Market Insights IARC

The Prescription Hair Loss & Hair Removal Drugs Market size is estimated to reach $44.1 billion by 2027, growing at a CAGR of 6.9% during the forecast period 2022-2027. Dermatologists prescribe spironolactone to treat hair loss. Prescription pills for hair loss may include finasteride. The best medicine for hair regrowth in North America could possibly be Rogaine to treat male pattern baldness. The most popular hair fall control tablet names consist of Minoxidil and Finasteride. The rising count of organizations spreading consciousness for hair redevelopment is set to drive the Prescription Hair Loss & Hair Removal Drugs Market. The increasing count of millennials enduring hair loss and requiring prescription pills for hair loss is set to propel the growth of the Prescription Hair Loss & Hair Removal Drugs Industry during the forecast period 2022-2027.

Prescription Hair Loss & Hair Removal Drugs Market Report Coverage

The “Prescription Hair Loss & Hair Removal Drugs Market Report - Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Prescription Hair Loss & Hair Removal Drugs Market.

by Drug Type: Hair Loss Medications (Finasteride and Corticosteroids), Oral Contraceptive Pills or Birth Control Pills and Hair Removal Medications (Vaniqa, Spironolactone, Flutamide, Finasteride, Ketoconazole and Fluridil). by Gender: Male and Female. by Geography: North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest Of The World (the Middle East and Africa).

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Key Takeaways

Geographically, North America (Prescription Hair Loss & Hair Removal Drugs Market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 dueg to the enormous count of women enduring appreciable hair loss, with Rogaine possibly being the best medicine for hair regrowth in North America.

The growth of the Prescription Hair Loss & Hair Removal Drugs Market is being driven by the increasing predominance of hair loss. However, side-effects of hair loss medicines for men are some of the major factors hampering the growth of the Prescription Hair Loss & Hair Removal Drugs Market.

Prescription Hair Loss & Hair Removal Drugs Market Detailed Analysis on the Strengths, Weaknesses and Opportunities of the prominent players operating in the market would be provided in the Prescription Hair Loss & Hair Removal Drugs Market report.

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Prescription Hair Loss & Hair Removal Drugs Market Segment Analysis - by Drug Type

The Prescription Hair Loss & Hair Removal Drugs Market based on drug type can be further segmented into Hair Loss Medications, Oral Contraceptive Pills or Birth Control Pills and Hair Removal Medications. The Hair Loss Medications Segment held the largest Prescription Hair Loss & Hair Removal Drugs Market share in 2021. This growth is driven by the increasing predominance of hair loss. The extensive application of Rogaine, the best medicine for hair regrowth in North America is further propelling the growth of the Hair Loss Medications segment. Furthermore, the Hair Removal Medications segment is estimated to grow with the fastest CAGR of 7.1% during the forecast period 2022-2027 due to the rising application of hair removal pills, medicines and creams with dermatologists providing hair removal treatments including laser hair removal and prescription cream.

Prescription Hair Loss & Hair Removal Drugs Market Segment Analysis - by Gender

The Prescription Hair Loss & Hair Removal Drugs Market based on gender can be further segmented into Male and Female. The Males Segment held the largest Prescription Hair Loss & Hair Removal Drugs Market share in 2021. This growth is driven by the increasing predominance of hair loss in men. As per statistics, men are much more inclined to endure hair loss than women. As per the American Hair Loss Association, by the age of thirty-five, nearly two-thirds of men would have lost slight hair. The greater testosterone level in men is further propelling the growth of this segment. Furthermore, the Males segment is estimated to grow with the fastest CAGR of 7.3% during the forecast period 2022-2027, owing to the rising pervasiveness of pattern baldness in men resulting in greater hair loss.

Prescription Hair Loss & Hair Removal Drugs Market Segment Analysis - by Geography

The Prescription Hair Loss & Hair Removal Drugs Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North American (Prescription Hair L& Hair Removal Drugs Market) dominated the Prescription Hair Loss & Hair Removal Drugs Market with a share of 32% of the overall market in 2021. The growth of this region is driven by the increasing trend of smoking among females in the North American region. The surging novel hair loss products are further propelling the growth of the Prescription Hair Loss and Hair Removal Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is fueled by the factors like proliferating inclination toward western culture in the Asia-Pacific region. The existence of China is further fueling the progress of the Prescription Hair Loss & Hair Removal Drugs Market in the Asia-Pacific region.

Prescription Hair Loss & Hair Removal Drugs Market Drivers

Increasing Female Pattern Hair Loss:

Female pattern hair loss influences nearly 40% of women aged 50. As per a physician, the root cause of hair loss determines its treatment. For inflammation, topical or injectable cortisone can assist. If associated with aging, topical medications like minoxidil and oral medications can be utilized. Spironolactone, finasteride, dutasteride and oral minoxidil are prescription pills for hair loss that are androgenic. All these factors fuel the growth of the Prescription Hair Loss & Hair Removal Drugs Market during the forecast period 2022-2027.

Soaring Applications of Hair Growth Products:

The most popular hair fall control tablet names may involve Minoxidil (Rogaine) and Finasteride (Propecia). As per Healthline, Women’s Rogaine 5% Minoxidil Foam has been ranked best for women including 5% minoxidil as an essential constituent. As per a 2019 investigation, Rogaine performs by boosting hair growth and decreasing hair loss, making it great for female and male pattern baldness. It can also be utilized for alopecia and eyebrow density. The soaring applications of hair growth products and the most popular hair fall control tablet names are therefore driving the growth of the Prescription Hair Loss & Hair Removal Drugs Market during the forecast period 2022-2027.

Prescription Hair Loss & Hair Removal Drugs Market Challenge

High Cost of Prescription Pills for Hair Loss:

By age 40, 40% of women would deal with hair loss to a certain degree. Treatment with prescription pills for hair loss may delay hair loss and assist in regrowing hair. However, one may not acquire as much growth as anticipated. One needs to keep partaking in the medication. Else, any regrown hair would fall. The provincial health plan or private health insurance possibly would not cover the medication and the medications can be expensive. These issues are thus hampering the growth of the Prescription Hair Loss & Hair Removal Drugs Market.

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Prescription Hair Loss & Hair Removal Drugs Industry Outlook

Increasing clinical investigations, novel product launches, mergers and acquisitions and R&D activities are key strategies adopted by players in the Prescription Hair Loss & Hair Removal Drugs Market. The top 10 companies in the Prescription Hair Loss & Hair Removal Drugs Market are:

Merck & Co., Inc.

F. Hoffmann-La Roche Ag

Sandoz

Teva Pharmaceuticals

Advacare Pharma

Accord Healthcare

Alkem Labs Ltd

Aurobindo Pharma Ltd

Cipla Limited

Dr. Reddy's Labs Inc.

Recent Developments

In August 2022, Accord Healthcare introduced generic medication. These medications are directed at treating brain tumors and blood cancers. Carmustine has been included in the line of chemotherapy medications.

In September 2021, Dr. Reddy’s introduced medication for female pattern loss. The prescription medication Minoxidil topical solution 2 percent and 5 percent were introduced. This was performed for the treatment of female pattern hair loss (FPHL).

In March 2021, Alkem Laboratories, in collaboration with ABCD Technologies, announced to invest in healthcare services. The goal is to digitize healthcare infrastructure in India.

Relevant Reports:

Hair Removal Devices Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis Report Code: HCR 25907

Hair Care Ingredients Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis Report Code: CPR 0115

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Opium Tincture Market size is estimated to reach $65 million by 2026, growing at a CAGR of 4.2% over 2021-2026. Opium tincture is considered as medication that helps to prevent diarrhoea which contains morphine helps to reduce gastrointestinal motility. Opium tincture also helps to increase gastrointestinal muscle tone that helps to reduce pain. Tinctura opii camphorate also known as paregoric, or camphorated tincture of opium that acts as antidiarrheal medication. Pulvis opii is a powdered form of opium that is mostly used in order to help from diarrhea disease. Various other method of opium such as vinum opii which is a kind of herbal wine also support in medication of diarrhea. Increasing prevalence of diabetes disease among people and growing developments in healthcare is the major factor driving the growth of this market. Furthermore, increasing research and development activities in medical industry and rising government initiatives is set to further enhance the overall market demand for Opium Tincture Market for the period 2021-2026.

Report Coverage

The report: “Opium Tincture Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Opium Tincture Market. By Method: Tinctura Opii, Ptinctura Opii Camphorate, Pulvis Opii, Vinum Opii, and Others. By End-Use Industry: Hospitals, Clinics, and Others. By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa).

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Key Takeaways

Geographically, in 2020, North America dominated the Opium Tincture Market owing to increasing advancement in generic drug, high healthcare expenditure and increasing favorable reimbursement policies.

Increasing prevalence of diabetes disease among people and growing developments in healthcare are likely to aid in the market growth of the Opium Tincture.

Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Opium Tincture Market report.

Overdose causes respiratory depression or death is set to create hurdles for the Opium Tincture Market.

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Opium Tincture Segment Analysis – By Method

The global Opium Tincture Market based on Method can be further segmented into Tinctura Opii, Ptinctura Opii Camphorate, Pulvis Opii, Vinum Opii, and Others. The Tinctura Opii segment is the major segment generating revenue in 2020. This is mainly owing to the wide usage of therapeutic effect that helps to provide effective medication increases the demand of tinctura opii camphorate and market growth. The Pulvis Opii segment is estimated to register the fastest CAGR of 1.6% for the period 2021-2026. This is mainly owing to it is most effective in the early stages of diarrhoea that increasing the growth of this segment.

Opium Tincture Segment Analysis – By End-Use Industry

The global Opium Tincture Market based on End-Use Industry can be further segmented into Hospitals, Clinics, and Others. The Hospital segment registers for the highest Opium Tincture market share in 2020. This is owing to easy accessibility of hospital and higher selling capacity. Moreover, owing to availability of opium tincture patients can prefer hospitals and government is taking initiatives to increase the availability of vinum opii and pulvis opii in hospitals that increases the growth of this market. The Clinics segment is forecasted to register the fastest CAGR of 0.5% over 2021-2026. This is mainly owing to rising research and development and increasing availability for increasing gastrointestinal muscle tone that are increasing the growth of this market.

Opium Tincture Segment Analysis – By Geography

North America dominated the Opium Tincture Market with major share of 40% in 2020. This is owing to increasing advancement in generic drug, high healthcare expenditure and increasing favorable reimbursement policies. According to American Hospital Association (AHA), in U.S. about 6,090 number of hospitals are developed in 2019 that increases the advancement in health sector and are rising the growth of this market.

However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 2.1% during the forecast period 2021-2026 owing to rising population and increasing development in healthcare.

Opium Tincture Market Drivers

Increasing Prevalence of Diabetes Disease

Increasing prevalence of diabetes diseases increases the demand of opium tincture and are increasing the growth of the Opium Tincture Market. According to World Health Organization, about 422 million people are suffering from diabetes in 2020 that increases the chances of diarrhoea which increases the demand of opium tincture treatment and are increasing the growth of the Opium Tincture Market over 2021-2026.

Growing Developments In Healthcare

The market is set to expand due to advancements in opium tincture drug formulations and a rise in the number of drug trials relating to the efficacy of opium tincture in various disease conditions. Moreover, the increase in government initiatives also increasing the growth of Opium Tincture Market over 2021-2026.

Covid-19 Impact:COVID-19 pandemic had greatly affected the Opium Tincture Market. During pandemic, researchers are working to develop a vaccine for Covid-19 as the virus are spreading quickly among people that decreases the focus for the other medications and are negatively impacted the growth of this market.

Opium Tincture Market Challenges

Overdose Causes Respiratory Depression The factors that is set to impede the growth of the Opium Tincture Market are the increasing excess use of opium causes respiratory depression or death is set to create hurdles for the Opium Tincture Market.

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Opium Tincture Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Opium Tincture Market. Opium Tincture top 10 companies include, GlaxoSmithKline, MacFarlan Smith, Johnson and Johnson, Shionogi Pharmaceutical, Johnson Matthey, Sun Pharma, and Mallinckrodt Pharmaceuticals.

Development

In Feb 2021, Johnson and Johnson are working with GlaxosmithKline on order to develop a new varieties of opium that helps to increase gastrointestinal muscle tone and are increases the growth of this market.

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Diarrhoea Market

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Diabetes Therapeutics Market

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The Vein Finders Market size is forecast to reach $642.7 million by 2027 and is expected to grow at a CAGR of 12.4% during the forecast period 2022-2027. Vein finders are an essential device for healthcare professionals to use during venipuncture operations as they allow for the finding of unseen veins without causing pain to the patient. These are sophisticated devices that locate veins beneath the skin in order to collect blood and provide IV access in a variety of patient groups, including the elderly, obese, and persons of colour who have difficulty finding veins. Most of the devices work by using vein visualization technology which uses infrared light on the patients. The hemoglobin, which is the oxygen carrying protein inside the patient, absorbs the light and creates a pattern that reveals the blood vessels. This helps professionals understand the vein mapping of a patient and enables the discovery of veins that are difficult to identify. There has been a steep rise in the incidences of obesity as well as the geriatric population worldwide, which has further driven the market. Professionals use the vein finder to navigate through the layers of fat or even locate the varicose veins in elderly patients for the purposes of phlebotomy and cannulation.

Vein Finders Market Report Coverage

The report: “Vein Finders Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Vein Finders Market.

By Type: Active Vein Finders, Passive Vein Finders.

By Portability: Tabletop Vein Finders, Portable Vein finders.By Applications: Blood Sample Collection, Cannulation.

By Technology: Near Infrared (NIR), Ultrasound, Transillumination.

By End Users: Hospitals and Clinics, Ambulatory Surgical Centers, Blood Banks, Specialized Clinics, Others.

By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), Europe (U.K, Germany, Italy France, Spain, Netherlands, Russia, Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, South Korea, Rest of Asia Pacific), Rest of the World (Middle East and Africa).

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Key Takeaways

Geographically, The North American Vein Finders market accounted for the highest revenue share in 2021. This is owing to the highly developed healthcare infrastructure in the region. In addition, the region has an ever-increasing population of geriatric patients which is expected to grow further by over 20% as per the U.S. Department of Health.

There has been increased funding for new Vein finder technologies across several hospitals. Key players such as Accuvein have received funding for new product innovations in the field.

Vein Finders Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Vein Finders Market report.

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Vein Finders Market Segment Analysis – By Type

The Vein Finders Market based on type can be segmented into Active vein finders and Passive vein finders. Both are equally effective in locating veins and they can be distinguished by how they act to highlight or disclose veins to the naked eye. Active Vein finders had the largest share in the Vein Finders Market, growing at a CAGR of 10.9% during the forecast period 2022-2027. This is owing to the increased adoption of Active Vein finders amongst healthcare professionals. Active finders are trusted more when it comes to Peripheral venous access procedures. However, Passive vein finder is estimated to be the fastest-growing segment and will witness the highest CAGR during the forecast period 2022-2027, owing to their ease of use. Passive vein finders are usually glasses that do not require the battery to operate. They are also small, lightweight, and easy to carry around. Demand for passive vein finder glasses is further driven due to their capabilities in emergency situations such as a facility-wide power outage, where they are used as emergency replacements for Active Vein Finders.

Vein Finders Market Segment Analysis – By Application

The Vein Finders Market based on Application can be segmented into Blood Sample Collection and Cannulation. Cannulation had the largest share in the Vein Finders Market growing at a CAGR of 11.5% during the forecast period 2022-2027. This is owing to the growing application of Vein Finders in the areas of V fluid administration and Peripheral intravenous catheterization (PIVC). A study by NIH shows that in recent times, around 90% of hospitalized patients require peripheral cannulation for intravenous treatment, thereby further driving the Segment. Moreover, Vein Finders have proven especially useful for Cannulation procedures amongst Infants and Elderly People as well as dark-skinned people. However, Blood Sample Collection is poised to be the fastest-growing segment during the forecast period 2022-2027. This is owing to its increased popularity in medical laboratory testing, which primarily uses venous blood as a sample. A study by NIH shows that the use of Vein Finders helps phlebotomists with the location of veins, thereby preventing error in the specimen collection as well as discomfort to the patient.

Vein Finders Market Segment Analysis – By Geography

The Global Demand for Vein Finders Market based on Geography can be segmented into North America, South America, Europe, Asia-Pacific, and Rest of the World. The North America region dominated the Vein Finders market share of 30% in 2021. This is owing to the extensive demand for innovative medical devices as well as the increased investment in the region for Medical and Health research. The Region also suffers from high obesity prevalence as a study by Harvard shows that more than 35% of adults are obese. The North America segment is further being driven by multiple Fundraisers for Vein Finders, organizations such as Sharon Perry & Associates, and Great Ormond Street Hospital.

However, Asia Pacific is estimated to be the fastest-growing segment during the forecast period of 2022-2027 owing to the rising investments in innovative healthcare solutions in the region. Several countries in the region such as China and Japan have spent almost $300 billion on medical innovations as well as R&D, and have imposed regulatory reforms to implement them with ease. Furthermore, the rising instances of new cancer and diabetic patients in the region are further driving the Asia Pacific segment.

Vein Finders Market Drivers

The rising percentage of the aging population is driving the Vein Finders Market

As per the World Health Organization (WHO), the number of people aged 60 years and older will outnumber children younger than 5 years within 2020. Additionally, the proportion of the world's population aged 60 and up will nearly double from around 10% to over 20% between 2015 and 2050. Such an increase in the geriatric population is going to lead to increasing pathological testing and hospitalization. It is relatively difficult to locate the veins of elderly people and can lead to painful and inaccurate administration of drugs. Vein Finders enable easier detection of the patient’s veins and minimize the risk of infection. This will subsequently drive the Vein Finders Market.

