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Wednesday, March 24, 2021

Growth Outlook: Industrial Robotics Market Top Scenario, SWOT Analysis, Business Overview & Forecast 2027

The industrial robotics market is going to experience a negative impact in 2020. High investment cost is required to start a functioning of industrial robot in various end use industry which is predicted to hamper the market growth in the forecast period. Traditional Industrial Robot segment is predicted to have the maximum market share in the forecast period. Automotive segment is predicted to be the most profitable segment in the forecast period. Asia-Pacific region market is predicted to create more investment opportunity for the investors in the forecast period.

The market is predicted to witness a decline in 2020. High initial cost and use of refurbished industrial robots by many end use industries is predicted to hinder the market growth in the forecast period. Moreover, the market is predicted to recover from the pandemic by Q2/Q3 2022. The market is then predicted to grow due to increasing labor cost and inconveniences of small and local workforce in various places across the globe. The cost of employing and training worker cost too much for the company and the replacement cost of the labor is also very high. Due to which many end use industries are preferring setting up the industrial robot over the labor due to which it is predicted to drive the market in the forecast period. Advancement of industrial robots with artificial intelligence and machine learning is predicted to create more investment opportunity in the forecast period. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the industrial robotics market.

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Our report includes:
• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

according to a new report published by research dive, the global industrial robotics market is anticipated to generate a revenue of $85.2 million by 2026, at a cagr of 8.8% in the forecast time from 2019 to 2026.

The global market segmentation has been done on the basis of type, application, industry and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market.

• Factors Affecting the Market Growth

As per our analysts, cost reduction and improving quality of the manufactured product significantly is predicted to be the major driving factor for the market. However, huge installation costs and initial investment required for the setup of industrial robotics is predicted to hinder the market in the forecast period.

• Traditional Industrial Robot is Predicted to Have the Highest Market Share

Depending on the type, the overall industrial robot market is segmented into Traditional Industrial Robots and Collaborative Industrial Robots. Traditional industrial robot accounted for $26.8 million in 2018 and is predicted to grow at a CAGR of 8.0% in the forecast period. The traditional systems are priced low and are aid in reducing the human idle time and completes the task at the faster rate due to which most of the manufacturing units prefer traditional industrial robot which is predicted to boost the segment in the forecast period.

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• Assembling and Disassembling is Predicted to Have the Maximum Market Share

Depending on the application, the industrial robot market is classified into handling, assembling and disassembling, welding & soldering, dispensing and processing. Assembling and Disassembling segment was accounted for $14.7 million in 2018 and is predicted to grow at a CAGR of 7.1% in the forecast period. Most of the manufacturing unit prefers the industrial robots for assembling and dissembling as most of the work cannot be performed by the normal human being due to which It is predicted that the assembling and disassembling segment in the forecast period.

• Automotive Segment is Predicted to Have the Highest Market Share

Depending on the application, the industrial robot market is classified into automotive, electrical & electronics, metals & machinery, plastics, rubber & chemicals, food & beverage, precision engineering & optics, pharmaceuticals & cosmetics and others. Automotive segment was accounted for $10.4 million in 2018 and is predicted to grow at a CAGR of 7.8% in the forecast period. Increasing the output of the work with the help of industrial robot as compared to manual labor is predicted to boost the automotive segment in the forecast period.

• Regional Breakdown of the Market

Depending on the region, the industrial robotics market is segmented into North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific region market was accounted for $20.7 million in 2018 and is predicted to grow at a CAGR of 8.7% in the forecast period. Government imitative for adoption of industrial robot in various end use industry is predicted to boost the region market in the forecast period.

• Top Companies Leading the Market

The major key players in the industrial robotics market are Mitsubishi Electric Corporation, Yamaha Motor Co., Ltd., KUKA AG, Denso Corporation, Yaskawa Electric Corporation., Panasonic Corporation, Daihen Corporation, Kobelco Paint Robot and Kobe Steel Limited among others.

