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Advanced Wound Management Market Size, Demand & Forecast | FMI
In a recent revelation, the Global Advanced Wound Management Industry is on the brink of robust and consistent growth, positioning itself to achieve a remarkable value of US$ 8.1 billion by 2023 and eyeing a potential surge to US$ 11.5 billion by 2033. These findings, fueled by a notable Compound Annual Growth Rate (CAGR) of 3.6%, underscore the industry’s resilience and adaptability in the face of challenges.
The year 2020 brought unforeseen challenges to the advanced wound management sector, as the COVID-19 pandemic induced a significant setback, causing a temporary decline in sales. However, as the global community rallied with intensified research and development efforts, focusing on innovative wound care solutions, the industry has demonstrated remarkable recovery. This resurgence is expected to drive a gradual and sustained upswing in the demand for advanced wound management products throughout the assessment period.
An exciting development to watch is the integration of biomaterials like alginates and silver into topical wound healing treatments, which is poised to further propel sales. These advancements are inspiring leading industry players to pioneer effective and cutting-edge solutions for advanced wound healing, ensuring a promising future for the market.
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Product developments in advanced wound dressing segment such as hydrogels, collagen, and hydrocolloids are on cards. Apart from these products, emergence of negative pressure wound therapy devices will boost sales in the market.
Besides this, government-backed initiatives such as public health insurance schemes in counties including the U.S., the U.K., and China will create lucrative growth opportunities in the advanced wound management industry.
Key Takeaways from the Global Advanced Wound Management Industry Analysis
Advanced wound dressing is anticipated to dominate the product segment.
Based on application, chronic ulcers will witness increasing adoption of advanced wound management.
Hospitals, followed by clinics are expected to account for maximum market sales.
The U.S. is projected to witness high demand in the advanced wound management market, owing to increasing number of diabetic patients in the country.
The U.K. will emerge as a lucrative market with rapid product developments by leading players.
China will exhibit high demand for advanced wound management due to increasing incidence of chronic wounds and reimbursements for medical expenditure.
Advanced wound management industry in India is expected to grow at a steady pace, owing to growing cases of road accidents and chronic wounds.
“Increasing research and development activities aimed at offering advanced wound healing devices and fast-track approvals for novel advanced wound management products are anticipated to propel sales in the market through 2031,” says the FMI analyst.
Growing investments in the healthcare sector, coupled with innovations in advanced wound management products are anticipated to positively shape demand in the upcoming years.
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Global Advanced Wound Management Industry Competitive Landscape
As per FMI’s analysis, ConvaTec Group Plc. Coloplast A/S, Molnlycke Health Care AB, 3M Healthcare, and Smith & Nephew PLC. are among the leading players in the market, accounting for approximately 3/4th of the market share.
Key players operating in the advanced wound management market are actively focusing on product innovations, strategic collaboration, mergers, acquisitions, and government approvals as a part of their growth strategies. For instance:
In July 2021, Ethicon Inc., a part of the Johnson & Johnson Medical Devices Company, announced the U.S. Food and Drug Administration (FDA) has granted Breakthrough Designation for the company’s transbronchial microwave ablation technology. The advanced technology uses robotic-assisted bronchoscopy for the treatment of debilitating diseases and conditions.
In July 2021, Illinois-based Medline Industries announced its plan to open a new distribution center worth US$ 100 Mn in the Katy area. The new distribution facility will bring the company’s total employee strength to around 375 employees.
Global Advanced Wound Management Industry by Category
By Product Type:
Advanced wound dressings
Alginates
Collagens
Films
Foams
Hydrocolloids
Hydrofibers
Hydrogels
Wound contact layers
Superabsorbent dressings
Negative pressure wound therapy devices
Standalone NPWT devices
Portable NPWT devices
Single-use disposable NPWT devices
NPWT accessories
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By Application Type:
Chronic ulcers
Venous leg ulcers
Diabetic foot ulcers
Pressure ulcers
Non-healing surgical wounds
Traumatic wounds
Burn cases
By End-User Type:
Hospitals
Clinics
Ambulatory surgical centers
Skilled nursing facilities
Bariatric Surgery Devices Market Size, Demand & Trends | FMI
Future Market Insights (FMI), a leading market intelligence and consulting firm, has released a comprehensive study highlighting the optimistic growth trajectory of the Global Bariatric Surgery Devices Industry. The market is set to expand gradually, with a Compound Annual Growth Rate (CAGR) of 6.2% predicted for the years 2022-2032, ultimately reaching an impressive USD 3.09 Billion by 2032.
