Waste Heat Recovery System Market Size, Share, Trends, Analysis And Growth Forecast To 2030: Grand View Research Inc.

Waste Heat Recovery System Market Growth & Trends

The global waste heat recovery system market size is expected to reach USD 102.41 billion by 2030, registering a CAGR of 9.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The upcoming evolution of waste heat recovery systems is expected to be amplified by investments in several industries such as refineries, heavy metals, paper & pulp, petrochemicals, and chemicals. Major manufacturing industries are actively adopting waste heat recovery systems to decrease their dependence on conventional energy and produce in-house power to reduce operational costs. For instance, in October 2022, Kawasaki Heavy Industries delivered a waste heat recovery power generation system to the Saitama cement plant of TAIHEIYO CEMENT CORPORATION located in Japan. The installation of this system was completed by the company in 2022. It carried out everything from the general plant designing to the equipment supplying and commissioning, as well as installation. The new system has a rated output of 7,850 kW or about 8 MW. By using waste thermal energy to generate electricity for internal usage, the Saitama cement plant can save money on outside power purchases and reduce its annual carbon dioxide (CO2) emissions by around 23,000 tons.

Rising awareness of clean energy across the industrial sector and availability of energy-saving certificates in developed countries such as the U.S. and regions such as the European Union are expected to boost the demand for waste heat recovery systems over the forecast period. The supportive policies in countries such as China, India, Japan, and Australia are expected to boost the market growth in Asia Pacific over the forecast period.

Moreover, government regulations such as the Energy Conservation (Amendment) Bill, 2022, and incentives related to deploying energy-efficient devices play a pivotal role in promoting energy efficiency across the world. A number of countries have established energy efficiency standards and labeling programs for various products, which encourage manufacturers and consumers to prioritize energy-efficient devices over traditional devices.

The market is a concentrated market where major companies such as Siemens Energy, Mitsubishi Power, Ltd., General Electric account for significant market share in the market in 2022. These companies apart from equipment supply are also focusing on various strategic initiatives including partnerships, new launches, collaborations, and expansion.

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Waste Heat Recovery System Market Report Highlights 

• Preheating segment is anticipated to grow at the fastest rate over the forecast period. One of the primary reasons for the growth of pre-heating applications is the potential for significant cost savings. By using waste heat instead of additional energy sources such as electricity and natural sources, companies can lower their operational expenses, making them more competitive in the market
• Petroleum refinery segment emerged as the largest segment with a market share of 20.9% in 2023 and is expected to register the fastest growth over the forecast period. The significant increase in CO2 emissions underscores the need for oil refineries to take immediate and aggressive action to reduce their carbon footprint. WHRS can play a crucial role in this by capturing and utilizing waste heat, which reduces the overall energy consumption of the facility and subsequently lowers emissions
• Liquid-liquid phase system emerged as the largest segment with a market share of 40.2% in 2023 and is expected to register robust growth over the forecast period. The rising demand for the growing petroleum and power industry across the globe driving the segment growth over the coming years. In the petroleum refining industry, the WHR systems are used for various procedures such as refinement, thermal cracking, and catalytic treatment
• Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, in April 2023, Damco Energy chose GE to build a new power plant. GE will offer its potent 9HA.02 natural gas turbine, steam turbine, generator, and heat recovery steam generator to build the new power station of 840 megawatts (MW). The plant will be operational in 2026

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Waste Heat Recovery System Market Segmentation

Grand View Research has segmented the global waste heat recovery system market on the basis of on end-use, application, phase system, and region:

Waste Heat Recovery System Application Outlook (Revenue, USD Million, 2018 - 2030)

• Pre Heating
• Power & Steam Generation
• Others

Waste Heat Recovery System End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Petroleum Refinery
• Power
• Cement
• Chemical
• Metal Production & Casting
• Pulp & Paper
• Other

Waste Heat Recovery System Phase System Outlook (Revenue, USD Million, 2018 - 2030)

• Liquid-liquid Phase System
• Liquid-gas Phase System
• Thermal Regeneration

Waste Heat Recovery System Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
• Central and South America
  • Brazil
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • South Africa

List of Key Players in the Waste Heat Recovery System Market

• Siemens Energy
• Mitsubishi Power, Ltd.
• General Electric
• ABB
• Turboden S.p.A.
• Bosch Industriekessel GmbH
• Exergy International Srl
• Forbes Marshall
• IHI Corporation
• Terrapin

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.

Business-to-Business E-commerce Market Plying for Significant Growth During 2024-2030: Grand View Research Inc.

 

Business-to-Business E-commerce Market Growth & Trends

The global business-to-business e-commerce market size is projected to reach USD 57,578.97 billion by 2030, registering a CAGR of 18.2% from 2024 to 2030, according to a new study by Grand View Research Inc. Businesses are advocating for more efficient purchase processes with cashless and contactless payment choices as a result of the ongoing digital transformation. Business-to-Business (B2B) e-commerce enterprises are putting a strong emphasis on offering flexible payment options, including third-party financing and mobile wallets, which is prompting the growth of market growth. As B2B e-commerce enterprises continue to explore various alternatives to enhance purchasing experience, they are aggressively offering flexible payment options as part of their efforts to overcome the challenges associated with conventional payment options.

Cloud technology is poised to play a pivotal role in improving B2B capabilities as low infrastructure costs, and enhanced user experience with other apps, among other factors, continue to prompt B2B enterprises to rethink their business development strategy. With a cloud based B2B e-commerce market system in place, enterprises can ensure a scalable environment that enables them to respond to evolving business scenarios flexibly and agilely. The capacity of the cloud-based servers can be scaled dynamically in line with the changing demand and traffic. Moreover, given that the e-commerce software is deployed within an external data center, where both software and hardware are monitored and maintained simultaneously, software upgrades, hardware maintenance, security management, and data storage can be carried out dynamically without requiring any manual intervention.

