Atherectomy Devices Market Valuation to Reach $1648.2 Million by the end of 2030: Grand View Research Inc.

Atherectomy Devices Market Growth & Trends

The global atherectomy devices market size is expected to reach USD 1,648.2 million by 2030, expanding at a CAGR of 8.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The demand for atherectomy devices market is anticipated to boost over the forecast period due to rapidly rising incidence of target diseases such as peripheral artery disease. Favorable patient outcomes with minimally invasive procedures is also driving demand of atherectomy devices for peripheral vascular interventions.

New technologies and product approvals are expected to boost the market for orbital and laser atherectomy devices over the forecast period. For instance, in July 2018, Cardiovascular Systems, Inc. (CSI) signed an agreement with Aerolase Corp. to co-develop a new laser atherectomy device. The agreement gave CSI an opportunity to leverage Aerolase’s FDA cleared proprietary laser technology. The new laser atherectomy system will be used for treating multiple forms of peripheral arterial diseases

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Atherectomy Devices Market Report Highlights

• In 2022, the directional atherectomy segment held the largest market share owing to their capability of collecting the shaved plaque in a collecting space, which reduces the risk of barotrauma, dissection, and neointimal hyperplasia.
• Laser atherectomy devices is expected to the fastest growing segment over the next 8 years. Laser technique is perceived as to have more precision in plaque removal and cause fewer complications. It is also believed to result in lesser incidence of restenosis.
• Geographically, North America held the largest market share in 2022 and is expected to maintain its position during the forecast period. A high prevalence of Peripheral Artery Diseases (PAD) in this region is one of the key reasons for high demand of atherectomy. Almost 8.5 million people suffer from PAD in the U.S., resulting in an annual economic burden of nearly USD 160 million.
• Asia Pacific is anticipated to observe the fastest growth over the coming years. Improving economic conditions leading to increasing prevalence of lifestyle diseases, especially cardiovascular and peripheral, is the key reason for this growth.

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Atherectomy Devices Market Segmentation

Grand View Research has segmented the global atherectomy devices market based on type, and region:

Atherectomy Devices Type Outlook (Revenue, USD Million; 2018 - 2030)

• Directional Atherectomy
• Rotational Atherectomy
• Orbital Atherectomy
• Laser Atherectomy

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

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

List of Key Players in Atherectomy Devices Market

• Boston Scientific Corporation
• Cardiovascular Systems, Inc.
• Medtronic
• Avinger
• Koninklijke Philips N.V.
• BD
• Abbott
• Cordis
• Terumo Medical Corporation

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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.

Luxury Travel Market Factors Hindering The Growth Rate, Challenges and Restraints For Business Development 2030

Luxury Travel Market Growth & Trends

The global luxury travel market size is expected to reach USD 2.33 trillion by 2030, growing at a CAGR of 7.9% during the forecast period, according to a new report by Grand View Research, Inc. The growing desire to escape the stress, hustle-bustle, and routine of everyday life has driven the attraction for luxury travel. The increasing life expectancy and improved health conditions even in old age are encouraging more and more consumers to enjoy an active and adrenaline-driven lifestyle.

Micro trips, the new trend in the industry, is expected to boost the growth of this market during the forecast period. Tourists are visiting more travel places in shorter time periods. To stay and spend quality time and create memories during short time frames in a unique and remarkable type of accommodation is expected to become trendy in the forthcoming years.

The demand for luxury travel focused on wellness continues to surge, with travelers actively seeking experiences, itineraries, and products tailored to health, fitness, nutrition, appearance, sleep, and mindfulness. According to a 2021 American Express survey, 76% of respondents expressed a desire to allocate more of their travel budget toward improving their overall well-being, while 55% indicated a willingness to invest extra in wellness activities for future vacations. Although many spas and health retreats faced closures during the pandemic, the Global Wellness Institute anticipates a robust recovery, projecting an annual growth rate of 17% and an estimated market value of USD 150 billion by 2025.

In terms of luxury cultural tourism, festivals have become a major focus, and notions of authenticity have become spots of attraction in the festivals. Tourists seek an authentic experience of festival and their associated cultural rituals performed by local people and their traditional practices. For instance, in August 2022, the Indian government announced new waterways between Mathura, Vrindavan, and Agra to promote religious tourism. Under this project, the cruises to Gokul, Vrindavan, and Mathura will be connected by waterways on the Yamuna River at affordable rates. Vrindavan and Mathura has a rich cultural heritage of fairs and festivals, to name a few: Holi, Charkula dance, Raasleela, Latthmar Holikotsav, Yamuna Janmotsav, Janmashtami Mela, and many more.

Social connectivity is another emerging trend among luxury travelers to connect and experience different societies and cultures. For example, G Adventures (formerly known as Gap Adventures) is a social enterprise and small-group adventure travel company that brings travelers closer to society and its culture. G Adventures is capitalizing on the social connectivity trend by providing an opportunity for local communities to connect and socialize with travelers seeking cultural exploration.