In response to the challenges posed by the pandemic, FMI embraced a multidisciplinary approach, steering a focused effort on the growth and development of the Global Bariatric Surgery Devices Industry. The study not only provides crucial insights into the current growth dynamics but also outlines major revenue reforms that prevailed in the market as of 2021. Furthermore, it offers key takeaways anticipated to shape the market over the forecast period.
Healthcare Industry
The team of analysts at Future Business Insights are focussing on research and market study to produce different Global Bariatric Surgery Devices Industry forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Global Bariatric Surgery Devices Industry.
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What are the Main Factors Affecting the Market Development for Bariatric Surgery Devices?
The market for bariatric surgical devices is thought to be primarily driven by the increased prevalence of obesity situations. The market for bariatric surgery equipment is anticipated to increase as the obsess population becomes more aware of the issue. Other factors influencing the growth of the market for bariatric surgery equipment include the availability of surgeons trained in bariatric surgical methods. Due to the increased demand for bariatric procedures, both experienced and newly trained medical surgeons are honing and qualifying their surgical techniques. As a result, there is an increase in demand for bariatric surgery equipment. preventing dangers associated with obesity
Access to surgeons trained in bariatric surgical procedures
Due to the increased demand for bariatric procedures, both experienced and newly trained medical surgeons are honing and qualifying their surgical techniques. As a result, there is an increase in demand for bariatric surgery equipment.
Preventing dangers associated with obesity
Obese patients are at an increased risk of developing diabetes, hypertension, gastric reflux diseases, and blood pressure difficulties. The need for bariatric surgery equipment has greatly increased because the operations are meant to avoid the development of these disorders.
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Less cutting techniques
Lower incisions are required for some bariatric procedures, such the small sleeve gastrectomy, which allows patients undergo the procedures without fear. Hospitals and weight-loss clinics use bariatric surgery equipment more as a result.
Key Players
Johnson & Johnson, Covidien Plc, Cousin Biotech, and Pare Surgical, Inc., among others are the some of the key companies in the Global Bariatric Surgery Devices Industry. Pharmaceutical and medical devices leaders such as Medtronic has launched flagship devices for sleeve gastrectomy, indicating the positive expansion of the global market. Government funding is also playing a major role in providing manufacturers with the capital required to produce enhanced devices for bariatric surgeries.
Segmentation
The global market for bariatric surgery devices can be segmented on the basis of the type of
bariatric surgery
device used
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Based on the different kinds of bariatric surgery procedures, the market is classified into,
Gastric Bypass Surgery
Sleeve Gastrectomy Surgery
Gastric Banding Surgery
Others
By device-type, the Global Bariatric Surgery Devices Industry is further segmented into,
Stapling Devices
Gastric Bands
Gastric Balloons
By Region
North America
Latin America
Western Europe
Eastern
Asia Pacific
Japan
Middle East and Africa
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Forecasting Die Bonder Equipment Market Growth Beyond US$ 6,726.7 million
The die bonder equipment market is estimated to be worth US$ 4,415.3 million in 2023 and is set to surpass US$ 6,726.7 million by 2033. The adoption of die bonder equipment is likely to rise at a CAGR of 4.3% from 2023 to 2033.
Several drivers propel the die bonder equipment industry. The burgeoning demand for advanced semiconductor devices like microchips and sensors fuels the need for high-precision die bonding solutions. As consumer electronics, automotive technologies, and IoT devices evolve, die bonder equipment manufacturers witness a surge in orders for their cutting-edge machinery.
The trend of miniaturization and enhanced functionality in electronic components drives innovation in the die bonder sector. Manufacturers are under pressure to develop equipment that can handle smaller and more intricate die sizes, making die bonding a critical step in semiconductor manufacturing.
