Americas Range Hood Market Trends, Growth Prospects To 2028: Grand View Research Inc.

 Americas Range Hood Market Growth & Trends

The Americas range hood market size is expected to reach USD 6.11 billion by 2028, registering a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. Changing lifestyles, exposure through traveling, and design innovations have set the pace for new modern standards of living. With higher spending capability as well as improved infrastructure facilities, the need for comfort in the kitchen has triggered a positive impact on the market.

The growing home values have doubled homeowner equity, indicating a trend of homeowners feeling richer and disposed towards spending money on home improvement. The online home remodeling platform Houzz reported a 58% uptick in the project leads for home professionals in June 2020, as compared to the same month the previous year. Similarly, kitchen and bath remodeling projects picked up by 40%, according to the agency. According to Home Improvement Research Institute (HIRI), home improvement spending by Americans was likely to reach USD 439.9 billion in 2020, incurring a rise of 8.7% in spending.

With an increasing number of families considering the kitchen as a central gathering place in the home, the focus on renovating and improvising the area has been growing. For instance, the 2019 U.S. Houzz Kitchen Trends Study found that spending on both median and large kitchen remodels increased by 10% from 2018. Furthermore, an increasing number of millennials are buying homes, particularly older homes that require more repairs. According to studies by HomeAdvisor, millennials are investing in a greater number of home improvement projects each year compared to other age groups.

The increasing infrastructural developments, as well as new building permits in the region, are expected to boost the market growth. According to the U.S. Census Bureau, privately-owned housing units authorized by building permits in November 2020 were at a seasonally adjusted annual rate of 1,639,000. This is 6.2% (±1.5 percent) above the revised October rate of 1,544,000 and is 8.5% (±1.8 percent) above the November 2019 rate of 1,510,000. Moreover, rapid construction in the commercial segment, particularly the hospitality sector, is also driving the demand for kitchen range hoods. The hotel industry is a key supporting factor to the region’s hospitality sector, driving the construction of more hotels. The booming tourism and real estate industries, accompanied by various infrastructural developments in the hospitality sector, will continue to spur the market for kitchen ventilation over the forecast period.

Under-cabinet product held over 42.7% of the Americas range hood revenue in 2020. These are the most common range hoods as the design of an under-cabinet venting system is simple and versatile to fit any kitchen style or design. The current trend of open shelves in a kitchen, as opposed to upper cabinets, is drawing more attention toward the installation of such range hoods. New trends and innovation in range hoods have created immense opportunities in the market concerning product installation and design. For instance, AKDY, a manufacturer of high-end kitchen and bath appliances, introduced the Under Cabinet Range Hood Collection containing detailed 3D drawings that can be used in kitchen remodeling projects.

The key companies of the industry include Whirlpool Corporation, Broan-NuTone, LLC, GE Appliances, a Haier company, Robert Bosch GmbH, Haube Range Hood Co., KOBE Range Hoods, Victory Range Hoods, Proline Range Hoods, Faber US and Canada, and Vent-A-Hood® Ltd.

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Americas Range Hood Market Report Highlights

• Canada is expected to register the fastest CAGR of 4.5% from 2021 to 2028. Steady growth in the number of foodservice joints and residential construction projects are the main factors driving the demand for range hoods
• Kitchen stops distribution channel dominated the market by contributing over 57.7% in the revenue in 2020
• The residential end-user segment held the largest market share in 2020, contributed more than 85.7% of the total revenue owing to its higher penetration across households

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Americas Range Hood Market Segmentation

Grand View Research has segmented the Americas range hood market based on product, end-user, distribution channel, and region:

Americas Range Hood Product Outlook (Revenue, USD Million, 2016 - 2028)

• Under Cabinet
• Wall Mounted
• Ceiling Mount

Americas Range Hood End-user Outlook (Revenue, USD Million, 2016 - 2028)

• Residential
• Commercial

Americas Range Hood Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

• Online
• Kitchen Stops
• Supermarkets & Hypermarkets
• Specialty Stores
• Local Kitchenware Shops

Americas Range Hood Regional Outlook (Revenue, USD Million, 2016 - 2028)

• US.
  • Northeast
  • Southeast
  • Southwest
  • Midwest
  • West
• Canada
  • Toronto
  • Montreal
  • Calgary
  • Ottawa
• South America
  • Brazil

List of Key Players of Americas Range Hood Market

• Whirlpool Corporation
• Broan-NuTone, LLC
• GE Appliances, a Haier Company
• Robert Bosch GmbH
• Haube Range Hood Co.
• KOBE Range Hoods
• Victory Range Hoods
• Proline Range Hoods
• Faber US and Canada
• Vent-A-Hood® Ltd.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

U.S. Faucet Market Is Expected To Gain Significant Traction Over The Forecast Period: Grand View Research Inc.

