Blood Testing Market Is Expected To Expand At A CAGR Of 8.3% From 2021 To 2028

Blood Testing Industry Overview

The global blood testing market size was valued at USD 73.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2021 to 2028. Growing medical spending by the government and regulatory bodies is expected to drive the market during the forecast period. Government and key organizations are constantly engaged in encouraging patients to undergo regular diagnostic examinations.

Multinational healthcare organizations aid in the discovery of novel techniques and promote awareness about the eradication and diagnosis of common as well as chronic disorders. Robust external funding to the clinical studies conducted for the development of novel innovative diagnostic tests is expected to boost the market. The introduction of constructive regulatory parameters that aim to promote the usage of POC testing is a high-impact rendering driver of the market.

Gather more insights about the market drivers, restrains and growth of the Global Blood Testing market

Regulatory bodies such as FDA, Centers for Medicare and Medicaid Services (CMS), and Federal Trade Commission play an important role in the regulation of diagnostic tests. These bodies have undertaken initiatives to commercialize Clinical Laboratory Improvement Amendments (CLIA) compliant diagnostic tests that can aid in early disease detection. The introduction of CLIA in the U.S. is expected to boost usage rates of blood tests during the forecast period.

A continuous rise witnessed in the prevalence of chronic diseases along with high demand for rapid products for assessment of health conditions is expected to offer the market a significant momentum in the coming years. This is expected to provide lucrative opportunities to operational entities as blood testing is integral for the regular monitoring of diseases. Moreover, to provide swift services, clinics, hospitals, and other healthcare facilities are providing advanced tests. An exponential rise in the number of COVID-19 cases globally is boosting the demand for large-volume diagnostic testing.

Rapid diagnosis, effective treatment options, and future prevention plans are essential in the management of COVID-19. The current race for the development of test kits that are cost-effective and offer point-of-contact detection of coronavirus infection has led to rapid innovation in diagnostics. In July 2020, doctors in Washington examined blood for people affected with COVID-19 for identification of patients that are at great risk to encounter severe illness and to isolate the one who might need a ventilator during treatment.

Browse through Grand View Research’s Clinical Diagnostics Industry Research Reports.

  • Molecular Diagnostics Market – The global molecular diagnostics market size was valued at USD 37.04 billion in 2021 and is expected to decline at a compound annual growth rate (CAGR) of -1.6% from 2022 to 2030. The shrinking of the market can be attributed to the decline in demand for molecular COVID-19 testing during the forecast period. However, factors such as technological advancements, rising elderly population, and increasing demand for genetic testing is boosting the growth of the market. In addition, rising demand for PoC testing can be attributed to increasing demand for self-testing diagnostics, and patient awareness about faster diagnostics.

  • Blood Transfusion Diagnostics Market – The global blood transfusion diagnostics market size was valued at USD 3,713.7 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2027. This growth can be attributed to the increasing rate of approval by the U.S. FDA for blood transfusion diagnostics products. The introduction of new technologies to assist in blood donation and storage is expected to further drive the market.

Blood Testing Market Segmentation

Grand View Research has segmented the global blood testing market on the basis of test type and region:

Blood Testing Type Outlook (Revenue, USD Million, 2017 – 2028)

  • Glucose
  • A1C
  • Direct LDL
  • Lipid panel
  • Prostate-specific antigen
  • COVID-19
  • BUN
  • Vitamin D
  • Thyroid-stimulating hormone
  • Serum Nicotine / Cotinine
  • High sensitivity CRP
  • Testosterone
  • ALT
  • Cortisol
  • Creatinine
  • AST
  • Other tests

Blood Testing Regional Outlook (Revenue, USD Million, 2017 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Market Share Insights

  • April 2020: the company launched its third COVID 19 test, which is a laboratory-based antibody blood test that helps in detecting the antibody IgG. This launch has expanded Abbott’s molecular tests segment, increasing segment revenue.

Key Companies profiled:

Some prominent players in the global Blood Testing market include

  • Abbott
  • F. Hoffmann-La Roche AG
  • Bio-Rad Laboratories, Inc.
  • bioMerieux SA
  • Quest Diagnostics
  • Biomerica, Inc.
  • Becton, Dickinson and Company
  • Siemens Healthineers
  • Danaher Corporation
  • Trinity Biotech Plc

Order a free sample PDF of the Blood Testing Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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Hpv Testing And Pap Test Market Is Expected To Expand At A CAGR Of 16.4% From 2021 To 2028

HPV Testing And Pap Test Industry Overview

The global HPV testing and Pap test market size was valued at USD 1.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.4% from 2021 to 2028. Technological advancements, increasing number of cervical cancer screening programs, and high incidence of cervical cancer are some major factors driving the market for HPV testing and Pap test.  However, the outbreak of Covid-19 and the implementation of restrictions to stay-at-home across the globe have rigorously reduced routine cancer screenings.

The decline in screenings was steep and swift; as of April 25, 2020, the decline recorded for breast and cervical cancer screening was 94%. During the lockdown, screening of cervical cancer decreased to 80% relative to the baseline, among the 1.5 million population of women is the Kaiser Permanente Southern California (KPSC) network. Segmenting the screening as per age, for women aged between 21 and 29, screening rates of cervical cytology per 100 individual months declined 78%. For women aged between 30 and 65, HPV test screening rates declined 82% per 100 person-months.

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Cervical cancer is among the most common cancers among women above the age of 40. According to estimates from the WHO, cervical cancer is the fourth most frequent cancer, with approximately 570,000 cases and over 311,000 deaths in 2018. It is estimated that approximately 99% of cervical cancer cases are typically linked with HPV infections. Cervical cancer is mostly diagnosed among women aged between 35 and 44 with the average rate of diagnosis being at 50 years. According to data from the U.S. Department of Health and Human Services, the rate of new cervical cancer cases was estimated to be around 7.4 per 100,000 women, with the death rate being 2.2 per 100,000 women each year.

