Surgical Instrument Tracking Systems Market Predicted to Cross USD 395.7 Million by 2028: Grand View Research Inc.

 Surgical Instrument Tracking Systems Market Growth & Trends

The global surgical instrument tracking systems market size is anticipated to reach USD 395.7 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.2% from 2021 to 2028. The increasing need for inventory management and implementation of Unique Device Identification (UDI) regulations formed by the FDA are some of the major factors supporting the market growth.

The U.S. regulations required surgical tools to be marked with a UDI by 2020. Most surgical instruments are identified under class I devices by the U.S. FDA. As per the FDA’s June 2020 guidelines, the agency postponed the compliance date for UDI labeling, Direct Mark, GUDID Data Submission, and Standard Date Format to September 2022.

Surgical instrument tracking systems also enable better monitoring by competent authorities while reducing medical errors, thus propelling the demand. The usability of such solutions in inventory management and during the work cycle including surgeries, storage, sterilization procedures, and post-surgery are other drivers contributing to market growth.

A large number of operating rooms and other departments in hospitals collectively require more than 1,000 instruments each day. This has led to a huge need for surgical instrument inventory management, which facilitates assembling and checking the set of tools while saving manpower and time. This is expected to fuel the market growth.

Although the number of elective surgeries plunged during the COVID-19 pandemic, the volume is expected to return to pre-COVID numbers which in turn is estimated to drive the market. Also, the pandemic has a neutral effect on the underlying need for surgical instrument tracking systems and in fact highlights the need for such solutions to track and control infections at hospitals and safeguard patient health.

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Surgical Instrument Tracking Systems Market Report Highlights 

• The barcode technology segment was the largest revenue-generating segment in 2020 owing to its several advantages such as ease of handling and low installation cost
• The RFIDsegment is projected to expand at the fastest CAGR during the forecast period due to the growing demand of end-users for technologically advanced instrument traceability and inventory solutions
• In 2020, the hardware segment grabbed the largest revenue share while the software segment followed close behind. The hardware segment is also expected to witness the highest CAGR over the forecast period
• The hospitals segment held the largest revenue share in 2020, owing to the increasing adoption of these devices for inventory management and their ability to facilitate better patient safety
• North America dominated the market in 2020 and is expected to continue its dominance during the forecast period. Highly developed healthcare infrastructure and availability of advanced products is projected to drive the market in the region
• In Asia Pacific, the market is anticipated to witness a significant CAGR over the next few years.

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Surgical Instrument Tracking Systems Market Segmentation

Grand View Research has segmented the global surgical instrument tracking systems market on the basis of product, technology, end-use, and region:

Surgical Instrument Tracking Systems Product Outlook (Revenue, USD Million, 2016 - 2028)

• Hardware
• Software
• Services

Surgical Instrument Tracking Systems Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Barcodes
  • Hospitals
  • Others
• RFID
  • Hospitals
  • Others

Surgical Instrument Tracking Systems End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospitals
• Others

Surgical Instrument Tracking Systems Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Surgical Instrument Tracking Systems Market

• Censis Technologies, Inc.
• Spatrack Medical Limited
• Xerafy Singapore Pte Ltd.
• Fingerprint Medical Limited
• Getinge AB
• Braun Melsungen AG
• BD
• Haldor Advanced Technologies
• Microsystems, INC
• Ternio Group LLC

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. Knife Sharpening Service Market Industry Analysis , Opportunity Assessment And Forecast Till 2028: Grand View Research Inc.

 U.S. Knife Sharpening Service Market Growth & Trends

The U.S. knife sharpening service market size is expected to reach USD 117.1 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2021 to 2028. The rapid development of urban areas, coupled with consumer preference for a wide variety of cuisines, has led to an increase in the number of cafes, specialty coffee shops, and quick-service restaurants (QSRs) in the U.S. The trend of dining in restaurants and cafes offers lucrative growth opportunities for knife sharpening service providers.

According to the National Restaurant Association, U.S., there were over 1 million restaurant locations in the country in 2019. In addition, the growth of the restaurant industry owing to consumers’ desire for convenience, socialization, and high-quality food and service has resulted in restaurant owners investing in modern and quality kitchen knives. This factor acts as a major driver for the market in the country.

According to the American Barber Association, there are 140,000 businesses providing barbershop services in the U.S. Hence, the growing demand for the sharpening of scissors and blades is driving the need for sharpening service providers.

The increasing influence of culinary arts on consumers, coupled with the growing number of luxury hotels and high-end restaurants, supports the demand for kitchen knife sharpening services in the commercial segment. The growing trend of tourism, coupled with the growing consumer willingness to spend on exploring exotic destinations, luxury hotels, and culinary travels, is also expected to drive the demand for kitchen knives and knife sharpening services in the country.