Companies in the market are focusing on strategies such as mergers and acquisitions in order to gain market share and increase their service footprint. In June 2021, Inspirato LLC, the innovative luxury travel subscription brand, and Thayer Ventures Acquisition Corp., a publicly traded special purpose acquisition company, announced that they have entered into a definitive merger agreement that will result in Inspirato becoming a publicly listed company. This merger enabled the company to increase and broaden its service capabilities and bolster its package offerings.

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Luxury Travel Market Report Highlights

• Based on tour, the culinary travel & shopping segment is anticipated to grow at the fastest CAGR over the forecast period. Culinary travel, often referred to as food tourism packages, encompass travel offerings that revolve around food and beverages. These packages are tailored to include destinations, sites, attractions, or events with a focus on the culinary aspect.
• The 21 to 30 years age group segment is expected to witness substantial growth in its CAGR from 2024 to 2030. Millennials prioritize experiences over material possessions, valuing the memories and personal growth that luxury travel can provide. Millennials are hence shifting their focus from traditional pampering to a wider range of compelling traveling experiences.
• Europe dominated the global market in 2023. The growth of this region is majorly attributed to the rising travel connectivity. Rapid penetration of high-speed internet has made even the most remote places in European countries like Germany, accessible to travelers. This is driving the need to explore new, exotic, and exciting locations across the region, thereby strengthening the luxury travel market.

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Luxury Travel Market Segmentation

Grand View Research has segmented the global luxury travel market based on tour, age-group, and region:

Luxury Travel Tour Outlook (Revenue, USD Million, 2018 - 2030)

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

Luxury Travel Age Group Outlook (Revenue, USD Million, 2018 - 2030)

• 21-30 Years
• 31-40 Years
• 41-60 Years
• 60 And Above

Luxury Travel Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Austria
  • Belgium
  • Czech Republic
  • Denmark
  • Hungary
  • Netherlands
  • Norway
  • Portugal
  • Sweden
  • Switzerland
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Uzbekistan
  • Malaysia
  • Singapore
  • Thailand
  • Vietnam
  • New Zealand
• Central & South America
  • Brazil
  • Peru
  • Chile
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey

List of Key Players in Luxury Travel Market

• TUI Group
• Butterfield & Robinson Inc.
• Cox & Kings Ltd.
• Scott Dunn Ltd.
• Abercrombie & Kent USA, LLC
• Lindblad Expeditions
• Geographic Expeditions, Inc.
• Micato Safaris
• Exodus Travels Limited
• Travel Edge (Canada) Inc.

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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.

Australia Industrial Barrier Systems Market is Projected to Boost $108.8 Million by 2030: Grand View Research Inc.

 Australia Industrial Barrier Systems Market Growth & Trends 

The Australia industrial barrier systems market size is estimated to reach USD 108.8 million by 2030, growing at a CAGR of 7.9% from 2023 to 2030,according to the recent reports of Grand View Research, Inc.The market is poised for noticeable growth as the Australian government is drafting rigorous safety requirements for various industries and industry verticals, thereby pushing enterprises to invest in industrial barriers to meet safety standards and avoid any penalties. Incumbents of the mining & resources industry in Australia can be considered among the major consumers of industrial barrier systems as they have to put a strong emphasis on protecting their workers, machinery, assets, and infrastructure, thereby driving the demand for safety barriers. With an increased focus on workplace safety and worker protection, enterprises in Australia are investing aggressively in industrial barrier systems to ensure safer working environments.    

In Australia, cities, such as Melbourne, Sydney, Brisbane, and Perth, are evolving into major industrial and economic hubs; and are hence attracting both people seeking better opportunities and businesses and incumbents of various industries and industry verticals, thereby driving urbanization and industrialization, and subsequently, the need for industrial barrier systems. The pursuit of smart industry initiatives and the subsequent integration of IoT technology in industrial barrier systems are poised to open new opportunities for the growth of the Australia industrial barrier systems industry. Smart industrial barrier systems or industrial barrier systems with IoT capabilities can communicate with other connected equipment to facilitate centralized management and surveillance, and remote access.

Industrial barrier systems are evolving continuously in line with the advances in the latest, emerging technologies. However, the adoption of industrial barrier systems depends on the ability of the end-user enterprises to predict potential threats and opt for the relevant industrial barrier systems accordingly. The Australian industrial barrier systems market is highly fragmented, with multiple vendors offering diverse solutions, which is particularly making it difficult for end users to stay updated with the latest solutions available in the market. Similarly, some end-user enterprises are not aware of the new products based on the latest technologies launched in the market. Such factors typically restrain the adoption of industrial barrier systems.

However, continued industrial advancements are driving the need to incorporate various safety measures to protect people, equipment, infrastructure, and other assets, thereby driving the demand for industrial barrier systems over the forecast period. Looking forward into the future, advances in Virtual Reality (VR) and Augmented Reality (AR) technologies would make it easier for employees to understand the safety standards in various industrial environments and learn to navigate the barriers accordingly.

