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Global endoscopy devices industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research along with an endoscopy devices statistics e-book.
Access the Global Endoscopy Devices Industry Data Book from 2023 to 2030, compiled with details by Grand View Research
Endoscopes Market Insights
The global endoscopes market was valued at USD 18.8 Billion in 2022 and is anticipated to grow at a CAGR of 9.0% over the forecast period. It is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2023 to 2030. Growing awareness levelsabout minimally invasive surgical procedures and the increasing prevalence of chronic disorders are the major factors accelerating the market growth. The benefits, such as less surgery-related blood loss, no muscle cutting, and quicker recovery, offered by minimally invasive surgeries boost the adoption of endoscopic procedures over traditional/open-invasive surgeries. In addition, advancement in endoscopic technology and the rapid increase of its application to diagnose and treat various diseases are other key factors anticipated to propel the market growth over the forecast years.
The flexible endoscopes product segment dominated the market in 2022. This is attributed to the high demand for these devices on account of their unique features, such as the ability to reach viscera & cavities, better safety & efficiency, and improved ergonomic features. These devices are most commonly used in several endoscopic procedures, such as esophagogastroduodenoscopy (OGD), bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, nasopharyngoscopy, rhinoscopy, and colonoscopy procedures, which supports the product demand and segment growth.In 2022, the outpatient facilities end-use segment dominated the market. Increasing adoption of endoscopes across outpatient facilities, such as ambulatory surgery centers (ASCs) and diagnostic clinics, for the early diagnosis and detection of several life-threatening diseases is supporting the segment's growth.
Endoscopy Visualization Component Market insights
The global endoscopy visualization component market was valued at USD 6.7 Billion in 2022 and is anticipated to grow at a CAGR of 7.0% over the forecast period. Significant increase in the number of endoscopic procedures and increasing preference for minimally invasive surgeries are major factors contributing to the expansion of the market. Owing to the advantages of endoscopy over open surgeries, significant cost savings, and favorable government reimbursement policies, the demand for endoscopy is increasing. This coupled with the rapid adoption of advanced diagnostic tools has created a need for advanced visualization techniques. As a result, various manufacturers are focusing on introducing systems and components with better visualization capabilities. For instance, in September 2020, PENTAX Medical, a division of Hoya Corporation announced the launch of J10 Series Ultrasound Video Gastroscopes that offers renowned image quality and enhanced mobility.
The endoscopy visualization systems segment is estimated to dominate the market throughout the forecast period. Endoscopy is being widely used in various medical specialties such as gastroenterology, urology, gynecology, pulmonology, ENT, and others. Rising usage of high definition systems and increasing prevalence of cancer are factors favoring the growth of the segment. According to the WHO, the number of new bladder cancer cases is projected to rise from 573,000 in 2020 to 767,000 by 2030. Furthermore, rising government initiatives for newborns hearing screening are expected to drive the growth of the segment.
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Endoscopy Visualization System Market Insights
The global endoscopy visualization system market was valued at USD 16.7 Billion in 2022 and is anticipated to grow at a CAGR of 6.8% over the forecast period. Significant increase in the number of endoscopic procedures and increasing preference for minimally invasive surgeries are major factors contributing to the expansion of the market. Owing to the advantages of endoscopy over open surgeries, significant cost savings, and favorable government reimbursement policies, the demand for endoscopy is increasing. This coupled with the rapid adoption of advanced diagnostic tools has created a need for advanced visualization techniques. As a result, various manufacturers are focusing on introducing systems and components with better visualization capabilities. For instance, in September 2020, PENTAX Medical, a division of Hoya Corporation announced the launch of J10 Series Ultrasound Video Gastroscopes that offers renowned image quality and enhanced mobility.
The endoscopy visualization systems segment is estimated to dominate the market throughout the forecast period. Endoscopy is being widely used in various medical specialties such as gastroenterology, urology, gynecology, pulmonology, ENT, and others. Rising usage of high definition systems and increasing prevalence of cancer are factors favoring the growth of the segment. According to the WHO, the number of new bladder cancer cases is projected to rise from 573,000 in 2020 to 767,000 by 2030. Furthermore, rising government initiatives for newborns hearing screening are expected to drive the growth of the segment.
Endoscopy Operative Devices Market Insights
The global endoscopy operative devices market was valued at USD 8.6 Billion in 2022 and is anticipated to grow at a CAGR of 5.7% over the forecast period. It is expected to expand at a CAGR of 5.1% from 2021 to 2028. The rising prevalence of chronic diseases, surging demand for minimally invasive procedures, and increasing technological advancement in endoscope systems are the key factors aiding the market growth. An increase in the preference for keyhole or minimally invasive surgeries due to shortened hospitalization reduced post-operative complications, and decreased blood loss during surgeries is expected to fuel the market growth. The growing geriatric population burdened with chronic diseases is rapidly increasing across the globe and is a potential consumer base for endoscopes. This is likely to significantly drive the market over the forecast period.
The rising prevalence of gastrointestinal, respiratory, urological, and gynecological disorders, wherein endoscope systems are used to diagnose and treat the ailment, is expected to significantly contribute to the market growth. The growing prevalence of cancer and obesity across the globe is expected to drive the demand for endoscopy operative devices. For instance, the introduction of endoscopic bariatric surgeries as preventive measures is contributing to the growing demand. Similarly, laryngoscopy, colonoscopy, and upper endoscopy are used to diagnose lung, colorectal, and breast cancers. In addition, owing to an anticipated increase in demand for diagnostic and surgical procedures, the market is poised to grow at a higher rate from the first quarter of 2021.
Go through the table of content of Endoscopy Devices Industry Data Book to get a better understanding of the Coverage & Scope of the study.
Endoscopy Devices Industry Data Book Competitive Landscape
Increasing demand for endoscopy devices is increasing competition in the market and, thus, forcing key players to introduce new products in the market. Additionally, it is projected that rising industry consolidation activities, such as acquisitions and mergers by the leading market participants, as well as expanding efforts in R&D of endoscopy device applications by key players, are also expected to boost the market share.
Key players operating in the endoscopy devices industry are –
• Olympus Corporation• Ethicon Endo-surgery, LLC.• FUJIFILM Holdings Corporation• Stryker Corporation• Boston Scientific Corporation• Karl Storz GmbH & Co. KG• Smith & Nephew Inc.• Richard Wolf GmbH• Medtronic Plc (Covidien)• PENTAX Medical• Machida Endoscope Co., Ltd
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Electric off-highway equipment industry data book covers electric agriculture equipment, construction equipment, mining equipment market.
