Tuesday, 2 April 2024

Healthcare IT Market Is Projected To Reach Approximately $1,834.3 Billion By 2030: Grand View Research Inc.

 

Healthcare IT Market Growth & Trends

The global healthcare IT market size is expected to reach USD 1,834.3 billion by 2030, growing at a CAGR of 15.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising demand for advanced healthcare IT solutions, including Electronic Health Record (EHR), along with increased smartphone usage and the need for remote patient monitoring for improved out-of-hospital care are driving the overall growth.

For instance, a 2021 article in the Journal of Medical Internet Research titled 'Adoption of EHRs in China over the Past Decade: A Comparative Study with the U.S.' highlights the increasing adoption of EHRs in both the U.S. and China. However, adoption rates vary due to different strategies at the country level. Hospitals in the U.S. and China showed 9.6% and 6.1% adoption rates, respectively. Notably, 534 hospitals in the U.S. adopted EHRs annually on average. In China, the number was significantly higher at 1,500, indicating the need for a greater effort.

A rise in healthcare spending across the globe is driving the demand for the implementation of IoT solutions in the healthcare sector. According to the estimates published by the World Health Organization (WHO) in 2020, global healthcare spending witnessed a significant surge, accounting for 11% (USD 9 trillion) of the global GDP. The healthcare industry is evolving from a fee-for-service model to a value-based model, wherein treatment outcomes are reimbursed. The pressure of reducing healthcare costs is rising globally, as the cost of healthcare is increasing faster than economic growth.

Advancements in healthcare IT are providing opportunities to cut down healthcare spending by improving care delivery and clinical outcomes. Best possible interventions enabled through timely data aggregation coupled with an increase in patient involvement for the management of chronic care through patient engagement portals are among the factors contributing to cost reduction. IoT-enabled clinical trials also offer an opportunity for cost reduction as IoT simplifies the overall process and captures sophisticated endpoints. Remote patient monitoring solutions help in handling non-critical patients at home, which eventually reduces hospital admissions and improves workflow efficiency. In addition, IoT solutions also enhance clinical operations through asset tracking and improvement in data capturing help in significant cost savings.

Market players are focusing on innovative product development strategies. Notable players are integrating big data, Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) algorithms in their existing solutions to enhance health & medical processes, which is fueling the market growth. For instance, in April 2023, eClinicalWorks announced the integration of its Practice Management and EHR solutions with cognitive services, including ChatGPT and machine learning models from Azure OpenAI Service, to enhance its technology offerings. This strategic move followed eClinicalWorks' significant USD 100 million investment in Microsoft Azure cloud services, allowing the company access to the latest innovations within the Microsoft Cloud ecosystem.

Request a free sample copy or view report summary: Healthcare IT Market Report

Healthcare IT Market Report Highlights

  • Based on application, the electronic prescribing systems segment is expected to exhibit the fastest CAGR of 26.8% from 2024 to 2030. An increase in awareness of the advantages of e-prescribing is fueling the adoption of e-prescribing systems
  • North America dominated with a revenue share of 40.0% in 2023. This growth is fueled by the extensive adoption of healthcare IT solutions and services, especially in the U.S., as providers strive to enhance patient care while reducing costs
  • Asia Pacific is anticipated to grow at the fastest CAGR of 22.0% from 2024 to 2030, due to the high demand for healthcare IT services, owing to increased government spending on healthcare

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

Healthcare IT Market Segmentation

Grand View Research has segmented the global healthcare IT market based on application, delivery mode, end use and region:

Healthcare IT Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Computerized Provider Order Entry Systems
  • Electronic Prescribing Systems (E-Prescribing Solutions)
  • Laboratory Information
  • Clinical Information Systems
  • Regulatory Information Management (RIM) Systems
  • Medical Imaging Information Systems
    • Radiology Information Systems
    • Monitoring Analysis Software
    • Picture Archiving and Communication Systems
  • Electronic Health Records
    • Licensed Software
    • Technology Resale
    • Subscriptions
    • Professional Services
    • Others
  • Tele-healthcare
    • Tele-care
    • Tele-Health
  • Revenue Cycle Management
    • Integrated
    • Standalone
  • eClinical Solutions
    • Electronic Clinical Outcome Assessment (eCOA)
    • Electronic Data Capture (EDC) & CDMS
    • Clinical Analytics Platforms
    • Clinical Data Integration Platforms
    • Safety Solutions
    • Clinical Trial Management System (CTMS)
    • Randomization and Trial Supply Management (RTSM)
    • Electronic Trial Master File (eTMF)
    • eConsent
  • Population Health Management (PHM)
  • Digital Healthcare Supply Chain Management
    • Software
    • Hardware
      • Barcodes
      • RFID Tags
    • Services
  • Clinical alarm management
    • Nurse Call Systems
    • Physiological Monitors
    • Bed Alarms
    • EMR Integration Systems
    • Ventilators
    • Others
  • Healthcare Customer relationship management (CRM)
    • Customer Service and Support
    • Digital Commerce
    • Marketing
    • Sales
    • Cross -CRM
  • Technology Solutions in the Healthcare Payers
    • Enrollment and Member Management
    • Provider Management
    • Claims Management
    • Value based Payments
    • Revenue Management and Billing
    • Analytics
    • Personalize/CRM
    • Clinical Decision Support
    • Data management and support
    • Others
  • Healthcare Analytics
    • Descriptive Analysis
    • Predictive Analysis
    • Prescriptive Analysis

Healthcare IT Delivery Mode Outlook (Revenue, USD Million, 2018 - 2030)

  • Solutions
    • Software
      • On-Demand/On-premise
      • Cloud-based/ Web-based
    • Services
  • Hardware