Hotels, restaurants, barbershops, and lawnmower repair shops are among the major end-users of sharpening services for knives and other cutting tools. In addition, residential households that use high-priced and premium quality knives opt for knife sharpening services in order to enhance the life span of the knife and retain the quality of the blade.

Consumers tend to opt for seasoned knife sharpening service providers with extensive experience in the industry. Moreover, consumers prefer that knives be sharpened on whetstones that typically start off at 1,000 grit and finish anywhere between 6,000 grit and 10,000 grit. The trend of electric sharpeners is also increasing among business owners in order to cater to the rising demand for normal/minor sharpening services. Knife sharpening service providers are opting for electric sharpeners owing to their major benefits, such as low cost and less time consumption.

One of the major factors affecting purchasing decisions is the turnaround time of knives in the market. Moreover, the durability and quality of sharpening are key in influencing consumers’ decisions on whether or not to visit again. Word-of-mouth marketing also significantly affects the purchasing decisions of consumers. In addition, the growing presence of service offerings via social media and e-commerce platforms is influencing and changing the way consumers opt for such services. Several players in the market choose to mail-order services to increase their reach among consumers. New entrants offering various innovative solutions and practices also influence the purchasing decisions of consumers.

The cost of the service is also a major factor affecting the buying decisions of consumers. Consumers with high volume need to seek services at lower costs and with less turnaround time. The growing awareness about the benefits of sharp knives and cutting tools is also driving consumers to opt for professional services instead of at-home or DIY practices. 

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U.S. Knife Sharpening Service Market Report Highlights

• The household end-user segment accounted for the largest share of almost 55.0% in 2020 owing to the increasing urbanization
• The commercial end-user segment is expected to expand at the fastest CAGR of 6.9% from 2021 to 2028. This is attributed to the rapid expansion of commercial spaces, which is propelling the demand for kitchen tools
• The Western region of the U.S. held the largest share of 25.5% in 2020 owing to the continuous growth of the housing market

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U.S. Knife Sharpening Service Market Segmentation

Grand View Research has segmented the U.S. knife sharpening service market on the basis of end-user and region:

U.S. Knife Sharpening Service End-user Outlook (Revenue, USD Million, 2016 - 2028)

• Household
• Commercial
• Industrial

U.S. Knife Sharpening Service Regional Outlook (Revenue, USD Million, 2016 - 2028)

• Northeast
• Southwest
• Midwest
• West
• Southeast

List of Key Players of U.S. Knife Sharpening Service Market

• Carter Cutlery
• American Cutting Edge, Inc.
• Cozzini Bros, Inc.
• Florida Knife Company
• Town Cutler
• Eversharp Knives
• John’s Sharpening Service & Cutlery
• Market Grinding Inc.
• National Sharpening Company
• Rod’s Sharpening Service

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.

Molecular Diagnostics Market Estimated to Experience a Hike in Growth by 2028: Grand View Research Inc.

 Molecular Diagnostics Market Growth & Trends

The global molecular diagnostics market size is expected to reach USD 49.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.9% from 2021 to 2028. This growth is owing to factors such as an increasing geriatric population, the outbreak of COVID-19, and the growing demand for point-of-care facilities.

Molecular diagnostics play an important role in infectious disease testing as they can yield effective and fast results. Hence, the increasing prevalence of hospital-acquired infections and infectious diseases is projected to drive the market over the forecast period. Increasing incidence of cardiovascular, neurological, and genetic disorders is further anticipated to accelerate market growth.

The miniaturization of three basic molecular assays - nanobiotechnology, biochips, and microfluidics - is expected to increase the accuracy and specificity of diagnostic outcomes, and hence, increase the demand for molecular diagnostic products. These improvements are expected to enhance the availability of PoC molecular diagnostic tests to yield quick and effective test results.

Companies expanding their regional presence owing to approval of COVID-19 IVD tests are expected to boost the market growth. For instance, Vela Diagnostics received the CE-IVD mark for ViroKey SARS-CoV-2 RT-PCR Test. It is a probe-based RT-PCR test used on Applied Biosystems 7500 Fast Dx instrument to detect SARS-CoV-2. The CE-IVD mark has enabled Vela diagnostics to expand its COVID-19 test in Europe.

Key players are enhancing their range of testing options for real-time PCR instruments by increasing R&D activities for the development of kits that target emerging diseases, or by entering into agreements with other kit manufacturing companies. These include the introduction of Cobas HPV test assay in Cobas 4800 by Roche Diagnostics. The introduction of tuberculosis testing Xpert assay on GeneXpert platform by Cepheid is an example of such advancement. Such advances are anticipated to drive the market. 