The capability of Vein Finders to provide Intravenous access to diabetic patients will drive the Market

Several Physicians have revealed that patient characteristics such as hypertension and diabetes make Intravenous access considerably difficult. Diabetes leads to constriction of veins and leads to the visibility of superficial peripheral veins. To aid in difficult cannulation procedures amongst diabetic patients, several practitioners have enlisted the use of Vein Finder devices. A survey by the British Journal of Anesthesia reveals that using Vein Finder improved vein visibility by 4% amongst morbidly obese patients and also increased the visibility of additional veins by over 95%. A study by WHO also shows that diabetes cases have crossed the 500 million mark and there has been an increase in premature mortality rates from the disease. The study also reveals the increasing prevalence among low- and middle-income countries. Therefore, the rising instances of diabetic patients along with the benefit of Vein Finder in its treatment will drive the Vein Finders Market.

Vein Finders Market Challenges

High cost of Vein Finders equipment is hampering the market growth

A vein finder is an expensive medical device and only limited facilities can afford and not all. Vein finders from key players can cost anywhere between $5,000 to $7,000 per unit. Additionally, hospitals, private clinics, and diagnostic institutes that perform venipuncture procedures lack the financial resources to purchase larger, more powerful devices. Furthermore, even though hand-held vein finders are relatively inexpensive, they might be difficult to operate on self-infusing patients, thereby hampering the demand for Vein Finders.

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Global Vein Finders Industry Outlook

Product Launch and Acquisitions were the key strategies adopted by players in the Vein Finders Market. In 2022, the Vein Finders Market share is consolidated by the top ten players present in the market. Global Vein Finders top 10 companies include: -

AccuVein Inc.

B. Braun Medical Inc.

TransLite LLC.

Christie Medical Holdings

SIFSOF LLC

Stihler Electronic GmbH

Neotech Products.

InfraEyes Private Limited

Agappe Diagnostics Ltd.

Shenzhen ENMIND Technology Co., Ltd.

Recent Developments

In February 2021, AccuVein Inc released the Infusion Nurses Society’s (INS) newly released 2021 Infusion Therapy Standards of Practice recommend the use of NIR vein visualization technology in venipuncture procedures. It will help users assess peripheral venous sites and locate them.

In April 2020, TransLite LLC announced the launch of the PEDI2 vein finder solution which caters to pediatric patients. It has been designed to prevent children from suffering multiple sticks during venipuncture procedures.

In June 2019, CAREstream group announced its acquisition of Christie Medical Holdings, Inc., Chirstie Medical Holdings is a leader in vein visualization that operates in 50 countries worldwide.

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Vein Illumination Devices Market – Forecast (2022 - 2027)

Report Code: HCR 0049

Varicose Vein Treatment Market – Forecast (2022 - 2027)

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Deep Vein Thrombosis Market – Forecast (2022 - 2027)

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The Chiropractic Care Market size is forecast to reach $16.9 billion by 2027 and is expected to grow at a CAGR of 3.1% during the forecast period 2022-2027. Chiropractic Care involves the treatment and manipulation of the body joints in order to treat disorders of the musculoskeletal system and alleviate pain in several parts of the body, by using techniques such as Auriculotherapy and Spinal adjustments. Chiropractic care also involves the treatment of conditions affecting the nervous system, through vertebral subluxation, which helps ease pain in the Lower Back, Neck, as well as Muscles. Chiropractor care involves different types of treatment which include Adjustments, Soft Tissue Therapy, Guided Exercise, and Stretches as well as a combination treatment with integrative medicine such as Osteopathic Medicine.

Chiropractic care has garnered significant demand as an alternative treatment to option to prescription medicines. Back pain, Neck pain, Joint Pain, and Chronic pain have taken off in recent times due to Lifestyle changes, which have pushed the Chiropractic Care Market. Moreover, the comparative affordability of Chiropractic treatment for back pain, over conventional treatment methods has further driven the market.

Report Coverage

The report: “Chiropractic Care Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Chiropractic Care Market.

By Type: Pain Management Care, Functional Corrective Care, Maintenance and Preventative Care By Treatment Method: Chiropractic Adjustments, Soft-Tissue Therapy, Chiropractic Exercises and Stretches, Kinesio Taping, Others By Age Group: Below 21 years, 21-44 years, 45-64 years, Above 64 By End User: Hospitals, Rehabilitation Centers, Homecare Settings, Others By Geography: North America (U.S, Canada, Mexico, Rest of North America), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Europe (U.K, Germany, Italy France, Spain, Netherlands, Russia, Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, South Korea, Rest of Asia Pacific), Rest of the World (Middle East and Africa)

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Key Takeaways

Geographically, The North American Chiropractic Care Market accounted for the highest revenue share in 2021. This is owing to the presence of several key players in the regions who provide a wide range of Chiropractic Care services.

Several significant players, such as Chiro One Wellness Center and Courtyard Clinic, are increasingly focusing on extending their service capabilities through Mergers and Acquisitions to meet the rising demand for Chiropractic Care.

Chiropractic Care Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Chiropractic Care Market report.

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Chiropractic Care Market Segment Analysis – By Type

The Chiropractic Care Market based on type can be segmented into Pain Management Care, Functional Corrective Care, Maintenance, and Preventative Care. The Pain Management Care segment has the largest share in the Chiropractic Care Market in 2021. This is owing to Lifestyle changes that have led to rising instances of Chronic Neck and back pain across the globe. In fact, a study by WebMD shows that over 35% of patients opt for Chiropractic care in order to alleviate pain in the neck, arms as well as legs.

However, Maintenance and Preventative Care is estimated to be the fastest-growing segment with a CAGR of 4.8% during the forecast period 2022-2027. Maintenance and Preventative Care is a proven approach whereby patients continue treatment even after pain relief. A study by BioMed Central reveals that more Chiropractic patients are opting in for maintenance care, as it significantly reduces the instances of lower back pain, thereby allowing patients to evade high traditional treatment costs.

Chiropractic Care Market Segment Analysis – By Age Group

The Chiropractic Care Market based on Application can be segmented into Below 21 years, 21-44 years, 45-64 years, and Above 64. 45-64 years had the largest share in the Chiropractic Care Market in 2021. This is owing to the high demand for Chiropractic care amongst patients aged 45 to 64. A study by the National Institutes of Health (NIH), shows that almost 50% of the patients opting for Chiropractic Care are aged between 45-64. This is mainly due to the high prevalence of Neck Pain and Co-Morbid headaches in the age group.

However, 64 and above Age group is estimated to be the fastest-growing segment with a CAGR of 4.7% during the forecast period of 2022-2027. Chiropractic therapy has been found in studies to provide long-term pain alleviation, improved sleep, and increased energy levels for older patients by relieving tension. Furthermore, older adults are increasingly seeking Chiropractic treatment to help with balance and alignment difficulties. The segment is being driven even more by the world's continually rising geriatric population.

Chiropractic Care Market Segment Analysis – By Geography

The Global Demand for Chiropractic Care Market based on Geography can be segmented into North America, South America, Europe, Asia-Pacific, and the Rest of the World. The North American region dominated the Chiropractic Care market in 2021 with a market share of 38%. This is owing to the high standard of living as well as awareness in the region combined with a well-developed healthcare environment. Moreover, the region boasts of several key players who are further expanding their reach due to the growing demand for Chiropractic Care. Additionally,

However, Asia-Pacific is estimated to be the fastest-growing segment during the forecast period of 2022-2027 owing to the high economic growth which has led to an improved Standard of Living in the region. Patients are spending more on health and wellness due to the rise in income levels. Moreover, the growing penetration of Digital Health Access has had a significant impact on the awareness amongst the masses, as Chiropractic referrals have skyrocketed in recent times across the region, as per the Journal of Contemporary Chiropractic (JCC).

Chiropractic Care Market Drivers

Increased instances of back pain due to an Unhealthy Lifestyle, may drive the Chiropractic Care Market

Back pain has grown very common in recent years as a result of lifestyle changes. According to a WebMD survey, about 80% of the population will have serious back pain at some point in their lives. Back pain is the greatest cause of disability in the world, and it's also an expensive ordeal, with total global expenditures exceeding $400 billion in 2021. In recent years, a growing number of people have begun to seek chiropractic treatment because it reduces pain and improves function. According to Harvard University surveys, chiropractic care resulted in less painkiller use and a considerable reduction in lower back pain. As a result, the market is growing due to the effectiveness of chiropractic care in alleviating back pain.

Relatively Lower costs of Chiropractic care over Traditional treatment methods are driving the market

As per the World Health Organization (WHO), Healthcare is becoming more expensive all around the globe with Global spending accounting for up to 10% of a nation's GDP in some instances. Traditional Medication costs remain low in the short run but get expensive soon, as they are not long-lasting solutions. On the other hand, Initial Chiropractic Care Expenses may seem overwhelming but are significantly less in the long run as compared to traditional medical expenses. For instance, according to a survey undertaken by the International Chiropractors Association (ICA) on over 40,000 patients, the average cost of standard treatment was over $20,000, whereas chiropractic care expenses were just over $660, a difference of over 80%. The Significantly Lower costs have been instrumental in the Chiropractic Care Market’s growth.

Chiropractic Care Market Challenges

Potential complications and side effects arising from Chiropractic Care may hamper the Chiropractic Care Market’s growth

Although Chiropractic care in most cases is a safe bet and has also become increasingly popular, still the share of potential risks remains at large ranging from bone damage to a fatal stroke. Further, according to research published by the American Heart Association, chiropractic neck adjustments may be associated with an increased risk of stroke. Several cases of deaths caused by chiropractic neck adjustments have lately surfaced. Furthermore, chiropractic treatment is incompatible with a variety of patient types. Patients with osteoporosis or nerve damage, for example, may find that chiropractic treatment exacerbates their symptoms. According to recent statistics from the International Osteoporosis Foundation, worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime. These potential risk factors may hamper the Market’s growth.

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Chiropractic Care Industry Outlook

Product Launch and Acquisitions were the key strategies adopted by players in the Chiropractic Care Market. In 2022, the Chiropractic Care Market share is consolidated by the top ten players present in the market. Chiropractic Care top 10 companies include: -

Aarhus Chiropractic

Atlanta Chiropractic & Wellness

Cornerstone Chiropractic

Deloe Chiropractic Care

Chiro One Wellness Center

Rivera Chiropractic Center LLC

RiverTowne Family Chiropractic LLC

Rohlfs Chiropractic Care

PROSPINE Health and Injury Center

Chiropractic Company

Recent Developments

On April 6, 2022, FV Hospital announced the acquisition of The American Chiropractic Clinic (ACC). FV Hospital plants to improve their medical examination and treatment services through this acquisition.

In June 2021, Courtyard Clinic announced the acquisition of the Malmesbury Chiropractic Clinic (MCC). Through this acquisition, Courtyard Clinic will expand its Chiropractic care services in Malmesbury and surrounding areas.

In September 2019, Chiro One Wellness Center announced the acquisition of Schultz Chiropractic, also known as My Life Health Center, in order to expand its service capability in the State of Wisconsin, US.

Relevant Titles:

Chiropractic Software Market – Forecast (2022 - 2027)

Report Code: ITR 0297

U.S. Chiropractic Market – Forecast (2022-2027)

Report Code: HCR 26910

Spine Biologics Market – Forecast (2022 - 2027)

Report Code: HCR 0568

Microscopy Devices Market size is forecast to reach $8.1 billion by 2027 and is expected to grow at a CAGR of 7.7% during the forecast period 2022-2027. Microscopy devices are primarily utilized for activities such as Research and Development and quality control in industries like pharmaceuticals, electronics, and life sciences. Some of the most commonly used microscopy techniques include scanning probe microscopy, atomic force microscope, scanning tunneling microscope, near-field scanning Optical microscope, and fluorescence interference contrast microscopy. The surge in Research and Development activities in the biopharmaceutical and healthcare industry combined with the rising production of semiconductor chips in 2022 after the massive decline in the industry during 2020, are some of the key factors driving the growth of the microscopy devices industry during the forecast period.

Microscopy Devices Market Report Coverage

The report: “Microscopy Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Microscopy Devices Market.

By Product Type: Optical Microscopes, Confocal Microscopes, Stereo Microscopes, Digital Microscopes, Compound Microscopes, Electron Microscopes (scanning electron Microscopes, Transmission electron Microscopes), Scanning Probe Microscopes, Atomic Force Microscopes, Scanning Tunneling Microscopes, Near-Field Scanning Optical Microscopes and Other Microscopes. By Type: Microscopes, Accessories, Software. By Application: Nanotechnology, Life Science, Semiconductor, Material Science and Others. By End Use Industry: Hospitals, Clinics, Diagnostics Laboratories, Academic & Research Organizations and Others By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Columbia and Rest of South America), and Rest of the World (Middle East, and Africa)

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Key Takeaways

North America dominated the microscopy devices market in the year 2021 owing to the presence of a high number of Research and Development institutions, academic institutions, biopharmaceutical companies, and the existence of advanced healthcare infrastructure in the region.

Growing technological advancements in the field of microscopy coupled with the rising R&D expenditure of major end-user industries are anticipated to drive the market during the forecast period.

However, the extremely high cost of advanced microscopy devices and their subsystems are anticipated to hamper the market growth of the microscopy devices Industry.

Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Microscopy devices Market report.

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Microscopy Devices Market Segment Analysis – By Product Type

Based on Product Type, the microscopy devices market can be segmented into optical microscopes, confocal microscopes, stereo microscopes, digital microscopes, compound microscopes, electron microscopes, scanning electron microscopes, transmission electron microscopes, scanning probe microscopes, atomic force microscopes, scanning tunneling microscopes, near-field scanning optical microscopes, and other microscopes. The Scanning Probes Microscope segment accounted for the largest share of the market in 2021 owing to its ability to visualize subcellular components. The growth of this category is being fueled by an increase in the number of applications and quick technical advancements. Natural surface topography, research nanostructures such as integrated circuits and diffraction gratings, and biological materials such as DNA and cell membranes all use SPMs. However, the Electron Microscope segment is anticipated to witness the fastest growth with a CAGR of 8.9% during the forecast period of 2022-2027 owing to its extensive use in research laboratories, universities, and nanotechnology centers for both research and quality assurance applications. With the use of an electron microscopes in such institutions, the structure of various specimens can be observed in great detail to provide information about their function. However, the compound microscope segment is also anticipated to witness robust growth owing to its relatively low cost. Besides, they are also widely used in academic institutions and medical laboratories for studying biological samples.

Microscopy Devices Market Segment Analysis – By Application

Based on Application, the microscopy devices market can be further segmented into nanotechnology, life science, semiconductor, material science, and others. The life sciences segment accounted for the largest share of the microscopy devices market in 2021. This is attributed to the rapid growth of the biopharmaceutical industry during the COVID-19 pandemic. This growth has directly resulted in the rise in R&D and product development activities in the industry. Besides, highly advanced equipment such as electron microscopes is also used in the segment for numerous research activities. However, the semiconductor segment is anticipated to witness the fastest growth with a CAGR of 9.0% during the forecast period 2022-2027 owing to the rapid rise in manufacturing of semiconductor chips in 2022 after the rapid decline of the industry in 2020. For instance, according to the Semiconductor Industry Association, the YoY(Year on Year) semiconductor sales increased by 24% in October 2021 and are anticipated to exceed $600 billion in 2022.

Microscopy Devices Market Segment Analysis – By Geography

North America dominated the geography segment of the Microscopy Devices Market in 2021 with a share of approximately 38%. The rapid growth of the segment is owing to the presence of a highly developed healthcare sector in the US and Canada. Besides, the presence of the majority of the key players operating in the market such as FEI Company, CAMECA Instruments, NT-MDT, Bruker Corporation, and Danaher Corporation. The high domestic competition owing to the presence of major players in the region results in greater innovation and more awareness regarding advanced microscopy devices among the end-user industries in North America.

The Asia Pacific region is anticipated to register the fastest growth during the forecast period 2022-2027 owing to the rising disposable income in major emerging economies such as China and India. moreover, owing to the integration of artificial intelligence in microscopy devices, the Asia Pacific microscopy devices market is likely to rise significantly. For example, in April 2020 Tencent AI Lab developed a smart microscope that uses artificial intelligence (AI) to better assist physicians in identifying cancer and other ailments. The smart microscope is the first of its kind to be granted a license by China's National Medical Products Administration, allowing it to be used in clinical settings which are poised to drive the market growth.

Microscopy Devices Market Drivers

Growing R&D expenditure in biopharmaceutical companies is driving the market growth

The rapid rise in the R&D expenditure of companies operating in the biopharmaceutical industry is driving the market growth as microscopy devices are extensively used within the industry during the research, formulation, and manufacturing stages of pharmaceutical products. For instance, the R&D expenditure of the world’s 11 big pharma companies jumped 11% to $86.3 billion in 2020. Furthermore, it is estimated that Roche invested around 23.8% of its total drug sales back into R&D in 2020. Meanwhile, Pfizer’s R&D expenditure surged from $9.39 billion in 2020 to approximately $13.83 billion in 2021.

Rapid technological developments in the microscopy devices sector are poised to increase the growth of the market

Rapid rise in technological advancements within the global microscopy devices industry is driving the market growth during the forecast period 2022-2027. For instance, in 2021, researchers at the Swiss Federal Institute of Technology developed a new microscopy technique that combines two existing ones, allowing scientists to build high-definition 3D images of cells inside and out. Meanwhile, in 2020, a research team from the Institute of Basic Science (IBS) in Seoul, South Korea made a major breakthrough in deep-tissue optical imaging. They developed a novel optical microscope that can image through an intact skull and acquire a microscopic map of neural networks in the brain tissues without losing spatial resolution.

Microscopy Devices Market Challenges

High cost of microscopy devices is likely to challenge the market growth

The high cost of microscopy devices is a major factor that is challenging product adoption among end-users during the forecast period. For instance, the cost of FEI Tecnai F20 electron microscope can reach approximately $592,500 while a single Philips CM 200F TWIN electron microscope can cost end users up to $450,000. Besides, the price for such devices can go as high as $10 million. Such high costs make them unaffordable for a large number of end-users, especially for those in developing regions.

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Microscopy Devices Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Microscopy Devices Market. In 2021, the Microscopy Devices Market share is fragmented by the top ten players present in the market. The Microscopy Devices Market, top 10 companies are:

FEI Company

Carl Zeiss AG

Bruker Corporation

Danish Micro Engineering A/S

Cameca SAS

Leica Microsystems

NT-MDT Company

JEOL Ltd.