Healthcare IT End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Healthcare Providers
    • Hospitals & Clinics
    • Home Care Settings
    • Outpatient Facilities
      • Ambulatory surgery centers (ASCs)
      • Physician’s Clinic
      • Others (Laboratories, Pharmacy, etc.)
    • Long-term Care Facilities
    • Specialty Centers
  • Healthcare Payers
    • Government
    • Commercial
  • Life Sciences Industry
    • Pharma & Biotech Organizations
    • Medical Device Manufacturers
    • Contract Research Organizations (CROs)
    • Academic institutes

Healthcare IT regional Outlook by (Revenue, USD Million, 2018 - 2030)

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

 List of Key Players in the Healthcare IT Market

  • Philips Healthcare
  • McKesson Corporation
  • eMDs, Inc.
  • Veradigm Inc. (formerly Allscripts Healthcare Solutions, Inc.)
  • Athenahealth, Inc. (Acquired by Hellman & Friedman and Bain Capital)
  • Carestream Health
  • GE Healthcare
  • Agfa- Gevaert Group
  • Hewlett Packard Enterprise Development LP
  • Novarad
  • Optum, Inc.
  • IBM
  • Oracle
  • SAS Institute, Inc.
  • IQVIA
  • Verisk Analytics, Inc.
  • Cerner Corporation
  • SAP
  • Accenture

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.

Peptide And Oligonucleotide CDMO Market Trends, Demand, Production, Analysis and Forecast to 2030: Grand View Research Inc.

 Peptide And Oligonucleotide CDMO Market Growth & Trends

The global peptide and oligonucleotide CDMO market is expected to reach USD 5.67 billion by 2030, according to a new report by Grand View Research, Inc. , registering a CAGR of 12.5% from 2024 to 2030. The growing recognition of peptides and oligonucleotides as valuable therapeutic agents for various diseases is fueling the demand for CDMO services. Moreover, the increasing pipeline of peptides and oligonucleotide therapeutics and the growing penetration of CDMOs in the field are a few of the factors driving the growth of the market.

The market is fragmented, with several players having similar technological and processing capabilities. These companies offer various services related to peptide and oligonucleotide development, data interpretation, sample analysis, and clinical trial support. The market is characterized by fierce competition driven by factors such as quality assurance, technological advancements, regulatory compliance, and the ability to offer high-value and diverse services.

The growing investment by major companies in the development and manufacturing of peptides and oligonucleotide-based therapeutics is one of the prominent factors supporting the growth of the market. For instance, in September 2023, CordenPharma announced the expansion of its commercial peptide production capabilities through the enhancement of facilities at CordenPharma Colorado, which now stands as the world's largest Solid-Phase Peptide Synthesis (SPPS) manufacturing facility. Additionally, in September 2023, CombiGene selected AmbioPharm as the CDMO partner for their peptide-based pain project, COZY01, which also involves Zyneyro.

The COVID-19 pandemic moderately impacted the market. The early stages of the COVID-19 pandemic had a notable impact on clinical trials, as a result of travel restrictions, disruptions in the supply chain, and setbacks in clinical trials. Nonetheless, it also presented prospects, notably the heightened emphasis on antiviral peptides and the swift creation of mRNA vaccines. Furthermore, there has been a substantial increase in collaborations and partnerships across biopharmaceutical companies with an aim to boost the production of peptide-based therapeutics.

Request a free sample copy or view report summary: Peptide And Oligonucleotide CDMO Market Report

Peptide And Oligonucleotide CDMO Market Report Highlights

  • The peptides segment accounted for the largest share of 66.3% in 2023.The segment is driven by the growing demand for peptide-based therapeutics and the rise in the number of clinical trials involving the use of peptides.
  • Based on the service type, the contract manufacturing segment accounted for the largest share of 65.0% in 2023. The substantial market share in this segment primarily results from the growing demand for outsourced manufacturing services, driven by the cost-effectiveness of outsourced manufacturing.
  • Biopharmaceutical companies are anticipated to witness the highest CAGR of 13.0% across the analysis timeframe due to the increasing number of biopharmaceutical companies focusing on research and development of peptide-based drugs.
  • Asia Pacific is anticipated to witness the highest CAGR of 13.4% during the forecast time frame. The substantial growth is primarily attributed to the rising trend of Western pharmaceutical companies outsourcing their manufacturing operations to emerging economies like China and India.

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

Peptide And Oligonucleotide CDMO Market Segmentation

Grand View Research has segmented the global peptide and oligonucleotide CDMO market based on product, service type, end use, and region:

Peptide And Oligonucleotide CDMO Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Peptides
  • Oligonucleotides

Peptide And Oligonucleotide CDMO Service Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Contract Development
  • Contract Manufacturing

Peptide And Oligonucleotide CDMO End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmaceutical Companies
  • Biopharmaceutical Companies
  • Others

Peptide And Oligonucleotide CDMO 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
    • South Korea
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait

List of Key Players in the Peptide And Oligonucleotide CDMO Market

  • PolyPeptide Group
  • STA Pharmaceutical Co. Ltd.
  • Bachem
  • Creative Peptides
  • Aurigene Pharmaceutical Services Ltd.
  • Merck KGaA
  • EUROAPI
  • Curia Global, Inc.
  • CordenPharm
  • Sylentis, S.A.

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.

Live Commerce Platforms Market Key Players ,Industry Share ,Growth, And Forecast To 2030: Grand View Research Inc.

 Live Commerce Platforms Market Growth & Trends

The global live commerce platforms market size is anticipated to reach USD 3.48 billion by 2030, registering a CAGR of 21.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors, such as increasing demand for online shopping and more engaging & interactive shopping experiences is expected to drive market growth. An exponential rise in smartphone users and high-speed internet availability also contribute to market growth. In addition, the availability of first-party data for e-commerce companies to provide personalized shopping experiences and increasing engagement of the Gen Z population with live commerce platforms support industry growth. Live commerce platforms significantly contribute to the expansion of e-commerce. Platforms, such as Alibaba's Taobao Live and Amazon, have shown an increase in consumer engagement due to live-stream commerce.

