Ultrasound Device Market Set to Witness an Uptick during 2023 to 2030: Grand View Research Inc.

 Ultrasound Device Market Growth & Trends

The global ultrasound device market size is expected to reach USD 14.5 billion by 2030, registering a CAGR of 4.3% over the forecast period, according to a new report by Grand View Research, Inc. Ultrasound is a very efficient technology that aids in the diagnosis of various disorders such as tumors as well as the detection of changes in the appearance of organs, tissues, and arteries. It also has a range of therapeutic applications. An increase in the adoption of ultrasound devices for diagnosis and treatment is driving the market. In addition, a rise in the adoption of minimally invasive surgeries, coupled with technological advancements is expected to boost the market growth.

Emerging innovations in ultrasound technology are expanding the market size. Hand-held ultrasound devices have made the technology more accessible for use in limited-resource communities around the world. Furthermore, the introduction of 3D/4D ultrasound and the integration of artificial intelligence (Al) to automate time-consuming processes are expected to propel the market growth during the forecast period. For instance, in September 2020, GE Healthcare launched Voluson SWIFT, a new ultrasound technology, which is designed to help women’s health by allowing clinicians to enhance patient outcomes by expanding diagnostic capabilities. The system includes industry-first AI algorithms for auto-recognition and has excellent image quality.

Ultrasound Device Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 10.8 billion
Revenue forecast in 2030	USD 14.5 billion
Growth rate	CAGR of 4.3% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

The rising prevalence of chronic diseases like cancer, neurological conditions, orthopedic conditions, and cardiovascular diseases, significantly increases the demand for the adoption of ultrasound devices for diagnosis, thus expanding the market during the forecast period. In addition, the market for therapeutic ultrasound equipment is predicted to grow due to the rising use of ultrasound techniques for various therapeutic procedures using High-Intensity Focused Ultrasound (HIFU) technology and Extracorporeal Shockwave Lithotripsy (ESWL). The market's prominent competitors are taking different initiatives such as funding and acquisitions of medium and small-sized businesses in order to expand their product portfolio and enhance their manufacturing capacity. For instance, in September 2021, GE Healthcare acquired BK Medical, a leader in advanced surgical visualization.

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Ultrasound Device Market Report Highlights

• By product, the diagnostic ultrasound devices segment accounted for the largest revenue share of more than 72.0% in 2022 owing to the rising demand for improved diagnostic devices such as miniaturized 2D and 3D/4D
• The therapeutic ultrasound devices product segment is expected to grow at a significant rate during the forecast period
• Based on portability, the cart/trolley-based devices segment accounted for the largest revenue share of over 68.0% in 2022
• In terms of application, The general imaging segment dominated the market and held the largest revenue share of more than 29.1% in 2022
• The hospital end-use segment held the largest revenue share of over 39.5% in 2022 and is further expected to maintain its lead over the forecast period. This is owing to the extensive use of ultrasound devices in hospital settings and an increase in the number of patients visiting hospitals with various lifestyle-related disorders
• North America accounted for the largest revenue share of over 30.0% in 2022. Asia Pacific is anticipated to expand at the fastest CAGR over the forecast period owing to the increased demand for better imaging devices

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Ultrasound Device Market Segmentation

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

Ultrasound Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Ultrasound Devices
  • 2D
  • 3D/4D
  • Doppler
• Therapeutic Ultrasound Devices
  • High-intensity Focused Ultrasound
  • Extracorporeal Shockwave Lithotripsy

Ultrasound Devices Portability Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld
• Cart/Trolley

Ultrasound Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiology
• Obstetrics/Gynaecology
• Vascular
• Orthopedic
• General Imaging

Ultrasound Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Imaging Centres
• Research Centres

Ultrasound Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Ultrasound Device Market

• Koninklijke Philips N.V. 
• GE Healthcare
• Siemens Healthineers AG
• Canon Medical Systems
• Mindray Medical International Limited
• Samsung Medison Co., Ltd.
• FUJIFILM SonoSite, Inc.
• Konica Minolta Inc.
• Esaote

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.

Small Molecule Innovator CDMO Market Strong Application and Emerging Trends also Scope by 2030: Grand View Research Inc.

 Small Molecule Innovator CDMO Market Growth & Trends

The global small molecule innovator CDMO market size is expected to reach USD 74.9 billion by 2030, expanding at 6.4% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. There is a growing interest among pharmaceutical companies in outsourcing to support core competencies such as sales, marketing, and others, due to associated cost savings. Furthermore, outsourcing enables companies to further progress core competencies such as drug development and manufacturing activities. Hence, expansions by small molecule CDMOs in recent years promise major support for the market growth in the upcoming years.

Small molecules continue to play an important role in the development of new treatments globally. Specialty medicines are increasingly driving global pharmaceutical manufacturing growth, particularly in developed markets with small molecule application accounting for over half of specialty sales. The application of small molecules are becoming increasingly complex.