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Australia Industrial Barrier Systems Market Report Highlights

• The guardrails segment is expected to register a CAGR of 10.0% from 2023 to 2030. The growth of the guardrails segment can be attributed to the unabated expansion of heavy industries, which has triggered the need to follow adequate safety precautions and ensure proper safety measures while new infrastructure is developed at various industrial sites.
• The safety fences segment dominated the market with the largest revenue share of 23.38% in 2022, attributed to its protection around dangerous places, machinery, or building sites to keep workers safe from potential hazards and reduce the possibility of injuries and collisions.
• The key market players includeA-Safe; Arbon Equipment Corporation; Proactive Group Australia; and Verge Safety Barriers. Companies utilize a variety of inorganic growth tactics, such as partnerships mergers, and acquisitions to broaden their product offering.

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Australia Industrial Barrier Systems Market Segmentation

Grand View Research has segmented the Australia industrial barrier systems market based on type:

Australia Industrial Barrier Systems Type Outlook (Revenue, USD Million, 2018 - 2030)

• Bollards
• Safety Fences
• Safety Gates
• Guardrails
• Barriers for Machinery
• Others

List of key players in the Australia industrial barrier systems market

• A-Safe
• Area Safe
• Barrier Group
• Safe Direction
• WPS
• Premier Workplace Solutions
• Sitecraft
• Verge Safety Barriers
• Arbon Equipment Corporation
• Safetech
• e-Safety Supplies
• Australian Bollards
• Proactive Group Australia
• Safetysure

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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.

Carbon Credit Market Latest Innovations, Drivers and Industry Key Events 2024 – 2030: Grand View Research Inc.

 Carbon Credit Market Growth & Trends

The global carbon credit market size is expected to reach USD 4,734.35 billion by 2030, registering a CAGR of 39.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 38.7% during the forecast period. The demand for carbon credits has been rising substantially in recent years due to various factors, such as several governments introducing policies and regulations that are aimed at reducing greenhouse gas emissions.

The significant demand for carbon credits has been helped by companies increasingly recognizing the importance of sustainability and of reducing their carbon footprint as part of their corporate social responsibility initiatives. This has led to carbon credits becoming a vital aspect for organizations to offset their emissions. In addition, growing concerns about climate change and its potential impacts have also created strong traction in the carbon credits space.

Governments around the world are implementing policies and regulations to reduce greenhouse gas emissions and combat climate change. Many of these regulations require companies to offset their emissions by purchasing carbon credits. These factors are expected to drive the compliance carbon credit market globally.

Compliance was the dominant segment in the global market for carbon credits in 2022 with a revenue share of 98.91%. The compliance carbon credit market is where companies and organizations that are regulated by a government or a specific authority are required to offset their carbon emissions by purchasing carbon credits. These credits represent a reduction in greenhouse gas emissions from an approved project, such as renewable energy or energy efficiency initiatives.

The COVID-19 pandemic has been a major restraint to the advancement of the carbon credit market, owing to several factors including reducing operational costs by end-users, along with extensive disruption in the availability of spare parts across the globe due to sluggish manufacturing activities and logistics issues.

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Carbon Credit Market Report Highlights

• In 2023, compliance emerged as the largest type segment and accounted for 98.80% of the revenue share. Several advantages due to regulated policies generated by governments are supporting the market growth
• In 2023, the avoidance/reduction projects segment accounted for the largest share of 66.45% in the global market for carbon credits. The growing number of renewable energy projects requiring carbon offset is expected to augment market growth over the forecast period
• The U.S. emerged as the largest carbon credit market in North America in 2023. The carbon credit market is primarily driven by a combination of state-level programs and voluntary markets in the country
• In Europe, the UK emerged as the largest country in terms of revenue generation for the carbon credit market, with a share of 38.39% in 2023. Supportive government policies and frameworks toward the positive scaling of emission trading schemes are fostering regional growth
• In 2023, the power segment in the end-use category dominated the global market for carbon credits with a share of 31.09%. Increasing investments in the power sector, along with the capture of carbon to enhance the trading platform, will further support segment growth over the forecast period

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Carbon Credit Market Segmentation

Grand View Research has segmented the global carbon credit market based on type, project type, end-use, and region:

Carbon Credit Type Outlook (Revenue, USD Million, 2018 - 2030)

• Compliance
• Voluntary

Carbon Credit Project Type Outlook (Revenue, USD Million, 2018 - 2030)

• Avoidance/Reduction Projects
• Removal/Sequestration Projects
  • Nature-based
  • Technology-based

Carbon Credit End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Power
• Energy
• Aviation
• Transportation
• Buildings
• Industrial
• Others

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

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

List Of Key Players Carbon Credit Market

• 3Degrees Group, Inc.
• Carbon Care Asia Ltd.
• CarbonBetter
• ClearSky Climate Solutions
• EKI Energy Services Ltd.
• Finite Carbon
• NativeEnergy
• South Pole Group
• Torrent Power Ltd.
• WGL Holdings Inc.

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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.

Basalt Fiber Market to Observe Strong Development by 2030: Grand View Research Inc.

