Embolic protection devices market to register a double-digit growth rate over 2017-2024, surging preference for minimally invasive treatments to stimulate the product demand
An inherent vertical of the healthcare space, the competitive landscape of embolic protection devices market is defined by geographical expansions and M&As. Recently for instance, InspireMD, Inc., one of the global producers of embolic protection devices, signed an agreement with various regional distributors for extending its presence across myriad geographies. In Greece, the firm partnered with T-Vascular IKE Medical Supplies and in the Caribbean, it has collaborated with SRL and Endo-Serv. With this exclusive distribution agreement, InspireMD is looking forward to attracting more customers for supplying highly advanced and minimally invasive medical devices. Another factor that may support the embolic protection devices industry player in its endeavor is that its regional distributors encompass a loyal, strong consumer base. Indeed, companies have been continually adopting such tactics to sustain in embolic protection devices market, the valuation of which stood at USD 870 million in 2016.
Germany Embolic Protection Devices Market Size, by Product, 2013-2024 (USD Million)
The escalating occurrence of cardiovascular diseases, particularly among the geriatric population, thus, is a major driving force for embolic protection devices market. These components are prominently used in cardiac surgeries to reduce complications due to debris, owing to their superior design. Indeed, these devices also find extensive usage in ventricular assist device explantation and high-risk coronary artery bypass grafting. Driven by the nature of seriousness of these procedures, hospitals mandatorily prefer official FDA-approved EPD devices – a trend that is encouraging embolic protection devices market players to constantly improve their product portfolios.
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Recently in 2017, the U.S. based Claret Medical received clearance for its Sentinel Cerebral Protection System. With the development of this system, it has set a high standard of care in the United States to protect patient from strokes. Apparently, this system has the capability to remove the debris associated with TAVR (transcatheter aortic heart valve replacement). As per statistics, the implementation of this novel system in TAVR has protected over 5,500 patients from the risk of stroke. In alignment with Claret, numerous other giants in embolic protection devices industry have been increasingly involved in the development of clinically advanced and next-generation minimally invasive medical devices. This would have considerable influence on product demand over the years ahead.
Apart from product differentiation, considering the future scope of highly advanced EPDs, companies in embolic protection devices industry have also been involved in the clinical trials of medical devices. The major concerns for these firms presently is safety and feasibility associated with the products. Recently, Contego Medical, LLC, a leading producer of medical devices for peripheral vascular and cardiovascular treatments, commenced a clinical trial for one of its drugs. The trial was conducted to evaluate the safety of the Neuroguard IEP® 3-in-1 Carotid Stent & Post-Dilation Balloon System with an Integrated Embolic Protection. With this development, Contego Medical has indeed added value to its neurovascular product portfolio and its research spectrum, encouraging other embolic protection devices industry biggies to do the same.
Numerous behemoths across embolic protection devices market have been aiming to set up novel benchmarks with regards to innovative product development. For instance, recently in 2017, Venus Medtech received the official approval from the China FDA for its Venus A-valve device. Apparently, this device offers a less invasive treatment solution for patients classified under the high-risk category. Medical device manufacturers thus, have been shifting their focus toward the development of highly advanced EPDs. Aided by their significant efforts, in conjunction with the emerging application arenas of these components, like atherectomy procedures, embolic protection devices industry is likely to garner appreciable gains over 2017-2024.
Author Name : Sunil Hebbalkar
Polyglycolic acid market to witness phenomenal proceeds in the U.S., shale gas extraction to drive the regional trends
Being one of the biggest beneficiaries of the developments in tissue bioengineering, polyglycolic acid market has garnered hefty proceeds in the medical sector. In fact, as per reliable estimates, the medical fraternity contributed to more than 60% of the overall polyglycolic acid market size in 2016. Widespread adoption of absorbable sutures has been a chief driver of the increasing demand for PGA from this sector. Reportedly, the global surgical suture market is already a billion-dollar space and is anticipated to witness remarkable growth in the ensuing years.