Growing demand for technologically advanced diagnostic procedures for screening cervical and vaginal cancers is one of the crucial factors expected to drive the market for HPV testing and Pap test over the forecast period. Various technological advancements, such as the development of HPV-type 16 E7-specific human immunologic assays used in non-HLA2 types, cobas system approvals, and usage of various molecular markers in screening procedures, are expected to drive the market for HPV testing and Pap test. In 2019, researchers at Massachusetts General Hospital’s Center for Systems Biology and Harvard Medical School, Boston presented a novel screening handheld device that uses Artificial Intelligence (AI) for HPV detection. The novel device detects the presence of HPV strains 16 and 18 in a turnaround time of 2 hours. Similarly, researchers at Pathogen Discovery Laboratory have developed a diagnostic device that detects the presence of precancerous markers in HPV diagnosis.

Furthermore, the rising number of awareness programs by various organizations, such as the National Cervical Cancer Coalition, WHO, CDC, and the U.S. Preventive Services Task Force (USPSTF), for cervical cancer screening is one of the major factors expected to drive the market for HPV testing and Pap test during the forecast period. In March 2019, the U.K. government rolled out its first national cervical screening campaign called Cervical Screening Saves Lives. The campaign run by Public Health England (PHE) was initiated owing to a reduced number of screenings by women in the U.K. The campaign was used to facilitate increased awareness about the disease and initiate screening of the disease.

Browse through Grand View Research’s Clinical Diagnostics Industry Research Reports.

  • Neglected Tropical Diseases Diagnosis Market – The global neglected tropical diseases (NTD) diagnosis market size was valued at USD 6.09 billion in 2021 and is expected to expand at a CAGR of 4.4% during the forecast period. Growing awareness of NTDs and an increasing number of initiatives undertaken by the government are anticipated to fuel the market growth. For instance, the inclusion of NTDs in the Sustainable Development Goals (SDG), a United Nations Development Program, as a global target is anticipated to fuel market growth.
  • Blood Transfusion Diagnostics Market – The global blood transfusion diagnostics market size was valued at USD 3,713.7 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2027. This growth can be attributed to the increasing rate of approval by the U.S. FDA for blood transfusion diagnostics products. The introduction of new technologies to assist in blood donation and storage is expected to further drive the market.

HPV Testing And Pap Test Market Segmentation

Grand View Research has segmented the global HPV testing and Pap test market on the basis of test type, application, product, technology, end-use, and region:

HPV Testing & Pap Test Type Outlook (Revenue, USD Million, 2016 – 2028)

  • HPV Testing
  • Pap Test

HPV Testing & Pap Test Application Outlook (Revenue, USD Million, 2016 – 2028)

  • Cervical Cancer Screening
  • Vaginal Cancer Screening

HPV Testing & Pap Test Product Outlook (Revenue, USD Million, 2016 – 2028)

  • Instruments
  • Consumables
  • Services

HPV Testing & Pap Test Technology Outlook (Revenue, USD Million, 2016 – 2028)

  • PCR
  • Immunodiagnostics
  • Other Technologies

HPV Testing & Pap Test End-use Outlook (Revenue, USD Million, 2016 – 2028)

  • Hospitals & Clinics
  • Laboratories
  • Others

Regional Outlook (Volume, Million Units; Revenue, USD Million, 2016 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Market Share Insights

  • November 2018: Qiagen N.V. introduced the QIAscreen HPV PCR Test – a molecular diagnostic test used to diagnose 15 high-risk genotypes of HPV. The assay includes genotyping functionality and screening of HPV.

Key Companies profiled:

Some prominent players in the global HPV Testing And Pap Test market include

  • Abbott Laboratories
  • Qiagen N.V.
  • Becton, Dickinson and Company
  • Quest Diagnostics, Inc.
  • Hologic, Inc.
  • F. Hoffmann-La Roche
  • Femasys, Inc.
  • Arbor Vita Corporation
  • NURX, Inc.
  • Seegene, Inc.
  • Thermo Fisher Scientific, Inc.
  • bioMérieux SA

Order a free sample PDF of the HPV Testing And Pap Test Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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Digital Patient Monitoring Devices Market Is Expected To Expand At A CAGR Of 23.5% From 2021 To 2028

Digital Patient Monitoring Devices Industry Overview

The global digital patient monitoring devices market size was estimated at USD 62.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 23.5% from 2021 to 2028. Rising demand for continuous monitoring devices and increasing prevalence of chronic diseases such as diabetes, hypertension, cardiovascular diseases, and others are factors propelling the growth of the market.

In recent years, the adoption of sensor-based wearable devices such as continuous glucose monitors, ECG, and others is increasing among patients as well as healthcare providers. These devices can track the patient’s vital signs on a real-time basis which can then be transmitted to their doctors electronically and can also be integrated with the EHR. This allows the providers to continuously monitor the patient eliminating the need for frequent hospital visits. The rising demand for wearable devices has encouraged key players to carry intensive research and launch innovative products in the market for digital patient monitoring devices. For example, in March 2020, Somatix, Inc. announced the launch of an AI-powered continuous remote patient monitoring system. The introduction of similar innovative products is anticipated to augment the digital patient monitoring device market growth.

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Incorporating digital patient monitoring systems can help in significant cost savings, thereby reducing the overall healthcare cost. Many countries across the globe are dealing with the economic burden of chronic diseases. According to the Centers for Disease Control and Prevention, heart disease and stroke costs around USD 214 billion to the U.S. healthcare system every year. With the use of digital patient monitoring systems, people at risk can be monitored remotely, thus preventing hospitalization and reducing healthcare costs. This is likely to favor the growth of the market for digital patient monitoring devices in the coming years.

The COVID-19 pandemic brought a digital revolution in the healthcare industry by increasing the demand for wearable devices, mHealth apps, and telehealth by multiple folds. To control the spread of infection and patient volumes, hospitals were forced to shut down their OPDs and shift to digital health. According to a survey conducted by VivaLNK, a connected healthcare solution provider, 55% of the respondents were using or planning to use Remote Patient Monitoring (RPM) for COVID-19 patients.