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Molecular Diagnostics Market Report Highlights

• The reagents segment dominated the market majorly driven by the high usage rate
• The PCR technology segment accounted for the highest revenue share in 2020, attributable to its wide usage in the diagnosis of COVID-19 and other infectious diseases
• The self-testing or OTC segment is anticipated to be the fastest-growing segment over the forecast period as it facilitates early diagnosis and constant patient monitoring
• North America accounted for the highest revenue share in 2020, driven by a high disease prevalence, rising consumer awareness, proactive government measures, technological advancements, and improvements in healthcare infrastructure

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Molecular Diagnostics Market Segmentation

Grand View Research has segmented the global molecular diagnostics market based on product, test location, technology, application, and region:

Molecular Diagnostics Product Outlook (Revenue, USD Million, 2017 - 2028)

• Instruments
• Reagents
• Others

Molecular Diagnostics Test Location Outlook (Revenue, USD Million, 2017 - 2028)

• Point-of-Care
• Self-test or Over the Counter
• Central Laboratories

Molecular Diagnostics Technology Outlook (Revenue, USD Million, 2017 - 2028)

• Polymerase Chain Reaction (PCR)
  • PCR, By Type
    • Multiplex PCR
    • Other PCR
  • PCR, By Product
    • Instruments
    • Reagents
    • Others
  • PCR, By Procedure
    • Nucleic Acid Extraction and Purification
    • Others
  • In Situ Hybridization (ISH)
    • Instruments
    • Reagents
    • Others
  • Isothermal Nucleic Acid Amplification Technology (INAAT)
    • Instruments
    • Reagents
    • Others
  • Chips and Microarrays
    • Instruments
    • Reagents
    • Others
  • Mass Spectrometry
    • Instruments
    • Reagents
    • Others
  • Sequencing
    • Instruments
    • Reagents
    • Others
  • Transcription Mediated Amplification (TMA)
    • Instruments
    • Reagents
    • Others
  • Others
    • Instruments
    • Reagents
    • Others

Molecular Diagnostics Application Outlook (Revenue, USD Million, 2017 - 2028)

• Oncology
  • Breast Cancer
  • Prostate Cancer
  • Colorectal Cancer
  • Cervical Cancer
  • Kidney Cancer
  • Liver Cancer
  • Blood Cancer
  • Lung Cancer
  • Other Cancer
• Pharmacogenomics
• Infectious Diseases
  • Methicillin-resistant Staphylococcus Aureus (MRSA)
  • Clostridium Difficile
  • Vancomycin-resistant Enterococci (VRE)
  • Carbapenem-resistant Bacteria
  • Flu
  • Respiratory Syncytial Virus (RSV)
  • Candida
  • Tuberculosis and Drug-resistant TB
  • Meningitis
  • Gastrointestinal Panel Testing
  • Chlamydia
  • Gonorrhea
  • HIV
  • Hepatitis C
  • Hepatitis B
  • Other Infectious Disease
• Genetic Testing
  • Newborn Screening
  • Predictive and Presymptomatic Testing
  • Other Genetic Testing
• Neurological Disease
• Cardiovascular Disease
• Microbiology
• Others

Molecular Diagnostics Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Belgium
  • Switzerland
  • Netherlands
  • Poland
  • Austria
  • Greece
  • Sweden
  • Turkey
  • Finland
• Asia Pacific
  • Japan
  • China
  • India
  • Sri Lanka
  • Malaysia
  • Australia
  • New Zealand
  • Thailand
  • Vietnam
  • Singapore
• Latin America
  • Brazil
  • Mexico
  • Chile
  • Peru
  • Colombia
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Jordan
  • UAE
  • Qatar
  • Nigeria
  • Egypt

List of Key Players of Molecular Diagnostics Market

• BD
• bioMérieux SA
• Bio-Rad Laboratories, Inc.
• Abbott
• Agilent Technologies, Inc.
• Danaher
• Hologic Inc. (Gen-Probe)
• Illumina, Inc.
• Johnson & Johnson Services, Inc.
• Grifols, S.A.
• QIAGEN
• Hoffmann-La Roche, Ltd.
• Siemens Healthineers AG
• Sysmex Corporation

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.

Breast Pump Market Get Facts About Business Strategies 2021 to 2028: Grand View Research Inc.

 Breast Pump Market Growth & Trends

The global breast pump market size is expected to reach USD 5.53 billion by 2028 registering a CAGR of 10.5% over the forecast period, according to a new report by Grand View Research, Inc. Improving healthcare infrastructure in emerging economies, increasing global women employment rates, and presence of favorable demographics are the key factors driving the market.

The market in the developed economies, such as the U.S., Germany, France, and Australia, is saturated, owing to the increasing demand and presence of key players in these regions. The emerging Asian and Latin American economies currently have a moderate adoption rate due to lower patient awareness levels. Economic development in these regions coupled with rising disposable income is anticipated to help the market ensure future sustainability.

