Hyperspectral Imaging System Market – Global Industry Share Report 2022

Hyperspectral Imaging System Market

According to MRFR analysis, Hyperspectral Imaging System Market will grow at CAGR of 18.10% to hit $ 15582.37 Million by 2030.

Hyperspectral imaging system has wide applications in areas such as art conservation, vegetation, water resource control, archaeology, food quality, forensic medicine, crime scene detection, and forensic medicine. HSI technology is mainly used by the defence sector, government agencies, and non-military application sectors such as agriculture and mineral.

The growth of the global hyperspectral imaging system market is boosted by various factors such as the growing industrial applications of hyperspectral imaging, Technological advancements in electronics industry, such as sensor design, high spectral resolution, high spatial resolution, compact and lightweight devices, growing prevalence of cancer, and increasing awareness of innovative diagnostics methods.

Additionally, the introduction of innovative products in the market is expected to drive the growth of the market during the forecast period. For instance, In January 2020, Specim, Spectral Imaging Ltd. (Finland), launched Specim’s new AFX10, a compact hyperspectral camera for airborne use. Specim’s new AFX10 is easy to use and can be used to check water quality, estimating the fertilizing need in agriculture, identifying vegetation species, or studying wildlife population

However, the high cost associated with the use of hyperspectral imaging and scarcity of qualified professionals is likely to hamper the growth of the market during the forecast period.

Several market players currently dominate the global hyperspectral imaging system market. The key players are engaged in product launches and strategic collaborations to strengthen their market positions.

Major Key Players:

Some of the Hyperspectral Imaging System Market Players are Headwall Photonics, Inc. (the US), Specim, Spectral Imaging Ltd. (Finland), Norsk Elektro Optikk as (NEO) (Norway), Resonon, Inc. (the US), Corning Incorporated(US), Telops (Canada), Applied Spectral Imaging(US), Bayspec, Inc.(the US), Surface Optics Corporation (US), Chemimage Corporation (US), Cubert GmbH (Germany), Raytheon (US), Galileo Group, Inc.(the US), Hypermed Imaging, Inc.(the US), Inno-Spec (Germany), Camlin Group Ltd. (UK), IMEC (Belgium), XIMEA GmbH (Germany), among others.

Segment Analysis

The Global Hyperspectral Imaging System Market has been segmented based on Product, Technology, and Application.

The market, based on product, has been divided into visible/near-infrared (VNIR), short-wave infrared (SWIR), mid-wave infrared (MWIR), long-wave infrared (LWIR). The Visible/Near-Infrared (VNIR) systems segment is likely to be the largest due to the high adoption of visible/near-infrared (VNIR) systems in various industries. The mid-wave infrared (MWIR) segment is predicted to be the fastest-growing due to increasing awareness about the rising adoption of MWIR systems in detecting volcanic vents, industrial gas leaks, or biomass burning events.

The global hyperspectral imaging system market has been segmented, based on the technology, into push broom, snapshot, and hyperspectral imaging camera others. The push broom segment is anticipated to be the largest segment during the forecast period due to the rising popularity of these devices owing to the simplified illumination requirements, minimized illumination exposure, high spectral resolution, and heat load, and the shorter capturing time.

The applications segment of the global hyperspectral imaging system market surveillance, remote sensing, machine vision/optical, and medical diagnostics. The surveillance segment is likely to hold the maximum share during the forecast period due to the rising adoption of innovative technologies in the defense sector.