Advances in AR and VR can also save the time consumers have to spend searching for the right products. The market enterprises aim to demonstrate their products or services in a virtual environment. For example, big-ticket items, such as industrial equipment and office spaces, can be promoted with the help of VR by featuring them in a 3D environment. Moreover, B2B e-commerce web and app developers can also create different experiences by combining AR with artificial intelligence (AI). At the same time, the growing preference among individuals for smart handheld and wearable devices, including smartphones and smart glasses, is driving the adoption of mobile AR to provide immersive experiences. All these trends are opening immense opportunities for the growth of the business-to-business e-commerce market.

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Business-to-Business E-commerce Market Report Highlights

• The intermediary-oriented segment is expected to register the highest CAGR of around 19% over the forecast period. Intermediaries-oriented businesses is anticipated to grow as a wide range of consumer groups, from small and medium-sized enterprises (SMEs) to large corporations, expanding market reach, boosting sales growth, and supporting business development in the B2B e-commerce sector
• The clothing segment is expected to register the highest CAGR of around 20% over the forecast period. The expansion of mobile devices and the implementation of omnichannel strategies enable companies to engage with customers across many encounters, enabling individualized shopping experiences and developing customer loyalty within the clothing B2B e-commerce ecosystem
• The Asia Pacific region is expected to register a significant CAGR of around 19% over the forecast period. E-commerce platforms and digital marketplaces enable companies in the APAC region to reach diverse customer segments and target markets, including SMEs to large enterprises, thereby expanding their market penetration, driving sales growth, and promoting business development in the market

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Business-to-Business E-commerce Market Segmentation

Grand View Research has segmented the global business-to-business e-commerce market based on product category, deployment, and region:

B2B E-commerce Product Category Outlook (Market Value, USD Billion, 2018 - 2030)

• Home & Kitchen Application
• Consumer Electronics
• Industrial & Science
• Healthcare
• Clothing
• Beauty & Personal Care
• Sports Apparels
• Books & Stationery
• Automotive
• Others

B2B E-commerce Deployment Outlook (Market Value, USD Billion, 2018 - 2030)

• Supplier-oriented
• Buyer-oriented
• Intermediary-oriented

B2B E-commerce Regional Outlook (Market Value, USD Billion, 2018 - 2030)

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

The Key Players in the B2B E-commerce Market include

• com, Inc.
• com
• ASOS
• Costco Wholesale Corporation
• Dangdang
• eBay Inc.
• com
• com
• Lazada
• MercadoLibre S.R.L.
• Shopify
• Shopee
• Walmart
• Wayfair LLC
• Zalando

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.

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

Pharmaceutical Manufacturing Market Growth & Trends

The global pharmaceutical manufacturing market size is expected to reach USD 929.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 7.63% from 2023 to 2030. The pharmaceutical industry has undergone significant transformations as a result of technological advancements, cost-effective methods, and increased investments. These factors have had a positive impact on the growth of the market. The implementation of robotic technology and Artificial Intelligence (AI) has played a crucial role in reducing manufacturing floor downtime and minimizing product waste. By incorporating these technologies, efficiency, and productivity in pharmaceutical manufacturing processes have been greatly improved.

In addition, traditional open-transfer manufacturing methods have been replaced by the adoption of single-use disposable solutions, leading to streamlined operations and reduced risks of contamination. Moreover, there has been a notable shift toward integrated, smart, and data-rich paperless operations within the industry. This transition has resulted in error-free and precise production processes, ensuring the production of high-quality pharmaceutical products. These ongoing advancements in the market have significantly contributed to the progress of drug manufacturing. The development of personalized medicine has brought about a revolution in the healthcare sector, offering new opportunities to target various health conditions and paving the way for patient-centric models.

Consequently, there has been a shift from large-scale production to smaller batches to cater to the development of complex medicines and personalized treatments tailored to individual patients. This transformative shift has prompted manufacturers to restructure their supply chains in alignment with the patient-centric healthcare system. All such factors propel pharmaceutical manufacturing market growth over the forecast period. Furthermore, leading companies in the pharmaceutical industry have taken strategic initiatives to enhance their market presence and gain a competitive advantage. These key players actively engage in various activities, such as product development, collaboration & partnership models, agreements, business expansion, and merger & acquisition strategies.

These initiatives are also aimed at strengthening their product portfolios and meeting the growing demand for pharmaceutical products. For instance, in April 2022, Ferring Pharmaceuticals inaugurated an integrated manufacturing and research and development (R&D) facility in Hyderabad, India. This facility underscores Ferring's commitment to expanding its operations and capabilities. The R&D division of the facility focuses on areas, such as packaging development, formulation development, and analytical development. Ferring Pharmaceuticals aims to enhance its product offerings and meet the evolving needs of the market by investing in these areas.