Nikon Corporation

Olympus Corporation

Recent Developments:

In February 2021, Zeiss announced the launch of a new digital microscope with an extended depth of field in real-time. The Zeiss Visioner 1 is an innovative digital microscope that for the first time enables all-in-one focus in real-time thanks to its Micro-mirror Array Lens System (MALS™).

In February 2021, Nikon launched the ECLIPSE Si upright microscope, with intelligent time-saving features, an automatic shut-off mode, and an ergonomic design to reduce the physical strain that can result from prolonged microscope use. The ECLIPSE Si also features intelligent features such as a Light Intensity Management function which reduces the time spent on adjusting the light intensity when changing magnifications.

In June 2019, Olympus Corporation announced the launch of the DSX1000 digital microscope, which significantly improves users’ inspection workflow and enables the analysis of a wide variety of samples with a single tool. The DSX1000 digital microscope is used to observe and measure a variety of samples, including electronic components and metal materials.

Relevant Titles:

Spinning Disk Confocal Microscope Market - Forecast (2022 - 2027)

Report Code: AIR 0231

Scanning Electron Microscope (SEM) Market - Forecast (2022 - 2027)

Report Code: ESR 0125

Electron Microscopy Market - Forecast (2022 – 2027)

Report Code: HCR 0065

Absorbable Surgical Sutures Market size is estimated to reach $4.9 billion by 2026, growing at a CAGR of 4.61% during the forecast period 2021-2026. Absorbable Surgical Sutures are clean, malleable strands made from collagen extracted from healthy mammals, or an artificial polymer. Sutures made from artificial polymer can be in either monofilament or multifilament form. The increase in the count of hospital admittances of patients with incessant ailments for the long term and the boost in instances of trauma across developed and developing economies is driving the growth of the Absorbable Surgical Sutures market. Polyglycolic Acid Suture is an absorbable, clean, synthetic surgical suture, constructed of homopolymers of Glycolide (100%). Polylactic acid (PLA) surgical sutures are novel absorbable sutures that can be degenerated and absorbed in the body. However, there is great hydrophobicity for the surface of PLA sutures, which results in impoverished biocompatibility and cellular affinity. Chromic Gut absorbable antiseptic surgical sutures are constructed of purified connective tissue (mostly collagen) extracted from the serosal layer of beef (bovine) intestines. They are packaged in a solution of 89% isopropanol, 10% water, and 1% triethanolamine. Chromic Catgut Suture is an absorbable clean surgical gut suture constructed of purified connective tissue (mostly collagen) extracted from the submucosal fibrous layer of healthy sheep intestines. The chromic suture is treated to offer bigger resistance to absorption and treated with chromic salts to lag absorption. Colorless / Violet Polyglycolide-co-caprolactone PGCL dental suture Monokaprol is a temporary absorbable, artificial, and monofilament surgical suture. This suture is colorless for closing surface injuries and violet color for additional activities. The proliferating specialization and technological progress in surgical sutures methods performed by a great count of hospitals and ambulatory surgery departments are set to propel the growth of the Absorbable Surgical Sutures Market during the forecast period 2021-2026. This represents the Absorbable Surgical Sutures Market Industry Outlook.

Report Coverage

The report: “Absorbable Surgical Sutures Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Absorbable Surgical Sutures Market.

By Raw Material: Natural Sutures (Catgut, Silk), Synthetic Sutures. By Filament: Monofilament, Multifilament. By Application: Ophthalmic Surgery, Cardiovascular Surgery, Orthopaedic Surgery, Neurological Surgery, Others. By End User: Hospitals, Clinics, Ambulatory Surgical Centers. By Geography: North America (the U.S, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Rest of South America) and Rest Of The World (Middle East, Africa).

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Key Takeaways

Geographically, North America Absorbable Surgical Sutures Market accounted for the highest revenue share in 2020 and it is poised to dominate the market over the period 2021-2026 owing to the acceptance of technologically advanced instruments like polyglycolic acid sutures and polylactic acid (PLA) surgical sutures, great domestic income and the presence of key players like Medtronic in the North-American region.

Absorbable Surgical Sutures Market growth is being driven by the boost in the utilization of absorbable surgical sutures like polyglycolic acid sutures for the closing of clean injuries and general closing. However, the heightening demand for progressive wound closure materials and the scarcity of product innovations in absorbable surgical sutures are acting as the major factors hampering the growth of the Absorbable Surgical Sutures Market.

Detailed Analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Absorbable Surgical Sutures Market report.

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Absorbable Surgical Sutures Market Segment Analysis – By Raw Material:

The Absorbable Surgical Sutures Market based on raw material can be further segmented into Natural Sutures and Synthetic Sutures. The Synthetic Sutures Segment held the largest market share in 2020. This growth is owing to the extensive application of synthetic sutures in treating cardiovascular issues. As per the World Health Organization (WHO), an approximated 17.9 million people lost their lives from cardiovascular diseases (CVDs) in 2019, depicting 32% of all fatalities worldwide and of these fatalities, 85% were owing to heart attack and stroke. Synthetic sutures made of Polydioxanone (PDS) may be utilized for many kinds of soft tissue wound restoration (like abdominal closures) and pediatric cardiac techniques. Poliglecaprone (MONOCRYL) is a synthetic monofilament suture utilized for general application in soft tissue restoration and is most typically utilized to close the skin in a hidden form. Synthetic sutures also include polylactic acid (PLA) surgical sutures and polyglycolic acid sutures. Furthermore, the Natural Sutures segment is estimated to grow with the fastest CAGR of 5.4% during the forecast period 2021-2026 owing to the boost in the utilization of Gut sutures for restoring internal soft tissue injuries or lesions.

Absorbable Surgical Sutures Market Segment Analysis – By Application:

The Absorbable Surgical Sutures Market based on the application can be further segmented into Ophthalmic Surgery, Cardiovascular Surgery, Orthopaedic Surgery, Neurological Surgery, and Others. The Cardiovascular Surgery Segment held the largest market share in 2020. This growth is owing to the increasing predominance of cardiovascular diseases worldwide. As per the World Health Organization (WHO), of the 17 million premature demises (under the age of 70) owing to non-communicable ailments in 2019, 38% were brought about by cardiovascular diseases (CVDs). This high predominance of cardiovascular diseases is driving the growth of the Cardiovascular Surgery segment characterized by greater utilization of polylactic acid nanofibrous scaffolds for cardiovascular tissue engineering. Furthermore, the Others segment is estimated to grow with the fastest CAGR of 5.7% during the forecast period 2021-2026 owing to the increased application of polylactic acid nanofibrous scaffolds for musculoskeletal, nervous, and cutaneous tissue engineering.

Absorbable Surgical Sutures Market Segment Analysis – By Geography:

The Absorbable Surgical Sutures Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Absorbable Surgical Sutures Market Market) held the largest share with 33% of the overall market in 2020. The growth of this region is owing to the increasing count of surgeries and the rapid acceptance of progressive technology in the North-American region. As per the Centers For Disease Control And Prevention (CDC), hypertension, or high blood pressure, is a chief hazard factor for cardiovascular disease and brings about an approximated 10 million demises globally every year. The heightening predominance of cardiovascular disease is fuelling the growth of the absorbable surgical sutures market in the North American region. Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2021-2026. This growth is owing to factors like the enormous population resulting in powerful business prospects in the Asia-Pacific region with firms working on broadening their product portfolio, varied enterprise applications, and lesser costs. The increasing disposable income and the boost in spending on healthcare are further propelling the progress of the Absorbable Surgical Sutures Market in the Asia-Pacific region.

Absorbable Surgical Sutures Market Drivers

Utilization Of Absorbable Surgical Sutures In Medical Textile Industry Is Projected To Drive The Growth Of Absorbable Surgical Sutures Market:

The present-day medical textile industry is manufacturing the most advanced polymeric textile implantable instruments that are reformulating conventional materials and techniques of surgery. These advanced high-tech polymer materials are conceived for particular applications in surgical and interventional techniques. Polyglycolic acid sutures and polylactic acid (PLA) surgical sutures are already being extensively used. One of the novels bio textile products is an absorbable bi-directional pointed surgical suture that does not need surgical knots for closing injuries. This novel concept is in the spotlight of heaps of physicians and surgeons where the closing of injury or tissue approximation is required. The pointed suture can alter the manner closing of injury is observed in different areas of surgery and veterinary medicine. The pointed sutures may be utilized in dermal tissue approximation, internal wound closure, and tendon repair. These different applications of the future will permit the product to create a series of market opportunities. The utilization of polydioxanone and the pointed or barbed configuration permits the suture to be sub-dermal which means that there will be nil apparent signs of a wound closure instrument at the time of and consequent to healing. These determinants are fuelling the growth of the Absorbable Surgical Sutures Market during the forecast period 2021-2026.

Innovations In Suture Materials Are Expected To Boost The Demand Of The Absorbable Surgical Sutures Industry:

Innovations in suture materials are driving the growth of the Absorbable Surgical Sutures Market. Polyglycolic Acid Sutures and Polylactic acid (PLA) surgical sutures are the typical absorbable surgical sutures in the application. Poly-4-Hydroxybutyrate (P4HB) is a thermoplastic linear polyester, created by recombinant fermentation that may be transformed into an extensive series of absorbable medical instruments. From the time of being endorsed by the Food and Drug Administration (FDA) in 2007, P4HB has been utilized as a suture for tendon and ligament repair, surgical mesh instruments, and other plastic and reconstructive materials. In foot and ankle surgery, P4HB has potential in tendon and ligament repair as it possesses a tensile strength during surgery equal to non-absorbable suture but will reabsorb over 12-18 months. These kinds of innovations are propelling the growth of the Absorbable Surgical Sutures Market during the forecast period 2021-2026.

Absorbable Surgical Sutures Market Challenges

Evolution Of Advanced Wound Care Dressings And Alternatives Like Surgical Staplers Are Challenging The Absorbable Surgical Sutures Market:

Absorbable Surgical Sutures like polyglycolic acid sutures and polylactic acid (PLA) surgical sutures are extensively utilized. However, 3M Advanced Wound Care Solutions has developed many innovative wound care solutions for treating challenging wounds. For example, 3M™ Tegaderm™ Alginate Ag Silver Dressings Tegaderm™ Alginate Ag Dressings offer antimicrobial silver, soft gelling absorbency, and fiber durability to control crucially migrated wounds and wounds at exposure to infection. The benefits include antimicrobial efficiency, soft-gelling absorbency, and one-piece elimination. Furthermore, the accessibility to surgical staplers poses challenges. Surgical staplers are utilized for internal application to transfer staples to tissues within the body at the time of surgery for eliminating a portion of an organ (resection), piercing through and closing organs and tissues (transection), and producing linkages between structures (anastomoses). Surgical staplers and staples for external application are utilized exteriors to the body to close large wounds or surgical cuts on the skin or scalp of a patient. Some of the benefits of surgical staplers and staples encompass rapid placement, nominal tissue reaction, and powerful wound closure. The presence of these advanced alternative options is hampering the growth of the Absorbable Surgical Sutures market.

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Absorbable Surgical Sutures Market Landscape:

Technological advancements, enhancing the quality of material utilized in sutures, improved treatment of the site of the wound, and the extension of production capacity are key strategies adopted by players in the Absorbable Surgical Sutures Market. Key companies of this market include:

B. Braun Melsungen AG

Ethicon, Inc. (Johnson & Johnson)

Medtronic Plc.

DemeTECH Corporation

Smith & Nephew

Zimmer Biomet Holdings, Inc.

Meril Life Sciences Private Limited

Teleflex Medical OEM

ConMed Corporation

Boston Scientific Corporation

Acquisitions/Product Launches:

In March 2021, Ethicon, the portion of the Johnson & Johnson Medical Devices Companies declared the worldwide kick-off of the ECHELON+ Stapler with GST Reloads, a novel powered surgical stapler planned to boost staple line safety and decrease complexities by way of additional consistent tissue compression and superior staple arrangement, even in testing circumstances.

In December 2020, Medtronic plc declared the U.S. commercial kick-off of the Carpediem™ Cardio-Renal Pediatric Dialysis Emergency Machine. Coming after the U.S. Food and Drug Administration's (FDA) marketing endorsement, accorded earlier during the year, the earliest Carpediem™ systems in the U.S. were favorably set up and are in the application at Cincinnati Children's Hospital Medical Center.

Related Reports:

Surgical Sutures Market - Forecast(2021 - 2026) Report Code: HCR 0390

Abdominal Aortic Aneurysm Treatment Market size is estimated to reach $2.67 billion by 2027, growing at a CAGR of 5.82% during the forecast period 2022-2027. Abdominal aortic aneurysms are frequently discovered when a physical examination is performed for another reason or at the time of normal medical tests, like an ultrasound of the heart or abdomen. The objective of abdominal aortic aneurysm treatment is to avoid an aneurysm from breaking. Treatment may include cautious supervision or surgery. The kind of treatment adopted, relies on the size of the aortic aneurysm and how quickly it is developing. CT scan assesses the abdomen in more detail in patients with a particular abdominal grievance. It also evaluates the form of the aneurysm with more inclusive anatomical details of the mesenteric and iliac arteries, and also offers superior imaging of suprarenal aneurysms. Helical CT angiography can represent complexities that establish consequently to the treatment of abdominal aortic aneurysms with endovascular stent grafts. Long-term follow-up is needed to decide the complete spectrum and frequency of complexities that may establish after a favorable fix at the beginning. Conservation of spinal cord blood supply at the time of descending thoracic (TAA) and thoracoabdominal aortic aneurysm (TAAA) surgery is mandatory to avoid neurologic complexities. Investigations have been conducted to determine whether the preoperative and postoperative existence or absence of collateral arteries discovered by magnetic resonance angiography (MRA) is connected with spinal cord function at the time of the intraoperative exclusion of the segmental supply to the Adamkiewicz artery.

The increasing predominance of hypertension and hyperlipidemia is set to drive the Abdominal Aortic Aneurysm Treatment Market. The surging count of smokers with elderly male smokers requiring ultrasound screening along with pre-existing CT scans is set to propel the growth of the Abdominal Aortic Aneurysm Treatment Market during the forecast period 2022-2027. This represents the Abdominal Aortic Aneurysm Treatment Industry Outlook.

Abdominal Aortic Aneurysm Treatment Market Report Coverage

The report: “Abdominal Aortic Aneurysm Treatment Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the  Abdominal Aortic Aneurysm Treatment Market.

By Treatment: Open Surgical Repair (OSR), Endovascular Aneurysm Repair (EVAR). By Product: Stent Graft, Catheter. By End Use: Hospital, Ambulatory Surgical Center, Others. By Geography: North America (U.S, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

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Key Takeaways

Geographically, North America Abdominal Aortic Aneurysm Treatment Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of abdominal aortic aneurysm requiring abdominal and pelvic CT scans for deciding the size and extent of an aneurysm in the North American region.

Abdominal Aortic Aneurysm Treatment Market growth is being driven by the rising pervasiveness of abdominal aortic aneurysm globally requiring abdominal and pelvic CT scans for deciding the size and extent of an aneurysm owing to altered lifestyle and the expanding population of the elderly. However, the cost and availability of treatment are some of the major factors hampering the growth of the Abdominal Aortic Aneurysm Treatment Market.

Abdominal Aortic Aneurysm Treatment Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the   Abdominal Aortic Aneurysm Treatment Market report.

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Abdominal Aortic Aneurysm Treatment Market Segment Analysis – By Treatment:

The Abdominal Aortic Aneurysm Treatment Market based on treatment can be further segmented into Open Surgical Repair (OSR) and Endovascular Aneurysm Repair (EVAR). The Endovascular Aneurysm Repair (EVAR) Segment held the largest market share in 2021. This growth is owing to the enhanced patient survival offered by the Endovascular Aneurysm Repair technique. Endovascular repair (EVAR) is the positioning of a stent graft (fabric-covered tube) into the aneurysm by way of a tiny hole in the blood vessels in the groin. CT scan has been performed consequent to Endovascular Repair of Abdominal Aortic Aneurysms. The heightened demand for minimally invasive processes owing to minimized hospital stays and patient trauma in conjunction with the soaring success rate provided by technologically progressive devices is further propelling the growth of the Endovascular Aneurysm Repair (EVAR) segment.

Furthermore, the Open Surgical Repair (OSR) segment is estimated to grow with the fastest CAGR of 6.5% during the forecast period 2022-2027 owing to the superior outcomes of open surgical repair (OSR) in comparison with endovascular aneurysm repair (EVAR) for infrarenal abdominal aortic aneurysm (IRAAA) as per results of a retrospective cohort investigation issued in the Journal Vascular Brasileiro and CT scan is recommended with or without contrast at 5-year intervals after open surgical repair for thoracic aortic disease.

Abdominal Aortic Aneurysm Treatment Market Segment Analysis – By Product:

The Abdominal Aortic Aneurysm Treatment Market based on the product can be further segmented into Stent Graft and Catheter. The Stent Graft Segment held the largest market share in 2021. This growth is owing to the surging application of stent-grafts in Abdominal Aortic Aneurysm Treatment. Nellix and Ovation stent-grafts are novel generation prostheses that use polymer technology to treat abdominal aortic aneurysms. CT scan can be performed postoperatively. The benefits of endovascular repair with stent-graft are further propelling the growth of this segment.

Furthermore, the Catheter segment is estimated to grow with the fastest CAGR of 6.7% during the forecast period 2022-2027 owing to the surging application of Catheter-based aortic aneurysm repair attributed to it being a safe and preferred option of treatment for numerous patients with aortic aneurysms and investigations being conducted for intra-arterial catheter=directed CT angiography for evaluation of endovascular aortic aneurysm repair.