U.S. polyglycolic acid market size, by application, 2013 – 2024 (USD Billion)
Elaborating further on the application arena of polyglycolic from medical space, tissue engineering, biodegradable bone graft polymers, transplantation procedures, cell culture, etc. are some of the renowned opportunistic areas generating a massive demand for PGA. Due to the biodegradable properties of PGA, it has been categorized as one of the most widely used biodegradable bone graft polymers. For the records, the global biodegradable bone graft polymers market is projected to witness a CAGR of 7.5% over 2017-2024.
Tissue engineering is also anticipated to provide a remarkable impetus to PGA market share, on grounds of the material being recognized as an outstanding support for tissue development. Speaking along similar lines, fiber form of PGA has been prominently used in the medical applications over the recent years, having held 40% of the overall polyglycolic market landscape in 2016.
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However, despite the medical applications holding a major chunk of polyglycolic industry size, the contributions of shale gas extraction and packaging domains has also been commendable. PGA has been widely adopted in shale gas extraction driven by its operational efficiency and cost reduction capabilities. In fact, as per a report by Global Market Insights, Inc. this sector is estimated to be catalogued as the fastest growing application of PGA market, with a target CAGR of 8% over 2017-2024.
In terms of geographical standards, North America stood as one of the biggest recipients of this application growth and led the overall PGA market in 2016. For the records, North America procured 60% of polyglycolic acid industry size in 2016, with U.S. as a chief revenue pocket. Allegedly, the United States, driven by its recorded shale gas production, has been classified as a prominent facilitator of the global energy change. As per the U.S. EIA, the country’s natural gas consumption is estimated to reach 31.6 TcF by 2040. 56% of this growth is believed to be driven by upward development in shale gas production.
Europe is also forecast to stand tall in the regional hierarchy with an estimated annual growth rate of 8% over 2017-2024. The regional growth can be credited to the food packaging applications, which is predominantly focusing on recyclable and biodegradable solutions. Citing a relevant instance, RefuCoat, the EU-funded project, recently created quite a buzz in the regional polymer market landscape. Reportedly, the project aims at deploying high-performance coatings to develop completely recyclable food packaging endorsed with improved functionalities and gas barrier properties. The move will provide a significant push to the Europe polyglycolic acid market trends, on grounds of the aforementioned hybrid coating comprising PGA and modified silica oxide as the key materials.
In this context, it is imperative to mention that the packaging applications have also been a prominent driver of global PGA industry trends, driven by the product’s excellent biodegradability and flexural strength. PGA has seen a remarkable rise in its demand curve with its proven benefits over conventional plastics. As per estimates, 30% of the PGA industry application landscape was procured by packaging sector in 2016. Film form of PGA has been extensively used in packaging applications and is estimated to record a CAGR of 8.5% over 2017-2024.
All in all, the profitability matrix of PGA market is projected to remain high with the sustainability and biodegradability trends becoming mainstream. The competitive landscape is likely to be monopolistic, synonymous to that in 2016, with Kureha Corporation as the leading player. In terms of commercialization potential, global polyglycolic acid market is slated to surpass a revenue of USD 9 billion by 2024.
Author Name : Shikha Sinha
A brief outline of sodium acetate market: substantial product demand from food processing sector to drive global industry growth over 2017-2024
In the recent times, sodium acetate market has witnessed a rather lucrative commercialization prospects owing to its extensive application across numerous business verticals including food processing, leather and textile, and pharmaceuticals. Prominently utilized as a food preservative, sodium acetate has further found widespread usage as a neutralizing agent, diuretic agent, and buffering & pickling agent across various end-use domains – a factor that has contributed significantly toward sodium acetate industry share augmentation. Moreover, rapid industrialization and enormous FDI investment in emerging nations across the globe has spurred the growth potential of the aforementioned industry verticals, which has, in turn, driven the sodium acetate market size expansion.
U.S. Sodium Acetate Market Size, by Product, 2013 – 2024 (USD Million)
Food processing sector to emerge as a prominent end-user of sodium acetate industry
Owing to its excellent food preservation qualities, sodium acetate has been increasingly preferred by food processing industry over the past decade, which has proved to be quite beneficial for the overall sodium acetate market. The widescale applicability of this chemical can be attributed to the massive rise in the consumption of canned food items subject to fast-paced lifestyles and a drastic variation in dietary habits across developed and developing countries. This has, in consequence, provided a significant boost to the growth potential of sodium acetate industry. Apparently, sodium acetate is being utilized as an acid regulator to prevent the growth of harmful bacteria in canned meat, vegetables, and fruit. Furthermore, it would be prudent to mention that the addition of sodium acetate during the canning and drying procedures not only desists bacterial growth but also extends the shelf life of the product.