Small Molecule Innovator CDMO Market Report Scope

Report Attribute	Details
Market Size value in 2023	USD 48.6 billion
Revenue forecast in 2030	USD 74.9 billion
Growth Rate	CAGR of 6.4% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

The majority of solutions in the regulatory approval pipeline are made up of poorly soluble compounds that would require enabling technology to progress to clinical trials and beyond. As therapy targets and focus areas become more specific, creating target product profiles has become increasingly difficult. Failure to achieve appropriate bioavailability is an additional stumbling block in the development of many new chemical entities. These factors are expected to support the overall market growth.

The geriatric population is expected to witness a surge in the coming years. For instance, the WHO estimates that there will be more than 2 billion people aged 60 and over by 2050. This would create a lot of opportunities for the development of new small-molecule drugs, which is expected to support the market growth in the post-pandemic period.

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Small Molecule Innovator CDMO Market Report Highlights

• The small molecule API segment is anticipated to register the fastest CAGR of 6.7% over the forecast period. This growth can primarily be attributed to the high approval rate of NME small molecules by regulatory agencies
• The clinical stage segment dominated the market with 55.1% of the revenue share in 2022. CDMOs offer specialized expertise, time-saving, and cost-efficiency during clinical procedures. This is expected to augment the segmental growth over the forecast period
• Based on customer type, the pharmaceutical companies segment held the largest share of 93.9% in 2022. The growing focus on pharmaceutical companies to focus on core competencies, such as sales and adoption of expansion strategies by CDMOs for manufacturing small molecule drugs, are promoting the segment’s market growth
• The oncology segment dominated the market with 41.8% of the revenue share in 2022, and it is anticipated to register the fastest CAGR of over 7.0% over the forecast period. A significant number of oncology drugs in the regulatory approval pipeline is one of the major factors supporting the segment’s growth
• Asia Pacific is anticipated to register the fastest CAGR of 7.2% over the forecast period. Due to significantly cheaper manufacturing costs than in North America & Europe and favorable regulations guiding innovation

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Small Molecule Innovator CDMO Market Segmentation

Grand View Research has segmented the global small molecule innovator CDMO market based on product, stage type, customer type, therapeutic area, and region:

Small Molecule Innovator CDMO Product Outlook (Revenue, USD Million, 2018 - 2030)

• Small Molecule API
• Small Molecule Drug Product
  • Oral solid dose
  • Semi-Solid Dose
  • Liquid Dose
  • Others

Small Molecule Innovator CDMO Stage Type Outlook (Revenue, USD Million, 2018 - 2030)

• Preclinical
• Clinical
  • Phase I
    • Small
    • Medium
    • Large
  • Phase II
    • Small
    • Medium
    • Large
  • Phase III
    • Small
    • Medium
    • Large
  • Commercial

Small Molecule Innovator CDMO Customer Type Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical
  • Small
  • Medium
  • Large
• Biotechnology

Small Molecule Innovator CDMO Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiovascular disease
• Oncology
• Respiratory disorders
• Neurology
• Metabolic disorders
• Infectious disease
• Others

Small Molecule Innovator CDMO Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Small Molecule Innovator CDMO Market

• Piramal Pharma Solutions
• CordenPharma International
• Wuxi AppTec
• Cambrex Corporation
• Recipharm AB
• Pantheon (Thermo Fisher Scientific)
• Lonza
• Catalent Inc.
• Siegfried Holding AG
• Boehringer Ingelheim
• Labcorp Drug Development

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.

Single-use Bioreactors Market Size Is Predicted To Reach A Valuation Of USD 12.06 Billion By 2030: Grand View Research Inc.

 Single-use Bioreactors Market Growth & Trends

The global single-use bioreactors market size is expected to reach USD 12.06 billion by 2030, registering a CAGR of 17.19% from 2023 to 2030, according to a new report by Grand View Research, Inc. Owing to the rising demand for biopharmaceuticals, coupled with increasing investments in single-use technologies, the market for single-use bioreactors is expected to witness significant growth throughout the forecast period.

Furthermore, the COVID-19 outbreak has positively impacted the market for SUBs. The race to create an effective vaccine against the SARS-CoV-2 virus is being undertaken by numerous biopharmaceutical firms. As a result, the need for single-use bioreactors has drastically increased. For instance, in October 2020, ABEC supplied six 4,000 L single-use bioreactors to the Serum Institute of India, for the production of COVID-19 vaccines on a large scale at a reasonable cost.

