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Global automotive lubricants market size was USD 70.25 billion in 2018 and is projected to reach USD 79.91 billion by 2026, exhibiting a CAGR of 1.58% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Automotive Lubricants market.

Trusted Business Insights presents an updated and Latest Study on Automotive Lubricants Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Automotive Lubricants market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Automotive Lubricants Market Size, Share & Industry Analysis, By Oil Type (Synthetic, Semi-synthetic, and Conventional or Mineral), By Product Type (Engine Oil, Gear Oil, Transmission Fluids, Coolant, and Brake Fluid & Greases), and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

The global automotive lubricants market size was USD 70.25 billion in 2018 and is projected to reach USD 79.91 billion by 2026, exhibiting a CAGR of 1.58% during the forecast period.

We have updated the Automotive Lubricants Market with business impact analysis and disruption caused by COVID-19.
Inquire before buying

Automotive Lubricants have a crucial role in the efficient operating and protection of a vehicle. Various automotive lubricants with varied source or base oil are available in the market amongst which mineral-based lubricants account for the lions share. However, the adoption and popularity of synthetic lubricants are rapidly increasing and revolutionizing the market. Innovation in lubricant technology has benefitted consumers in many aspects which include, extended oil drain and service intervals, better fuel efficiency, and more extended protection period.

MARKET TRENDS

Synthetic lubricants are the new market trend driving the overall market demand
Synthetic lubricants are nothing but mineral oils that have undergone extensive treatments to improve their performance characteristics and meet the demand of modern automobile technologies. Synthetic automotive lubricants were once considered to be premium products and had limited adoption. But, as the environmental concerns and engine technologies are evolving, the usage of synthetic lubricants is taking up pace.
Today, synthetic and semi-synthetic lubricants account for a healthy share in the market as compared to their shares a decade ago. Synthetic lubricants offer longer oil drain intervals (ODIs) than their counterpart mineral lubricants, which the consumer demand for hassle-free services. Moreover, other benefits of synthetic lubricants include improved fuel efficiency, enhanced hardware compatibility, and lower vehicle emissions. These factors together are boosting the adoption of synthetic lubricants in the automotive lubricants industry.

MARKET DRIVERS

High-Performance requirements in the Vehicles is driving the market demand
Automotive lubricants play a pivotal role in ensuring the proper and enhanced performance of consumer and industrial vehicles in diversified and extreme environmental conditions. For instance, tractor engine oils not only protect and ensures high performance of tractor in severe climate and field conditions but also facilitates better hardware compatibility of unwavering toughness and quality. These are formulated to support the proper functioning of a vehicle engine and system over-temperature ranging from -40 0C to above 250 0C. Further, these lubricants are also required to cope up with extreme pressures between 105 to 109 Pascal in the engine along with fuel contaminants such as soot and metal particles.

Extended lifetime and protection of the automotive systems are leading the automotive lubricants market demand
Keeping a vehicle on the road is one of the top priorities of the vehicle owners. This is where lubricants come into the picture. The automotive lubricants protect against wear & tear of various automotive components and systems of the vehicle by significantly reducing the friction between the parts and extend their life period. Further, as smaller and complex automotive systems are increasing their presence in the industry, the necessity of low viscosity and better-performing lubricants is continuously increasing. This is expected to support the innovation and development of high-quality lubricants in the upcoming years.

Moreover, OEMs and lawmakers are focusing on universal standardization of lubricant grades, and this is anticipated to provide impetus to the development of high-quality lubricants, particularly synthetic lubricants. The lubricant has to meet the performance level required for specific applications and those set by the competent authorities. For instance, some of the grades of diesel engine oil have to meet the standards such as API CI-4, SAE 15W-40, JASO DH-1, CH-4/SL, ACEA E7-08, SJ, Mack EO-M+, and numerous others. These lubricants also increase fuel efficiency and in turn reduce the green-house gas emission in a vehicle.

MARKET RESTRAINT

Innovation in vehicle Technologies is Dwindling the market
Automotive lubricants significantly boost the life span of a vehicle by reducing the friction between the solid moving parts and protecting them. But, as the lubricants and technologies get better day by day, the growth decreases considerably. Synthetic lubricants are increasing their footprint in the automotive industry due to several benefits offered by them, including better fuel efficiency. This has also extended the oil drain intervals in vehicles from once in 6 to 12 months to once in 18 to 24 months. A consumer finds these extended oil drain intervals comfortable and prefers high-quality lubricants to protect their vehicle. However, this has confined the market expansion in terms of volume and is expected to result in low volume growth over the forecast period. Further, the increasing sales of electric vehicles are expected to challenge the market growth in the upcoming years as these vehicles do not use engine oil.

SEGMENTATION

By Oil Type Analysis

Conventional Oil is Here to Stay
The conventional or mineral oil segment accounts for the lions share in the automotive lubricants market. Though the adoption and demand for synthetic lubricants is significantly rising, it is less likely to outward the market share of conventional oil over the forecast period due to relatively low prices of the conventional lubricants. Synthetic and semi-synthetic oil types have high adoption in developed regions such as North America and Europe as compared to developing regions of Asia-Pacific, Middle East & Africa and Latin America.

By Product Type Analysis

Engine Oil is poised to dominate the products segment
The engine is popularly known as the heart of a vehicle, and engine oil plays a crucial role in the proper functioning of the engine in an automobile. Engine oil helps in the proper functioning of the moving parts and also keeps the engine cool. Frequent changing of engine oil is a necessary task to improve the life span of the engine and avoid the buildup of sludge and contaminants in the engine.

As these contaminants can seriously damage the functioning of engine and vehicle or even lead to engine replacement, vehicle owners willingly change engine oils at regular intervals to avoid any haphazard and trouble. Thus, there is high adoption of engine oil as compared to other products, and it is expected to continue its dominance over the forecast period due to the high number of gasoline and diesel engines vehicles on the road.

Moreover, commercial and high-duty vehicles such as tractors, trucks and other similar automotive are less likely to get replaced by alternate vehicle technologies such as e-mobility, which will ensure healthy growth of the engine oil segment in the market.

REGIONAL ANALYSIS
Asia-Pacific leads the automotive lubricants market on the back of the high fleet of on-road vehicles in countries such as China, Japan, India, and South Korea. The consumption pattern of various automotive lubricants changes from country to country and region to region. For instance, the consumption of synthetic lubricants is high in South Korea as compared to India, and most of it is consumed in commercial and passenger vehicles. Whereas in India, commercial vehicles consume a high proportion of automotive lubricants followed by a two-wheeler segment, which accounts for around one-fourth of the total demand. China dominates the Asia-Pacific market on the back of the large automotive on-road fleet and increasing per capita lubricant consumption in the country.

Europe accounts for the second-largest share in the global market and has the second-largest per capita lubricant consumption in the world. The synthetic automotive lubricants segment is rapidly expanding in the region due to increased demand for high quality and efficient lubricants from the consumers. The knock-on effect of disruption caused by the rising sales of electric vehicles and the implementation of stringent environmental regulations on the automotive industry has suppressed the market growth in the region.

North America is also expected to follow a similar trend as of Europe. Commercial vehicles drive the consumption of automotive lubricants in North America.

Environmental regulations and growth of e-mobility in the region has hindered the market expansion and is likely to affect the market over the forecast period. Latin America market is dominated by Brazil and Mexico, accounting for over two-thirds of the revenue market. The region is currently recovering from economic slow-down and is also exposed to multiple political crises. This is expected to hamper the market growth over the foreseeable period.
The Middle East and Africa account for only a single-digit share in the global market. GCC countries, Turkey and Iran, dominate the demand in the region. The conventional or mineral oil segment dominates the region with over three-fourth of the market share due to low prices of base stock and low adoption & consumer awareness in the region. The political and economic crises in the region too is likely to restrict the market growth over the forecast period.

KEY INDUSTRY PLAYERS

Royal Dutch Shell PLC leads in the Highly Fragmented Automotive Lubricants Market
The automotive lubricant market is dominated by a few major base oil manufacturers and formulators such as Royal Dutch Shell, ExxonMobil, BP, and others. All of the major players operate in multiple lubricants market (such as industrial lubricants, metalworking fluids, automotive lubricants, and others) and have a diversified product portfolio to fulfill the needs of a variety of customers. Royal Dutch Shell has high base oil production & formulation capacity, strong global presence, and distribution network as compared to the rivals, that make it a market leader. However, many local players dominate the regional market. For instance, In India, State-owned company -Indian Oil markets its automotive lubricants under the brand name of SERVO and leads the market with a healthy share of over 25%.

LIST OF KEY COMPANIES PROFILED:

  • Royal Dutch Shell PLC
  • Exxon Mobil
  • BP p.l.c.
  • Chevron
  • Total
  • China National Petroleum Corporation
  • IDEMITSU KOSAN
  • SINOPEC
  • FUCHS PETROLUB SE
  • JXTG Nippon Oil & Energy Corporation
  • Valvoline LLC
  • Others

KEY INDUSTRY DEVELOPMENTS:

January 2019 – Royal Dutch Shell, a manufacturer of variety of chemicals, materials and oil & gas products headquartered in The Netherlands, announced a partnership with Mahindra & Mahindra (M&M), an automotive manufacturer in India and largest tractor manufacturer in the world, to offer high-performance lubricant products through Mahindra dealership network in India. M&M has endorsed shell automotive lubricants under the brand name of Maximize.

November 2019 – FUCHS, a key player operating in the global lubricants market headquartered in Germany, successfully acquired ZIMMARK INC., a Canada based company that offers value-added services in chemical process management and lubricants segment. With this acquisition, the company has successfully expanded its footprint in industrial lubricant services and strengthened its position in North America.

REPORT COVERAGE

The automotive Lubricants market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation

 Segmentation

By Oil Type

  • Synthetic
  • Semi-synthetic
  • Conventional

By Product Type

  • Engine Oil
  • Gear Oil
  • Transmission Fluids
  • Coolant
  • Brake Fluid & Greases

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, BENELUX, and Rest of Europe)
  • Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia- Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • The Middle East & Africa (South Africa, GCC, Turkey, Iran and Rest of Middle East & Africa)

 

Looking for more? Check out our repository for all available reports on Automotive Lubricants in related sectors.

Quick Read Table of Contents of this Report @ Automotive Lubricants Market Size, Share & Industry Analysis, By Oil Type (Synthetic, Semi-synthetic, and Conventional or Mineral), By Product Type (Engine Oil, Gear Oil, Transmission Fluids, Coolant, and Brake Fluid & Greases), and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

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Global conveyor systems market size which was valued at USD 5,008.4 Million in 2018 is projected to reach USD 7,169.0 Million by 2026, exhibiting a CAGR of 4.6% during the forecast period (2019 – 2026)

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Conveyor Systems market.

Trusted Business Insights presents an updated and Latest Study on Conveyor Systems Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Conveyor Systems market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Conveyor Systems Market Size, Share and Industry Analysis By Type (Roller Conveyors, Flat Belt Conveyors, Wheel Conveyors, Vertical Conveyors & Other), By Location (In-floor Conveyors, On-floor Conveyors & Overhead), By Load (Unit Load & Bulk Load), By Application (Food & Beverages, Pharmaceuticals, Supply chain & Logistics, Manufacturing, Mining & Others) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

The global conveyor systems market size which was valued at USD 5,008.4 Million in 2018 is projected to reach USD 7,169.0 Million by 2026, exhibiting a CAGR of 4.6% during the forecast period (2019 – 2026)

We have updated Conveyor Systems Market with respect to COVID-19 Impact.
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The global market is driven by handling the larger volume in the manufacturing & warehousing industries, as conveyor systems constitute a significant part of material handling systems. Conveyor systems are essential for continuous transport of items from one area to another in many commercial and industrial facilities, as it helps to reduce overall production time along with total labor costs significantly. Therefore, manufacturers in the global market are focusing on full automation of the material handling and movement in the conveyor systems industry to make the manufacturing process more smooth and continuous.

A market trend for conveyor systems was observed when Mr. Henry Ford launched his conveyor system in the market to maximize efficiency and save cost. Since then, the conveyor system has become a permanent foundation for mass – production, distribution of products, material handling in the industry. Furthermore, smart and innovative technologies are being incorporated in the conveyor system like the use of RFID and barcode technologies that facilitate in-line scanning as well as dimensioning are expanding the conveyor systems market growth. Also, these systems are integrated with automated printing and labeling stations, streamlining both processes into a continuous and systematic order in addition to the manufacturing processes.

In contradiction, conveyor systems are relatively complex in their design and construction owing to their large scales and integration into different factory processes. Nonetheless, the use cases of the systems with its advantages have made it voluntarily acceptable in the market. Besides, conveyor systems have benefited the industries by providing reduced damage while production, increased speed & accuracy of throughput & automated, adaptable, and modular platform.