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Pharmaceutical Manufacturing Market Report Highlights

• In 2022, the conventional drugs (small molecules) segment accounted for the highest revenue share of over 54.9%. This is attributed to the easy availability of small molecules products, with high market penetration
• The outsourcing segment dominated the market in 2022 with a revenue share of over 53%. Several benefits associated with outsourcing operations are expected to drive the segment growth at a lucrative pace over the coming years
• In terms of revenue, the tablets segment dominated the market with a share of over 26.08 % in 2022. This is due to the wide availability of tablet-based products and types, such as film and enteric-coated, effervescent, and orally disintegrating tablets
• The oral segment led the global market with a share of more than 58% in 2022. Oral dosage forms are affordable, easy to manufacture, and patient-friendly
• The prescription medicines segment accounted for the maximum revenue share of 83.76% in 2022 and will expand further at a steady CAGR over the forecast period due to the growing prescription drug expenditures across the globe
• North America dominated the market and accounted for a significant revenue share in 2022 due to a large number of strategic pharma partnerships, especially among the well-established and early-stage companies, in this region

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Pharmaceutical Manufacturing Market Segmentation

Grand View Research has segmented the global pharmaceutical manufacturing market based on molecule type, drug development type, formulation, route of administration, therapy area, prescription, age group, sales channel, and region:

Pharmaceutical Manufacturing Molecule Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Biologics & Biosimilars (Large Molecules)
  • Monoclonal Antibodies
  • Vaccines
  • Cell & Gene Therapy
  • Others
• Conventional Drugs (Small Molecules)

Pharmaceutical Manufacturing Drug Development Type Outlook (Revenue, USD Billion, 2018 - 2030)

• In-house
• Outsource

Pharmaceutical Manufacturing Formulation Outlook (Revenue, USD Billion, 2018 - 2030)

• Tablets
• Capsules
• Injectable
• Sprays
• Suspensions
• Powders
• Other Formulations

Pharmaceutical Manufacturing Route of Administration Outlook (Revenue, USD Billion, 2018 - 2030)

• Oral
• Topical
• Parenteral
• Inhalations
• Other Routes of Administration

Pharmaceutical Manufacturing Therapy Area Outlook (Revenue, USD Billion, 2018 - 2030)

• Cardiovascular Diseases (CVDs)
• Pain
• Diabetes
• Cancer
• Respiratory Diseases
• Other Diseases

Pharmaceutical Manufacturing Prescription Outlook (Revenue, USD Billion, 2018 - 2030)

• Prescription Medicines
• Over-the-counter (OTC) Medicines

Pharmaceutical Manufacturing Age Group Outlook (Revenue, USD Billion, 2018 - 2030)

• Children & Adolescents
• Adults
• Geriatric

Pharmaceutical Manufacturing Sales Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Retail
• Non-retail

Pharmaceutical Manufacturing Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Sweden
  • Norway
  • Denmark
• Asia Pacific
  • China
  • Japan
  • 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 the Pharmaceutical Manufacturing Market

• Hoffmann-La Roche Ltd.
• Novartis AG
• GlaxoSmithKline plc
• Pfizer, Inc.
• Merck & Co., Inc.
• AstraZeneca
• Johnson & Johnson
• Sanofi SA
• Eli Lilly and Company
• AbbVie, Inc.
• Thermo Fisher Scientific, Inc.
• Wuxi Apptec
• Samsung Biologics
• FUJIFILM Diosynth Biotechnologies U.S.A., Inc.
• Lonza
• Catalent Pharma Solutions
• Jubilant Pharmova 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.

Generative AI Market to Incur Meteoric Growth During 2024 to 2030: Grand View Research Inc.

 Generative AI Market Growth & Trends

The global generative AI market size is anticipated to reach USD 109.37 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 36.5% from 2024 to 2030. Growing demand to modernize workflow across industries is expected to drive the demand for generative AI applications among industries. Other factors that propel the market growth include the evolution of AI and deep learning, a rise of creative applications & content creation, and innovation of cloud storage, allowing easy data access. Moreover, the introduction of AI-powered gaming that provides more high-level visuals and graphics, interactivity, and a more realistic feel is projected to boost market growth in the coming years.

The COVID-19 pandemic had a positive impact on the market. Many organizations adopted AI & Machine Learning (ML) as a response to the pandemic. Many key players, such as Microsoft, IBM, Google LLC, and Amazon Web Services, Inc., witnessed a growth in sales of AI-based technology during the pandemic. Moreover, the accelerated advancement of digital platforms empowered the adoption of generative AI applications. For instance, in June 2020, Amazon Web Services, Inc. announced the addition of a new generative AI algorithm, Autoregressive Convolutional Neural Network (AR-CNN), to its AWS DeepComposer suite of products, allowing developers to create excellent music digitally.

AWS DeepComposer also provides learning capsules to developers to learn the basics of algorithms. Many generative AI market players offer solutions for numerous applications, such as text-to-image, image-to-image, and super-resolution. For instance, in March 2023, Microsoft Corporation, a software company in the U.S., launched Microsoft 365 Copilot, an AI assistant feature for Microsoft 365 services and applications. Microsoft 365 Copilot can benefit businesses by saving time, streamlining and automating their IT processes, and increasing productivity. Moreover, these industry players are researching generative AI technology for advanced image resolution, face aging, and video resolution technologies.

For instance, U.S.-based Tesla is developing autonomous algorithms using data from car sensors. Also, the neural networks are further trained to perform object detection and semantic segmentation. Investment in the AI and ML sectors to support the market will drive the North America regional market. The presence of tech players in the U.S. and Canada provides lucrative growth opportunities for the regional market. For instance, big tech companies like Microsoft Corporation, Google LLC, and Amazon Web Service are investing in generative AI startups and technology. Asia Pacific is expected to grow at a considerable CAGR from 2024 to 2030 owing to the expansion of end-user industries in countries, such as China and Japan.