Regional Analysis

The Market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas held the maximum share in the year 2018, owing to the presence of established key players in countries such as the US and Canada. The hyperspectral imaging system market in the Americas has further been categorized into North America and Latin America, with the North American market further divided into the US and Canada. The European hyperspectral imaging system market has been categorized as Western Europe and Eastern Europe. The Western European market has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The hyperspectral imaging system market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The hyperspectral imaging system market in this region is anticipated to be the fastest growing during the assessment period due to the rising mining activities, and blooming healthcare, agriculture, and biotechnology sector in the region. The hyperspectral imaging system market in the Middle East & Africa has been divided into the Middle East and Africa.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

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Email: sales@marketresearchfuture.com

Organ-on-a-chip Market Players, Size, Share, Analysis and Forecast-2030

Organ-on-a-chip Market

Organ-On-a-Chip Market (OOC) is expected to hold a value of USD 115.9 Million by 2030 at a CAGR of 11.80%.

Organs-on-chips (OOCs) are small plastic devices with biocompatible microfluidic chambers, which contain multiple live human cells in a 3D culture that simulate crucial physiological functions of body organs. These cells are placed in an environment that artificially replicates aspects of the human body, such as morphology, movement, flow, electrical stimuli, and liquid gradients.

The global organ-on-a-chip market is growing owing to various reasons, such as an increase in the number of collaborative sales agreements between pharmaceutical companies and university spin-offs and the availability of advanced models of OOCs in the market. The anticipated launch of advanced organ-specific models and human-on-chip models is expected to further increase the growth rate of this market during the review period.

Grants by government and non-government entities have been the key drivers for the global OOC industry to date. The ability of OOC models to reduce drug development costs drastically will be a key market driver, which is also expected to fuel market growth. However, stringent drug regulatory processes constitute a significant restraint for the widespread use of OOCs by pharmaceutical companies. Drug regulatory authorities scrutinize the preclinical and clinical investigational data of a drug molecule to validate and approve it. The data generated by testing the drug in animal models and humans are required for the drug approval process.

At present, the regulatory authorities do not consider the data obtained by testing the drugs on OOCs sufficient for approval. Data predicting the efficacy of a drug molecule obtained by the chips can be submitted but only along with the trial data from animal and human subjects for the approval process. These drug regulations limit the use of OCCs by end-users are expected to hinder the growth of the global organ-on-a-chip market.

Several market players currently dominate the global organ-on-a-chip market. The key players are involved in product launches and acquisitions to strengthen their market positions.

Major Key Players:

Some of the Organ-on-a-Chip Market Players are CN Bio Innovations Limited (UK), Emulate, Inc. (US), TissUse GmbH (Germany), MIMETAS BV (Netherlands), Hµrel Corporation, Nortis, Inc. (US), InSphero (Switzerland), TARA Biosystems, Inc. (US), Axosim (US), Organovo Holdings Inc. (US), BioIVT (US), and HemoShear Therapeutics, LLC (US).

Segment Analysis

The global organ on a chip market has been segmented based on organ type, application, and end-user.

The global organ-on-a-chip market has been segregated, based on organ type, into lung-on-chip, heart-on-chip, liver-on-chip, intestine-on-chip, kidney-on-chip, skin-on-chip, blood-brain barrier-on-chip, human-on-chip, and others.

The market based on application has been branched into drug discovery, toxicology research, and others. The drug discovery segment is expected to hold the largest share of the market due to the increased application of OOCs by pharmaceutical companies in drug discovery and clinical trials for the different chronic therapeutic areas. The toxicology research segment holds the second-largest share owing to increased R&D, government initiatives and funding for research institutes, and universities on OOCs in toxicology research and drug testing.

By end-user, the market has been classified as pharmaceutical companies, research organizations, and others. The pharmaceutical company’s segment is the largest segment owing to the rise in the number of pharmaceutical companies using OOCs for their R&D and drug toxicity and efficacy testing. The research organization segment is the second-largest segment owing to major universities, research organizations, non-profit research centers that are focusing on the application of OOCs in drug toxicology testing. For instance, the Wyss Institute received almost USD 5.6 million in grant money from the US FDA to use its organ-on-chip technology to test human physiological responses to radiation and to evaluate drugs designed to counter those effects in 2017.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the high prevalence of chronic diseases. The organ-on-a-chip market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European organ-on-a-chip market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The organ-on-a-chip market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific.