For instance, in 2020, Alibaba's Taobao launched an application, a platform that integrates product showcasing with the ability to purchase in real-time. Incorporating augmented reality/virtual reality (AR/VR), artificial intelligence (AI), and 3D technology presents opportunities for enhancing live stream experience. Implementing AR/VR for virtual try-ons, AI-enabled personalized recommendations, and innovative interactive features can improve user engagement with the help of virtual try-ons, product visualization, interactive product demos, and in-store navigation tools. In addition, safe online transactions are crucial for live commerce; thus, a highly reliable payment system is needed to support transactions during peak processing times. A research paper published in June 2023 by KTH Royal Institute of Technology of Sweden reveals that Google's ARCore data shows a 40% adoption rate for mobile AR within the total AR mobile market.

Request a free sample copy or view report summary: Live Commerce Platforms Market Report

Live Commerce Platforms Market Report Highlights

  • The apparel & fashion category segment dominated th industry with a share if 41.1% in 2023 due to the attractive attributes and interactive nature of live commerce. In October 2023, during Amazon's Great Indian Festival, more than 1,000 hours of livestreams were held on Amazon Live. Over 300 influencers assisting customers in making purchase decisions and 18 hours of live streaming helped the company achieve an all-time high viewership
  • The consumer electronics segment is expected to grow at the fastest CAGR from 2024 to 2030. The market is growing in this segment due to its ability to offer real-time demonstrations and in-depth insights into technological products. The rising trend of connected homes supports smart appliance penetration globally. Electronic appliances with voice assistance and internet connectivity are widely adopted for convenient usage. In August 2021, Samsung launched India's first live online shopping platform,' Samsung Now,' and held a pre-booking event for mobile devices, such as the Galaxy Z Fold3 5G and Galaxy Z Flip3 5G
  • Asia Pacific led the market in 2023. The region has shown a high internet penetration rate and widespread smartphone usage, creating several potential customers. Social media platforms have become integral to daily life, providing live commerce platforms with a direct channel to reach their target audience. According to the Statistical Report on China's Internet Development, the number of users for live streaming in China grew to 716 million as of June 2022, an increase of 12.90 million from December 2021, accounting for 68.1% of all Internet users in the country. Moreover, the user count for live-streaming e-commercehas reached 469 million, an increase of 5.33 million from the end of 2021, accounting for 44.6% of all internet users
  • In August 2023, CommentSold announced a partnership with TikTok Shop that enables live commerce integration in the U.S. CommentSold merchants can now smoothly stream live events on TikTok using the CommentSold platform along with complete integrated live streaming production, sales, and communication management with TikTok Shop

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

Live Commerce Platforms Market Segmentation

Grand View Research has segmented the global live commerce platforms market based on category and region:

Live Commerce Platforms Category Outlook (Revenue, USD Million, 2018 - 2030)

  • Apparel and Fashion
  • Cosmetics & Personal Care
  • Consumer Electronics
  • Furnishing
  • Entertainment
  • Others

Live Commerce Platforms Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in Live Commerce Platforms Market

  • CommentSold
  • GhostRetail, Inc.
  • Firework
  • ShopShops
  • TalkShopLive
  • Restream, Inc.
  • Bambuser AB
  • Livescale
  • com Ltd.
  • Klarna Bank AB (publ)

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.

Atopic Dermatitis Clinical Trials Market Is Ready To Grow Globally With Phenomenal Trend Diversity by 2030

Atopic Dermatitis Clinical Trials Market Growth & Trends

The global atopic dermatitis clinical trials market is expected to reach USD 4.84 billion by 2030 and expand at a CAGR of 11.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Advancements in biotechnology and medicine, growing prevalence of atopic dermatitis, increasing investments by pharmaceutical companies in the development of novel drugs, rising partnerships and acquisitions among CROs and sponsor companies, technological advancements in clinical research, growing pipeline of atopic dermatitis products, and globalization of clinical trials are few of the factors supporting the lucrative growth of the global market during the forecast period.    

For pharmaceutical companies, innovation and easy access to clinics are critical factors. Furthermore, pharmaceutical and biopharmaceutical companies increasingly focus on developing novel drugs for treating atopic dermatitis. For instance, the U.S. FDA stated that several potential therapeutics will be launched in the coming years to treat atopic dermatitis. A few of the potential biologics likely to enter the market include Rocatinlimab by -Kyowa Kirin Co., Ltd., lebrikizumab by Eli Lilly and Company, CM310 by Keymed Biosciences, tozorakimab by AstraZeneca and several others. Hence, the increasing pipeline of therapeutics is one of the major factors augmenting market growth.

Furthermore, the increasing prevalence of atopic dermatitis is a significant catalyst propelling the market growth. Atopic dermatitis is a chronic inflammatory skin condition that has witnessed a notable rise in incidence globally, affecting individuals of all ages. In 2022, approximately 223 million individuals are coping with atopic dermatitis, per the Global Burden of Disease (GBD) 2022 report. Among them, approximately 43 million falls within the age group of 1 to 4 years. This surge in prevalence has created a compelling need for more effective and targeted treatment options. As a result, pharmaceutical companies, research institutions, and healthcare organizations are increasingly investing in clinical trials to explore novel therapeutic interventions.

Moreover, several companies are focusing on inorganic strategic initiatives such as mergers and acquisitions to enhance their position in the industry. For instance, in March 2022, Pfizer Inc. announced the acquisition of Arena Pharmaceuticals, a clinical-stage company dedicated to developing innovative potential therapies for various immuno-inflammatory diseases, including atopic dermatitis.