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Generative AI Market Report Highlights

• The software segment accounted for the highest revenue share of 64.5% in 2023 and is expected to retain its position over the forecast period. Rising use of generative AI-based software owing to its benefits, such as better image resolution, reduced conversion time, enhanced performance, and quick availability of output is attributed to market growth
• The transformers technology segment dominated the market with a share of 41.3% in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. This can be attributed to the rising adoption of transformer applications worldwide that focus on predicting text and analyzing words. The diffusion networks segment is expected to grow at the fastest CAGR of 39.1% from 2024 to 2030 due to the variety and penetration of diffusion network applications to deliver generative models that generate realistic output
• The media & entertainment segment accounted for the maximum revenue share of 22.6% in 2023 due to the increasing adoption of generative AI for creating better advertisement campaigns and generative AI-based digital platforms for shopping. The BFSI segment is likely to grow at the fastest CAGR from 2024 to 2030
• North America held the largest share of 40.2% in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. This can be attributed to the presence of a large number of key players as well as technology organizations. Asia Pacific is anticipated to register a CAGR of over 37.5% from 2024 to 2030 owing to developing technology infrastructure and government initiatives
• In March 2022, Google LLC, announced the acquisition of Mandiant, a cybersecurity firm, for USD 5.4 billion. This acquisition would help Google LLC provide better advisory services and security operations suites, which will help customers resolve their most critical security challenges

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Generative AI Market Segmentation

Grand View Research has segmented the global generative AI market based on component, technology, end-use, application, model, and region:

Generative AI Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Software
• Service

Generative AI Technology Outlook (Revenue, USD Billion, 2017 - 2030)

• Generative Adversarial Networks (GANs)
• Transformers
• Variational Auto-encoders
• Diffusion Networks

Generative AI End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• Media & Entertainment
• BFSI
• IT & Telecommunication
• Healthcare
• Automotive & Transportation
• Gaming
• Others

Generative AI Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Computer Vision
• NLP
• Robotics And Automation
• Content Generation
• Chatbots & Intelligent Virtual Assistants
• Predictive Analytics
• Others

Generative AI Model Outlook (Revenue, USD Billion, 2017 - 2030)

• Large Language Models
• Image & Video Generative Models
• Multi-modal Generative Models
• Others

Generative AI Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

List of Key Players in the Generative AI Market

• Adobe Inc.
• Amazon Web Services, Inc.
• D-ID
• Genie AI Ltd.
• Google LLC
• International Business Machines Corporation
• Microsoft Corporation
• MOSTLY AI Inc.
• ai
• Synthesia

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.

Restaurant Management Software Market to Reflect a Holistic Expansion During 2023 to 2030: Grand View Research Inc.

 Restaurant Management Software Market Growth & Trends

The global restaurant management software market size is expected to reach USD 14.70 billion by 2030, expanding at a CAGR of 16.3% from 2023 to 2030, according to a recent report by Grand View Research, Inc. The market is expected to witness significant growth owing to the growing internet and smartphone penetration rate, the rising preference for Point-of-Sale (POS) technology, and the restaurants’ strong emphasis on making data-driven decisions for businesses.

Moreover, the growing focus of companies to improve client-server interaction with an IoT-based system has encouraged them to opt for advanced and custom high-performance message infrastructure solutions. Thus, more informed decisions are made based on the insights provided by the software, thereby increasing the profitability of the restaurant. With growing investments in technology in the restaurant industry, restaurant management software providers are expected to witness promising growth opportunities over the forecast period.

In recent years, automation has played an important role in the transformation of the restaurant industry. The growing need to deliver enhanced customer experiences has increased the adoption of the latest technologies that could simplify food ordering, delivery, and transaction processes for customers. The use of cashless payment mobile apps and wallets, QR-code menus, and other touchless payments is poised to become more mainstream over the forecast period. Several restaurant owners have started investing heavily in kitchen automation solutions to deliver consistent customer experience and achieve efficiency across all business operations. This trend is also expected to drive market growth.

Several vendors are offering a myriad of restaurant management software solutions that can streamline the operations of restaurants. Although several vendors offer standalone restaurant solutions, these solutions do not allow unified interaction with other systems already deployed by restaurants. As a result, restaurateurs end up with different systems operating in the same business environment but having limited connectivity with each other, which restricts the mutual sharing of information. This is driving the demand for a unified software platform that can cater to all the major software applications required by a restaurant, or can integrate easily with other prominent software solutions. These factors would further drive the industry’s growth.

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Restaurant Management Software Market Report Highlights

• The cloud segment accounted for a market share of 55.3% in 2022. Benefits such as easy maintenance and automatic upgradation, availability of large data storage space, improved data security, and easy integration with other technologies deployed for managing distinct operations in the restaurant are driving the demand for cloud-based solutions
• The purchasing & inventory management segment is anticipated to observe a CAGR of 16.5% during the forecast period. The growth can be attributed to the increasing demand from restaurants for software solutions that serve automated purchase control, determine food availability in fresh conditions, manage food and stock availability in the warehouse, and prevent the mixing of certain ingredients. This has enabled software providers to offer one-stop solutions to restaurant owners
• The Quick Service Restaurant (QSR) segment is anticipated to observe a CAGR of 18.0% during the forecast period. By leveraging technologies such as scan and learn, mobile ordering apps and websites, and freshness detectors, QSRs can provide details about the food ingredients and their nutritional content to help customers make healthier and informed food choices. For instance, Track My Macca’s, an Australian McDonald’s app, allows customers to scan an order and track the details of ingredients used in their food
• The Asia Pacific regional market size is expected to reach USD 4,337.9 million by 2030. Due to the significant growth opportunities in developing countries such as India and China, the region is a prominent market for full-service restaurants. Furthermore, the region's growing demand for organized food services and the growing trend of out-of-home dining is expected to drive regional market growth

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Restaurant Management Software Market Segmentation

Grand View Research has segmented the global restaurant management software market based on software, deployment, end-use, and region:

Restaurant Management Software Outlook (Revenue, USD Million, 2018 - 2030)

• Front-end Software
• Accounting & Cash Flow
• Purchasing & Inventory Management
• Table & Delivery Management
• Employee Payroll & Scheduling
• Others

Restaurant Management Software Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud
• On-premise

Restaurant Management Software End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Full-service Restaurant (FSR)
  • Fine Dine
  • Casual Dine
• Quick Service Restaurant (QSR)
• Institutional
• Others

Restaurant Management Software Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the Restaurant Management Software Market

• Fiserv, Inc.
• Personica (Fishbowl Inc.)
• Fourth Enterprises LC.
• Jolt
• NCR Corporation
• OpenTable, Inc.
• Oracle Corporation
• Revel Systems
• Square Capital, LLC
• TouchBistro

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.