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Top Scenario: Smart Manufacturing Market by Key Vendors, Challenges and Opportunities 2027

Though the smart manufacturing market will be hit negatively by the Coronavirus pandemic, it will recover by the end of Q3 2023 and regain its growth. The services segment is anticipated to unlock rewarding growth opportunities, regardless of the COVID-19 disaster. The automotive segment is foreseen to dominate the global market. The Asia Pacific region is likely to show considerable growth during the forecast period. At present, the top market players are applying numerous strategies to withstand their business in this pandemic situation.

The outburst of coronavirus has created significant impact over various manufacturing industries all across the world. Though the smart manufacturing market will be hit negatively by the Coronavirus pandemic, it will recover by the end of Q3 2023 and is estimated to regain its growth in the market once the situation is under control. As per the advice given by the World Health Organization (WHO), maintaining social distance can help in preventing the spread of this life-threatening disease. Government bodies worldwide has imposed complete or partial lockdown across various regions, due to this various manufacturing industries such as electronics, automotive, and many others are considerably impacting the production processes of these companies. Additionally, interruption in continuation of activities and process due to lockdown is expected to cause loss and threats to the normal functioning of many industries. All these factors are significantly obstructing the growth of the smart manufacturing market during the COVID-19 pandemic.

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On the other hand, government bodies al across the world are taking initiatives to help the industries during this crisis period. For instance, the U.S. government has extended the federal tax dates from April 15 to July 15 to support the businesses in the COVID-19 pandemic. At present, many top industrialists are working on improving the performance and quality of their products to strengthen their effectiveness in the global industry. In the course of this COVID-19 pandemic, we are helping our clients in understanding the influence of COVID-19 on the global smart manufacturing market.

Our report comprises of:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

the global smart manufacturing market is projected to garner $303.0 billion by 2026 and grow at a cagr of 6.4% from 2019 to 2026, reveals a new report published by research dive.

The report segments the global market on the basis of component, end use, and region. This report presents thorough analysis of key drivers, opportunities, restraints, segmental analysis, and top players of the global market.

• Factors Influencing the Market

According to the report, rising preference for automated systems from various industries all over the world is considerably fueling the growth of the smart manufacturing market. However, huge investments required for the installation of these systems in initially stages is predicted to hamper the growth of the market.

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• Services Segment Expected to be Rewarding during Forecast Period

Based on component, the report classifies the global market into hardware, software, and services. Among these, the software segment is projected to surpass to $139.9 billion by 2026. This segment is anticipated to play a significant part in the effective maintenance and control of the automation process, and hence boost the growth of the global market.

• Automotive Segment to Lead the Market throughout Forecast Period

By end use, the report bifurcates the global market into aerospace & defense, automotive, chemicals, electrical & electronics, healthcare, petroleum, and others. Among these, the automotive segment grabbed 23.5% of the market share in 2018 and is expected to endure its growth during the estimated period. This is mainly because of the widespread use of advanced technical techniques in the automotive sector to cut down production expenses and improve the effectiveness.

• Regional Outlook of the Market

Regionally, the report evaluates the global market across North America, Europe, Asia-Pacific, and LAMEA. Among these, the Asia-Pacific market is estimated to garner $114.8 billion by 2026. This is mainly due to rising demand for the automation of the existing manufacturing processes in this region. On the other hand, the Europe market for is projected to grow at a highest growth rate of 7.3% and create significant growth opportunities all through the estimated period. This is mainly due to the growing demand for technically advanced manufacturing processes across numerous industrial verticals such as consumer electronics, automotive, manufacturing, and other.

• Leading Players of the Market

The leading companies in the global smart manufacturing market are Honeywell International Inc., GENERAL ELECTRIC, Schneider Electric, Siemens, Emerson Electric Co., FANUC CORPORATION and Rockwell Automation, Inc., and many others. These market players are undertaking activities including collaborations & partnerships, mergers and acquisitions, geographical expansions, and new product development to obtain a top position in the global industry.