Single-use Bioreactors Market Report Scope 

Report Attribute	Details
Market size value in 2023	USD 3,973.3 million
Revenue forecast in 2030	USD 12.06 billion
Growth rate	CAGR of 17.19% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

The value of the product, the time required for product development and production, in addition to the criticality of the phase are now influencing the industry's propensity to employ single-use bioreactors. In addition, the medical industry has a significant demand for these single-use bioreactors. As a result, pharmaceutical companies use these reactors to make medicines without having to compromise on their quality.

The flexibility of using single-use bioreactors is one of their main benefits. The growing trend toward multi-drug facilities necessitates the manufacture of various medications utilizing the same facility, in the shortest amount of time, and for the least amount of money. Thus, it will increase the demand for single-use bioreactors and further fuel market growth.

Additionally, the market for SUBs is anticipated to increase quickly because of considerable prospects from emerging countries, the demand for customized medicine, and an anticipated rise in bio-similar production in the U.S. For instance, around USD 110 billion worth of biologics were anticipated to lose their patent protection by 2020. The demand for biosimilars is therefore expected to rise in the coming years as a result of mounting pressure to lower healthcare costs and regulatory certainty about biosimilars, further driving the market growth.

However, the administration of single-use bioreactors-related challenges and worries about leachable and extractable are most likely to impede the single-use bioreactors market's expansion over the anticipated time. The single-use bioreactors market is likely to benefit from new opportunities brought on by license termination and emerging markets. Despite this, the market is primarily driven by the growing single-use bioreactor usage among startups and small businesses, technological developments in SUBs, and the benefits offered by these products.

Additionally, SUBs have been used more frequently lately in contemporary biopharmaceutical operations. This is mainly because of their exceptional capacity to increase flexibility, decrease investment, and regulate operational expenses. Furthermore, single-use bioreactors have a wide range of uses in academic and industrial laboratories, including drug discovery, pharmaceutical, environmental, and life science research for the production of vaccines, antibodies, cell culture, and biofuels, among other things. Thus, it will increase demand and further boost market growth. 

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Single-use Bioreactors Market Report Highlights

• By product, the single-use bioreactor systems segment held the dominant share in 2022. The availability of disposable bioprocess bags in different sizes for a variety of uses, including the storage of reagents, buffers, sterile medium, sera, and cell cultures, is predicted to drive the market's expansion
• By type, the stirred tank bioreactors segment held a larger market share in 2022, driven by the increasing adoption of stirred tank SUBs from pilot scale to large scale manufacturing, which is anticipated to boost the market growth in the forecast years
• Based on the type of cell, the mammalian cells segment held a larger share in 2022. The segment is being driven by the increasing usage of single-use bioreactors for mammalian cell culture in several research studies. This is another key factor expected to drive market growth significantly in the coming years
• By molecule type insights, the vaccines segment held a larger share in 2022. This is due to the less expensive nature and availability in smaller volumes. This allows manufacturers to test different cell lines as well as growth conditions more quickly and at a lower cost to improve vaccine manufacturing
• By application insights, the research and development (R&D)/process development segment held a larger share in 2022. Single-use bioreactors are most commonly used in GMP production, process development, and research. Furthermore, the growing adoption of single-use bioreactors in process development is facilitating the market growth
• By usage insights, the lab-scale production segment held a larger share in 2022. Various types of waste creation and bioreactor operations are included in controlled laboratory-scale studies before scaling up. Due to such advantages offered by lab-scale bioreactors, the market is expected to grow during the forecast period
• By end-use insights, the CMOs & CROs segment held a larger share in 2022. CMOs are constantly changing processing facilities as well as lines, and the more stable product developers for bioprocessing equipment & facilities. Thus, propelling the market growth
• North America held the largest market share in 2022. The North American market is predicted to be driven due to the presence of key players and the well-established biopharmaceutical industry in the region
• The major companies providing single-use bioreactor products operating in the North American region include Danaher Corporation, Thermo Fisher Scientific, and others, and the presence of a highly developed healthcare research framework and substantial expenditure in R&D fuels the market growth in the region
• Asia Pacific is expected to expand at the highest rate in the forecast period. Factors such as rising investments and funding initiatives among Asian companies are expected to drive the market in the region. Furthermore, China is expected to be at the forefront owing to the high adoption of single-use technology in the country

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Single-use Bioreactors Market Segmentation

Grand View Research has segmented the global single-use bioreactors market based on the product, type, type of cell, molecule type, application, end-use, usage type, and region:

Single-use Bioreactors Product Outlook (Revenue, USD Million, 2018 - 2030)

• Single-use Bioreactor Systems
  • Up to 10L
  • 11-100L
  • 101-500L
  • 501-1500L
  • Above 1500L
• Single-use Media Bags
  • 2D Bags
  • 3D Bags
  • Others
• Single-use Filtration Assemblies
• Other Products

Single-use Bioreactors Type Outlook (Revenue, USD Million, 2018 - 2030)

