Stem Cell Therapies Market is expected to grow at a CAGR of 16.7% to USD 401 million by 2026 | FMI

[250 Pages Report] The market for stem cell therapy market is expected to grow at a 16.7% CAGR to USD 401 million by 2026, up from USD 187 million in 2021.

Stem cells are undifferentiated biological cells, and having remarkable potential to divide into any kind of other cells. When a stem cell divides, each new cell will be a new stem cell or it will be like another cell which is having specific function such as a muscle cell, a red blood cell, brain cell and some other cells.

There are two types of stem cells

  • Embryonic cells
  • Adult stem or Somatic cells

Stem cells harvested from umbilical cord blood just after birth. And this cells can be stored in specific conditions. Stem cells also can be harvest from bone marrow, adipose tissue.

Embryonic cells can differentiate into ectoderm, endoderm and mesoderm in developing stage. Stem cells used in the therapies and surgeries for regeneration of organisms or cells, tissues.

Stem cells are used for the treatment of Gastro intestine diseases, Metabolic diseases, Immune system diseases, Central Nervous System diseases, Cardiovascular diseases, Wounds and injuries, Eye diseases, Musculoskeletal disorders.

Harvesting of Adult cell is somewhat difficult compare to embryonic cells. Because Adult cells available in the own body and it is somewhat difficult to harvest.

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Stem Cell Therapies Market: Drivers and Restraints

Technology advancements in healthcare now curing life threatening diseases and giving promising results. Stem Cell Therapies having so many advantages like regenerating the other cells and body organisms. This is the main driver for this market. These therapies are useful in many life threatening treatments. Increasing the prevalence rate of diseases are driven the Stem Cell Therapies market, it is also driven by increasing technology advancements in healthcare. Technological advancements in healthcare now saving the population from life threatening complications.

Increasing funding from government, private organizations and increasing the Companies focus on Stem cell therapies are also driven this market

However, Collecting the Embryonic Stem cells are easy but Collecting Adult Stem cell or Somatic Stem cells are difficult and also we have to take more precautions for storing the collected stem cells.

Stem Cell Therapies Market: Segmentation

Stem Cell Therapies are segmented into following types

Based on treatment:

Allogeneic stem cell therapy
Autologous stem cell therapy

Based on application:

Gastro intestine diseases
Metabolic diseases
Immune system diseases
Central Nervous System diseases
Cardiovascular diseases
Wounds and injuries
Eye diseases
Musculoskeletal disorders

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Based on End User:

Hospitals
Ambulatory Surgical centers

Stem Cell Therapies Market: Overview

With rapid technological advantage in healthcare and its promising results, the use of Stem Cell Therapies will increase and the market is expected to have a double digit growth in the forecast period (2015-2025).

Stem Cell Therapies Market: Region- wise Outlook

Depending on geographic regions, the global Stem Cell Therapies market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.

The use of Stem Cell Therapies is high in North America because it is highly developed region, having good technological advancements in healthcare setup and people are having good awareness about health care. In Asia pacific region china and India also having rapid growth in health care set up. Europe also having good growth in this market.

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Stem Cell Therapies Market: Key Players

Some of the key players in this market are

  • Mesoblast Ltd.,
  • Roslin Cells,
  • Regeneus Ltd,
  • ReNeuron Group plc,
  • International Stem Cell Corporation.

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Razors and Blades Market is Expected to Surpass a Valuation of US$ 3267.26 Mn in 2022 | FMI

The razor and blades market is anticipated to surpass a valuation of US$ 3267.26 Mn in 2022. Sales of razor and blades are expected to surge as the healthy CAGR of over 3.0% through 2032.

The disposable razor blades industry is growing due to rising aesthetic consciousness and increased spending on personal grooming products, especially among millennial and Gen-Zs. This is as the disposable razor blades are easy to use, so their recreational use is contributing to the industry’s expansion.

Growing emphasis on sanitation during shaving to prevent skin infection is driving up the use of single-use razor blades, reviving the disposable razor blade business. With the growing need for a precise and smooth shave, disposable razor blades that can provide such benefits are becoming more popular, boosting the market growth.