Asia-Pacific is the fastest-growing region in the market. This is mainly due to the increased application of OOCs for drug screening for the treatment of various chronic diseases and a supportive regulatory framework in Asia-Pacific. Such favorable factors are expected to boost market growth during the forecast period.

The organ-on-a-chip market in the Middle East & Africa has been divided into the Middle East and Africa.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

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Email: sales@marketresearchfuture.com

Peripheral Neuropathy Treatment Market Research Report- Forecast till 2030

Peripheral Neuropathy Treatment Market

The Peripheral Neuropathy Market is expected to reach USD 7,250 Million by 2030 at 9.1% CAGR during the forecast period 2022-2030.

The extensive study for diabetic peripheral neuropathy epidemiology to discover economic treatment and expansion of peripheral nerve repair devices market can aid the peripheral neuropathy market size to increase by 2030. Damaged nerves in hands, arms, and feet due to causes, such as; chemotherapy treatments and diabetes require immediate attention. The increase in awareness about peripheral neuropathy and its therapy are innovations in the field can add impetus to the market.

Major Key Players:

Bristol Myers Squibb (US), Novartis AG (UK), Abbott Laboratories (US), Pfizer Inc (US), Merck and Co. Inc. (US), GlaxoSmithKline plc (UK), F. Hoffmann-La Roche Ltd. (UK), Eli Lilly and Company (US), Cipla Limited (India), Lupin Limited (India), RxFunction, Inc. (US), and Dr. Reddy's Laboratories (India) among others are some Peripheral Neuropathy Treatment Market Players that are studied by MRFR.

Segment Analysis

The segment evaluation of the global Peripheral Neuropathy Market is based on end user, type, and treatment.

The type-based segments of the peripheral neuropathy market are idiopathic peripheral neuropathy, diabetic peripheral neuropathy (DPN), HIV/AIDS-associated peripheral neuropathy, and chemotherapy-induced peripheral neuropathy (CIPN). The segment of diabetic peripheral neuropathy (DPN) can surge as the prevalence of diabetic peripheral neuropathy among the youth with diabetes populace is observed to increase. Top-notch institutes are experimenting with safety and efficacy of latest chemotherapy-induced peripheral neuropathy (CIPN) treatment solutions. chemotherapeutic agents, such as; epothilones, vinca alkaloids, platinum drugs, taxanes, lenolidamide, and bortezomib among others are used to treat CIPN. The easy availability of these natural therapeutic moiety and increase in demand for CIPN treatment to can support market progress.

The treatment-based segments of the global peripheral neuropathy market are non-pharmacological therapies, and pharmacological therapies among others. The pharmacological therapies segment is expected to hold the majority share of the market owing to the Pharmacological therapies are primary in the peripheral neuropathy therapy and the availability of different non-pharmacological therapies can favor expansion of the market in the near future.

The end users-based segments of the peripheral neuropathy market are ambulatory centers, and hospitals and clinics among others. The hospitals and clinics segment can acquire the largest share of the worldwide market. The rise in awareness about different advanced treatments introduced in hospitals and expertise can benefit the market. The ambulatory centers segment can thrive owing to the easy availability of advanced medical technology and specialized medical services.

Regional Analysis

The peripheral neuropathy market is assessed across the Americas, the Middle East & Africa, Europe, and Asia Pacific. The Americas the peripheral neuropathy market can secure the largest share of the worldwide market in the near future. The growing amount of per capita healthcare expenditure and surge in cases of peripheral neuropathy market can impact the market in the Americas. Latin America and North America are studied extensively to understand the market dynamics. The US can rise at high pace. In Europe, peripheral neuropathy market can expand exponentially due to increase in need for economic and convenient neuropathy treatment. Asia Pacific peripheral neuropathy market can surge owing to presence of top notch therapeutic companies in the region. The rise in geriatric population and diabetic patient can support expansion of the regional market. Asia Pacific can thrive in the worldwide market at rapid pace. The peripheral neuropathy market in MEA can grow at moderate pace.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

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Email: sales@marketresearchfuture.com

Advanced Wound Therapy Devices Market Players, Industry Research Report - Global Forecast till 2030

Advanced Wound Therapy Devices Market

Advanced Wound Therapy Devices Market is projected to reach USD 11465.09 Million by 2030 at 3.8% CAGR during the forecast period 2022-2030.