 Basalt Fiber Market Size & Trends

The global basalt fiber market size was valued at USD 284.1 million in 2023 and is projected to grow at a CAGR of 11.2% from 2024 to 2030. The market is expected to grow at a significant rate, driven by increasing demand from automotive & transportation, building & construction, wind energy, and electrical & electronics industries. Basalt fibers have several properties that make them attractive to these industries, including exceptional thermal stability, heat and sound insulation, vibration resistance, and overall durability. It is also non-corrosive and recyclable. Growing demand for environmentally friendly and sustainable materials is another factor that is expected to drive the growth of the basalt fiber market.

Increasing emphasis on sustainability and environmental consciousness has led industries to seek alternative materials with lower carbon footprints. Basalt fiber, derived from natural volcanic rock, aligns well with these sustainability goals, making it an attractive choice for various applications such as construction, automotive, and aerospace. It is driving market growth in the U.S. However, despite these advantages, the market faces certain restraints. One challenge is the high initial investment required for setting up basalt fiber production facilities. In addition, a lack of awareness among end-users about the benefits of basalt fibers compared to traditional materials presents a barrier to market growth. As technological advancements continue to improve the production process and expand the range of applications, basalt fibers are poised to emerge as a preferred choice over competitors.

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Market Concentration & Characteristics

The market concentration is currently at a medium level and growing at an accelerating pace. Increasing demand for basalt fiber stems from its rising adoption in electrical & electronic applications, driven by a growing emphasis on renewable energy. Despite this growth, there is a relatively low level of merger & acquisition activities among major players due to high concentration within the market. However, there is a noticeable trend towards partnerships and collaborations among emerging companies, aimed at leveraging each other's strengths to achieve common objectives. This collaborative approach is to maintain market share in a highly competitive and expanding market landscape.

Regulatory standards governing basalt fiber production significantly impact the market growth, while its widespread usage in the electrical & electronics and automotive & transportation sectors, with no direct substitutes, mitigates the threat of substitution. End-user concentration within specific industries, such as electrical appliances, circuit boards, microwaves, and solar and alternative energy, remains high, indicating a persistent demand for basalt fiber in these sectors.

Key Basalt Fiber Company Insights

Some of the key players operating in the market include Kamenny Vek, and MAFIC.

• Kamenny Vek is a leading manufacturer of high-quality basalt fiber products based in Russia. With decades of experience in business, Kamenny Vek is renowned for its advanced production techniques and innovative solutions catering to various industries such as automotive, aerospace, construction, and marine
• MAFIC with operations in Europe and North America, is a renowned manufacturer of advanced basalt fiber solutions. It specializes in high-modulus basalt fiber for aerospace and automotive applications. It has a strong R&D team and is collaborating with leading industry players

Mudanjiang Jinshi Basalt Fiber and Sudaglass Fiber Technology are some of the emerging market participants.

• Mudanjiang Jinshi Basalt Fiber is a rising star that focuses on high-performance basalt fiber for composites and reinforcement applications. It boasts advanced production technology and is actively expanding its product portfolio
• Sudaglass Fiber Technology, a Ukrainian manufacturer offers basalt fiber products for construction, reinforcement, and thermal insulation. It has a cost-effective production process and is targeting emerging markets in Eastern Europe and Asia

Recent Developments

• In April 2022, Basaltex launched a fully recyclable surfboard in partnership with R*Concept, and Yuyo. The surfboard consists of circular epoxy, basalt fibers, and a PET core. These basalt fibers are used to develop high-performance fabrics for composites. These fabrics are unique owing to their combination of strength and impact resistance, as well as their ability to be 100% recycled by melting and drawing new fibers
• In June 2021, Basaltex achieved a significant milestone by developing and testing a new composite material solution for railway applications. The material comprises basalt fibers with EconCore's patented honeycomb technology

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Global Market for Business Jet to Reflect Steadfast Expansion During 2019-2025: Grand View Research Inc.

 The global business jet market size is expected to reach USD 29.32 billion by 2025, registering a CAGR of over 3% from 2019 to 2025, according to a new report by Grand View Research, Inc. The global business jet deliveries are expected to reach 919 units by 2025. A rising number of high net worth individuals, especially in the mature economies, has fueled the growth. Moreover, increased access to private aviation has resulted in a significant surge in the demand for charter services, thereby supporting the revenue generation.

Passenger safety is the top priority in the business aviation industry. Aircraft operators seek safety approvals via independent auditing systems. The companies operating in the marketplace focus on adopting advanced technologies for the utmost safety of the customers. They are incorporating various technological advancements, such as ground and satellite-based Wi-Fi, in-flight video conferencing, and charter booking systems. These advancements are expected to act as a driving force for the business jet market over the forecast period.

The OEMs are increasingly replacing mechanical flight control systems with lightweight digital flight systems. Reducing an aircraft’s weight increases its payload capacity, as well as the ability to fly greater distances with the same payload. The OEMs are also implementing new engine designs that focus on improving propulsion efficiency while reducing emission and noise levels. Such innovations by the business jet OEMs are expected to induce immense potential to the market size till 2025.