Manufacturers investing in these rapidly-developing markets are expected to record high growth, provided pricing and distribution activities are undertaken effectively. Moreover, rising awareness about the benefits and importance of breastfeeding, rising disposable incomes, availability of the latest devices, and the presence of key companies are boosting the product demand in emerging markets. The rapid economic growth in these markets indicates higher product adoption.

Moreover, supportive initiatives being undertaken by the governments around the world are anticipated to propel the demand for the product. For instance, insurance companies in the U.S. have to cover the cost of equipment and services, such as breast pumps & accessories and lactation counseling. As a result, the purchase of the product has become easier for the end users, thereby supporting the growth of the market.

Most of the companies in the market have undertaken several business strategies, such as mergers & acquisitions, partnerships, and new product launches, to strengthen their foothold in the global market. For instance, in May 2017, Medela announced that it would conduct in-house clinical trials to increase the accuracy of the feedback received by the company regarding its device. This is anticipated to increase patient compliance with the device. Some companies are also investing heavily in the research & development activities for product portfolio expansion.

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Breast Pump Market Report Highlights

• In terms of revenue, the electric pumps segment held the largest share in 2020 on account of the high demand for these products across the globe
• The closed system product segment held the largest revenue share of the global market in 2020
• The segment is also expected to witness the fastest CAGR over the forecast period on account of several benefits offered by closed system products over their counterparts
• The hospital-grade application segment accounted for the maximum revenue share of the overall market in 2020
• The application segment will expand further at the fastest CAGR from 2021 to 2028 on account of a rising number of hospitals across the globe
• Asia Pacific is expected to be the fastest-growing regional market over the forecast period. This growth can be attributed to the growing disposable income levels and awareness about the product & its benefits

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Breast Pump Market Segmentation

Grand View Research has segmented the global breast pump market on the basis of product, technology, application, and region:

Breast Pump Product Outlook (Revenue, USD Million, 2016 - 2028)

• Open System
• Closed System

Breast Pump Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Manual
• Battery-powered
• Electric

Breast Pump Application Outlook (Revenue, USD Million, 2016 - 2028)

• Personal Use
• Hospital-grade

Breast Pump Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Breast Pump Market

• Ameda AG
• Bailey Medical
• Medela AG
• Philips
• Hygeia Health
• Lansinoh Laboratories
• Buettner Frank GmbH
• Linco Baby Merchandise Works Co., Ltd.
• Whittlestone, 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.

Global Ambulance Services Market Outlook & Future Forecast Report Till 2028

 Ambulance Services Market Growth & Trends

The global ambulance services market size is expected to reach USD 67.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.6% from 2021 to 2028. Rising medical tourism and an increasing number of road accidents and CVD cases are the key driving factors for the market.

The growth of the market is due to favorable reimbursement policies in developed nations. In the U.S., Medicare covers both non-emergency and emergency ambulance services for medically necessary cases, if the supplier fulfills stipulated requirements. In some circumstances, Medicare also covers unscheduled and irregular non-emergency trips. Medicare covers 80.0% of the approved amount for emergency medical services and the remaining 20.0% is covered by the supplemental insurance policy of the patient. In New Jersey, Pennsylvania, and South Carolina, for repetitive, non-emergency trips, patients need prior authorization from Medicare Administrative Contractor (MAC). However, Medicare does not pay for ambulates (wheelchair-accessible vans that provide non-emergency transportation services).

In Victoria, Australia, patients can avail of emergency medical services by securing membership with Ambulance Victoria, which offers emergency medical services at subsidized prices. Ambulance Tasmania provides free emergency medical services to residents of Tasmania. Residents of Queensland (Australia) are covered with the cost of emergency services across Australia, by the QLD state government. Similarly, in the U.K., the public healthcare system provides free emergency and non-emergency medical services. In addition, patients receive NHS funding for their treatment. In Germany, public health insurance (Gesetzliche Krankenversicherung) is compulsory for every citizen and this insurance also covers non-emergency and emergency medical services. Private health insurance (Private Krankenversicherung) is usually opted by those who have high yearly income. Ease of payment through reimbursement policies encourages patients to opt for emergency medical services more frequently, which is likely to bolster the growth of the market.