“”E-commerce and Industry 4.0 are driving todays Material Handling boom””
E-commerce and industry 4.0 are transforming traditional supply chains, compelling the companies to change the way they move, track, and store material by using technology & automation, creating the need for conveyor systems. Manufacturers, wholesalers, retailers, and logistics companies are establishing fulfillment centers and utilizing all available warehouse space, which aids the global market rise. For instance, Industrial Kinetics is supplying a pair of a dual strand in-floor vehicle slat conveyors for a large vehicle manufacturer which will convey around 385 tons of vehicles, 250 tons of conveyor chains, and about 635 tons of materials. The conveyor systems market demand is because of the need for automating the complete manufacturing process.
MARKET SEGMENTATION

The global market is divided into four segments, i.e., by type, by location, by load & by the application. The segmentations provide an overall understanding of the global market structure. By type, flat belt conveyors have the highest share in the conveyor systems market. Flat belt conveyors are endless continuous belts that are being used to convey products or materials. These flat belt conveyors are made from various materials such as rubbers, plastics, fabric, metal & leather. These conveyors are used to convey different types of products via different belt types such as heavier loads require thicker & stronger belt. Other than flat belt conveyors roller conveyors also have substantial market share. Roller conveyor systems are of two kinds; gravity controlled & powered roller conveyors. Gravity controlled rollers are used to move products manually when placed horizontally whereas powered roller conveyors help to move materials using belts or rollers. Both the types of conveyor systems are used to move the products in a straight or curved structure based on the application in the industry.

By location, conveyor systems are segmented into three types that are in-floor, on-floor & overhead conveyors. Overhead conveyors are mounted on ceilings that use chains, cables, trolleys or similar connections to move products from one place to another. Overhead conveyor systems are used in the industries where products are required to be hanged such as paint lines, part handling systems, dry cleaning garment lines, or for cooling/ cleaning job in the assembly line. There are many types of overhead conveyors; electric track, monorail, trolley, etc. Mostly theses conveyors are powered and controlled or moved manually depending upon its application.

Conveyor systems are also classified by the types of loads that they convey like unit load & bulk load. These loads are carried depending on the material and physical state that is whether it is in solid-state, liquid, or gas with their packaging type. Unit loads are carried as a single item or multiple items that are organized so that they can be conveyed without disturbing their integrity.

Furthermore, conveyor systems are segmented by their applications in different industries such as food & beverages, pharmaceuticals, supply chain & logistics, manufacturing, mining & others. Conveyor systems share a significant part of the material handling process in the industries as it is involved in every industrial step. Additionally, increasing automation with a reduction in overall cost is the primary reason behind the continuous increase in the adoption of conveyors in all the industries, which augurs well for the conveyor systems market. Among the end-use industries supply chain & logistics industry is expected to exhibit the highest growth rate for the forecast period. Moreover, the variety in the application of the conveyor system is adopted by manufacturing industries such as automotive, retail, food & beverages, pharmaceuticals and other applications such as public infrastructure like an airport, etc. which are among the major driving factors for the global market.

REGIONAL ANALYSIS

Aisa-Pacific is expected to exhibit the highest CAGR in the global market for the forecast period. The growth in this region is anticipated to increase with the development in the end-use industries such as FMCG, automobile, airport & mining. India & China are the major contributors to the growth in the region and the global market ultimately, where China is home to numerous global, accompanied by provincial automotive manufacturers, for example, BYD Automotive, Geely, Dongfeng, Volkswagen, Ford Motor Co., and others. Furthermore, bulk material handling & storage systems are facilitating the management of large volumes of data, thereby reducing the unnecessary time consumption fueling the regional growth of the global market in the region.

The European market is valued at USD 924.3 Million in 2018, thereby emerging as a promising region for the global market. The region is witnessing growth with the adoption of automation in the manufacturing units along with increasing penetration of advanced technologies, such as IoT, RFID, and AI. Rising labor cost, along with infrastructure limitation, is expected to drive the conveyor systems market growth in the region.
Conveyor Systems Market Segments

The Middle East & Africa is also expected to have a moderate growth rate during the forecast period. The growth is owing to the increasing adoption of the conveyor systems in the warehouse & manufacturing facilities. This, coupled with the rising labor cost, is driving the market for conveyor systems in this region. These factors compel manufacturers to use sophisticated machinery and ensure high throughput quality in lesser time.
KEY PLAYERS
“”The conveyor systems consist of several well-established brands such as Daifuku Co., Ltd., Bastian Solutions, Dematic, Interroll Group, Durr along with several regional players.””
The established players in the conveyor systems market are aiming for the digital transformation by concentrating a significant part of the research and development budget on digital solutions for production. For instance, Durr, a company that provides automation & digitization/Industry 4.0. has built up a complete infrastructure for digital business at an early stage. Its backbone is formed by the ADAMOS platform for the Industrial Internet of Things (IIoT). It is comparable to the operating system of a computer and collects large volumes of production data. On the basis of ADAMOS, the company offers machinery operating with digital services and apps that allow them to optimize their production.
Moreover, the market appears to be extremely competitive and fragmented. International players are seen gradually intensifying their presence in the developing economies, making it tough for regional sellers to compete with them, especially in terms of quality, and price point. The global market is observing the increased competition, which is anticipated to surge further during the forecast period.

LIST OF THE KEY COMPANIES PROFILED

  • Daifuku Co., Ltd.
  • Continental Conveyor
  • Bastian Solutions, Inc.
  • Conveyor Systems Ltd
  • Dematic
  • Interroll (Schweiz) AG
  • Dürr AG
  • ATS Automation Tooling Systems Inc.
  • Toyota Industries Corporation
  • Invata Intralogistics
  • Taikisha Ltd.

REPORT COVERAGE
“”With the increasing demand for cost-effective material handling systems & automation in the supply chain logistics management, material handling, and movement from the warehouses & manufacturers have a substantial impact on the conveyor systems industry revenue.””

The report provides quantitative & qualitative insights into the global market and a thorough study of market growth rate & size for all likely segments in the market. The market has been segmented by type, location, load, application, and geography. By type, the market is classified into roller conveyors, flat belt conveyors, wheel conveyors, vertical conveyors & others. Based on the location, the global market is segmented into In-floor conveyors, on-floor conveyors & overhead. By Load, the market is segmented into unit load & bulk load. By application, the global market is segmented into food & beverages, pharmaceuticals, supply chain & logistics, manufacturing, mining & others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. These regions are further classified into countries.

Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape pertaining to the conveyor systems market. Various key insights provided in the report are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, Porters Five Forces Analysis and key industry trends.

Segemetation

By Type

  • Roller Conveyors
  • Flat Belt Conveyors
  • Wheel Conveyors
  • Vertical Conveyors
  • Other Conveyors

By Location

  • In-floor Conveyors
  • On-floor Conveyors
  • Overhead

By Load

  • Unit Load
  • Bulk Load

By Application

  • Food & Beverages
  • Pharmaceuticals
  • Supply chain & Logistics
  • Manufacturing
  • Mining
  • Others

By Region

  • North America (The U.S. and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
  • Latin America (Brazil, Mexico and Rest of Latin America)

INDUSTRY DEVELOPMENT:

June 2018: Tsubaki acquired Central Conveyor Company. Central Conveyor is a manufacturer of custom material handling systems, automated conveyance systems & storage/retrieval systems. This acquisition provides Tsubaki with access to blue-chip U.S. customers, particularly within the automotive industry.

June 2018: Capitalworks acquired C&M Conveyor. C&M Conveyor design & manufacture automatic conveying & material handling systems. The company specializes in the corrugated box industry.

 

Looking for more? Check out our repository for all available reports on Conveyor Systems in related sectors.

Quick Read Table of Contents of this Report @ Conveyor Systems Market Size, Share and Industry Analysis By Type (Roller Conveyors, Flat Belt Conveyors, Wheel Conveyors, Vertical Conveyors & Other), By Location (In-floor Conveyors, On-floor Conveyors & Overhead), By Load (Unit Load & Bulk Load), By Application (Food & Beverages, Pharmaceuticals, Supply chain & Logistics, Manufacturing, Mining & Others) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

Contacts

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Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
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Global industrial sewing machines market size was at USD 4.10 billion in 2018 and is projected to reach USD 5.63 billion by 2026, exhibiting a CAGR of 4.1% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Industrial Sewing Machines market.

Trusted Business Insights presents an updated and Latest Study on Industrial Sewing Machines Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Industrial Sewing Machines market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Industrial Sewing Machines Market Size, Share & Industry Analysis, By Product (Flat-Bed Sewing Machine, Cylinder-Bed Sewing Machine, Post-Bed Sewing Machines, Long-Arm Sewing Machine, Others), By Operation (Manual Sewing Machine, Automatic Sewing Machine, Computer Controlled Sewing Machine), By Application (Apparel and Non-Apparel), and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

The global industrial sewing machines market size was at USD 4.10 billion in 2018 and is projected to reach USD 5.63 billion by 2026, exhibiting a CAGR of 4.1% during the forecast period.

We have updated Industrial Sewing Machines Market with respect to COVID-19 Impact.
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Industrial sewing machines have widespread application including garments, car upholstery, sportswear, and others. Furthermore, increasing demand for high accuracy and speed in sewing is further expected to result in the growth of the industrial sewing machines market. Besides this, the growth in textile manufacturing owing to the increase in consumer spending power in the developing regions is also resulting in the industrial sewing machine market growth. For instance, the consumer spending in China increased from USD 45,568.3 in 2017 to USD 49,903 in 2018. In addition, technological advancements in the textile industry are expected to drive the textile manufacturing market which in turn will result in the growth of the sewing machine market demand. Personalized, value-added products are gaining popularity among consumers and hence, the increased demand for textile products is further likely to result in the sewing machines market growth.

The automotive and aviation industries use textiles for various applications such as nylon tire cord, seat belt webbing, airbags, car body covers, seat upholstery/fabric, automotive carpets, headliners, insulation felts (NVH components), sunvisors, helmets, airline disposables, webbings for aircraft, and aircraft upholstery. Moreover, rising demand for MobilTech textile as a result of increasing demand for electric vehicles is likely to drive the industrial sewing machine market trends. Various benefits of electric vehicles include noise mitigation, reduction of greenhouse gasses, and air quality improvement. Furthermore, the International Energy Agency (IEA) predicts that 125 million electric vehicles will be a part of the global electric vehicles fleet by 2030. Thus, expansion of the automotive sector is expected to result in the demand for sewing machines positively.
KEY MARKET DRIVERS
Increasing Demand for Technical Textiles to Drive the Industrial Sewing Machines Market
Technical textiles are functional fabrics, consisting of natural and synthetic fibers including Vinyon, Spandex, Saran, Nomex, Modal, and others. The multiple applications of these fibers in agriculture, construction, clothing, and other industries is resulting in the growth of the technical textile industry. The features of technical textile including high strength and superior insulation, high thermal resistance, and the elevated tendency is likely to result in growth of the textile market revenue. Besides, rising construction activities is seeking various functional textile products such as tarpaulins, scaffolding nets, roofing materials, and canopies. Furthermore, architectural membrane for new modern structures is gaining popularity. In addition, increasing adoption of fabric structures owing to their advantages such as sound insulation, lightweight, heat insulation, and hydrophobic properties is expected to drive this market in the near future. The upsurge in government initiatives to promote construction industry growth is resulting in the increased demand for technical textiles. For instance, the Government of India has formed an Affordable Housing Fund in the National Housing Bank with an investment of USD 1.43 billion for micro-financing of the Housing Finance Corporation (HFC). Further, in 2018, the National Urban Housing Fund was approved by the Government of India.

Increasing Adoption of Industry 4.0 Solutions to Propel the Market
Increasing adoption of automation among manufacturers is likely to result in the increased demand for innovative machines. Integration of various technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and 3D printing are changing the nature of enterprise value chain. Industry 4.0 has multiple advantages such as efficient mass production, reduced downtime, lower operational costs, and others. Rising need for real-time data and analysis from IoT devices and sensors for remote monitoring is gaining popularity among manufacturers. 3D printing is already being experimented with by manufacturers to cater to the customized requirements from the customers, prompting textile manufacturers to focus on mass personalization. For instance, in 2017, Amazon filed a patent for an automated on-demand clothing factory. This factory is specially designed to process personalized orders and is expected to provide high efficiency and productivity.

SEGMENTATION
By Product Analysis

Flat-bed Sewing Machine Dominates the Industrial Sewing Machine Market
By product, the market is segmented into the flat-bed sewing machine, cylinder-bed sewing machine, post-bed sewing machine, long-arm sewing machine, and others.
The flat-bed sewing machine has significantly contributed to the growth of the sewing machines market. It is similar to the traditional sewing machine and is typically used to sew flat pieces of fabric together. Flat-bed sewing machines are commonly used owing to their widespread applications in making garments, shoe uppers, leather clothing, leather goods, technical textiles, automotive industry, medium, and other heavy-duty applications. Post-bed sewing machines and cylinder-bed sewing machines are used for three-dimensional sewing items for non-apparels such as hats, bags, boots, purses and in apparel, they are used for sleeve cuffs, swimwear, belt, carpets, and mats. Long-arm sewing machines are especially applicable for huge loads of work requirements.