The government of many countries has started embracing digital health tools after realizing their potential. For instance, in April 2020, the Federal Communications Commission started a COVID-19 relief program which provided USD 200 million to equip hospitals with telehealth technology. This has opened new opportunities for the market players and start-up companies to develop innovative solutions. For example, in May 2020, VitalConnect, Inc. received Emergency Use Authorization from the USFDA for its cardiac monitoring device VitalPatch for use in COVID-19 patients.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

  • Scar Treatment Market – The global scar treatment market size was valued at USD 12.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.1% from 2021 to 2028. The market is largely being driven by the increasing need for improving aesthetic appeal in individuals and complete skin rejuvenation. Women account for the majority of the demand as they are more concerned about their appearance. The increasing number of road accidents and burn injuries have also resulted in a rise in the demand for cosmetic procedures on a global scale.

  • Ophthalmic Packaging Market – The global ophthalmic packaging market size was valued at USD 3.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028. The growing need for brand enhancement and brand differentiation in a highly competitive environment, development of novel packaging material, and growing need to adhere to new regulatory guidelines on recycling of packaging materials are some of the factors contributing to the growth of the market.

Digital Patient Monitoring Devices Market Segmentation

Grand View Research has segmented the global digital patient monitoring devices market on the basis of type, product, and region:

Digital Patient Monitoring Devices Type Outlook (Revenue, USD Million, 2016 – 2028)

  • Wireless Sensor Technology
  • mHealth
  • Telehealth
  • Wearable Devices
  • Remote Patient Monitoring
    • Hospital Inpatient
    • Ambulatory Patient
    • Smart Home healthcare

Digital Patient Monitoring Devices Product Outlook (Revenue, USD Million, 2016 – 2028)

  • Diagnostic Monitoring Devices
    • Vital Sign Monitors
    • Sleep Monitors
    • Fetal Monitors
    • Neuromonitors
    • Other Monitors
  • Therapeutic Monitoring Devices
    • Insulin Monitors
    • Respiratory Monitors
    • Other Monitors

Regional Outlook (Volume, Million Units; Revenue, USD Million, 2016 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Market Share Insights

  • June 2020: Koninklijke Philips N.V. launched Avalon CL Fetal and Maternal Patch and Pod, an obstetrics monitoring solution

Key Companies profiled:

Some prominent players in the global Digital Patient Monitoring Devices market include

  • GE Healthcare
  • AT&T
  • ATHENAHEALTH, INC.
  • Abbott
  • Koninklijke Philips N.V. AB
  • Hill-Rom Services Inc.
  • Medtronic
  • Omron Healthcare, Inc.
  • FitBit, Inc.
  • Garmin Ltd.
  • VitalConnect
  • ResMed
  • Siren

Order a free sample PDF of the Digital Patient Monitoring Devices Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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Drug Discovery Informatics Market Is Expected To Grow At A CAGR Of 11.3% From 2021 To 2028

Drug Discovery Informatics Industry Overview

The global drug discovery informatics market size was valued at USD 2.39 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.3% from 2021 to 2028. The drug discovery informatics market is set to gain momentum in the coming years due to advancements in high-performance computing & web services, increasing adoption of in-silico modeling tools, the growing volume of drug discovery data, and rising demand for novel medicine moieties. The launch of advanced drug discovery information technology is set to intensify the industry competition. For instance, in January 2021, Certara, Inc. launched Simcyp Physiologically-based Pharmacokinetic (PBPK) Simulator platform version 20. The new models help in assessing and analyzing the drug action during pregnancy and lactation.

In addition, it helps the customers with critical decisions regarding optimizing medicine safety and efficacy profile. Companies are also increasingly adopting informatics solutions to shorten the long drug discovery timeline. For instance, in December 2020, Curve Therapeutics Ltd. implemented the CDD Vault platform for managing its genetically encoded Microcycle platform. It is a ubiquitous hosted platform suitable for applications across pharmaceutical, biotechnology, and academic institutes for securing and seamless sharing of data in real-time, thereby facilitating collaborative discoveries.

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Moreover, the accelerated Covid-19 drug discovery around the world is further contributing to the market growth. For instance, for providing fast-track solutions, scientists performed virtual screening using medicine from the DrugBank, for targeting the viral proteins and human ACE2 receptors. These studies were based on in silico tools for screening small molecules that have the potential usage in drug discoveries against Covid-19.

Similarly, companies are developing several web services & solutions for supporting various steps of drug development for Covid-19. For instance, in June 2020, the IBM visual molecular explorer platform explored a selected set of the generated molecules targeting the coronavirus (SARS-CoV-2). The open-source sharing of the AI-generated artefacts in the explorer helped in the initial stages of optimal medicine designing.

Browse through Grand View Research’s Pharmaceuticals Industry Research Reports.

  • Specialty Generics Market – The global specialty generics market size was valued at USD 67.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.2% from 2022 to 2030. The increasing adoption of specialty generic medicines for the treatment of complex chronic diseases such as hepatitis C and their increasing prevalence is a key driver for the market.

  • Heparin Market – The global heparin market size was valued at USD 7.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.4% from 2022 to 2030. The increasing prevalence of conditions such as renal impairment, coronary artery disease, and venous thromboembolism is anticipated to drive the market. According to the CDC in 2022, each year around 900,000 people could be affected in the United States with venous thromboembolism which may result in the death of 10% – 30% of people within one month of diagnosis.

Drug Discovery Informatics Market Segmentation

Grand View Research has segmented the global drug discovery informatics market on the basis of workflow, mode, services, and region:

Drug Discovery Informatics Workflow Outlook (Revenue, USD Million, 2017 – 2028)

  • Discovery Informatics
    • Identification, Validation, & Assay Development Informatics
    • Lead Generation
  • Development Informatics
    • Lead Optimization
    • FHD Preparation
    • Phase IA
    • Phase IB/2

Drug Discovery Informatics Mode Outlook (Revenue, USD Million, 2017 – 2028)

  • Outsourced
  • In-house

Drug Discovery Informatics Services Outlook (Revenue, USD Million, 2017 – 2028)

  • Sequence Analysis Platforms
  • Molecular Modeling
  • Docking
  • Clinical Trial Data Management
  • Others Services

Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Market Share Insights

  • March 2020: Charles River Laboratories International, Inc. entered in partnership with Deciphex. Deciphex’s Patholytix Preclinical platform will help in maximizing pathologist productivity and delivering data faster to clients.