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Key Takeaways from the Razors & Blades Market Study:

  • Based on product type, double edge segment will witness fastest growth over the forecast period (2022-2032).
  • In terms of material, stainless steel segment is expected to dominate the global razor & blades market.
  • Online retailers segment will gain traction over the forecast period owing to the rising penetration of e-commerce industry
  • China is expected to spearhead the growth in East Asia razor and blades market through 2022 & beyond
  • India will dominate the South Asia razor and blades market over the forecast period (2022-2032)
  • “Rapid urbanisation, improved personal hygiene, greater population density, and the proliferation of transportation networks are triggering a rise in demand for razor blades.”- FMI Analyst said.

Who is winning?

Participants in the worldwide razor blades market have leveraged the use of product launches, collaborations, and acquisitions to expand consumer base and strengthen sales. To draw in

prospective patrons, manufacturers have attempted to employ innovative promotional techniques, marketing, and product debuts.

Major players in the razors and blades products market are Procter & Gamble, Edgewell Personal Care, Dorco, Ltd., Societe, Oscar Razor, Feather Safety Razor Ltd., Harry s INC, Phillips, Wahl Clipper, Dollar Shave Club INC among others.

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Global Razors and Blades by Category

By Product Type:

  • Double Edge.
  • Single Edge

By Material Type:

  • Carbon steel
  • Stainless Steel

By Price Range:

  • Low
  • Medium
  • Premium

By Consumer Orientation: 

  • Men
  • Women

By Sales Channel:

  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Departmental Stores
  • Online Retailers
  • Drug & Pharma
  • Other Sales Channel

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Glass Door Merchandizers Market to Hit US$ 13,557.9 Mn By 2028 | Future Market Insights Inc.

In this report, FMI throws light on the drivers and restraints likely to impact the glass door merchandiser market during this period. The hinged door type segment is expected to expand at a relatively higher CAGR. Among regions, Asia Pacific excluding Japan (APEJ) is anticipated to retain its dominance throughout the forecast period while growing at a rate of 9.03% from 2022 to 2028.

It is expected to reach US$ 13,557.9 Mn by 2028 end, with a 7.3 percent value CAGR. The self-contained glass door segment is expected to account for the lion’s share in terms of value and volume over the forecast period among the configuration segments.

Between 2022 and 2028, India is estimated to grow at a CAGR of 10.1%. The food and beverage market is anticipated to be the largest in China, and the country has ambitious plans for manufacturing and meeting global demand. Because of the significant emphasis on infrastructural advancements and propulsions in industrial output, major developing countries like China drive global GDP.

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Global Glass Door Merchandiser Market: Dynamics

Market insights suggest that the global glass door merchandiser market will witness high growth during the forecast period, which can be attributed to the growing economies, urbanisation, increasing standard of living of people and infrastructural developments taking place in the region. Growing food and beverages consumption and growing focus being put on marketing and promotion of products to attract the customers are the two factors pushing the market for glass door merchandisers.

Growing demand of food and beverages product displays for promoting and marketing food and beverages products to attract customers will further add to this demand. The need for higher output with fewer resources is driving the development of new technologies, especially in the retail industry.

The use of glass door merchandiser products increases the food and beverage selling capacity of retailers. Economic growth, increasing standard of living of people and urbanisation in developing countries, such as India, China and Asia Pacific region, will boost the demand in the global glass door market.

However, increase in raw material prices will be a major restraint for the global glass door merchandiser market. Major global players are partnering with various companies and distributors to sell their products and to increase their footprint in the global glass door merchandiser market. Technology advancements and research and development activities will create new opportunities for the major players in the global glass door merchandiser market.

Global Glass Door Merchandiser Market: Segments

The glass door merchandiser market has been segmented on the basis of application into retail outlet, commercial complexes and commercial kitchens. On the basis of application, the retail segment is anticipated to dominate the glass door merchandiser market in terms of value and volume over the forecast period. The retail segment is also projected to grow at a relatively higher CAGR over the forecast period. It is expected to represent a total incremental opportunity of US$ 4622846 Mn between 2022 and 2028 in the global glass door merchandiser market.

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Global Glass Door Merchandiser Market: Regional Outlook

Regionally, Asia Pacific accounted for over 49% of the global glass door merchandiser market value while North America accounted for the second largest share in the global glass door market in the forecast period form 2022-2028. China, India and SEAP are projected to be the fastest growing regions with a CAGR of 9% during the forecast period. Large population base, growing economies, urbanisation, improving standard of living and infrastructural developments are some of the important factors driving the demand in the glass door merchandiser market.