 U.S. Faucet Market Growth & Trends

The U.S. faucet market size is anticipated to reach USD 4.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.8% from 2021 to 2028. Rising demand for home furnishings and fittings is driving the market. According to the Leading Indicator for Remodeling Activity (LIRA), home improvement spending grew at 6.0% annually in 2019.

The growing construction of smart homes and smart bathrooms can be attributed to an increasing number of consumers showing a preference for a spa-like experience at home. Digital faucets that operate on sensors serve as a means of conserving water and energy through different features such as reduced tap flow, digital temperature control settings, touchless technology, infrared tap technology, and timed settings.

The U.S. EPA WaterSense label on sink faucets and accessories indicates that they use a maximum of 1.5 gallons of water per minute, which reduces a sink’s water flow by 30.0% compared to a standard flow of 2.2 gallons per minute. Thus, rising consciousness among consumers to save water is driving the demand for smart bathroom fittings and digital taps.

The COVID-19 pandemic has shaken every sector across the globe, and the hotel industry is among the hardest hit. The market in the commercial sector has been impacted on account of travel bans and lockdowns. The overall travel business has witnessed a considerable decline as a result of continued health concerns from the prolonged pandemic and a weakened economy, which hits many small companies. As the disease prevails and economic uncertainty remains, there is a significant reduction in business travel (in terms of both trips and expenditure) as compared to pre-COVID-19 times. Reduced travels have affected the travel and hospitality industry immensely, thereby affecting the market.

The commercial segment is estimated to be the largest and fastest-growing segment in the coming years. Many players are offering premium and luxury taps, specially designed for the commercial sector. Moen Incorporated offers a wide variety of taps for the commercial sector and some of the latest innovations include M-Power, M-Dura, M-Press, and M-Bition. Similarly, Delta Faucet Company offers innovative commercial faucets for the hospitality sector.

The kitchen segment is estimated to be the fastest-growing segment. The increasing adoption of high-tech faucets is supporting the growth of the segment. According to Houzz, 57.0% of the homeowners had updated kitchen taps as part of a completed, current, or planned 2018-19 kitchen renovation. Out of these, 30.0% opted for water-efficient faucets, 24.0% opted for no fingerprint coatings faucets, and 22.0% preferred touch-only taps. The growing adoption of pull-out and pull-down faucets in order to achieve maximum reach and increase flexibility drives the demand for kitchen taps among millennials.

Companies such as Franke Kitchen Systems provide faucets that are outfitted and can be switched between the needle and full water spray, and swivel 360 degrees. The Franke 3-in-1 faucet is created to provide cold, hot, and distilled water for ensuring the use of pure and suitable temperature water in the kitchen.

Multi-brand retailers are the largest shareholder in the distribution channel segment. Corporate firms, government organizations, and large builders prefer direct association with faucet manufacturers. For this purpose, annual contracts and tenders are released for a continuous supply of taps. As these B2B sales require proper interaction for a better understanding of minute details, offline sales for commercial applications have been dominating the market.                            

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U.S. Faucet Market Report Highlights

• The commercial segment accounted for a revenue share of 67.1% in 2020 and is expected to witness a CAGR of 5.0% over the forecast period
• The kitchen segment is expected to expand at the fastest CAGR of 5.6% from 2021 to 2028 and will be valued at USD 1,551.7 million by 2028
• The multi-brand retailer segment was the largest segment in 2020 and was valued at USD 1,871.9 million, ascending with a CAGR of 4.6% over the forecast period
• The west region of the U.S. was valued at USD 776.7 million in 2020, ascending with a CAGR of 5.5% over the forecast period, thereby expected to be valued at USD 1,193.5 million by 2028

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U.S. Faucet Market Segmentation

Grand View Research has segmented the U.S. faucet market on the basis of end-user, application, distribution channel, and region:

U.S. Faucet End-user Outlook (Revenue, USD Million, 2016 - 2028)

• Residential
• Commercial

U.S. Faucet Application Outlook (Revenue, USD Million, 2016 - 2028)

• Kitchen
• Bathroom
• Others

U.S. Faucet Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

• E-commerce
• Multi-brand Retailers
• Local Plumbing Supply Stores

U.S. Faucet Regional Outlook (Revenue, USD Million, 2016 - 2028)

• Northeast
• Southwest
• Midwest
• West
• Southeast

List of Key Players of U.S. Faucet Market

• Kohler Co
• Kraus, USA
• American Standard Brands
• GROHE America Inc.
• Pfister
• Delta Faucet Company
• Moen Incorporated
• AquaSource Faucet

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Non-destructive Testing Market is Expected to Amplify USD 22.9 Billion Value by 2028: Grand View Research Inc.