Global Electric Off-Highway Equipment Industry databook is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Electric Off-Highway Equipment Industry Data Book from 2023 to 2030, compiled with details by Grand View Research
Electric Agriculture Equipment Market Insights
Growing commercial farming coupled with a labour shortage is a major factor driving the market growth for electric agricultural equipment. The demand for increased crop yield and the hovering threat of food security is other factors supplementing the market growth for electric agricultural equipment in major agricultural economies. The integration of electric propulsion in agricultural mechanisms owing to increased crop yield, decreased production cost, reduction in post-harvest losses, and efficient time management are also favouring the market growth worldwide.
The growing traction towards farm mechanization is supporting the uptake of electric technology. Electrical agricultural equipment like tractors, threshers, and other cultivation equipment can aid in numerous farming chores. In order to execute a number of crop production processes, mechanization entails the careful application of inputs by utilizing agricultural equipment, such as power-driven machinery and hand tool, which guarantees a decrease in the labour-intensive tasks associated with various farm activities and refocuses the use of inputs to maximize the potential of available resources.
Construction Equipment Market Insights
The electric construction equipment market is experiencing growth owing to stringent laws on noise and carbon emissions caused in closed construction and urban area. The increase in noise pollution in the cities has become a potential threat owing to ramping up construction projects. The noise pollution from the equipment, such as loaders, excavators, and motor graders, have prompted municipal corporation in European cities such as Copenhagen, Oslo, Stockholm, and Helsinki to launch initiatives to launch pilot projects for zero-emission construction sites. The city of Helsinki signed the green deal in 2020 to create zero-emission worksites, and the practice will be slowly applied to the whole town.
The authorities said that as a result of the initiative, it has chosen to use minimal parameters for procuring all upcoming street infrastructure and outsourced infrastructure projects. By 2025, every city's construction sites are expected to be fossil fuel-free; by 2030, all emissions will be eliminated. Similarly, by 2040 London has also declared its intention to reduce emissions from construction sites to zero. The trend for fast-charging equipment, which has a longer operating duration and is powered by hydrogen fuel, solid-state battery, or lithium-ion battery, is gaining traction while supporting the market growth. Fast-charging batteries are known to withstand higher charging speeds prompting manufacturers to offer battery packs that can be swapped when the battery level is low.
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Mining Equipment Market Insights
The mining industry has been dependent on diesel for its major operation, such as transportation vehicles, along with operating mining equipment for underground and surface mining. According to International Council on Mining and Metals (ICMM), diesel-powered engines emit 30 to 80 % of emissions in a mining site. With mining concentrated in hostile and harsh terrains with extreme temperatures, the emission emitted contributes to the higher temperature. Using diesel-powered equipment generates more pollutants while producing more noise and heat while incurring higher operational costs. These factors of conventional mining equipment are fueling the adoption of electric mining equipment in the mining industry.
Electric mining equipment help in reducing heat in underground mine by increasing ventilation and cooling in the underground mining environment. The ongoing urbanization and industrialization are fueling the demand for natural resources such as oil and minerals. As a result, the global mining industry is flourishing. This, in turn, is expected to boost the demand for electric mining equipment, thereby leading to the growth of the market for this equipment worldwide.
Companies operating in the mining equipment market are enhancing their product portfolio by including electric equipment in the lineup to meet the demand for various types of electric mining equipment, such as mineral processing equipment, crushers, surface mining tools, screening equipment, and mining drills & breakers. A range of variants that are either rechargeable batteries, cable-tethered, or use overhead trolley lines make up the most electrified mining equipment. The latter are more common in open-pit mines where using big surface trucks is necessary.
Key players operating in the electric off-highway equipment industry are –
• Komatsu Ltd• Caterpillar Inc • MaterMacc S.p.A• AGCO Corp. • CLAAS KGaAmbH• Mahindra & Mahindra Ltd.• SDF S.p.A.• J C Bamford Excavators Ltd • AGCO Corp. • CNH Industrial N.V.• Deere & Company• CLAAS KGaAmbH• Escorts Ltd.• International Tractors Ltd.• YanmarCo., Ltd.• KubotaCorp.• Mahindra & Mahindra Ltd.• Tractors and Farm Equipment Ltd.• Caterpillar Inc MaterMacc S.p.A• MaterMacc S.p.A • AB Volvo • Caterpillar Inc• Liebherr
Go through the table of content of Industry Data Book to get a better understanding of the Coverage & Scope of the study.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Global blockchain-oriented services industry databook is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Decentralized Finance Market Insights
The global decentralized finance market size was valued at USD 13.61 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 46.0% from 2023 to 2030. The Decentralized Finance (DeFi) market is experiencing significant growth in terms of revenue attributed to the rapid technological advancements and continuous innovation within the crypto industry. In addition, the market's expansion is propelled by the high level of transparency and real-time settlement capabilities offered by DeFi networks.
In April 2023, Life DeFi, a prominent decentralized finance ecosystem, unveiled its latest collaboration with a Web3 infrastructure provider, Validation Cloud. This strategic partnership aims to empower retail users by enabling them to easily stake their digital assets directly from the Life DeFi Wallet mobile applications. Leveraging the robust validator nodes offered by Validation Cloud, this collaboration ensures a seamless, trustworthy, and secure staking experience for users of the Life DeFi platform.
The rise of Decentralized Finance (DeFi) will create new business opportunities for traditional banks and other financial service providers in the coming years. As the use cases for decentralized finance expand and gain traction, financial institutions will have the potential to integrate comprehensive solutions. This could include offering asset securitization and financing to institutional clients within decentralized finance protocols. Furthermore, financial firms may develop specialized services tailored for Web 3.0 enterprises and entrepreneurs, such as compliance solutions, risk management, or insurance underwriting for DeFi protocols.
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Blockchain Messaging Apps Market Insights
The global blockchain messaging apps market size reached a valuation of USD 22.3 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 43.6% from 2022 to 2030. The rising demand for data privacy and increasing advancements in Web 3.0 across the globe is anticipated to drive market growth. For instance, according to the Electric Capital Developer Report 2021, more than 18,416 monthly active Web3 developers are working on open-source crypto and Web 3.0 projects.