Global Glass Door Merchandiser Market: Key Participants

The report highlights some of the top companies operating in the global glass door merchandiser market including Traulsen, Tuobo Air Inc, Arneg Group, Everest, Liebherr, UAB Feror LT, True manufacturing Co.Inc, Migali industries, Anthony Inc and Hussmann Corporation.

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Skin Perfusion Pressure Testing Devices Market Analysis, Future Growth, Business Prospects, Size, Share, Development, Forecast to 2030

Future Market Insights (FMI), an ESOMAR-certified market research and consulting firm, offers insights into key factors driving demand for skin perfusion pressure testing devices in a new study. The report skin perfusion pressure testing devices market analyses the impact COVID-19 has had on the medical device industry in general, and skin perfusion pressure testing devices in particular.

TThe increasing prevalence of peripheral artery disease and chronic limb ischemia has necessitated advancements in skin perfusion pressure testing devices. Chronic limb ischemia is the most advanced form of peripheral artery disease, resulting in mortality, morbidity, and extensive use of healthcare resources. The skin perfusion pressure method for checking blood flow pressure in the limbs is required for assessing wound healing in limb ischemia.

Future Market Insights (FMI), an ESOMAR-certified market research and consulting firm, offers insights into key factors driving demand for skin perfusion pressure testing devices in a new study. The report skin perfusion pressure testing devices market analyses the impact COVID-19 has had on the medical device industry in general, and skin perfusion pressure testing devices in particular.

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How Can Historic and Future Outlook for Skin Perfusion Pressure Testing Devices Market Be Compared?

Peripheral artery disease (PAD) is a progressive condition that affects over 200 million people worldwide. It has a significant impact on hemodialysis patient mortality. PAD affects approximately 6.5 million people in the United States aged 40 and up. The rising prevalence of PAD has fueled the growth of the skin perfusion pressure testing market.

How is Shift to Non-invasive Procedures Affecting Skin Perfusion Pressure Testing Devices Sales?

Non-invasive procedures have continued to grow in popularity as compared to surgeries. The measurement of skin perfusion pressure by a laser doppler is a non-invasive method that is widely used by professionals. Due to high reproducibility, accuracy, specificity, and sensitivity, skin perfusion pressure testing has become one of the soundest methods.

For instance, non-invasive VMS-VASC system (Moor) Instruments), including the laser Doppler monitor moorVMS-LDF, low profile fibre optic probe (VP-SPP), and pressure cuff controller moorVMS-PRES have been specifically designed to aid micro vascular assessments in a variety of clinical applications and physiological research.

Country-wise Insights

How Big is the Opportunity in the U.S.?

The healthcare system of the U.S. is well renowned for its advanced infrastructure and expenditure. The care regime of the care centers and hospitals are monitored by various regulatory rules and insurance policies. The massive hospital bills incurred other than the Medicare have been influencing the market in the country.

Government and regulatory bodies of the U.S. are adopting several cost-containment plans to reduce their healthcare burden. The shift from a volume to a value-based system is majorly driven by the various measures undertaken by providers, governments, biotechnology companies, and insurance payers. Some of the measures are outcome-based profits, pricing, risk sharing, competitive tendering, and price control.

A value-based healthcare system will not only provide improved outcomes through integrated care pathways, but also levy pricing pressure on medical device companies, and this is likely to impact investments on the R&D of advanced medical treatment technologies.

Furthermore, due to the higher prevalence of critical limb ischemia and peripheral arterial disease in U.S., several manufactures are conducting campaigns to raise general awareness among people related to these diseases. This is likely to support the overall market growth in the country. For example, Amputee Coalition of America (NGO) launched a campaign in April 2018 to raise limb loss awareness among people.

Why Innovation is Key to Success in German Medical Device Market?

The Federal Statistical Office has reported that healthcare spending in Germany rose by 4% in 2018 from 2017. In 2018, the country’s healthcare spending accounted for 11.7% of the GDP. Furthermore, health expenditure was expected to surge to 407.4 billion Euros by 2019, presenting a lucrative landscape for the expansion of the skin perfusion pressure testing devices.