Increasing incidence of diabetes is the primary driver of the market. Patients with diabetes have a slower healing rate and poor blood circulation which can negatively affect the immunity system. According to the Centers for Disease Control & Prevention (CDC), nearly 30.3 million in the U.S. suffer from diabetes. The advanced wound therapy devices market can expand by capitalizing on this trend and offering precise solutions.

The growing numbers of the geriatric populace will be highly beneficial to the market. This is buttressed by the estimation by the World Health Organization (WHO) which pegs the elderly populace at 1.2 billion by 2025. Furthermore, development of novel products and rapid approval by regulatory bodies is projected to propel the advanced wound therapy devices market. For instance, ConvaTec got approval for its negative pressure wound therapy (NPWT) system by the U.S. FDA in 2018. The hydrofiber gels in the system lock the exudates and bacteria and offer a separate channel for the them to flow away from the wounded region.

Major Key Players:

Some of the Advanced Wound Therapy Devices Market Players are Cardinal Health (U.S.), ConvaTec Inc. (U.K.), Smith & Nephew plc (U.K.), Triage Meditech Pvt. Ltd. (India), Medela AG (Switzerland), Sechrist (U.S.), Mölnlycke Health Care AB (Sweden), B. Braun Melsungen AG (Germany), DeRoyal Industries, Inc. (U.S.), Lohmann & Rauscher GmbH & Co. KG (Germany), Perry Baromedical (U.S.), and KCI Licensing, Inc. (U.S.).

Segment Analysis

The advanced wound therapy devices market is segmented by type and end-user.

By type, negative pressure wound therapy systems accounted for 42.9% share in 2017, followed by pressure relief devices (28.2%), hyperbaric oxygen equipment (15.2%), electric stimulation devices (7.9%), and others (5.8%). Negative pressure wound therapy systems can attain revenue close to USD 1,217.41 million by 2023 at 6.91% CAGR over the forecast period. But pressure relief devices are projected to experience the highest CAGR of 7.03% during the assessment period to accrue close to USD 805.35 million by 2023.

Among end-users, hospitals & clinics accounted for 73.7% share in 2017, followed by home care settings (14.5%), and others (11.8%). Hospitals & clinics can register close to 6.95% CAGR during the forecast period to generate close to USD 2,095.66 million by 2023. On the other hand, the home care settings segment is expected to exhibit 6.78% CAGR to touch a size of USD 408.50 million by the end of the forecast period

Regional Analysis

Region-wise, the advanced wound therapy devices market is segmented into Europe, Asia Pacific (APAC), Americas, and the Middle East & Africa (MEA).

The Americas are anticipated to reign as the leading region of the market owing to a mix of attractive reimbursement schemes, numerous treatment options, and prevalence of diabetes and chronic wounds. The region can accumulate close to USD 993.07 million by 2023 at 6.11% CAGR over the forecast period.

The European region is touted to register a notable growth rate owing to awareness of chronic wounds, rise in government initiatives, and awareness among healthcare providers. Presence of reputed companies such as Lohmann & Rauscher and technological advances of products can drive the regional advanced wound therapy devices market growth. The region can accrue close to USD 924.85 million by 2023 at 7.02% CAGR over the forecast period.