• Stirred-tank SUBs
• Wave-induced SUBs
• Bubble-column SUBs
• Other SUBs

Single-use Bioreactors Type of Cell Outlook (Revenue, USD Million, 2018 - 2030)

• Mammalian Cells
• Bacterial Cells
• Yeast Cells
• Other Cells

Single-use Bioreactors Molecule Type Outlook (Revenue, USD Million, 2018 - 2030)

• Monoclonal Antibodies
• Vaccines
• Gene Modified Cells
• Stem Cells
• Other Molecules

Single-use Bioreactors Application Outlook (Revenue, USD Million, 2018 - 2030)

• Research and Development (R&D) or Process Development
• Bioproduction

Single-use Bioreactors End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical & Biopharmaceutical Companies
• CROs & CMOs
• Academic & Research Institutes

Single-use Bioreactors Usage Type Outlook (Revenue, USD Million, 2018 - 2030)

• Lab-scale Production
• Pilot-scale Production
• Large-scale Production

Single-use Bioreactors Regional Scope Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of Key Players in the Single-use Bioreactors Market

• Sartorius Stedim Biotech
• Thermo Fisher Scientific
• Danaher
• Merck KgaA
• Celltainer Biotech BV
• Getinge AB
• Eppendorf AG
• Cellexus
• PBS Biotech Inc.
• Distek Inc.
• Able Corporation & Biott Corporation
• G&G Technologies Inc.
• Solida Biotech GmbH
• Satake Chemical Equipment Mfg., Ltd.
• Stobbe Pharma GmbH
• bbi-biotech GmbH

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.

Automotive Exhaust Systems Market is Likely To Touch USD 68.45 Billion by 2028: Grand View Research Inc.

 Automotive Exhaust Systems Market Growth & Trends

The global automotive exhaust systems market size is expected to reach USD 68.45 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. Stringent government regulations associated with vehicle emissions coupled with the increasing penetration of after-treatment devices are anticipated to drive the demand for automotive exhaust systems. Moreover, the increasing sales of passenger cars and commercial vehicles along with the growing demand for lightweight emission systems are expected to create significant opportunities for players operating across the value chain of the market.

Automotive OEMs are working on several aspects, such as new and lightweight materials, drivetrain (engine/transmission) efficiency, and aerodynamic design, to reduce the vehicular weight. Conventional exhaust systems and their components are manufactured using materials such as stainless steel, cast iron, and mild steel/carbon steel. However, several automotive OEMs, exhaust system manufacturers, and other companies are working to provide lightweight products made from composite metals with high-temperature resistance. For instance, Tenneco Inc. offers lightweight compact systems and lightweight after-treatment and dosing systems to improve the fuel economy and thermal management of the exhaust system and overall vehicle.

Automotive Exhaust Systems Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 44.81 billion
Revenue forecast in 2028	USD 68.45 billion
Growth Rate	CAGR of 6.2% from 2021 to 2028
Base year for estimation	2020
Historical data	2016 - 2019
Forecast period	2021 - 2028

The outbreak of the COVID-19 pandemic hampered the overall business scenario in 2020, and the economy is expected to continue experiencing its aftermath over the next few years. Supply chains were disrupted and production was suspended temporarily at several production facilities because of the lockdowns and restrictions imposed in various parts of the world. Subsequently, shipments got delayed and production volumes plummeted, thereby affecting the overall automotive production. As a result of the pandemic, several companies and exhaust system manufacturers confronted a year-on-year decline in unit volumes and revenues. For instance, Eberspacher, a prominent market player in the exhaust system market, witnessed a decline in the Exhaust Technology business segment revenue. The company's exhaust technology sales decreased by 0.4% year-over-year to USD 6,033.1 million in 2020 compared to USD 6,099.46 million in 2019.

In 2020, Asia Pacific captured around 60% of the automotive exhaust systems demand and is estimated to register a CAGR of around 7.0% over the forecast period. This share is attributed to the increasing production and sales of passenger cars and commercial vehicles in emerging economies such as India and China. China has been the largest automotive manufacturer in the world since 2008. The country's automotive production annual volumes are greater than the volumes of the European Union (EU). India is the fifth-largest automotive manufacturing country in the world. The Indian market is estimated to expand at the highest CAGR over the forecast period as the Indian government is taking several initiatives to develop the automotive sector in the country. The Automotive Mission Plan 2016-2026 is a joint initiative by the Indian Automotive Manufacturers and the government to plan a roadmap for developing the automotive sector in the country.