Also presence of companies such as ELCAT GmbH is supporting the expansion in Germany. The company has been investing significantly in expansion efforts. Growth strategies adopted by these companies are expected to aid the expansion in Germany.

Since 2009, health insurance has been made mandatory for all citizens of the country. According to National Center for Biotechnology Information (NCBI), a total of 70 million people, which roughly covers 85% of the population are covered by statutory health insurance. Another 11% population of Germany is covered by substitutive private health insurance. Conducive reimbursement policies and regulatory scenario are presenting attractive opportunities for growth.

How is Rising Disposable Income in China Affecting Growth?

Increasing disposable income can have significant impact in development of economy in emerging countries which results in affordability of proper healthcare treatment. China’s per capita disposable income reached (about 4,961 U.S. dollars) in 2020, more than double the level in 2010.

Potential for high healthcare insurance and rising disposable income will contribute to increase in affordability of healthcare services. This will also allow improved accessibility to expensive equipment for treatment of diseases. The market in China is expected to witness significant growth at a CAGR of around 5.4%.

How Can Players Boost Skin Perfusion Pressure Testing Devices Sales in South Africa?

Both chronic limb ischemia and peripheral artery disease impose serious threats to the population. Lack of awareness of diseases and lack of proper treatment leads to high prevalence of these diseases. Due to limited campaigning about the assessment of these diseases, there seems to occur less usage of these devices in hospitals in South Africa.

Moreover, poor healthcare facilities in some countries restrain the growth of the skin perfusion pressure testing market. Despite financial burden, government in South Africa is adopting various initiatives to spread create awareness among population, which is expected to enable steady growth in the market.

The market in South Africa is expected to witness sluggish growth at a CAGR of just around 3.8%.

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Competitive Landscape

Most of the medical device companies are currently focusing on designing laser doppler since it has gain much popularity in assessment of wound healing.

For example, Moor Instruments has design moorVMS-VASC 2.0 laser doppler system.

Moreover, the manufactures are focusing on getting stamp of approvals for their product and also entering into partnership and collaboration agreement to expand their product portfolio in different countries globally.

For instance, in April 2016, Perimed AB announced FDA approval for PeriFlux 6000.

Some of the leading companies operating in the market are:

  • Vasamed Incorporated
  • Moor Instruments
  • Perimed AB
  • ELCAT GmbH
  • ATYS Medical
  • Viasonix
  • Promed Group

Skin Perfusion Pressure Testing Devices Market by Category

Product

  • Laser Doppler Skin Perfusion Pressure Testing Devices
  • Photoplethysmography Skin Perfusion Pressure Testing Devices
  • Consumables
    • Pressure Cuff Controller
    • Fibre Optic Probe

Modality

  • Portable Devices
  • Cart-based Devices

End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Wound Care Centers
  • Vascular Laboratories

Region

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

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According to FMI’s analysis, skin perfusion pressure testing devices sales have grown at 5.3% CAGR between 2015 and 2019.

Skin perfusion pressure has become a potential tool for wound healing in patients with chronic limb ischemia. Compared to other non-invasive methods such as toe blood pressure and ankle-brachial index, skin perfusion pressure provides more accurate results, thus, its usage is gaining popularity among physicians.

This technique also remains a clinically relevant and objective tool of local perfusion in the setting of chronic limb ischemia, particularly among higher-risk patients with arterial calicifications and comorbidities that tend to microvascular disease. FMI expects global skin perfusion pressure testing devices market to grow at 4.5% CAGR through 2030.

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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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Shaving Care Market Sales are projected to increase at a 7.5% CAGR During Forecast Period by 2032 | FMI

The shaving care market is poised to reach a valuation of US$ 16.6 Bn in 2022. Sales are projected to increase at a 7.5% CAGR, with the market size reaching US$ 34.1 Bn by 2032.

Gender-neutral products concept is emerging as a trend in the shaving care market. Products with simple, and minimal designs are increasingly being marketed by vendors. Vendors have desexualized the gender narrative by removing clichés and choosing colours such as mint, taro, and pomelo for a broad gender-neutral outlook.

Furthermore, the portability of women’s razors is a new trend. As women spend more time away from home, whether on the job, on vacation, or simply driving, there is a greater demand for portable, easy-to-use and carry models.