The rise of 5G technology and the increasing adoption of electric vehicles contribute significantly to the industry's growth. The demand for faster, more efficient die bonding processes to accommodate these technologies underscores the importance of die bonder equipment.
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Despite its growth prospects, the die bonder equipment industry faces several restraints. The high initial capital investment required to purchase advanced die bonder machinery can deter smaller manufacturers from entering the market. This cost barrier limits market competition and innovation, making it challenging for new players to establish themselves.
Stringent regulatory requirements impose compliance challenges for die bonder equipment manufacturers, particularly in the electronics and automotive sectors. Ensuring adherence to safety, quality, and environmental standards can be resource-intensive and time-consuming.
The die bonder equipment industry presents several lucrative opportunities. Materials, processes, and energy efficiency innovations can contribute to more sustainable semiconductor manufacturing, meeting the growing demand for green technologies.
Another significant trend is the adoption of Industry 4.0 principles, leading to smart and interconnected die bonder equipment development. These systems offer real-time monitoring, predictive maintenance, and remote operation capabilities, improving overall operational efficiency.
The industry is witnessing a shift toward hybrid bonding technologies, which enable the bonding of different materials and substrates. This trend aligns with the demand for versatile die bonder equipment accommodating diverse semiconductor applications.
"The rising emphasis on sustainable manufacturing practices and environmentally friendly technologies has opened doors for manufacturers to develop eco-conscious die bonder equipment," says an analyst at FMI.
Key Takeaways from the Die Bonder Equipment Market
• Fully automatic die bonders emerge as the dominating product type, with a 36.7% market share in 2023.
• Integrated Device Manufacturers retain a grip as the top end-user category, holding a significant market share of 67.20% in 2023.
• The United States holds a 2.3% market share in 2023, driven by its rising technology and manufacturing sector.
• Germany holds a 1.7% market share in 2023, leveraging its engineering excellence.
• The United Kingdom commands a 2.0% market share in 2023, fueled by emerging tech markets.
• China secures a substantial 4.9% market share in 2023.
• India accounts for a 5.2% market share in 2023, powered by its electronics manufacturing sector.
• Japan holds a 2.6% market share in 2023, emphasizing precision engineering.
Competition Outlook for the Die Bonder Equipment Market
The competition in the die bonder equipment industry is dynamic and characterized by several key players vying for market share and innovation. Leading companies such as Kulicke & Soffa Industries Inc., Palomar Technologies, Besi, ASM Pacific Technology Ltd., and Shinkawa Electric Co., Ltd. are at the forefront of die bonder equipment manufacturing. These industry giants continually invest in research and development to introduce cutting-edge technologies and equipment, aiming to meet the evolving demands of semiconductor and electronics manufacturers.
In addition to established players, the die bonder equipment sector also witnesses the emergence of innovative startups and smaller companies. These startups often focus on niche markets, offering specialized solutions catering to industry needs. Their agility and capacity to address unique customer requirements contribute to the industry's diversity.
Recent Developments in the Die Bonder Equipment Market
• Besi, a leading supplier of die bonder equipment, has launched its new B100 die bonder. The B100 die bonder is designed to meet the needs of the high-volume semiconductor packaging market.
• ASML, a leading lithography equipment supplier, has launched its new TWINSCAN NXE:5010XT die bonder. The TWINSCAN NXE:5010XT die bonder is designed to bond dies to a wide range of substrates, including substrates with uneven surfaces.
• Hermetic Solutions Group (HSG) acquired DiaCool's intellectual property from RHP Technologies in October 2022.
• Kulicke and Soffa obtained significant customer orders for its thermo-compression solution in October 2022. They successfully supplied its first Fluxless Thermo-Compression Bonder (TC to a significant client, maintaining its position in advanced LED Assembly.