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Industry Verticals: Air Compressor Market by Key Driver, Challenges and Opportunities 2027

The COVID-19 pandemic has hugely impacted the global air compressor market in a negative way. However, the market is expected to recover by Q1/Q2 of 2023. The noise pollution created by air compressors is anticipated to hinder the market growth during the forecast period. The key players of the market are implementing organic as well as in-organic strategies to offer lucrative opportunity to sustain in these unprecedented situations. For instance, Dearing Compressor & Pump Co. acquired Kruman Equipment Company to consolidate its air compressor product portfolio and related customer base.

The global air compressor market is likely to witness a decline in the growth rate due to the COVID-19 pandemic all over the world. According to a new research report published by Research Dive, the global air compressor market is estimated to surpass $39,884.6 million and grow at a CAGR of 3.4% during the period of forecast from 2019 to 2026.

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Though there is a decline in the growth rate, the market is projected to recover by the end of Q1/Q2 of 2023. Comprehensive analysis on drivers, growth opportunities, restraints, vital segments, and strategies implemented by major market players are further provided in the report to better understand the pandemic effect on the global industry.

• Key Features of the Market

– Our analysts stated that the cost-effectiveness of air compressors, availability of energy-efficient models, high operational feasibility, and wide-ranging adoption by various industries are the major factors boosting the growth of global air compressor market.

– The predicted market size of the air compressor industry post COVID-19 pandemic is $21,301.8 million in 2020, which is a drastic decline from $32,772.1 million before the pandemic situation.

– On the contrary, the significant scope of air compressors in multiple end-users for vacuum packaging, dehydration, air blowing, spray painting, healthcare equipment, tool powering, and cleaning is anticipated to sustain the market growth during the period of forecast.

• Sustaining in the Pandemic Situation

The major players of the global air compressor market include Emerson Electric Co., BAUER COMPRESSORS, INC., Air Squared, Inc., Gardner Denver, Danfoss, Sullair, LLC., Quincy Compressor., ZEN AIR TECH PRIVATE LIMITED., Hitachi, Ltd., and BOGE. These players are adopting both organic as well as in-organic strategies to grow exponentially during the forecast period.

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For instance, in February 2020, Sullair introduced its Perkins portable diesel air compressor. These compressors provide high performance and have excellent durability. In addition, the engine of compressor is turbo-charged, which helps to work efficiently in high altitudes.

In March 2020, the global air compressor manufacturer, Elgi Equipments announced that they will close all the facilities of the company due to COVID-19 chaos. Eventually, this has led to obstruct in demand for the air compressor, thereby restraining the market growth.

• Post-Pandemic Scenario

As per the report, the global air compressor market is anticipated to experience an impressive growth post-COVID-19 pandemic. The growing demand from various industries all across the globe will be a major factor propelling the market growth during the forecast period. In addition, effective operational activities at affordable cost, low operative and maintenance costs, and retrofitting of present systems are other factors contributing to the growth of the market during after COVID-19 pandemic.

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Development Trends: Aerospace 3D Printing Market by Top Key Players, Applications and Forecast to 2020-2027

The sudden outbreak of COVID-19 has imposed a partially negative impact on the growth of the global aerospace 3D printing market. The market is expected to recuperate from the losses suffered during this pandemic by the third or fourth quarter of 2022. Shutdown of airplane services during this pandemic period is severely hampering the growth of the market. The market is expected to experience significant growth after the resumption of the aerospace industry post-COVID-19 crisis.

Research Dive presents a new research report on the global aerospace 3D printing market which elucidates the impact of COVID-19 pandemic on the present and future growth of the market. This report is an exhaustive research drafted by market analysts by evaluating key booming factors, major regional market situations, restraints, and trends & developments in the market amidst the COVID-19 crisis.

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• Key Statistics of the Report:

– The aerospace 3D printing market has witnessed substantial growth in the past years, however, the abrupt rise of the Coronavirus pandemic has considerably affected the growth of the market.