Abdominal Aortic Aneurysm Treatment Market Segment Analysis – By Geography:

The Abdominal Aortic Aneurysm Treatment Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Abdominal Aortic Aneurysm Treatment Market) held the largest share with 39% of the overall market in 2021. The growth of this region is owing to the increasing predominance of abdominal aortic aneurysms in the region. The continued technological upgrades in the healthcare sector and the increasing predominance of cardiovascular diseases requiring CT scans are further driving the growth of the Abdominal Aortic Aneurysm Treatment Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like expanding population of the elderly being more susceptible to incessant ailments requiring the application of CT scans in the Asia-Pacific region. The supportive government policies increased spending on healthcare, and proliferating modernization of medical infrastructure are further fuelling the progress of the   Abdominal Aortic Aneurysm Treatment Market in the Asia-Pacific region.

Abdominal Aortic Aneurysm Treatment Market Drivers

Surging Applications Of Abdominal Computed Tomography Angiography Are Projected To Drive The Growth Of   Abdominal Aortic Aneurysm Treatment Market:

Computed tomography angiography (CTA) transformed vascular imaging when vessels tinier than 1 mm in diameter were imaged with single-slice spiral CT. Other than its restricted invasiveness, the benefits of CT Angiography involve reduced cost and a possible minimization in the total volume of contrast material administered. With the quickest scanners presently accessible (16, 64, 256 slices), abdominal Computed Tomography Angiography may be carried out with as little as 50 mL of contrast material utilizing a saline flush. Typical abdominal uses of CTA involve assessment of the abdominal aorta, preoperative and postoperative evaluation for renal and liver transplantation, preoperative planning for hepatic segmentectomy and pancreatic surgery, mesenteric ischemia, and gastrointestinal (GI) hemorrhage. Additional uses involve cholecystectomy and splenectomy planning, and evaluation for renal arterial disease in the assessment of hypertension. The protocols for every use should be separately tailor-made to optimize imaging of the targeted vascular structures. CTA is typically the approved imaging modality for the assessment of the abdominal aorta in intense and non-emergent settings. The surging applications of abdominal computed tomography angiography are therefore fuelling the growth of the Abdominal Aortic Aneurysm Treatment Market during the forecast period 2022-2027.

Heightened Applications Of Magnetic Resonance Angiography For The Treatment of Infrarenal Abdominal Aortic Aneurysms Are Expected To Boost The Demand Of Abdominal Aortic Aneurysm Treatment Market:

Magnetic resonance angiography (MRA) like Computed Tomography Angiography (CTA) has the advantage of being able to envision the complete aorta inclusive of its branch vessels. Dissimilar to CTA, it does not reveal the patient to radiation nor is iodinated contrast dye needed. This can be more attractive for patients with a contrast allergy or renal inadequacy. In patients with kidney ailments, non-gadolinium contrast agents prevail. Blood pool contrast agents, like ferumoxytol, may be utilized to improve MRA to offer good imaging quality. Additionally, typical investigations have discovered that non-contrast magnetic resonance imaging (MRI), when teamed with electrocardiographic- and cardiac-gated methods, has identical image quality in comparison with contrast-enhanced MRA images of the aorta. Time-resolved 3D phase-contrast MRI with three-directional velocity encoding, also termed as 4D flow MRI has currently emerged as an instrument to more thoroughly assess abdominal circulation. 4D flow MRI may permit for more precise aortic modeling in the future owing to its capability to concurrently assess vascular anatomy and hemodynamics. MRA is commensurate to CTA with respect to the precision of AAA assessments. The heightened applications of Magnetic Resonance Angiography for the treatment of Infrarenal Abdominal Aortic Aneurysms are driving the growth of the Abdominal Aortic Aneurysm Treatment Market during the forecast period 2022-2027.

Abdominal Aortic Aneurysm Treatment Market Challenges

Handling Of The Ruptured Abdominal Aortic Aneurysm By Paramedics Poses Challenges To The Growth Of The Abdominal Aortic Aneurysm Treatment Market:

The ruptured abdominal aortic aneurysm is a time-critical medical emergency needing timely surgical intervention to provide any opportunity of survival. Even when identified early, 90% of patients will endure an out-of-hospital cardiac arrest prior to landing at the emergency department and of those who arrive at the theatre, only 40% will survive. The ruptured AAA needs urgent surgical intervention. These kinds of patients cannot be stabilized in the prehospital environment and endeavors to do so will be pointless and are likely to jeopardize patient care. The paramedic practitioners handling of the ruptured AAA must involve, and sometimes be restricted to, accelerated identification and practical transport to a hospital with competence in handling vascular emergencies. Intravascular access must not defer transport to a suitable receiving facility. Prehospital interventions like fluid administration can minimize the occurrence of post-operative complexities like acute renal failure. However, this should not be utilized to legitimize numerous cannulation efforts on the scene. The establishment of a fast-track pathway for direct admission to theatre could possibly save lives. Further research and the establishment of such a pathway should include all members of the multi-disciplinary team. These issues are hampering the growth of the Abdominal Aortic Aneurysm Treatment Market.

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Abdominal Aortic Aneurysm Treatment Market - Landscape:

Product launches, mergers and acquisitions, joint ventures, and R&D Activities are key strategies adopted by players in the   Abdominal Aortic Aneurysm Treatment Market. Key companies of this market are:

Novartis Pharmaceuticals

Merck

Cook Medical Inc.

Endologix Inc.

W.L.Gore & Associates

Medtronic Plc.

Cardinal Health Inc.

Lombard Medical, Inc.

Terumo Aortic

Cardiatis S.A.

Recent Developments

In April 2021, Cardinal Health introduced Outcomes™, a digital ecosystem linking pharmacists, payers, and pharmaceutical firms to diminish the challenges of medicine non-adherence. Outcomes convey digital health solutions for personalized medication therapy administration, digital patient engagement, and tele pharmacy, through its Connect™ platform. Therefore, these three customer groups can enhance patient adherence to medicine, fuel superior health outcomes for patients, and reduce the cost of care.

In July 2020, Novartis declared a novel initiative to assist patients in low-income and lower-middle-income countries (LIC; LMIC) access economical medications to treat the principal symptoms of COVID-19 – a crucial requirement in the absence of a vaccine or curative treatment. Inflammation and respiratory issues connected with COVID-19 may bring about serious medical complexities and may result in demise in certain people, establishing an enormous burden on delicate healthcare systems. The Novartis COVID-19 portfolio involves 15 medications from its Sandoz division for gastrointestinal sickness, intense respiratory symptoms, pneumonia, and septic shock.

In March 2020, Endologix® Inc. declared that it has accepted an endorsement from the U.S. Food and Drug Administration (FDA) for the Alto™ Abdominal Stent Graft System (Alto). The firm accepted endorsement based on its supervisory compliance that involves the ELEVATE Investigational Device Exemption (IDE) clinical investigation. Agreeable to the terms of endorsement, the earliest 100 patients consequent to commercial introduction will be involved in a post-approval imaging study to decide constancy in instrument choice between Endologix’s internal imaging services and those of the implanting physicians.

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3D Printed Medical Devices Market size is estimated to reach $5.7 billion by 2027, growing at a CAGR of 14.7% during the forecast period 2022-2027. 3D printers are utilized to produce an assortment of medical devices, inclusive of those with complicated geometry or characteristics that match the rare anatomy of a patient. Certain instruments are printed from a standard design to prepare numerous exact copies of the identical device. Medical instruments generated by 3D printing technology are inclusive of orthopedic and cranial implants, surgical instruments, dental restorations like crowns, and external prosthetics. The adaptability of 3D printing technology permits designers to make alterations effortlessly without the requirement to set up added machinery or appliances. 3D Bioprinting is the technique of printing biomedical structures with the application of reasonable cells, biological molecules, and biomaterials. Bioprinters or 3D bioprinters are automatized instruments for the additive fabrication of 3D functional tissues and organs based on the digital models that are built through different scans utilizing biomaterials. The soaring surge in public-private financing to back different initiatives in the 3D Printing industry is set to drive the 3D Printed Medical Devices Market. The heightened application of 3D printing technology to offer the advantages of customized treatments at an economical price to the patients is set to propel the growth of the 3D Printed Medical Devices Market during the forecast period 2022-2027. This represents the 3D Printed Medical Devices Industry Outlook.

Report Coverage

The report : “3D Printed Medical Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the 3D Printed Medical Devices Market.

By Type: Surgical Guides, Surgical Instruments, Prosthetics And Implants, Tissue Engineering Products.

By Technology: Photopolymerization, Droplet Deposition (DD) Or Extrusion-Based Technologies, Laser Beam Melting, Electron Beam Melting (EBM), Three Dimensional Printing (3DP) Or Adhesion Bonding.

By Geography: North America (the U.S, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

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Key Takeaways

Geographically, North America 3D Printed Medical Devices Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging high-quality products being provided utilizing progressive technology like 3d printing technology ensuing from considerable financing in research and development in the North American region.

3D Printed Medical Devices Market growth is being driven by the proliferating medical applications of 3d Printing Technology in the healthcare industry by offering advantages like customizations, personalization of medical products, and enhanced productivity. However, the deficiency of a proficient workforce owing to restricted specialized training in additive manufacturing is one of the major factors hampering the growth of the 3D Printed Medical Devices Market.

3D Printed Medical Devices Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the 3D Printed Medical Devices Market report.

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3D Printed Medical Devices Market Segment Analysis – By Type:

The 3D Printed Medical Devices Market based on type can be further segmented into Surgical Guides, Surgical Instruments, Prosthetics And Implants, and Tissue Engineering Products. The Prosthetics And Implants Segment held the largest market share in 2021. This growth is owing to the soaring application of 3d printing technology for customization of prosthetics and implants offering value addition to both patients and physicians. Customized implants have a positive effect on the time needed for surgery, patient recovery time, and the success of the implant. The surging benefits of 3D printed implants like being MRI-compatible and reduction in hazard of infections are further propelling the growth of the Prosthetics And Implants segment.

Furthermore, the Surgical Guides segment is estimated to grow with the fastest CAGR of 15.2% during the forecast period 2022-2027 owing to the soaring application of 3d printed surgical guides based on the DICOM data which is patient-particular for the precise positioning of the implant in the bone structure in conjunction with the application of other surgical instruments.

3D Printed Medical Devices Market Segment Analysis – By Technology:

The 3D Printed Medical Devices Market based on technology can be further segmented into Photopolymerization, Droplet Deposition (DD) Or Extrusion-Based Technologies, Laser Beam Melting and Electron Beam Melting (EBM), Three Dimensional Printing (3DP), Or Adhesion Bonding. The Photopolymerization Segment held the largest market share in 2021. This growth is owing to the soaring application of photopolymerization across the medical industry for prosthetics, implants, dental restorations, and porous scaffolds. Photocurable adhesives are utilized in the manufacture of surgical instruments like catheters and surgical masks. The advantages of photopolymerization like being solvent-free and energy-effective and the ability to be utilized for heat-sensitive substances are further propelling the growth of this segment.

Furthermore, the Three Dimensional Printing (3DP) Or Adhesion Bonding segment is estimated to grow with the fastest CAGR of 15.4% during the forecast period 2022-2027 owing to the surging application of 3d printing technology attributed to its advantages like malleable design, accelerated prototyping, print on demand, robust and lightweight parts, and quick design and manufacture in conjunction with benefits of adhesion bonding like continuous bond and enhanced appearance.

3D Printed Medical Devices Market Segment Analysis – By Geography:

The 3D Printed Medical Devices Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (3D Printed Medical Devices Market) held the largest share with 41% of the overall market in 2021. The growth of this region is owing to the existence of the U.S. which is the biggest global producer and consumer of medical devices including surgical instruments in the region. The soaring acceptance of 3D printed medical devices by leading hospitals and laboratories as part of their medical practice and research endeavors are further driving the growth of the 3D Printed Medical Devices Market in this region. The accelerated incorporation of progressive technologies like artificial intelligence in 3D printed medical devices is further propelling the growth of the 3D Printed Medical Devices Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like surging government initiatives and R&D Activities in the Asia-Pacific region. The increasing predominance of cardiac ailments which may involve the application of surgical instruments and the proliferating demand for progressive healthcare services are further fuelling the progress of the 3D Printed Medical Devices Market in the Asia-Pacific region.

3D Printed Medical Devices Market Drivers

Surging Applications Of 3D Printing For Orthopaedic Surgery Are Projected To Drive The Growth Of 3D Printed Medical Devices Market:

Three-dimensional (3D) printing is a more and more evolving technology with the possibility to provide considerable contributions to a surgical practice involving surgical instruments. This is a kind of manufacturing procedure in which materials like plastic or metal are collected in layers to build a 3D object from a digital model. Orthopedics has been among the earliest medical fields to utilize 3D printing. Orthopedic surgeons utilize it in their clinical practice for patient-particular orthopedic uses. 3D printing technology has been reported to be advantageous in patient-particular orthopedics owing to its ability to improve patients’ comprehension of their pathology and preoperative planning and the building of anatomic models for surgical planning, education, and surgical training, patient-particular tools, and 3D-printed custom implants. The enormous count of possibilities provided by this technology in different fields has defined 3D printing as the third industrial revolution. 3D printed models not only minimize the rate of re-operation but play an important role in surgical planning and in the coaching of apprenticed surgeons. The advantages of the application of 3D printed models to orthopedics surgery include describing to patients or students the particulars of surgery or to practice the surgery itself. With 3D printing technology, surgeons can presently analyze patient anatomy in a more concrete manner and permit enhanced, more detailed surgical planning in comparison with the conventional 2-dimensional radiological images. Pre-operations can also be performed on plastic models which can be basic support in the placement of screws or surgical plates, to envision the ultimate result of the interference. The surging applications of 3D Printing For Orthopaedic Surgery are therefore fuelling the growth of the 3D Printed Medical Devices Market during the forecast period 2022-2027.

Proliferating Applications Of 3d Bioprinting Are Expected To Boost The Demand Of 3D Printed Medical Devices Market:

Bioprinters or 3D bioprinters are automatized instruments for the additive fabrication of 3D functional tissues and organs based on the digital models that are built through different scans utilizing biomaterials. These bioprinters perform on distinct mechanisms and are typically utilized for distinct purposes relying on the kind of biomaterials utilized. Tissue engineering is one of the most outstanding uses of 3D bioprinting. It permits the fabrication of complicated tissues and organs that can take the place of failed or lost tissues. Typical examples of tissues that have been bio-printed for different purposes include skin, bone and cartilage, blood vessels, and liver tissue. Drug discovery needs time-consuming and expensive procedures that demand considerable financial investment and workforce. Therefore, the development of a method to enhance the capability to predict the efficiency and toxicity of newly established medications earlier in the drug discovery procedure assists in minimizing the time and money needed. Bioprinting can manufacture 3D tissue models that look like that of native tissue and are capable of high throughput assays. Most typically, liver and tumor tissues are the fundamental focus to building tissue models for pharmaceuticals. The proliferating applications of 3d Bioprinting are driving the growth of the 3D Printed Medical Devices Market during the forecast period 2022-2027.

3D Printed Medical Devices Market Challenges

Challenge Of Sterilizing Polymers Is Hampering The Growth Of The 3D Printed Medical Devices Market:

It is quite concerning that medical materials are required to be sterilized frequently. Certain polymers may conform with the regulation on chemical stability or strength. However, they may collapse too soon with expanded and repetitive exposure to sterilization techniques that utilize heat. For 3D printing procedures that utilize temperature to shape polymers, requiring soaring thermal resistance means greater processing temperatures. This may need a special high-temperature printer, heated bed, and probably an enclosed build space to curb environmental conditions to avert bending and contraction. It is not simply heated that can prove challenging for sterilizing medical materials but also cleaning the housing of an instrument with a disinfectant that can deteriorate polymers over time. Eastman Chemical has been recording polymers in medical devices and has discovered that disinfecting polymers with solvents and additional chemicals is responsible for premature declines. These issues are thus hampering the growth of the 3D Printed Medical Devices Market.

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3D Printed Medical Devices Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and R&D Activities are key strategies adopted by players in the 3D Printed Medical Devices Market. Key companies of this market are:

Stratasys, Ltd.

3D Systems Corporation

EnvisionTEC GmbH

Materialise NV

SLM Solutions

EOS GmbH

Concept Laser GmbH

Renishaw plc

Prodways Group

EOS GmbH

Recent Developments

In October 2021, Stratasys SSYS currently introduced a novel cybersecurity solution for additive manufacturing termed ProtectAM. The most-recent product introduction is principally targeted at offering improved safety while setting up 3D printing solutions by the U.S. government. As per the Security Technical Implementation Guide issued by the Defence Information System Agency (“DISA”) of the U.S. Department of Defence, the U.S. government is needed to utilize cybersecurity platforms to comply with safety codes.

In June 2021, SLM Solutions introduced another game-changing product termed Free Float. The most recent inclusion in the firm's portfolio presently authorizes the establishment of metal constituents with formerly impossible designs and unmatched productivity, minimizing complete material application and reducing the end-part cost to accomplish industrial-scale manufacture. Backing structures have baffled the firm's Chief Engineer, Dieter Schwarze, from the very cognition of the SLM® technology.

In November 2020, Selective Laser Melting pioneer SLM Solutions officially launched its novel SLM® machine NXG XII 600, which is presently accessible for commercial offer. The greatly anticipated machine is outfitted with 12 lasers with 1 KW each and a square build envelope of 600x600x600 mm. NXG XII 600 is the quickest machine on the market, 20 times quicker compared to a single laser machine, and outfitted with innovative technical characteristics like the zoom function to accomplish the greatest productivity and trustworthiness.

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Cancer Testing Screening Market size is projected to reach $220.66 billion by 2027 and is expected to grow at a CAGR of 6.4% during the forecast period 2022-2027. Cancer Testing and Screening are vital procedures for aid in the early detection of cancer before symptoms occur. It lowers the risk of malignant cells growing abnormally and lowers the person's mortality rates. Each type of cancer has a screening test that can help spot cancer early on. There is increasing adoption of cancer screening tests, particularly in countries with the highest cancer rates. The improved research and development activities coupled with the increasing public awareness of cancer diseases are all predicted to create a new window of opportunities in the global cancer Testing screening market. However, COVID-19 has restrained the market growth. The lack of adequate supplies needs for more service providers added to the crises, thereby restraining the market growth.