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Further key findings from the report suggest:

• Growing popularity of long-range aircraft, which offer optimum performance and comfort, is driving the market
• Companies in the business jet market are shifting their focus toward membership programs, including preferred charter accounts and member plans, which offer additional fleet options and reduced rates to the customers
• Middle East and Africa is witnessing a rising demand for large and medium jets owing to long distances between cities and difficult ground transportation, thereby is expected to emerge as the fastest growing region over the forecast period
• Large business jets are expected to exhibit approximately 5% CAGR from 2019 to 2025 owing to numerous benefits of these aircrafts, such as better comfort, range, and speed as compared to the counterparts

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Grand View Research has segmented the global business jet market on the basis of type, business model, and region:

Business Jet Type Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)

• Light
• Medium
• Large

Business Jet Business Model Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)

• On-demand Service
  • Air Taxis
  • Branded Charters
  • Jet-card Programs
• Ownership
  • Fractional Ownership
  • Full Ownership

Business Jet Regional Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)

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

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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.

Industrial Computed Tomography Market Latest Trends, Industry Growth And Forecast To 2030: Grand View Research Inc.

 

Industrial Computed Tomography Market Growth & Trends

The global industrial computed tomography market size is expected to reach USD 1,116.5 million by 2030, registering a CAGR of 7.4% during the forecast period, according to a new report by Grand View Research, Inc. Industrial computed tomography is a non-destructive testing method for examining components such as aluminum and plastics. It is a type of radiography testing used to detect flaws in components without contact. It is increasingly used across various industries, including electronics, automotive, and oil & gas, among others. The COVID-19 pandemic negatively affected the market due to lockdowns and government travel restrictions, reducing industrial production worldwide. Growing industrialization and the rising adoption of additive manufacturing techniques across industries are driving the growth of the market for industrial computed tomography. 

The benefits offered by industrial CT include improved product design and manufacturing cost reduction and reduced product failure instances. These benefits are expected to boost the adoption of industrial CT scanners in the industries. Industrial CT scanners offer high-quality inspection images detailing the product under inspection. This improves the inspection process across industries.

Based on offering, the market is divided into exploratory equipment and services. The wide availability of various software-enabled computed tomography scanners is driving the growth of the segment. Based on type, the market is divided into high-voltage CT, micro CT, and others. High-voltage CT scanners are used for large and dense components, whereas micro CT scanners are used for small to medium-sized components.

The market players are introducing innovative solutions for industrial computed tomography to improve offerings. For instance, in February 2022, Comet Group announced the launch of a new computed tomography system called YXLON UX50. The system is based on the Geminy software platform. It is designed for foundry and automotive industries for production environment.

Some of the key players include Nikon Corporation; OMRON Corporation; Baker Hughes Company; Comet Group; ZEISS Group; Shimadzu Corporation; North Star Imaging Inc. (Illinois Tool Works Inc.); Werth Inc.; Rigaku Corporation; and VJ Technologies. These key players are adopting different development strategies, such as product launches and others, to expand their presence and market share.

In April 2023, Japan-based Nikon Corporation announced the launch of two new X-ray computed tomography inspection systems. The two variants, VOXLS 30 M 450 and VOXLS 30 C 450 deliver continuous X-ray power of up to 450 watts. The new systems have applications such as scanning large turbine blades and 3D-printed parts.

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Industrial Computed Tomography Market Report Highlights

• The increasing need to reduce product recall instances and improve overall product quality drives the market growth
• The services segment is projected to grow at the fastest CAGR over the forecast period
• The high-voltage CT segment is expected to dominate the market in 2022 with a revenue share of 42.7% and is expected to expand at a CAGR of 7.5% from 2023 to 2030
• The cone-beam CT segment is projected to grow at the fastest CAGR of 7.9% over the forecast period
• The flaw detection and inspection segment held the largest revenue share in 2022 and is expected to expand at a CAGR of 8.6% from 2023 to 2030
• The electronics segment is projected to grow at the fastest CAGR of 8.5% over the forecast period

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Industrial Computed Tomography Market Segmentation

Grand View Research has segmented the global industrial computed tomography market based on offering, type, scanning technique, application, vertical, and region:

Industrial Computed Tomography Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Equipment
• Services

Industrial Computed Tomography Type Outlook (Revenue, USD Million, 2017 - 2030)

• High-voltage CT
• Micro CT
• Others

Industrial Computed Tomography Scanning Technique Outlook (Revenue, USD Million, 2017 - 2030)

• Fan-beam CT
• Cone-beam CT
• Others

Industrial Computed Tomography Application Outlook (Revenue, USD Million, 2017 - 2030)

• Flaw Detection and Inspection
• Failure Analysis
• Assembly Analysis
• Dimensioning and Tolerancing Analysis
• Others

Industrial Computed Tomography Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• Oil & Gas
• Aerospace and Defense
• Automotive
• Electronics
• Others

Industrial Computed Tomography Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in the Industrial Computed Tomography Market

• Nikon Corporation
• OMRON Corporation
• Baker Hughes Company
• Comet Group
• ZEISS Group
• Shimadzu Corporation
• North Star Imaging Inc. (Illinois Tool Works Inc.)
• Werth Inc.
• Rigaku Corporation
• VJ Technologies

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.