Key Companies profiled:

Some prominent players in the global Drug Discovery Informatics market include

  • Certara
  • Boehringer Ingelheim International GmbH
  • Infosys Ltd.
  • Charles River Laboratories
  • Collaborative Drug Discovery, Inc.
  • Eurofins DiscoverX Products
  • Jubilant Biosys
  • Selvita
  • Novo Informatics Pvt. Ltd.
  • ChemAxon Ltd.
  • Albany Molecular Research Inc.
  • Oracle
  • Accenture
  • Agilent Technologies, Inc.
  • Illumina, Inc.

Order a free sample PDF of the Drug Discovery Informatics Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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Orthopedic Navigation Systems Market Is Expected To Grow At A CAGR Of 14.4% Over The Forecast Period

Orthopedic Navigation Systems Industry Overview

The global orthopedic navigation systems market size was valued at USD 1.97 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.4% over the forecast period. Rising geriatric population & cases of joint reconstruction, growing healthcare expenditure, and high awareness levels among patients & healthcare professionals are expected to drive the market growth over the forecast years. There is an increase in the number of cases of orthopedic conditions, including osteoporosis, osteoarthritis, rheumatoid arthritis, and ligamentous knee injuries. These ailments affect the body’s musculoskeletal system, which comprises muscles, bones, joints, nerves, ligaments, cartilage, and tendons. This results in a reduction in the range of motion, stiffness, swelling, and muscle pain that later requires surgical treatment.

This is anticipated to boost the demand for the orthopedic navigation system in the coming years. According to the CDC estimation, 54.4 million (or 1 in 4) U.S. adults have some form of arthritis, which is expected to reach 78 million by the year 2040. This indicates the potential need for navigation systems for orthopedic surgeries in foreseeable future. Facing the outbreak of COVID-19, many countries made the required decision to abandon all non-emergency surgical procedures to free up caregivers for patients with COVID-19.

Gather more insights about the market drivers, restrains and growth of the Global Orthopedic Navigation Systems market

The pandemic has adversely affected the overall market owing to restrictions on non-emergency procedures, which resulted in delays to several procedures consequently causing massive revenue losses for the orthopedic companies. For instance, Stryker’s net revenue decreased by 9.1% from last year and Smith & Nephew’s revenue decreased by 11.2% in 2020 from 2019. However, from the 3rd quarter, the market started recovering and began working rapidly as hospitals have gradually started resuming elective procedures. Therefore, in the coming years, it is projected that the market for orthopedic navigation systems will recover rapidly after the resumption of surgical procedures at full force.

Associated advantages of Computer-assisted Surgeries (CAS), such as low blood loss, shorter hospital stays, and easier rehabilitation, are other factors expected to drive the industry revenue. CAS is instrumental in delivering accurate implant alignment, provides improved functionality, improves quality-adjusted life year, and causes less pain & tissue damage and fewer complications. Due to the abovementioned factors, demand for minimally invasive surgery is increasing rapidly. Furthermore, technological advancement in orthopedic surgical navigation procedures, increasing incidence of osteoarthritis, and rise in funding pertaining to R&D are other factors expected to boost the demand.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

  • Medical Service Robots Market – The global medical service robots market size was valued at USD 10.6 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 17.1% over the forecast period. The growth can be attributed to the introduction of technologically advanced robotic equipment in the healthcare sector and the rise in per capita healthcare spending. Continuous advancements in technology, such as robotic catheter control systems (CCS), data recorders, data analytics, remote navigation, motion sensors, 3D-Imaging, and HD surgical microscopic cameras, are projected to drive the industry growth.

  • Botulinum Toxin Market – The global botulinum toxin market size was valued at USD 5.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.5% from 2022 to 2030. Botulinum toxin is a protein and neurotoxin produced by the bacterium clostridium botulinum. The toxin is a selective blocker of acetylcholine released from nerves that block neural transmission from the nerves when injected into the muscle. Botulinum toxin is one of the most exceptional substances encountered in medicine and science.

Orthopedic Navigation Systems Market Segmentation

Grand View Research has segmented the global orthopedic navigation systems market on the basis of application, technology, end-use, and region:

Orthopedic Navigation Systems Application Outlook (Revenue, USD Million, 2016 – 2028)

  • Knee
  • Hip
  • Spine

Orthopedic Navigation Systems Technology Outlook (Revenue, USD Million, 2016 – 2028)

  • Electromagnetic
  • Optical
  • Others

Orthopedic Navigation Systems End-use Outlook (Revenue, USD Million, 2016 – 2028)

  • Hospitals
  • Ambulatory Surgical Centers (ASCs)

Regional Outlook (Volume, Million Units; Revenue, USD Million, 2016 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Market Share Insights

  • November 2020: Stryker completed the acquisition of Wright Medical, in an attempt to enhance its global market position in trauma and extremities, providing significant opportunities to improve outcomes, advance innovation, and increase patient reach.
  • July 2020: Smith+Nephew publicized the introduction of the RI.HIP Navigation for Total Hip Arthroplasty (THA). This device received 510(k) clearance from the U.S. FDA and CE Mark certification for THA. As a result of such initiatives, competitive rivalry in this industry is anticipated to be high in the coming years.

Key Companies profiled:

Some prominent players in the global Orthopedic Navigation Systems market include

  • B. Braun Melsungen AG
  • Stryker
  • Medtronic
  • Smith+Nephew
  • Johnson & Johnson Services, Inc. (DePuy Synthes)
  • Zimmer Biomet
  • Amplitude Surgical
  • Kinamed, Inc.
  • Globus Medical
  • OrthAlign

Order a free sample PDF of the Orthopedic Navigation Systems Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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Healthy Snacks Market: Supermarkets And Hypermarkets Are Expected To Sustain Growth

Healthy Snacks Industry Overview

The global healthy snacks market is expected to reach USD 152.5 billion by 2030, registering a CAGR of 6.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The industry has benefited from a growing consumer focus on the nutritional characteristics of snacks which include high vitamins and proteins and low calories. The rising need for on-the-go snacks, combined with growing customer purchasing power, is expected to propel the market forward. Consumers’ hectic lifestyles are also predicted to drive industry growth during the forecast period.