The rapid rise in access to the internet and frequent development in internet speed with the deployment of the 5G and 6G technologies are further expected to fuel the market’s growth. For instance, according to DataReportal 2022, around 5.07 billion people worldwide have access to and use the internet, equivalent to almost 63.5% of the total world’s population. Furthermore, the inadequate security offered by traditional messaging platforms is expected to create demand for blockchain messaging apps owing to their high-security feature.
Decentralized Identity Market Insights
The global decentralized identity market size was estimated at USD 647.80 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 90.3% from 2023 to 2030. The rising need for interoperability between different identity systems is accentuating the acceptance of decentralized identity. In today's interconnected world, individuals often interact with multiple platforms and services that have their separate identity systems.
Decentralized identity solutions provide a standardized framework for identity verification that can be seamlessly integrated across various platforms, enabling interoperability and enhancing user convenience. Furthermore, the impulse for self-sovereign identity is an important driver for market growth. Decentralized identity solutions empower individuals with self-sovereign identities, giving them the freedom to manage and share their identity information as they see fit.
Non-Fungible Token Market Insights
The global non-fungible token market size was valued at USD 20.44 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 34.2% from 2023 to 2030. The growing demand for digital art worldwide is one of the major factors driving the market growth. Digital art is defined as the art that is displayed or created using digital technologies.
The growing use of cryptocurrency globally is also anticipated to drive market growth. This is because cryptocurrency is used by people to purchase digital assets. According to CoinMarketCap, as of February 2022, the total global capitalization of cryptocurrency is USD 1.76 trillion, making it equivalent to the world’s 8th largest economy.
The market growth of non-fungible token (NFT) companies is further supported by the substantial funding they have raised. In August 2022, during a community event broadcast live, Collective Proof, a non-fungible token, announced that it had successfully raised USD 50 million in a Series A funding round. The funding round, led by a16z, saw the participation of several prominent investors, including Seven Seven Six, Collab+Currency, True Ventures, Flamingo DAO, SV Angel, and VaynerFund. This substantial investment comes as Proof prepares to launch its upcoming NFT collection, further solidifying its position in the NFT market.
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Web 3.0 Blockchain Market Insights
The global Web 3.0 blockchain market size was USD 1.73 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 47.1% from 2023 to 2030. The ability of web 3.0 to authorize the users to use the decentralized blockchain technology for accessing the decentralized applications is the major factor driving the market growth. Web 3.0 provides perception based on the users’ search content and allows them to control their data on websites.
Web 3.0 technology is also used in social network platforms that aim to improve the customer experience, such as how customers communicate, interact and form communities. Rising investments in Web 3.0 blockchain technology to expand its application is a significant factor driving the growth of the industry. For instance, according to the statistics of Venture Intelligence, a financial analysis company, Web 3.0 and crypto startups have raised more than USD 1 billion in funding across 43 deals in the first six months of 2022.
Numerous companies across the globe are also focusing on launching Web 3.0 practices to help startups scale their businesses and develop innovative solutions. For instance, in July 2022, KiwiTech, an innovation ecosystem company, launched a Web 3.0 Center of Excellence service to empower the next-generation blockchain innovations for startup companies. Such a launch of services is expected to create lucrative growth opportunities for the market during the forecast period.
Key players operating in the blockchain-oriented services industry are –
• Compound Labs, Inc.• MakerDAO• Aave• Signal• Cyber Dust• Crypviser• Microsoft Corporation• Accenture plc• Wipro Limited• YellowHeart, LLC.• Cloudflare, Inc.• Funko• Helium Systems Inc.• Kusama• Livepeer, Inc.
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Global Ultrasound devices and accessories industry databook is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Ultrasound Device Market Insights
The global ultrasound device market size was estimated at USD 10.2 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. The market is expected to experience steady growth during the forecast period. This is attributed to several factors such as increased adoption of ultrasonography for diagnostic and therapeutic applications, rising technological advancements, as well an increase in the number of product launches by key players operating in the market.
Emerging innovations in ultrasound technology are expanding the market size. Hand-held ultrasound devices have made the technology more accessible for use in limited-resource communities globally. Furthermore, the introduction of 3D/4D ultrasound and the integration of artificial intelligence (Al) to automate time-consuming processes are expected to propel market growth during the forecast period. For instance, in July 2023, Sonosite ST was introduced by FUJIFILM Sonosite ST. It has a 21-inch touchscreen with an all-touch interface, a 10" by 7.5" image area, automated setting optimization for each exam type, and Auto Steep Needle Profiling (SNP). To support system compatibility, Sonosite ST belongs to the same family of transducers as Sonosite PX and Sonosite LX.
The growing use of ultrasound equipment for diagnostic imaging and therapy, as well as the rising prevalence of chronic and lifestyle-related illnesses are the key factors anticipating the market’s growth. Ultrasound technology is used in various application areas such as cardiology, obstetrics/ gynecology, vascular, orthopedic, and general imaging. The rising prevalence of cardiac disorders is expected to boost the market globally. According to WHO, Cardiovascular diseases (CVDs) are the major cause of death globally, taking approximately 17.9 million lives each year. In addition, as per the Centers for Disease Control & Prevention, in the United States, every year about 805,000 people have a heart attack, and about 1 in 20 adults aged 20 and older has coronary artery disease (about 5%).
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Ultrasound Transducer Market Insights
The global ultrasound transducer market size was valued at USD 3.3 billion in 2022 and is expected to expand at a CAGR of 4.8% from 2023 to 2030. It is expected to expand at a CAGR of 3.6% during the forecast period. Increasing number of product launches and growing focus of the major players on innovations for safe and accurate diagnosis are the factors driving the growth.
North America is anticipated to hold substantial share of the market during the forecast period owing to high adoption of advanced medical devices. Continuous innovations in ultrasound machine such as portable and mobile ultrasound machine is expected to fuel the growth. Moreover, presence of a large number of ultrasound transducer manufacturers is anticipated to bode well for the regional growth. These companies emphasize on heavy investments to develop smart production methods and process automation, which is a key factor in optimizing product prices and maximizing revenues.
Another innovation pertaining to these devices include burst wave lithotripsy which help delicate procedures including kidney stone destruction. The technology is not only efficient but also offers non-invasive procedure to patients, which is anticipated to ultimately augment the product demand in the forthcoming years.