 Non-destructive Testing Market Growth & Trends

The global non-destructive testing market size is anticipated to reach USD 22.9 billion by 2028, registering a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to witness significant growth over the forecast period. The growth is ascribed to the increasing manufacturing in the developing as well as developed nations.

The use of non-destructive testing (NDT) helps in detecting the faults precisely, reducing the product/component failure probability as well as costs incurred in the repairs of the components. The use of NDT also speeds up the process of manufacturing as the possible faults are eliminated beforehand. The key factor expected to drive the market is the technological advancements in non-destructive testing methods. Improvements in the techniques have ensured deviation-free fault detection and have reduced the complexity involved in the testing procedures considerably.

The ultrasonic testing segment is expected to witness significant growth. This growth is ascribed to the ease of handling the equipment, availability of skilled technicians, and precise fault detection. The manufacturing segment is expected to deploy NDT techniques extensively over the forecast period owing to the increasing awareness regarding their use.

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Non-destructive Testing Market Report Highlights

• The market is expected to exhibit a CAGR of 6.7% over the next eight years owing to a rise in manufacturing-related activities, globally
• The services segment accounted for the largest revenue share of over 73.0% in 2020. The high upfront cost of non-destructive equipment coupled with technical complexities involved in their deployment/installation is the major reason influencing end-users to outsource their non-destructive testing operations
• Rapid industrialization, especially in developing economies has significantly contributed to the growth of the market
• The ultrasonic testing segment is expected to witness a significant CAGR of 7.5% over the forecast period owing to the benefits such as ease of handling and precise results
• The manufacturing vertical segment was the dominant segment in 2020 and is expected to witness a healthy CAGR of more than 7.6% over the forecast period owing to the increased manufacturing activities primarily in Asia Pacific
• North America dominated the market in 2020 and accounted for the largest revenue share of more than 35.0%, owing to the extensive adoption of NDT techniques in the region

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Non-destructive Testing Market Segmentation

Grand View Research has segmented the non-destructive testing market based on offering, test method, vertical, and region:

NDT Offering Outlook (Revenue, USD Million, 2016 - 2028)

• Services
• Equipment

NDT Method Outlook (Revenue, USD Million, 2016 - 2028)

• Visual Testing
• Magnetic Particle Testing
• Liquid Penetrant Testing
• Eddy Current Testing
• Ultrasonic Testing
• Radiographic Testing

NDT Vertical Outlook (Revenue, USD Million, 2016 - 2028)

• Oil & Gas
• Manufacturing
• Aerospace and Defense
• Construction
• Automotive
• Power Generation
• Others

NDT Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players of Non-destructive Testing (NDT) Market

• Ashtead Technology Ltd.
• Eddyfi
• Fischer Technologies Inc.
• General Electric
• Nikon Metrology Inc.
• Mistras Group, Inc.
• Olympus Corporation
• Sonatest
• YXLON International GmbH
• Zetec Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Iron Oxide Pigments Market to Witness a Pronounce Growth During 2021 – 2028

 Iron Oxide Pigments Market Growth & Trends

The global iron oxide pigments market size is expected to reach USD 3.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. Iron oxide pigments are widely used in various applications such as construction, coatings, plastics, and paper. The growing construction industry across the globe, notably in the fast-emerging regions including Asia Pacific, is anticipated to fuel the demand for iron oxide pigments over the forecast period.

Red and yellow iron oxide pigments are mixed with concrete for their use in construction applications. Red iron oxide pigments led the market and accounted for more than 42.0% share in terms of revenue in 2020. This is on account of their pure hue, tinting strength, light fastness, and consistent properties. The construction application segment led the market and accounted for more than 45.0% share of the global revenue in 2020.

Synthetic iron oxide pigments emerged as the dominant product segment in 2020 and are anticipated to maintain their lead over the forecast period. The highly stable nature and good strength of synthetic iron oxide pigments are paving the way for their use in various applications, including construction and coatings. In the construction industry, these pigments are used to manufacture pavement blocks, stamped concrete, designer tiles, and colored concrete products among others. Thus, the growing construction industry is anticipated to create ample opportunities for iron oxide pigments in the coming years.