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Automotive Exhaust Systems Market Report Highlights

• In terms of component, the muffler segment is estimated to register the highest CAGR of over7% from 2021 to 2028 owing to the increasing demand for dual-exhaust muffler systems in mid-sized and luxury vehicles
• In terms of fuel type, the gasoline segment emerged as the largest segment in 2020 and is anticipated to retain its dominance over the forecast period
• In terms of vehicle type, the commercial vehicles segment is projected to expand at the highest CAGR of around 7.5% over the forecast period due to increasing demand for commercial vehicles across the transportation and logistics sectors
• Asia Pacific emerged as the largest regional market for automotive exhaust systems in 2020 and is anticipated to retain its dominance over the forecast period

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Automotive Exhaust Systems Market Segmentation

Grand View Research has segmented the global automotive exhaust systems market based on component, fuel type, vehicle type, and region:

Automotive Exhaust Systems Component Outlook (Value, USD Million, 2016 - 2028)

• Exhaust Manifold
• Muffler
• Catalytic Converter
• Oxygen Sensor
• Exhaust Pipes

Automotive Exhaust Systems Fuel Type Outlook (Value, USD Million, 2016 - 2028)

• Gasoline
• Diesel

Automotive Exhaust Systems Vehicle Type Outlook (Value, USD Million, 2016 - 2028)

• Passenger Car
• Commercial Vehicles

Automotive Exhaust Systems Regional Outlook (Value, USD Million, 2016 - 2028)

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

List of Key Players in the Automotive Exhaust Systems Market

• BENTELER International
• Bosal
• Continental AG
• Eberspacher
• Faurecia
• FUTABA INDUSTRIAL CO., LTD.
• Friedrich Boysen
• Sejong Industrial Co., Ltd.
• Tenneco Inc.
• Yutaka Giken Company 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.

Surfing Apparel And Accessory Market Expected to Witness a Sustainable Growth over 2030: Grand View Research Inc.

 

Surfing Apparel And Accessories Market Growth & Trends

The global surfing apparel and accessories market size is expected to reach USD 14.1 billion by 2030, registering a CAGR of 5.5% according to a new report by Grand View Research, Inc. Surfing is gaining popularity among water adventurers as people could follow all the social distancing guidelines while surfing. Surfing clothes and accessories are also gaining popularity because surfing was one of the only sports that people could participate in during the pandemic.

In 2020, the surf apparel product segment held the largest market share, and this trend is likely to continue throughout the forecast period. The development of novel materials and technical textiles for the creation of fashionable and high-performance surfwear or apparel has aided market expansion. Furthermore, as the number of female surfers has increased, so does the demand for surfing-inspired clothing such as bikinis, swimsuits, shorts, t-shirts, short onesies, and vests made of water-resistant fabrics, such as polyester.

In the surf apparel industry, a recent trend has been the increase in the number of sustainable items. Consumers are choosing environmentally-friendly surf apparel that does not pollute the environment. The majority of surf clothing and accessory producers are based in Europe, Asia Pacific, and North America, where the necessary raw materials are readily available.

Since stand-alone shops were authorized to reopen in June, board-sports businesses have reported a surge in hard goods sales. On July 13, 2020, the state government issued a decree requiring stores in indoor malls in certain California counties to remain closed. According to Bob Abdel, co-owner and buyer of Huntington Beach, Calif.-based Jack's Surfboards, the business is good, the only issue is with the inventory. He stated that Surfboards, skateboards, and wetsuits are coveted commodities. Orders take five weeks to come to retailers and a lot of businesses were caught off guard. As a result, finding items has been quite difficult for consumers. Soft-goods sales have also been hampered by supply-chain problems. During the shutdown of non-essential industries, many surf apparel companies suspended manufacturing. There have also been issues with staffing industries and warehouses in the United States since some workers sought to avoid being exposed to COVID-19.

Channel Islands Surfboards, Quiksilver, Firewire Surfboards, and Billabong International Limited, among other prominent surf apparel manufacturers, have been concentrating on the production and design of innovative materials and technical fabrics for trendy and high-performance surfwear or apparel, which has positively impacted market growth.

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Surfing Apparel And Accessories Market Report Highlights

• The surf apparel product segment accounted for the largest share of over 75.0% in 2020. This is attributed to professional surfers' increased desire for accessories, such as wetsuit booties and reef socks
• The online distribution channel segment is estimated to expand at the highest CAGR of 6.8% over the forecast period
• North America held the largest share of over 39.4% in 2022 owing to the growing popularity of surfing among adventure enthusiasts in this region

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Surfing Apparel And Accessories Market Segmentation

Grand View Research has segmented the surfing apparel and accessories market based on product, distribution channel, and region:

Surfing Apparel And Accessories Product Outlook (Revenue, USD Million, 2017 - 2030)

• Apparels
  • Wetsuits
  • Board Shorts
  • Surf Tees
  • Others
• Accessories
  • Surfboard Leash
  • Fins
  • Others

Surfing Apparel And Accessories Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Offline
• Online

Surfing Apparel And Accessories Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
• Europe
  • UK.
  • France
  • Spain
• Asia Pacific
  • Australia
  • New Zealand
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List Of Key Players Of Surfing Apparel And Accessories Market

• Billabong
• Hurley, Inc.
• O’Neill
• RVCA
• Volcom, LLC
• GLOBE INTERNATIONAL LIMITED
• REEF
• Roxy, Inc.
• Ltd.
• Quiksilver, 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.