Request a free sample copy or view report summary: Atopic Dermatitis Clinical Trials Market Report

Atopic Dermatitis Clinical Trials Market Report Highlights

  • Large molecules dominated the molecule type segment with a 53.2% share in 2023 due to the increasing pipeline of biologics penetrating the atopic dermatitis clinical trials industry.
  • Interventional trials dominated the market owing to the large number of clinical trials with interventional study designs.
  • Phase III category by phase segment is anticipated to hold the highest market share in 2023. This is due to the increasing number of drugs undergoing phase III studies. Moreover, the cost of phase III studies is much higher than the other phases, contributing to the largest market share.
  • North America dominated the market owing to factors such as increasing the prevalence of atopic dermatitis in the region, presence of major market players in the region, government support for quality healthcare, and availability of reimbursement.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-atopic-dermatitis-clinical-trials

Atopic Dermatitis Clinical Trials Market Segmentation

Grand View Research has segmented the atopic dermatitis clinical trials market on the basis of molecule type, study design, phase and region:

Atopic Dermatitis Clinical Trials Molecule Type Outlook (Revenue, USD Million; 2018 - 2030)

  • Small molecules
  • Large Molecules

Atopic Dermatitis Clinical Trials Study Design Outlook (Revenue, USD Million; 2018 - 2030)

  • Interventional
  • Observational

Atopic Dermatitis Clinical Trials Phase Outlook (Revenue, USD Million; 2018 - 2030)

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

Atopic Dermatitis Clinical Trials Region Outlook (Revenue, USD Million; 2018 - 2030)

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

List of Key Players in the Atopic Dermatitis Clinical Trials Market

  • Charles River Laboratories
  • Imavita    
  • REPROCELL Inc.
  • Oncodesign services
  • BIOCYTOGEN
  • QIMA LTD
  • Novotech
  • Redoxis
  • Syneos Health
  • Hooke Laboratories, 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.

Wednesday, 27 March 2024

Endoscopes Market is Anticipated To Expand at a CAGR of 8.9% over the forecast period: Grand View Research Inc.

 

Endoscopes Market Growth & Trends

The global endoscopes market size is expected to reach USD 37.1 billion by 2030, registering a CAGR of 8.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing awareness levelsabout minimally invasive surgical procedures and the increasing prevalence of chronic disorders are the major factors accelerating the market growth. The benefits, such as less surgery-related blood loss, no muscle cutting, and quicker recovery, offered by minimally invasive surgeries boost the adoption of endoscopic procedures over traditional/open invasive surgeries. In addition, advancement in endoscopic technology and rapid increase of its application to diagnose and treat various diseases are other key factors anticipated to propel the market growth over the forecast years. The flexible endoscopes product segment dominated the market in 2023.

This is attributed to the high demand for these devices considering their unique features, such as the ability to reach viscera and cavities, better safety and efficiency, and improved ergonomic features. These devices are most commonly used in several endoscopic procedures, such as esophagogastroduodenoscopy (EGD), bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, nasopharyngoscopy, rhinoscopy, and colonoscopy procedures, which supports the product demand and segment growth.

In 2023, the outpatient facilities end-use segment dominated the market. Increasing adoption of endoscopes across outpatient facilities such as ambulatory surgery centers and diagnostic clinics for the early diagnosis and detection of several life-threatening diseases is supporting the segment growth. In addition, the introduction of keyhole endoscopic surgeries with minimal discomfort and faster recovery time also boosts the segment growth. In addition, North America held the largest revenue share in 2023 owing to its better healthcare infrastructure, high preference for minimally invasive surgical procedures among individuals, and quick adoption of advanced technologies. The increasing burden of functional gastrointestinal disorders and cancer is anticipated to further propel market growth in this region. For instance, as per the data reported by the National Cancer Institute, in 2020, over 1.8 million new cancer cases were estimated to be diagnosed in the U.S.

Several industry consolidation activities, such as mergers & acquisitions, and partnerships have resulted in a strong market share of the global market. Manufacturers in the market are also focusing on launching new endoscopes with advanced features as per patients’ requirements, to enhance their market share and consumer base. For instance, in January 2021, Karl Storz SE & Co. KG announced the launch of Image 1 S Rubina, which combines multimode fluorescence imaging with 4K resolution for endoscopy procedures. The toggling between white light and fluorescence modes allows surgeons to set it per surgical needs.

Request a free sample copy or view report summary: Endoscopes Market Report

Endoscopes Market Report Highlights

  • Based on product, the flexible endoscopes segment held the largest revenue share in 2023 owing to its unique features, such as the ability to reach viscera & cavities, better safety & efficiency, and improved ergonomic features
  • In terms of end-use, the outpatient facilities segment held the largest revenue share in 2023 due to widespread adoption of keyhole or minimal invasive surgeries across these facilities
  • North America dominated the market in 2023 owing to various factorsincluding the increasing burden of functional gastrointestinal disorders, improved healthcare infrastructure, and the growing preference for minimally invasive surgeries to curb healthcare spending.

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

Endoscopes Market Segmentation

Grand View Research has segmented the global endoscopes market based on product, end-use, and region:

Endoscopes Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Endoscopes
    • Rigid Endoscopes
      • Laparoscopes
      • Arthroscopes
      • Ureteroscopes
      • Cystoscopes
      • Gynecology Endoscopes
      • Neuroendoscopes
      • Bronchoscopes
      • Hysteroscopes
      • Laryngoscopes
      • Sinuscopes
      • Otoscopes
      • Sigmoidoscopes
      • Pharyngoscopes
      • Duodenoscopes
      • Nasopharyngoscopes
      • Rhinoscopes
    • Flexible Endoscopes
      • Laparoscopes
      • Arthroscopes
      • Ureteroscopes
      • Cystoscopes
      • Gynecology Endoscopes
      • Neuroendoscopes
      • Bronchoscopes
      • Hysteroscopes
      • Laryngoscopes
      • Sinuscopes
      • Otoscopes
      • Sigmoidoscopes
      • Pharyngoscopes
      • Duodenoscopes
      • Nasopharyngoscopes
      • Rhinoscopes
      • Colonoscopes
    • Disposable Endoscopes
      • Laparoscopes
      • Arthroscopes
      • Ureteroscopes
      • Cystoscopes
      • Gynecology Endoscopes
      • Neuroendoscopes
      • Bronchoscopes
      • Hysteroscopes
      • Laryngoscopes
      • Sinuscopes
      • Otoscopes
      • Sigmoidoscopes
      • Pharyngoscopes
      • Duodenoscopes
      • Nasopharyngoscopes
      • Rhinoscopes
      • Colonoscopes
    • Capsule Endoscopes
    • Robot Assisted Endoscopes