– As per the report, the global aerospace 3D printing market was accounted at $887.9 million in 2018 and is anticipated to gather a revenue of $5,229.4 million by 2026, rising at a striking growth rate of 24.6% in the next few years.

– In the current condition, the market has managed to collect a revenue of $780.9 million which is less than the predicted revenue, due to the shutdown of airplane services during the lockdown. Researchers have projected that the market is likely to recover from the incurred losses and grow considerably by the third or fourth quarter of 2022.

• Factors Hampering the Market Growth amidst Covid-19 Pandemic

The enforcement of lockdown and restriction on travel services has caused a severe threat to the growth of the global aerospace 3D printing market in 2020. However, the market is expected to experience significant growth after the resumption of airplane services, post-COVID-19 pandemic.

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• Current Market Transformation Due to Covid-19:

In the course of this crisis period, companies are implementing various business tactics to survive their businesses. 3D printing manufacturers are investing in new technologies that will considerably reform the industry amidst and post Covid-19 pandemic. Several leading companies in this sector are offering a helping hand in the production of protective equipment, face shields, and ventilator to fight against this deadly virus. For instance, Airbus, the world’s largest aircraft manufacturer has taken an initiative to produce 3D printed visor frames for providing healthcare professionals with individual protection equipment as a safety measure to combat COVID-19.

Moreover, nearly 78,000 men and women from Collins Aerospace and about 70 3D printers from Raytheon Technologies global locations have joined hands to manufacture face shield headbands. Some of the foremost market players functioning in the aerospace 3D printing market include Arcam AB, 3D System Corporation, EOS GmbH, Aerojet Rocketdyne, Norsk Titanium, Envisiontec GmbH, Ultimaker B.V., MTU Aero Enginess AG, Materialise NV, Hoganas AB, and others.

• Post-pandemic Market Insights:

At this moment in time, the market is experiencing a downfall in its growth rate, however, by 2022, the market is likely to undergo additional growth due to the growing demand for lightweight aerospace components. This growth will be mainly driven by a downfall in the supply of aerospace parts and the potential of 3D printing technology to produce complex parts related to the aerospace sector. Hence, the market is expected to recover after the end of COVID-19 pandemic and grow significantly in the upcoming years.

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Industry Verticals: Therapeutic Obstructive Sleep Apnea Device Market Set For Rapid Growth & Trend, By 2027

global market was valued at $ 4,661.6 million in 2018 and is expected to reach of $ 9,561.3 million by 2026, growing at a cagr of 9.6% over the forecast period.

Obstructive sleep apnea is caused due to the blockage of the airways. This happens during sleep when the tongue folds with the soft palate and stops the air to pass on against the throat. It is being estimated that most of the mid age population tends to experience obstructive sleep apnea more than 5 times in half an hour.

Increasing number of cases in the sleep apnea is expected to drive the market for the therapeutic obstructive sleep apnea devices. It has been estimated that, around 80% of the patient who are suffering from obstructive sleep apnea are not being treated. The ratio between the total number of patients facing the obstructive sleep apnea and the patient who is being diagnosed is very minimal, so rising awareness among the patient can lead to the growth of the therapeutic obstructive sleep apnea market. Lack of awareness regarding the effects caused due to the obstructive sleep apnea such as, high blood pressure, diabetes, obesity and sometime the death of the patient may occur due to negligence and unawareness. Government initiative to raise the awareness among the people and the advanced technologies expected to give a boost to the overall obstructive sleep apnea therapeutic devices market.

The main reason for dissension of therapeutic obstructive sleep apnea devices is due to the lack of acceptance from the patients, this is mainly due to the discomfort and anxiety caused by the mask. The cost of therapeutic obstructive sleep apnea devices market is very high as compared to the other sleep apnea disease. The cost is the main constraint for the increase of the therapeutic obstructive sleep apnea devices market.