Security Printing Market Is Expected To Accomplish A Valuation Of Around USD 4.04 Billion By 2028: Grand View Research Inc.

 Security Printing Market Growth & Trends

The global security printing market size is estimated to reach USD 4.04 billion by 2028, according to the new report by Grand View Research, Inc. The market is expected to witness a CAGR of 3.9% from 2021 to 2028. Security printing deals with the printing of items such as passports, banknotes, product authentication, stock certificates, tamper-evident labels, postage stamps, cheques, and identity cards.

Security printing is widely used to prevent tampering, forgery, and counterfeiting. Different types of security printing techniques are used for different applications. The market is estimated to witness growth over the forecast period owing to rising incidences of counterfeiting and forgery practices. Counterfeiting practices are mainly rampant in banknotes, postage stamps, passports, stock certificates, identity cards, and product authentication. Security printing helps in the prevention of forgery and tampering of the aforementioned instruments.

The key end market verticals in security printing include Financial Services, Banking, Insurance, personal ID industry, ticketing industry driving license industry, passport industry, and birth certificate issuing. Several methods used in security printing involve holograms, Ultra Violet (UV) printing intaglio printing, micro printing, geometric lathe work, magnetic inks, anti-copying marks, guilloches, color-shifting ink, and rainbow printing.

Security Printing Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 3.09 billion
Revenue forecast in 2028	USD 4.04 billion
Growth rate	CAGR of 3.9% from 2021 to 2028
Base year for estimation	2020
Historical data	2017 - 2019
Forecast period	2021 - 2028

Security printing can help prevent counterfeiters and reduce fraudulent instances. For instance, in the case of currencies and bank checks, micro printing plays an important role to avoid counterfeiting practices. Additionally, serial numbers enable easier identification of legitimate documents for auditing and tracking. The serial numbers are also used in detecting counterfeits by tracking a check digit. Magnetic ink character recognition technology considerably helps in the reduction of errors in the computerized or automated reading of documents and currencies.

The increasing need for brand protection is expected to support market growth. This can be attributed to the companies indulging in huge losses and reputation dilution due to the copying of the brand names by the product pirates. Increased emphasis on brand protection is expected to be conducive for market growth. Recently many of the techniques used to protect high-value documents have become available to commercial printers, with the use of traditional offset, digital platforms, presses, or flexographic.

Security paper and polymer materials are often used as substrates to perform security printing. Several methods used in security printing include magnetic inks, intaglio printing, holograms, micro printing, anti-copying marks, geometric lathe work, guilloches, rainbow printing, fine-line printing prismatic coloration, color-shifting ink, and Ultra Violet (UV) printing.

The market finds major applications in the banking and tourism sectors. The tourism sectors were drastically impacted by the Covid-19 pandemic. Restrictions on domestic and international travel have considerably affected the tourism sector. The shut-down of manufacturing units caused a delay in the production of security printer parts and accessories, leading to a decline in the sales of security printers.

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Security Printing Market Report Highlights

• Increasing awareness of various fraudulent activities among customers is expected to create new opportunities for the market growth
• The critical factors driving the market growth are increasing technological advancements and the adoption of currency printing for better regulation and governance
• Companies are heavily investing in the research and development of efficient technological solutions to secure financial documents and currency
• The lithographic printing segment dominated the market in 2020 and is expected to expand its market share to more than 30% by 2028
• The legal and government documents application segment held the largest market share in 2020 owing to increasing printing, reprinting, and circulation of banknotes and the growing tourism industry resulting in the rising implementation of security printing
• North America is expected to witness considerable growth over the forecast period on account of the growing awareness about document security and high instances of forgery and counterfeiting
• The prominent players in the industry include Agfa-Gevaert Group; DSS; Printegra, An Ennis Company; TROY Group, Inc.; and Wellspring Software, Inc. Key players are focusing on research and development, which, in turn, would help increase their market presence

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

Security Printing Market Segmentation

Grand View Research has segmented the global security printing market based on printing type, application, and, region:

Security Printing Type Outlook (Revenue, USD Million, 2017 - 2028)

• Screen Printing
• Letterpress Printing
• Digital Printing
• Lithographic Printing
• Intaglio Printing
• Others

Security Printing Application Outlook (Revenue, USD Million, 2017 - 2028)

• Cheques
• Legal & Government Documents
• Certificates
• Others

Security Printing Regional Outlook (Revenue, USD Million, 2017 - 2028)

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

List of Key Players in the Security Printing Market

• Agfa-Gevaert Group
• Amgraf, Inc.
• DSS
• Graphic Dimensions Inc.
• GRAPHIC SECURITY SYSTEMS CORPORATION (GSSC)
• Plus Technologies LLC
• Printegra, An Ennis Company
• The Flesh Company
• TROY Group, Inc.
• Wellspring Software, Inc.
• Рrintech

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.