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Moreover, the evolution of hair removal from an “optional beauty” activity to a “necessary hygiene” exercise has significantly aided sales of razors. As a result, manufacturers are introducing women-centric models that offer moisturization, are suitable for sensitive sking and offer a burn free shaving experience.

“The men’s shaving sector is predicted to benefit from the growing e-commerce industry as well as razor design innovation. However, the growing popularity of trimmers and the expanding trend of growing beards are likely to act as a driver for the market’s expansion “says an FMI Analyst.

Key Takeaways:

  1. The hypermarkets/supermarkets accounted for a dominant share in the global market in 2021.
  2. Retailers are contributing to segment growth by launching men’s counter catering to men’s personal care and grooming products.
  3. Sales of trimmers will continue gaining traction over the forecast period.
  4. The U.S. will continue dominating the North America shaving care market over the forecast period.
  5. India will emerge as a lucrative pocket, holding a lion’s share of the South Asia shaving care market through 2032.

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Market by Category

By Product Type:

  • Shaving Cream
  • Shaving Gel
  • Razors & Blades
  • After Shave Care
  • Lotion/Balm
  • Splash/Gel
  • Trimmers

By Consumer Orientation:

  • Men
  • Women

By Price Range:

  • Low
  • Medium
  • Premium

By Sales Channel:

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Multi-Brand Stores
  • Discount Stores
  • Salon/Grooming Clubs
  • Drug Stores & Pharmacies
  • Online Retailers
  • Other Sales Channel

By Region:

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

Competition Landscape

Leading manufacturers of shaving care products are focusing on aggressive promotional strategies, advertisements, and new product launches to improve sales in the market.

Key players operating in the global shaving care market include Conair Corporation Havells India Limited, Koninklijke Philips N.V., Panasonic Holdings Corporation, Johnson and Johnson Private Limited, ITC Limited, Procter & Gamble, WAHL, Xiaomi and Zhejiang among others.

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

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Hydrogen Electrolyzer Market With Included Analysis of New Trends, Overview, Updates, and Forecast During 2022-2032 : Future Market Insights

The global hydrogen electrolyzer market is expected to grow at a CAGR of 24.2% over the forecast period of 2022-2032. The market valuation is set to reach US$ 3.7 Bn by the end of 2032. Rising demand for hydrogen gas across various end-use sectors is estimated to drive growth in the hydrogen electrolyzer market during the forthcoming years.

The creation of new technologies that will reduce the operational costs of hydrogen electrolyzers is expected to stimulate the market. As the negative effects of carbon emissions are better understood, there will be more opportunities for market expansion.

In the next ten years, there will be a rise in the demand for hydrogen electrolyzers as a result of an increase in on-site hydrogen production and the use of renewable energy sources. The growing demand for carbon-free steel in a number of industries, including the automotive industry, is also anticipated to open up new growth opportunities for the steel manufacturing sector.

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Increasing initiatives taken by several automotive manufacturers to reduce carbon emission from vehicles is another vital factor that would propel sales of hydrogen electrolyzers in future. Surging development of green energy worldwide is also expected to drive the market.

Key Takeaways: Hydrogen Electrolyzer Market

  • By product type, sales of PEM electrolyzers are expected to grow at a CAGR of 2% during the forecast period.
  • By outlet pressure, the low (<= 10 bar) segment is anticipated to dominate the market and is expected to account for about 2/3rd of the share.
  • By end use, the transportation segment is projected to lead the hydrogen electrolyzer market and create an absolute $ opportunity worth US$ 5 Mn in 2032.
  • In terms of region, the Europe hydrogen electrolyzers market is estimated to exhibit a CAGR of 1%.

“Increasing demand for hydrogen fuel due to rising investments in novel programs for reducing carbon emissions globally is set to create new growth opportunities for companies in the hydrogen electrolyzers market,” says a FMI analyst.