Rising health concerns, changing lifestyles and diets, and the increased substitution of meals with snacks are reported to be driving the industry. Obesity and other disorders are on the rise around the world, prompting people to adopt healthier lifestyles and, as a result, consume healthier snacks like rice snacks and multigrain chips (crisps). With the emergence of the COVID-19 pandemic, the focus on healthy snacks has intensified further and has thereby, driven market growth in recent years.

Savory snacks was the largest segment in the product category globally. The growing trend of working from home being witnessed across the world is one of the significant factors that is expected to drive demand for savory snacks during the forecast period.

Healthy Snacks Market Segmentation

Grand View Research has segmented the global healthy snacks market on the basis of product, distribution channel, and region:

Based on the Product Insights, the market is segmented into Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy, and Others.

  • Healthy savory snacks dominated the product segment in the overall market. The demand for this segment is driven by working-class people and college graduates, for whom healthy savory snack products have emerged as a dinner alternative. Savory snack foods allow individuals to satisfy their appetite, as well as prevent them from overeating during mealtime. Companies are developing baked chips that are all-natural, non-GMO, multigrain, and low in salt, as well as provide many health benefits.
  • Healthy fruit snacks are expected to showcase the fastest growth. Fruit bars are still at the forefront of innovation in the healthy snacks market. There are a variety of prebiotic, probiotic, and omega-3 fortified bars on the market, as well as keto and paleo choices that are low in carbohydrates and high in medium-chain triglycerides. Furthermore, protein content is increasing in bars, with standard whey and soy proteins being used more frequently, but pea protein is becoming more popular.

Based on the Distribution channel Insights, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Others.

  • The supermarkets & hypermarkets accounted for the major share of the global market in 2021. The sheer volume of supermarkets and hypermarkets spread across the globe is the major factor for the domination of this distribution channel. For instance, one of the largest supermarkets chains in the world is the 7-Eleven. It has over 46,000 outlets in 16 countries. Furthermore, the rapid progress of retail infrastructure across the developing economies is further accentuating industry growth.
  • The COVID-19 pandemic has fueled the online distribution channel and is expected to be the fastest-growing segment during the forecast period. The collaboration of food delivery platforms with grocery chains is a trend that is gaining momentum. For instance, In October 2021, Tesco, U.K.’s largest supermarket chain, partnered with German delivery group Gorillas to deliver their products in 10 minutes. 

Healthy Snacks Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is fragmented with the presence of global and regional players offering a variety of snacking options customized to the local palates.

  • In January 2021, MondelÄ“z International acquired Hu Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients
  • In February 2020, B&G Foods, Inc. has acquired Farmwise L.L.C., a Massachusetts.-based maker of frozen veggie fries, veggie tots and veggie rings. Farmwise’s frozen veggie snacks are from cauliflower, navy beans and onions. The products are vegan, non-GMO Project verified and free of major allergens, including gluten, wheat, soy, dairy, tree nuts and peanuts
  • In February 2019, Unilever acquired British snack brand Graze from investment firm The Carlyle Group. Graze offers a variety of snacks with no artificial ingredients, including nuts, seeds, trail mixes and bars

Some of the key players operating in the healthy snacks market include:

  • Nestlé
  • The Kellogg Company
  • Unilever
  • Danone
  • PepsiCo
  • MondelÄ“z International
  • Hormel Foods Corporation
  • Dole Packaged Foods, LLC.
  • Del Monte Foods, Inc.
  • Select Harvests
  • B&G Foods
  • Monsoon Harvest

Order a free sample PDF of the Healthy Snacks Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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Downstream Processing Market: Chromatography Systems Segment Dominated And Accounted For The Largest Revenue Share

Downstream Processing Industry Overview

The global downstream processing market size is expected to reach USD 94.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.0% from 2022 to 2030. The capacity requirements during the development of biologic drugs have changed over the past few years, wherein the demand for manufacturing high-volume products has shifted to developing small-volume, high-potency products. This creates new avenues for single-use technologies. A rise in the utilization of downstream processing techniques for the development of COVID-19 vaccines is a significant factor driving the market. The adoption of small-scale, single-use systems for process development and downstream processing is already high.

Thus, evolutionary changes are expected in the area of single-use technologies for manufacturing small-volume, highly-potent drugs. The development of novel film chemistries, closed systems, automation in clinical-scale single-use systems, and smart sensors are some noteworthy advancements in the field. A rise in applications of downstream processing for the production of biopharmaceuticals is expected to bring growth opportunities to the market. This has also led to an increase in strategic deals and development in the market. For instance, in February 2021, Evozyne, LLC collaborated with a leading rare disorders drug manufacturer for the production and marketing of novel biopharmaceuticals for immune modulation.

Downstream Processing Market Segmentation

Grand View Research has segmented the global downstream processing market based on product, technique, application, and region:

Based on the Product Insights, the market is segmented into Chromatography Systems, Filters, Evaporators, Centrifuges, Dryers, and Others.

  • The chromatography systems segment dominated the market and accounted for the largest revenue share of 41.7% in 2021. Continuous R&D activities to improve the efficiency and speed of chromatography systems are anticipated to propel segment growth. In April 2021, Thermo Fisher Scientific launched the HyPeak chromatography system, it is the company’s only single-use chromatography system for bioprocessing, with significant functions in therapeutic protein as well as vaccine development. 
  • The filters segment is expected to register the fastest CAGR from 2022 to 2030. A rise in the utility of filters for viral inactivation is the key factor driving the market for downstream processing. In September 2020, a team of researchers from the Pennsylvania State University analyzed the efficiency of BioEX hollow fiber and Planova 20N virus filters for the removal of viral-size particles. Such studies are anticipated to increase the adoption rate of filters for downstream processing of biologics.