Endoscopes End-use Outlook (Revenue, USD Million, 2018 – 2030)

  • Hospitals
  • Outpatient Facilities

Endoscopes Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List Of Key Players Endoscopes Market

  • Olympus Corporation (Olympus)
  • PENTAX Medical
  • Ethicon (Johnson & Johnson, Inc.)
  • FUJIFILM Holdings Corporation
  • Stryker
  • Boston Scientific Corporation
  • CONMED Corporation
  • Karl Storz GmbH & Co., KG
  • Richard Wolf GmbH
  • Medtronic

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.

STD Diagnostics Market is Growing at Significant Rate, 2030: Grand View Research Inc.

 STD Diagnostics Market Growth & Trends

The global STD diagnostics market size is expected to reach USD 16.36 billion by 2030, expanding at a CAGR of 7.18% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing disease burden of Sexually Transmitted Disease (STD) and efforts by government & non-profit organizations to increase awareness and encourage regular screenings among the younger population are the key factors augmenting the market growth. According to WHO data, around 374 million new cases of syphilis, gonorrhea, chlamydia, and trichomoniasis are recorded every year globally.

Development and commercialization of advanced products, such as next-generation HIV testing kits and multiplex PCR products, enable physicians to timely diagnose & distinguish a range of STIs and provide appropriate treatment. Seegene, Inc., a South Korea-based diagnostic company, provides a wide portfolio of Allplex, Anyplex, and Seeplex products that detect various causative agents. For instance, Allplex STI/BV Panel Assay can distinguish 28 causative agents in a single test. In April 2022, Seegene, Inc. announced the development of Allplex HPV HR Detection.

Allplex HPV HR Detection is the world’s first commercialized ‘3 Ct’ PCR assay. Seegene is focusing to apply this technology to its entire product chain, including STI, Urinary Tract Infection (UTI), and Respiratory Virus (RV) assays. This strategic technological advancement is expected to provide an additional advantage to the company that can help increase its share in the Sexually Transmitted Disease (STD) diagnostics industry.

The HIV National Strategic Plan is a roadmap for eliminating the human immunodeficiency virus pandemic in the U.S. by 2030. The HIV Plan, which will run from 2021 to 2025, is the country's third five-year national HIV plan in a row, with a 10-year goal of halving new human immunodeficiency virus infections by 90% by 2030. Furthermore, the Viral Hepatitis National Strategic Plan focuses on hepatitis B and C, which are sexually transmitted. In January 2021, the US Department of Health and Human Services (HHS) released a nationwide strategy to address the preventable, substantial public health threats posed by viral hepatitis in the United States. The government's beneficial actions create a favorable atmosphere for the expansion of the STD diagnostics industry.

Companies are engaging in strategic initiatives that aid in the development of new products, and regulatory approvals as well as enhance their STD diagnostics product portfolio. For instance, in August 2020, DiaSorin, Inc. received 510 (k) approval from U.S. FDA for introducing LIAISON XL MUREX anti-HBe. It is used for the diagnosis of HBV infection. This immunoassay product works on the principle of chemiluminescence.

Request a free sample copy or view report summary: STD Diagnostics Market Report

STD Diagnostics Market Report Highlights

  • In 2023, the consumables segment accounted for the largest market share and is anticipated to maintain its position over the forecast period owing to high testing rates for the diagnosis of STDs and the commercialization of several assays
  • Based on technology, the molecular diagnostics segment is estimated to grow at the fastest CAGR during the forecast period owing to the increasing use of high-throughput PCR technology and the recommendation of NAAT tests for HIV testing. The development of multiplex PCR tests for the simultaneous detection of multiple pathogens is also expected to contribute to the STD diagnostics industry's growth
  • Based on application, the HIV testing segment is expected to dominate the STD diagnostics industry in 2023, due to factors such as the high incidence rate of the disease, increasing product approvals for molecular tests, and favorable government initiatives
  • Asia Pacific region is anticipated to experience the fastest growth over the forecast period due to an increase in testing rates for STDS, a rise in disposable income, and high disease prevalence of STD in developing countries

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

STD Diagnostics Market Segmentation

Grand View Research has segmented the global STD diagnostics market based on product, application, technology, location of testing, and region:

STD Diagnostics Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Instruments and Services
  • Consumables
  • Software

STD Diagnostics Application Outlook (Revenue, USD Million, 2018 - 2030)

  • CT/NG testing
  • Syphilis testing
    • PCR testing
    • Non-PCR testing
  • Gonorrhea testing
  • HSV testing
    • PCR testing
    • Non-PCR testing
  • HPV testing
  • HIV testing
  • Ureaplasma & Mycoplasma testing
  • Trichomonas
  • VZV testing
    • PCR testing
    • Non-PCR testing
  • Others

STD Diagnostics Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Immunoassay
  • Molecular Diagnostics
  • Other

STD Diagnostics Location of Testing Outlook (Revenue, USD Million, 2018 - 2030)

  • Laboratory Testing
    • Commercial/Private labs
    • Public Health Labs
  • Point of Care Testing

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

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

List of Key Players in the STD Diagnostics Market

  • BD
  • Hoffmann-La Roche Ltd
  • Hologic Inc.
  • Abbott
  • Cepheid (Danaher)
  • Qiagen
  • OraSure Technologies, Inc.
  • Bio-Rad Laboratories, Inc.
  • bioMĂ©rieux SA
  • Thermo Fisher Scientific, Inc.
  • Seegene Inc.
  • DiaSorin S.p.A

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.