By Operation Analysis

Computer-Controlled Sewing Machines to Propel the Industrial Sewing Machine Market

Based on operation, the market is segmented into the manual sewing machine, automatic sewing machine, and computer-controlled sewing machine.
Increasing automation in industries is likely to drive the adoption of computer-controlled sewing machines. Additionally, the benefits offered by computer-controlled sewing machine such as connectivity increased productivity, time and cost efficiency, reduction in power consumption, and high speed is resulting in the growth of computer-controlled sewing machines. Furthermore, these machines efficiently practice different types of stitches by downloading various programs from the internet. Thus, manufacturers are seeking to develop computer-controlled sewing machines.

For instance, Singer developed the Quantum Stylist 9960 sewing machine which features up to 600 stitches including letters for any fabric, consistent buttonholes with 13 one-step buttonhole styles, and an easy-to-use interface. The automatic sewing machine comes with certain built-in programs specially designed to perform specific tasks. For instance, JUKI offers AP-876, an automatic pocket setter. This machine automatizes series of pocket processes including placement of the pocket on the garment, folding the pocket, stacking, bartacking, and sewing. The manual sewing machine has high penetration in the market owing to the cost-effectiveness of the machines. However, the increasing adoption of automation in the industry is expected to impact the manual machines revenue over the forecast period.

By Application Analysis

Increasing Demand for Non-Apparel to Propel Market

Based on application, the market is divided into apparel and non-apparel.
The apparel segment holds the major market share and is expected to remain dominant over the forecast period. This is attributed to the growing demand for apparels from the fashion-conscious urban population. Moreover, the non-apparel segment is expected to be witness significant growth owing to the increasing demand from various sectors including automotive, healthcare, construction, and others. The non-apparels segment consists of sewing machines used for various goods including bags, purses, belts, car-seat covers, sofas, etc. Increasing demand for home décor owing to the changing lifestyle of consumers is expected to drive the non-apparel sewing segment.

REGIONAL ANALYSIS

Based on region, the market is segmented into the five regions of North America, Europe, Asia- Pacific, the Middle East & Africa, and Latin America, which are further drilled down into countries.
Asia Pacific Industrial Sewing Machines Market Share, 2018 (USD Billion)

Asia-Pacific is expected to lead the industrial sewing machines market share over the forecast period owing to the increasing demand for these machines from various industries including garments, personal luxury goods, automotive, and construction. Growing government initiatives to promote the textile sector in developing nations is expected to drive the industrial sewing machinery market revenue. For instance, as requested by the Clothing Manufacturers Association of India, the Government of India reduced tax on cutting, knitting, embroidery, and weaving down to 5% from 18% in 2019. Increasing demand for in-house textile manufacturing is expected to drive the industrial sewing machine market in North America. Europe is expected to significantly contribute to the growth of industrial sewing machines market owing to the increasing demand from the textile industry. According to the European Commission, the textile and clothing industry of Europe accounted for more than USD 183.73 billion in 2019. The Middle East & Africa is promoting textile manufacturers. For instance, the Fujairah, located in UAE is a free zone where companies located there are not required to pay taxes or repatriation fees. Latin America is expected to contribute to the market growth positively as a result of increased demand for high-functioning sewing machine.

INDUSTRY KEY PLAYERS
Leading Players to Focus on Structural Reforms
Key players are focusing on organizational reforms to improve sewing machine sales. The JUKI company reduced the fixed cost in their electronic assembly systems business division and hence improved their sales significantly. Furthermore, the players are focusing on smart factory development through expanding their value-added devices such as new-mounters, labor-saving equipment, and others.

List of Key Companies Profiled:

  • JUKI Corporation
  • Brother Industries, Ltd.
  • PEGASUS SEWING MACHINE MFG. CO. Ltd.
  • Singer Sewing Company
  • PFAFF Industriesysteme und Maschinen GmbH
  • JACK Sewing Machine Co. Ltd.
  • Janome America, Inc.
  • Husqvarna AB.
  • Shang Gong Group Co., Ltd.
  • Bernina International AG

REPORT COVERAGE

The industrial sewing machines market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product type, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the global industrial sewing machine market over recent years.

Report Scope and Segmentation

Segmentation

By Product

  • Flat-Bed Sewing Machine
  • Cylinder-Bed sewing Machine
  • Post-Bed Sewing Machines
  • Long-Arm Sewing Machine
  • Others (Heavy machines and others)

By Operation

Manual Sewing Machine
Automatic Sewing Machine
Computer Controlled Sewing Machine

By Application

  • Apparel
  • Non-Apparel

By Region

  • North America (the U.S. and Canada)
  • Europe (Germany, UK, France, and the Rest of Europe)
  • Asia-Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia-Pacific)
  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
  • Latin America (Brazil, Mexico, and the Rest of Latin America)

INDUSTRY DEVELOPMENTs:

January 2020: The JUKI Corporation announced the merger of its subsidiaries JUKI Industrial Co., Ltd. and JUKI Precision Co., Ltd. This is expected to streamline the organizations” operations and improve productivity.

July 2019: JUKI Corporation and YKK Corporation jointly developed AiryString, a dedicated sewing machine that attaches zipper to the cloth.

 

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Quick Read Table of Contents of this Report @ Industrial Sewing Machines Market Size, Share & Industry Analysis, By Product (Flat-Bed Sewing Machine, Cylinder-Bed Sewing Machine, Post-Bed Sewing Machines, Long-Arm Sewing Machine, Others), By Operation (Manual Sewing Machine, Automatic Sewing Machine, Computer Controlled Sewing Machine), By Application (Apparel and Non-Apparel), and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

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Analysis Forecast Market Price Analysis Market Reports Market Size Market Study

Global infant formula market size was valued at USD 45.12 Billion in 2018 is projected to reach USD 103.75 Billion by 2026, exhibiting a CAGR of 10.85% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Infant Formula market.

Trusted Business Insights presents an updated and Latest Study on Infant Formula Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Infant Formula market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Infant Formula Market Size, Share & Industry Analysis, By Type (Infant Milk, Follow-on-Milk, Others), Distribution Channel (Hypermarkets/ Supermarkets, Pharmacy/Medical Stores, Specialty Stores, Others), and Regional Forecast 2020-2029 (Includes COVID-19 Business Impact)

The global infant formula market size was valued at USD 45.12 Billion in 2018 is projected to reach USD 103.75 Billion by 2026, exhibiting a CAGR of 10.85% during the forecast period.

We have updated the Infant Formula Market with business impact analysis and disruption caused by COVID-19.
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Infant formulae are the specially designed formulations for utilization among consumers who are preferably below one year of age. These products are generally regulated in a stringent manner given the target group. The demand for infant formula or infant nutrition products is growing across the world due to rising awareness of their benefits and nutritional values which is developed in a way to mimic breast milk. Premiumization, change in ingredients mix and packaging innovation coupled with effectively communicated information about the product offerings are expected to benefit the long term growth of infant formulae in the world.
The future growth in the global infant milk formula market hinges on the combination of scientifically-validated and well-researched ingredients as well as the packaging. The innovation in the product must closely replicate breast milk in its composition to the best possible extent. Parents are looking for differentiation in the infant formula, which is encouraging the manufacturers to introduce premiumization and value addition to the product, such as different ingredients, different animal milk, packaging, flavoring, and other loaded nutrients which makes the product premium in the market.

The modernization and evolving lifestyles of the consumers are also driving the infant formula market growth. The convenience of the product along with compositional enhancement is propelling the demand among the parents.
The U.S. infant formula market was valued at USD 2.66 billion in 2018 and is expected to reach USD 5.07 billion by 2026, exhibiting a CAGR of 8.30% during the forecast period.
The U.S. market is exhibiting a change in terms of robust demands for value-added infant formula having recognizable ingredients, safety and regulations, and traceability. The country accounts for one of the largest markets outside the European Union (EU) and China. The regional market remains crucial for the manufacturers to strategize their offerings by getting the pulse of the developed market scenario.

MARKET DRIVERS

Favorable Population Dynamics is Fueling the Sales Growth of Infants Formulae
The global market is primarily driven by promising demand dynamics such as fertility rates, suboptimal breastfeeding rates indicating the early dependence on the breast milk substitute. The infant formula is becoming beneficial and important nutrition for the babies and infants, due to its attractive baby health properties, such as gut system improvement, growth, and other such disorders.

According to the World Bank Data, the global fertility rate (total births per woman) in 2017 stood at 2.426 from 2.507 in 2010 registering a compounded decline of 3.2% points over the last six years. Despite an overall drop in the number of children, the current world population is estimated at around 7.7 billion with a growth rate of 1.05% projected for the next year (2020) which is an indicative of constructive growth in the sales of infant formulae.
Growing Focus on Infant Care and Nutrition to Drive the Market

The growing attention and focus on the nutritional need of infant formula are the other major factors driving the infant formula market share across the globe. The increase in the number of working females and mothers, coupled with the substantial rise in their discretionary spending patterns, has boosted the sales of baby nutrition products.
According to the Global Breastfeeding Scorecard, 2019 by the World Health Organization, and the United Nations

Childrens Fund (UNICEF), the current rate of breastfeeding remains suboptimal as compared to the standard recommendations across the world. The increasing cases of lactation, medication, lack of support and qualified lactation experts, unsupportive work policies, and cultural norms are some of the attributing factors that boost-up the infant formula consumption. There are many cases across the world, where mothers voluntarily prefer infant formula instead of breastfeeding to their children, thus relying exclusively on a plethora of infant formulae available in the market. Manufacturers of infant formula are thus improvising and innovating their formulations to closely mimic the breast milk composition.

SEGMENTATION

By Type Analysis

Infant Milk Formula to witness greater innovation in terms of ingredient formulations and packaging modifications

The infant milk formula segment has witnessed strong value-based sales and it is one of the leading category in the emerging economies, owing to the lack of acceptable alternatives in the market. Launch of convenient and nutrient-dense products is also low in this market, which is encouraging the manufacturers to develop and bring forth, a plethora infant formulae products in the market. The rising consumers prosperity towards their infants and baby milk enables them to afford diverse range of infant milk formula products available in the market.
The infant milk formula space has evolved majorly on the product differentiation, there is a growing trend of the medicalization of infant milk formula with label claims that address general conditions in infants and children like indigestion, constipation, etc. The product differentiation is also manifested in the inclusion of ingredients that are acceptable among conscious consumers such as 100% lactose, organic, GMO-free, palm-oil free, etc.
By Distribution Channel Analysis

Hypermarkets/Supermarkets are one of the leading sales channels for infant formula -Specialty stores to gain greater sales traction in coming years

The infant formula market has witnessed a rapid demand across supermarkets/hypermarkets channels. Such mass merchandisers offer an enhanced convenience, separate baby sections, bundling offers, schemes, and convenient shopping experience to buyers under a single roof along with all the home groceries. The safety and autonomy regarding the choice of the products are offered by the supermarkets/hypermarkets to the consumers along with the home delivery facilities.

Apart from the safety and convenience factor, the consumer prefers and enjoys the shopping experience due to several social activities arranged by the management and enticing environment in the shopping place. Moreover, such distribution channels are expected to act as one-stop-for-all regarding infant formula.

Specialty stores are the other rapidly growing distribution channels, as the store provides a wide range of baby foods, specialized infant formulae, breast milk substitutes along with other baby care products at a single platform. The convenient way of shopping with a diverse product portfolio are enticing consumers to purchase from specialty stores. Most of the consumer prefers to buy infant formula under the guidance of infant formula specialist and experienced in nutrition that are present in such specialized stores.

REGIONAL ANALYSIS

China is the largest and fastest-growing market for infant formula products in the world. The China infant market is projected to register a CAGR of 11.30% during the forecast period (2019-2026). The infant formula market trends is majorly driven by the strong demands emerging from favorable birth rates among the elimination of the one-child policy.

The strong motivation provided to the domestic industry and the greater dependency on imports among rising demand for higher, quality, and premium products have also propelled the growth of the market. China is likely to be the major production hub for infant formula products in the world. This is mainly on account of the high dependence on the imports of infant formula products and rapid consolidation of the domestic industry.
Europe Infant Formula Market Size, 2018

The market in the U.S. is expected to play a radical role in influencing the purchasing patterns and variety of different infant formula products across the globe. The Women, Infants, and Children (WIC) programme controlled by the United States has made a significant uptick in the wholesale price of the infant formula in the country. Consumers who were not able to purchase infant formula due to high prices of infant formula products are now able to get such infant products under such welfare schemes of the government. Manufacturers are also encouraged to produce the required quantity of the infant formula for the government and for individuals in the country.

INDUSTRY KEY PLAYERS

Market players such as Nestle S.A., Danone SA, and Abbott to strengthen the market position with respect to serving infant formula products in the market

Nestle S.A. is actively and intensively focusing on the new product development in the baby food and infant formula category among their diverse product portfolio. The company has a strong global presence in the world, which holds 22% of the global market share in infant formula segment in 2018. Innovations and expansion of business are the key strategies adopted by the company to compete in this competitive landscape.