Key Segments Profiled in the Die Bonder Equipment Industry Survey
By Product Type:
• Manual
• Semi-Automatic
• Fully Automatic
By Attachment Method:
• Epoxy
• Eutectic
• Soft Solder
• Flip Chip
By End User:
• Integrated Device Manufacturers (DMs)
• Outsourced Semiconductor Assembly and Test (OSAT)
By Region:
• North America
• Latin America
• Europe Die
• Asia Pacific
• Middle East & Africa
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Understanding the Dynamics Driving the Growth of the Variable Air Volume System Market
The Variable Air Volume System Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Variable Air Volume System market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Variable Air Volume System. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The Variable Air Volume System Market is currently witnessing robust expansion, driven by a confluence of influential factors. Among these factors, the upsurge in disposable income has led to a heightened demand for energy-efficient solutions, rendering Variable Air Volume (VAV) systems an attractive choice for both residential and commercial sectors. Furthermore, the growing emphasis on sustainability has spurred a shift towards eco-friendly HVAC technologies, consequently accelerating the adoption of VAV systems.
In our contemporary era marked by increased disposable income and a desire for enhanced quality of indoor environments, the quest for heightened energy efficiency through the automation and control of building systems has become paramount. It was during the 1970s, a period characterized by escalating energy costs, that the Variable Air Volume System, abbreviated as VAV, emerged as a pivotal solution.
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The VAV system functions by supplying conditioned air with its volume adjusted in response to the heat loss or gain within occupied spaces, all while maintaining a consistent temperature. Notably, the VAV system belongs to the category of heating, ventilating, and air-conditioning systems. Distinguishing itself from constant air volume (CAV) systems, which maintain a steady airflow at variable temperature levels, VAV systems regulate airflow while preserving a uniform temperature.
The advantages offered by VAV systems over constant-volume counterparts are manifold and include precise temperature control, reduced energy consumption attributable to system fans, mitigated compressor wear, diminished fan noise, and heightened dehumidification capabilities.
In essence, the Variable Air Volume System Market's robust growth can be attributed to its ability to meet the evolving demands of today's discerning consumers for energy efficiency, indoor comfort, and environmentally responsible HVAC solutions.
In food processing and packaging systems, precise temperature control have great influence over product quality. Strict temperature controlling positively impacts process efficiency and energy consumption, ultimately resulting in lower cost of operation. VAV systems can help in savings up to 20% of the overall energy expenses.
Variable Air Volume System Market: Drivers & Restraints
Rising disposable income, sustainability concerns, increasing infrastructure investments, energy efficiency legislations are some of the key factors driving the growth of the variable air volume system market.
Installation costs are highly application specific, construction and layout of the building and whether its new or retrofit. Lack of familiarity , servicing and maintenance and spare parts availability are probable factors restraining the growth of the variable air volume system market.
Variable Air Volume System Market: Overview
With product innovation and technological developments, the acceptance of variable air volume systems is gaining popularity. The global variable air volume system market is expected to expand at a promising CAGR during the forecast period (2015-2025).
Variable Air Volume System Market: Region-wise Outlook
The global variable air volume system market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global variable air volume system market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, North America dominated the global variable air volume system market in terms of market revenue followed by Europe. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global variable air volume system market value exhibiting a robust CAGR during the forecast period, 2015?2025.
Variable Air Volume System Market: Key Players
Some of the key market participants in global variable air volume system market are Honeywell International Inc, Schneider Electric, KMC Controls Inc, Vemco Inc, Johnson Controls Inc, Trane Inc, Emerson Climate Technologies.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
The report covers exhaustive analysis on:
• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain
Regional analysis includes
• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Variable Air Volume System Market: Segmentation
The global variable air volume system market is broadly classified on the basis of product type, applications and geographies.
Based on application, the global variable air volume system market is segmented into:
• Residential
• Commercial
• Industrial
Based on product type, the global variable air volume system market is segmented into:
• Single zone VAV
• Multiple zone VAV
Report Highlights:
• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint
Examining the Factors Driving the 6.5% CAGR in the Cryogenic Systems Market
The Cryogenic Systems Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Cryogenic Systems market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Cryogenic Systems. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2032. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The Cryogenic Systems Market has experienced a remarkable surge in demand, spanning diverse industries such as electronics, healthcare, and power generation. This heightened interest can be attributed to the growing need for advanced cooling and freezing technologies. With the steady rise in LNG production and a substantial increase in gas demand from the healthcare sector, the adoption of cryogenic systems is projected to witness a further upswing in the forthcoming years.