Smoothies Market is Anticipated To Generate Significant Revenues by 2030: Grand View Research Inc.

 Smoothies Market Growth & Trends

The global smoothies market size is expected to reach USD 23.08 billion by 2030, growing at a CAGR of 9.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global rise in smoothie consumption is driven by a synergy of health and convenience trends. As consumers increasingly prioritize healthier lifestyles, smoothies represent a convenient and nutritious option, offering a blend of fruits, vegetables, and often protein-rich additives. The growing awareness of the importance of a balanced diet and the desire for on-the-go nutrition is expected to drive the popularity of smoothies as a quick and easy way to meet nutritional goals.

The market for smoothies has experienced significant growth in recent years, driven by increasing consumer awareness of health and wellness. As people became more conscious of their dietary choices, the demand for nutritious and convenient food and beverage options has risen. Smoothies, with their blend of fruits, vegetables, and often added supplements, cater to this demand by offering a quick and tasty way to consume essential nutrients. The penetration of smoothies into mainstream consumer preferences is evident, as they are now commonly found in cafes, juice bars, and even as pre-packaged products in grocery stores.

Manufacturers are responding to these evolving preferences by launching products that align with various health goals. For instance, in October 2022, Blender Bites, a frozen food brand, emphasized immunity support through the launch of a new product. Known for producing premium, organic, and plant-based pre-portioned frozen functional foods, especially for smoothies, the brand introduced Daily Defen-C, an innovative smoothie designed to boost immunity through high levels of vitamin A, a natural supporter of immune system function. The smoothie is also rich in vitamins C and E and includes a blend of 15 organic vitamins and minerals. To align with current health trends, Daily Defen-C incorporates popular ingredients like ginger, turmeric, and probiotics, providing a comprehensive and health-conscious option for consumers.

The market players are also targeting consumers who prioritize health-conscious and nutrient-rich options for their babies and toddlers. For instance, in January 2023, Serenity Kids, a prominent shelf-stable baby and toddler food brand, unveiled four new Dairy-Free Smoothie + Protein pouch varieties. These groundbreaking baby food products were the first in the market to incorporate protein from grass-fed collagen. The innovative flavors are Berry Butternut, Sweet Potato Spice, Pumpkin Spice, and Carrot& Beet, each offering high-quality and nutrient-rich options for babies and toddlers.

Request a free sample copy or view report summary: Smoothies Market Report

Smoothies Market Report Highlights

  • Based on product, the fruit-based smoothie segment dominated with a revenue share of 51.6% in 2023. Fruits are widely recognized for their nutritional content, including essential vitamins, minerals, and antioxidants. This has led consumers to often associate fruit-based smoothies with health and wellness.
  • The sales of smoothies through smoothie bars accounted for a 44.0% of the revenue share in 2023. Smoothie bars offer consumers the option to customize their drinks by choosing specific fruits, vegetables, bases, and add-ins.
  • North America dominated the market with a revenue share of 45.5% in 2023. The increasing popularity of healthy beverages in North America is significantly contributing to the growth regional market.

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

Smoothies Market Segmentation

Grand View Research has segmented the global smoothies market based on product, distribution channel, and region:

Smoothies Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Fruit-based
  • Dairy-based
  • Others

Smoothies Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Restaurants
  • Smoothie Bars
  • Supermarkets & Convenience Stores
  • Others

Smoothies Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the Smoothies Market

  • Barfresh Food Group, Inc.
  • Bolthouse Farms
  • Ella’s Kitchen Ltd
  • innocent ltd
  • Jamba Juice LLC
  • Maui Wowi Hawaiian Coffees & Smoothies
  • Smoothie King
  • Suja Juice
  • Tropical Smoothie CafĂ©
  • The Smoothie Company

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. Luxury Travel Market Will Be Worth $634.27 Billion by 2030: Grand View Research Inc.

 U.S. Luxury Travel Market Growth & Trends

The U.S. luxury travel market is anticipated to reach USD 634.27 billion by 2030 and it is projected to grow at a CAGR of 8.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. There is a growing and robust demand for customized luxury travel experiences. According to a survey conducted by Virtuoso in 2022, 68% of luxury travel advisors noted that their clients are going to great lengths to prioritize privacy, opting for extended vacations and allocating more resources. This includes arrangements such as booking private jets, islands, and villas, as well as engaging guides with specialized knowledge aligned with their specific interests.

An increasing number of travelers in U.S. are opting for tours of their preferred destinations due to the desire to learn more about the place that they are visiting. Luxury travelers often prefer customized and private tours to general tour packages for unique and highly personal experiences. The post-pandemic trends of private tours due to concerns for health and safety are driving the market growth.

Travelers are drawn to the diverse traditions and cultures of other countries. They are keen to explore the diverse performing arts, handicrafts, ceremonies, and cuisines. Such experiences inspire cultural interaction, encouraging conversation, understanding, and promoting harmony. Luxury travelers in the U.S. exhibit a trend of meticulous vacation planning, often arranging accommodations and dining experiences well in advance. The Travel Trends 2023 study found that 51% of U.S. travelers are now booking their vacations far in advance, a marked departure from previous years.

More than a third of this demographic cited fear of price inflation as a primary motivator for securing travel plans early. This shift suggests that consumers are becoming increasingly cautious as costs rise and are taking proactive steps to ensure an affordable travel experience.