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Iron Oxide Pigments Market Report Highlights

• Based on product, the synthetic segment led the market and accounted for more than 69.0% share of the global revenue in 2020 owing to its good strength and highly stable nature
• By application, the construction segment held the largest share in 2020 and is anticipated to maintain its lead over the forecast period
• Asia Pacific accounted for the largest share of more than 39.0% in 2020 and is projected to witness significant growth over the forecast period owing to the rapid expansion, especially in China, India, and Southeast Asia

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Iron Oxide Pigments Market Segmentation

Grand View Research has segmented the global iron oxide pigments market on the basis of product, color, application, and region:

Iron Oxide Pigment Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Synthetic
• Natural

Iron Oxide Pigment Color Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Red
• Yellow
• Black
• Blends

Iron Oxide Pigment Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Construction
• Coatings
• Plastics
• Paper
• Others

Iron Oxide Pigment Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
• Central & South America
• Middle East & Africa

List of Key Players of Iron Oxide Pigments Market

• Huntsman International LLC
• Venator Materials PLC
• Applied Minerals, Inc.
• CATHAY INDUSTRIES
• Lanxess
• BASF SE
• KRONOS Worldwide, Inc.
• Hunan Sanhuan Pigment Co., Ltd.
• Titan Kogyo, Ltd. (Titanium Industry Co., Ltd.)

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Insurtech Market Size Is Expected To Reach USD 60.98 Billion by 2028

 Insurtech Market Growth & Trends

The global insurtech market size is expected to reach USD 60.98 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 48.8% from 2021 to 2028. The market growth can be attributed to the increasing need to understand the behavior of policyholders. The insurtech solutions and services are widely used by insurance companies to build the with insureds.

The increasing adoption of predictive analytics and data analytics to provide effective customer experiences is expected to fuel the market growth. Numerous insurance companies are adopting these analytics services in various areas, such as fraud identification and claim triage. These services enable insurance companies to prioritize claim management applications.

Artificial Intelligence (AI)-driven analytics services are helping insurers to process their claims in a very short time. These services are acting as a preventative measure against human errors, delays, and consumer dissatisfaction. Moreover, insurers are using external data sources and adding specifics about a claimant from images and social media channels.

The outbreak of the COVID-19 pandemic is expected to favorably impact the market. The pandemic has driven the sense of urgency for insurance companies of all sizes to hasten their digital transformation operations and collaborate with their partners who were their former competitors. The digital transformation is expected to help insurance companies in reducing operating costs, shielding themselves from forthcoming crisis disruption, and serving customers seamlessly.

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Insurtech Market Report Highlights

• The increasing awareness about healthy lifestyle habits across the globe is expected to create growth opportunities for insurance companies in the health domain
• Increasing usage of intelligent machines and the rise of automation in the field of insurtech are expected to propel the adoption of managed services in various end-use industries
• The blockchain technology segment is expected to witness significant growth over the forecast period. The segment growth can be attributed to the rising adoption of this technology to reduce fraudulent claims in the insurance industry. This technology also helps insurance companies reduce operational costs of reinsurers and allows them to collect verified real-time data from insurers
• Political and consumer trends are forcing the healthcare industry to become more transparent about pricing, and with startups pioneering new approaches in the insurance category is expected to drive the segment growth over the forecast period
• The North American region is witnessing an increasing demand for better communication, seamless data sharing, and high integration between insurers and service providers for improved customer engagement

Access Press Release@ https://www.grandviewresearch.com/press-release/global-insurtech-market

Insurtech Market Segmentation

Grand View Research has segmented the global insurtech market based on type, service, technology, end-use, and region:

Insurtech Type Outlook (Revenue, USD Million, 2016 - 2028)

• Auto
• Business
• Health
• Home
• Specialty
• Travel
• Others

Insurtech Service Outlook (Revenue, USD Million, 2016 - 2028)

• Consulting
• Support & Maintenance
• Managed Services

Insurtech Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Blockchain
• Cloud Computing
• IoT
• Machine Learning
• Robo Advisory
• Others

Insurtech End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Automotive
• BFSI
• Government
• Healthcare
• Manufacturing
• Retail
• Transportation
• Others

Insurtech Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

List of Key Players of Insurtech Market

• Damco Group
• DXC Technology Company
• Insurance Technology Services
• Majesco
• Oscar Insurance
• Quantemplate
• Shift Technology
• Trōv, Inc.
• Wipro Limited
• Zhongan Insurance

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Light Gauge Steel Framing Market – How the Market Will Witness Substantial Growth in the Upcoming years?

 

Light Gauge Steel Framing Market Growth & Trends

The global light gauge steel framing market size is expected to reach USD 48.21 billion by 2028, registering a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. The development of advanced materials with capabilities that offer safety as well as strong structural support will augment the market growth over the forecast years.

The use of these framing products provides ease of installation along with a reduction in the cumulative project completion period owing to pre-fabricated structures, which is anticipated to drive product demand significantly over the next few years. The need to lower the production costs involved in the construction of buildings is also estimated to be one of the key factors responsible for market growth.

The rising need to reduce the cost is projected to result in the development of refined materials and manufacturing processes, ultimately increasing product adoption across the globe. Over the coming years, the product is estimated to have an increased scope of application in commercial buildings owing to improved strength of framing material, facilitating its use in the construction of buildings with more than three floors.