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Ambulance Services Market Report Highlights

• In terms of revenue, the ground ambulance segment held the largest share in 2020. The rising number of road accidents and increasing COVID-19 cases across the globe are major factors propelling segment growth
• The emergency services segment held the largest market share in 2020 and is expected to grow fast over the forecast period due to the increasing number of CVDs
• The Advanced Life Support (ALS) ambulance services segment held the largest market share in 2020. The growth of the segment is majorly driven by the increasing medical tourism across the globe
• In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising number of COVID-19 cases in the region

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Ambulance Services Market Segmentation

Grand View Research has segmented the global ambulance services market on the basis of transport vehicle, equipment, emergency services, and region:

Ambulance Services Transport Vehicle Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Ground Ambulance
• Air Ambulance
• Water Ambulance

Ambulance Emergency Services Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Emergency Services
• Non-emergency Services

Ambulance Services Equipment Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Advanced Life Support (ALS) Ambulance Services
• Basic Life Support (BLS) Ambulance Services

Ambulance Services Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Ambulance Services Market

• Envision Healthcare
• London Ambulance Service NHS Trust
• Acadian Ambulance Service
• BVG India Limited
• America Ambulance Services, Inc.
• Falck Denmark A/S
• Air Medical Group Holdings, Inc. (AMGH)
• Air Methods Corporation
• Ziqitza Healthcare Limited
• Medivic Aviation

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.

Microfluidics Market Top Players, Segments, Cost Structure, Demand, Sales | 2028 Forecast

 Microfluidics Market Growth & Trends

The global microfluidics market size is expected to reach USD 60.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.3% from 2021 to 2028. Significant across clinical and analytical research is expected to boost the adoption of microfluidics devices, thereby driving the market. Additionally, the need for effective devices, which can handle low-volume sample devices offers lucrative market opportunities. Thus, market entities have already begun to integrate microfluidics technology into their existing portfolio of diagnostic products.

With further technological advancements, digital microfluidics has become an attractive market space for several diagnostic entities. Automation and portability are two key factors that play a significant role in the selection of microfluidic devices. In addition, users are keen on adopting cutting-edge solutions. This has provided significant traction to the miniature microfluidic-based tools among consumers, in turn, encouraging companies to invest in their development.

Since microfluidics is the underlying principle of lab-on-a-chip devices, it offers various benefits such as minimal sample volume, minimal reagent usage, reduced waste, and rapid processing. Fully automated microfluidics with enhanced functional capabilities and robust modularity is also creating growth opportunities for manufacturers operating in the market.

Microfluidic POC technologies are expected to enhance patient care by ensuring personalization, early disease detection, and easy monitoring. In addition, integration of microfluidics with POC devices is expected to offer significant profitable opportunities to manufacturers operating in developing economies.

Lateral Flow Assay (LFA) and nucleic acid amplification are 2 peculiar technologies, which represent a majority of the microfluidic point of care diagnostics. Over the past few years, several microfluidic technologies have been introduced to offer rapid point-of-care testing to the central laboratories or high-throughput diagnostic solutions, alternatively. An upsurge in the demand for such tests, with millions of these tests required each month across the globe, is estimated to make significant revenue contributions particularly in the respiratory-testing area, attributed to the COVID-19 pandemic outbreak.

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Microfluidics Market Report Highlights

• The medical segment displayed market dominance throughout the study period, attributed to the need for novel molecular diagnostic solutions with desired sensitivities, rapid turnaround times, and minimal associated costs
• Microfluidics has proven highly profitable not only across biological bench-workflows but also across different pharmaceutical and medical applications, which include cancer treatment as well as infectious disease diagnosis
• Researchers are focused on developing integrated microfluidic devices capable of performing high-precision PCR, which has contributed to the dominance of the PCR and RT-PCR segment in 2020 and is set to continue this trend through the study period
• A highly sensitive version of PCR, digital PCR, has gained immense popularity as it reduces sample cross-contamination and overall analysis costs; further expected to propel segment growth
• 3D organ-on-a-chip models allow examination of physiology of organs, the effect of pathogens and pharmaceutical drugs on organs, and provide in-depth data to researchers for types of therapies
• This has made significant contributions to the segment’s growth rate through the forecast period, making it the fastest-growing segment among other market applications
• Polydimethylsiloxane (PDMS) dominated the market in 2020 among other materials used in the fabrication of devices
• The segment’s dominance is attributed to the robustness, nontoxicity, biocompatibility, optical transparency, permeability, elastomeric features, and affordable cost of PDMS
• In North America, the market generated the highest revenue in 2020 attributed to the availability of funds and research capital, local presence of dominant players, and launch of novel sample volume screening technologies
• Factors such as high demand for point-of-care diagnostic solutions to cater to the expanding geriatric population base and the presence of academic institutions focused on microfluidic-based research have contributed to the growth of the market in Asia Pacific

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Microfluidics Market Segmentation

Grand View Research has segmented the global microfluidics market based on technology, application, material, and region:

Microfluidics Technology Outlook (Revenue, USD Million, 2017 - 2028)

• Medical/Healthcare
  • PCR & RT-PCR
  • Gel Electrophoresis
  • Microarrays
  • ELISA
  • Others
• Non-Medical