Cancer Testing Screening Market Report Coverage

The report: “Cancer Testing Screening Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Cancer Testing Screening Market.

By Type: Diagnostics, Screening. By Cancer Type: Respiratory System Cancer, Leukemia, Myeloma and Lymphoma, Skin Cancer, Abdominal/Digestive System Cancer, Genital Cancer, Oral Cancer, Urinary System Cancer, Endocrine System Cancer, Breast Cancer, Others. By Technique: Imaging, Biopsy, Genomic and Molecular Tests (Next Generation Sequencing, RT-PCR, Microarrays, Biomarker Testing, Others. By Product Type: Molecular Diagnostics, Companion Diagnostics. By Stage: Terminal, Stage 0-4, Prognosis, Other Staging System. By Gender: Male, Female. By Geography: Americas (U.S, Canada, Brazil, Rest of Americas), Europe (U.K, Germany, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, and South Korea), and Rest of the World (Middle East, Africa).

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Key Takeaways

Geographically, The Americas Cancer Testing Screening market accounted for the highest revenue share in 2021, followed by Europe. This is owing to the steady rise of Lung and Prostate Cancer cases in both regions which are being driven by the adoption of unhealthy lifestyles such as excessive alcohol consumption and smoking.

The increasing number of cancer cases around the world is unfortunate. However, it is beneficial to the cancer screening industry. The industry is also being propelled forward by Increased research and development (R&D) to develop effective cancer treatments and early detection. Innovative technologies including positron emission mammography, spectroscopy-enhanced colonoscopy, and hyperpolarization MRI, among others, are improving screening efficiency.

Cancer Testing Screening Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Cancer Testing Screening Market report.

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Cancer Testing Screening Market Segment Analysis – By Cancer Type

The Cancer Testing Screening Market based on Cancer Type can be segmented into Respiratory System Cancer, Leukemia, Myeloma, and Lymphoma, Skin Cancer, Abdominal/Digestive System Cancer, Genital Cancer, Oral Cancer, Urinary System Cancer, Endocrine System Cancer, Breast Cancer, and Others. Abdominal/Digestive system cancer had the largest share in the cancer testing screening market in 2021 and is expected to grow at a CAGR of 5.9% owing to the rise in consumption of processed food and alcohol. Additionally, the increase in the global geriatric population has generated demand for imaging devices for early detection and treatment of Abdominal cancer, thereby driving the segment. According to the Organization of the United Nations, the proportion of people aged 65 and up in the global population climbed from 6% in 1990 to 9% in 2019. By 2050, that percentage is expected to climb to 16%, implying that one in every six individuals on the planet is predicted to be 65 or older.

Cancer Testing Screening Market Segment Analysis – By Technique

The Cancer Testing Screening Market based on the Technique can be segmented into Imaging, Biopsy, Genomic and Molecular Tests (Next Generation Sequencing, RT-PCR, Microarrays, Biomarker Testing, and Others. Biopsy technique dominated the Cancer testing screening Market in 2021 and is expected to grow at a CAGR of 6.2%. This is owing to its high accuracy during Cancer Diagnosis. Other Diagnostic advances, such as imaging techniques, have increased demand for cancer testing and screening. Imaging has become an important aspect of cancer detection and diagnosis, with recent advancements in tumor imaging technologies improving the diagnosis of five common cancers, including breast, lung, prostate, and colorectal cancers.

Cancer Testing Screening Market Segment Analysis – By Geography

The Cancer Testing Screening Market based on Geography can be segmented into Americas, Europe, Asia-Pacific, and the Rest of the World. Americas region dominated the cancer screening/testing market in 2021 with a market share of 41% and is growing at a CAGR of 4.5% during the forecast period 2022-2027. This is owing to the high rate of new cancer cases each year along with increased awareness amongst the masses.

However, Asia Pacific is set to be the fastest-growing segment with a CAGR of 11% during the forecast period 2022-2027. This is owing to the growing rate of endocrine, abdominal, leukemia, myeloma, and lymphoma cancers in the Asia Pacific region.

Cancer Testing Screening Market Drivers

Growing Number Of Cancer Screening Awareness Campaigns To Raise Awareness About The Importance Of Early Detection Of Breast Cancer Is To Drive Market Growth

Several governmental and commercial groups are launching various campaigns to raise awareness about the importance of early detection of breast cancer, the second most frequent cancer among women in the United States. Breast Cancer Diagnostics Market Growth Depends on Cancer Awareness Campaigns. Nations around the globe have initiated various Cancer Screening Awareness Campaigns to encourage young people to make these life-saving behaviors part of their daily routine. For example, Breast cancer campaigns, Cervical cancer awareness campaigns, Protect Your Skin campaigns, Ovarian cancer awareness campaigns and Colorectal cancer awareness campaigns are among the few impacting the growth of the cancer screening and diagnostics market. For instance, the 'Be Clear on Cancer campaign has substantially increased the number of referrals under the 2WW rule. This has increased demands on both resources (59% more tests) and finance. Cost per cancer detected rose by 27% with no increase in funding to support the increased activity.

Technological Advancements And Automation In Cancer Testing And Screening Is To Fuel Service Demand

Cancer testing has become more accurate and user-friendly as a result of technological developments and automation, which has aided industry growth. Novel screening technologies have largely been adopted owing to their ability to increase tumor detection rates. Additionally, the cancer testing & screening market is likely to be driven by the approval of novel biomarkers and increased R&D spending. The key players in the market are increasingly investing in AI-based imaging biomarkers. For instance, Brainomix has invested $21.2 million for the development of an AI platform that automates validated imaging biomarkers to improve both diagnosis and treatment decisions to build on the proven success of the company's tech platform in stroke and enable value-generating pharmaceutical partnerships. Proteomics and genomics are two OMICS technologies that will propel the cancer testing & screening industry forward.

Cancer Testing Screening Market Challenges

High Cost Of Cancer Diagnosis And Increased Financial Burden To Hamper The Market Growth

Cancer has a significant financial impact on patients and their families. Today, the estimated 16.1 million cancer patients face annual out-of-pocket medical expenses that are 61% higher than those who do not have cancer. Cancer patients had higher out-of-pocket costs than non-cancer patients, with high-deductible health plans having the greatest out-of-pocket costs. According to a report by the National Coalition of Cancer Survivorship 47% of cancer patients reported financial burden in cancer care.

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Cancer Testing Screening Industry Outlook

Product Launch, Collaboration, and Acquisitions key strategies adopted by players in the Cancer Testing Screening Market. In 2020, the Cancer Testing Screening Market share is consolidated by the top ten players present in the market. In the Cancer Testing Screening Market, the top 10 companies are-

DiaSorin S.p.A

Immunodiagnostic Systems Holdings Ltd

Epigenomics AG

Quest Diagnostics Inc.

F. Hoffmann-La Roche Ltd

VolitionRX Limited

Abbott Laboratories

QIAGEN GmbH

Siemens Healthineers AG

Becton, Dickinson, and Company

Recent Developments

In January 2022, Siemens Healthineers, through its subsidiary Varian entered into a ten-year strategic partnership with Oulu University Hospital in Finland, to build a comprehensive digital, diagnostic and therapeutic ecosystem that addresses the entire cancer treatment pathway. Siemens will supply a technology and services package to Oulu University Hospital that includes cancer imaging and radiation therapy equipment, software solutions for enhanced workflow and decision support, and related support services.

In February 2022, Becton, Dickinson, and Company acquired Cytognos, a company specializing in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection, and immune monitoring research for blood diseases. The acquisition enables BD to enhance chronic illness management by increasing its offering of blood cancer diagnostics, immunological assessment tests, and informatics.

In October 2021, Roche entered into a collaboration with PathAI, a global leader in artificial intelligence (AI)-powered technology for pathology. Under the agreement, the companies are to jointly develop an embedded image analysis workflow for pathologists, which can benefit cancer patients through more precise diagnosis.

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Cancer Biomarkers Market Forecast (2022-2027)

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Cancer Diagnostics Market - Forecast(2022 - 2027)

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Oncology Clinical Trials Market - Forecast(2022 - 2027)

Respiratory Inhaler Device Market size is estimated to reach $46.2 billion by 2026, growing at a CAGR of 6.8% during the forecast period 2021-2026. Respiratory inhaler devices are the devices that are hand-held and portable devices that deliver medication to the respiratory organs. These inhaler devices help in reducing the amount of medication that remains in the throat or on the tongue after breathe. Respiratory inhaler devices are increasingly being adopted across the world owing to their ability to control the intake of medication.

The rise in the demand for dry powder inhalers and soft mist inhalers for asthma treatment, increasing adoption of metered dose inhalers for the treatment of chronic obstructive pulmonary disease (COPD), rise in the demand for combination therapies for respiratory devices, and growing investment by the key players to develop advanced respiratory inhaler devices are the factors that are set to drive the growth of the Respiratory Inhaler Device Market for the period 2021-2026.

Respiratory Inhaler Device Market Report Coverage

The Report : “Respiratory Inhaler Device Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Respiratory Inhaler Device Market.

By Product Type : Metered Dose Inhalers, Dry Powder Inhalers, and Soft Mist Inhalers.

By Application : Asthma and Chronic Obstructive Pulmonary Disease (COPD).

By End User : Hospitals and Clinics, Respiratory Care Centers, and Others.

By Geography : North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa).

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Key Takeaways

Geographically, North America Respiratory Inhaler Device Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of metered dose inhalers for the treatment of asthma.

The rise in awareness about proactive asthma management in children in developed nations is driving the Asthma segment. However, the high cost of respiratory inhaler devices is one of the major factors that is said to reduce the growth of the Respiratory Inhaler Device Market.

Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Respiratory Inhaler Device Market report.

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Respiratory Inhaler Device Market Segment Analysis-By Product Type

The Respiratory Inhaler Device Market based on the Product Type can be further segmented into Metered Dose Inhalers, Dry Powder Inhalers, and Soft Mist Inhalers. The Dry Powder Inhalers segment held the largest share in 2020 owing to the factors such as the rise in the adoption of dry powered inhalers as an alternative to aerosol-based inhalers and the growing demand for dry powered inhalers for the treatment of chronic obstructive pulmonary disease (COPD).

The growing investments by the key players in research and development activities for developing advanced dry powered inhalers is driving the growth of the Respiratory Inhaler Device Market. The Metered Dose Inhalers segment is estimated to be the fastest growing segment with a CAGR of 7.6% over the period 2021-2026. This growth is owing to the factors such as the growing adoption of metered dose inhalers in asthma conditions and the rise in the product launches by key players.

Respiratory Inhaler Device Market Segment Analysis-By Application

The Respiratory Inhaler Device Market based on the Application can be further segmented into Asthma and Chronic Obstructive Pulmonary Disease (COPD). The Asthma segment held the largest share in 2020 owing to the factors such as the increase in the demand for metered dose inhalers and soft mist inhalers for the treatment of asthma and rise in the investment by the key players to develop advanced inhaler devices for asthma treatment.

The rise in awareness about proactive asthma management in children in developed nations is driving the growth of the Respiratory Inhaler Device Market. The Chronic Obstructive Pulmonary Disease (COPD) segment is estimated to be the fastest growing segment with a CAGR of 8.2% over the period 2021-2026. This growth is owing to the factors such as the rise in the adoption of advanced inhalers in hospitals for the treatment of chronic obstructive pulmonary disease (COPD) and increase in the prevalence of chronic respiratory diseases across the world.

Respiratory Inhaler Device Market Segment Analysis-By Geography

North America held the largest share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as the rise in the demand for dry powder inhalers and soft mist inhalers for asthma treatment and the rise in the product launches by key players. The increasing adoption of metered dose inhalers for the treatment of chronic obstructive pulmonary disease is driving the growth of the Respiratory Inhaler Device Market.

Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in the adoption of combination therapies for respiratory devices and growing investment by the key players to develop advanced respiratory inhaler devices.

Respiratory Inhaler Device Market Drivers

Increase in the Adoption of Combination Therapies for AsthmaThe rise in the adoption of combination therapies for asthma has propelled the demand for respiratory inhalers, such as dry powder inhalers and soft mist inhalers owing to their effective results for the patients. The inhaler devices are becoming one of the best options to induce the combination drug, which is one of the major factors driving the growth of the Respiratory Inhaler Device Market.Increasing Demand for Metered Dose InhalersMetered Dose Inhalers are increasingly being adopted for the treatment of asthma and chronic obstructive pulmonary disease (COPD) owing to their ability to deliver the right amount of medication fast. Many governments in developed nations are also supporting the production of advanced inhaler devices owing to their massive demand, which is further propelling the growth of the Respiratory Inhaler Device Market.

Respiratory Inhaler Device Market Challenges

High Cost of Respiratory Inhaler Devices

The key players in the market are collaborating with other players to carry out various research and development activities for launching advanced respiratory inhalers for the treatment of Asthma and Chronic Obstructive Pulmonary Disease (COPD). However, the high cost of respiratory inhalers is one of the major factors that is estimated to reduce the growth of the Respiratory Inhaler Device Market.

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Respiratory Inhaler Device Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Respiratory Inhaler Device Market. Key companies of this market are GlaxoSmithKline PLC, Merck & Co, OMRON Healthcare, AstraZeneca, Teva Pharmaceutical, Novartis, Koninklijke Philips N.V., Boehringer Ingelheim GmbH, Sandoz International GmbH, and Beximco Pharmaceuticals Ltd among others.

Partnerships/Product Launches:

In December 2020, OMRON Healthcare has launched WheezeScan for children with Asthma to accurately detect the presence of wheezing in young children and to remove the uncertainty of potential misdiagnosis.

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Report Code: HCR 0691

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The Virus Filtration Market size is estimated to reach $6.5 billion by 2026 and is poised to grow at a CAGR of 10.8% over the forecast period of 2021-2026. Virus filtration systems generally use a membrane barrier that stops or retains the main viral particle. The polymeric membrane stops the virus on the surface and within the pores of the membrane. Virus filtration has always been considered a robust and effective technology in the biotechnology space, and now its shift is focusing on home-based appliances. The advent of nanofiltration technology has further expanded the scope of viral inactivation. The former has pores ranging between 1-10 nanometers and are just smaller than the primer technologies of microfiltration and ultrafiltration. Chromatography is yet another important aspect of separating the viral particles, as it helps in differentiating the viral particles from the protein and DNA contaminants. Additionally, they use the concept of reversible interaction between the viral capsid and the biological ligand by using the chromatography matrix. The increasing expenditure on R&D activities by multinationals along with the rising cases of chronic and infectious diseases are some of the recognized factors driving the virus filtration industry forward in the projected period of 2021-2026.

Report Coverage

The report : “Virus Filtration Market Forecast (2021-2026)”, by Industry ARC covers an in-depth analysis of the following segments of the Virus Filtration Market.

By Product : Filtration Systems; Kits, Reagents & Consumables, and Services. By Application : Biological, Medical Devices, Water Purification, and Air Purification. By End Users : Pharmaceutical and Biotechnology, Contract Research Organization, Academia and Research, Research Laboratories, and Others. By Geography : North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America.

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Key Takeaways

Geographically, North America’s virus filtration market held a dominant market share in the year 2020. It is owing to the presence of robust medical infrastructure companies and the budgetary allocation to control virus leakages and maintain standard bio-hazard standards. However, Asia-Pacific is set to grow at a lucrative pace owing to the recent developments in the field of research and multinationals setting up CROs in different regions to save costs.

The increase in the expenditure pertaining to the development of robust vaccines, along with the adoption of single-use technologies have acted as a driver for the market. However, stringent regulations levied by the regulatory authorities are a grave market challenge.

A detailed analysis of the strengths, weaknesses, opportunities, and threats will be provided in the Virus Filtration Market report.

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Virus Filtration Market Segmentation Analysis - By Product

The virus filtration market based on the product can be further segmented into Filtration Systems; Kits, Reagents, & Consumables, and Services. The Kits, Reagents & consumables segment held a dominant market share in the year 2020. It is owing to their increased usage in virus filtration. Moreover, the focus in the last year was predominantly focused on making vaccines and therapeutics owing to the advent of Covid-19. The vaccines developed heavily rely on the antigens of the main virus, which in turn allows the body to allow protection. Hence, it is involved in the upstream processes as well. It depends on the type of substrate, quality criteria, control strategy yield, and technology options available. Egg-based vaccines, viral vector vaccines, and DNA vaccines all follow the process of virus filtration. For example, companies like Pfizer received $1.95 billion from the US government in the year 2020 to develop and research a vaccine for Covid-19, steps such as these are propelling the growth.

However, the filtration systems segment is estimated to be the fastest-growing, with a CAGR of 11.4% over the forecast period of 2021-2026. It is owing to the advent of personalized medicines that cure specific ailments such as cancer. Cancer is now regarded as the second most common reason for death globally. Additionally, people are opting for medications and therapeutics which now have propelled the marketers to follow the filtration systems as it helps in achieving economies of scale and does not hinder the quality of the product.

Virus Filtration Market Segmentation Analysis - By End Users

The virus filtration market based on the end-users can be further segmented into Pharmaceutical and Biotechnology, Contract Research Organization, Academia &Research, Research Laboratories, and others. The pharmaceutical and biotechnology segment held a dominant market share in the year 2020. It is owing to the ready budgetary allocation for developing new drugs and medicines, which has resulted in increased R&D spending. As per reports, in 2019, the pharmaceutical industry spent $83 billion on R&D, which is ten times more than what was spent in 1980, which overtly reflects in the spending the virus filtration market.

However, contract research organizations are estimated to be the fastest-growing, with a CAGR of 11.7% over the forecast period of 2021-2026. It is owing to various factors such as, and it helps the big pharmaceutical companies to reduce the total expenditure. As the burden for hiring new research staff and investing in house R&D can mitigate huge amounts of profits. The companies are now trying to achieve low risk-high profit module by transferring works such as immunogenicity, biomarkers, and pharmacokinetics practices to CROs. Additionally, they can handle increasingly complex drugs and clinical trials and overtly reduce the time to market.