Danone SA also has a strong global presence in the market. The company also holds a major market share in the global infant formula market demand followed by the Nestle S.A. The company is focusing on the expansion of the e-commerce platform network across the globe. Mergers and acquisitions are one of the key strategies of the company to survive globally. Itis also expanding and modifying its facilities and equipment to increase its production capacity along with the safety standards of the infant formula products.

List Of Key Companies Profiled

  • Nestle S.A.
  • Danone SA
  • Abbott
  • Arla Foods amba
  • Yili Group
  • The Kraft Heinz Company
  • Bellamy”s Organic
  • Perrigo Company plc
  • Reckitt Benckiser Group plc.
  • Royal FrieslandCampina N.V.

REPORT COVERAGE

The overview of the infant formula market growth across the world with the perceivable and justified benefits and the essential role of the infant formula in the baby feeding and infants nutritional diet indicates a significant growth of the global market. The consumption of infant formula is majorly growing across Asian countries, such as Japan, China, and India. However, the global market in the European Union is expected to be the next major hotspot in the years to come.

The report provides qualitative and quantitative insights on the market and detailed analysis of infant formula market size and growth rate for all possible segments in the market.

Along with this, the report provides an elaborative analysis of this market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global infant formula market, such as mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key retail industry trends, competitive landscape, and company profiles.

Report Scope & Segmentation

 Segmentation

By Type

  • Infant Milk
  • Follow-on-Milk
  • Others

By Distribution Channel

  • Hypermarkets/Supermarkets
  • Pharmacy/Medical Stores
  • Specialty Stores
  • Others

By Geography

  • U.S.
  • China
  • Japan
  • Australia
  • EU
  • Rest of the World

INDUSTRY DEVELOPMENTS

In August 2019, Danone Nutricia- a Brand of Danone SA has launched a new infant formula, Karicare Toddler with the new product innovation made with pure New Zealand sheep milk in New Zealand.

In January 2019, Arla Foods Ingredients, a subsidiary of Arla Foods amba, has launched an optimized comfort concept for easy digest whey protein infant formula.

In October 2018, Nestle S.A. has launched new infant formula- A2 Baby Formula, a premium starter infant formula, to expand its baby product range in the Australian market.

In May 2018, Nestle S.A. has announced its launch of its new childrens nutrition program, which is aimed to reformulate and develop the companys products in order to make them more nutritious. The company has also initiated a campaign- Nestle for Healthier Kids globally, to provide nutritional advice for kids to parents and families.
The company, Abbott is focusing on utilizing natural and organic ingredients in infant formula manufacturing, to create more nutritious baby foods in the market and to meet consumer”s demand for organic products in 2018.

 

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Quick Read Table of Contents of this Report @ Infant Formula Market Size, Share & Industry Analysis, By Type (Infant Milk, Follow-on-Milk, Others), Distribution Channel (Hypermarkets/ Supermarkets, Pharmacy/Medical Stores, Specialty Stores, Others), and Regional Forecast 2020-2029 (Includes COVID-19 Business Impact)

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Global assisted reproductive technology (ART) market size was USD 21.32 billion in 2018 and is projected to reach USD 45.06 billion by 2026, exhibiting a CAGR of 9.8% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Assisted Reproductive Technology (ART) market.

Trusted Business Insights presents an updated and Latest Study on Assisted Reproductive Technology (ART) Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Assisted Reproductive Technology (ART) market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Assisted Reproductive Technology (ART) Market Size, Share & Industry Analysis, By Technique (In-Vitro Fertilization (IVF), Artificial Insemination (AI-IUI), Frozen Embryo Transfer (FET), and Others), By Procedure (Fresh Donor, Fresh Non-donor, Frozen Donor, and Frozen Non-donor), By End User (Fertility Clinics, and Hospitals) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

The global assisted reproductive technology (ART) market size was USD 21.32 billion in 2018 and is projected to reach USD 45.06 billion by 2026, exhibiting a CAGR of 9.8% during the forecast period.

We have updated Assisted Reproductive Technology (ART) Market with respect to COVID-19 Impact.
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Assisted reproductive technologies, also known as assisted reproductive treatment refer to the techniques that are used to treat infertility. These treatments cover a wide spectrum of procedures depending upon the cause of infertility. Techniques that are frequently used to treat such conditions include, in-vitro fertilization (IVF), artificial insemination (AI-IUI), frozen embryo transfer (FET), and gamete intrafallopian transfer (GIFT). Assisted reproductive technologies involve procedures in which both eggs and embryos are handled and do not comprise of a therapy which only uses pills.
The demand for assisted reproductive technology is being driven by multiple factors, such as increasing prevalence of infertility owing to changing lifestyle, rising stress level among general population, and increasing government initiatives to support fertility services. Furthermore, introduction to advanced assisted reproductive technologies, such as intracytoplasmic sperm injection (ICSI), intrauterine insemination (IUI), GIFT, and frozen embryo transfer (FET), supported by strong clinical results, are propelling the fertility services market growth.

However, the high cost associated with the treatment and socio-ethical stigma regarding the procedures are some of the major factors limiting the adoption of these technologies in the global market. For instance, according to the World Health Organization (WHO), most women in the emerging countries cannot afford infertiliy services due to its high cost.
MARKET DRIVERS

Rising Prevalence of Infertility Globally is Accelerating the Growth of Market
Increasing prevalence of infertility, especially in countries, such as China, the U.S., the U.K., and India is expected to fuel the demand of ART. According to a data published by the National Survey of Family Growth (NSFG), in 2018, around 6.7% of women aged between 15 to 44 years were suffering from infertility in the U.S. Additionally, there is a higher prevalence of infertility among the male population globally, which is projected to further fuel the growth of the fertility services market. For instance, according to a data published in the Oxford Journals, one in ten men in the U.K., aged between 16 years to 74 years, has experienced infertility. The shift towards sedentary lifestyle, rising stress level, and obesity among general population are some of the major factors responsible for the increasing prevalence of infertility. Thus, it is expected to propel the demand for ART technologies worldwide. Also, various governments and non-profit organizations in the developed and emerging countries are actively involved in supporting the general population with an aim to provide fertility treatments at affordable costs. Hence, such initiatives are anticipated to drive the assisted reproductive technology market growth during the forecast period.

SEGMENTATION

By Technique Outlook

In Vitro Fertilization Segment to Dominate: Persistent Advancements Will Favor Growth

Among techniques, in vitro fertilization (IVF) segment dominated the ART market in 2018 owing to its high procedural success rate and continuous advancements that satisfy the demand of patients. For instance, earlier, sperms were injected to elevate the success rate of IVF. But nowdays, time lapse imaging system is used by which, an image of the egg division is obtained. Hence, introduction to such advanced technologies in the IVF treatment are some of the ART market trends projected to fuel the adoption of fertility services during the forecast period.
On the other hand, frozen embryo transfer (FET) accounted for the second largest assisted reproductive technology market share, owing to the increasing prevalence of infertility worldwide and demand for high success rate. This procedure provide an opportunity to the patient to try again after an unsuccessful fresh IVF cycle and is comparatively low cost. It also eliminates a few steps of fresh IVF which provides faster results to the patients.

The others segment includes techniques, namely, gamete intrafallopian transfer (GIFT) and zygote intrafallopian transfer (ZIFT). GIFT is an assisted reproductive procedure which involves removing a womans eggs, mixing it with sperm, and placing it directly into the fallopian tube. Whereas, in ZIFT, the fertilized embryo is transferred into the uterus. Both these procedures are proved to be effective in many cases and are thus, anticipated to increase the demand for assisted reproductive technologies during the foreacast period.

By Procedure Outlook

Fresh Non-donor Segment to Grow Stoked by High Success Rate Procedures
In terms of procedure, fertility services market can be segmented into fresh donor, fresh non-donor, frozen donor, and frozen non-donor. The fresh non-donor segment is projected to register a high CAGR during the forecast period. Globally, the increasing prevalence of infertility, combined with the high success rate of procedures using fresh eggs or embryos, are factors attributing to the dominance of this segment. For instance, according to a study conducted in 2017 and published in the Oxford Journals, out of all the fertility cycles, an estimated 19.0% would result in live birth if the used egg is never frozen.

However, the frozen non-donor segment holds the second position in the procedure segment owing to its low cost as compared to the cycles that use fresh eggs or embryos. The other segments included in the procedures are fresh donor and frozen donor which is expected to grow at a significant CAGR during the forecast period.

By End User Outlook

Fertility Clinics Held the Highest Share Among End User Segment in 2018
On the basis of end user, the assisted reproductive technology market can be segmented into fertility clinics and hospitals. The fertility clinics segment is anticipated to have a dominant ART market share during the forecast period. The dominance is attributed to an increasing number of procedures and the presence of doctors who are specialized in assisted reproductive technologies. The segment is also projected to grow at a faster pace in the forecast period owing to the increasing number of registered fertility clinics in the emerging countries, such as China, Japan, and India.
On the other hand, hospitals accounted for a comparatively lower share of the market in 2018. Decreased adoption of technologically advanced techniques and systems by these settings, along with inadequate services for patients are some of the major factors leading to moderate growth of this segment in the global ART market.

REGIONAL ANALYSIS

Europe generated USD 8.78 billion ART market revenue in 2018 and is anticipated to emerge dominant in the assisted reproductive technology (ART) market during the forecast period. The increasing prevalence of infertility with higher demand for ART procedures are the major factors responsible for the dominance of this region in the global fertility services market. Countries, namely, Spain, Denmark, the U.K, Germany, and France are the most active nations for fertility services in Europe and are anticipated to boost the growth of the market. For instance, according to the European Society of Human Reproduction and Embryology, in Spain, every year 140,909 ART treatment cycles are performed.
Europe Assisted Reproductive Technologies (ART) Market Size, 2018

North America is anticipated to regester a significant CAGR during the forecast period. For instance, according to a report released by the U.S Society of Assisted Reproductive Technology (SART), an estimated 1 million babies were born in the U.S. between 1987 and 2015 through the use of IVF or other ART technologies. Thus, the increasing adoption of fertility services among the patients in the U.S. is anticipated to drive the growth of the assisted reproductive technologies (ART) market. Besides, the increasing disposable income and higher utilization of technologically advanced services are expected to fuel the adoption of fertility services in this region during the forecast period.
Asia Pacific, on the other hand, is projected to register a higher CAGR by the end of 2026 owing to the rapidly increasing prevalence of infertility and reduced socio-ethical stigma among the population. For instance, according to the World Health Organization (WHO), the overall prevalence of primary infertility in India is estimated to be in between 3.9% to 16.8%. Also, the emerging market in some countries, such as China, Australia, and Japan is expected to contribute to the growth of Asia Pacific. Latin America and the Middle East & Africa are also anticipated to witness a moderate CAGR during the forecast period owing to the developing health care infrastructure and increasing prevalence of infertility.

INDUSTRY KEY PLAYERS

Bloom IVF Centre, European Sperm Bank, and Others Focus on Offering Cost-effective Products
Players, namely, Bloom IVF Centre, European Sperm Bank, and California Cryobank are the leading providers of fertility services globally. The presence of strong and diversified services portfolio, along with a wide operating network are few of the primary factors attributed to the dominance of these players in the global market. Along with the strong portfolio and network, the key players are also emphasizing on providing technologically advanced and cost efficient range of ART in the market. For instance, in January 2018, Apollo Hospital group launched its first fully dedicated fertility centre in Chennai, India.  Such initiatives by the players are projected to drive the growth of fertility services market in the emerging countries during the forecast period. Other players engaged in the assisted reproductive technologies market are Monash IVF Group, Carolinas Fertility Institute and INVO Bioscience.

LIST OF KEY COMPANIES COVERED:

  • Bloom IVF Centre
  • California Cryobank
  • CARE Fertility
  • Monash IVF Group
  • Carolinas Fertility Institute
  • European Sperm Bank
  • INVO Bioscience
  • Apollo Hospitals Enterprise Ltd.
  • Other Players

REPORT COVERAGE

The report provides detailed information regarding various insights of the market. Some of them are growth drivers, restraints, regional analysis, and challenges. It further offers an analytical depiction of the assisted reproductive technologies (ART) market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.

Report Scope & Segmentation

 Segmentation

By Technique

  • In Vitro Fertilization (IVF)
  • Artificaial Insemination (AI-IUI)
  • Frozen Embryo Transfer (FET)
  • Others

By Procedure

  • Fresh Donor
  • Fresh Non-donor
  • Frozen Donor
  • Frozen Non-donor

By End User

  • Hospitals
  • Fertility Clinics

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

INDUSTRY DEVELOPMENT:

August 2018: GI Partners acquired California Cryobank (CCB) and Cord Blood Registry (CBR) with an aim to become a leading player of the stem cell storage and reproductive tissue services markets.

April 2019: Silverfleet Capital Partners acquired a major stake of CARE Fertility with an aim to diversify its product portfolio and strengthen its market position.

July 2019: Monash IVF Group acquired Fertility Solutions, a Queensland based provider of fertility services in order to increase its global presence.

 

Looking for more? Check out our repository for all available reports on Assisted Reproductive Technology (ART) in related sectors.