Real World Evidence Solutions Market to Reach USD 4.55 Billion by 2030: Grand View Research Inc.

 Real World Evidence Solutions Market Growth & Trends

The global real world evidence solutions market size is expected to reach USD 4.55 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.2% from 2023 to 2030. The key factors driving the real-world evidence (RWE) solutions market include favorable government regulations and a shift from volume to value-based care. Furthermore, the increasing prevalence of chronic disorders is anticipated to positively influence market growth.

During the pandemic, companies in the RWE solutions market diverted their focus on providing solutions for curbing the spread of COVID-19. For instance, IBM collaborated with Salesforce for building digital health passes, which incorporated data such as vaccine status, temperature checks, and COVID-19 test results for helping organizations to reopen safely. It also partnered with ServiceNow on Watson AIOps for supporting it to continue its leadership in transformative artificial intelligence by helping clients automate IT operations and reduce risks.

Real World Evidence Solutions Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 2.62 billion
Revenue forecast in 2030	USD 4.55 billion
Growth rate	CAGR of 8.2% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

According to PerkinElmer, real-world evidence solutions offer around USD 300 to 500 Billion in top-down opportunity for the U.S. healthcare industry alone. In addition, many life science companies are witnessing ad hoc value from selected RWE case studies and demonstrating around USD 100 million of bottom-up impact. Therefore, if a company captures USD 1 billion in real-world evidence value, it ultimately creates more than USD tens of billions in terms of healthcare improvements. This is anticipated to boost market growth.

The adoption and usage of RWE solutions are higher in developed markets of North America and Europe owing to supportive initiatives by legal, government, and other regulatory bodies. For instance, in October 2021, FDA selected the Aetion Evidence Platform to use RWE to analyze COVID-19 interventions and further regulatory science and innovation. Initiatives by regulatory agencies are supporting the expansion of RWE from post-market safety monitoring to other applications, such as for clinical trial design and observational studies and to substantiate coverage decisions.

Market players are investing in many strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, to maintain a competitive edge in the market. For instance, in August 2021, Syneos Health partnered with Action for offering RWE solutions for advanced drug development and commercialization. This partnership brought together Syneos Health’s proprietary data collection research solutions and Aetion’s Evidence platform, AEP, for generating evidence through patient data curation and real world data.

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Real World Evidence Solutions Market Report Highlights

• Favorable government initiatives and a shift from volume to value-based care are expected to boost the market growth
• The services component segment led the market in 2022 owing to its increasing demand over the forecast period
• The drug development and approvals application segment dominated the market in 2022 owing to the rising adoption of RWE solutions in pharmaceutical companies for this application
• The healthcare payers' end-user segment is anticipated to expand at the fastest CAGR over the forecast period owing to the increasing awareness among payers regarding drug and medical device safety
• North America led the global market in 2022 with a revenue share of more than 40.0% owing to the presence of major players in the region
• Asia Pacific is expected to be the fastest-growing regional market from 2023 to 2030 owing to the presence of contract research organizations in the region
• The market is fairly competitive. For instance, in April 2021, Thermo Fisher Scientific announced that it is set to acquire PPD, Inc. for USD 47.50 per share

Access Press Release@ https://www.grandviewresearch.com/press-release/global-real-world-evidence-solutions-market

Real World Evidence Solutions Market Segmentation

Grand View Research has segmented the global real world evidence (RWE) solutions market based on component, application, end-user, therapeutic area, and region:

Real World Evidence Solutions Component Outlook (Revenue, USD Million, 2018 - 2030)

• Services
• Data Sets
  • Clinical Settings Data
  • Claims Data
  • Pharmacy Data
  • Patient-Powered Data

Real World Evidence Solutions Application Outlook (Revenue, USD Million, 2018 - 2030)

• Drug Development & Approvals
• Medical Device Development & Approvals
• Reimbursement/Coverage & Regulatory Decision Making
• Post Market Safety & Adverse Events Monitoring

Real World Evidence Solutions End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Healthcare Companies (Pharmaceutical, Biopharmaceutical, Medical Device)
  • Clinical research
  • Commercial (inclusive of marketing, etc.)
  • HEOR
  • Others (market access, etc.)
• Healthcare Payers
• Healthcare Providers
• Others

Real World Evidence Solutions Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology
• Cardiology
• Neurology
• Diabetes
• Psychiatry
• Respiratory
• Other therapeutic areas (Immunology, Gastroenterology, etc.)