Probiotics Market is Estimated To Attain $220.14 Billion by 2030

 Probiotics Market Growth & Trends

The global probiotics market size is expected to reach USD 220.14 billion by 2030, growing at a CAGR of 14.0% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market is experiencing steady growth driven by several factors including shifting dietary preferences toward healthier foods coupled with the rising consumer awareness about digestive health products. Manufacturers in the industry are increasingly focused on distribution agreements and partnerships for probiotic sales. For instance, in September 2020, OptiBiotix Health Plc., a UK-based probiotic nutritional supplement manufacturer, announced an exclusive distribution agreement with Ayalla Marketing for the former’s product distribution in Brazil. In such an agreement, manufacturers often decide the minimum order quantity to facilitate cost-effective shipments.

In addition, Meluka Australia, a company that expanded its probiotic range in collaboration with Probiotics Australia in 2021, also expanded its retail channels through other strategic alliances. The company launched an e-commerce channel via WhatsApp in March 2022. It implemented a conversational messaging technology offered by Gupshup for customer engagement. Its e-commerce store is accessible to Australian customers via the WhatsApp platform. Moreover, e-commerce is increasingly becoming popular owing to the availability of a wide range of supplements and probiotic food products. Various companies, especially new entrants, in the global market are collaborating with e-commerce companies to promote their products as well as achieve maximum market penetration.

In addition, supplement manufacturers are increasingly incorporating functional ingredients into products to increase their nutritional value. Ingredient suppliers and supplement manufacturers are focusing on product innovation to expand their portfolio of probiotics and probiotic-based foods and better cater to the specific nutrition conditions of consumers with digestive health problems. For example, in August 2021, SkinBio Therapeutics launched new probiotic supplements targeted at the skin condition psoriasis. This product launch was aimed at expanding the use of probiotics in different application areas.

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Probiotics Market Report Highlights

• The demand for probiotic dietary supplements is expected to grow at a CAGR of 14.1% from 2023 to 2030, driven by the growing consumer awareness of the health benefits offered by probiotic supplements
• The demand for yeast-based probiotics is projected to grow at a CAGR of 13.4% during the forecast period. Dietary supplements are made using yeast as it has proteins, amino acids, vitamin B, and peptides, and is safe for all age groups
• The sales of probiotics through supermarkets/hypermarkets dominated the market in 2022 with a revenue share of over 30% and are expected to continue dominance throughout the forecast period. The availability of a wide range of product offerings, also enabling easy comparisons for customers, is expected to drive this dominance
• The demand for probiotics in the Middle East & Africa region is expected to grow at a CAGR of nearly 15% during the forecast period. It is mainly driven by the increasing demand in countries, such as Saudi Arabia, South Africa, and UAE

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

Probiotics Market Segmentation

Grand View Research has segmented the global probiotics market based on product, ingredient, end-use, distribution channel, and region:

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

• Probiotic Food & Beverages
  • Dairy Products
  • Non-dairy
  • Cereals
  • Baked Food
  • Fermented Meat
  • Dry Foods
• Probiotic Dietary Supplements
  • Food Supplements
  • Nutritional Supplements
  • Specialty Supplements
  • Infant Formula
• Animal Feed

Probiotics Ingredient Outlook (Revenue, USD Million, 2017 - 2030)

• Bacteria
• Yeast

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

• Human Probiotics
• Animal Probiotics

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

• Hypermarkets/Supermarkets
• Pharmacies/Drugstores
• Specialty Stores
• Online Stores
• Others

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

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

List of Key Players in Probiotics Market

• Arla Foods Group
• BioGaia AB
• Hansen Holding A/S
• Danone
• DuPont De Nemours, Inc.
• General Mills, Inc.
• i-Health, Inc.
• Lallemand Inc.
• Lifeway Foods Inc
• Mother Dairy Fruit & Vegetable Pvt. Ltd
• Kerry
• Nestle S.A.
• Probi AB
• Yakult Honsha Co., Ltd.

About Grand View Research

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

Protein Ingredients Market to Observe Strong Development by 2030: Grand View Research Inc.

 Protein Ingredients Market Growth & Trends

The global protein ingredients market size is expected to reach USD 85.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.5% from 2021 to 2028. The market is expected to witness significant growth over the forecast period owing to increasing consumer awareness regarding maintaining a healthy diet and leading an active lifestyle. In addition, the growing popularity of adopting a high protein diet as a part of weight reduction is expected to propel the demand for protein ingredients.

Increasing innovations by various manufacturers in terms of manufacturing proteins that contain a wide range of amino acids and specific functions, including energy balance, weight loss, muscle repair, and satiety, are expected to create immense growth potential for the market over the forecast period. Moreover, ascending demand for protein ingredients among women owing to the prevalence of the ‘strong not skinny’ trend as well as the rising popularity of resistance training among women are factors likely to fuel the market growth.

There has been an increase in the demand for supplements and natural prevention, a rise in the consumption of snack-based meal replacements, and growth in the consumer demand for greater ingredient traceability and authenticity. Moreover, rising demand for higher protein density in mainstream diet and growing multiple nutritional segments addressing various consumer needs on the basis of different life stages, gender, health issues, performance demands, regional diets, and regulatory framework are some of the other major trends being observed in the market.