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Competitive Landscape: Hydrogen Electrolyzer Market

Some of the key players present in the global hydrogen electrolyzer market include Siemens AG, Nel Hydrogen, McPhy Energy, ITM Power Plc, Tianjin Mainland Hydrogen Equipment Co. Ltd, Gaztransport & Technigaz, Giner Inc., GreenHydrogen Systems, iGas Energy GmbH, Beijing CEI Technology Co., Ltd., Next Hydrogen, Air Liquide, Ballard Power Systems, Enapter , Plug Power Inc., Bloom Energy, Pure Energy Centre, Shandong Saikesaisi Hydrogen Energy Co., Ltd., Idroenergy, Erredue SpA, and SwissHydrogen SA among others.

Manufacturers are strategically collaborating with technology companies for co-developing new products and gaining a competitive edge. A few others are looking forward to helping the oil and gas industry by providing technologically advanced products.

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About Industrial Automation Division at Future Market Insights

The industrial automation division of FMI offers a novel approach and innovative perspective in analyzing industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial and special purpose machinery across manufacturing sector and distinctive analysis about installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustain, grow and identify new revenue prospects.

Table of Content

  1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Technology Roadmap

1.5. Analysis and Recommendations

  1. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

  1. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

  1. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Strategic Promotional Strategies

Read Full TOC..

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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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Wear Plates Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2021-2031

The global wear plate market is expected to register year-on-year growth of 5.1% in 2021, reaching US$ 6.9 Bn by the end of 2021. Wear plates are used in a variety of end-use sectors to assure the long-term safety of the equipment.

It also saves money on maintenance as it lasts longer than any other steel. Wear-resistant steel plates reduces the weight of the equipment by 30-40%. On account of this, the global wear plates is anticipated to exhibit growth at a CAGR of 6.3% between 2021 and 2031.

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Regionally, North America is projected to remain a key wear plate market over the forecast period owing to increasing demand from end-use applications. Sales in North America are expected to surge at a CAGR of 7.0% through 2031.

According to Future Market Insights (FMI), the wear plates market is likely to witness robust growth in the near future, on the back of expansion of end-use industries and applications in manufacturing.

On account of growing applications in waste management, pulp & paper, chemicals, and other industries, demand in wear plate market is expected to increase over the forecast period. Subsequently, growing research and development activities will accelerate the growth in the wear plate market.

Historically, the wear plate market grew at 2.0% CAGR between 2016 and 2020. Increasing material cost and lack of professional labour hampered the demand for wear plates in various end-use sectors, severely impacting the growth.
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As per FMI, the sales in the wear plate market are likely to increase at a CAGR of 5.8%, in terms of volume over the assessment period of 2021-2031. Growth in the market is attributable to increasing applications in mining, power generation, steel & aluminium mills, and others.

Wear plates protect the equipment by coating it with a protective layer. It aids in the prevention of damage and ensures proper usage, extending the usable life of each piece of equipment.

Every movement creates abrasion as the mechanical pieces, which are usually made of metal, grinding against each other. If it breaks, the replacement cost and the cost of unwanted downtime, will be inefficient.

Protecting the most vulnerable parts of the equipment with protective covers is one way to prevent harm. Hence, end users are providing safe and secure communication between suppliers and customers to protect the machinery.

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Worldwide Industrial Valves Market Worth of US$ 96.2 Bn by 2029 – Exclusive Report by FMI

The global industrial valves market is estimated to be worth around US$ 71.8 Bn in 2022. With rising adoption of industrial valves for regulating the flow of materials, the overall demand is anticipated to rise at a moderate CAGR of 4.3% between 2022 and 2029, totaling a valuation of US$ 96.2 Bn by 2029.

An impressive market share of 28.2%, dominated by the U.S., is anticipated for North America in 2022, as automatic industrial valves are increasingly used to monitor and control the flow of materials across industrial structures.

Cast steel, carbon steel, and stainless steel continue to be the manufacturers’ preferred materials for industrial valves, accounting for 85% of revenue shares, according to a market study on materials for industrial valves. According to the findings of the report, bronze is likely to become profitable as a material of choice in the coming years.

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The global industrial valves market is expected to be worth approximately $71.8 billion in 2022. With the increasing adoption of industrial valves for regulating material flow, overall demand is expected to rise at a moderate CAGR of 4.3% between 2022 and 2029, totaling US$ 96.2 Bn by 2029.

With the onset of Industry 4.0 and the reciprocating shift of industries towards automation, the industrial valves landscape is compelled to move beyond its traditional, old-school valve engineering models. Although manually operated valves still account for almost 2/3rd of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years. 