Depending on the type the positive airway pressure segment held the largest market size in 2018 for $2,187.8 million and is expected to reach $4,542.3 million by 2026, at a CAGR of 9.7%. Positive airways reduce the sleep apnea occurrence and protect the airways from closing. The oral application is estimated to grow at 9.5% CAGR by generating revenue by $1,768.2 million by 2026. It is expected to offer patient with greater satisfaction. Oral applications are portable, flexible and easy to use, so American Academy of Sleep Medicine (AASM) suggested to wear oral application with severe obstructive sleep apnea, who cannot wear and use positive airway pressure.

Due to the rising number of hospitals and growing investment in healthcare the hospitals and sleep laboratories segment is anticipated to drive the market over the forecast period. Hospitals and sleep laboratories segment accounted for $2,569.3 million in 2018 and is expected to rise at a CAGR of 9.4% in the forecast period.

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North America holds the largest market share for the therapeutic obstructive sleep apnea devices market. This region registered 10.2% CAGR and is anticipated to generate a revenue of $3,970.7 million by 2026. The Asia-Pacific is the largest growing market for the therapeutic obstructive sleep apnea devices as most of the Asian countries are not developed in the medical facilities and are unaware of the therapeutic obstructive sleep apnea devices. It is projected that the region sleep apnea devices market is expected to grow at $1,777.7 million by 2026 at a CAGR of 9.0%.

The major key players in the therapeutic obstructive sleep apnea devices market are Invacare Corporation GE Healthcare, Compumedics Limited, BMC Medical Co., Fisher & Paykel Healthcare, Cadwell Laboratories Inc., Ltd, Braebon Medical Corporation, Becton Dickinson (CareFusion Corporation), Curative Medical Inc., ImThera Medical, Inc.

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Development Trends: Breast Implant Market Sees Promising Growth in 2020

breast implant market size will exceed $4.9 billion by 2026, growing at a cagr of over 10.3% from 2019 to 2026; according to a new research study by research dive.

An increase in the number of breast augmentation processes, along with the rise in breast cancer incidences across the world will significantly drive the global breast implant market size over the forecast period. The breast augmentation processes enable women to improve their breast size, and also to improve their hip contour balance. These are also called as reconstruction procedures, which help to restore the breasts’ size to near normal size. They also help in improving the appearance of the breasts. Rapid growth in these procedures will significantly spur the global breast implant market growth during the projected timeline.

Rapid growth in the incidences of breast cancer across the world will boost the growth of breast implant market growth in the coming years. As a result of this, the majority women are preferring mastectomy procedures during their breast cancer treatment.

However, the high cost of implantation procedures, coupled with the rising implications post-surgeries will impede the breast implant market growth.

The silicone breast implant market size held the largest share in 2018 and is projected to grow at a CAGR of over 10.2% over the projected timeframe. The dominant market size is expected throughout the forecast period, owing to the product’s capability to look natural. Some of the other benefits such as reduced wrinkling will further provide a significant boost to product adoption.

The breast implant market for reconstruction procedure will increase at a CAGR of more than 10.7% during the projected period. This is majorly due to the increasing incidences of breast cancer, and also to avoid them. An increase in awareness about reconstruction surgery to overcome the cancer incidences has resulted in significant growth in procedure adoption.

The majority of the patients are preferring clinics as their place of surgery. This is majorly due to the presence of skilled professionals, coupled with the less cost associated with the comparison with the hospital sector. Breast implant procedures in clinics will grow at a CAGR of over 9.8% during the projected period. Expanding infrastructure in the healthcare sector in the emerging economies will further enhance the market growth. This segment will further grow on account of the availability of skilled plastic surgeons in the clinics.

Covid-19 Impact on Revenue by Region

North America market held a significant market share in 2018 and accounted for more than 40% in 2018. An increase in the number of the female population preferring the augmentation procedures will further drive the market growth. Growth in per capita expenditure, coupled with the rise in disposable income will further serve to be one of the high impacting factors for the growth of North America breast implant market growth.

The Asia-Pacific market is projected to witness a robust growth at 11.0% CAGR during the forecast period. The rise in the number of hospitals and clinics offering plastic surgery procedures, coupled with the increase in the number of plastic surgeons in this region will enhance the regional market growth during the coming years.