Hair Dryer Market 2023-2030 Analysis By Leading Players, Types, Growth Factors, Demand, Opportunities, Current Trends & Predictions

 Hair Dryer Market Growth & Trends

The global hair dryer market size was valued at USD 13.64 billion in 2030, expanding at a CAGR of 6.0% from 2023 to 2030, according to a report by Grand View Research, Inc. The key dynamics driving the demand for hair dryers are growing standards of living and greater emphasis on personal appearance. Evolving fashion trends in hair care and styling and the rising hair styling trends featured in movies and on fashion runways are considerably impacting the sales of hair dryers globally, across all age groups. Hairdryers help style, curl, straighten, volumize, or flatten the hair using heat.

An increase in consumer spending on professional salons and hair styling tools is expected to open new avenues for market growth. Consumer expenditure on professional salons and hairstyling tools is driving the global hair dryer industry. With the growing popularity of social media, beauty trends have changed a lot, which has led to a surge in demand for hair dryers. According to the Philips Global Beauty Index 2019, nearly 76% of women used a hair dryer regularly. Such trends will lead to the high adoption of hair dryers by consumers.

The global economy deteriorated rapidly in the first quarter due to the impact of lockdowns and other restrictions in various countries to counter the COVID-19 pandemic. However, economic activities around the world began to pick up in the second quarter of 2020. By the end of the third quarter and later, new waves of COVID-19 infections led to another round of restrictions and extensions of existing restrictions in various countries. Bottlenecks for semiconductors and other economic issues occurred toward the end of the fiscal year.

The corded product segment held the largest market share more than 83.0% in 2022 and is expected to witness progressive growth in demand during the forecasted period. Generally, corded hair dryers are preferred for use in households and professional services, where portability is not required. They are also more powerful than cordless hair dryers and can dry the hair quicker. They have better airflow and heat settings, hence they are preferred by consumers.

The professional segment is expected to register the highest CAGR of 6.2% during the forecast period. With the rise in disposable incomes and increased beauty standards of the modern world, the trend of visiting hair salons to style hair has been growing in recent years and hair salons are witnessing a higher footfall. This has fueled the demand for professional hair dryers.

The offline segment dominated and held the largest revenue share of over 72.05% in 2022. Offline is the most widely used channel for purchasing hair dryers. Offline stores provide consumers with the option of testing the operations of the product before making a purchase decision.

North America accounted for the largest revenue share of over 34.0% in 2022, particularly owing to the presence of a large consumer base with high awareness about personal grooming and self-care. Furthermore, as consumers in North America have a higher disposable income compared to the rest of the world, especially those in the U.S. and Canada, the tendency of purchasing high-end hair dryers is greater in the region.

The major players account for a considerable market share and have a strong presence across the globe. The hair dryer industry also comprises small and medium sized local players who offer a selected range of products at much cheaper rates and mainly serve regional customers. Global brands face tough competition from these players since smaller players have a better grasp and reach in regional or country markets.

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Hair Dryer Market Report Highlights

• The corded product segment accounted for the leading market share of more than 83.0% in 2022 and is expected to witness significant growth in the near future. Generally, corded hair dryers are preferred for use in households and professional services, where portability is not required
• The professional segment is expected to register the highest CAGR of 6.2% during the forecast period. With the rise in disposable incomes and increased beauty standards of the modern world, the trend of visiting hair salons to style hair has been growing in recent years and hair salons are witnessing a higher footfall
• The offline segment dominated the market and held a revenue share of over 72.05% in 2022. The offline channel is the most widely used channel for purchasing a hair dryer. Offline stores provide consumers with the option of testing the operations of a product before making a purchase decision
• North America accounted for the largest revenue share of over 34.0% in 2022, particularly owing to the presence of a large consumer base with high awareness about personal grooming and self-care

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Hair Dryer Market Segmentation

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

Hair Dryer Product Outlook (Revenue, USD Billion, 2017 - 2030)

• Cord
• Cordless

Hair Dryer Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Professional
• Individual

Hair Dryer Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)

• Online
• Offline

Hair Dryer Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

List of Key Players in the Hair Dryer Market

• Conair LLC
• Panasonic Holdings Corporation
• Koninklijke Philips N.V.
• Dyson Limited
• Tescom Co., Ltd. (Tescom Denki Co., Ltd)
• Spectrum Brands, Inc.
• Revlon Inc.
• Ghd Hair (Jemella Ltd)
• Harry Josh Pro Tools
• Braun GmbH (A brand of Procter & Gamble)

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.

Powered Wheelchair Market Major Key Players And Latest Trend Analysis Till 2030: Grand View Research Inc.