Key players offer a range of curated experiences, from VIP events to adventurous excursions, enhancing a brand's appeal and distinguish it within the competitive market. For instance, in December 2022, Kensington Tours Ltd introduced a collection of insider-style VIP experiences designed around high-profile events. This included the opportunity to attend a Hollywood VIP after-event called 'The Party' and experience the world's biggest auto race in Las Vegas from the pit lane of the team paddock.

Request a free sample copy or view report summary: U.S. Luxury Travel Market Report

U.S. Luxury Travel Market Report Highlights

  • Based on tour, the culinary travel & shopping segment is expected to witness substantial CAGR during the forecast period. Travelers typically engage in activities like taking cooking classes, retracing historical culinary journeys, embarking on wine, beer, and spirits trails, participating in food fairs and festivals, and visiting food production facilities and processing centers for exploratory purposes
  • Based on age group, the millennial segment is expected to witness substantial CAGR during the forecast period from 2024 to 2030. Millennials prioritize experiences over material possessions, valuing the memories and personal growth that luxury travelcan provide. Millennials are, hence, shifting their focus from traditional offerings to a wider range of compelling traveling experiences
  • Based on booking mode, the online travel agencies segment is expected to witness substantial CAGR during the forecast period from 2024 to 2030. Online platforms provide a comprehensive array of stay options for vacation rentals. These platforms serve as a hub for listing a diverse range of accommodations catering to different traveler preferences

Access Press Release@ https://www.grandviewresearch.com/press-release/us-luxury-travel-market-analysis

U.S. Luxury Travel Market Segmentation

Grand View Research has segmented the U.S. luxury travel market based on tour, age group, and booking mode:

U.S Luxury Travel Tour Outlook (Revenue, USD Billion, 2018 - 2030)

  • Customized & Private Vacations
  • Safari & Adventure
  • Cruises, Yachting and Small Ship Expeditions
  • Celebration Journeys
  • Culinary Travel & Shopping
  • Others

U.S Luxury Travel Age Group Outlook (Revenue, USD Billion, 2018 - 2030)

  • Millennial
  • Generation X
  • Baby Boomers
  • Silver Hair

U.S Luxury Travel Booking Mode Outlook (Revenue, USD Billion, 2018 - 2030)

  • Direct Booking
  • Online Travel Agencies (OTAs)
  • Concierge Services

List of Key Players in the U.S. Luxury Travel Market

  • Abercrombie & Kent USA, LLC
  • Lindblad Expeditions
  • Scott Dunn Ltd.
  • Brownell Travel
  • All Roads North
  • Kensington Tours Ltd.
  • Tully Luxury Travel
  • Black Tomato
  • Pique Travel Design
  • The Luxury Travel Agency

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.

Tuesday, 26 March 2024

Point of Use Water Treatment Systems Market to Penetrate Untapped Regions During 2024 to 2030: Grand View Research Inc.

 Point of Use Water Treatment Systems Market Growth & Trends

The global point of use water treatment systems market size is anticipated to reach USD 53.56 billion by 2030 and it is projected to grow at a CAGR of 9.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing scarcity of fresh water reservoirs and safe drinking water across the world owing to the increasing industrial activities and growing population is anticipated to fuel the growth of the market over the forecast period.

The escalating demand for point-of-use water treatment systems is a reflection of a broader societal shift towards prioritizing water quality in both residential and non-residential domains. The residential sector embraces point-of-use water treatment systems for their convenience and affordability, providing a personalized approach to enhancing drinking water quality. Simultaneously, the non-residential sector leverages the adaptability and scalability of point-of-use water treatment systems to address diverse water treatment needs, ensuring compliance with regulations and cost-effective solutions. This growing reliance on point-of-use water treatment systems underscores a collective recognition of the importance of localized and tailored approaches to secure clean and safe water in both personal and professional spheres.

Population growth, rapid urbanization, technological advancements, and infrastructure expansion have all increased global demand for fresh and processed water. The human population has grown more than double in the last 50 years, resulting in a high consumption of water. The lack of freshwater sources has resulted in water scarcity. The reduced water resources & increased water pollution are also aiding the demand for point of use water treatment systems.

Request a free sample copy or view report summary: Point of Use Water Treatment Systems Market Report

Point of Use Water Treatment Systems Market Report Highlights

  • Based on technology, reverse osmosis systems segment dominated the technology segment with more than 32.1% share in 2023 owing to attractive features and pollutant removal capabilities
  • Based on technology, the filtration segment is expected to grow at the fastest CAGR over the forecast period
  • Based on device, the tabletop pitchers device segment held the largest market share of 34.6% in 2023
  • Based on the device, the under-the-sink filters device segment is anticipated to witness the fastest CAGR during the forecast period
  • Increasing health awareness and consciousness regarding water-borne illnesses and diseases across the globe is a prominent driving factor of the market growth
  • Asia pacific dominated the point of use water treatment market owing to factors such as increasing disposable income, rising pollution, surge in health awareness, and lack of safe water
  • In January 2023, Aquaporin, a water technology company, partnered with Koninklijke Philips N.V. to deliver clean drinking water to customers in China. With the partnership, Aquaporin will be the membrane technology provider in most of Philips Water Solutions' range of water purifiers

Access Press Release@ https://www.grandviewresearch.com/press-release/global-point-of-use-water-treatment-systems-market

Point of Use Water Treatment Systems Market Segmentation

Grand View Research has segmented the global point of use water treatment systems market based on technology, device, application, and region:

Point of Use Water Treatment Systems Technology Outlook (Revenue, USD Billion, 2018 - 2030)

  • Reverse Osmosis Systems
  • Distillation Systems
  • Disinfection Methods
  • Filtration Methods

Point of Use Water Treatment Systems Device Outlook (Revenue, USD Billion, 2018 - 2030)

  • Tabletop Pitchers
  • Faucet-Mounted Filters
  • Counter-top Units
  • Under-the-sink Filters

Point of Use Water Treatment Systems Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Residential
  • Commercial
    • Offices
    • Hotels
    • Restaurants
    • CafĂ©
    • Hospitals
    • Schools
    • Other
  • Industrial

Point of Use Water Treatment Systems Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in the Point of Use Water Treatment Systems Market

  • 3M
  • Koninklijke Philips N.V.
  • Pentair
  • Panasonic Holdings Corporation
  • Unilever
  • LG Electronics
  • EcoWater Systems LLC
  • O. Smith
  • Culligan
  • Amway 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.