Microfluidics Application Outlook (Revenue, USD Million, 2017 - 2028)

• Lab-on-a-chip
  • Medical
  • Non-Medical
• Organs-on-chips
  • Medical
  • Non-Medical
• Continuous flow microfluidics
  • Medical
  • Non-Medical
• Optofluidics and microfluidics
  • Medical
  • Non-Medical
• Acoustofluidics and microfluidics
  • Medical
  • Non-Medical
• Electrophoresis and microfluidics
  • Medical
  • Non-Medical

Microfluidics Material Outlook (Revenue, USD Million, 2017 - 2028)

• Silicon
• Glass
• Polymer
• PDMS
• Others

Microfluidics Regional Outlook (Revenue, USD Million, 2017 - 2028)

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

List of Key Players of Microfluidics Market

• Illumina, Inc.
• Hoffmann-La Roche Ltd
• PerkinElmer, Inc.
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Life Technologies Corporation
• Abbott Laboratories
• Thermo Fisher Scientific
• Qiagen
• Biomérieux
• Elveflow
• Cellix Ltd.
• Micronit Micro Technologies B.V.
• Fluidigm Corporation

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.

Gas Turbine Market to Reflect Impressive Expansion During 2021 to 2028: Grand View Research Inc.

 Gas Turbine Market Growth & Trends

The global gas turbine market size is projected to reach USD 35.02 billion by 2028, registering a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. Supportive policies majorly determine the increasing demand for gas turbines in developing markets, such as Combined Heat and Power (CHP) support scheme executed by Germany. The growing urbanization is triggering the development in the building & construction as well as cement sectors.

The projected growth in end-user industries is estimated to trigger the growth of the overall market. Key Original Equipment Manufacturers (OEMs), including Siemens Energy and General Electric, are expanding their distribution, operations, and after-sales facilities worldwide to boost the >200 MW capacity segment over the projected period. The power & utility segment is projected to experience growth in demand owing to the rising need for electricity across the globe.

Furthermore, most of the major countries worldwide are expected to switch to gas-based power generation from coal-based power generation due to a rise in environmental concerns. High energy loss resulting in lower efficiencies is expected to be a major factor affecting the growth of the open cycle technology segment. Even though these systems require less space, unfavorable environmental conditions significantly affect their component efficiency, thus lowering the overall system efficiency compared to combined-cycle units.

However, open cycle technologies are being preferred by some industrial end-users, so a rise in industrial activities in the forecast period will boost the growth of open cycle technology in the forecast period. The rising population is a major factor significantly impacting the power generation market in the Europe region. Growth in population and GDP are projected to attract various end-use industry players looking to expand their consumer base.

The major end users for gas turbines in Europe include power generation, oil & gas, mobility, petrochemicals, food processing, and pulp & paper. The market in Europe is likely to observe slow growth owing to factors, such as stalled industrial output affected by the Covid-19 pandemic, the debt crisis, and growing unemployment. However, a positive outlook across Eastern Europe, in terms of consumerism and manufacturing, is expected to drive the market in the future.

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Gas Turbine Market Report Highlights

• In 2020, the power & utility emerged as the largest application segment and accounted for over 85% share of the global revenue
• Increasing investments and new installations are resulting in the rising share of distributed power in the global energy mix hence propelling the market growth
• The >200 MW capacity segment is poised to register the fastest CAGR of over 7% from 2021 to 2028, owing to the growing electricity generation activities across the world
• In 2020, the open cycle application segment accounted for the highest revenue share of the overall market
• Saudi Arabia is among the major end users in the MEA region due to the strong presence of gas turbine providers in the country, which are working on enhancing their market share

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Gas Turbine Market Segmentation

Grand View Research has segmented the global gas turbine market on the basis of capacity, technology, end-use, and region:

Gas Turbine Capacity Outlook (Volume, MW; Revenue, USD Million, 2016 - 2028)

• ≤200 MW
• >200 MW

Gas Turbine Technology Outlook (Volume, MW; Revenue, USD Million, 2016 - 2028)

• Open Cycle
• Combined Cycle

Gas Turbine End-use Outlook (Volume, MW; Revenue, USD Million, 2016 - 2028)

• Power & Utility
• Industrial

Gas Turbine Regional Outlook (Volume, MW; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
• Europe
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
• Middle East & Africa 
  • Saudi Arabia
  • Egypt

List of Key Players of Gas Turbine Market

• General Electric
• Siemens Energy
• Mitsubishi Power, Ltd.
• Kawasaki Heavy Industries, Ltd.
• Ansaldo Energia
• Bharat Heavy Electricals Ltd.
• MAN Energy Solutions

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.