By type, the gate type of industrial valves segment is expected to hold prominent value shares of the global industrial valves market. Furthermore, the globe valve segment is expected to be the prominent segment throughout the forecast period. Gate valves, closely trailed by globe and ball valves, are identified to remain the sought-after industrial valve types throughout the forecast period. Several manufacturers are however focusing on investments in global industrial valves. FMI’s research also highlights the visibly growing market attractiveness of butterfly valves across industries.

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The ongoing expansion of the chemical industry, as well as the revival of the oil and gas industry, are likely to play an important role in driving global sales of industrial valves. Furthermore, according to FMI’s report, there are numerous opportunities in the chemical and water & wastewater industries.

The analysis of the industrial valves market based on materials reveals that cast steel, carbon steel, and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for ~85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as indicated by report findings.

Market in APEJ Projected for Remunerative Growth

The market in the Asia Pacific excluding Japan (APEJ) is expected to exhibit lucrative growth potential in the global industrial valve market over the forecast period of 2022-2029. According to the report, this growth is propelled by the rapid growth in the oil & gas industry in countries of APEJ such as India and China, and ASEAN Countries, among others. The economic condition of these countries has been positively developing.

Furthermore, owing to the effects of macroeconomic factors such as growing population, urbanization, and rapid industrialization, the confidence of investors and investments in housing and other residential projects across APEJ has increased drastically. Consequently, the region’s chemical has had considerable momentum over the past few years. This overall scenario is translating into modest growth in the demand for valves across multiple industries, eventually pushing the market growth potential of APEJ.

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Industrial Valves Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE & Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH & Co. KG, among others.

The global industrial valve market is significantly consolidated with some players holding prominent shares of the market. These players are offering industrial valves under their popular brands such as Cameron, and World Valves, among others.

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Pet Dietary Supplements Market is Anticipated to Increase at a CAGR of 7.1% by the end of 2030 | FMI

Future Market Insights (FMI) in a new study has projected the pet dietary supplements market to record impressive growth. According to the report, the market will reach a valuation of US$ 3.78 Bn by 2021.Pet humanization is a growing trend where owners are treating their pets as counterparts and wanting to provide their pets with best nutrition for their wellbeing. With pet ownership becoming widespread. Pet parenting or pet humanization has been fuelling the demand for pet dietary supplements.

This trend is being mirrored in the high frequency of the launch of innovative formulations in the market. According to Pet Food Processing, 45 new nutritional products for pets were launched in 2020. The pet owner’s love for their pets is driving the demand for pet dietary supplements, besides the fact that supplements ensure that the pets receive proper nutrition, which off-the-shelf pet foods might be void of. Additionally, pet dietary supplements find demand among the millennial care takers.

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Millennial, who account for a majority of pet owners, also think that pets deserve the same treatment as small children, thus explaining the demand for pet dietary supplements. Natural and organic pet supplements are becoming increasingly popular. Herbs and superfood are being incorporated into the pet supplements, which will aid the overall market expansion.

Probiotic Supplements to Be Highly Sought-after

As in case of humans, probiotic supplements for dogs are used to aid digestive health and regularity. Probiotic nutritional supplements facilitate the regulation of the good bacteria in the digestive system that helps to break down dog food so that nutrients can be better extracted. The probiotic supplements can also inhibit the growth of harmful bacteria that can make both humans and dogs sick, an example of which is E. coli.

Obesity is a growing health problem among pets, encouraging an increasing number of veterinary practioners to open weight-loss clinics. According to the Association for Pet Obesity Prevention, 59% of cats and 54% of dogs in the U.S. were overweight or obese in 2016, and this concern has increased over the recent years. Weight management is trending within the pet industry and dietary changes are being taken care of so as to regulate the pet weight and ensure its health.

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This change in consumer buying preference has encouraged the players in the market to focus on innovation and expand the portfolio, tapping the unexposed segments of the industry and as a result escalating the demand over the forecast period. FMI in its latest study has forecast the market to rise at a CAGR of 7.1% between 2020 and 2030.

Key Takeaways from the Pet Dietary Supplements Market Study

FMI in its latest study has forecast the pet dietary supplements market to rise at a CAGR of 7.1% between 2020 and 2030The U.S. will continue exhibiting strong demand and account for nearly 88% of the North America market.