 Powered Wheelchair Market Growth & Trends

The global powered wheelchair market size is expected to reach USD 3.21 billion by 2030, registering a CAGR of 6.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary factors driving the market are the increasing disability rates, a growing aging population, technological advancements, and government initiatives and regulations. According to the Centers for Disease Control and Prevention (CDC), around 27%, 1 in every 4 adults in the United States have some type of disability out of which 12.1% of adults in the United States struggle significantly to walk or climb stairs due to mobility impairment. In the United States, there are an estimated 3.3 million wheelchair users, and this figure is rising annually. Due to the rise in the baby boomer group who has a high need for wheelchairs, the demand for wheelchairs is rising.

Moreover, the rising customization offered by several players is anticipated to boost the market. Wheelchairs are being designed with a greater focus on customization to meet individual needs and preferences. Manufacturers are offering options for adjustable seating, backrests, armrests, and other features, allowing users to have a personalized and comfortable experience.

The COVID-19 outbreak negatively impacted the market in the initial phase of 2020. Due to lockdowns and travel and manufacturing restrictions, the pandemic caused disruptions in the world's supply-chain networks. This has affected the production and distribution of wheelchairs and their components, leading to potential delays in manufacturing and delivery. However, the market recovered soon as there was demand was a surge in demand for healthcare equipment, including wheelchairs, in medical facilities. Hospitals and clinics required additional equipment to manage patients with mobility issues, which contributed to an increased demand for both manual and powered wheelchairs.

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Powered Wheelchair Market Report Highlights

• The marketing the healthcare industry was estimated at USD 2.01 billion in 2023 and is expected to reach USD 3.21 billion in 2030
• The market for powered wheelchairs is expected to expand at a compound annual growth rate of 6.9% from 2024 to 2030 to reach USD 3.21 billion by 2030
• North America dominated the global market in 2023 and accounted for the largest revenue share of 47.8%. This growth is owing to the high target population and increased adoption of advanced wheelchairs
• By category, the adult segment dominated the electric wheelchair industry in terms of revenue share of 86.3% in 2023. Adults comprise individuals from the age group of 18 onwards. Disability in older people due to arthritis pain, or stiffness in a knee, hip, ankle, or foot increases the demand for wheelchairs

Powered Wheelchair Market Segmentation

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Grand View Research has segmented the global powered wheelchair market based on age category, product, portability, end-use, and region:

Powered Wheelchair Age Category Outlook (Revenue, USD Million, 2018 - 2030)

• Adult
• Pediatric

Powered Wheelchair Product Outlook (Revenue, USD Million, 2018 - 2030)

• Front-wheel Drive
• Mid-wheel Drive
• Rear-wheel Drive
• Others

Powered Wheelchair Portability Outlook (Revenue, USD Million, 2018 - 2030)

• Standalone
• Portable

Powered Wheelchair End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Homecare
• Hospitals
• Ambulatory Surgical Centers
• Rehabilitation Centers

Powered Wheelchair Regional Outlook (Revenue in USD Billion 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
  • Saudi Arabia
  • South Africa
  • UAE
  • Kuwait

List of Key Players in Powered Wheelchair Market

• Drive Medical Design & Manufacturing
• Invacare
• Sunrise Medical LLC
• Karman Healthcare
• Quantum Rehab
• Numotion
• Pride Mobility Products Corp.
• Ostrich Mobility
• MEYRA
• Jinmed

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.

Medical Devices Reimbursement Market to Reflect Impressive Expansion During 2023 to 2030: Grand View Research Inc.

 Medical Devices Reimbursement Market Growth & Trends

The global medical devices reimbursement market size is expected to reach USD 1028.2 billion by 2030, expanding at a CAGR of 8.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Medical device reimbursement is defined as the payment a third-party private or public insurer pays a healthcare provider for the cost incurred while using medical equipment. The major factors fueling the industry growth are growing dependence on reimbursement, the increasing prevalence of chronic diseases, and growing preventive care. Focus on early diagnostics and preventive care may in turn lead to higher activity within the diagnostic device industry, thus promoting more reimbursement share from them.

For instance, a fundamental paradigm shift towards incentivizing early diagnosis through reimbursement has been noticed across developed economies, such as thorough screening for breast cancer. During the COVID-19 pandemic, surgeries such as robotic-assisted procedures were postponed. However, during the pandemic recovery period, these surgeries are expected to improve particularly in Asia pacific as the countries such as Japan and China are actively involved in providing reimbursement to robotic-assisted providers to improve the accuracy of surgeries. Such initiatives are likely to have a positive impact on market growth in the post-pandemic period. With an increasing demand for medical equipment, reimbursement services are expected to provide various opportunities for healthcare industries to poach upon. Additionally, the increasing number of people pursuing insurance and consolidation of the healthcare system are major factors fueling the industry growth.

North America dominated the market with a revenue share of over 50.2% in 2022 and is expected to maintain its dominance over the forecast period. The rising demand for healthcare equipment and the increasing number of healthcare centers are expected to drive the industry in this region. The growing prevalence of chronic diseases is driving the demand for various healthcare instruments. This is further expected to support the growth of the regional market. Over the years, the Centers for Medicare & Medicaid Services have reduced the reimbursement for diagnostic radiology in the U.S. For instance, in January 2022, a study published in Science Direct stated that, between 2011 - 2021, there was a steady decline in the reimbursement for diagnostic imaging studies. A continuation of this trend by the government agencies is expected to have a negative impact on the regional market growth in the post-pandemic period.