Virus Filtration Market Segmentation Analysis - By Geography

The virus filtration market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America’s virus filtration market held a dominant market size of 36% as compared to the other regions. It is owing to the predominant position of the region, especially the US to follow automation in healthcare processes. Additionally, the filtration systems automation has allowed the various ancillaries to support its growth, as the following region has some renowned players. Lastly, the region’s focus from the last year has been to create robust infrastructure, which will not allow any new outbreaks, that have the potential to create a new pandemic.

The Asia Pacific offers lucrative growth opportunities to marketers in the projected period of 2021-2026. It is owing to the rising FDI from the biotechnology companies in the regions such as India and China. The countries offer economies of scale and the favorable trade policies are further propelling the virus filtration market to grow at a substantial pace. Additionally, owing to the rising pollutants in the majority of the countries in this region, air purification has been a trending topic and area of innovation that has allowed for the growth of virus filtration.

Virus Filtration Market Drivers

Virus Filters add a key line of defense against potential pathogens which is driving the market growth

The virus retentive filters are extensively used by the manufacturers in the process streams. More so, the biotechnology and pharmaceutical companies use the following filter or the process to avoid the introduction of certain pathogens in the important and niche classes of medicines. Specialty high-flow virus filters are now available against the traditional filters, which allows stopping the viruses via the media supplements into the cell cultures. Moreover, after the advent of coronavirus, the companies in the sector modulated their technologies to catch the following pathogen. The coronavirus particle typically ranges from 100-160 nanometres, and even the small droplets of the Sars virus can be potentially stopped from entering the cell cultures with the use of technology such as DFF. Lastly, HEPA filters are now overtly used across industries owing to the potential to filter out disease-causing viruses.

An increase in the cases of chronic illnesses across the globe has propelled the marketers to develop advanced class drugs which have allowed the use of virus filtration as the base technology

It is evident that the global disease burden in terms of chronic illness has been increasing. As per WHO, one in every six deaths worldwide is caused due to cancer. Moreover, diabetes prevalence has quadrupled in the last four decades, and the numbers globally are close to 550 million. Additionally, chronic illnesses don’t come alone but bring along various other ailments such as kidney failure, eye-ailments, and lastly heart attacks. The major drug manufacturer globally is readily researching possible drugs and vaccines which could prevent the disease, or help in reducing the severity of the disease. The advent of new drugs requires the manufacturers to follow virus filtration techniques in the downstream processes, which are now allowing for the growth of the market.

Virus Filtration Market Challenges

The continuous processing within the virus filter might not perform as per expectation and can lead to failed batches of products, which is hindering the market growth

The virus filtration is a crucial downstream process, additionally, virus filtration can be in terms of batch filtration and continuous flow filtration. In cases of the continuous virus filtration process, the batch systems are closed and more complex, hence the variability in the protein concentration, the irregularity of pH values, and conductivity pose a challenge to the virus filter. Moreover, the filters are also challenged when the minimum titer was 106 pfu/ml. Additionally, companies need to spend extra amounts of money to run parallel filtration which will allow in-line testing during the continuous phase of batch filtration.

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Virus Filtration Market Competitive Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Virus Filtration Market. The top 10- Virus Filtration Market companies include:

Merck KgaA

Thermo Fisher Scientific Inc

Charles River Laboratories International Inc

GE Healthcare,

Lonza Group Ltd

Wuxi Pharma Tech

Danaher Corporation

Asahi Kasei Medical Co. Ltd

Pall Corporation.

Sartorius

Recent Developments

In August 2021, Honeywell announced their “drop-in” coronavirus filter. The following would be in a form of coating which will be capable of clearing out 97% of the Sars-Cov-19 virus. Moreover, the product launch is especially for the schools and government offices that have heating and cooling operations in place and don’t wish to spend heavily on denser filtration.

In February 2021, Estonian UV tech has released the first virus-killing air purifier. The device is worn around the neck which has the power to filter 99% of viruses and bacteria. The device has shown protection against E.Coli 99.88% protection and also against Alphavirus, which it claims to stop 99.44%. The process goes through the internal filter and a germicidal UV-C light, then it is ventilated to the user.

Relevant Titles

Consumer Water and Air Treatment Market- Forecast (2021-2026) Report Code- FBR 0075

Membrane Filtration Market- Forecast (2021-2026) Report Code- CMR 1376

The Interspinous Spacers Market size is forecast to reach $117.4 million by 2027 and is expected to grow at a CAGR of 4.9% during the forecast period 2022-2027. Interspinous spacers, also knowns as Interspinous Process Decompression systems (IPD), are small implant devices that are inserted into the back of a spine for the treatment of Spinal ailments such as Spinal Canal Stenosis and Degenerative Disc Diseases. The Spacers create more space for the spinal cord and nerves in the spinal columns without the removal of any bone. This in turn minimizes trauma to the muscles and ligaments. The Interspinous Spacers Market has been driven by advances made in the field of minimal invasive surgeries. Moreover, the increasing number of geriatric populations worldwide has led to rising cases of spinal diseases such as Arthritis, which has further pushed the demand for Interspinous Spacers.

Interspinous Spacers Market Report Coverage

The report: “Interspinous Spacers Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Interspinous Spacers Market.

By Product Type: Static Spacers (Non-Compressible), Dynamic Spacers (Compressible)By Application: Degenerative Disk Disease, Spinal Canal Stenosis, Others

By End User: Hospitals & Clinics, Ambulatory Surgical Centers, Orthopedic Clinics and Others

By Geography: North America (U.S, Canada, Mexico, Rest of North America), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Europe (U.K, Germany, Italy France, Spain, Netherlands, Russia, Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, South Korea, Rest of Asia Pacific), Rest of the World (Middle East and Africa)

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Key Takeaways

Geographically, The North American Interspinous Spacers market accounted for the highest revenue share in 2021. This is owing to the rapid approval of Interspinous Spacer products by the U.S. Food and Drug Administration as well as the rising instances of spinal osteoarthritis in the region.

The Interspinous Spacer Procedure is a minimally invasive surgical procedure that involves the implantation of a titanium spacer through a tube, via a small incision. The rising inclination of the masses towards minimally invasive and non-invasive surgery has therefore driven the Interspinous Spacers Market.

Interspinous Spacers Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Interspinous Spacers Market report.

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Interspinous Spacers Market Segment Analysis – By Product Type

The Interspinous Spacers Market based on Product type can be segmented into Static Spacers and Dynamic Spacers. The Static Spacers segment has the largest share in the Interspinous Spacers Market in 2021 growing at a CAGR of 6.2% during the forecast period 2022-2027, owing to their cost-effectiveness. Additionally, Static Spacers are preferred over Dynamic spacers for Laminectomy in patients suffering from lumbar spinal stenosis. The demand for Laminectomy has been increasing worldwide, owing to the rising prevalence of neck pain among the geriatric population.

However, Dynamic Spacers is the fastest-growing segment and will witness the highest CAGR during the forecast period 2022-2027. This is owing to the increased demand for Dynamic Spacers in the treatment of people suffering from neurogenic intermittent claudication. Dynamic Spacers are also the preferred means of treatment for lumbar stenosis from the L1 to L5 vertebrae in skeletally mature patients.

Interspinous Spacers Market Segment Analysis – By Application

The Interspinous Spacers Market based on Application can be segmented into Degenerative Disk Disease, Spinal Canal Stenosis, and Others. Spinal Canal Stenosis had the largest share in the Interspinous Spacers Market in 2021, growing at a CAGR of 5.7%. This is owing to the rising cases of Spinal stenosis led by an increasing percentage of the geriatric population worldwide. Studies by the Late W H Kirkaldy-Willis, a pioneer in modern spine care, show that the disease is becoming increasingly preoccupant amongst people who cross the 50-year mark.

However, Degenerative Disk Disease is the fastest-growing segment during the forecast period of 2022-2027. Degenerative Disk Disease caused due to natural age-related wear-and-tear and is almost certainly amongst the geriatric population. A study by the National Institutes of Health (NIH) shows that 40% of people aged 40 years and above have the disease while over 75% of patients are prone to it by the age of 80. An increasing population of elderly people is thus driving the segment.

Interspinous Spacers Market Segment Analysis – By Geography

The Global Demand for Vein Finders Market based on Geography can be segmented into North America, South America, Europe, Asia-Pacific, and Rest of the World. The North American region dominated the Interspinous Spacers market in 2021 with a market share of 39%. This is owing to the rising instances of lumbar spinal stenosis in the region, which has been attributed to lifestyle changes. Moreover, the region is set to witness an increase in the geriatric population. A study by the U.S. Department of Health and Human Services shows that the percentage of the population over the age of 65 will have a share of almost 22% within 2040. Further, Senior Citizens will make up almost 25% of Canada’s population by 2030, as per the Government of Canada.

However, Asia Pacific is the fastest-growing segment during the forecast period of 2022-2027 owing to the increasing case of Degenerative Lumbar Spine Disease in the region. As per the NIH, Asia Pacific records more than 200 million cases of the disease every year. Moreover, Asia has slowly become the hotspot of Minimally Invasive Surgery due to the advances and investments made in the healthcare sector. This is driving the growth of the Interspinous Spacers Market in the region.

Interspinous Spacers Market Drivers

Interspinous Spacers occupy the market share of primitive treatment methods due to minimally invasive methodologyThe use of minimally invasive interspinous process devices (IPD), such as interspinous distraction devices (IDD) and interspinous stabilizers (ISS), and interspinous spacers, to treat symptomatic lumbar canal stenosis (LCS) is becoming more common. The Interspinous Spacer Procedure involves a minimally invasive titanium spacer, which is implanted through a tube inserted by a small incision in the lower back, and the patient is only required to be given local anesthesia for treatment. On the contrary, formal non-surgical therapies and decompressed surgery often led to fatal repercussions post-treatment or after surgery. A study by NIH shows that only 60% of the people felt improvement, while only 30% felt improvement in opting for non-surgical therapies. The complications post-surgery was seen in diseases such as postoperative hematoma formation, neurological disabilities, and problems with wound healing. The advent of interspinous spacers has helped ease these issues with minimally invasive surgeries and has thereby garnered significant demand.

Growing percentage of the geriatric population will push the Interspinous Spacers Market forwardInterspinous Spacers are regularly utilized on people with long-term health problems like diabetes, obesity, and lung disorders. The geriatric population has been expanding in almost all regions, including ten countries that will be classified as "aging countries" rather than the previous eight. Similarly, by 2050, 11 countries will be super-aged, compared to only one in 2020. Growing old will supplant concerns like cardiovascular disease, and such individuals would be unable to have voluntary surgical procedures. In situations like these, Interspinous Spacers can help, and the chance of death after surgery can be reduced by as much as 10%, which is much lower than conventional therapeutic methods.

Interspinous Spacers Market Challenges

Complications associated with IPD devices may hamper market growthInterspinous or interlaminar spacers, in contrast to laminectomy, change the spinous processes from naturally tension-bearing structures to compression-loading structures. This can result in Spinous process fractures, an uncommon but well-known consequence of IPD implantation. According to a study published in the Journal of Spine Surgery (JSS), there is an 80% chance of heterotopic bone development at 24–57 months following an IPD implantation. Device dislocation and malposition, spinous process erosion, infection, hemorrhage, and neurological sequelae are among the other consequences of IPD implantation. This could stifle the market for interspinous spacers.

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Interspinous Spacers Industry Outlook

Product Launch and Acquisitions were the key strategies adopted by players in the Interspinous Spacers Market. In 2022, the Interspinous Spacers Market share is consolidated by the top ten players present in the market. Interspinous Spacers top 10 companies include:

Globus Medical Inc.

NuVasive Inc.

Life Spine Inc.

Paradigm Spine

Medtronic

Boston Scientific

Zimmer Biomet

Mikai S.p.A,

Synthes GmbH

Alphatec Spine, Inc.

Recent Developments

In November 2020, NuVasive Inc. launched their new C360™ cervical spinal products, which also included the commercial launch of the Anterior Cervical Plating (ACP) system, featuring the thinnest plate on the market at 1.6 mm.

In May 2019, Globus Medical Inc., launched AERIAL, a minimally invasive expandable interspinous fixation system with independent locking plates. The product will cater to patients undergoing spinal fusion and in need of an additional degree of stability.

In May 2019, Boston Scientific acquired Veriflex. The acquisition was made in order to gain control of the pain management product portfolio.

Relevant Titles:

Lumbar Spine Fusion Market – Forecast (2022 - 2027)

Report Code: HCR 25346

Minimally Invasive Spine Surgery Market - Forecast(2022 - 2027)

Report Code: HCR 43262

Spinal Implants And Surgical Devices Market – Forecast (2022 - 2027)

Report Code: HCR 81708

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Cannabidiol Market size is estimated to reach $93.4 billion by 2027, growing at a CAGR of 21.3% during the forecast period 2022-2027. Cannabidiol can be delineated as an active compound or phytocannabinoid derived from the flower and leaves of the cannabis Sativa plant. The cultivations of marijuana plants occur across the globe for medicinal purposes. Cannabidiol holds wide-ranging applications in the food and beverage industry, nutraceutical production, and treatment of several medical conditions such as neurogenerative disorder, diabetes, insomnia, stress, bone abnormalities, and many others. In addition to that, cannabidiol can help drug addicts to lower their cravings. As compared to hemp seeds oil which is fabricated from seeds only, CBD is a safer and more appropriate option. Also, Cannabidiol comes in a diversity of forms which include capsules, liquid, aerosol sprays. The cannabidiol market outlook is fairly fascinating as the demand for the product is enlarging year after year. Likewise, proliferating research and developmental activities, expanding drug distribution channel’s network, augmenting attentiveness among people regarding health benefits of cannabidiol, and heightening incidences of cancer, diabetes, neurological complications, stress, and bone abnormalities are factors set to drive the growth of the Cannabidiol Market for the period 2022-2027.

Report Coverage

The Report : “Cannabidiol Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Cannabidiol Market.

By Product Type : Full-Spectrum CBD oil, Broad-Spectrum Oil, and CBD isolate.By Form : Capsule, Sprays, and Pure Liquid (Oil and Tinctures).

By Source : Hemp and Marijuana.By Application : Medical treatments (Insomnia, Diabetes, Cancer, Neurological problems, Bone abnormalities, Migraine, and Others), Food and beverages, Nutraceutical, Personal care products, and Others.

By Distribution Channel : Offline (Retail Pharmacies, Hospital Pharmacies, and Others) and online.

By Geography : North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

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Key Takeaways

Geographically, the North America Cannabidiol Market accounted for the highest revenue share in 2021. The growth is owing to high health cognizance among residents compared to other parts of the world, lenient government policies regarding cannabis production for medical purposes, and the full-fledged pharmaceutical industry. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.

Augmenting chronic applications and growing adoption of cannabidiol as health awareness among people is ascending and these factors said to be preeminent drivers driving the growth of the Cannabidiol Market. Crippled production and processing activities owing to pandemic restrictions and the exorbitant cost of cannabidiol are said to reduce the market growth.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Cannabidiol Market report.

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Cannabidiol Market Segment Analysis-By Application

The Cannabidiol Market based on the applications can be further segmented into medical treatments (insomnia, diabetes, cancer, neurological problems, bone abnormalities, migraine, and others), food and beverages, nutraceutical, personal care products, and others. The medical treatments segment held the largest share in 2021. The growth is owing to ascending production of cannabidiol capsules, oils, and sprays as the demand for the product is sky-rocketing. Similarly, the medical treatments and nutraceutical segment is estimated to be the fastest-growing with a CAGR of 22.5% over the forecast period 2022-2027. This growth is owing to rising incidences of health problems like neurogenerative disorders, diabetes, cancer, joint dysfunctions, and many more. Sedentary habits, poor ingestions, and spiraling old-age population are the factors behind the unprecedented surge of such complications. In addition to that, a rising number of prevention-oriented individuals are making more demand for nutraceuticals to ensure proper nutrition intake. As a result, the demand for CBD in the said segments is escalating.

Cannabidiol Market Segment Analysis-By Distribution Channel

The Cannabidiol Market based on distribution channels can be further segmented into offline (Retail pharmacies, hospital pharmacies, and others) and online. The offline segment held the largest share in 2021. The growth is owing to the across-the-board presence of retail pharmacies and hospitals. Institutions like hospitals are so well equipped that they offer a one-stop solution to patients; whereas, retail pharmacies offer convenient solutions to both chronic and acute problems as generally no prior prescription from a medical practitioner is required while making a purchase. Derisory infrastructure in squalid areas makes it hard for online pharmacies to offer their services; therefore, buying from offline platforms is the only option that people have. Furthermore, the offline segment is estimated to be the fastest-growing with a CAGR of 22.8% over the forecast period 2022-2027. Unlike, online platforms, in retail or hospital pharmacies it is easy to explain health problems to doctors or pharmacists. On another hand, buying from online pharmacies may be easy but it requires proper understanding about “what type of medicine you are looking for? whereas, in an offline purchase, if the patient might give a little clue, the medical practitioner suggests the best possible solution according to their knowledge, which is comparatively easy.

Cannabidiol Market Segment Analysis-By Geography

The Cannabidiol Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 40% of the overall market in 2021. The growth in this segment is owing to the factors such as heavy investment in research and development activities compared to any other continent on planet earth. Besides, high health cognizance among people, presence of world-class healthcare infrastructure, leading pharmaceutical companies, and high disposable income of people which allows them to pay a high price for cannabidiol are the factors providing growth opportunities. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to rising chronic pain incidences as the geriatric population in Japan and China is augmenting steadily. Besides, sky-rocketing pharmaceutical industry as India is a leading generic drug manufacturer whereas China is the leading API manufacturer in the world.

Cannabidiol Market Drivers

Proliferating chronic conditions are anticipated to boost market demand.

Intensifying chronic stress prevalence has heightened the occurrence of various neurodegenerative disorders such as Parkinson’s and Alzheimer’s in both developing and developed countries. A WHO report claimed that over 55 million people across the globe were living with dementia last year. Moreover, according to a report by Alzheimer’s Association, in 2021 more than 6 million American geriatrics were inflicted with dementia. Cancer is the 2nd biggest reason behind deaths on planet earth; whereas, from 10.5 percent in 2021, it is anticipated that around 12-13 percent of the world population will suffer from diabetes by 2045.