The protein ingredients companies have been launching new products to cater to the rising demand among health-conscious consumers. For instance, in October 2018, the company DuPont launched a new protein ingredient (pea protein) under the brand TRUPRO 2000 for use in beverage applications. DuPont introduced the new product to further expand its product offerings and increase its penetration in the beverages industry.

Furthermore, in August 2019, Cargill, Incorporated invested in a U.S.-based company called Puris that is operating in the field of plant-based ingredients. A total sum of USD 75 million was invested to cater to the rising demand for pea protein ingredients in the U.S. market. Many international players are looking to make such investments to capitalize on the growing demand for pea protein. Urbanization, westernization of diets, population growth, expanding middle-class with higher disposable income, increasing frequency of exercise, and rising focus on leading an active and healthy lifestyle in the emerging economies, including China and India, are factors expected to drive the demand for protein ingredients.

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Protein Ingredients Market Report Highlights

• By product, plant proteins are expected to witness the fastest growth over the forecast period owing to the increased use of protein ingredients in food and beverages. Increasing use of plant proteins in a wide range of applications, including manufacturing of fertilizers, paper coatings, and printing inks, is creating lucrative growth opportunities for the segment
• Animal/dairy proteins held the largest revenue share of over 70.0% in 2020 owing to the growing adoption of these products in developed markets. Whey protein is expected to witness significant growth over the forecast period as it is largely popular among fitness-savvy consumers
• North America dominated the market with more than 40.0% share of the global revenue in 2020 owing to the high demand from the U.S. food and beverages sector. Consumer markets developing in Asia Pacific are growing at a high pace due to a rise in disposable income and changing lifestyle, resulting in significant growth of the regional market
• The Middle East and Africa is expected to exhibit a revenue-based CAGR of 9.6% from 2021 to 2028. This is attributed to supportive government policies as well as improved economic indicators, which have resulted in the increased availability of packaged foods amongst the urban and rural population

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

Protein Ingredients Market Segmentation

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

Protein Ingredients Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Plant Proteins
  • Cereal-based
  • Legumes-based
  • Root-based
  • Nuts & Seeds-based
  • Ancient Grains
• Animal/Dairy Proteins
  • Egg Protein
  • Milk Protein Concentrates/Isolates
  • Whey Protein Concentrates
  • Whey Protein Hydrolysates
  • Whey Protein Isolates
  • Gelatin
  • Casein/Caseinates
  • Collagen Peptides
• Microbe-based Proteins
  • Algae
  • Bacteria
  • Yeast
  • Fungi
• Insect Protein
  • Coleoptera
  • Lepidoptera
  • Hymenoptera
  • Orthoptera
  • Hemiptera
  • Diptera
  • Others

Protein Ingredients Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Food & Beverages
  • Bakery & Confectionery
  • Beverages
  • Breakfast Cereals
  • Dairy Alternatives
  • Dietary Supplements/Weight Management
  • Meat Alternatives & Extenders
  • Snacks
  • Sports Nutrition
  • Others
• Infant Formulations
• Clinical Nutrition
• Animal Feed
• Others

Protein Ingredients Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
• Central & South America
• Middle East & Africa (MEA)

List of Key Players of Protein Ingredients Market

• DuPont
• Rousselot
• Archer Daniels Midland Company
• Burcon NutraScience
• Tessenderlo Group
• Kewpie Corporation
• Roquette Frères
• The Scoular Company
• CHS Inc.
• Mead Johnson & Company, 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.

3D Cell Culture Market Significant Profits Estimated to be Generated by 2030: Grand View Research Inc.

 3D Cell Culture Market Growth & Trends

The global 3D cell culture market size is expected to reach USD 3.31 billion by 2030, expanding at 11.04% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is driven by technological advancements in in-vitro testing models, a rising focus on personalized medicine, and supportive government legislation for R&D. Moreover, the increasing prevalence of chronic disorders, and the growing significance of cell therapies in their treatment have created momentum for industry expansion.

Tissue engineering has made significant developments in creating 3D culture models that mimic the in-vivo culture media more precisely than the conventional 2D cell cultures. This resulted in increased utilization of 3D cell culture systems for toxicity testing, drug discovery, and regenerative medicine development. Also, recent product launches from industry players have supported market growth to a significant extent. For instance, in August 2021, Amerigo Scientific launched its 3D cell culture products for research purposes with wide applications in medicine, drug discovery, and tissue engineering.

In addition, the development of advanced technologies like microfluidics, bioprinting, and high-content screening systems, has leveraged the capabilities of these models. These technologies allow excellent control over culture conditions, cell organization, and the capability to perform high-efficiency screening, thereby fueling the utilization of 3D culture systems. Moreover, increased collaboration between market players to utilize bioprinting and microfluidics techniques in developing culture models has propelled market growth. For instance, in June 2020, CELLINK and Lonza collaborated to offer 3D bioprinting solutions to optimize access to 3-dimensional cell cultures workflows.

3D cultures can closely replicate the typical microarchitecture and morphology of organs and hence are continuously developed for studies that require in vivo models to analyze the effect of a drug over body tissues and organs. This factor, coupled with the availability of several choices in terms of the material and structure of the scaffold for a variety of in-vitro applications, is anticipated to boost revenue generation for scaffolds.

Recent research has explored the use of a broad range of scaffolds, such as graphene scaffolds, nanofibers, natural marine collagen, freeze-casting, and others. In addition, emerging applications of techniques such as lab-on-a-chip in several assay types, including proliferation, stimulation, viability, transport, high content screening, patch clamping, and metabolic activity are anticipated to lead to an increase in demand for advanced and efficient solutions.