The APAC region is expected to be extremely lucrative for the advanced wound therapy devices market. This can be credited to high number of burn injury cases and awareness of NPWT devices. It can attain a size of USD 676.27 million by 2023 at 7.16% CAGR over the assessment period.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

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Metagenomic Sequencing Market Players, Share, Size, Trend, SWOT Analysis and Forecast to 2030

Metagenomic Sequencing Market

The Metagenomic Sequencing Market is anticipated to reach USD 1,659.22 Million by 2030 at 17.20% CAGR during the forecast period 2022-2030

Metagenomics sequencing, also known as environmental or community genomics is an approach that allows insight to be gained into community biodiversity and function. In the process of metagenomics sequencing, the DNA of the specified host microorganism is extracted and cloned directly from the microorganism using genetic analyses of DNA.

Currently, the metagenomic sequencing market is growing pervasively. The dominant factors driving this growth include the rising awareness of genetic disorders, advanced technological platforms, and the availability of improved genomic tools. Moreover, the continually dropping prices of this process are escalating the market on the global platform, encouraging people to undergo the genetic tests.

The function of metagenomic sequencing which is to sequence the genomes of untargeted cells in a community in order to elucidate community composition and function helps to understand the several types of cells in a community and what organisms are present in their physiology.

Research using the metagenomic sequencing taps into several fields due to the broad existence of large microbial communities. For instance; the study of soil microbiota has led to advances in understanding and treating plant pathogens. Whereas. In human gut microbiota, the use of metagenomics discovered how common antibiotic genes are in the gut bacteria.

The market demonstrates vast opportunities for service providers and companies with a great scope of expanding to enter the untapped regions by making these procedures affordable.

Additional factors fostering the growth of the market include the use of advanced bioinformatics tools, high throughput screening (HTS) methods, recovery of novel drugs, and the development of cost-effective technologies such as next-generation sequencing (NGS).

Major Key Players:

Global Metagenomic Sequencing Market Players include Enterome Bioscience (France), GATC Biotech AG (Germany), Aperiomics, Inc. (U.S.), Illumina Inc. (U.S.), The Mitre Corporation (U.S.), F Hoffman-La Roche Ltd. (Switzerland), Second Genome Therapeutics (U.S.), SciGenom Labs Pvt. Ltd. (India),  Quest Diagnostics Incorporated (U.S.), GenapSys, Inc. (U.S.), Freenome Inc. (U.S.), COSMOSID (U.S.), Beijing Genomics Institute (China), Pacific Biosciences (U.S.), Biomatters Ltd. (New Zealand), Oxford Nanopore Technologies Inc. (UK), Thermo Fisher Scientific Inc. (U.S.), CLC Bio (Qiagen) (Denmark), DNAStar Inc. (U.S.), Agilent Technologies Inc. (U.S.), Macrogen Inc. (South Korea), Knome Inc. (U.S.), and Helicos BioSciences (U.S.) among others.

Segment Analysis

MRFR has segmented the report into four key dynamics for an easy grasp;

By Technology: Sequencing and Bioinformatics among others.

By Application : Infectious Disease Diagnosis, Environmental Remediation, Gut Microbe Characterization, Biotechnology, Biofuel, Ecology, and Agriculture among others.

By End-user : Hospitals, Research Institutes, and Specialized Clinics among others.                                                                 

By Regions :  North America, Europe, Asia Pacific, and the Rest-of-the-World (RoW).

Regional Analysis

The North American region leads the global metagenomic sequencing market owing to the presence of global players who are focused on introducing the procedures with innovative technology. Encouraging governmental support for R&D activities in healthcare and metagenomic sequencing tests is acting as a significant tailwind that is pushing up the market.

Additional factors encouraging the growth of the market include increased uptake of advanced technologies in the next generation sequencing procedures and its increasing applications and high healthcare expenditures.

The metagenomic sequencing market in the US backed the increasing demand for metagenomic sequencing, contributes to the growth of the regional market majorly. Heading with the rising demands for metagenomic sequencing procedures, the region will create a larger revenue pocket in the global metagenomic sequencing market by 2023.