Rising demand for Cannabidiol from cosmetics is expected to boost market demand.

The expanding demand for cannabis-based cosmetic products as people especially youngsters is becoming more look-oriented. Today body dysmorphic disorder is one of the biggest reasons behind growing stress and anxiety among teenagers. According to a WHO report, around 1 in 7 adolescents aged above 10 years have mental problems because of stress and depression. The growing obsession of youngsters regarding their looks is indeed a blessing in disguise for the growth of the aforementioned market as it is augmenting the demand for personal care products.

Cannabidiol Market Challenges

Extortionate price and hampered production because of the COVID-19 are Anticipated to hamper the market growth.

The price of cannabidiol is a bit on the dear side as just one gram of it can up to $60. Therefore, the expensive nature of the product can pose a challenge to the growth of the aforementioned market. Moreover, the production and processing activities have taken a huge hit after a year-long lockdown. Also, with growing mutations in virus structure, governments worldwide are reconsidering certain constraints to control the virus spread which can lead to a big mismatch between demand and supply chain.

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Cannabidiol Market Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Cannabidiol market top 10 companies include:

Elixinol LLC

NuLeaf Naturals

ENDOCA

Cannoid LLC

Medical Marijuana

Folium Biosciences

Isodiol International

Arena International

VIVO Cannabis

Dixie Brands

Recent Developments

On December 21, 2021, New York, United States-based multinational pharma and biopharmaceutical company “Pfizer” announced that the company will soon acquire California, United States-based Arena Pharmaceutical (a company known for its cannabis-based therapeutics). Pfizer agreed to pay $6.7 billion ($100 per share) to bring the acquisition to a close. The transaction will enhance Pfizer’s expertise in the cannabis-based treatment of bowel disease.

On November 29, 2021, Alberta, Canada-based cannabis company “High Tide” announced that it has acquired Colorado, United States-based well-known cannabis firm “NuLeaf Naturals.” A payment of $31 million was paid by High Tide to buy 80 percent of the ownership interest. The transaction has further strengthened the retail business of High Tide.

On March 18, 2021, Australia-based cannabis company Elixinol (a firm known for its CBD hemp oil) announced the successful acquisition of Hamburg, Germany-based vitamin and supplement company “CannaCare Health.” Payment of a total of 9 million euros (3 million cash and 6 million shares) was made by Elixinol to bring the acquisition to a close.

Relevant Links:

Alzheimer Drugs Market – Forecast (2022 - 2027)

Report Code: HCR 0112

Hemp CBD Market – Forecast (2022 - 2027)

Report Code: HCR 1418

Industrial Hemp Market-Forecast (2021 – 2026)

Report Code: CMR 45256

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The Jackfruit Market size is estimated to reach $359.1 million by 2026, growing at a CAGR of 3.3% during the forecast period 2021-2026. Jackfruit, also known by its scientific name Artocarpus heterophyllus, is a tree fruit that grows in tropical regions of South Asia, Southeast Asia, Africa, Brazil, and the Caribbean. The inflorescences are formed on the trunk, branches, or twigs of the tree, and the ovaries of these flowers fuse together to develop the fruit. Ripe Jackfruits are naturally sweet and, therefore, used in a variety of dishes. Moreover, jackfruits are also used as a strong aromatic substance owing to the presence of compounds such as ethyl isovalerate and propyl isovalerate. The market is driven by the rise in the use of Jackfruit flavored food dishes by manufacturers. However, the high perishability and low shelf-life of jackfruits is a significant challenge to the Jackfruit Industry.

Report Coverage

The report : “Jackfruit Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Jackfruit Market.

By Type :

Golden Nugget, Cheena, Golden Pillow, Tabouey, Black Gold, Cochin, and Others.

By Nature :

Organic and Conventional.

By Application :

Fresh Consumption, Beverages, Confectionery, Aroma, and Others.

By Distribution Channel :

Online Retail, Retail Stores, Supermarkets, Food & Drink Specialty Stores.

By Geography : 

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (the Middle East and Africa).

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Key Takeaways

Geographically, the Asia Pacific region accounted for the highest revenue share in 2020. It is poised to dominate the Jackfruit market over the period 2021-2026 owing to the high popularity of the fruit in the region and the presence of a favorable climate for its cultivation.

An increase in awareness of the health benefits provided by jackfruits such as cardiovascular health, immunity boost, and anti-inflammatory properties are driving the market. However, the dearth of adequate storage facilities for these perishable fruits act as a significant challenge to the Jackfruit market.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Jackfruit Market report.

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Jackfruit Segment Analysis-By Application

The Jackfruit Market based on the Application can be further segmented into Fresh Consumption, Beverages, Confectionery, Aroma, and Others. The Fresh Consumption segment accounted for the largest share of the market in 2020 and is predicted to continue being the largest segment over the forecast period 2021-2026. This is attributed to the fact that ripe jackfruits have a sweet flavor similar to bananas or pineapples. Moreover, the jackfruit seeds are edible once cooked and are consumed as snacks or used as an ingredient in curry. The Confectionary segment is anticipated to register the highest growth during the forecast period with a CAGR of 3.5% owing to the increase in the development of jackfruit flavored products such as candies, jellies, cakes, and so on. The Aroma segment is also anticipated to exhibit growth during the forecast period. Ripe jackfruits emit a strong aroma owing to the presence of volatile compounds such as ethyl isovalerate, propyl isovalerate, isobutyl isovalerate, and butyl isovalerate. The roasted jackfruit seeds are used as a commercial alternative for chocolate aroma.

Jackfruit Market Segment Analysis-By Distribution Channel

On the basis of Distribution, the Jackfruit market is segmented into Online Retail, Retail Stores, Supermarkets, and Food & Drink Specialty Stores. The Supermarket segment accounted for the largest share of the market in 2020 owing to their rapid expansion in major developing regions and their high penetration in developed countries. The large size of Supermarkets allows them to house a wide variety of jackfruit products which is not possible for specialty stores. Moreover, they have temperature-controlled shelves to ensure the jackfruit products remain fresh for a longer duration. The E-commerce segment is predicted to be the fastest growing during the forecast period with a CAGR of 3.8% owing to the increase in the use of smartphones and rise in awareness regarding online shopping. Moreover, the Covid-19 pandemic and the resulting restrictions placed on traveling and shopping have further boosted the growth of E-commerce sites. The growth in internet connectivity in major developing nations is another reason for the surge in online shopping. For instance, the internet penetration rate in India increased from 18% in 2014 to 50% in 2020.

Jackfruit Market Segment Analysis-By Geography

The Jackfruit Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The Asia Pacific was the largest segment in 2020 with 37% of the Jackfruit market share and is predicted to remain as the dominant segment during the forecast period 2021-2026. The growth in this segment is owing to the high investment by private companies in the development of new and innovative jackfruit products. Moreover, the policies implemented by the governments of the region in order to increase production and supply of the fruit have also aided in boosting demand. The North American segment is projected to register the highest growth during the forecast period owing to the increase in awareness regarding the fruit’s nutritional benefits.

Jackfruit Market Drivers

Increase in the Involvement of Food Manufacturers is Projected to Drive Market Growth.

The development of multiple jackfruit-flavored food products by major companies coupled with the high awareness of the fruit’s nutritional and immunity-boosting properties is anticipated to drive the market during the forecast period. Jackfruits are rich in vitamin C, Vitamin B, fibers, and antioxidants such as carotenoids. These nutrients provide various health benefits, such as lowering the risks of high blood pressure, diabetes, ulcers, and constipation. Furthermore, the presence of phytonutrients in jackfruit may prevent the growth of cancerous cells in the body. These health benefits have increased the popularity of food and beverage products containing jackfruit. The launch of jackfruit flavored dishes such as jams, squash and jellies by major companies is resulting in deeper market penetration by attracting younger customers to jackfruit products.

Rise in the Use of Jackfruits as Vegan Meat Substitute is Projected to Boost Demand.

The unique texture of jackfruit has led to its increased use as a vegan meat substitute which will drive the market during the forecast period. The fruit is heated, distilled and dried to create vegan fish dishes, nuggets, and other meaty textures. The growth will be drastically high in countries such as India and the US owing to the high prevalence of vegetarian or vegan diets. Around 23% to 38% of the population in India and 4% of men and 7% women in the US identify as vegetarian. Furthermore, jackfruit has become a popular choice for vegan pizza toppings, especially in Europe and North America. For instance, Jackfruit topped vegan pizza is served by the Italian restaurant chain Zizzi and the American pizza restaurant franchise Papa John’s.  

Jackfruit Market Challenges                            

Low Shelf-Life is Anticipated to Hamper Market Growth.

The compositional and textural characteristics of jackfruit make them highly perishable. Cut jackfruits will only last around 3 days in unrefrigerated conditions while they will last up to 1 week under refrigerated conditions. This is a major challenge for the storage and transportation of fresh jackfruit products for consumption or processing. Moreover, the majority of the jackfruits are cultivated in developing regions of South Africa, South East Asia, and South America. The availability of large-scale refrigerated storage facilities is usually not available for the farmers, and therefore, the shelf-life is greatly reduced. Moreover, the low shelf-life limits market growth as it may be difficult to export the product from Asia Pacific to distant regions such as Europe and North America. The use of chemical substances to increase shelf-life is anticipated to further decrease jackfruit demand owing to the increase in health consciousness and demand for organic food products.  

Covid-19 related restrictions can curb the growth in demand for jackfruits

The restrictions imposed by the governments of the major jackfruit manufacturing countries such as India have caused difficulties for growers in finding workers to pluck the fruits from trees, causing significant financial damage for the farmers. This has had a drastic impact on jackfruit production, which is anticipated to cause shortages and price hikes of jackfruit products. This issue is further worsened by transportation restrictions and the closure of wholesale markets. As visits to supermarkets and specialty stores declined owing to the pandemic, the consumption of jackfruit products also reduced. The food manufacturing companies that use jackfruit as a key ingredient also face difficulties owing to the limitations imposed on the number of workers allowed in the plant which is restricting production capacity. Therefore, the reduction in both supply and demand of jackfruit products is anticipated to hamper growth opportunities during the forecast period.

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Jackfruit Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Jackfruit Market. The top 10 companies of this market include

Anna Food Product

Artocarpus Foods Pvt. Ltd.

Frubites

Island Valley Delights

Jackfruit365

Madam Sun

Mother Dairy Fruit Vegetable Pvt. Ltd

Natureloc

Nutty Yogi

The Jackfruit Company

Partnerships/Product Launches:

In July 2020, Mother Dairy Fruit Vegetable Pvt. Ltd., announced its product expansion into the bakery and confectionery business with the launch of three varieties of bread in Delhi NCR.

In February 2019, The Jackfruit Company announced the launch of the new Complete Jackfruit Meals. The single-serving meals come in four, globally inspired flavors.

Relevant Links:

Fruit And Vegetable Ingredients Market - Forecast (2021 - 2026) Report Code: FBR 0095

Jam, Jelly, And Preserves Market - Forecast (2021 – 2026) Report Code: FBR 31746

Caprylhdroxamic Acid Market size is forecast to reach $37.2 million by 2025 after growing at a CAGR of 6% during 2020-2025. Caprylhdroxamic Acid is derived from coconut oil and is used in anhydrous and surfactant systems as well as emulsions. The growth of the market of caprylhdroxamic acid is expected to be driven by the high demand from the cosmetic industry. The other growth factor is pharmaceutical industry which is using caprylhdroxamic acid as antibacterial, which protects from bacterial diseases.

Report Coverage

The report :

“Caprylhydroxamic Acid Market-Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of caprylhdroxamic acid Industry.

By Application : 

Preservatives (Non-toxic Presevatives, Moderately Preservatives), Skin Care (Antibacterial, Creams, Lotions, Protections, Antifungal, Others), Hair Care (Shampoos, Conditioners, Shower Gels, Others), and Others.

By End Use : Personal Care and Cosmetics (Natural Product, Herbal Product, Organic Product, Others), Pharmaceuticals, and Others.

By Geography : North America, South America, Europe, APAC, and RoW.

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Key Takeaways

Asia-Pacific dominates the caprylhdroxamic acid Market owing to increasing demand from Pharmaceutical sector.

Rise in the coconut production drive the extraction/production of the caprylhydroxamic acid.

The high cost of production and high price of raw materials are the major restraint for the growth of the global caprylhdroxamic acid market.

By Application - Segment Analysis

Preservatives segment has been the primary market for caprylhdroxamic acid in 2019. Caprylhdroxamic Acid used as a preservative that ensures product safety and longevity. The global preservatives market size was valued at USD 2.5 billion in 2019 among them, meat and poultry accounted for the largest market share of 34.8%. Preservatives are especially difficult to formulate because they have to be strong enough to kill bacteria, but they also can't impact the effectiveness of other ingredients. These are used for preserving snacks, confectionaries, bakery products, and dairy, meat, poultry products and in cosmetic. Demand for these products is increasing globally owing to various factors such as change in customer lifestyle, surge in imports and exports, increasing preference for fresh products, accompanied by rise in consumer willingness to pay for premium price. The growing beverage industry is majorly uplifting the consumption of preservatives which is most likely to deriving the market growth.

The properties of drinks such as high water activity demand the irreplaceable use of preservatives in the beverage industry is to avoid the change in taste, the color, and bitter aftertaste. Moreover, with the rise in demand for functional beverages, the market for natural preservatives is gaining momentum. Manufacturers are embracing innovation for gaining position in the market by incorporating the organically sourced preservatives in the product formulation. Antifungal products is the second major market for the caprylhdroxamic acid. Growing prevalence of fungal infections such as aspergillus’s and candidiasis is one of the key factors propelling the market. Fungal infections encompass both systemic and superficial infections including infection of the skin, eye, mouth, and vagina. Antifungal products with fungicidal activity are mostly used to treat a wide array of diseases, such as athlete's foot, ringworm, and fungal meningitis, caused by fungal agents. Moreover, mounting cases of patients suffering from hospital-acquired or nosocomial infections and infectious diseases are deriving the growth of the market of caprylhdroxamic acid during the forecast period.

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By End use - Segment Analysis

Personal care and Cosmetic sector has been the primary market for caprylhdroxamic acid in 2019 growing at CAGR of 9%. Skincare, hair care, make-up, perfumes, toiletries and deodorants, and oral cosmetics are the main product categories of the personal care and cosmetic   industry. Skincare was the leading category, accounting for about 39 percent of the global market. Hair care products made up a further 21 percent, while make-up accounted for 19 percent in 2018. A shift of preference towards natural and organic beauty products, particularly in U.S. and European countries, derive the growth of the personal care and cosmetic market. Rising demand for natural, herbal and organic beauty products creates potential opportunities for manufacturers to innovate and develop new products in accordance to consumer preferences. Improvement in the current lifestyles of the individuals is majorly affecting the personal care and cosmetic market. Consumers have now become more conscious regarding the usage of cosmetics in their daily life in an effort to step up their style quotient and overall personality. This growing demand of personal care and cosmetic products has in turn led to the growth of caprylhydroxamic market across the world. According to World Bank by 2020, personal care and cosmetic industry worth to be USD 640.0 billion. Some of the larger emerging markets such as China, India, Russia, Brazil and UK driving growth, along with U.S. Global GDP growth of 3.5% and 3.6% is expected in 2017 and 2018 respectively however the meteoric growth that outpaces global GDP will be concentrated in countries like China, India and U.S.

Geography - Segment Analysis

APAC dominates the caprylhydroxamic acid market with a share of 40% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the pharmaceutical and health care sector, due to the large prospective population in the region coupled with the factors which are inducing the growth of the market such as rising personal disposable income and increasing internet penetration in the region. Further, distribution of personal care product market has a huge role in the success of a company as it directly impacts the demand and supply in the market and hence the revenue. With the rising penetration of internet and e-commerce across the globe, the reach of personal care products companies has increased. The perks of e-commerce have not only benefitted the companies but also the consumers in terms of pricing and a vast range of options available to them.

Moreover, new customers have also been attracted by the online distribution route. The 2019–20 coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business therefore, it hinder the growth of caprylhydroxamic acid market in the year 2020. The current COVID-19 epidemic outbreak has deeply influenced consumers' daily life and in addition to the impact on coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business. The current epidemic outbreak has deeply influenced consumers' daily life and in addition to the impact on the pharmaceutical companies. Raw materials from China are used in making antibiotics, paracetamol, and diabetes and cardiovascular drugs, among others. Pharmaceutical Companies are hugely dependent on Chinese imports. More than 50% of the needs of antibiotic makers in global market is fulfilled by China. The entire spectrum of the industry is going to get impacted if the situation will continue. India is the world’s third-largest drug producer by volume, imports 70% of its raw materials from the China but due to the ban on imports the growth of the pharmaceutical market is hindering.

Drivers – Caprylhdroxamic Acid

Caprylhdroxamic Acid are organic replacement to parabens

Caprylhdroxamic Acid is a preservative and broad spectrum anti-fungal agent. Caprylhdroxamic Acid, unlike many other more common preservatives, is very effective at neutral pH levels. It is also a chelating agent of iron ions, low iron environments show lower levels of mold growth. Caprylhdroxamic Acid is thought to be a replacement to parabens, which are a widely used preservative but have numerous health and safety concerns associated with them. In cosmetics, it has been found to be a suitable replacement for traditional preservatives and it functions well with other ingredients found inside of cosmetic products.

Caprylhdroxamic Acid is proven to have a list of benefits for baby care products

Babies are born with a natural covering called Vernix Caseosa. The vernix is white in appearance and creamy to touch. Caprylhydroxamic Acid, a derivative of coconut oil is a natural acid that is gentle on the baby skin. Other preservatives, such as alcohol, biocides, or harmful preservatives are dangerous for the baby skin.