The Covid-19 pandemic has had a significant impact on the market in 2020. Several manufacturing companies reported a notable drop in their revenues for Q1 and Q2 of the year 2020. However, the market witnessed growth in the latter part of Q3 and the beginning of Q4 of 2020. Key players in the market emphasize more on expanding their market presence through mergers and acquisitions.

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Light Gauge Steel Framing Market Report Highlights

• The skeleton product type segment is expected to witness the fastest CAGR of more than 5% over the forecast period
• The segment growth can be credited to the benefits offered by the skeleton product types, in terms of strength and safety
• Governments across the globe have undertaken several initiatives for infrastructure development boosting the construction of commercial properties, which has subsequently contributed to the growth of the overall market
• The residential end-use segment led the global market accounting for the highest revenue share in 2020 and is expected to grow at a healthy CAGR from 2021 to 2028
• This growth is attributed to the increased product adoption in the residential construction sector on account of the rising need to reduce the overall project completion periods
• Asia Pacific was the dominant regional market in 2020 and will retain its leading position throughout the forecast period owing to the increasing construction activities of new commercial and industrial buildings

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Light Gauge Steel Framing Market Segmentation

Grand View Research has segmented the global light gauge steel framing market on the basis of type, end-use, and region:

Light Gauge Steel Framing Type Outlook (Revenue, USD Billion, 2017 - 2028)

• Skeleton
• Wall Bearing
• Long Span

Light Gauge Steel Framing End-use Outlook (Revenue, USD Billion, 2017 - 2028)

• Commercial
• Residential
• Industrial

Light Gauge Steel Framing Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

List of Key Players of Light Gauge Steel Framing Market

• Hadley Group
• Clarkwestern Dietrich Building Systems LLC
• Precision Walls Inc.
• QSI Interiors Ltd.
• Metek U.K. Ltd.
• Intelligent Steel Solutions Ltd.
• FRAMECAD Ltd.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Dry Eye Treatment Devices Market to Witness Tremendous Growth and Expansion by 2028

 Dry Eye Treatment Devices Market Growth & Trends

The global dry eye treatment devices market size is estimated to reach USD 414.2 million by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.3% over the forecast period. The increasing demand for targeted, non-invasive, faster, and patient compliant treatment methods to alleviate dry eye symptoms are the factors expected to drive the market growth during the forecast period.

The rising incidence of causative risk factors such as over usage of contact lenses, prolonged exposure to digital screens, diabetes, glaucoma, and Sjogren's syndrome globally is anticipated to propel the growth of the market. For instance, Americans are estimated to spend an average time of more than 10 hours a day at visual display terminals.

The increasing number of clinical and research activities conducted to evaluate the safety and efficacy of advanced dry eye treatment devices such as IPL and BBL will boost market growth. The application of these advanced technologies in eye care is at a nascent stage in many countries, thereby clinical evidence is essential to increase provider confidence over its acceptance. Besides, clinical studies of these technologies are showing promising results in comparison with conventional treatment methods in dry eye treatment.

The availability of alternative treatment, high cost of IPL/BBL treatment, numerous contraindications associated with IPL, and lack of an efficient health insurance policy in several countries are the factors rendering the growth of the dry eye treatment devices market. For instance, the treatment of dry eye syndrome using intense pulsed light (IPL) is not covered under the NHS, a major provider of healthcare service in the U.K.

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Dry Eye Treatment Devices Market Report Highlights

• The MGX technology held the largest market share in 2020 owing to the factors such as frequent product launches, cost-effectiveness, and improving accessibility
• IPL and Combination (IPL+MGX) technologies are expected to grow at the fastest rate during the forecast period due to the factors such as the development of economical and compact-sized IPL devices having versatility in treating skin tone of all types have boosted its installation rate in clinics and ophthalmic centers
• North America held the largest market share in the market and is anticipated to maintain its dominance over the forecast period, attributable to the growing prevalence of dry eye disease, increasing R&D expenditure, and many ophthalmology trade conferences and expos conducted in the U.S. and Canada
• Some of the prominent companies are Lumenis; ESW Vision; Johnson & Johnson Services, Inc.; MiBo Medical Group; Alcon; and Sight Sciences

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Dry Eye Treatment Devices Market Segmentation

Grand View Research has segmented the dry eye treatment devices market based on technology and region:

Dry Eye Treatment Devices Technology Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Broadband light (BBL)
• Intense Pulsed Light (IPL)
• Meibomian Gland Expression (MGX)
• Combination (MGX+IPL)

Dry Eye Treatment Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of the Dry Eye Treatment Devices Market

• MiBo Medical Group
• Sight Sciences
• Lumenis
• ESW Vision
• Johnson & Johnson Vision Care
• Alcon, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Transplantation Market Will See Strong Expansion Through 2028: Grand View Research Inc.