Based on the Technique Insights, the market is segmented into Cell Disruption, Solid-liquid separation, Concentration, Purification by Chromatography, and Formulation.

  • The purification by chromatography segment dominated the global market and accounted for the largest revenue share of more than 41.00% in 2021. Single-use chromatography and filtration systems are considered the gold standards in downstream bioprocessing, hence companies are engaging in business development strategies, such as acquisition, merger, and agreement, for expanding their chromatography portfolio. For instance, in December 2021, Repligen bought Newton, New Jersey-based BioFlex Solutions.
  • The solid-liquid separation segment is expected to witness the highest CAGR during the forecast period. There are several advantages of solid-liquid separation, such as it is simple, cost-effective, and well suited for continuous-mode manufacturing. However, high shear forces generated are a common hurdle with this technique.

Based on the Application Insights, the market is segmented into Antibiotic Production, Hormone Production, Antibodies Production, Enzyme Production, and Vaccine Production.

  • The antibiotic production application segment dominated the market in 2021 and accounted for the largest share of more than 32.5% of the global revenue. This high growth can be attributed to the wide application scope of antibiotics for the treatment of several disorders. More than 700,000 people die of antibiotic-resistant bacteria, annually. This leads to the high demand for the development of antibiotics, which in turn propels market growth.
  • Antibodies production grew at the fastest rate owing to the rise in demand for monoclonal antibodies. The launch of novel products for efficient purification of antibodies also propels segment growth. For instance, in January 2021, Cytiva launched HiScreen Fibro PrismA for the process development and purification of monoclonal antibodies (mAb). The product features a fiber-based Protein A platform which enables a 20-fold increase in productivity.

Downstream Processing Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Companies are increasingly focusing on the development of new products for downstream processing. For instance, in April 2022, Merck entered a partnership with the administrative management Board at the Wuxi National High-Tech Industrial Development Zone. To considerably enlarge Merck’s premier Mobius a Single-Use production center in China. In February 2022, Sartorius completed its purchase of Novasep’s chromatography section. The portfolio bought includes chromatography systems designed largely for smaller biomolecules like peptides, oligonucleotides, and insulin, as well as new technologies for biologics’ continuous production. Some of the prominent players in the downstream processing market include:

  • Merck KGaA
  • Sartorius Stedim Biotech S.A
  • GE Healthcare
  • Thermo Fisher Scientific Inc.
  • Danaher Corporation
  • Repligen
  • 3M Company
  • Boehringer Ingelheim International GmbH
  • Corning Corporation
  • Lonza Group Ltd
  • Dover Corporation
  • Ashai Kasei
  • Ferner PLC
  • Eppendorf A

Order a free sample PDF of the Downstream Processing Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Industrial Internet Of Things Market Is Expected To Expand At A CAGR Of 22.8% From 2021 To 2028

Industrial Internet of Things Industry Overview

The global industrial internet of things market size is expected to reach USD 1.11 trillion by 2028, registering a CAGR of 22.8% from 2021 to 2028, according to a new report by Grand View Research, Inc. The strong emphasis incumbents of various industries and industry verticals, such as manufacturing, are putting on automation, predictive maintenance, and efficient supply chain management, is expected to drive the growth of the market over the forecast period. Several companies have realized the benefits of implementing IIoT to improve their functional efficacies and have subsequently deployed various advanced IIoT solutions based on compatible software and sensors, thereby contributing to the growth of the industrial internet of things (IIoT) market.

Machine-to-Machine (M2M) communication is poised to trigger a paradigm shift in the way various industrial processes are managed. The aggressive adoption of M2M communication for applications, such as smart grids, and across various industries and industry verticals, such as automotive, utilities, home automation, healthcare, and security, is expected to drive the adoption of IIoT. The number of different types of connected devices and sensors installed in industrial environments to collect data from the local environment and upload it to the cloud is expected to increase over the next few years. The latest operational and informational technologies can utilize the data collected by Operational Technology (OT), M2M communication, and IoT systems to gain new insights and improve the decision-making processes.

Industrial Internet of Things Market Segmentation

Grand View Research has segmented the global industrial internet of things market based on component, end use, and region:

Based on the Component Insights, the market is segmented into Solution, Services, amd Platform.

  • The solution segment dominated the market in 2020 and accounted for over 50% of the total revenue share. The segment is expected to continue leading over the forecast period. Solution providers are putting a strong emphasis on the introduction of innovative information systems for various industries and industry verticals are part of the efforts to increase their market share. 
  • The services segment is expected to exhibit the highest CAGR of more than 23.0% from 2021 to 2028. The growth can be attributed to a substantial rise in the number of connected devices, which are generating large volumes of data. At present, IIoT applications utilize centralized cloud systems that are responsible for controlling the overall processes and the flow of information. Edge computing is also set to transform the industry by offering real-time analytical mechanisms and solutions to decentralize transactions and storage across the network.

Based on the End-use Insights, the market is segmented into Manufacturing, Energy & Power, Oil & Gas, Healthcare, Logistics & Transport, Agriculture, and Others.

  • The report provides an in-depth analysis of the industrial internet of things market by further segmenting the market based on end-use into manufacturing, energy and power, oil and gas, healthcare, logistics and transport, agriculture, and others. The manufacturing segment is expected to dominate the market over the forecast period, and account for nearly 30% of the revenue share by 2028. Manufacturing entities are aggressively adopting digital manufacturing technologies and IIoT plays a vital role in such advanced technologies.
  • The logistics and transport segment is projected to register the highest CAGR of more than 26% from 2021 to 2028. The growth can primarily be attributed to the strong emphasis logistics and transportation companies are putting on enhancing asset management and subsequently on the adoption of smart transportation. Conventionally, the logistics industry has been using RFID tags, which are now being replaced by internet-connected trackers, which can potentially support a wide range of functionalities.