Some of the prominent companies in the global breast implant market include GC Aesthetics, Allergan, Mentor Worldwide LLC, Laboratoires Arion, Groupe Sebbin, Hansbiomed Co. Ltd., Sientra Inc., Silimed, Groupe Sebbin SAS, and CEREPLAS among many others. Some of the strategies preferred by the operating companies are product development and acquisitions.

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Emerging Trends: Autotransfusion Devices Market Scope by Demand, Trends to Expand Significantly by 2027

There are several reasons a person might need to undergo blood transfusion treatment. It may be a severe liver infection that affects the person’s capacity of producing blood or an infection that causes anemia, such as kidney disorder or cancer. Moreover, in cases of accident, a person might experience serious internal bleeding which requires substituting the lost blood with fresh donor blood, but this is not always possible. In urban locations or the areas that have an absence of healthcare services, donor blood

may not be available always.

according to a recent report published by research dive, titled, “autotransfusion devices market by type, and application: global opportunity analysis and industry forecast, 2018-2027,” the global autotransfusion devices market size was $1,121.5 million in 2018, and is anticipated to reach $1,939.7 million by 2027, at 6.5% cagr from
2019 to 2027.

The North America regional market dominates the global market, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global autotransfusion devices market share in 2018, and is expected to grow at a significant rate during the forecast period.

Autotransfusion is a process wherein a person receives their own blood for a transfusion, instead of banked allogenic (separate-donor) blood. There are two main kinds of autotransfusion: Blood can be autologously “pre-donated” (termed so despite “donation” not typically referring to giving to one’s self) before a surgery, or alternatively, it can be collected during and after the surgery using an intraoperative blood salvage device (such as a Cell Saver or CATS). The latter form of autotransfusion is utilized in surgeries where there is expected a large volume blood loss – e.g. aneurysm, total joint replacement, and spinal surgeries. The device used for autotransfusion is called autotransfusion devices. Presently, many surgeons utilize autotransfusion innovatively such as with a cell processing step which not only is efficient and less time consuming but also enables the patient to have safe blood transfusion. Moreover changing lifestyles coupled with the increasing obesity amongst the masses has resulted in increased chances of having cardiac diseases which has prompted the growth of Autotransfusion devices.

Covid-19 Impact on Revenue by Region

High occurrence of cardiac diseases leads to the huge demand of auto-transfusion device across the world. Furthermore, absence of any risk of transfusion or transmitted infections is boosting the growth for autotransfusion devices globally. On the contrary, inability to separate contaminants from blood is expected to be a major restraint for autotransfusion devices market. On the other hand, growing Adoption of whole body autotransfusion devices.

Off-Pump Autotransfusion devices holds the highest market share amongst the product type segment and is expected to grow with a CAGR of 6.6% during the forecast period
2019-2027. The driving factor for off-pump transfusion is the device usage ease, coupled with no blood loss feature during the transfusion process. Major trends in the off- pump transfusion is its efficacy and the fact that off-pump transfusion have much lower post-operative morbidity and mortality especially in high risk patients.

Amongst the end use segment, Hospital segment holds the largest market share and is expected to grow at CAGR of 6.6% during the forecast period. This primarily because, the hospitals have specialized departments wherein blood transfusion is required as such the autotransfusion devices are required in multiple numbers to cater to various transfusion requirements of specialized diseases in various department.

North America has the highest market share for autotransfusion device globally and is expected to grow at a healthy rate of 6.4% over the forecast period. U.S, hold the majority of the share of the North America market and it is one of the leading countries globally. As the regulatory standards regarding transfusion are quite stringent in U.S., companies are investing a lot on Research & Development for approvals of commercial sale of Autotransfusion device and therefore they are focused on quality and innovative products so as to efficiently handle the process and edge ahead of competitors, thus driving the growth of Autotransfusion device in the country.