Real World Evidence Solutions Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • Israel
  • UAE
  • Kuwait

List of Key Players of Real World Evidence Solutions Market

• IQVIA
• IBM
• PPD, Inc. (acquired by Thermo Fisher Scientific Inc.)
• Parexel International Corporation
• PerkinElmer Inc.
• Icon Plc
• Oracle
• Syneos Health
• Cegedim Health Data
• 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.

Socks Market Top Players, Analysis And Forecast Till 2030: Grand View Research Inc.

 Socks Market Growth & Trends

The global socks market is expected to reach USD 73.6 billion by 2030, registering a CAGR of 6.4% over the forecast period, according to a new report by Grand View Research, Inc. The increasing trend of formal clothing among white-collar professionals is anticipated to play a vital role in boosting product demand. This, in turn, is estimated to increase market growth over the forecast period. Furthermore, growing spending on health, as well as fitness, is anticipated to fuel the demand for different footwear accessories that include sports socks and ankle socks. Over the last couple of years, different healthcare professionals have increased their spending on publishing several research papers on keeping the feet healthy on account of the growing occurrences of foot disorders related to diabetes.

As a result, some of the companies including Dr. Oxyn and Podolite have launched customized diabetic socks to reduce the risk of foot ulcers, which function as a root cause of infections, or amputation. The presence of corporate offices in emerging economies including China, Bangladesh, India, and Mexico, due to supportive policies to promote investments at a domestic level, is expected to remain a favorable factor for industry growth. However, increasing demand for footwear, such as sandals and slippers, is hindering the growth of this market. Rising demand for specialized socks along with the increasing awareness about fitness & health in various regions will create development opportunities for the industry over the forecast period.

Socks Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 47.1 billion
Revenue forecast in 2030	USD 73.6 billion
Growth rate	CAGR of 6.4% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

Industry development is likely to be higher in emerging regions due to the increasing penetration of corporate offices, which creates ample growth opportunities for the market. The COVID-19 pandemic has impacted the industry, as the product demand was decreased globally. With the lockdown and movement restrictions, socks sales were drastically impacted. However, top players reinvented their product lines and most of them utilized the lockdown period to innovate their production and retail approach. The demand for socks is significantly influenced by changing fashion and style trends. As people seek to stay up-to-date with the latest trends and styles, they often purchase new socks that match their fashion preferences. Socks with colorful patterns or bold designs may be popular in one season, while plain and classic styles may be preferred in another.

This trend-driven demand creates opportunities for companies to introduce new sock designs and styles to capture consumer interest and generate sales. Socks designed for specific sports or fitness activities are gaining popularity among enthusiasts. These specialized socks offer benefits, such as improved performance, increased comfort, and reduced risk of injury. For instance, compression socks worn during exercise can improve blood circulation and help prevent swelling and soreness in the feet and legs. As more people engage in sports and fitness activities, the demand for specialized socks is expected to grow, providing opportunities for companies that cater to this niche market.

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Socks Market Report Highlights

• Casual socks are the leading product segment and held a share of almost 54% of the global revenue in 2022. Many brands are using sustainable and eco-friendly materials, while others are incorporating compression or moisture-wicking technologies into their socks
• The athletic socks segment is projected to accelerate at a CAGR of 6.9% during the forecast period. This growth can be attributed to several factors, such as the increasing popularity of athleisure wear, rising awareness about the importance of comfortable & supportive socks for athletic performance, and the growth of e-commerce platforms that make it easier for consumers to purchase athletic socks
• Men’s socks held a revenue share of 62.8% in 2022. The segment is likely to continue its growth in the coming years as consumers have become more aware of the importance of high-quality socks for both comfort and style. The women’s socks market is progressing rapidly and is expected to improve by 1.6x by 2030. One of the reasons for the growth in the women's socks market is the changing fashion trends. Socks are no longer seen as just a functional item but also as a fashion accessory. As a result, women are now looking for socks that not only provide comfort but also look stylish
• Hypermarkets and supermarkets are the leading distribution channel for socks and held a share of 56.7% of the global revenue in 2022. However, customers are levitating towards online retail channels and thus, the online segment is expected to register a CAGR of 7.1% during the forecast period

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

Socks Market Segmentation

Grand View Research has segmented the global socks market on the basis of product, end-use, distribution channel, and region:

Socks Product Outlook (Revenue, USD Million, 2017 - 2030)

• Casual
• Formal
• Athletic

Socks End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Men
• Women
• Children

Socks Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Hypermarkets And Supermarkets
• Convenience Stores
• Online

Socks Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in the Socks Market

• Nike Inc.
• Puma S.E.
• Adidas A.G.
• Asics Corp.
• Skechers USA, Inc.
• Hanesbrands Inc.
• Under Armour, Inc.
• VF Corp.
• Jockey International Inc.
• Drymax Technologies 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.