Quick Read Table of Contents of this Report @ Assisted Reproductive Technology (ART) Market Size, Share & Industry Analysis, By Technique (In-Vitro Fertilization (IVF), Artificial Insemination (AI-IUI), Frozen Embryo Transfer (FET), and Others), By Procedure (Fresh Donor, Fresh Non-donor, Frozen Donor, and Frozen Non-donor), By End User (Fertility Clinics, and Hospitals) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

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Global commercial air conditioner (AC) market volume was 14 million units in 2018 and is projected to reach 19.4 million units by 2026, exhibiting a CAGR of 4.3% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Commercial Air Conditioner (AC) market.

Trusted Business Insights presents an updated and Latest Study on Commercial Air Conditioner (AC) Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Commercial Air Conditioner (AC) market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Commercial Air Conditioner (AC) Market Size, Share & Industry Analysis, By Type (Packaged Air Conditioners, VRF/VRV), By Refrigerants (R-32, A-410A/R-407C, R600A/R-290, Others), By End-User (Healthcare, Educational/Institutional, Public/ Government, Retail, Hospitality, Manufacturing) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

The global commercial air conditioner (AC) market volume was 14 million units in 2018 and is projected to reach 19.4 million units by 2026, exhibiting a CAGR of 4.3% during the forecast period.

We have updated Commercial Air Conditioner (AC) Market with respect to COVID-19 Impact.
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The commercial air conditioning market is likely to grow significantly in the upcoming years due to improving economic conditions, rising per capita income, and increasing pollution levels. Moreover, major manufacturers are focusing on producing refrigerants, which cause minimum pollution and are also effective.
The commercial AC market has shown significant growth over the decades and is expected to grow moderately in the coming future owing to saturation in the developed countries. The rising construction of green buildings is one of the latest trends that will contribute to the growth of this market in the coming years. Also, the growing data center will be one of the major commercial HVAC market drivers. Data center comprises of highly sensitive electronic components wherein temperature, humidity, airflow, and cleanliness should be maintained to avoid equipment failures.

Therefore, the growing demand for commercial air conditioners in multiple end-use applications such as healthcare, hospitality, etc. is expected to drive the market in the coming years. Furthermore, the highest market share is expected to be witnessed by North America followed by Asia Pacific.

MARKET DRIVERS

Increased Spending on Infrastructure Globally is expected to positively impact the market
The increased spending of government and private players on infrastructure globally is expected to create huge demand for commercial air conditioners. The expanding number of commercial buildings that have air conditioners installed, would result in the growth of commercial air conditioners throughout the forecast period 2019-2026. Major players such as Daikin Industries are expanding across the globe by setting up new plants in Brazil, Argentina, etc.

In 2018, the developing countries such as Vietnam, Myanmar, Indonesia, etc. have announced to increase their investment heavily of infrastructure and commercial buildings and also double the urbanization rate by 2023.

Furthermore, an increase in the economy & population, development of urban infrastructure and high temperatures in countries such as Bangladesh, Brazil, Ghana, India, Indonesia, Kenya and Vietnam, etc. have also become an essential factor the growth of commercial air conditioner market across the globe.
Introduction of Energy-Efficient Smart Air Conditioners is Expected to Increase Demand for Commercial Air Conditioners
The introduction of energy-efficient smart commercial AC has resulted in more air conditioner demand with less air pollution or ozone depletion caused. Also, the rising numbers of smart homes and commercial spaces globally have fueled the demand for smart commercial air conditioners with new inverter technology and environment-friendly solutions.
An increase in demand for smart ACs is expected to be observed in all sectors due to lesser energy consumption. Similarly, government regulations on refrigerants are forcing the manufacturers to develop energy-efficient and eco-friendly products by completely phasing out CFCS and replacing HCFCs by HFC and other refrigerants in the forecast period 2019-2026.

SEGMENTATION
By Type Analysis

The Packaged Air Conditioners Segment is Expected to Generate the Highest Revenue in the Forecast Period
The commercial air conditioners market has been categorized into packaged air conditioners and VRF/VRV air conditioners on the basis of type.

The packaged air conditioners are expected to generate the highest revenue during the forecast period owing to increasing rates of construction of mall, offices, and industries. However, the VRF/VRV Air Conditioners, which are gaining popularity at a rapid pace is expected to grow at the highest CAGR or have maximum growth during the forecast period. The VRF/VRV air conditioner type is expected to grow at a CAGR of 6.4% during the forecast period.
Furthermore, the VRF/VRV systems are very quiet and energy-efficient as its compressor runs only at the capacity needed at that current condition. It also offers features such as heat and cool simultaneously, less downtime, less space, modern controls etc. Owing to the many features provided by VRF/VRV air conditioners, its demand and growth is expected to be higher than the packaged AC throughout the world.

By Refrigerant Type Analysis

R-410A/R-407C Refrigerant is Expected to Dominate the Market During the Forecast Period
The commercial air conditioner market has been segmented into R32, R-410A/R-407C, R-600A/ R-290, Others (R-22, etc.) on the basis of refrigerants used.

The replacement of toxic or ozone-depleting refrigerants such as banning of R-22 refrigerant and shifting towards R-32 refrigerant from R-410A considering R-32 a very less toxic gas for environment is expected to drive growth for commercial AC market over the forecast period. The R-32 refrigerant, owing to be less ozone-depleting is expected to grow at the highest CAGR owing to its increasing use in commercial air conditioners across the globe.

Furthermore, the R-290 and R-600A refrigerant is also expected to have a rapid growth during the forecast period as many underdeveloped or developing economies are promoting these gases for more and more usage as it is cheap, safe as well as not toxic gas. These gases are considered one of the best for industrial and commercial usage.

By End-user Analysis

Hospitality Sector is Expected to Dominate the Market During the Forecast Period
On the basis of end-user segment, the global commercial air conditioner market has been categorized into healthcare, educational/Institutional, public, retail, Hospitality and manufacturing.

The service industry around the world, which includes lodging, food and drink services, theme parks, etc. is experiencing growth owing to the growing tourism sector. The ever increasing tourism sector has resulted in the rapid development of hospitality sector and also the demand for commercial air conditioners. The presence of air conditioners is a necessity in the hospitality sector as it is considered as a quality standard globally. Thus these factors are expected to contribute to the growth of commercial air conditioners in the hospitality sector.

However, the healthcare sector is expected to grow at the highest CAGR of around 5.3% as the healthcare facilities require air conditioners in all parts of the world. Developing countries such as India, China, Brazil, UAE etc. are focusing on the development of healthcare facilities, which leads to increased demand of air conditioners from healthcare sector. Furthermore, the educational/institutional and public buildings sector are also expected to have moderate growth owing to increase in number of infrastructure projects around the world expanding commercial and public buildings.

REGIONAL ANALYSIS

Based on region, the global commercial air conditioner market has been segmented into five regions which include North America, Europe, Asia Pacific, Middle East & Africa as well as Latin America.
Commercial air conditioner market size in North America was projected at around 7.0 Million units in 2018 and is expected to arise as a prominent region in the commercial air conditioner market during the forecast period. The increasing usage of energy-efficient ACs owing to declining energy consumption rate is anticipated to drive the demand for new and advanced air conditioners.

The replacement of toxic or ozone-depleting refrigerants such as banning of R-22 refrigerant and shifting towards R-32 refrigerant from R-410A considering R-32 a very less toxic gas for the environment is expected to drive growth for commercial AC over the forecast period in North America.

Asia Pacific is projected to grow at the highest CAGR, owing to the constantly expanding infrastructure spending, as well as demand for healthcare facilities, educational buildings and retail stores in India and China. Furthermore, a large number of players in the commercial air conditioner market have their presence in China and also provide air conditioners at lesser prices as compared to international well-established brands which is also expected to contribute to the high sales in the region during the forecast period 2019-2026.
North America Commercial Air Conditioners Market Size, 2018 (Million Units)

Additionally, in Europe, a high growth rate is anticipated for new advanced VRF/VRV air conditioner sales and the VRF type commercial air conditioners are projected to grow at the CAGR of around 8% as there has been a huge increase in demand from the major countries in Europe such as France, Italy, Spain, Turkey, Portugal etc.
The market in the Middle East and Africa is expected to have moderate growth owing to the growth of commercial or public buildings and rising temperatures in the region. Furthermore, Latin America is not expected to grow at a substantial rate owing to its struggling economy. However, the economy of the region is expected to recover and the demand for commercial air conditioners are expected to expand during the forecast period.

INDUSTRY KEY PLAYERS

Significance Towards Eco-Friendly and Energy Efficient Solutions from Daikin, Carrier, Mitsubishi etc.
Most of the key players in the commercial air conditioner market are constantly focussing on developing cleaner, greener, and eco-friendly refrigerants to be used for air conditioners. Following the ban of R-22 refrigerant in North America, Europe, etc. companies such as Daikin have developed R-32 refrigerant, which is around 68% less toxic and ozone-depleting gas being introduced to the market recently as the cleanest gas for commercial air conditioners.
Furthermore, the companies are constantly developing new and improved solutions such as inverter technology, smart air conditioners, less polluting air conditioners, etc. to stay ahead in completion and increase their market share. Daikin was the pioneer in introducing R32 as a lower GWP replacement for R410A, a step which has since been followed by most chief air conditioner manufacturers.

List of Key Companies Profiled:

REPORT COVERAGE

The report presents a comprehensive assessment of the global market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per market segments, helping our readers to get a comprehensive overview of the global market.

Report Scope & Segmentation

Segmentation

By Type

  • Packaged Air Conditioners
  • VRF/VRV

By Refrigerant

  • R-32
  • R-410A/R-407C
  • R-600A/R-290
  • Others (R-22, etc.)

By End-User

  • Healthcare
  • Educational/Institutional
  • Public/ Government
  • Retail
  • Hospitality
  • Manufacturing

By Region

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)
  • Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
  • Latin America (Brazil, Mexico, and Rest of Latin America)

INDUSTRY DEVELOPMENT:

Aug, 2018: Toshiba Carrier Corporation and United Technologies Corporation have entered into a joint venture to establish a new company, Toshiba Carrier Air-Conditioning India Pvt Ltd, for expanding its footprint in the commercial air-conditioning segment in India

June, 2017: Daikin Industries, Ltd., through its subsidiary Daikin Australia Pty., Ltd., acquired Airmaster Corporation Pty Ltd., a leading company in Australia for air conditioning equipment so as to strengthen its reach in the Australian market.

 

Looking for more? Check out our repository for all available reports on Commercial Air Conditioner (AC) in related sectors.

Quick Read Table of Contents of this Report @ Commercial Air Conditioner (AC) Market Size, Share & Industry Analysis, By Type (Packaged Air Conditioners, VRF/VRV), By Refrigerants (R-32, A-410A/R-407C, R600A/R-290, Others), By End-User (Healthcare, Educational/Institutional, Public/ Government, Retail, Hospitality, Manufacturing) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

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Analysis Forecast Market Price Analysis Market Reports Market Size Market Study

Global drug delivery devices market size was USD 1,020.07 billion in 2018 and is projected to reach USD 1,792.60 billion by 2026, exhibiting a CAGR of 7.3% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Drug Delivery Devices market.

Trusted Business Insights presents an updated and Latest Study on Drug Delivery Devices Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Drug Delivery Devices market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Drug Delivery Devices Market Size, Share & Industry Analysis, By Route of Administration (Injectable, Nasal, Topical & Transdermal, Oral and Others), By Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and Regional Forecast, 2019-2026 (Includes COVID-19 Business Impact)

The global drug delivery devices market size was USD 1,020.07 billion in 2018 and is projected to reach USD 1,792.60 billion by 2026, exhibiting a CAGR of 7.3% during the forecast period.

We have updated Drug Delivery Devices Market with respect to COVID-19 Impact.
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The pharmaceutical industry is evolving at a rapid rate and experiencing fierce competition. These challenges have resulted in rise in demand for biologics drugs for treatment of various diseases. Demand for user-friendly devices enabled with smart technology, large-volume drug dose delivery, and lesser side effects will drive the   growth during the forecast period. Additionally, the penetration of healthcare start-ups will promote innovations in emerging as well as developed nations, thereby contributing to earning large market size. Higher investments for nanotechnology-based devices coupled with shift towards home-based care, is anticipated to mark high growth in the near future.

MARKET TRENDS

“”Manufacturers Focus Towards Digitalization to Spur the Market””
Previously, pharmaceutical manufacturers focused on delivering the right drug molecule and often decided the delivery mode later. But nowadays, manufacturers have started considering delivery of the drug earlier. This has given rise to the digitalization trend in the pharmaceutical industry. The digital experience is unrolling into the drug delivery space in the form of apps, adherence, wellness, and education. The digital aspect for drug delivery is helping patient population by ensuring that the patients receive the proper therapeutic dose for their diagnosed condition. This is driving the need for novel and smart drug delivery devices in the market such as wearables. For example, Insulet Corporations Omnipod, a wearable device indicated for diabetes management, is a smart, waterproof and discreet device that allows patients and caregivers a peace of mind.