 Transplantation Market Growth & Trends

The global transplantation market size is expected to reach USD 26.5 billion by 2028, growing at a CAGR of 11.5%, according to a new report by Grand View Research, Inc. Growing incidence of organ failure has resulted in high demand for transplantation procedures, which is boosting the market growth. Rising demand for transplant products, such as tissue products, immunosuppressants, and organ preservation solutions, is also a major factor driving the market. Many biotechnology and medical device companies are concentrating on the development of advanced transplant products for the management of organ failure.

Thus, technological advancement and the development of novel & improved transplant products, such as surgical instruments, have majorly contributed to the expansion of the market. In addition, the introduction of advanced tissue products, such as DeNovo NT Graft, Chondrofix Osteochondral Allograft, and DuraMatrix Collagen Dura Substitute Membrane, provides higher benefits during treatment. Furthermore, computerized support systems with advanced systems and software allow easy & effective maintenance of tissues. Thus, the availability of such advanced techniques supports market growth.

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Transplantation Market Report Highlights

• The tissue products segment accounted for the largest revenue share in 2020 due to increased demand for tissue and organ transplant procedures
• The tissue products segment is expected to expand further at a significant CAGR from 2021 to 2028 owing to the advancements in transplantation products
• The tissue transplant segment held the largest revenue share in 2020 on account of the high demand for tissue transplant procedures worldwide
• The transplant centers segment is projected to record the fastest CAGR during the forecast period owing to the rising popularity of these centers for transplant procedures
• The hospitals segment dominated the market, in terms of revenue share, in 2020 owing to a large number of transplant procedures performed in hospitals
• North America was the leading regional market in 2020 and is projected to maintain its dominance during the forecast period owing to the presence of well-developed healthcare infrastructure in the region
• The presence of a large number of research laboratories, biotechnology, and medical device companies inNorth America is also one of the key factors contributing to the region’s growth

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Transplantation Market Segmentation

Grand View Research has segmented the global transplantation market on the basis of product type, application type, end-use, and region:

Transplantation Product Type Outlook (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• Tissue Products
• Immunosuppressive Drugs
• Preservation Solutions

Transplantation Application Type Outlook (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• Organ Transplant
• Tissue Transplant

Transplantation End-use Outlook (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• Hospitals
• Transplant Centers
• Others

Transplantation Regional Outlook (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia

List of Key Players of Transplantation Market

• Stryker Corp.
• Medtronic PLC
• AbbVie Inc.
• Zimmer Biomet
• Novartis International AG
• 21st Century Medicine
• Biolife Solutions
• Teva Pharmaceutical
• Veloxis Pharmaceuticals

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Clinical Trial Imaging Market Latest Trends, Industry Growth And Forecast To 2028: Grand View Research Inc.

 Clinical Trial Imaging Market Growth & Trends

The global clinical trial imaging market size is expected to reach USD 1.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. The increasing R&D spending to develop new drugs and therapies to treat chronic diseases is propelling the market growth.

Clinical trial imaging makes use of imaging technology in clinical trials for seeing the interior parts of the body. The images obtained from clinical trial imaging are used to examine drug activity. Clinical trial imaging provides rapid, detail, and precise screening. The use of clinical trial imaging has rapidly increased in all phases of the clinical trials. Medical imaging in clinical trials is used as a primary, quantitative, and surrogate biomarker.

The clinical trial design includes selecting patient population, stratification based on biomarkers, different methods for allocation treatments, choosing efficient and reliable endpoints and validation of surrogate endpoints, calculating sample size, trial simulations, adaptive trial set-up, statistical and interim analysis, and assisting clients to deal with regulatory authorities, such as EMA and FDA, to discuss study design or defend study results.

Market players provide analytical testing services, pharmacokinetic, reading, and pharmacodynamics services for enhanced clinical development. IXICO offers advanced technologies for catalyzing clinical trials in neuroscience. Imaging biomarkers by the company help in measuring the safety and effectiveness of therapies used for neuroimaging. Imaging biomarkers are effective in radiological reads. This provides a radiological reading of MRI scans for central neuro to enhance the assessment of ongoing monitoring of drug safety and subject eligibility.