Industrial Internet of Things Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The key market participants are expected to focus on cost reduction, thereby making it challenging for new entrants to make a foray into the market. However, venture capital funding is expected to help IIoT startups in making inroads into the market. Both private and public sector companies are expected to start focusing on innovation, productivity, and value as they gradually realize that IIoT would be imperative for delivering integrated and sustainable products and services demanded by tech-savvy businesses. Leading market players are putting a strong emphasis on making industrial IoT more accessible and secure. For instance, in November 2018, General Electric Company (GE) launched a new offering, Predix Edge, which is aimed at streamlining edge-to-cloud computing and helping businesses in moving efficiently and securely from trial to production. Some of the prominent participants operating in the global industrial internet of things market are:

  • ABB
  • General Electric Company (GE)
  • IBM Corporation
  • Intel Corporation
  • Rockwell Automation, Inc.
  • Siemens AG
  • Microsoft Corporation

Order a free sample PDF of the Industrial Internet of Things Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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3d Animation Market Is Anticipated To Expand At A CAGR Of 12.1% From 2022 To 2030

3D Animation Industry Overview

The global 3D animation market size is expected to reach USD 51.03 billion by 2030, according to the latest report by Grand View Research, Inc. The market is expected to register a CAGR of 12.1% from 2022 to 2030. The rising demand of consumers for realistic and appealing content has made the public embrace 3D animation technology, leading to increased demand for technology. The growing acceptance of technology for visual effects in movies and the increasing demand for high-quality animation by customers drive the global market.

The adoption of 3D animation technology, also known as Computer Generated Imagery (CGI), significantly increased in the media and entertainment industry, owning to the deployment of Visual Effects (VFX) by animators, movie makers, and game player developers. Various technological advancements are driving the market, so technological advancements in the television and communication industries are the key driver for global market growth. Key driving factors for the increase in the animation market are- emphasis on quality HD videos, technology, and multiple usages of 3D animation.The combination of Artificial Intelligence (AI) and 3D animation technology has made the process of stimulation quick and effortless. 

3D Animation Market Segmentation

Grand View Research has segmented the global 3D animation market based on technique, component, deployment, end-use, and region:

Based on the Technique Insights, the market is segmented into 3D Modeling, Motion Graphics, 3D Rendering, and Visual Effects.

  • The 3D modeling segment accounted for the largest revenue share of over 30.6% in 2021 and this dominance is anticipated to continue throughout the forecast period. 3D Modeling is the procedure of creating objects in 3D software. These objects are created based on previously designed or real-world visions and are used as 3D natural elements made. Animation is about movement, and expressing this movement will require a crippling of objects. 
  • The virtual effects segment is projected to grow at the fastest CAGR of 13.8% from 2022 to 2030. The visual effect is a process in which images are created or manipulated outside the context of live shooting in film and video production. Integration of live-action video with other live images or CGI features to create realistic images with VFX. Special effects are abbreviated as SPFX, SFX, F / X, or FX easily with deceptive or visual tricks used in theater, video game, drama, film, and television industries to mimic events imagined in the form of a story or the visual world.

Based on the Component Insights, the market is segmented into Hardware, Software, and Services.

  • The software segment accounted for the largest revenue share of 52.7% in 2021 and this dominance is anticipated to continue throughout the forecast period. This growth may be due to the software’s ability to create visuals that appear realistic and tangible, as well as your essential need for 3D animated movies and games. The section includes Software Development Kits (SDKs), integrated software solutions, and plug-ins. The widespread distribution of animated software in the gaming industry is expected to boost the category’s growth.
  • The hardware segment accounts for a significant revenue share of 30.6% in 2021. 3D animation combines the creation and editing of complex 2D and 3D images, putting many modern computers under pressure. Therefore, there is a need to equip particular hardware to further 3D animation. Furthermore, the increased penetration of technology into the education and training industry is projected to boost the services segment.

Based on the Deployment Insights, the market is segmented into On-premise and On-demand.

  • The on-premise segment accounted for the largest revenue share of 61.7% in 2021. Location storage depends on the company’s data management or infrastructure, which provides greater data security and savings. Because of these benefits, many large businesses are using existing solutions. The combination of AI and 3D animation has made the simulation process easier.
  • The on-demand segment is expected to record the highest CAGR of 14.4% for the forecast period. This growth may be due to cartoon producers’ rapid adoption of cloud technology. Improved cloud delivery features allow the server to process delivery automatically once the user has uploaded their creation. In addition, processes are completed in a short time in the most complex solutions, freeing up storage space. Many companies use cloud delivery technology as they are popular with end-users because of their services and time-saving benefits.

Based on the End-use Insights, the market is segmented into Media & Entertainment, Architecture & Construction, Education & Academics, Manufacturing, Healthcare & Life Sciences, Government & Defence, and Others.

  • The media and entertainment segment adjudged for the largest revenue share of 35.0% in 2021 and is expected to maintain its dominance over the forecast period. The reason for significant growth is that most of today’s films use 3D and CGI technology. Hollywood is now using 3D technology to create various costumes, props, and objects to make their movies more realistic. 3D modeling in construction provides a realistic view of a completed project by combining all the pieces.
  • The healthcare segment is anticipated for a significant CAGR of 13.0% from 2022 to 2030. The healthcare industry uses a wide range of sophisticated equipment and equipment in patient care, such as scanners, respirators, ventilators, blood purifiers, etc. Marketing all such tools become much easier with the 3D animation of machines. The 3D animation works in almost impossible cases to explain in manuals. Soldiers can use 3D animation to train themselves in a variety of situations.
  • The manufacturing segment is expected to record the highest CAGR of 13.2% for the forecast period. Industrial animation is the animation catering to an industrial machine or product and its specific method or range of motion. Its purpose is to define the operation of a product/equipment/ industrial components. The manufacturing industry and process industry all the processes such as oil and gas, chemicals, chemicals, packaging, and some others – use 3D animation to present and record equipment and methods. 