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Medical Devices Reimbursement Market Report Highlights

• The private payer segment dominated the market with a revenue share of over 65.0% in 2022 due to the presence of a large number of private players
• By healthcare setting, the hospitals segment held the largest revenue share of over 51.8% in 2022 due to recent technological developments and high patient footfall requiring the use of healthcare instruments
• Asia Pacific is projected to witness rapid growth during the forecast period owing to the rising penetration of insurance services in rural and urban areas

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Medical Devices Reimbursement Market Segmentation

Grand View Research has segmented the global medical devices reimbursement market by payer, healthcare setting, and region:

Medical Devices Reimbursement Payer Outlook (Revenue, USD Million; 2018 - 2030)

• Public
• Private

Medical Devices Reimbursement Healthcare Setting Outlook (Revenue, USD Million; 2018 - 2030)

• Hospitals
• Outpatient Facilities
• Others

Medical Devices Reimbursement Regional Outlook (Revenue, USD Million; 2018 - 2030)

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

List of Key Players in Medical Devices Reimbursement Market

• Aviva
• Nippon Life Insurance
• CVS Health
• WellCare Health Plans, Inc.
• BNP Paribas
• Allianz
• Humana Inc.
• Cigna
• UnitedHealth Group
• Anthem Insurance Companies, Inc.

About Grand View Research

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

Global Biostimulants Market Outlook & Future Forecast Report Till 2030

 Biostimulants Market Growth & Trends

The global biostimulants market size is expected to reach USD 4.6 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2023 to 2030. This is attributable to surging consumption of the product in several end-use applications such as foliar, seed, and soil treatment. Foliar treatment held the largest market share in the global market on account of its vast adoption across the agricultural sector. The treatment is highly performance efficient on account of the direct application of the product onto the leaves of the plant. The application procedure is highly labor-intensive but also leads to the minimal wastage of biostimulant. Its extensive benefits over other application techniques have resulted in augmented demand for the product.

Synthetic fertilizer is presently used in large amounts in most regions for soil amendment. However, the growing focus on providing environmental sustainability, improving the soil, and crop yield as well as enhancing the overall productivity has caused a shift toward biobased solutions such as biostimulants. This is expected to have a positive impact on the market in the near future.

The organic food sector has witnessed significant growth over the past few years owing to the rising health concerns among consumers. Organic food contains all the necessary nutrients and does not contain unnecessary toxins that are harmful to human health.

The growing demand for organic food has contributed to the adoption of bio-based products by food & beverage producers in the U.S. According to the U.S. Department of Agriculture, organic food sales account for around 4% of the total U.S. food sales. According to The Food and Agriculture Organization of the United Nations, organic farming is practiced in around 187 countries and as of 2021, 72.3 million hectares of agricultural land was managed organically by around 3.1 million farmers.

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Biostimulants Market Report Highlights

• The seaweed extract biostimulants segment has a strong hold in the market with a highest growth rate of 8.1% over the forecast period. This growth is attributable to the presence of plant growth chemicals such as auxins, cytokinins, gibberellins carbohydrates, and various other nutritive metal elements such as aluminum, potassium, iron, nitrogen, and potassium
• The row crops and cereals segment is growing significantly with a CAGR of 7.1% as they are highly lucrative, and are grown widely across the globe and include millets, corn, and barley
• The seed treatment application segment is estimated to grow at highest rate of 8.6% in terms of revenue over the forecast period owing to its cost effectiveness as compared to other types of conventional techniques
• Asia Pacific region is expected to witness the fastest growth rate of 9.6% in terms of revenue, from 2023 to 2030. This is attributable due to favorable government policies in agricultural sector to promote the use of biobased products and attract investments in the industry have created a wide scope for the growth of product demand in the region
• The global market is fragmented in nature and consists of many small and medium-sized market players coupled with a few big players. The players face stiff competition from local players operating in developing regional markets. Europe is a major market for biostimulants industry

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Biostimulants Market Segmentation

Grand View Research has segmented the global biostimulants market on the basis of active ingredients, crop type, application, and region:

Biostimulants Active Ingredient Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)

• Acid Based
• Seaweed Extract
• Microbial
• Others

Biostimulants Crop Type Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)

• Row Crops & Cereals
• Fruits & vegetables
• Turf & Ornamentals
• Others

Biostimulants Application Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)

• Foliar Treatment
• Soil Treatment
• Seed Treatment

Biostimulants Regional Outlook (Volume, Million Hectare; Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Biostimulants Market

• Isagro Group
• BASF SE
• Biolchim S.P.A.
• Sapec Agro S.A.
• Platform Specialty Products Corporation
• Novozymes A/S
• Valagro SpA
• Italpollina SAP
• Koppert B.V.
• Biostadt India 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.