Cryogenic Systems are expected to grow at a rate of 6.5% per year, reaching a peak in 2021. According to Future Market Insights, a market research and competitive intelligence provider, global consumption of cryogenic systems market will increase at a CAGR of about 7.8% between 2022 and 2032.
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The demand for Cryogenic Systems has increased significantly across a variety of industries, including electronics, healthcare, and power generation, which has led to a rapid growth in the market. Furthermore, due to increased LNG production and high gas demand in the healthcare industry, the use of cryogenic systems is expected to increase in the coming years.
The growing demand for cryogenic gases for medical applications will drive market expansion in the coming years. Oxygen gas, for example, is in high demand in the medical business owing to the diagnosis of respiratory illnesses. Growing medical infrastructure and extensive application across a variety of sectors are projected to drive market growth in the next years.
Key Takeaways from Market Study:
• Cryogenic Systems market is estimated to reach a valuation of US$ 13.6 Bn in 2022
• The market is projected to grow at a CAGR of 6.5% during 2022 to 2032
• LNG being the highest revenue-generating cryogen, is expected to register a market growth of 7.8%
• Cryogenic Systems revenue through Energy and Power is projected to expand at a CAGR of 5.7% during the period of projection
• The U.S. is expected to account for nearly 30% of the global Cryogenic Systems demand by 2032
Industries such as aircraft, transportation, and railroads have a high demand for Cryogenic Systems, and this trend is expected to continue in the coming years. Improvements in Cryogenic Systems insulation methods are actively contributing to market growth.
Several governments throughout the world have planned to phase out coal-based electricity by 2020 in order to reduce greenhouse gas emissions. For the reasons stated above, several nations have begun to reduce their reliance on coal and increase their use on natural gas for energy and power generation. Liquefied natural gas (LNG), which contains various segments of Cryogenic Systems such as tanks, is more pleasant to transport and is expected to boost the market throughout the projection period.
Winning Strategy:
Natural gas utilization is expanding due to its availability, environmental friendliness, and an ever-increasing energy need. The power generation industry has the highest demand for natural gas. The public is becoming increasingly concerned about the carbon footprint of modern fossil-fuel power facilities, such as coal plants. Governments throughout the globe are implementing different policies and agreements to minimize their nations’ carbon footprints as part of their environmental protection and climate change obligations. As the need for electricity grows, so does the demand for clean energy production methods, and LNG is one of the likely victors in this race.
Industrial gas applications including the use of industrial gases in the aerospace, defense, food and beverage, electronics, medical storage, and pharmaceutical production industries, among others, are driving the use of Cryogenic Systems for industrial gas applications. In addition, increased worldwide demand for energy and natural gas, rising demands for respiratory healthcare, and higher usage of both biopharmaceuticals and genetically living tissue drug treatments are all driving the Cryogenic Systems market forward.
Competitive Environment
Cryofab Inc., Emerson, Beijing Tianhai Industry Co Ltd, Graham Partners, Herose GmbH, Air Liquide, Linde Group AG, Cryoquip LLC, and Chart Industries LLC are some of the key companies in the Cryogenic Systems industry. Some of the growth tactics highlighted include mergers and acquisitions, strategic cooperation, and partnership partnerships.
Some of the recent developments in Cryogenic Systems market include:
• In June 2021, Dalian Shipbuilding Industry, a subsidiary of China State Shipbuilding Corporation, announced that it has delivered dual-fuel VLCC 2x3500m³ which is a C-type LNG cryogenic storage tank.
• In October 2020, Chemie-Tech was awarded an EPCC contract from HPCL Rajasthan Refinery Ltd (HRRL) for Cryogenic Double Wall Storage Tanks (DWST) along with the associated facilities at HPCL Rajasthan Refinery Ltd in Rajasthan, India.
Market Segments Covered in Cryogenic Systems Market Analysis:
By Cryogen:
• Nitrogen
• Oxygen
• Argon
• LNG
• Other Cryogen
By End Use:
• Energy & Power
• Chemicals
• Metallurgy
• Electronics
• Shipping
• Other End-Use
By Region:
• North America
• Latin America
• Europe
• APAC
• MEA
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