Heading with the significant advancements of technologies and their wide uptake in the medical sector, the metagenomic sequencing market in the European region holds the second position in terms of size.

Moreover, the presence of a flourishing medical devices market and rising healthcare expenditure in the region will facilitate the growth of the market. Also, factors such as support and funding from public & private sectors for research & development impacts the market growth in the region positively.

Furthermore, the availability of low-cost metagenomic and NGS procedures and their rising adoption by research laboratories are driving the growth of this market.

The Asia Pacific region heading with the increasing prevalence of genetic disorders has emerged as a promising market for metagenomic sequencing. The large unmet clinical needs are attracting the foreign investors and global players to focus on this region to expand the network that is helping them to capture major share of the market.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 646 845 9312

Email: sales@marketresearchfuture.com

Pharmaceutical Contract Manufacturing Market Global Demand, Opportunities, Key Players and Forecast to 2030

Pharmaceutical Contract Manufacturing Market

Pharmaceutical Contract Manufacturing Market to witness a CAGR of 6.0% to attain a value of USD 179.4 Billion by 2030 owing to the growing investment in R&D activities, asserts Market Research Future (MRFR). The pharmaceutical industry is experiencing a dynamic change. Pricing pressure, pipeline challenges, and emerging markets are redesigning the way companies operate. Pharmaceutical providers need to alter as well. Contract manufacturers that distinguish their abilities and offerings will be able to retain their customers and expand their business within the competitive market.

Drivers and Restraints Impacting the Market

Over the past few years, reliance on drugs and medicines have increased significantly. With increased demand for innovative drugs and limited number of blockbuster drugs, large pharmaceutical companies are trying to stay competitive by conducting faster drug development with corresponding cost containment. Moreover, after the regulatory approval of drug, companies are left with less time to deliver drug in the market in considerable quantity. Such factors are leading to greater outsourcing of manufacturing facilities to contract manufacturers. Influx of virtual and small startups with negligible manufacturing capacity is further propelling the market growth during the assessment period. Also, rising demand for next-generation biological therapies is opening doors for manufacturers, thereby driving the market across the globe.

On the flip side, lack of manufacturing standardization and capacity utilization of issues are some of the major factors impacting the profitability of pharmaceutical contract manufacturing organizations. Moreover, increasing lead time and logistics costs are creating skepticism among pharmaceutical companies. This is further impeding the market growth across the globe.

Major Key Players:

Some of the Pharmaceutical Contract Manufacturing Market Players are Grifols International, AbbVie Inc, Catalant, Patheon Inc., Lonza AG, Boehringer Ingelheim, Vetter, S.A, Pharmaceutical Product Development, and others.

Segment Analysis

The global pharmaceutical contract manufacturing market has been segmented on the basis of type.

By mode of type, the global pharmaceutical contract manufacturing market has been segmented into finished dosage formulation market, active pharmaceutical ingredient manufacturing, and others. Among these, the active pharmaceutical ingredient manufacturing dominates the global market owing to the restructuring of the pharmaceutical industry. Regulatory development in the market will let generic drug companies manufacture and develop products for export. Improvement in pharmaceutical manufacturing capabilities along with demand for specialized technologies is considered to steer few companies to return to sourcing APIs from the suppliers.

Regional Analysis

Geographically, the pharmaceutical contract manufacturing market span across regions namely, Asia Pacific, America, Europe, and the Middle East and Africa.

Among all the regions, the American region is presumed to dominate the global market due to well-developed technology, improvement in the reimbursement scenario, high expenditure on healthcare, and the presence of major market players.

Europe is considered to hold the second position in the global pharmaceutical contract manufacturing market and is estimated to maintain its dominance over the assessment period. The growth is attributed to the support provided by the government for research and development activities in this region.