Growing number of partnerships between resellers for ultrasound transducers is an emerging trend witnessed in the market. Direct purchase from Original Equipment Manufacturers (OEMs) is another trend observed in the market. End users are increasingly dealing with OEMs since they offer efficient technologies like custom strain gauge sensing to finished product designs, to achieve greater business advantage.
Ultrasound Gels Market insights
The global ultrasound gel market size was valued at USD 101.5 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.6% from 2023 to 2030. The increasing adoption rate of ultrasound devices in healthcare settings due to its diagnostic efficiency and cost-effectiveness is the factor expected to drive the demand for the conductive medium during the forecast period. In addition, the increasing number of external sonography procedures requiring a low level of sterility has contributed to its largest market share.
Increasing patient visits reporting problems such as heart disease, kidney and gallbladder problems, and lung and intestinal diseases where ultrasound primarily finds application is expected to increase the consumption rate of the gel. Growing concern to protect the ultrasound transducer from damages and the developing trend to provide utmost patient satisfaction during treatment has led to increasing demand for odorless, colorless, and stain-free ultrasound gels. The availability of handheld sonography devices at affordable prices has promoted their adoption rate in small-sized clinics. Therefore, the growing installation rate of sonography units in clinics has contributed to the rising demand of gel in these setups.
Availability of alternative to ultrasound gels, the advent of gel-free sonography probes, and limited access to medical consumables in rural areas are expected to resist the growth of the market during the forecast period. The gel-free sonography probes can be a major threat to the market, but its expensiveness is limiting its adoption rate.
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Ultrasound Devices and Accessories Industry Data Book Competitive Landscape
The major players are working to improve their product offerings by upgrading their products, taking advantage of important cooperation activities, and exploring acquisitions and government clearances in order to expand their customer base and gain a larger share of the overall market.
Key players operating in the ultrasound devices and accessories industry are –
• Compass Health Brands• ECO-MED• National Therapy Products• H.R Pharmaceuticals Inc• Tele-Paper Malaysia• Sonogel Vertriebs• Medline Industries, Inc• Parker Laboratories• Ultragel Kft.
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Global white spirits industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
Rapid urbanization, growing population, and rising per capita income of consumers are the key factors driving the market’s growth in the Asia Pacific region. North America and Europe emerged as the major regional markets due to the shift in consumer preferences from beer and ciders to spirits. High consumption of alcohol in countries is expected to boost market growth in the Middle East and Africa.
Access the Global White Spirits Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies.
Vodka Market Report Highlights
The global vodka market size was estimated to reach USD 35.94 billion in 2022 and is expected to expand at a CAGR of 6.2% over the forecast period. Millennials have accounted for a significant percentage of alcohol drinkers in the recent past and this trend is anticipated to continue over the forecast period. Millennials have accounted for a significant percentage of alcohol drinkers in the recent past and this trend is anticipated to continue over the forecast period. The generation exhibits significant purchasing power and represents a major demographic for the alcoholic beverages market as they form a major percentage of consumers frequently visiting restaurants and pubs. As a result, they appear to be the most powerful buyers of various food and drink items, including vodka.
Vodka-based Ready to Drink (RTD) beverages such as pre-mixed cocktails, spirits, and hard seltzers are witnessing a huge increase in new product development, which is expected to drive the market. For example, in March 2022, under the Svedka brand, Constellation Brands launched a canned vodka line. The Tea Spritz line is described as a spirit-based hard seltzer that combines real tea, sparkling water, and natural tropical fruit flavors and is available in three flavors: Orange Mango, Pineapple Guava (both of which include turmeric), and Raspberry Kiwi.
Unlike beer and wine, vodka consumption at restaurants and bars has been growing. The growth is expected to continue outpacing on-premise consumption. With consumers' return to bars following the COVID-19 disruptions, vodka's on-premise consumption has been fueled, and this trend is anticipated to continue. According to IWSR Drinks Market Analysis in 2019, total vodka on-premise sales increased by 5.9% in the U.S. Grey Goose, for example, saw a 181% increase in on-premises sales in 2021, presenting lucrative opportunities for premium vodka manufacturers.
The flavored segment is anticipated to witness the fastest growth rate during the forecast period owing to the growing demand for high-end flavored vodka, especially among the millennial population. key companies are trying to offer a variety of vodka products and pioneer the ‘ready-to-shake’ drinks category. The newly launched product line includes the ‘Whisky Sour’ with DEWAR’S Blended Scotch whisky, ‘Rum Daiquirí’ made with BACARDÍ rum, and the ‘Espresso Martini Cocktail’ and ‘Passion Fruit Martini Cocktail’ made with 42BELOW vodka. With such initiatives
The off-trade segment is expected to register significant growth during the forecast period owing to the discounts and promotional offers provided by the retail outlets. The ease of accessing different varieties of alcohol at the outlets is expected to notable growth during the forecast period.
Asia Pacific is expected to register a significant CAGR of 6.1% during the forecast period. Asia Pacific is one of the leading markets for vodka owing to increased spending from people on better quality beverages in the region. In China, there has been a well-documented shift to buying alcohol online since the start of the pandemic. According to the study published by IWSR, the data shows that from 2019-2020, the value of China’s alcohol e-commerce sector grew by approximately 20%. The increased penetration of online sales of alcohol in China is driving the growth of the vodka market.
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Rum Market Report Highlights
The global rum market size was estimated to reach USD 7.94 billion in 2022, registering a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. Rum is one of the most consumed beverages in all spirits, and consumers are highly inclined towards flavored and premium alcoholic beverages. Factors such as the growing urban population coupled with rising per capita income, consumers’ willingness to pay for premium brands, and younger generations increased footprints in places like nightclubs, pubs, and bars are expected to propel the market growth.
The high demand for flavored and spiced rums observed in recent years is driving the growth of the overall market. Rum is also extensively used for shakers, drink mixes, and cocktails thereby driving its demand among consumers. For instance, as per Wine and Spirit Trade Association in 2020, rum was declared the “drink of lockdown” owing to the availability of flavor-infused varieties. The change in consumer tastes and the growing demand for small-batch, handcrafted rum with darker/bolder flavor profiles are contributing to the growth of the market. For instance, Ron Zacapa 23 is made with brown sugar and hints of chocolate and caramel. This expression blends six to 23-year-old rum using the solera process, which combines younger and older liquids in oak casks. Such flavors have a higher preference among regular rum drinkers.