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3D Cell Culture Market Report Highlights

• The scaffold-based technology segment dominated the market in 2022 with a revenue share of 48.85% and is attributed to the increasing application of scaffold-based cultures in tissue engineering and regenerative medicine applications
• Stem cell research & tissue engineering held the largest share of 33.76% in 2022, whereas the cancer institute segment is expected to witness the fastest growth owing to the rising prevalence of cancer, and the benefits offered by 3D cell cultures in cancer research
• In the end-use segment, biotechnology and pharmaceutical companies dominated the market with a revenue share of 46.34%. The higher revenue growth is attributed to the continuous growth and commercial success of biopharmaceuticals coupled with the expanding portfolio of the major pharmaceutical companies
• North America region dominated the global market in 2022 with a revenue share of 45.58%, owing to the presence of advanced healthcare infrastructure, developed economies, the presence of key players, and various strategic initiatives undertaken by them

Access Press Release@ https://www.grandviewresearch.com/press-release/global-3d-cell-culture-market

3D Cell Culture Market Segmentation

Grand View Research has segmented the global 3D cell culture market based on technology, application, end-use, and region:

3D Cell Culture Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Scaffold Based
  • Hydrogels
  • Polymeric Scaffolds
  • Micropatterned Surface Microplates
  • Nanofiber Based Scaffolds
• Scaffold Free
  • Hanging Drop Microplates
  • Spheroid Microplates with ULA Coating
  • Magnetic Levitation
• Bioreactors    
• Microfluidics
• Bioprinting    

3D Cell Culture Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cancer Research
• Stem Cell Research & Tissue Engineering
• Drug Development & Toxicity Testing
• Others

3D Cell Culture End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Biotechnology And Pharmaceutical Companies
• Academic & Research Institutes
• Hospitals
• Others

3D Cell Culture Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the 3D Cell Culture Market

• Thermo Fisher Scientific, Inc.
• Merck KGaA
• PromoCell GmbH
• Lonza
• Corning Incorporated
• Avantor, Inc. 
• Tecan Trading AG
• REPROCELL Inc.
• CN Bio Innovations Ltd
• Lena Biosciences

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.

Ophthalmic Drugs Market Size Projected to Rise Lucratively during 2024 to 2030: Grand View Research Inc.

 Ophthalmic Drugs Market Growth & Trends

The global ophthalmic drugs market size is expected to reach USD 65.55 billion by 2030, garnering a CAGR of 7.80% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising awareness about ophthalmic disorders and the surge in demand for ophthalmic drugs are the factors propelling the market growth. Moreover, an increase in the prevalence of eye diseases such as age-related macular degeneration, cataract, dry eye, diabetic retinopathy, glaucoma, and others are anticipated to boost the demand for ophthalmic drugs.

According to BrightFocus Foundation in 2021, it is estimated that over 3 million Americans are living with glaucoma, and, among them over 2.7 million patients were affected by the most common type of glaucoma i.e. open-angle glaucoma. Moreover, 3.3 million people are affected by blindness and low vision in the U.S. Some of the major risk factors for glaucoma and blindness are, higher age, family history, thin cornea, and high eye pressure. This creates a wide population base for ophthalmic drugs, thereby, ensuring lucrative growth.

Furthermore, ocular therapeutic and drug delivery companies are receiving funding to expedite R&D for advancements in technologies to develop novel drugs, which is likely to fuel market growth. For instance, in June 2020, Re-Vana Therapeutics received USD 3.25 million in pre-series A funding from Qubis, ExSight Ventures, LLC, Clarendon Fund Managers, Visionary Ventures, and Techstart Ventures LLP. The funding is expected to boost the development of Re-Vana Therapeutics’ EyeLief & OcuLief biodegradable technologies that can be used for a small molecule as well as biologics delivery.

Moreover, the rising geriatric population is the key driver for the ophthalmic drugs market growth. According to Safe Eyes America, the most common risk factors for ophthalmic diseases are high age, family history, diabetes, and high blood pressure. For instance, as per AMERICA’s HEALTH RANKINGS senior report 2021 it was estimated that more than 54 million adults of age more than 65 live in the U.S., and that population accounted for 16.5% of the total population. According to Macular Degeneration Research AMD is the leading reason for blindness in U.S. people over the age of 60.

Ongoing regulatory approvals for ophthalmic products are likely to support market growth. For instance, in June 2022 Santen Pharmaceutical Co., Ltd announced that it has got marketing and manufacturing approval for the dry eye disease treatment DIQUAS LX ophthalmic solution in Japan. This solution is the improved formulation that has reduced dosing frequency and improved patient compliance.

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Ophthalmic Drugs Market Report Highlights

• Anti-VEGF agents segment held the largest share in 2022 owing to their rising demand and lesser adverse effects
• Retinal disorders held the largest market share in 2022 owing to the rising prevalence of age-related macular degeneration and diabetic retinopathy
• The topical route of administration dominated the market in 2022 owing to factors such as the benefits of the topical route as it delivers the drug to the targeted site and ease of use
• The eye drops segment is expected to hold the largest share in 2022 owing to rising demand for eye drops, high patient compliance, and availability of OTC products
• Asia Pacific is expected to exhibit the fastest growth over the forecast period due to advancements in healthcare infrastructure, increasing demand for eye products, and a large patient pool

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

Ophthalmic Drugs Market Segmentation

Grand View Research has segmented the global ophthalmic drugs market report based on drug class, disease, route of administration, dosage type, product type, product, and region:

Ophthalmic Drugs Drug Class Outlook (Revenue, USD Billion, 2018 - 2030)

• Anti-allergy
  • Anti-inflammatory
  • Non-steroidal drugs
• Steroidal drugs
• Anti-VEGF Agents
• Anti-glaucoma
• Others

Ophthalmic Drugs Disease Outlook (Revenue, USD Billion, 2018 - 2030)