MARKET DRIVERS

“”Launch of Innovative Products to Fuel the Market””
Introduction of new products with large volume doses, smart technology, and user-friendly attributes have resulted in increasing the demand for advanced drug delivery devices. The popularity of ocular inserts, insulin jet, wearables, and others is increasing as innovative product launches have provided greater efficiency and customer satisfaction. Significant investments made by the producers in understanding the needs of the patients and introducing products that match the patients requirements is projected to augment the drug delivery devices market growth. For example, West Pharmaceutical Services Inc., in October 2019, launched NovaPure 3ml cartridge for the delivery of higher volume injectable drug delivery.

“”Patient Shift Towards Adoption of Advanced Drug Delivery Devices to Increase Market Value””
Rising patient preference from conventional drug delivery devices to acceptance of advanced drug delivery devices is anticipated to drive the market during the forecast period. The growth of advanced drug delivery devices is attributable to the advantages provided by the devices such as wearables, auto-injectors, dry powder inhalers, and many others over conventional form of drug delivery such as injections. Advanced drug delivery devices provide needle-free drug delivery and thus are highly preferred among patients. These devices are portable, smart, and offer the user a greater flexibility along with the advantage of self-administration and self-monitoring attributes.

MARKET RESTRAINT

“”Frequent Regulation and Guideline Changes for Combination Products to Hamper the Market Growth””
On the regulatory outlook, the regulatory bodies have set stringent regulations for the approval of combination products. They have now focused on analyzing the drug formulations and not only the device efficiency. Due to frequent changes in the regulations, manufacturers find it challenging in launching new product and as well as meeting the patient needs. For example, in November 2019, the U.S FDA issued a new draft guidance for product development and quality consideration of transdermal and topical delivery systems. Such changes are expected to hamper the growth of the market.

SEGMENTATION

By Route of Administration Analysis

“”Injectable Segment to Register Remarkable Growth””
The report focuses on market trends covering different product types that include injectable, nasal, topical & transdermal, oral, and others. The injectable segment is estimated to dominate the drug delivery devices market share owing to the systems ability to deliver drugs to the target site allowing it to be more localized. Also, rising patient preference shift from vial-and-syringe to ready-to-use devices to boost the segment growth.
The others segment is anticipated to hold the second position in the market owing to the investments in R&D for the development of ocular, rectal, and other devices. The topical and transdermal drug delivery devices segment is anticipated to mark significant growth in the forecast period owing to advancements and advantages provided by the transdermal drug delivery devices. This includes properties such as avoiding first-pass metabolism, minimizing side effects, increasing patient compliance and avoiding dose dumping.
By Type Analysis

“”Advanced Drug Delivery Segment to Emerge as Fastest Growing Segment””
Based on type, the market has been segmented into conventional and advanced. Conventional drug delivery devices account for the dominating share in the market. This dominance is attributable to the rising demand for inhalers, injectable, nebulizers, and others. Also, the increasing prevalence of respiratory diseases, growing hospital admissions, and demand for needle-free drug delivery devices are the factors responsible for the leading position. According to the World Health Organization (WHO), around 300 million people worldwide have been diagnosed with asthma. Though advanced drug delivery devices have been introduced in the market, injectable, pen-injectors, inhalers are still commonly practiced worldwide.

On the flip side, innovations for nanotechnology-based devices are emerging in the market. Demand for more user-friendly, compatible, and lesser side effects devices are expected to propel the demand for advanced drug delivery devices in the market. Furthermore, complex disorders such as cancer, and neurological disorders require careful and target-specific drug delivery to enhance effective treatment. This is projected to boost the advanced segment in the market during 2019-2026.

By Distribution Channel Analysis

“”Retail Pharmacies to Emerge as the Fastest Growing Segment””
Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment accounted for the major portion of the market. Increasing hospital admissions in the emerging nations, as well as advancements in the hospital facilities worldwide, are responsible for high market share earned by the hospital pharmacies segment. The retail pharmacies segment, on the other side is expected to emerge as the fastest growing segment during the forecast period, owing to easy availability of these devices in the pharmacies as well as increased adoption of drug delivery devices by the retail pharmacies. Additionally, the rising awareness among the patient population about the benefits of inhalers for asthma, growing preference for self-injectable devices and self-monitoring devices will add to the growth of the retail pharmacies segment. Lower adoption of e-commerce and online channel for purchases in the low-income countries is expected to hinder the growth for the online channels segment during the forecast period.

REGIONAL ANALYSIS

North America, by generating a revenue of USD 428.43 billion in 2018, accounted for the maximum drug delivery devices market share in 2018. Key factors responsible for this dominance are favorable health reimbursement, rising emphasis on elderly care, and greater adoption of the drug delivery devices by the patient population. Moreover, development of biologics, increasing chronic disorders, and existence of large number of prominent players are the factors augmenting the market in North America. Europe holds the second position in the global market. Increasing prevalence of chronic diseases is the major factor responsible to drive the European market growth. This, coupled with the penetration of big pharma companies in countries such as Italy, Switzerland, Ireland, and others is expected to drive the drug delivery devices market growth. Asia Pacific is anticipated to register highest CAGR. Rising population in countries such as China and India, huge number of potential users, and the increasing awareness about the benefits of drug delivery devices in the emerging nations are the major factors boosting the market in Asia-Pacific. The market in Latin America and Middle East and Africa are in nascent stage. However, developing healthcare infrastructure in these regions are likely to help the respective markets witness considerable growth during the forecast period.

KEY INDUSTRY PLAYERS

“”Continuous Investments in Development of Drug Delivery Devices and New Product Launches by Key Players Will Intensify Competition””
The global market is fragmented in nature with a large number of key players operating worldwide. These companies are making efforts to deliver patient-friendly, therapeutically effective, and smart devices. Key players such as BD, 3M, West Pharmaceutical Services Inc., Emergent BioSolutions Inc., Insulet Corporation, Consort Medical plc, as well as other prominent players play huge role in bringing up novel and technology-enhanced drug delivery devices in the market. Merging and acquisitions between the local and multinational players has contributed to the healthy market competition.

Furthermore, delivering and innovation into advanced drug delivery devices such as nanotechnology-based devices is the upcoming trend adopted by the market players.

LIST OF KEY PLAYERS PROFILED IN THE REPORT:

  • BD
  • Emergent Biosolutions Inc.
  • Consort Medical plc
  • Aptar Pharma
  • West Pharmaceutical Services Inc.
  • Insulet Corporation
  • Nemera
  • SHL Medical AG.
  • Pfizer Inc.
  • Other Prominent Players

REPORT COVERAGE

  • An Infographic Representation of Drug Delivery Devices Market
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The drug delivery devices market report highlights the leading regions across the world that offers a better understanding of the market for the user. Furthermore, the report provides insights into the latest industry trends, new product launches, pipeline analysis and key industry developments such as mergers, acquisition, and partnerships. It further throws light on some of the growth-stimulating factors and restraints, helping the reader to gain in-depth knowledge about the market.

Report Scope and Segmentation

Segmentation

By Route of Administration

  • Injectable
  • Nasal
  • Topical & Transdermal
  • Oral
  • Others

By Type

  • Conventional
  • Advanced

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

By Geography

  • North America (the U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and the Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)

 

KEY INDUSTRY DEVELOPMENTS:

October 2019: Aptar Pharma announced the of its patented Unidos liquid system Tosymra for treatment of migraine in the U.S.

August 2019: Nemera announced the acquisition of Insight Product Development to strengthen its capabilities as an early-stage development company and provide drug delivery devices services to consumers in North America.

 

Looking for more? Check out our repository for all available reports on Drug Delivery Devices in related sectors.

Quick Read Table of Contents of this Report @ Drug Delivery Devices Market Size, Share & Industry Analysis, By Route of Administration (Injectable, Nasal, Topical & Transdermal, Oral and Others), By Type (Conventional and Advanced), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and Regional Forecast, 2019-2026 (Includes COVID-19 Business Impact)

Contacts

Trusted Business Insights
Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
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Analysis Forecast Market Price Analysis Market Reports Market Size Market Study

Global escalator and elevator market size was USD 70.95 billion in 2018 and is projected to reach USD 114.65 billion by 2026, exhibiting a CAGR of 6.4% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Elevator and Escalator market.

Trusted Business Insights presents an updated and Latest Study on Elevator and Escalator Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Elevator and Escalator market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Escalator and Elevator Market Size, Share & Industry Analysis, By Product (Elevators, Escalators and Moving Walkway), By Business (New Equipment, Maintenance and Modernization), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

The global escalator and elevator market size was USD 70.95 billion in 2018 and is projected to reach USD 114.65 billion by 2026, exhibiting a CAGR of 6.4% during the forecast period.

We have updated Elevator and Escalator Market with respect to COVID-19 Impact.
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The rising investment in commercial and residential infrastructure in the developing and developed economies is resulting in the growth of the market. Construction works of the largest and tallest commercial projects in several regions are likely to increase the adoption of the product. For instance, White Magnolia Tower, Raffles City, Xujiahui Center, One Manhattan West, and Lakhta Center are few of the projects in the urban areas where the escalator and elevator manufacturers are focused on contributing. Also, the increasing focus of manufacturers in offering products with improved safety is expected to result in the escalator and elevator market growth.

MARKET TRENDS

Increasing Shift towards Environmentally Friendly Products is Resulting in the Adoption of Green Labeled Products
The elevator and escalator manufacturers are focusing on building sustainable products to attract the environmentally conscious consumers. Green elevators have various features including LED lights, recycled materials, and water soluble paints. Furthermore, the escalators and elevators companies are focusing on using alternatives to the rope and pulley systems such as magnetic motors are gaining popularity among customers. Moreover, the recognition provided to such green products is attracting investments from the manufacturers. For instance, in 2018, the KONE solutions including TransitMaster 140 escalator, KONE S MonoSpace, and KONE 3000 TranSys elevators received Singapore green building product certificates with high ratings.

MARKET DRIVERS

Increasing Investment in Infrastructure is Expected to Propel Growth

The increasing infrastructure spending by developing economies is expected to result in the growth of escalators and elevators market. Moreover, the UNCTAD Trade and Development report analysis of more than 40 developing countries suggest high emphasis on infrastructure project. Thus, the evolving government initiatives from various emerging nations to drive their economy is likely to result in the development of bridges, dams, and urban infrastructure growth such as highways, schools, ports, and airports which, in turn, is expected to drive the escalator and elevator market. For instance, India plans to invest USD 1.4 trillion on infrastructure by the next five years.
Moreover, the development of smart cities is expected to drive the escalators and elevators market. For instance, the Policy Forum stated that Chinas smart city investment was estimated to be around USD 30.4 billion in 2018 and is expected to reach more than USD 59.9 billion by 2023. In addition, the surge in demand for high speed lifts owing to the construction of skyscrapers is resulting in the escalator and elevator market growth. For instance, the Merdeka PNB 118 is a 644m skyscraper that is under construction in Malaysia. This tower is expected to be the tallest building in Southeast Asia and is likely to be complete by 2021.

Energy Efficient Elevators and Escalators are Resulting in the Growth of the Market
Elevators represent 2% to 7% of the total energy consumed in the whole-building and have significant scope of improvement regarding energy consumption. Thus, manufacturers are focusing on the development of energy efficient elevators. These elevators use less energy with the help of improved hardware, controls, and offer improved compactness. In addition, the surge in government initiatives to save energy is further expected to result in the growth of energy efficient escalators and elevators market. For instance, the Swiss government promoted the refurbishment of old elevators so as to result in energy efficiency in 2019 with Schindler Switzerland as its technology partner. Thus, it is likely to result in the high demand for electricity proficient elevators.

MARKET RESTRAINT

Rise in Escalator and Elevator Causalities is Impacting the Market Growth
The increasing concerns about the elevators and escalators accidents are expected to impact the market. According to the U.S. Bureau of Labor Statics and Consumer Product Safety Commission, in the U.S., more than 30 people are killed and around 17,000 are seriously injured in escalators and elevators incidents every year. The elevator incidents are responsible for around 90% of deaths and 60% of the serious injuries. Incidents where workers are caught in between the moving parts of elevators and escalators while maintenance and repair service are also high in number. However, the increasing safety and security measures regarding the workplace and training are expected to reduce the incidents taking place during the repairing and maintenance activities. Furthermore, the surge in product quality and high safety measures induced by manufacturers are likely to result in the growth of the escalator and elevator market revenue.

SEGMENTATION
By Product Analysis

Escalator is the Fastest Growing Segment in the Market Owing to the Increasing Demand from the Evolving Infrastructure

Based on product, the market is segmented into elevators, escalators, and others.
The escalators segment is expected to be the fastest growing segment in the market. This is attributed to the increasing demand from the commercial infrastructures including shopping malls, commercial parks, and others. Moreover, the rising aerospace infrastructure development is resulting in the rise in demand for escalators and moving walkways. For instance, the U.K.s Stansted Airports transformation is expected to complete by 2021 at an expense of USD 775 million. Furthermore, the demand for elevators is expected to experience a stable growth as a result of their high penetration in the market.