Technology-driven trends in the aging process of the product have changed consumer preferences to a considerable extent. Consumers largely opt for aged rum with darker and bolder flavors. The trends in product sales are largely driven by brand awareness, shopping frequency, and expenditure capability of different buyers. The purchasing habits of younger consumers are often influenced by the price point and brand position. A key observation in the buying behavior of millennials is the preference for brands available on online platforms, after comparing price and style.
The market growth is anticipated to be driven by the positive health associations linked to moderate consumption. When consumed in limited amounts, rum is believed to offer various health benefits, including promoting a healthy heart, aiding in the fight against common colds, and potentially benefiting individuals with diabetes by helping to lower blood sugar levels.
Gin Market Report Highlights
The global gin market size was estimated to reach USD 13.49 billion in 2022, registering a CAGR of 5.9% over the forecast period, according to a new report by Grand View Research, Inc. The growth of the gin market can be attributed to several key factors that have contributed to the increasing popularity of gin. One such factor is the rising demand for gin cocktails, which have become a favored choice among consumers. Additionally, there is a noticeable increase in the preference for premium spirits, driving the expansion of the gin market. This trend of "premiumization" is particularly appealing to younger consumers who possess more refined palates and actively seek out unique and high-quality alcoholic beverages.
Moreover, consumers are becoming more conscious of their health and are increasingly aware of the potential benefits associated with consuming gin. This growing awareness has played a role in boosting market growth as gin is perceived to have certain health advantages.
To cater to evolving consumer preferences, the alcoholic beverage industry has embraced the use of natural ingredients. By incorporating natural flavors, these beverages are enhanced both in terms of functionality and overall appeal. This emphasis on natural flavors has gained significant popularity within the industry, as it preserves the authentic taste and rustic charm of gin. Consequently, gin has become a favored choice for creating high-quality drinks, prominently featured on on-trade counters.
Go through the table of content of White Spirits Industry Data Book to get a better understanding of the Coverage & Scope of the study.
Competitive Landscape
Key players operating in the White Spirits Industry are –
• Diageo plc• Rémy Cointreau• Bacardi Limited• Pernod Ricard• Beam Suntory, Inc.• Radico Khaitan• Stock Spirits Group• Hite Jinro Co Ltd• Constellation Brands Inc• MIGUEL TORRES SA• Brown‑Forman• Proximo Spirits, Inc.• Distell Limited• Suntory Beverage and & Food Limited• Alberta Distillers, LTD• William Grant & Sons• San Miguel Food and Beverage, Inc.• DESI DARU LTD• AMBER BEVERAGE GROUP• JACOB RIEGER & CO.
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The patient monitoring devices industry databook compiled by Grand View Research is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Patient Monitoring Devices Industry Data Book from 2023 to 2030, compiled with details by Grand View Research
Remote Patient Monitoring Devices Market Insights
The global remote patient monitoring devices market size was estimated at USD 4.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 18.5% from 2023 to 2030. The COVID-19 pandemic has had a significant impact on the remote patient monitoring system. The main drivers for this market are the increasing geriatric population, cost-effective treatment, and the rising prevalence of chronic conditions. The breakout of COVID-19 has propelled the demand for remote patient monitoring devices and services as healthcare facilities were burdened with COVID-19-infected patients. Key players like Smiths Medical reported that the demand for their home monitoring devices substantially increased during the pandemic.
The amalgamation of telehealth with remote patient monitoring services is expected to further boost market growth. The Asia Pacific is also projected to be a key revenue generator in the coming years. The region is backed by developing countries such as China, South Korea, and Thailand which are witnessing an increase in the number of chronic diseases owing to lifestyle changes. Cardiovascular disease is among the leading cause of death in these countries. The remote patient monitoring system is expected to play a key role in the early detection and timely management of these diseases.
Vital Sign Monitoring Devices Market Insights
The global vital sign monitoring devices market size was valued at USD 9.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. The growing prevalence of lifestyle-associated chronic conditions and rising demand for advanced monitoring devices in developing countries, such as China, India, Thailand, and Brazil, are the major factors driving the market growth. The availability of monitoring systems at competitive prices and increasing disposable income are also expected to fuel the market growth during the forecast period. The introduction of advanced, integrated vital signs monitoring solutions and the growing trend of using these devices in home healthcare settings & all-time wearable devices for chronic patients will support the market growth.
The hospital end-use segment dominated the market in 2021 due to the factors, such as the huge patient pool, financing capability, and the requirement for vital signs monitors in bulk in hospitals. The product demand escalated drastically in 2020 due to the outbreak of COVID-19 as a daily measurement of the vital signs was the crucial parameter to be looked for in identifying the presence of the virus. These devices can also provide facility-based surveillance for healthcare-associated infections, including infections in healthcare workers and inpatients, which is one of the vital components of the COVID-19 infection prevention and control measures. The product usage for in-home settings also saw a surge with respect to maintaining patient and provider safety while also allowing real-time access to vital signs via Cloud Portals.
Order your copy of the Free Sample of “Patient Monitoring Devices Industry Data Book - Remote Patient Monitoring, Vital Sign Monitoring Devices, Blood Pressure Monitoring Devices and Multiparameter Patient Monitoring System Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Blood Pressure Monitoring Devices Market insights
The global blood pressure monitoring devices market size is expected to reach USD 7.96 billion by 2030, registering a CAGR of 9.4%, according to a new report by Grand View Research, Inc. The growing global geriatric population base is expected to widen the consumer base by triggering incidence rates of hypertension, which is expected to drive the demand for blood pressure monitoring devices. The increasing incidences of hypertension have led to rising demand for cost-effective, rapid, and accurate diagnostic solutions. Blood pressure monitors are one of the vital sign monitors of life. The cost-effective and accurate results offered by these indicators are responsible for the rapid expansion of business scale.
In addition, new product launches, coupled with the rising adoption of technologically advanced products due to the high penetration of health insurance, are considered other factors fueling the demand for blood pressure (BP) monitoring devices. The increasing popularity of mHealth platforms in the healthcare sector is propelling the industry's growth. Rising patient awareness levels about the advantages associated with portable monitoring devices are expected to positively reinforce market growth.