• Dry Eye
  • Gels
  • Eye Solutions & Suspensions
  • Capsules & Tablets
  • Eye Drops
  • Ointments
• Allergies
  • Gels
  • Eye Solutions & Suspensions
  • Capsules & Tablets
  • Eye Drops
  • Ointments
• Glaucoma
  • Gels
  • Eye Solutions & Suspensions
  • Capsules & Tablets
  • Eye Drops
  • Ointments
• Eye Infection
  • Gels
  • Eye Solutions & Suspensions
  • Capsules & Tablets
  • Eye Drops
  • Ointments
• Infection
  • Gels
  • Eye Solutions & Suspensions
  • Capsules & Tablets
  • Eye Drops
  • Ointments
• Retinal Disorders
  • Retinal Disorder Treatment Market, By Type,
    • Macular Degeneration
    • Diabetic Retinopathy
  • Retinal Disorder Treatment Market, By Dosage Type,
    • Gels
    • Eye Solutions & Suspensions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Uveitis
    • Gels
    • Eye Solutions & Suspensions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Others

Ophthalmic Drugs Dosage Form Outlook (Revenue, USD Billion, 2018 - 2030)

• Gels
• Eye Solutions & Suspensions
• Capsules and Tablets
• Eye Drops
• Ointments

Ophthalmic Drugs Route of Administration Outlook (Revenue, USD Billion, 2018 - 2030)

• Topical
  • Retinal Disorders
  • Subconjunctival
  • Intravitreal
  • Retrobulbar
  • Intracameral
• Local Ocular
• Systemic

Ophthalmic Drugs Product Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Prescription Drugs
• OTC

Ophthalmic Drugs Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Branded Drugs
• Generic Drugs

Ophthalmic Drugs Regional Outlook (Revenue, USD Billion, 2018- 2030)

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

List of Key Players of Ophthalmic Drugs Market

• Pfizer Inc.
• Alcon
• Novartis AG
• Bausch Health Companies Inc.
• Merck & Co., Inc
• Regeneron Pharmaceuticals Inc
• Allergan (AbbVie Inc)
• Bayer AG
• Genentech, Inc. (F. Hoffmann-La Roche Ltd)
• Nicox
• Coherus Biosciences, 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.

Science Fiction or Reality? The Role of Gene Therapy in Regenerative Medicine

 The increasing awareness regarding advanced medical therapies supports the global regenerative medicine market demand. In addition, a strong investigational pipeline of promising candidates and expected approvals in the coming years are projected to favor market expansion. Furthermore, advancements in nanotechnology and the increasing prevalence of degenerative disorders have emphasized research to introduce novel regenerative therapies.

According to a study by Grand View Research, in 2023, the global market size of regenerative medicine was valued at USD 30.4 billion and is anticipated to expand at a CAGR of 16.8% from 2024 to 2030. Regenerative medicines have the exceptional ability to modify the elemental mechanisms of diseases. Regenerative therapies in trials deliver favorable resolutions for certain chronic indications. These solutions involve the use of multiple approaches and products, such as gene therapy, tissue-engineered products, small molecules, biologics, allogeneic & autologous stem cells, and combinational products. Supportive initiatives from governments, biotechnology & pharmaceutical companies, and healthcare providers are projected to boost the industry growth.

Where Technology meets Medicine

Novel technologies such as tissue engineering, gene therapy, and cell-based therapies are employed in regenerative medicine to offer augmented patient care with regeneration or replacement of genes, cells, organs, & tissues in patients. The increasing applications of regenerative medicine have encouraged researchers and professionals to explore the potential of novel technologies in regenerative medicine therapeutic models. For instance, developments in the fabrication of tissue mimics & advanced grafts, technologies that can integrate grafts, and the host vasculature have been gaining traction in recent years. In addition, using immune modulation and cell injection strategies to enhance the host’s intrinsic regenerative capacity is also set to gain traction.

On the other hand, cell sheet technology is a relatively newer concept dependent on retrieving confluent cell sheets from a substrate that responds to temperature. This enables the deposition of signaling molecules, Extracellular Matrix (ECM) molecules, and cell adhesion molecules by the cells, further assisting them to remain intact. The adoption of successive layers of these sheets to develop constructs of higher thickness is presently being witnessed and is explored in corneal reconstruction.

Emerging Applications of Gene Therapy in Regenerative Medicine

Gene therapy has high potential in treating diabetes and cancer with the help of restoring gene function. In the present scenario, gene-based therapies are used in treating patients suffering from cancer, monogenic diseases, cardiovascular disorders, infectious diseases, genetic disorders, ophthalmological indications, and central nervous system diseases.

The use of gene therapy to treat blood cancer has shown positive results in a study that included around 35 individuals. According to the American Cancer Society, gene-based drugs help in treating over 70% to 80% of blood cancer patients. The treatment is CAR-T therapy and has been tried on patients with lymphoma and leukemia. Gene-based therapy is one of the most efficient therapies as it provides treatment at genetic levels. Restoring the genetic alterations can help regain the lost functionality in cells, which provides opportunities to develop regenerative therapies.

Several healthcare entities are now investing in the R&D of gene-based therapies to meet the increasing demand for regenerative medicines. For instance, in March 2023, Pharmaron Beijing Co., Limited invested USD 190.26 million into the UK gene therapy CDMO with support from the British government. This investment was aimed at boosting the enhancement of gene therapy development across the UK. The advancements in gene therapy are higher in oncology due to the high disease burden and genetically driven cancer pathophysiology.

The steady commercial success of gene therapies is projected to accelerate the regenerative medicine market growth in the coming years. Furthermore, researchers are required to address certain technical challenges to make gene therapy practical. Researchers have begun using RNA Interference (RNAi) for developing gene therapy against chronic infectious diseases, such as Human Immunodeficiency Viruses (HIV). This is expected to support the future development of gene therapies.