One of the prominent players in autotransfusion devices market viz., Medtronic plc announced it has received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for its Personalized Closed Loop (PCL) insulin pump system, currently in development. The PCL technology is designed to automate insulin delivery in a way that is real-time, personalized and adapts to the user. The system will also provide insights and predictive diagnostics unique to the individual, with a goal of dramatically simplifying diabetes management for the patient. The recent acquisition of Nutrino Health and their expertise in nutrition data science will play a key role in the accelerated development of this breakthrough technology. Zimmer Biomet Holding, Becton Dickinson and Company, LivaNova, Plc, Teleflex Incorporated, Stryker Corporation, Fresenius Medical Care AG & Co. KGaA, Terumo Corporation, Haemonetics Corporation and Getinge AB.

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Opportunities: Animal Parasiticides Market Expand their Businesses with New Investments

according to a new report published by research dive, the global animal parasiticide market forecast will be $7,082.2 million by 2026, rising from $5,096.0 million in 2018, and at 4.2% cagr.

The significant animal parasiticide market drivers; are increasing the adoption of pet animal’s and awareness about the importance of parasiticide products to prevent zoonotic diseases. Increasing knowledge among the people about livestock and livestock healthcare, rising the concerns to control of zoonotic diseases in the animals and livestock is anticipated to lead the market growth in the future time. Additionally, increasing investments to develop improved parasiticide products for veterinary healthcare and rise in the expenditure on animal healthcare are further enhancing the animal parasiticide market growth in a positive manner. Parasiticide product cost and heavy R&D investments are projected to hamper the global animal parasiticide market. Animal parasiticide market advancements and rise in the government implementations to prevent the animal and livestock health are expected to generate major opportunities for the new entrants into the market in the coming years.

Ectoparasiticide type market will witness a significant growth and is estimated to generate a revenue of $1,678.5 million, at a 4.6% CAGR over projected period. The rise in the demand of ectoparasiticides type to prevent or control parasite insects in animals is anticipated to boost the market growth in the coming years. Endectocides type dominated the global animal parasiticide market, it is registered for $2,293.2 million in 2018, and is projected to account for $3,109.1 million by the end of 2026. This is due to endectocides are major veterinary parasiticide that are used for the treatment of arthropods and nematodes insects affecting animals. Additionally, increase the use of endectocides to minimize parasites diversity is expected to drive the animal parasiticide market in the projected period.

The companion animals segment is expected to experience the substantial growth, it is estimated to register of $2,323.0 million, growing at a highest rate of 4.5% in the projected time frame. This is owing to the growing requirements from pet owners and veterinary centers to prevent or treat animals from the zoonotic diseases. Additionally, rise in the animal healthcare expenditure and number of pet owners are expected to enhance the animal parasiticide market over forecast timeframe. The farm animals segment has registered the highest animal parasiticide market share of 68.0% in 2018, and is estimated to generate revenue of $4,759.3 million, growing at 4.0% CAGR over projected period. This growth is attributed to high quantity requirement of parasiticides, due to huge quantity of farm animals present across the globe.

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Covid-19 Impact on Revenue by Region

Asia-Pacific market is projected witness a noteworthy growth rate, it is projected to account for $ 1,614.8 million and at a CAGR of 4.7% in the projected time period, owing to upsurge in the adoption of animals, and increase in the product demand from the quality meat consumers across the region. Additionally, rising awareness about the importance of parasiticides to control the diseases will further drive the market growth in the coming years. North America market is accounted for the highest animal parasiticide market size of $1,885.5 million in 2018, it is estimated to register of $2,556.7 million and at a 3.9% CAGR, owing to rising interest of pet animals owning among the people.

Elanco, Boehringer Ingelheim animal Health, Ceva Santé Animale, Vetoquinol, Eli Lilly, Bayer AG Zoetis Inc., Sanofi, Merck Co., and Perrigo Company Plc, are some of the animal parasiticide market players. These manufacturers are accepting the key approaches such as product infections, collaboration and partnerships in order to rise their market size in the global animal parasiticide market. For example, in September 2019, Zoetis Inc. presented positive effectiveness of triple combination of parasiticide at American Heartworm Society Meeting, which is useful for preventing animals from heartworm disease and to control and treat of fleas, intestinal and ticks in dogs.