Aluminum Extrusion Market Industry Analysis , Opportunity Assessment And Forecast Till 2028

 

Aluminum Extrusion Market Growth & Trends

The global aluminum extrusion market size is expected to reach USD 104.15 billion by 2028, expanding at a CAGR of 7.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing investments in infrastructure and residential construction is projected to drive the market growth over the forecast period. Emerging economies of Asia Pacific, Central & South America, and Middle East & Africa are witnessing increasing investments in the residential and infrastructure sector owing to the rapid urbanization, rising per capita income levels, and growing population.

For instance, in the economic budget of FY 2020-21, the Indian government announced around USD 1.41 trillion funding for infrastructure projects in the country. The Indian government is set to develop 6,500 projects under its National Infrastructure Pipeline (NIP) over the next five years. Besides the construction industry, growth in the automotive & transportation sector is also expected to play a crucial role in driving the market growth. Aluminum, being a lightweight material, helps in curbing emissions from automobiles. Also, due to various stringent government regulations regarding carbon emissions, automobile companies are preferring this material over steel for automotive manufacturing.

The Covid-19 pandemic has created disruptions in the value chain of the industry across various countries, such as China. However, the country is all set for a strong rebound in its economic activities, following the relaxation of economic and social controls since April 2020. Where the other major economies of the world reported a negative GDP for the second quarter (April-June) of 2020, China registered a GDP growth of 3.2%. The economic growth of the country has helped soften the impact of the pandemic for the remainder of 2020.

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Aluminum Extrusion Market Report Highlights

• The shapes product segment generated the largest revenue share of 80% in 2020 and is estimated to retain the leading position over the forecast period
• The growth of this segment is attributed to the increasing demand for channels, tubing, and angles in various applications, such as construction, architectural and automotive components, computers, and domestic appliances
• In terms of revenue, the automotive & transportation application segment is expected to grow at a steady CAGR of 6.9% from 2021 to 2028
• Properties, such as flexibility, durability, and corrosion-resistance, enable usage of aluminum extrusion in automotive & transportation applications, thereby driving the segment growth
• Asia Pacific was the dominant regional market in 2020, in terms of revenue, and is expected to maintain its position growing at the fastest CAGR over the forecast period
• Stable Foreign Direct Investment (FDI) in the manufacturing sectors of China, India, South Korea, Indonesia, and Singapore is one of the key factors driving the APAC regional market
• The market is highly competitive in which most of the players are focusing on creating their differentiation factors. The establishment of an efficient sales channel is of key significance for the manufacturers in the market

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Aluminum Extrusion Market Segmentation

Grand View Research has segmented the global aluminum extrusion market on the basis of product, application, and region:

Aluminum Extrusion Product Outlook(Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• Shapes
• Rods & Bars
• Pipes & Tubes

Aluminum Extrusion Application Outlook(Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• Automotive & Transportation
• Building & Construction
• Consumer Goods
• Electrical & Energy
• Others

Aluminum Extrusion Regional Outlook(Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

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

List of Key Players of Aluminum Extrusion Market

• Hindalco Industries Ltd.
• Arconic Corp.
• Norsk Hydro ASA
• Constellium N.V.
• QALEX

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.

Modular Chillers Market Size Is Expected To Reach USD 4.02 Billion by 2028

 Modular Chillers Market Growth & Trends

The global modular chillers market size is expected to reach USD 4.02 billion by 2028 registering a CAGR of 6.7%, according to a new report by Grand View Research, Inc. The growing demand for energy-efficient buildings on account of the rising awareness regarding environmental degradation coupled with stringent government regulations is anticipated to fuel the product demand over the forecast period.

Increasing construction spending in emerging countries, such as China, India, and Brazil, on account of strong economic and industrial development coupled with population expansion, is anticipated to drive the product demand over the forecast period. In addition, rising awareness about energy-efficient systems and the harmful impacts of burning fossil fuels is expected to further boost the market growth over the coming years.

Several initiatives promoting and encouraging energy-efficiency have been adopted and implemented in Europe. For instance, the European Commission’s initiative “The European Portal for Energy Efficiency of Buildings” allows exploration and sharing of knowledge and optimal practices offering energy solutions for buildings.

According to the International Trade Administration (ITA), the construction industry in Canada was valued at USD 126.3 billion in 2018 and accounted for over 7% of the country’s GDP. The presence of stringent government regulations in Toronto and Vancouver for cooling the overheated markets in the residential sector is expected to drive the product demand over the coming years.