Challenges – Caprylhdroxamic Acid

High Manufacturing Cost can restrict the Growth of the Market

The manufacturing cost of caprylhydroxamic acid is high. That’s why when the end use industry manufacture a product based caprylhydroxamic acid its cost also increased. Secondly, the raw material which is used in the production of High caprylhydroxamic acid is also costly. These are the major restraint which affect the market of caprylhydroxamic acid material in near future.  

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Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the caprylhydroxamic acid market. In 2019, the market of caprylhydroxamic acid has been consolidated by the top five players accounting for XX% of the share. Major players in the caprylhydroxamic acid market are 3B Scientific Corporation, 9 Ding Chemistry, Ark farm Inc., Beijing Yunbang Bioscience Co Ltd, Carbone Scientific and others.

Acquisitions/Technology Launches/Product Launches

In February 2019, INOLEX  obtained USDA bio based certification for 55 of its products in the USDA BioPreferred® Program, making it the largest portfolio of Personal Care ingredients to be offered under the USDA Certified Bio based Product label. INOLEX products were processed through the SEI bio based Certification Program which includes testing for bio based content in accordance with an approved ASTM test method (D6866) at a certified ASTM laboratory.

The Blanket Aerogel Market size is estimated to reach US$1.1 billion by 2027 after growing at a CAGR of 15.2% during the forecast period 2022-2027. Aerogel granules are typically enclosed in non-woven fibers to create an aerogel blanket that is less dusty, compressible and very effective insulation material and it is derived from silica, polymer and carbon. The increased use of aerogel blankets in aerospace is projected to boost the growth of the aerogel blanket market. The strong demand from the oil and gas industry to minimize the production cost is also a crucial element that will favor the expansion of the aerogel blanket market. The covid-19 pandemic majorly impacted the blanket aerogel market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as transportation, building & construction and others, the blanket aerogel market size is anticipated to grow rapidly during the forecast period.

Blanket Aerogel Report Coverage

The “Blanket Aerogel Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the blanket aerogel Industry.

By Type : Silica, Polymers and Carbon.

By Layer :

Mono-Layer and Multi-Layer.

By End-use Industry :

Transportation (Automotive, Aerospace, Marine and Locomotive), Building & Construction (Residential, Commercial and Infrastructure), Oil & Gas, Chemical &Pharmaceuticals, Electrical & Electronics, Medical & Healthcare and Others.

By Geography :

North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of the Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

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Key Takeaways

Asia-Pacific dominates the blanket aerogel market size, owing to growing demand from end-use industries such as automobiles, building & construction and others, thereby boosting the demand for blanket aerogel in APAC during the forecast period.

The significant increase in demand for these blankets due to their non-toxic and environmentally friendly nature is projected to drive blanket aerogel market expansion.

Rapid improvements in the field of apparel manufacturing, as well as the stability of aerogel blankets due to their moisture resistance, are projected to provide a number of potential prospects for the aerogel blanket market.

However, However, the nonwoven market's growth may be hampered by frequent price fluctuations in raw materials which hamper the market growth of blanket aerogel.

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Blanket Aerogel Market Segment Analysis – by Type

Silica held the largest share in the Blanket Aerogel Market share in 2021 and is forecasted to grow at a CAGR of 15.1% during the forecast period 2022-2027, owing to the extensive characteristics provided by silica when compared to other material types such as polymer and carbon. Aerogel blankets made of silica are created utilizing fiber reinforcements, which turn inelastic aerogels into robust, stretchable and water-repellent textiles. It is anticipated that these nonflammable blankets comprised of silica aerogels will be particularly successful in passive fire protection in homes, companies and other infrastructure, which drives the market growth of silica in the blanket aerogel market. Thus, these extensive properties compiled with increasing application in the aerospace and building & construction industry are majorly driving its segmental growth. Thus, the high demand for silica from various industries will propel the blanket aerogel industry.

Blanket Aerogel Market Segment Analysis – by End-use Industry

Building & Construction held the largest share in the Blanket Aerogel Market share in 2021 and is forecasted to grow at a CAGR of 15.4% during the forecast period 2022-2027. Blanket aerogel is flexible blanket insulation that can assist reduce energy loss while also saving space in commercial and residential buildings. Blanket aerogel is an excellent energy-saving material that prevents heat loss or gains via the building envelope. It is often utilized for total coverage in walls, floors and roofs, as well as framing and windows, to provide maximum energy efficiency. The building and construction sector is flourishing due to increasing investment and urbanization, the development of architectural sites and residential housing plans. For instance, according to the U.S Census Bureau, the seasonally adjusted annual rate of construction in the United States increased from US$1,553,547 in April 2021 to US$1,744,801 in April 2022. According to Oxford Economics, the global construction output in 2020 was US$10.7 trillion 2020 and is expected to grow by 42% or US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion. With the rise in building and construction projects across the globe, the demand for blanket aerogel is anticipated to rise for various applications, which is projected to boost the market growth in the building and construction industry during the forecast period.

Blanket Aerogel Market Segment Analysis – by Geography

The Asia-Pacific held a significant share in the Blanket Aerogel Market share in 2021 up to 42.6%. The fueling demand and growth of blanket aerogel in this region are influenced by flourishing demand from major industries such as construction, automotive and others, along with fueling manufacturing activities across APAC. The building and construction sector is growing rapidly in Asia-Pacific owing to a major development in infrastructural projects, emphasis on affordable housing units and modular building technology. According to Japan's Ministry of Land, Infrastructure, Transport and Tourism, the construction order for new houses rose to 32.3% in June 2021, compared to -13.4% in June 2020. Furthermore, the Make in India campaign by the Government of India plans to achieve infrastructural investment worth US$965.5 million by the year 2040. According to the International Trade Administration, the construction sector in China is projected to grow at an average of 8.6% from the year 2022 to 2030. With the robust growth of the building and construction industry in Asia-Pacific, the demand for blanket aerogel in construction will rise, which is projected to boost the market growth in the building and construction industry during the forecast period.

Blanket Aerogel Market Drivers

Rising Demand for Oil and Gas Industry:

The rising demand for blanket aerogel in the oil & gas industry is the major factor driving the market growth of the blanket aerogel market. Aerogel blankets are primarily used to improve the insulation of deep-sea pipes and oil and gas pipelines in order to minimize production costs, increase pipeline compression resistance and reduce the quantity of steel used in construction. The industrial, commercial and residential sectors' consistently rising need for oil and gas supplies is a major factor in the blanket aerogel market's expansion. For instance, Nigeria completed the Dangote Refinery and Polypropylene Plant project at the end of 2021. The plant is anticipated to process various crude grades, including shale oil and have a production capacity of 12 300 b/d of fuel oil, 104,000 b/d of diesel and 153,000 b/d of gasoline, 4,109 b/d of LPG and 73,000 b/d of jet fuel. As a result, the need for blanket aerogel to comply with current environmental requirements will rise along with the demand for oil and gas production activities in several nations throughout the world, fueling blanket aerogel industry expansion in the coming years.

Bolstering Growth of the Automotive Industry:

The bolstering growth of the automotive industry is driving the market growth of blanket aerogel. Aerogel blankets have high mechanical resistance, providing durable and long-lasting insulation and low thermal conductivity, allowing for a reduction in total insulation thickness. These features improve blanket capabilities and expand the aerogel blanket market in the automobile industry. Moreover, the automotive sector is rapidly growing due to factors such as the high demand for passenger vehicles among the middle class, urbanization and flourishing growth in fuel-efficient vehicle technologies. According to the report from India Energy Storage Alliance, the EV market in India is expected to increase at a CAGR of 36% until 2026. Furthermore, the National Automobile Dealers Association (NADA) anticipates that the new light-vehicle sales in 2022 will show an increase of 3.4% compared to 2020. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global production of passenger cars rose from 55834456 units in 2020 to 57054295 units in 2021. With the increase in automotive vehicle production and growth prospects, the demand for blanket aerogel will rise. Thus, with flourishing demand in automotive, the blanket aerogel is driving and growing rapidly.

Blanket Aerogel Market Challenge

High Manufacturing Cost:

The high cost of production is one of the primary issues limiting the growth of the aerogel market. The high cost of silica aerogels is attributable to the high cost of raw materials labor-intensive approach techniques and enterprises' configuration of relatively small production capacity. Aerogel materials necessitate extensive research and development, making the entire process costly. Aerogel materials are created utilizing less versatile synthetic processes. Due to the extremely specialized production procedures, aerogel manufacture demands a complex facility. Supercritical drying is the most expensive step in the aerogel manufacturing process. As a result of this serious flaw in the new manufacturing technology, overall production costs rise, requiring manufacturers to boost product prices to meet the costs, which has a negative impact on blanket aerogel market growth.

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Blanket Aerogel Market Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the blanket aerogel market. The top 10 companies in the Blanket Aerogel market are:

Cabot Corporation

Aerogel Technologies LLC

Enersens Aerogel

Green Earth Aerogel Technologies

Armacell International S.A.

ZhengZhou Joda Technology Co. Ltd.

Aspen Aerogels Inc.

Acoustiblok UK Ltd.

Active Aerogels

Airglass AB

Recent Development

In August 2020, Armacell, introduced ArmaGel DT, a next-generation flexible aerogel blanket for dual-temperature and cryogenic applications. ArmaGel® DT aerogel insulation blanket with an integrated vapor barrier is available in thicknesses of 5, 10, 15 and 20 mm.

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The Classic Steel Cylinder Market size is estimated to grow at a CAGR of 3.6% during the forecast period 2022-2027. Classic steel cylinders are used to store and transport gases such as nitrogen, oxygen, helium, carbon dioxide and natural gases above atmospheric pressure and they include stainless steel, titanium alloy and cast iron. Due to its extensive qualities like low cost and easy availability, the Classic Steel Cylinder is mostly employed in the chemical sector, mining industry and hotel business. Classic steel cylinders are primarily used for the storage and transportation of industrial gases, medical oxygen, food and beverage grade gas and alternative aerospace gases. The growing demand for gas cylinders in various industrial sectors such as automotive, recreation, life support and transportation are driving market expansion. The rising demand for gas cylinders in natural gas automobiles, driven by rising carbon footprints from combustion engines, is further strengthening market value. The covid-19 pandemic majorly impacted the class steel cylinder market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as transportation, building & construction and others, the Classic Steel Cylinder Market size is anticipated to grow rapidly during the forecast period.

Classic Steel Cylinder Market Report Coverage

The “Classic Steel Cylinder Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the classic steel cylinder Industry.

By Cylinder Height - >= 36 Centimeter and < 140 Centimeter

By Cylinder Capacity -

?40 Liter, 40L-80 Liter and ?80 Liter

By Application-

Liquified Petroleum Gas (LPG), Compressed Natural Gas (CNG), Medical Gas (Oxygen, Nitrogen, Argon and Others), Industrial Gas (Hydrogen, Acetylene and Others) and Others

By End-Use Industry -

Transportation (Automotive, Aerospace, Marine and Locomotive), Building & Construction (Residential, Commercial, Industrial and Infrastructure), Food & Beverages, Medical & Healthcare and OthersBy Geography - North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East and Africa)

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Key Takeaways

Asia-Pacific dominates the Classic Steel Cylinder Market size, owing to Increased construction activities and automotive production have boosted product demand in the APAC region

The market for foods and beverages makes substantial use of Classic Steel Cylinders because of their low cost and easy availability. It is anticipated that this will increase demand for traditional steel cylinders over the anticipated period.

The demand for transportation storage containers for liquid petroleum gas (LPG) and compressed natural gas is likely to fuel the expansion of the Classic Steel Cylinder Market.

However, fluctuations in prices of Classic Steel Cylinder will hamper the growth of the Classic Steel Cylinder Market

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Classic Steel Cylinder Market Segment Analysis – By Application

The Liquified Petroleum Gas segment held a significant share in the Classic Steel Cylinder Market share in 2021 and is forecasted to grow at a CAGR of 3.9% during the forecast period 2022-2027, owing to increasing demand from various end-use industries. Classic steel cylinders are extensively used in liquified petroleum gas due to their combination of features such as pliability, strength, corrosion resistance, aesthetic properties, low maintenance cost, average product life cycle, cast iron, titanium alloy and stainless steel, which drive the market growth of Classic Steel Cylinder in liquified petroleum gas industry. According to U.S. Energy Information Administration, from 2016 to 2021, U.S. LNG export capacity and shipments expanded significantly, from 200 billion cubic feet to 3600 billion cubic feet. These extensive properties compiled with increasing application in the construction and transport industry are majorly driving its segmental growth. Thus, the use of liquified petroleum gas in construction and transportation will propel the Classic Steel Cylinder Market share.

Classic Steel Cylinder Market Segment Analysis – By End-Use Industry

The Automotive segment held a significant share in the Classic Steel Cylinder Market share in 2021 and is forecasted to grow at a CAGR of 4.3% during the forecast period 2022-2027, owing to the increasing usage of classic steel cylinder in the automotive components. The increased use of natural gas and LPG as power sources in the automotive sector has resulted in a significant demand for classic steel cylinders. Additionally, the implementation of government support policies and the benefits of using natural gas in transportation have increased the demand for classic steel cylinder. According to the Energy Information Administration (EIA), by 2035, there will be 1.7 million automobiles worldwide. According to the International Organization of Motor Vehicle Manufacturers (OICA), automobile output increased by 10% in the first nine months of 2021, to 57.26 million vehicles, up from 52.15 million units in the same period last year. With the increasing automotive production, the demand for classic steel cylinder will also likely increase, as a result of which the classic steel cylinder industry will be flourished over the forecast period.

Classic Steel Cylinder Market Segment Analysis – By Geography

The Asia-Pacific segment held a significant share in the Classic Steel Cylinder Market share in 2021 up to 43%. The flourishing growth of classic steel cylinder is influenced by its major applications across major industries, along with growing development in automotive production and developed the base for classic steel cylinder in APAC. The increased use of natural gas and LPG as power sources in the automotive sector has resulted in a significant demand for classic steel cylinders. Additionally, the implementation of government support policies and the benefits of using natural gas in transportation have increased the demand for classic steel cylinder. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production and Vietnam grew by 1.2 per cent and 5.5 per cent from the previous year to 5,71,632 and 2,50,000 units, respectively, in 2019. In November 2020, Boeing forecasted that China's airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aircraft services over the next 20 years. According to India Brand Equity Foundation (IBEF), India’s domestic automobile production increased at a 2.36 per cent CAGR from FY16 to FY20, with 26.36 million vehicles produced in FY20. Between FY16 and FY20, domestic automobile sales increased at a 1.29 per cent compound annual growth rate (CAGR), with 21.55 million vehicles sold in FY20. According to the Japan Automobile Manufacturers Association (JAMA), automobile production in Japan increased in November from 6,67,462 units in October to 6,90,311 units. Thus, the growth of the Classic Steel Cylinder Market in the region is being aided by the increasing automotive sector in APAC, thereby dominating the market in the Asia-Pacific region.

Classic Steel Cylinder Market Drivers

Rising Demand for LPG & CNG:

Classic Steel Cylinder demand is anticipated to rise due to the expanding use of these cylinders for a variety of applications, including heating and cooking, extinguishing fires, water treatment, soldering, beverage dispensing, medical uses and extinguishing flames. As an additional measure, governments throughout the world are putting strict regulations in place to lower emissions from vehicles and other transportation systems. As a result, demand for cylinders is increasing rapidly as more people buy natural gas vehicles around the world. According to the Government of India, The Ministry of Petroleum & Natural Gas has a programme called Pradhan Mantri Ujjwala Yojana that aims to link women from Below Poverty Line (BPL) families to LPG. Provision has been included in the Union Budget for FY 21–22 for the release of an additional 1 crore LPG connections under the PMUY scheme. According to International Energy Association, By 2029, the Indian government plans to have more than 35 million additional LPG connections and over 7000 new CNG filling stations. According to the U.S. Department of Energy, CNG fuels around 175,000 vehicles in the United States and approximately 23 million vehicles globally. With the increase in LPG and CNG production and growth prospects, the demand for classic steel cylinders is rising in the LPG and CNG industry. Thus, with flourishing demand for LPG and CNG, the classic steel cylinders are driving and growing rapidly.

Increase in Government Initiatives:

An increasing number of government initiatives in emerging economies to educate people about the benefits of using Classic steel cylinders instead of conventional cooking fuels such as coal, wood and kerosene are predicted to boost the growth of the Classic gas cylinder industry. Furthermore, unlike non-renewable fuels, LPG is portable, profitable, clean and non-toxic, which is expected to drive demand for class steel cylinders internationally. For instance, According to India Equity Foundation Market, In December 2021, Prime Minister Narendra Modi's Pradhan Mantri Ujjwala Yojana (PMUY) 2.0 in Uttar Pradesh delivered approximately 8.05 million residential LPG gas connections. According to International Energy Agency, The French government will invest EUR 2.5 billion in CNG and electric transportation as part of its "France 2030" investment plan. With the increase in government initiatives, the demand for classic steel cylinders is rising in the various end-use industry. Thus, with flourishing demand in the end-use industry, the classic steel cylinder is driving and growing rapidly.

Classic Steel Cylinder Market Challenge

Fluctuations in Prices:Classic Steel Cylinder pricing fluctuations and intense supply chain pressure will hinder the Classic Steel Cylinder Markets growth rate. Fluctuations in the cost of titanium alloy, cast iron and certain important gases such as pyrophoric, inert, stainless steel, LPG and CNG, may hinder Classic Steel Cylinder Market growth. Due to increasing demand for various gases, intense supply chain pressure is likely to limit global market expansion. Moreover, the danger associated with classic steel cylinder such as the explosion of gas further limited the marketgrowth of class steel cylinder. These are the key market restraints that will impede market expansion. However, this is aided further by by-product laws and constraints, which are some of the key factors projected to restrain worldwide market revenue growth throughout the forecast period.

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Classic Steel Cylinder Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the classic steel cylinder Market. The top 10 companies in the Classic Steel Cylinder Market are:

Acerinox S.A.

Aperam Stainless

ArcelorMittal

Baosteel Group

Jindal Stainless

Nippon Steel Corporation

Outokumpu

POSCO

ThyssenKrupp Stainless GmbH

Yieh United Steel Corp.

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