Multiparameter Patient Monitoring System Market Insights
The global multiparameter patient monitoring systems market size was valued at USD 11.5 billion in 2022 and is expected to expand at a CAGR of 5.7% from 2023 to 2030. Increasing health concerns and the resultant requirement to constantly monitor the health parameters of patients, before and after surgery is creating demand for multiparameter patient monitoring systems.
The market growth is also supported by the increasing need for hospital transport, such as intra-hospital or out-of-the-hospital transport. For special examination & therapy, hospitals need intra-hospital transport, which calls for more continuous monitoring of vital signs including blood pressure, blood oxygen saturation by pulse oximetry, heart rate, and electrocardiography.
Healthcare providers are continually looking for innovative medical products to offer superior quality care, which is also expected to drive the market. Mobile solutions and data integration low-acuity monitoring are the significant trends that improve the cost efficiency of multiparameter patient monitoring solutions. Key players are introducing advanced patient monitoring products, such as integrated remote monitoring solutions with added features of greater connectivity through cloud technology and WiFi.
For instance, Radius-7 Pulse Co-Oximeters by Masimo Corp. got U.S. FDA approval in March 2020. It is a wearable patient monitor with flexible functionality of WiFi, Bluetooth, and alarms.
Go through the table of content of Patient Monitoring Devices Industry Data Book to get a better understanding of the Coverage & Scope of the study.
Patient Monitoring Devices Industry Data Book Competitive Landscape
The industry growth is directly associated with the rising investments by manufacturers in the development of cost-effective, innovative products, and the rising prevalence of chronic diseases. The industry is marked by the presence of various industry players. The market is highly fragmented and competitive in nature. Companies are focusing on strategic initiatives, such as the introduction of novel products through customization according to consumers’ needs, partnerships, collaborations, and mergers & acquisitions, to expand their product portfolio and extend leadership positions in the field of patient monitoring. In February 2021, Hill-Rom announced that it acquired contact-free continuous monitoring technology from EarlySense for USD 30 million. This acquisition can help the company develop next-generation AI-based sensing technologies, specifically for the remote patient care market.
Key players operating in the Patient Monitoring Devices industry are –
• Honeywell• Telecare• Roche• Philips Healthcare• Bosch• Biotronik• Koninklijke Philips N.V.• GE Healthcare• Medtronic• Masimo Corporation• Smiths Medical
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Global catalyst sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Access the Global Catalyst Industry Data Book, 2023 to 2030, Compiled Report By Grand View Research
Heterogeneous Catalyst Market Report Highlights
The global heterogeneous catalyst market is expected to expand at a CAGR of 4.2% from 2023 to 2030, as per the new report by Grand View Research, Inc.• The polymer segment emerged as the fastest growing end-use segment with a CAGR of 5.0% from 2023 to 2030; as polymers enable and control and efficient synthesis of various polymers with desired properties• The zeolite-based segment emerged as the fastest growing product segment with market share of 21.0% from 2023 to 2030; zeolite-based catalysts find extensive applications in the petroleum and petrochemical industries, providing high selectivity and stability in processes like catalytic cracking, isomerization, and alkylation• Asia Pacific emerged as the fastest growing region with a CAGR of 5.3% from 2023 to 2030 due to high population, land fertility, increased demand for food grains, and effective use of land through fertilizer• W. R. Grace & Co.-Conn., announced the completion of its acquisition of Rive Technology, Inc., a prominent manufacturer of FCC catalysts. This strategic acquisition encompassed a complete array of service offerings, highly skilled workforce, and cutting-edge technological assets, all of which were seamlessly integrated into the operational framework of W.R. Grace & Co.-Conn• Market participants are dedicated to intensively optimizing and managing the efficiency of their supply chains. Their objective is to enhance operational efficiency, increase productivity, reduce lead time, and effectively address sourcing needs. This strategy enables them to remain competitive in the market and effectively contend with other industry players
Homogeneous Catalyst Market Report Highlights
The global homogeneous catalyst market is expected to expand at a CAGR of 4.9% from 2023 to 2030, as per the new report by Grand View Research, Inc.
• The polymer segment emerged as the growing application segment with a CAGR of 5.0% from 2023 to 2030. This is attributed to the fact the homogeneous catalysts such as Ziegler-Natta helps impart specific tactility to polymers which is difficult to attain from any other process.• The chemical compound segment emerged as the fastest growing product segment with market share of 31.0% from 2023 to 2030. Chemical compounds, such as Wilkinson's catalyst ([RhCl(PPh3)3]), are extensively used as homogeneous catalysts, particularly in the hydrogenation of alkenes. They consist of a central metal atom coordinated with various ligands, such as phosphines, amines, or halides, which determine their catalytic activity.• Asia Pacific emerged as the fastest growing region with a CAGR of 5.8% from 2023 to 2030. This technological advancements which have led to the use of catalysts for the synthesis of fine chemicals such as carotenoids, vitamins, and flavoring & fragrance compounds, which is expected to fuel the utilization of the product in the region.• In August 2022, Albemarle Corporation, which is a major player in the specialty chemicals industry worldwide, has declared that it will retain its catalysts business as a wholly-owned subsidiary as part of its strategic plan. The objective of this move is to enable the business to respond more efficiently to specific customer requirements and the changing dynamics of the global market.
Order your copy of Free Sample of “Catalyst Industry Data Book –Market Size, Share, Trends Analysis And Segment Forecasts, 2023 - 2030” published by Grand View Research
Competitive Landscape
The catalyst market operates within a highly competitive environment, driven by the ever-growing demand for efficient and sustainable chemical processes across various industries. The market is characterized by intense rivalry among key players, including multinational corporations, specialty chemical companies, and research institutions. These entities continually strive to develop and commercialize novel catalyst technologies that offer improved performance, selectivity, and cost-effectiveness.
Key players operating in the Catalyst Industry are –
• Albemarle Corporation• Haldor Topsoe A/S• BASF SE• Evonik Industries AG• LyondellBasell Industries Holdings B.V.• Arkema• The Dow Chemical Company• Haldor Topsoe A/S• W. R. Grace & Co.-Conn.• Johnson Matthey• Axens• Honeywell UOP• Zeolyst International• Clariant• Umicore• Exxon Mobil Corporation
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Jyoti Waghmare
posted a blog.