3D Animation Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The 3d animation market includes a highly competitive environment and many international and regional players. Due to the need to design biomedical devices such as ventilators, respirators, accessories, scanners, and tubes during the COVID-19, the market saw an upsurge in demand. In March 2020, Fusion Animation, an animated video maker of pharmaceutical actions in the Pharma and Healthcare industry, unveiled a 3D model of the COVID-19 virus for scientists to study possible treatments to combat the pandemic. Key stakeholders who want to expand their companies’ presence to establish themselves in a highly competitive business environment entered into relationships with other technology providers. For instance, in March 2022, a deep technology startup Kinetix, partnered with the pioneer of 3D Animation, Adobe, making 3D Animation Aided by Artificial Intelligence (AI) easily accessible to creators.

Leading companies are also investing heavily in R&D activities to introduce new technologies and develop simulating solutions with distinctive features to gain a foothold over their competitors. Incorporating an artificial object and artificial intelligence into 3D simulation defines a new paradigm of technological growth. Industry participants engage in mergers and acquisitions to improve their offered solutions. The market can be described as a fragmented market characterized by multiple global and regional competitors. To strengthen their foothold and thrive in an increasingly competitive business environment, prominent market players pursue mergers & acquisitions and strategic partnerships. Market players are also working toward developing UCaaS-based solutions to automate their processes. Some of the major players in the global 3D animation market include:

  • Autodesk, Inc.
  • Corel Corporation
  • Adobe Systems Incorporated
  • NVIDIA Corporation
  • Side Effects Software Inc.
  • Maxon Computer

Order a free sample PDF of the 3D Animation Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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Eyewear Market Is Expected To Expand At A CAGR Of 8.4% From 2022 To 2030

Eyewear Industry Overview

The global eyewear market size is anticipated to reach USD 323.77 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to exhibit a compound annual growth rate (CAGR) of 8.4% from 2022 to 2030. The growth can be attributed to the growing trend of customized eyewear, as consumers prefer unique products that can be designed according to their needs. Consumers prefer glasses according to the shapes of the face and eyes, the texture and color of the glasses, the design and material of the frame, etc. The popular customized eyewear includes photochromic glasses and glasses with high index numbers to eliminate UV radiation.

The technological developments in lens-making technology and 3D printing technology with eyewear manufacturing allow the market players to gain a strategic advantage. For instance, in December 2021, Safilo Group S.p.A introduced its first-to-market 3D printed custom-made snow goggles. This new product addresses a wide range of facial features and shapes, delivers all-day comfort, removes pressure points or hot spots, eliminates light leakage due to improper fit, and provides an expanded field of view.

The market space is being strongly influenced by the collaboration of digital channels with the eyewear value chain, which has exponentially increased the sales of eyewear products. As the e-commerce distribution channel is gaining momentum, several eyewear companies leveraged it as an opportunity to provide facilities such as product virtualization and virtual facial analysis to their customers.

Eyewear Market Segmentation

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

Based on the Product Insights, the market is segmented into Contact Lenses, Spectacles, and Sunglasses.

  • The spectacles segment accounted for more than 55% in 2021, which can be credited to the increased product demand fueled by the rising prevalence of computer vision syndrome (CVS). This is majorly due to the increasing usage of mobile phones and digital screens among the global population. The growing trend of online learning, especially during the pandemic, has increased the cases of CVS among children, stimulating the adoption of anti-glare and anti-fatigue glasses.
  • The contact lenses segment captured a substantial revenue share of around 33% in 2021. It is expected to grow significantly over the upcoming years with light-adaptive lenses and multifocal toric lenses. These modern lenses quickly and smoothly change according to different lighting conditions, which reduces irritation and dryness often caused by the contact lenses. The ongoing research and development of contact lenses with improved aesthetics and quality will further support the segment growth.

Based on the Distribution Channel Insights, the market is segmented into E-Commerce, and Brick & Mortar.

  • The brick-and-mortar segment had dominated the market by capturing a notable revenue share of more than 79% in 2021. This can be attributed to people’s increasing awareness regarding regular eye-checks up and usage of eyeglasses, instigating the sale of eyeglasses from brick and mortar stores. Several companies are focusing on expanding their stores to gain a competitive edge in the market.
  • The e-commerce segment is expected to witness a growth rate of over 9.0% through 2030. Online services gained massive traction during the pandemic as people were forced to practice social isolation. In addition, heightened adoption of smart devices, lucrative discounts offered by the online platforms, and the ability to compare prices and features offered are positively influencing the growth of the e-commerce segment. 

Eyewear Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The major players operating in the market mainly focus on increasing R&D activities and developing products with high-end functionalities, e.g., smart glasses. They are also engaging in strategic alliances to strengthen their foothold in the market. For instance, in September 2021, Meta (former Facebook) and Ray-Ban launched Stories, smart glasses equipped with dual 5-megapixel cameras that capture images and 30-second long videos. The glasses come with external-facing LED lights to indicate that the cameras are working. Moreover, its temples serve as earphones and have touch-activated controls for calls, volume, and music playback.

The companies also emphasize the development of products that can help address climate changes and facilitate sustainability. They are coming up with recycled eyewear using plastic waste from the sea, recycled wood, and recycled metal. To illustrate, in August 2021, JINS Eyewear US, Inc. launched a new range of biodegradable sunglasses under its popular JINS&SUN brand.

Some of the eminent players operating in the global eyewear market are:

  • Johnson & Johnson Vision Care, Inc.
  • ESSILORLUXOTTICA
  • CooperVision
  • Carl Zeiss AG.
  • Bausch & Lomb Inc.
  • Safilo Group S.p.A.
  • Charmant Group
  • Chemilens (CHEMIGLAS Corp.)
  • CIBA VISION
  • De Rigo Vision S.p.A
  • Fielmann AG
  • HOYA Corporation
  • JINS, Inc.
  • Marchon Eyewear, Inc.
  • Marcolin S.p.A
  • QSpex
  • Rodenstock GmbH
  • Seiko Optical Products Co., Ltd.
  • Shamir Optical Industry Ltd.
  • Silhouette International Schmied AG
  • Warby Parker
  • Zenni Optical, Inc.

Order a free sample PDF of the Eyewear Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

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