The Asia Pacific region is estimated to be the fastest growing region during the assessment period owing to the rapidly improving technology and the presence of a huge patient population in this region. However, the Middle East and Africa hold the least share in the market due to the presence of slow and poor developing countries in this region.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 646 845 9312

Email: sales@marketresearchfuture.com

Electric Wheelchair Market 2022 Global Industry - Key Players, Size, Share, Trends, Opportunities, Growth Analysis and Forecast to 2030

Electric Wheelchair Market

Electric wheelchairs get power from an electric motor that comes attached with the electric wheelchair. These wheelchairs offer great mobility and are light in weight. These are very compact in size and can be used in narrow pathways. The global electric wheelchair market is expecting substantial market growth during the forecast period (2019-2023). Market Research Future (MRFR) made a claim recently that the global electric wheelchair market can surpass the existing market valuation with relative ease.

Electric Wheelchair Market size is expected to reach USD 6.43 Billion by 2030 at 6.8% CAGR during the forecast period 2022-2030.

The electric wheelchair market is expecting strong support from various pointers for a better market growth. It is expecting strong growth due to competitors participating more and more in the market to take the market ahead with their strategic moves. Its easy application is fast gaining momentum. Latest innovations are also helping the global market in its growth opportunity. However, high price and maintenance complexity can deter the global electric wheelchair market growth in the coming years.

Major Key Players:

MRFR recognizes the Electric Wheelchair Market Players are— GF Health Products, Inc. (US), Sunrise Medical (Germany), Quantum Rehab (US), Permobil AB (Sweden), Pride Mobility Products Corp (US), Invacare Corporation, Drive Medical (US), Ottobock (Germany), Levo AG (Switzerland), and Karman Healthcare, Inc. (US).

Segment Analysis

MRFR’s report of the global electric wheelchair market has an in-depth eye on segmentation that can impact the market in the coming years. Such a segmentation has its roots in the value-wise and volume-wise analysis of factors that can impact of the market.

Based on the electric wheelchair types, the electric wheelchair market comprises electric outdoor chair, electric indoor chair, center wheel drive chair, dual-purpose chair, front wheel drive chair, rear wheel drive chair, standing electric wheelchair, and others. The electric indoor chair segment has substantial market coverage. In many countries, lack of outdoor infrastructure can put some restraints on the expected market growth.

Based on the end-use, the electric wheelchair market comprises home care settings, hospitals/clinics, and others. The home care settings market is gaining remarkable coverage with many patients are looking for recovery from such setups.

Regional Analysis

Global Electric Wheelchair Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas led the market and accounted for the largest share in 2019. The technological advancement in the electric wheelchair with attachment of gadgets for control and accessibility majorly drive the market growth. Also, the rise in purchasing power, increasing geriatric population, and inclination towards more refined technology have been driving the progress of the electric wheelchair market in the region.

The European electric wheelchair market has been further segmented into Western Europe and Eastern Europe. The Western Europe electric wheelchair market has further been classified into Germany, France, the UK, Italy, Spain, and the Rest of Western Europe. Europe held the second-largest position in the electric wheelchair market with a market share of 29.3% in 2019 and anticipated to witness significant growth over the forecast period due to a higher number of patients and the availability of products in the region. Europe is also expected to have high growth in the electric wheelchair market, owing to the rising number of physically challenged people in the region.

Asia Pacific is anticipated to register the highest growth rate with a CAGR value of 8.5% over the forecast period from 2020 to 2030. According to the United Nations, across Asia, the number of people age 65 and above is expected to grow dramatically over the next 50 years. Moreover, the increasing disposable income of middle-class families, which accounts for a large population in Asia, encouraging them to spend more on health, is driving the growth of the electric wheelchairs market in the region.

The Middle East & Africa electric wheelchair market is segmented into the Middle East and Africa. The growth of the electric wheelchair market in the Middle East and Africa is growing steadily in the past few years. Increasing the prevalence of orthopedics disorders and funding by private players and government bodies is propelling the market growth in this region.

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