Global catalyst sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Access the Global Catalyst Industry Data Book, 2023 to 2030, Compiled Report By Grand View Research
Heterogeneous Catalyst Market Report Highlights
The global heterogeneous catalyst market is expected to expand at a CAGR of 4.2% from 2023 to 2030, as per the new report by Grand View Research, Inc.• The polymer segment emerged as the fastest growing end-use segment with a CAGR of 5.0% from 2023 to 2030; as polymers enable and control and efficient synthesis of various polymers with desired properties• The zeolite-based segment emerged as the fastest growing product segment with market share of 21.0% from 2023 to 2030; zeolite-based catalysts find extensive applications in the petroleum and petrochemical industries, providing high selectivity and stability in processes like catalytic cracking, isomerization, and alkylation• Asia Pacific emerged as the fastest growing region with a CAGR of 5.3% from 2023 to 2030 due to high population, land fertility, increased demand for food grains, and effective use of land through fertilizer• W. R. Grace & Co.-Conn., announced the completion of its acquisition of Rive Technology, Inc., a prominent manufacturer of FCC catalysts. This strategic acquisition encompassed a complete array of service offerings, highly skilled workforce, and cutting-edge technological assets, all of which were seamlessly integrated into the operational framework of W.R. Grace & Co.-Conn• Market participants are dedicated to intensively optimizing and managing the efficiency of their supply chains. Their objective is to enhance operational efficiency, increase productivity, reduce lead time, and effectively address sourcing needs. This strategy enables them to remain competitive in the market and effectively contend with other industry players
Homogeneous Catalyst Market Report Highlights
The global homogeneous catalyst market is expected to expand at a CAGR of 4.9% from 2023 to 2030, as per the new report by Grand View Research, Inc.
• The polymer segment emerged as the growing application segment with a CAGR of 5.0% from 2023 to 2030. This is attributed to the fact the homogeneous catalysts such as Ziegler-Natta helps impart specific tactility to polymers which is difficult to attain from any other process.• The chemical compound segment emerged as the fastest growing product segment with market share of 31.0% from 2023 to 2030. Chemical compounds, such as Wilkinson's catalyst ([RhCl(PPh3)3]), are extensively used as homogeneous catalysts, particularly in the hydrogenation of alkenes. They consist of a central metal atom coordinated with various ligands, such as phosphines, amines, or halides, which determine their catalytic activity.• Asia Pacific emerged as the fastest growing region with a CAGR of 5.8% from 2023 to 2030. This technological advancements which have led to the use of catalysts for the synthesis of fine chemicals such as carotenoids, vitamins, and flavoring & fragrance compounds, which is expected to fuel the utilization of the product in the region.• In August 2022, Albemarle Corporation, which is a major player in the specialty chemicals industry worldwide, has declared that it will retain its catalysts business as a wholly-owned subsidiary as part of its strategic plan. The objective of this move is to enable the business to respond more efficiently to specific customer requirements and the changing dynamics of the global market.
Order your copy of Free Sample of “Catalyst Industry Data Book –Market Size, Share, Trends Analysis And Segment Forecasts, 2023 - 2030” published by Grand View Research
Competitive Landscape
The catalyst market operates within a highly competitive environment, driven by the ever-growing demand for efficient and sustainable chemical processes across various industries. The market is characterized by intense rivalry among key players, including multinational corporations, specialty chemical companies, and research institutions. These entities continually strive to develop and commercialize novel catalyst technologies that offer improved performance, selectivity, and cost-effectiveness.
Key players operating in the Catalyst Industry are –
• Albemarle Corporation• Haldor Topsoe A/S• BASF SE• Evonik Industries AG• LyondellBasell Industries Holdings B.V.• Arkema• The Dow Chemical Company• Haldor Topsoe A/S• W. R. Grace & Co.-Conn.• Johnson Matthey• Axens• Honeywell UOP• Zeolyst International• Clariant• Umicore• Exxon Mobil Corporation
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Jyoti Waghmare
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Global solar PV systems sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Access the Global Solar PV Systems Industry Data Book, 2023 to 2030, Compiled Report By Grand View Research
Solar PV Modules Market Report Highlights
The global solar PV modules market size is expected to reach USD 157.75 billion in 2022, expanding at a CAGR of 7.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.• The global solar PV modules market is expected to witness growth on account of rising environmental concerns regarding the increase in carbon emissions owing to the usage of conventional fuels for transportation and power generation purposes have prompted countries around the world to opt for cleaner and more efficient sources of power. • Furthermore, under the Paris Climate Agreement, countries such as the U.S., Germany, India, Japan, and the UK have pledged to reduce their carbon footprints.• Numerous governments across the world have framed various regulations to reduce greenhouse gas emissions. • The Kyoto Protocol, which was introduced by the United Nations Framework Convention on Climate Change (UNFCCC) in 1997, was one of the first major steps toward controlling greenhouse gas emissions in various countries. • It also led to increased investments in renewable energy generation methods such as wind, solar, and biogas. For instance, on January 9, 2023, Duke Energy Sustainable Solutions announced the expansion of its Green Source Advantage program with the option to supplement power usage with 100% renewable power with a new capacity of 4 GW.
Order your copy of Free Sample of “Solar PV Systems Industry Data Book –Market Size, Share, Trends Analysis And Segment Forecasts, 2023 - 2030” published by Grand View Research
PV Inverter Market Report Highlights
The global PV inverter market size is anticipated to reach USD 11.10 billion in 2022, registering a CAGR of 15.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.