By Business Analysis

New Equipment is the Dominant Segment in the Market
Based on business, the market is segregated into new equipment, maintenance, and modernization.
The new equipment segment has significantly contributed in the growth of the market revenue and is expected to remain dominant over the forecast period. This is attributed to the surge in urbanization, changing demographics, and rise in construction activities. For instance, in 2018, KONE received more than 1,66,000 new orders of elevators and escalators. Furthermore, maintenance and modernization of the existing equipment is expected to showcase significant growth over the period of time. Manufacturers are focusing on providing value added services. For instance, KONE is introducing services that utilize new technologies to create value for customers. In 2017, KONE introduced its elevator maintenance offering with customizable KONE care 24/7 connected services through the IBM Watson (Internet of things) IoT platform.

By Application Analysis

Commercial Segment to Dominate Owing to High Product Adoption
Based on application, the market is segmented into residential, commercial, and industrial.
Escalators and elevators have a high penetration in the commercial centers such as malls, retail centers, and co-working places. The increasing shift towards eco-efficiency, flexible design, and safety is driving the commercial segment. Besides, the increase in self-employment has led to the demand for multiple co-work places over the past few years. Thus, evolving investments in office space is further expected to contribute to the growth of the escalator and elevator market. For instance, in 2018, the Embassy Office Parks of India stated that it would raise around USD 775.7 million through Indias First Real Estate Trust.
The increasing residential construction activities are further expected to propel the market demand. According to the World Resources Institute, China is expected to spend more than USD 13 trillion on buildings by 2030. The industrial sector is contributing to the market growth owing to the growing demand for freight transport needs across numerous verticals.

REGIONAL ANALYSIS

Asia Pacific Escalator and Elevator Market Share, 2018 (USD Billion)

Based on region, the market is segmented into North America, Europe, the Middle East & Africa, Asia Pacific, and Latin America.
Asia Pacific is the dominating region owing to the increasing demand from the key economies and developing areas, such as India and South East Asia. China has significantly contributed to the growth of the market revenue and holds the major escalator and elevator market share.
Europe is expected to showcase growth in the maintenance and modernization of escalators and elevators. The increasing commercial and residential construction activities in the Middle East & Africa are expected to significantly contribute to the market growth. For instance, in 2019, the Kalba Waterfront mall contract was awarded to MJM contracting in Sharjah by Eagle Hills. The political uncertainty of Brazil is further expected to impact the growth of the market in Latin America. North America is expected to exhibit growth in elevators and escalators service offering over the forecast period.

KEY INDUSTRY PLAYERS

KONE is Engaging in Mergers and Acquisition to Expand its Product Portfolio and Strengthen its Presence
In 2018, KONE acquired the service and repair business of Heartland Elevator LLC. This is further expected to strengthen the domestic operations of KONE in the Dallas Metropolitan area.
In 2017, KONE acquired Alois Kasper GmbH based in Germany. This acquisition is likely to strengthen KONEs presence in the European region including Frankfurt and Saarland.
Key Players are Focusing on Strengthening Their Offerings
Key players are adopting the strategy of acquisition of small regional players so as to strengthen their service offerings as well as develop their domestic presence. Furthermore, the advancement in technologies and persistent research are resulting in the development of innovative products and services. For instance, in 2018, Otis launched “Otis One, an IoT service platform which personalizes the service experience. This is attributed to the real-time, transparent information exchange tools, and predictive maintenance functions provided by it.

List of Key Companies Profiled:

  • thyssenkrupp AG (Cinven, Advent and RAG foundation)
  • United Technologies
  • Schindler
  • KONE CORPORATION
  • Hitachi, Ltd.
  • HYUNDAIELEVATOR CO., LTD.
  • Mitsubishi Electric Corporation
  • Johnson Elevator Co., Ltd.
  • Fujitec Co., Ltd.
  • Toshiba Corporation

KEY INDUSTRY DEVELOPMENT:

May, 2019: Schindler and Telefonica formed a partnership for digital connectivity. This collaboration is aimed to provide IoT connectivity for all the smart escalators and elevators of Schindler.

February, 2020: Thyssenkrupp sold its elevator technology business to a confederation led by Cinven, Advent, and RAG foundation. This transaction is expected to be complete by the end of 2020.

REPORT COVERAGE

The escalator and elevator market report offers an in-depth analysis of the market. It further provides details on the adoption of escalator and elevator across several regions. Information on trends, drivers, opportunities, threats, and restraints of the market can further help stakeholders to gain valuable insights into the market. The report offers a detailed competitive landscape by presenting information on key players, along with their strategies, in the market.

An Infographic Representation of Elevator and Escalator Market

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Report Scope and Segmentation

 Segmentation

By Product

  • Elevators
  • Escalators
  • Moving Walkway

By Business

  • New Equipment
  • Maintenance
  • Modernization

By Application

  • Residential
  • Commercial
  • Industrial

By Region

  • North America (U.S. and Canada)
  • Europe (Germany, U.K., France, and the Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, South East Asia and the Rest of Asia Pacific)
  • Middle East & Africa (GCC, South Africa, and the Rest of the Middle East & Africa)
  • Latin America (Brazil, Mexico, and the Rest of Latin America)

 

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Quick Read Table of Contents of this Report @ Escalator and Elevator Market Size, Share & Industry Analysis, By Product (Elevators, Escalators and Moving Walkway), By Business (New Equipment, Maintenance and Modernization), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

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Global spinal fusion devices market size was USD 6.37 Billion in 2018 and is projected to reach USD 8.45 Billion by 2026, exhibiting a CAGR of 3.6% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Spinal Fusion Devices market.

Trusted Business Insights presents an updated and Latest Study on Spinal Fusion Devices Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Spinal Fusion Devices market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Spinal Fusion Devices Market Size, Share & Industry Analysis, By Product Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

The global spinal fusion devices market size was USD 6.37 Billion in 2018 and is projected to reach USD 8.45 Billion by 2026, exhibiting a CAGR of 3.6% during the forecast period.

We have updated Spinal Fusion Devices Market with respect to COVID-19 Impact.
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The number of spine fusion surgeries has gradually increased in recent years. Spinal fusion, also called as spinal arthrodesis, is a type of surgical procedure used to fuse two or more vertebral bodies in the vertebral column. Spinal fusion procedure is performed for the treatment of degenerative disc disease, abnormal spinal curvatures, spondylolisthesis, and others. Rising geriatric population and increase in number of spinal injuries have resulted in increasing the volume of spinal fusion procedures. According to the Australian Bureau of Statistics 2017“18 National Health, approximately 16% of the population in Australia have back problems, which account for 4.0 Million people. This is projected to augment the market during the forecast period.
Spine fusion devices consist of cervical fixation devices, thoracolumbar fixation devices, interbody devices, and biologics. Rising demand for cervical and thoracolumbar devices and developments in interbody devices are the primary reasons which are poised to surge the market. In October 2019, Stryker received 510 (k) approval from the FDA for SAHARA Lateral 3D Expandable Interbody System, a 3D printed spine fusion implant. This is expected to positively impact the worldwide market for spinal arthrodesis devices.

Various technologies are being incorporated by major key manufacturers which is positively impacting the demand for spinal arthrodesis devices. Robotic-assisted spinal fusion surgery and minimally invasive spine fusion devices are emerging as game-changers for patients having spine diseases. Apart from this, increased research on biologics, especially Bone Morphogenetic Proteins (BMPs), is expected to favor the adoption of the spinal fusion implants

MARKET DRIVERS

Emergence of Robotic Spine Fusion Surgeries to Fuel the Market

Adoption of surgical robots in the spine industry is gradually increasing, with many hospitals offering robotic surgery for the treatment of various spinal diseases. Many manufacturers are focusing on developing surgical robots that can be used in spinal fusion surgeries along with the companys implants and navigation tools. This has paved the way for many strategic collaborations and new product launches which is expected to drive the growth of the market. In January 2019, Medtronic announced the launch of Mazor X Stealth Edition, a robotic system for spine surgery. The system can be used with the companys spine implants, navigation and 3D imaging tools, providing a comprehensive solution to the healthcare professionals. Deeper penetration of such robotic system is expected to boost the spinal fusion devices market growth during the forecast period.

New Product Launches to Drive the Adoption of Spine Fusion Devices
The market for spinal arthrodesis devices is highly competitive, with key players constantly introducing new and advanced products in the market to maintain their position. Furthermore, minimally invasive surgeries are witnessing remarkable traction worldwide, compelling the players to launch devices especially for minimally invasive spinal fusion surgeries. For example, in July 2019, Alphatec Spine announced the commercial launch of InVictus, a spinal fixation platform designed for open, minimally invasive, or hybrid surgical procedures. Such innovations are anticipated to steer the spinal fusion devices market trends.

SEGMENTATION

By Product Type Analysis

Rising Prevalence of Lumbar Spine Degeneration to Boost the Thoracolumbar Devices Segment
Based on product type, the market can be segmented into cervical devices, thoracolumbar devices, interbody devices, and biologics. The thoracolumbar devices segment is estimated to hold a maximum share in the market in 2018. Increasing availability of a variety of thoracolumbar fixation devices and rising prevalence of lumbar spine degeneration are the major factors attributed to the growth of this segment.

The cervical devices segment is anticipated to propel owing to the rapid adoption of spine navigation software and favorable health insurance coverage. Rapid adoption of expandable interbody devices and increasing demand for interbody spacer devices are the primary reasons attributable to the expansion of the interbody devices segment. Also, the launch of IdentiTi, an interbody implant system made of titanium for anterior lumbar interbody fusion procedures in July 2019 by Alphatec Spine is anticipated to foster the demand for interbody devices.

The biologics segment is anticipated to expand owing to the increased usage of demineralized bone matrix (DBM) and synthetic graft for spinal fusion.

By Disease Indication Analysis

Degenerative Disc Disease Segment to Dominate the Market
In terms of disease indication, the market is categorized into degenerative disc disease, complex deformity, traumas & fractures, and others. The degenerative disc disease is estimated to dominate the market throughout the forecast period. Spine fusion surgery has emerged as the standard treatment for degenerative disc disease, which is an important factor contributing to the expansion of the segment, says the spinal fusion devices market analysis.
The complex deformity segment is likely to propel owing to the significant increase in the number of births with deformities and active government support for awareness regarding the correction of deformities. The rising number of cases of spinal injuries and fractures, favorable reimbursement, and demand for minimally invasive surgeries are poised to surge the traumas & fractures and others segments during 2019-2026.

By End User Analysis

Favorable Health Reimbursement to Drive the Growth of Hospitals & ASCs Segment
On the basis of the end user, the market is classified into hospitals & ambulatory surgery centers, specialty clinics, and others. The hospitals & ambulatory surgery centers segment is estimated to dominate the market throughout the forecast period due to the rapid adoption of advanced spine surgery products and gradual rise in number of robotic spine surgery.  Also, spinal fusion procedures in ambulatory surgery centers are resulting in significant cost saving, which is projected to further propel the segment. According to an article published in Neurosurgery, spinal surgery in ambulatory surgery centers can result in saving USD 140 Million annually.
The specialty clinics segment is projected to witness remarkable growth during 2019-2026 owing to the gradual shift towards minimally invasive spine fusion procedures and increase in the number of spine surgeons. The others segment is anticipated to expand owing to the increased research on biologics and the use of artificial grafts for bone healing.

REGIONAL ANALYSIS

North America generated a revenue of USD 3.02 Billion in 2018 and is projected to dominate the global spinal fusion devices market share throughout the forecast period. Significant rise in the number of spinal fusion procedures in ambulatory surgical centers and outpatient settings, rapid adoption of spine navigation tools, and surgical robots are factors that are expected to fuel the market in North America. According to the Centers for Disease Control and Prevention, over 20.4% of the U.S. adults were suffering from chronic pain and 8.0% of the U.S. adults had high-impact chronic pain in 2016. This is expected to augment the demand for spine fusion implants in the U.S during the forecast period.

In Europe, the market is expected to expand due to the favorable health reimbursement, high demand for 3D printed medical devices in Germany and the U.K, and gradual shift towards minimally invasive surgeries. Furthermore, increased government investment in biologics and spinal fusion implants is anticipated to accelerate the growth of the market in Europe.
North America Spinal Fusion Devices Market Size, 2018

In Asia Pacific, the demand for spinal arthrodesis devices is poised to surge during the forecast duration due to the improving reimbursement policies for spine surgeries and the increasing prevalence of degenerative diseases and spine fractures. In September 2019, the Australian Government announced changes in the Medicare Benefits Schedule (MBS) items for spine procedures which will provide appropriate reimbursement to the patients undergoing spinal surgery. This is expected to further fuel the market in Asia Pacific. Improving healthcare infrastructure, gradual shift towards minimally invasive spine solutions, and expansion of distribution network of key players in developing nations are primary factors augmenting the market in Latin America and the Middle East and Africa.

INDUSTRY KEY PLAYERS

K2M Acquisition to Strengthen Stryker Market Position
Medtronic accounted for the largest market share in the market mainly due to the companys strong focus for core spine products and established distribution networks. The acquisition of Mazor Robotics and the launch of Mazor X Stealth Edition system to be used with the companys spinal implants has positively impacted the companys revenue. DePuy Synthes and Stryker also have a leading position in the worldwide market of spine arthrodesis devices.  The market share of Stryker is estimated to increase in the forthcoming years owing to the acquisition of K2M in November 2018.