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Clinical Trial Imaging Market Report Highlights

• Based on service, project and data management services held the largest share in 2020 due to the growing requirement of data management and workflow for clinical trial imaging
• Operational imaging services held a significant share in 2020. They include imaging modalities such as MRI, CT scan, X-ray, ultrasound, OCT, PET, and SPECT. CT scan modality is gaining popularity due to its non-invasive nature and its ability to provide detailed information about the disease for enhanced treatment
• The others application segment held the largest share in 2020. This segment includes oncology, neurology, and musculoskeletal. Market players such as ICON, Bioclinica, Navitas Life Sciences, and Paraxel International are developing their clinical trial imaging services for these applications
• By end-use, CROs held the largest share in 2020 due to increasing investments in the field of research and development and snowballing outsourcing activities by the pharmaceutical and biotechnology companies to cut down the cost and time and patent expiration
• North America dominated the market in 2020 due to the increasing geriatric population, rising chronic diseases, and growing demand for treatment options

Access Press Release@ https://www.grandviewresearch.com/press-release/global-clinical-trial-imaging-market

Clinical Trial Imaging Market Segmentation

Grand View Research has segmented the global clinical trial imaging market based on service, application, end-use, and region:

Clinical Trial Imaging Service Outlook (Revenue, USD Million, 2016 - 2028)  

• Clinical Trial Design and Consultation Services
• Reading and Analytical Services
• Operational Imaging Services
  • Computed Tomography (CT) Scan
  • MRI (Magnetic Resonance Imaging)
  • X-Ray
  • Ultrasound
  • Optical Coherence Tomography (OCT)
  • Others
• System and Technology Support Services
• Project and Data Management

Clinical Trial Imaging Application Outlook (Revenue, USD Million, 2016 - 2028)      

• NASH
• CKD
• Diabetes
• Cardiovascular Diseases
• Others

Clinical Trial Imaging End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Biotechnology and Pharmaceutical companies
• Medical Devices Manufacturers
• Academic and Government Research Institutes
• Contract Research Organizations (CROs)
• Others

Clinical Trial Imaging Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • India
  • China
  • Japan
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Clinical Trial Imaging Market

• Parexel International Corporation
• Intrinsic Imaging
• Bioclinica Inc.
• Icon PLC
• Radiant Sage
• Navitas Life Sciences
• Resonance Health
• IXICO PLC
• Medpace

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Sternal Closure Systems Market Will See Strong Expansion Through 2028: Grand View Research Inc.

 Sternal Closure Systems Market Growth & Trends

The global sternal closure systems market size is expected to reach USD 3.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. The market is driven by the growing number of surgeries undertaken to treat complex cardiovascular problems. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC), around 30.3 million or 12.1% of U.S. adults were diagnosed with heart disease in 2018.

The National Health Interview Survey conducted by CDC in 2016 concluded that 28.1 million people were diagnosed with heart-related disorders including, valvular heart disease, cardiac arrest. Moreover, technological advancements such as Talon systems, double sternal wires, and favorable reimbursement criteria would propel growth in the near future.

Mergers and acquisitions, new product development, and geographical expansion are key sustainability strategies adopted by players in the market. For instance, in December 2020, Zimmer Biomet Holdings Inc., acquired A&E Medical Corporation to gain access to its product portfolio, ensuring long-term growth.

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Sternal Closure Systems Market Report Highlights

• North America dominated the market in 2020, attributed to the presence of a large number of players and high competitive rivalry in the market
• By product, the closure devices segment held major shares of the market in 2020, owing to the introduction of technologically advanced clips and wires globally and favorable reimbursement regulations offer by developed regions such as North America and Europe
• By procedure, the median sternotomy segment dominated the market in 2020, as it is among the frequently performed osteotomies worldwide
• By material, the PEEK segment is anticipated to post significant growth over the coming years due to several benefits offered by the material, including biocompatibility, chemical resistance, end-product purity, high-temperature resistance, and thermoformable nature

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Sternal Closure Systems Market Segmentation

Grand View Research has segmented the global sternal closure systems market based on product, procedure, material, and region:

Sternal Closure Systems Product Outlook (Revenue, USD Million, 2016 - 2028)

• Closure Devices
  • Wires
  • Plates and Screws
  • Clips
  • Cables
• Bone Cement

Sternal Closure Systems Material Outlook (Revenue, USD Million, 2016 - 2028)

• Titanium
• Polyether Ether Ketone (PEEK)
• Stainless Steel
• Others

Sternal Closure Systems Procedure Outlook (Revenue, USD Million, 2016 - 2028)

• Median Sternotomy
• Hemisternotomy
• Bilateral Thoracosternotomy
• Others

Sternal Closure Systems Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa

List of Key Players of Sternal Closure Systems Market

• Zimmer Biomet
• Johnson & Johnson
• Braun Melsungen AG
• Orthofix Holdings, Inc.
• GE Healthcare
• KLS Martin Group
• A&E Medical Corporation
• Jace Medical, LLC
• Acute Innovations
• Abyrx, Inc.
• Kinamed Incorporated

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Biopharmaceuticals Contract Manufacturing Market is Estimated to Register at a CAGR of 5.7% During The Forecast Period

 

Biopharmaceuticals Contract Manufacturing Market Growth & Trends

The global biopharmaceuticals contract manufacturing market size is expected to reach USD 25.1 billion by 2028 registering a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Growing biopharmaceutical pipeline and lack of adequate manufacturing capabilities are two key factors that are driving partnership between large molecule manufacturers and Contract Manufacturing Organizations (CMOs). Contract manufacturers are engaged in broadening their service portfolio to meet the company demands with respect to regulatory standards and new services.