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Concurrently, sodium acetate market has found a major foothold in the global dairy sector, as the chemical is being utilized as an emulsifier and preservative in numerous dairy products. Apart from being widely used in condensed milk, sour cream, buttermilk, whey-based yogurts and drinks, sodium acetate has emerged as a preferred preservative in cheese preparations such as processed cheese, ripened cheese, cheese analogues, and processed cheese. In view of the rapid advancement of the global dairy sector, the growing prominence of sodium acetate as a preservative in the overall dairy industry is likely to impel the sodium acetate market size expansion.
Thus, the rising significance of sodium acetate in the global food processing sector can be validated from the aforementioned declarations. In fact, as per the research report compiled by Global Market Insights, Inc., food processing vertical accounted for more than USD 26 million of the revenue share of the total sodium acetate industry size in the year 2016.
The Asia Pacific region has indeed established itself as a profitable growth terrain for sodium acetate market stakeholders, as the expansion of numerous end-use verticals in this region has been much more pronounced when compared to other developing economies. For instance, sodium acetate is regarded as one of the most popular preservatives in Japan with the total demand for the chemical, as per reliable sources, being a humongous 3,500 tonnes. Apparently, such statistics demonstrate the necessity of sodium acetate across various verticals in the Asia Pacific region. For the record, Asia Pacific sodium acetate industry is estimated to have apportioned more than 55% of the total revenue share of this business space in 2016.
Elaborating further, it is quite imperative to mention that this multimillion-dollar business sphere is set to exhibit robust growth rate over the forthcoming years owing to the humongous deployment potential of sodium acetate – right from modest domestic uses to intricate chemical and industrial applications. In addition to this, the leading sodium acetate industry participants have been investing massively in vital research and development activities to strengthen their position in this swiftly emerging bulk and specialty chemicals vertical. Apparently, considering the aforementioned aspects, it quite undeniable that the sodium acetate market growth prospects appear to be substantially profitable in the ensuing years, with a target revenue of USD 220 million by 2024.
Author Name : Saif Ali Bepari
Wax market to chronicle itself in the multibillion dollar business space, heavy product demand from the candle manufacturing and cosmetics sectors to stimulate the industry growth over 2017-2024
The crux of business growth in recent times has been extensively attributed to the vast expanse of R&D programs. Wax market, in this regard, has also been experiencing a transformation, given that as a long-in-existence organic compound, wax has found massive applications in numerous end-use domains. A couple of years ago for instance, a research group from the Colorado State University published a study related to edible superhydrophobic coatings from FDA-approved carnauba and beeswax for the food packaging domain. Traditional wax like beeswax or tallow wax and synthetic wax like paraffin wax have been a part of the wax market landscape since its inception. However, now, with the increasing scarcity of fossil fuels, hydrogenated vegetable wax has also marked its debut in this business space. With the advancement of technology and increasing human endeavor for innovation, wax industry has depicted commendable progress through the product’s varied usage in packing, cosmetics and candle-making industries.
U.S. wax market size, by product, 2013 – 2024 (USD Million)
The candle-making industry has been one of the major and ancient drivers for wax market. While the traditional usage of candles as a chief source of light after sundown does not really exist anymore, the candle manufacturing sector still remains a multimillion dollar business. Aided by the presence of the internet and social media, the trend of manufacturing decorative and scented candles has taken shape, added a new dimension to the growth of the candle producing domain, which in consequence has impelled wax industry size from candle manufacturing. With the evolution of myriad candle types, candle manufacturing has witnessed numerous changes over the centuries. At present, candle manufacturers not only use paraffin and fossil-based wax but also synthetic, bio-based and natural wax, which adds to the multi-dimensional growth of wax industry.