List Of Key Companies Covered:

  • Medtronic
  • Stryker
  • Zimmer Biomet
  • DePuy Synthes (Johnson & Johnson Services, Inc.)
  • NuVasive, Inc
  • RTI Surgical Holdings, Inc.
  • Aesculap, Inc. (B. Braun Melsungen AG)
  • Alphatec Spine, Inc.

REPORT COVERAGE

Rising prevalence of cervical and lumbar disc degeneration and a gradual shift toward minimally invasive procedures has fueled the market. With the advent of robotic assisted spine surgery and spine navigation platforms, the demand for spine fusion devices is expected to increase drastically during the forecast horizon. The report provides qualitative and quantitative insights on the spinal fusion devices market trends and detailed analysis of the size & growth rate for all possible segments in the market.

Along with this, the report provides a detailed analysis of the dynamics and competitive landscape. Various key insights provided in the report include the prevalence of spinal diseases for key countries, the regulatory scenario for key countries, reimbursement scenario for key countries, new product launches, key industry developments such as mergers, acquisitions and partnerships, key industry trends, and company profiles.

Report Scope & Segmentation

Segmentation

By Product Type

  • UCervical Devices
  • Thoracolumbar Devices
  • Interbody Devices
  • Biologics

By Disease Indication

  • Degenerative Disc Disease
  • Complex Deformity
  • Traumas & Fractures
  • Others

By End User

  • Hospitals & Ambulatory Surgery Centers
  • Specialty Clinics
  • Others

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East and Africa ( South Africa, GCC, and Rest of Middle East & Africa)

INDUSTRY DEVELOPMENT:

October 2019: In October 2019, Stryker received 510 (k) approval from the FDA for SAHARA Lateral 3D Expandable Interbody System, a 3D printed spine fusion implant.

July 2019: Alphatec Spine announced the launch of IdentiTi, an interbody implant system made of titanium for anterior lumbar interbody fusion procedures

August 2019: SeaSpine announced the commercial launch of Shoreline RT Cervical Interbody Implant System for anterior cervical discectomy fusion surgery.

 

Looking for more? Check out our repository for all available reports on Spinal Fusion Devices in related sectors.

Quick Read Table of Contents of this Report @ Spinal Fusion Devices Market Size, Share & Industry Analysis, By Product Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2020-2029 (Includes COVID-19 Business Impact)

Contacts

Trusted Business Insights
Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580

Categories
Analysis Forecast Market Price Analysis Market Reports Market Size Market Study

Global negative pressure wound therapy (NPWT) market size was USD 1.85 billion in 2018 and is projected to reach USD 2.74 billion by 2026, exhibiting a CAGR of 5.1% during the forecast period.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Negative Pressure Wound Therapy (NPWT) Devices market.

Trusted Business Insights presents an updated and Latest Study on Negative Pressure Wound Therapy (NPWT) Devices Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Negative Pressure Wound Therapy (NPWT) Devices market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Negative Pressure Wound Therapy (NPWT) Market Size, Share & Industry Analysis, By Device Type (Conventional NPWT, and Single-use NPWT), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Burns & Trauma, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others) and Regional Forecast, 2019-2026 (Includes COVID-19 Business Impact)

The global negative pressure wound therapy (NPWT) market size was USD 1.85 billion in 2018 and is projected to reach USD 2.74 billion by 2026, exhibiting a CAGR of 5.1% during the forecast period.

We have updated Negative Pressure Wound Therapy (NPWT) Devices Market with respect to COVID-19 Impact.
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Negative pressure wound therapy (NPWT), also called as vacuum assisted closure refers to a wound dressing system that continuously or intermittently applies negative pressure on the surface of the wound. This treatment has become a popular modality for the management of acute and chronic wounds. Commercially available NPWT systems include conventional and single-use devices and their usage depend upon factors such as size and location of the wound, general health, and nutritional status of the patient, etc. Generally, NPWT dressings are changed every 48 hours or the changing period can even be extended up to 2-6 weeks depending upon the severity of the wound.
Increasing number of surgeries owing to the rising incidence of surgical site infections, along with the increasing prevalence of chronic wounds are some of the major factors fueling the demand for negative pressure wound therapy in the global market. For instance, according to the U.S. National Institute of Health, chronic wounds affect around 6.5 million people every year in the U.S. Additionally, increasing investments by the market players to offer advanced devices and supply NPWT devices in the emerging countries due to their strong distribution networks, are projected to drive the negative pressure wound therapy devices market growth during the forecast period.
However, the availability of other alternatives in the market at lower costs for the treatment of chronic or acute wounds, can hamper the adoption of NPWT devices and subsequently restrain the growth of negative pressure wound therapy market during the forecast period.

MARKET DRIVERS

Rising Prevalence of Chronic Wounds to Drive the Growth of Market

Globally, an increasing prevalence of chronic diseases, such as diabetes, is presenting a large patient pool suffering from its comorbidity i.e. diabetic foot ulcers. For instance, according to a data published by the NHS in 2017, an estimated 4.5 million people were living with diabetes in the U.K. and around 10.0% of the diabetic population developed foot ulcer at some point of their lives. Along with this, the rising geriatric population affected by numerous diseases and conditions is resulting in decreased mobility among elderly patient. It is one of the major negative pressure wound therapy (NPWT) devices market trends. Such trends are expected to fuel the demand for its treatment and eventually boost the adoption of vacuum assisted closure devices during the forecast period.
Similarly, an increasing number of surgical procedures worldwide is causes by a large patient pool suffering from surgical wounds and it is projected to drive the growth of negative pressure wound therapy market during the period of 2019-2026.

Launch of Technologically Advanced NPWT Devices to Propel Growth
Negative pressure wound therapy has evolved over the past few years to offer wound healing at a faster pace. An advanced NPWT device offers a treatment that can also be used in the outpatient settings on a multitude of wounds ranging from postoperative incisions to wounds that are completely necrotic. For instance, in May 2019, KCI Licensing, Inc. received the U.S. FDA approval for DERMATAC drape, a proprietary silicone-acrylic hybrid drape that provides both clinical and operational benefits to the patient in homecare settings.
Thus, introduction of such advanced products by major players is projected to fuel the demand for vacuum assisted closure devices and subsequently, drive the growth of the negative pressure wound therapy market during the forecast period. Also, the exponential increase in the cost burden exerted by choric wounds treatment, coupled with the launch of advanced & cost efficient single-use NPWT by major players is anticipated to boost the demand for NPWT, resulting into market growth during the forecast period.

SEGMENTATION

By Device Type Outlook

Single-use NPWT Segment to Grow at a Faster Pace Backed by Cost Efficiency
Rising shift of patients towards home care settings is observed in many countries of North America and Europe. Certain benefits offered by single-use NPWT such as cost efficiency, suitability in treatment of low to moderately exuding wounds, and battery powered pump are projected to increase the adoption of single-use NPWT in the homecare settings worldwide. The growth of this segment is further augmented by the introduction of portable single use NPWT by key players, which has proven instrumental in the rising preference of patients towards this device for treatment.

For instance, Smith & Nephew, a dominant player in the NPWT market, in 2018 announced the European launch of its new PICO 7Y. Moreover, the rising adoption of conventional NPWT systems in hospitals & clinics is also anticipated to boost the market growth of vacuum assisted closure devices market during the forecast period.

By Indication Outlook

Diabetic Foot Ulcer Segment Emerged Dominant in 2018 Owing to Rising Cases of Diabetes
Among indication, the diabetic foot ulcers segment accounted for the highest negative pressure wound therapy (NPWT) market share in the year 2018. The dominance of this segment is attributed to the rising prevalence of diabetes, coupled with the increasing patient pool living with diabetic foot ulcers. According to various population based studies, in India, the prevalence of diabetic foot ulcers among the diabetic patients was estimated to be 16.0% in 2017. Also, such trends are present in the European countries and the U.S., which are resulting in the high adoption of vacuum assisted closure devices for diabetic foot ulcers treatment.

Similarly, the burns & trauma and the pressure ulcers segments are also expected to drive the growth of the negative pressure wound therapy market during the forecast period owing to the increasing prevalence of pressure ulcers and incidence of burns worldwide.

By End User Outlook

Hospitals Segment Accounted for Highest Market Share in 2018
In terms of end user, the market is segmented into hospitals, clinics, homecare settings, and others. The hospitals segment is anticipated to have the dominant revenue share during the forecast period owing to the increasing patient pool with acute or chronic wounds in hospitals. For instance, according to a data published by the Nursing Times, among all the hospitalized patients of U.K. every year, an estimated 20,000 patients suffer from pressure ulcers. Thus, such statistics are expected to maintain the dominance of this segment by the end of forecast period.
On other hand, the demand for single-use NPWT is increasing from the patients present in homecare settings of developed countries. Hence, rising shift of patients towards homecare settings in North America & Europe is anticipated to boost the growth of this segment during 2019-2026 period. Also, clinics and others segments are expected to experience a moderate growth during the forecast period owing to comparatively less number of patient admissions with chronic wounds in these settings.

REGIONAL ANALYSIS

North America generated a revenue of USD 738.1 million in 2018, and is anticipated to grow at a steady pace during the forecast period. Increasing prevalence of chronic wounds coupled with the high treatment cost in U.S are some of the major factors attributed to the dominance of North America in 2018. For instance, according to a study estimates, at least USD 33.0 billion is spent annually in the U.S on treatment of chronic wounds which include, diabetic foot ulcers, pressure ulcers, etc.

This, combined with the increasing number of burn patients in the U.S. and an extensive growth of patients suffering from pressure ulcers in the country, are fueling the demand for vacuum assisted closure devices in the U.S. These factors are anticipated to increase the negative pressure wound therapy (NPWT) devices market size in North America during the forecast period.

However, Europe is expected to grow at a comparatively lower pace during the forecast period. Inadequate reimbursement policies for NPWT, especially in the major European countries including France, Spain, and Italy is limiting the adoption of NPWT devices in this region.

Asia Pacific is expected to register a significant CAGR during the forecast period. The rising prevalence of chronic diseases in this region, combined with an increasing patient pool affected by chronic wounds, are projected to drive the growth of the vacuum assisted closure devices market during 2019-2026 period. Latin America and the Middle East & Africa are anticipated to register a moderate CAGR during the forecast period due to the high cost of the NPWT treatment and lack of favorable reimbursement policies in these regions.

INDUSTRY KEY PLAYER

Key Players Focus on Mergers & Product Launches to Gain Competitive Edge
Smith & Nephew and KCI Licensing, Inc., were the NPWT market leaders in 2018. A strong brand presence, diverse offerings, and strong distribution network in developed countries are some of the major factors attributed to the dominance of these players in the NPWT market. Along with the strong distribution network, these major players are emphasizing on mergers and new launch of advanced NPWT in the market. For instance, the recent acquisition of KCI Licensing, Inc. by 3M and the launch of PICO 7 by Smith & Nephew have helped them in fortifying their positions in the global market. Other players engaged in the negative pressure wound therapy market with considerable market share are ConvaTec Inc., Cardinal Health, Mölnlycke Health Care AB, and Medela AG.

List of Key Companies Covered:

  • Smith & Nephew
  • KCI Licensing, Inc.
  • ConvaTec Inc.
  • Cardinal Health
  • Medela AG
  • Mölnlycke Health Care AB.
  • Talley Group Ltd
  • PAUL HARTMANN Asia-Pacific Ltd.
  • Lohmann & Rauscher GmbH & Co. KG
  • Other key market players

REPORT COVERAGE

The negative pressure wound therapy (NPWT) market report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, product types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights all the significant industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over the recent years.

Report Scope & Segmentation

 By Device Type

  • Conventional NPWT
  • Single-use NPWT

By Indication

  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Burns & Trauma
  • Others

By End User

  • Hospitals
  • Clinics
  • Homecare Settings
  • Others

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

INDUSTRY DEVELOPMENT

October 2019: 3M acquired Acelity, Inc. and its KCI subsidiaries with an aim to reinforce its position in the advanced wound care and specialty surgical products market.

February 2019: KCI Licensing, Inc., announced the launch of ABTHERA, its new open negative pressure wound therapy system in Japan.

October 2018: ConvaTec Inc., received the U.S. FDA approval for AVELLE, a negative-pressure wound therapy (NPWT) system equipped with the benefits of hydrofibre technology.

February 2018: Smith & Nephew announced the launch of PICO 7, a single use NPWT system in the European countries.

 

Looking for more? Check out our repository for all available reports on Negative Pressure Wound Therapy (NPWT) Devices in related sectors.

Quick Read Table of Contents of this Report @ Negative Pressure Wound Therapy (NPWT) Market Size, Share & Industry Analysis, By Device Type (Conventional NPWT, and Single-use NPWT), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Burns & Trauma, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others) and Regional Forecast, 2019-2026 (Includes COVID-19 Business Impact)

Contacts

Trusted Business Insights
Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580