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Modular Chillers Market Report Highlights

• In terms of revenue, the demand for water-cooled chillers is expected to witness growth at a CAGR of 6.1% from 2021 to 2028
• This growth is attributed to pressure operating features and lower condensing temperature offered by water-cooled systems compared to air-cooled systems
• The commercial sector is estimated to be valued at USD 2.02 billion by 2028 on account of the rising product demand from the healthcare industry
• China accounted for a revenue share of 60.1% of the Asia Pacific market in 2020 and is anticipated to witness steady growth owing to the rising population, urbanization, and government initiatives to enhance the country’s infrastructure
• The growing demand for housing projects owing to the rising population in urban areas is expected to drive the construction industry in Brazil, thereby, augmenting the product demand in the country

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Modular Chillers Market Segmentation

Grand View Research has segmented the global modular chillers market on the basis of product, end-use, and region:

Modular Chillers Product Outlook (Revenue, USD Million, 2017 - 2028)

• Water-Cooled
  • <50kW
  • 51-100kW
  • 101-200kW
  • 201-300kW
  • >301kW
• Air-Cooled
  • <50kW
  • 51-100kW
  • 101-200kW
  • 201-300kW
  • >301kW

Modular Chillers End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Commercial
  • Corporate Offices
  • Data Centers
  • Public Buildings
  • Mercantile & Service
  • Healthcare
  • Others
• Residential
• Industrial
  • Chemical
  • Food & Beverage
  • Metal Manufacturing & Machining
  • Medical & Pharmaceutical
  • Plastics
  • Others

Modular Chillers Regional Outlook (Revenue, USD Million, 2017 - 2028)

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

List of Key Players of Modula Chillers Market

• Trane Technologies plc
• Gree Electric Appliances, Inc.
• Carrier
• Frigel
• Midea Group
• Multistack International Ltd.
• McQuay Air-Conditioning Ltd. (Daikin)
• Johnson Controls-Hitachi Air Conditioning
• Haier Group
• Mitsubishi Electric Corp.

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.

Mobile Phone Insurance Market to Undertake Strapping Growth By 2028

 Mobile Phone Insurance Market Growth & Trends

The global mobile phone insurance market size is expected to reach USD 59.97 billion by 2028, registering a CAGR of 12.6% from 2021 to 2028, according to a new study by Grand View Research, Inc. The growth is attributable to the increasing number of smartphone users across the globe. The market growth can also be ascribed to the growing demand for smartphones that are used for entertainment, education, news, and digital transactions.

Additionally, the growing usage of smartphones, as well as mobile applications, is expected to favor market growth. Convenient claim service is also expected to contribute to the overall market growth over the forecast period. Mobile phone insurance helps avoid expensive replacement costs incurred due to the loss or breakdown of mobile phones. Damages such as physical damage and electronic damage, theft protection, and cyber-threat protection are usually covered under a mobile phone insurance policy. This is anticipated to encourage customers to opt for such insurance policies over the forecast period.

Big data analytics is also playing a pivotal role in driving the market growth. The technology helps flag claims for priority handling or proactively monitor risks to reduce financial losses. Therefore, phone insurance providers are anticipated to widely adopt analytics over the coming years. Furthermore, there is an increase in the purchase of mobile phones through online platforms. This is encouraging e-commerce companies to collaborate with insurance providers. For instance, in October 2018, Flipkart ventured into a partnership with Bajaj Allianz to offer customized insurance solutions and boost Bajaj Allianz mobile phone protection program. Moreover, these collaborations enable the partnered companies to increase their customer base across the globe.

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Mobile Phone Insurance Market Report Highlights

• The market is anticipated to witness substantial growth owing to an increasing number of smartphone users and collaborations among manufacturers and insurance providers
• The physical damage segment accounted for the highest market share in 2020. The users mostly opt for plans that cover repair and replacement costs
• The premium smartphone segment accounted for a significant market share in 2020 owing to the rapidly increasing cost of smartphones and rise in the number of physical and technical damages
• The growth of the North America market can be attributed to the presence of a large number of insurance providers and higher smartphone penetration in the U.S.
• Key players include American International Group, Inc.; ASSURANT, INC; Asurion; AT&T Inc.; AmTrust Financial; Brightstar Corp.; GoCare Warranty Group; and SquareTrade, Inc.

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

Mobile Phone Insurance Market Segmentation

Grand View Research has segmented the global mobile phone insurance market based on coverage, phone type, and region:

Mobile Phone Insurance Coverage Outlook (Revenue, USD Million, 2016 - 2028)

• Physical Damage
• Internal Component Failure
• Theft & Loss Protection
• Virus & Data Protection
• Others

Mobile Phone Insurance Phone Type Outlook (Revenue, USD Million, 2016 - 2028)

• Budget Phones
• Mid & High-end Phones
• Premium Smartphones

Mobile Phone Insurance Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players in the Mobile Phone Insurance Market

• Apple Inc.
• American International Group, Inc.
• Assurant, Inc.
• Asurion
• AT&T Inc.
• AmTrust Financial
• Brightstar Corp.
• GoCare Warranty Group
• SquareTrade, Inc.
• Taurus Insurance Services Limited

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.