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In-Depth Analysis: Intrathecal Drug Delivery System Market : Huge Growth Opportunities, Trends and Forecast to 2027

Since ages, anesthetists have been using the intrathecal (IT) space to provide optimum anesthesia and analgesia. Especially, to help patients bear the pain during the operative period, and also for postoperative pain relief. Cancer pain can arise due to a tumor compressing or infiltrating tissue. In addition to this, pain occurs in 67% of the patients with metastatic cancer. Treatments such as chemotherapy, radiations, and surgery might give rise to painful conditions that continue for a longer duration, even after the treatment is completed. Hence, the method using intrathecal drug delivery system is been considered more beneficial and efficient as compared to the other methods.

according to a study of research dive, intrathecal drug delivery system market forecast shall surpass $1662 million by 2027, registering a cagr of 7.2% from 2019 to 2027.

Intrathecal drugs delivery (IDD) system plays the important role in the treatments of intractable (uncontrollable) pain. IDD system utilized for selected patients which are associated with major reduction in quality of health and that have not options of other treatment. This treatment requires highly specialized team for ensuring appropriate selection along with the safety criteria.

IDD enables therapist to formulate individualized treatment regimens which can provide improved analgesia with small doses coupled with fewer adverse effects over opioid-based therapies.

The major factors that boost the global intrathecal drug delivery system market growth are rising demand for intrathecal drug delivery system for cancer pain. In addition, surge in cost-effective cancer pain treatment using such systems are expected to boost the market growth during the forecast period. However, complications of ITDD systems hamper the growth of the intrathecal drug delivery system market.

Externalized and Connected with a pump holds the highest market share amongst the product type segment and is expected to register revenue of $1,358.6 million during the forecast period 2020-2027 at a CAGR of 6.8%. Externalized and connected with a pump is used in situations wherein there’s frequent need of change of catheter such as those who are suffering from cancer. They are in trend as they are cost effective compared to fully implanted systems.

These pumps have proved to be very effective for cancer pain and have been use since the last 3-4 decades and they are still in use as fully implanted systems are still in R&D phase and are not use in major developing countries.

Amongst the Application segment, Spasticity Management for intrathecal drug delivery system market size, generating revenue of $635.1 million in 2018, and is expected to grow at CAGR of 7.1% registering revenue of $1,140.2 million by 2027. ITDD devices are mostly used for spasticity management and with advent of programmable system the spasticity can be managed by controlling the flow of drug delivery. They are majorly used in European countries like Belgium, Germany, UK and others. These systems have opportunities in the developing countries wherein the spasticity problems are more pronounced.

North America has the highest Intrathecal drug delivery system market share globally and is expected to register revenue of $695.9 million growing at a healthy rate of 7.4% over the forecast period. Due to ease usage which signifies better control and long lasting nature of the Intrathecal devices North America market has highest market share for implanted Intrathecal drug device Therefore, it is one of the significant factor for growth of Intrathecal drug devices market.

U.S, hold the majority of the share of the North America market and it is one of the leading countries globally. Companies are spending heavily on research & Development activities, in order to provide innovative and effective pain management solution thereby driving the growth of Intrathecal Drug delivery systems in the country.

Prominent players in Intrathecal Drug Delivery Systems are Medtronic plc is one of the potential manufacturers of programmable intrathecal drug Delivery Systems has successfully launched the Medtronic SynchroMed II (drug infusion pump), which is utilized to deliver drug into a patient’s body. The pump is used together with a catheter to deliver a specific drug to the patient’s spinal fluid. Other major players include Flownix Medical Inc, Teleflex Incorporated, DePay Synthes, Tricumed Medizintechnik GmbH, Smiths Group Plc, Summit Medical Group, B Braun Melsungen AG, Becton, Dickinson & Company and Fresenius Medical Care AG & Co. KGaA.

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