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Besides candle manufacturing, the cosmetics domain also acts as a momentous driver for wax market. In a world that is becoming increasingly obsessed with self-image and beauty, cosmetics sector is set to witness massive growth in next few years, a factor that will positively impact wax industry share over 2017-2024. Rise in disposable incomes and an inclination toward beauty has spurred the demand for better skin and personal care products. Owing to drastically changing climatic conditions, consumers have also been demanding natural and ecofriendly cosmetics in the interest of health and environmental ramifications. These shifting trends, in consequence, will inevitably provide the much-needed boost to wax market expansion. Given how extensively wax is used in the manufacturing of lipsticks, mascaras, lip balms, lotions, eye pencils, and creams, the cosmetics and candle-making sectors are likely to vie with one another in terms of which domain would be most lucrative for impelling global wax market size.
It is prudent to mention that wax industry also receives significant stimulus through the use of wax in food packaging, since the product is an effective medium to create a protective barrier between food and deteriorating factors like moisture and humidity. It not only provides a preservative seal but also adds a glossy sheen on food items like fruits, nut seeds, and fertilizers. Wax coatings also help in delaying ripening, loss of internal moisture, and prolonging shelf life in general, thus expanding the scope of wax market from food packaging.
The FDA has approved the use of wax as an edible coating to be safe, non-toxic, and hypo-allergenic. In response, wax is majorly used to coat whole fruits like avocados, mangoes, pomegranates, melons, apples, and papayas and as a glazing agent for nuts. Indeed, this provides another growth avenue for wax market expansion from the food packaging domain.
Wax market is likely to face a major hindrance in the form of fluctuations in raw material supply and prices. With fossil fuels becoming scarce, wax products that depend solely on petroleum or crude oil for their production are becoming costlier. However, wax industry is rife with innovations related to the manufacture of synthetic waxes that use bio-based materials and are more eco-friendly than conventional wax products. With global economies becoming stronger by the day and the rising per capita income, wax market is estimated to garner significant profits over the ensuing years.
Author Name : Paroma Bhattacharya
Busbar market revenue to exceed the 20-billion-dollar frontier by 2024, driven by a paradigm shift towards renewable energy resources
The rapidly escalating demand for uninterrupted & reliable electricity in tandem with the rising trend of urbanization will stimulate busbar market size in the years ahead. A major shift from the traditional sources of energy toward renewable energy resources has been observed lately – a trend that has extensively contributed toward the growth of busbar industry. With the application of busbars increasing majorly across the commercial, residential, and industrial arenas, it is indeed undeniable that busbar market share will register a commendable CAGR over 2017-2024. The onslaught of modern technological changes and the need for increasing energy efficiency will lead to a general rise in the refurbishment of already established substations, further stimulating busbar market size.
Germany Busbar Market, By Power Range, 2016 & 2024 (USD Million)
The demand for electricity has witnessed an exponential upsurge in the emerging economies. In response, the governments these companies have been making it their priority to strive and provide electric power to all. It is thus rather overt that this would demand the necessity of busbars to ensure proper current flow between the power source and integrated circuits, capacitors and resistors, which would have a commendable impact on busbar industry size. Emerging economies have indeed become the focal point for exponential urbanization. Most of these urban centers harbor a population that exceeds several millions and are packed with high-rises, well lit roads and a lifestyle that requires extensive deployment of electricity. In consequence, this would have a commendable impact on busbar industry size.
Since busbars are depended upon for the reliable and long-term supply of electricity, the material of the busbar is a very important consideration. Due to its high conductivity, low electrical resistance, high mechanical strength, high resistance to fatigue failure and ease of fabrication, copper has been found to be a highly favorable material for the construction of a busbar, thereby impelling copper-based busbar market size. Aluminum comes as a close second as a favorable material for its cost effectiveness and easy availability. In 2016 alone, aluminum busbar market generated a revenue of over $3.5 billion. As compared to aluminum, copper has been found to be more advantageous to be used in busbars as most switches and terminals are made of copper and corrosion and jointing problems between dissimilar metals is greater than that between similar metals.
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Robust industrialization is a major factor fostering busbar industry growth. Statistics validating the aforementioned fact claim that in 2016, industrial applications accounted for 40% of the global busbar industry share. The use of busbars in industrial buildings has evidently been more advantageous than the use of traditional conduits and cables, as they are easier to install and easily adaptable to changing business needs. Refurbishment of already existing transmission grid and the replacement of cables with busbars due to their higher power distribution efficiency and space saving capabilities will also positively influence the busbar industry.