U.S. Residential Remodeling Market Advanced Technologies and Growth Opportunities Worldwide By 2030

 U.S. Residential Remodeling Market Growth & Trends

The U.S. residential remodeling market size is anticipated to reach USD 716.18 billion by 2030, registering a CAGR of 4.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing demand for products such as ceilings, outdoor decks, flooring, bathrooms, and kitchens that are aesthetically pleasing, cost-effective, and eco-friendly has increased in home renovation projects. Increasing disposable income of homeowners has also contributed to this trend in recent years and is expected to contribute to market growth in the coming years.

Manufacturers of remodeling products have incorporated their presence throughout the value chain to disassemble existing structures and install new products. These companies offer services that are based on analysis of an existing structure and search for a solution that will rebuild the structure according to the customer’s needs. For example, companies such as Jenks Restorations consider the damage to a building as a result of natural disasters, fire, or water and adapt repairs and rebuild work accordingly.

The threat of substitutes is low to medium in the U.S. residential market as most players have different ranges of specialized offerings. The nature of the industry forces consumers to choose from local players, which are considerably limited due to the high cost of establishing of network.

Cement, lumber, plastic, aluminum, copper, and steel are just a few of the raw materials used in the home remodeling industry. According to various studies, the prices of raw materials do not show a constant upward or downward trend, making it difficult for manufacturers and buyers to make long-term decisions regarding raw material procurement and product selection. Products such as steel and lumber have seen an increase in prices due to disruption in supply chain and transportation, leading to shortages. Socioeconomic problems such as the Russia-Ukraine war have also affected the availability and movement of raw materials.

Rising prices of housing and property have led to increased renovation works on existing houses as the spending levels of the population has grown in recent years. This has given a boost to the residential remodeling market. Shifting focus toward aesthetically pleasing interiors and exteriors of the house has led to remodeling projects in various households. The interest in incorporating smart equipment in homes has also helped in increasing the need for remodeling houses.

Request a free sample copy or view report summary: U.S. Residential Remodeling Market Report

U.S. Residential Remodeling Market Report Highlights

  • The residential remodeling market has experienced a surge in recent years as the energy efficiency of residential buildings has increased, resulting in lower energy bills. The increasing real estate rates have also caused consumers to remodel their homes instead of purchasing new ones. In addition, the growing emphasis on interior and exterior design has also contributed to the growth of the residential remodeling industry
  • The specialized service provider segment dominated the market with a revenue share of 81.8% in 2023. Specialized service providers specialize in one or more of the following services, such as concrete and masonry, electrical & insulation, mechanical systems, plumbing systems, roofing, and siding. Specialized service providers ensure that high-quality and durable materials are used while remodeling any part of the building
  • The remodeling of residential systems and equipment accounted for the largest market share of 26.5% in 2023. This growth is attributed to the growing number of people using consumer electronics in their homes in the U.S. This has resulted in the need for modernized systems in the United States that help to level out electrical connections in homes
  • California residential remodeling segment accounted for a revenue share of 13.8% of the overall market in 2023. The market in California is expected to grow as it is among the largest states in the U.S. economy, in terms of GDP, construction activities, and per capita income of the population. Moreover, the increase in disposable income primarily drives the demand for residential remodeling in the U.S.
  • Most of the market players focus on forward integration by offering maintenance services in addition to manufacturing services. They also focus on offering customization services through online portals and in-house staff as well as utilizing both online and offline distribution channels to interact with their customers
  • In November 2023, a Groundworks Company acquired Texas-based Eco-Soil Stabilizers, which offers residential customers and homebuilders a proprietary soil stabilization injection technology. Thus, A Groundworks Company aims to leverage this technology to enhance foundation repairs of residential buildings across the U.S.

Access Press Release@ https://www.grandviewresearch.com/press-release/us-residential-remodeling-market-analysis

U.S. Residential Remodeling Market Segmentation

Grand View Research has segmented the U.S. residential remodeling market based on service type, application, and country:

U.S. Residential Remodeling Service Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Full-remodeling Service Providers
  • Specialized Service Providers

U.S. Residential Remodeling Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Flooring
  • Walls
  • Ceilings
  • Porch, Garden and Garage
  • System & Equipment
  • Disaster Repair
  • Others

U.S. Residential Remodeling Country Outlook (Revenue, USD Billion, 2018 - 2030)

  • US.
    • California
    • Texas
    • Georgia
    • Florida
    • Ohio
    • Illinois
    • Michigan
    • New York
    • North Carolina
    • Pennsylvania

List of Key Players in the U.S. Residential Remodeling Market

  • BELFOR
  • Window World, Inc.
  • GREAT DAY IMPROVEMENTS, LLC
  • A Groundworks Company
  • Renuity
  • Renovo Home Partners
  • ReBath, LLC
  • Erie Home
  • Window Nation
  • DaBella
  • ATI Restoration, LLC
  • NewSouth Window Solutions
  • Window World of Baton Rouge
  • Window Depot USA
  • Thompson Creek

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.

Brazil Premium Bottled Water Market Latest Trends, Industry Growth And Forecast To 2033: Grand View Research Inc.

  Brazil Premium Bottled Water Market Summary The  Brazil premium bottled water market  size was estimated at USD 1.69 billion in 2024 and i...