• Based on product, the string PV inverter dominated the market and accounted for the largest market share of 47.10% in 2023. This is due to its numerous advantages such as efficient energy conversion, grid integration, enhanced performance and monitoring, adaptability and scalability, and cost-effectiveness• Based on end-use, the residential segment is expected to grow at the fastest CAGR of 20.4% over the forecast period. The increasing adoption of solar PV in the residential sector is driving the demand for PV inverters. According to the Solar Energy Industries Association (SEIA), annual solar PV installation in the residential sector in California, U.S., was recorded at 2,000 MW in 2022, up by over 40% compared to the previous year• Asia Pacific dominated the market in 2023, owing to the increasing adoption of renewable energy in the residential, commercial and industrial sector. In addition, favorable government policies such as Pradhan Mantri Kisan Urja Suraksha Evam Uttham Mahabhiyan, Development of Solar Parks and Ultra Mega Solar Power Projects in India are further propelling the market growth• The strengthening of market presence by major players is primarily driven by strategies such as mergers, acquisitions, and product launches. For instance, in March 2023, Semiconductor Components Industries, LLC collaborated with Sineng Electric Co., Ltd. to develop next-generation solar PV inverters to meet the growing demand for solar energy systems by end-users
Solar Charge Controller Market Report Highlights
The global solar charge controller market size is expected to reach USD 1.95 billion in 2022, expanding at a CAGR of 16.7% from 2023 to 2030, according to a new report by Grand View Research, Inc.• By type, the Pulse Width Modulation (PWM) segment accounted for a significant market share in 2019 owing to PWM charge controller ability to self regulate to battery condition and provide constant voltage battery charging• Maximum Power Point Tracking (MPPT) is anticipated to expand at the fastest CAGR over the forecast period. The growth can be attributed to the higher efficiency of MMPT technology and its ability to extract maximum power available from PV module under specified conditions• The commercial application segment occupied the largest market share in 2019 and is expected to expand at the highest CAGR over the forecast period. Growing penetration of solar PV modules for power generation across commercial office spaces is expected to drive the solar charge controller demand across the segment• Asia Pacific accounted for the largest revenue share in 2019, with China being the highest revenue contributor. Presence of major manufacturers, along with significant investments in the solar industry resulting in reduced production costs, is expected to boost the market growth in China.
Go through the table of content of Solar PV Systems Industry Data Book to get a better understanding of the Coverage & Scope of the study.
Competitive Landscape
The solar PV systems market players face strong competition from other regional and national players as well as from each other since they have a well-established supply chain network, knowledge of suppliers across markets, and well-informed about the power generation compliances and regulations for various end-use sectors. The market players compete based on product quality, production capacity, technology used to manufacture solar PV systems, and their geographical presence. Major players engage in investing in research and development, developing infrastructure, production facilities expansion, and mergers and acquisitions to vertically integrate their operations across the solar PV systems value chain. These initiatives help them expand their customer base, reduce production costs, develop state-of-the-art products and technologies, ensure competitiveness, and improve their revenue & operations profits.
Key players operating in the Solar PV Systems Industry are –
• JinkoSolar• JA Solar• Trina Solar• LONGi Solar• Canadian Solar• SunPower Corporation• First Solar• Talesun• Hanwha Group• RISEN ENERGY Co. LTD.• Yingli Solar• GCL-SI• HIANS Energy Solutions Ltd.• Sunrun• Trinity Solar, Inc
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Jyoti Waghmare
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Blood Glucose Meters Industry Data Book Covers Point-of-care Glucose Testing Devices, Self-Monitoring & Continuous Blood Glucose Monitors Market.
Global blood glucose meters industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Blood Glucose Meters Industry Data Book from 2023 to 2030, compiled with details by Grand View Research
Point-of-care Glucose Testing Devices Market Insights
The global point-of-care glucose testing market size was valued at USD 3.27 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.7% from 2023 to 2030. The growing geriatric population, the ability of point-of-care (POC) diagnostic tests to deliver immediate results, thus providing improved patient care, and rising market penetration of electronic medical records (EMRs) are among the high-impact rendering drivers of this market. The shortage of skilled staff, especially in the field of diagnostics, is also expected to increase the market penetration of glucose POC diagnostic products.
The healthcare industry is emphasizing on shorter hospital stays, better acute care, and expansion of outlying surgical centers, which has consequently increased the demand for STAT testing. POC management solutions allow patients and healthcare providers to easily collect, share, and manage specimens to meet the regulatory requirements.North America dominated the global market in 2022. The regional market accounted for the largest share of over 40.3% of the overall revenue in the same year. It is expected to maintain its lead even during the forecast period. This region is home to several key market players, such as Abbott, Nova Biomedical, and Prodigy Diabetes Care, LLC. This has increased the availability of glucose testing products, thereby contributing to the revenue generation of the regional market. In addition, higher healthcare expenditure by governments on diabetes management is one of the factors responsible for the regional market growth.
Blood Glucose Monitoring Devices Market insights
The global blood glucose monitoring devices market generated over USD 12.53 billion revenue in 2022 and is projected to expand at a CAGR of around 8.1% during the forecast period to reach USD 23.15 billion by 2030. The key drivers of the market are the rising incidence of diabetes and the increasing geriatric population prone to diabetes. The market growth is further propelled by the increasing awareness regarding diabetes preventive care and new product launches. Diabetes is a serious and growing problem globally, where the inefficiency of the pancreas to produce insulin results in an increase in blood glucose levels. According to the International Diabetes Federation, in 2021, around 537 Million people were diagnosed with diabetes, this number is expected to increase to 643 Million by 2030 and 783 Million by 2045.
North America led the market with a revenue share of over 38.0% in 2022 owing to its well-established healthcare sector. The increasing prevalence of obesity, high cost of treatment, technological advancements, and new product launches are also expected to drive the regional market. Europe is expected to capture a significant revenue share over the forecast period due to an increase in the geriatric population, which is prone to diabetes. Moreover, improvements in the healthcare sector and the implementation of advanced medical products are augmenting the demand for BGMs in the region.
Asia Pacific is projected to be a lucrative region over the forecast period. Improvements in healthcare facilities and reimbursement policies in developing economies are key factors aiding the growth in this region. China spearheaded the APAC region in 2022 owing to its large diabetes population and rapid economic growth. Furthermore, an increase in awareness regarding diabetes preventive care is augmenting the market growth.
Order your copy of the Free Sample of “Blood Glucose Meters Industry Data Book - Point-of-care Glucose Testing Devices, Self-Monitoring & Continuous Blood Glucose Monitors Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Blood Glucose Meters Industry Data Book Competitive Landscape
Technological advancements: especially in case of biosensors, Bluetooth integration, & real-time alerts, and price competitiveness are two of the major strategies mostly focused on by the major market players. Each new product is designed to be easier to use by its antecedents and laced with connectivity. Increasing awareness of advanced diabetes management tools is among the top priority of market players.
Key players operating in the Blood Glucose Meters industry are –
• Abbott Laboratories• Medtronic plc• F. Hoffmann-La Roche Ltd• Ascensia Diabetes Care• Dexcom, Inc.• Sanofi• Novo Nordisk• Insulet Corporation• Ypsomed Holdings• Glysens Incorporated
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