As far as refurbishment of existing gird network is concerned, U.S. and Europe have a pivotal share in busbar market, as government support for enhancing power efficiency in these regions has caused a major shift from use of cables to upgrading the power grid network. Evolving electrical product designs have also contributed toward the upgrading of the power grid network, consequently stimulated the busbar market size.
An instance of power grid upgradation and the commendable expansion of the busbar market can be credited to the implementation of energy transition plan in Germany called “Energiewende” that aims at producing 80% of Germany’s power through renewable energy resources. For this transition project, a large-scale upgradation of German substations is underway which will directly affect the regional busbar market. In the ensuing years, a rapid shift toward renewable energy sources is indeed inevitable across major end-use domains, which would undeniably drive global busbar market size over 2017-2024.
Author Name : Sunil Hebbalkar
Nutritional lipids market to accrue considerable gains from dietary supplement sales, rising popularity of omega-3 acid-based products to stimulate industry growth over 2017-2024
Endowed with decades of experience in research and development, leading giants in nutritional lipids market have lately been focusing on the strategies of product positioning and co-branding. By making substantial investments in co-branding programs, they seem to be looking forward to gaining more value in nutritional lipids industry by providing several consumer products to food & beverage manufacturers. In addition, in order to expand their reach in regional markets, many companies in nutritional lipids industry have been signing strategic partnerships with companies based in other prominent geographies. For instance, in 2017, the U.S. based provider of nutritional lipids, Avanti® Polar Lipid signed a distribution agreement with, MilliporeSigma, the global supplier of life science products, to expand its customer base across several geographies. Through this agreement, Avanti® Polar Lipid plans to launch a new e-commerce platform to attract more customers. Indeed, the efforts undertaken by leading firms and the increasing emergence of new entrants across myriad regions are thus slated to fuel nutritional lipids market share over the years ahead.
U.S. Nutritional Lipids Market, By Product, 2016 & 2024, (Kilotons)
The large-scale availability of new technologically advanced equipment has also been playing a major role in augmenting nutritional lipids market trends. Prior to the onset of novel technologies, players in nutritional lipids market faced several challenges related to the extraction of lipids from sources. One of the challenges also included high processing costs. In this regard, recently, the UK based company LabXero received funding from the UK government to build a new plant for the development of low-cost harvesting technology to extract omega-3 oil from microalgae. With the availability of new harvesting technologies, many nutritional suppliers are expected to soon commence the commercial production of omega-3 oils. Not to mention, omega-3 oils help enhance eye and brain health, on account of which food fortification and pharmaceutical companies have been prominently manufacturing omega-3 based products. This trend is likely to fuel omega-3 based nutritional lipids industry size, which in 2016, was pegged at USD 4 billion.
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Taking into account the importance of omega-3 nutrition for a healthy life, one of well-known producers of nutritional oils and powders for dietary supplements and foods, Stepan Company has taken suitable initiatives to leverage the production of omega-3 oils. At a major conference held at Washington recently, that witnessed the participation of many companies to showcase their latest product portfolio, Stepan’s Lipid Nutrition subsidiary demonstrated its broad range of Omega-3 products. Stepan’s products are primarily used in functional foods, food supplements, and infant nutrition. The increasing availability of such vastly beneficial products endowed with numerous health benefits is thus poised to boost nutritional lipids market outlook. Even in the United States, merely a few days back, one of the renowned food companies, Fairlife, added a new milk product with DHA omega-3 fatty acids in its portfolio.
Considering the competitive scenario of nutritional lipids market, it is pivotal to mention that the key players are prominently focusing on enhancing their supply chain, marketing, production, logistics, and R&D activities via strategic mergers and acquisitions. The efficient and quick implementation of business growth strategies is certain to lead to profitable outcomes for organizations as well as consumers over the years ahead. As per authentic estimates, by the end of 2024, nutritional lipids market will surpass a revenue collection of USD 15 billion.
Author Name : Sunil Hebbalkar