The reliance of companies on CMOs for the production of biologics and biosimilars is expected to rise over the forecast period as a consequence of changes adopted by the CMOs. This is evident through growing investment in collaborations of companies with CMOs as well as continuous efforts taken up for expanding the service portfolio.

The supply chain of biopharmaceuticals remained robust and was largely unaffected worldwide during the coronavirus outburst. Also, biopharmaceutical contract manufacturers are observing increased demand related to the Covid-19 vaccine and therapeutics. Thus, the future holds numerous opportunities for the global market. For instance, in 2020, AstraZeneca and Oxford Biomedica signed a one-year clinical and commercial supply agreement for the manufacturing of AstraZeneca’s Covid-19 vaccine candidate, AZD1222.

The future growth of CMOs is highly dependent on the promising opportunities offered by the biopharmaceutical industry, the bioprocessing industry, and the contract service industry. Expansion of fill-and-finish services and increasing robustness of venture capital investments for the life science sector are two important opportunities that are anticipated to drive the market. For instance, in 2019, Shanghai HaiHe Biopharma Co. Ltd. raised USD 146.6 million as venture capital for its large cancer drug portfolio, which they shall utilize along with their outsourcing partner Zhejiang Jiuzhou Pharmaceutical Co., Ltd.

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Biopharmaceuticals Contract Manufacturing Market Report Highlights

• Mammalian-based biopharmaceutical contract manufacturing captured the largest market share of over 59% in 2020 owing to the high penetration of mammalian expression system for biologics development
• Out of all the services offered in this market, process development contributed to the largest share in 2020 owing to high capital investment, especially in the downstream process
• The complexities associated with regulatory approval and good manufacturing practice pronounces the demand for the established contract manufacturers to ensure compliance with regulatory standards
• The biologics contract manufacturing segment dominated the global market in 2020 owing to higher demand for biologics production
• However, the biosimilar segment is estimated to register the fastest CAGR from 2021 to 2028 due to cost-saving advantages associated with biosimilars development
• North America was the dominant regional market in 2020 due to the presence of an effective regulatory framework for biologics development in the U.S.
• However, Asia Pacific is expected to emerge as the fastest-growing regional market from 2021 to 2028 owing to emerging countries, such as India and China, incorporating developments to sustain the competition
• Several international companies are seeking outsourcing of biopharmaceutical production to Asian countries owing to the continuous expansion of Asian CMOs that offer services at a less price, as compared to the service providers based in western countries

Access Press Release@ https://www.grandviewresearch.com/press-release/global-biopharmaceuticals-contract-manufacturing-market

Biopharmaceuticals Contract Manufacturing Market Segmentation

Grand View Research has segmented the global biopharmaceuticals contract manufacturing market on the basis of source, service, product, and region:

Biopharmaceuticals Contract Manufacturing Source Outlook (Revenue, USD Million, 2016 - 2028)

• Mammalian
• Non-mammalian

Biopharmaceuticals Contract Manufacturing Service Outlook (Revenue, USD Million, 2016 - 2028)

• Process Development
  • Downstream
  • Upstream
• Fill & Finish Operations
• Analytical & QC Studies
• Packaging

Biopharmaceuticals Contract Manufacturing Product Outlook (Revenue, USD Million, 2016 - 2028)

• Biologics
  • Monoclonal Antibodies (MABs)
  • Recombinant Proteins
  • Vaccines
  • Antisense, RNAi, & Molecular Therapy
  • Others
• Biosimilars

Biopharmaceuticals Contract Manufacturing Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • France
• Asia Pacific
  • China
  • India
• Latin America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players in Biopharmaceuticals Contract Manufacturing Market

• Boehringer Ingelheim GmbH
• Lonza
• Inno Biologics Sdn Bhd
• Rentschler Biotechnologie GmbH
• JRS Pharma
• AGC Biologics
• ProBioGen
• Fujifilm Diosynth Biotechnologies U.S.A., Inc.
• Toyobo Co., Ltd.
• Samsung BioLogics
• Thermo Fisher Scientific, Inc.
• Binex Co., Ltd.
• WuXi Biologics
• AbbVie, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.