The demand from the U.K. will remain steady as FMI projects it to exhibit 3.8% Y-o-Y growth in 2021Increasing pet ownership will support growth in Germany and FranceJapan and South Korea will emerge as key markets in East Asia”Consumers’ awareness regarding pet health is rising, which in turn is increasing the demand for pet dietary supplements. Moreover, increasing focus of companies on advertisement and promotion of pet dietary supplements is positively aiding expansion of the market,” said an FMI analyst.

Disruptions Caused Due to COVID-19 Impacting Sales

The current pandemic outbreak has posed numerous challenges on the part of supply side and demand side. The temporary regulation imposed by regional governments to restrict the movement has impacted supply chains drastically. Besides this, the spectacular shift from discretionary spending to essential goods has further negatively impacted the market growth.

E-Commerce is redefining the commercial activities around the world. In fact, the Covid-19 pandemic and lockdown effects have tipped the involvement of e-Commerce within all industries. The segment of population not prevalent with internet retailing has also adopted it, it being the only resort. There is a lot of opportunity for companies and online services to work together to offer greater engagement to consumers.

Who is winning?

A few of the key players in the pet dietary supplements market are Nestle SA, Mars Incorporated, NOW Foods, Blue Buffalo Co Ltd., Ark Naturals, Virbac, Novotech Nutraceuticals, Inc., Zoetis, PetAG, Inc., VetClassics and GNC, among others.

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Companies operating in the market are increasingly investing in product development with an aim to gain a competitive advantage over other players operating in the market.

Pet Dietary Supplements Market by Category Product Type

  • Glucosamine
  • Probiotics
  • Multivitamins
  • Omega-3 fatty acids
  • Others

Application

  • Joint Health
  • Digestive Health
  • Weight Management
  • Skin and Coat Health
  • Dental Care
  • Others

Form

  • Capsules
  • Tablets
  • Powder
  • Others

Form

  • Dog
  • Cat
  • Horse
  • Others

Sales Channel

  • Wholesalers & Distributors
  • Modern Trade
  • Convenience Stores
  • Multi-brand Stores
  • Pet Specialty Stores
  • Online Retailing

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South 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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Variable Frequency Drive (VFD) Market to Display Impressive Growth of 6% with Rising Demand | FMI

The variable frequency drives (VFD) market has grown significantly in recent years, owing to increased infrastructure development opportunities in emerging regions, which has increased demand for heating and ventilation systems. VFD development is currently shifting toward offering industry-specific solutions in order to reduce costs and operational downtime, prompting a slew of manufacturer innovations.

Variable frequency drives are becoming more common in Industry 4.0, particularly in critical environments and the industrial internet of things (IIot). Variable speed drives with embedded logic as onboard programmable logic controllers are becoming more common as factories embrace automation.

One of the IIoT advantages of using VFDs is improved remote access. Technicians can remotely monitor project and equipment conditions, and workers receive alerts faster, allowing them to correct anomalies on time. It is also possible to perform predictive maintenance and real-time monitoring.

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The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion-dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, the adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.

Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever-expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.

As a result of these advancements, leading manufacturers are increasing R&D to produce smart VFDs. For example, Applied Machine & Motion Control (AMMC) sells the Yaskawa Microdrive collections J1000 and V1000. Such developments are expected.

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Key Takeaways of Variable Frequency Drives Market Study:

AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031

 “Rapidly expanding infrastructure for capital projects are attracting frequent capital investments, attributed to the increasing scale of urbanization. Hence, automotive sales are rising, leading to widening revenue pools for VFD manufacturers,” says the FMI analyst.

Competitive Landscape

The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.

The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing make it challenging for new entrants in the variable frequency drives market.

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Variable frequency drives Market : Segmentation

Drive Type

  • AC Drive
  • DC Drive

Voltage Range

  • Low Voltage
  • High Voltage

Application Type

  • Standard
  • Regenerative

End-use Application

  • Pumps
  • Fan
  • Compressor
  • Conveyor
  • HVAC
  • Others

End-use Industry

  • Oil & Gas
  • Food processing
  • Automotive
  • Mining & Metals
  • Pulp & Paper
  • Others

Region

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

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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