Author: Fairfield Consultancy Services

The Transparent Conductive Films Market has experienced significant growth in recent years and is projected to continue its upward trajectory during the forecast period. According to a market report, the market size for Transparent Conductive Films was valued at USD 5182.4 million in 2021, with a projected Compound Annual Growth Rate (CAGR) of 10.5 percent over the forecast period.

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Transparent Conductive Films are thin films composed of optically transparent and electrically conducting materials, with indium tin oxide being the predominant material used to generate these films. They find applications in various optoelectronic devices such as touchscreens, LCDs, OLEDs, electrochromic glass, and solar panels.

The growing use of Transparent Conductive Films in the photovoltaic industry has been a major driver for market expansion. The increasing production of touch-enabled devices, especially in regions like China and Japan, coupled with the low power consumption feature of these films, has further propelled market growth. Factors such as falling smartphone prices, rising customer preference for touch-based user interfaces, and the advantages of transparency, flexibility, and robustness offered by these films have also contributed to the markets expansion.

One of the significant developments in the market was the Joint Development Agreement signed between Canatu and DENSO in June 2021. This collaboration aimed to enhance Canatus film production productivity. Similarly, Canatus partnership with TS TECH in October 2020 aimed to combine their technologies for creating innovative products with user-friendly interfaces.

While the market for Transparent Conductive Films is witnessing strong growth, it has not been without challenges. The COVID-19 pandemic had a significant impact on the electronics and semiconductor industries, disrupting supply chains and affecting businesses worldwide. However, the market is expected to rebound as the global situation improves.

Smartphones are the dominant application segment for Transparent Conductive Films, fueled by the rising adoption of smartphones worldwide. Governments initiatives and incentives for domestic smartphone production have also contributed to market growth.

Asia-Pacific has emerged as the leading region in the Transparent Conductive Films market, primarily driven by the booming automotive and solar power industries in the region. North America is also expected to witness significant growth due to the expanding electrical and electronics industry and increasing demand for smartphones.

Prominent players in the Transparent Conductive Films market include Teijin Ltd, Toyobo Co., Ltd, C3Nano, TDK Corporation, Canatu Oy, Nitto Denko Corporation, Gunze, Cambrios Technologies Corporation, Dontech Inc., and Blue Nano Inc.

With the continued surge in smart device usage and advancements in optoelectronic technologies, the Transparent Conductive Films Market is poised to witness sustained growth in the coming years.

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COMTEX_438007176/2840/2023-08-08T07:36:54

The global active electronic components market has achieved a significant milestone, surpassing US$300 billion in revenue by the end of 2029. This remarkable growth, with a steady compound annual growth rate (CAGR) of over 8% since 2021, is primarily driven by the escalating demand from the electronics and automotive industries.

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Growing Demand from Electronics and Automotive Industries

Active electronic components play a pivotal role in powering telecom equipment, networking devices, and consumer electronics like smartphones and laptops. The rapid growth in consumer electronics demand is a major driver behind the markets expansion. Moreover, the implementation of next-generation 5G infrastructure in developing countries, such as India, is driving the need for new IT and telecom equipment, further boosting the adoption of active electronic components.

Automotive Industrys Embrace of Automation and Electric Vehicles (EVs)

The automotive industrys increasing focus on automation and the adoption of electric vehicles (EVs) is also contributing to the markets growth. Active electronic components, including driver assistance systems, power-integrated devices, telematics, and GPS, are essential in enhancing the efficiency and functionality of modern vehicles. As the demand for electric cars rises, the adoption of active electronic components is expected to increase, given their extensive usage in EVs and autonomous vehicles.

Growing Ubiquity of Connected Technology-enabled Devices

The growing ubiquity of connected technology-enabled devices is accelerating the expansion of the active electronic components market. Manufacturers are leveraging digital technology to streamline operations, leading to improved productivity and operational efficiency in industrial automation. As Industry 4.0 evolves, the deployment of connected devices across manufacturing facilities is expected to drive the markets growth in the coming years.

Challenges and Opportunities

Despite the positive growth outlook, the market faces challenges related to fluctuating raw material prices and high production costs. However, the dominance of semiconductor devices in the market, characterized by continuous product innovation and the demand for energy-efficient systems, continues to drive the markets upward trajectory.

Asia Pacific Reigning Supreme

The Asia Pacific region remains at the forefront of the active electronic components market, boasting the largest consumer electronics hub globally. Major manufacturers like Samsung Electronics, Xiaomi Corporation, and BBK electronics (including brands such as Vivo, Oppo, and Realme) significantly contribute to the regions market growth. Additionally, emerging countries like India and China are witnessing a surge in demand for industrial automated systems, further driving the markets expansion.

Stable Revenue Growth in North America

In North America, stable revenue growth is projected, driven by the increasing demand for connected cars, investments in 5G networks by major telecom giants, and government initiatives towards smart cities and renewable energy resources.

Market Key Players

Key players in the active electronic components market include Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments, Inc., Toshiba Corp., Intel Corp., Maxim Integrated, Broadcom, Inc., Qualcomm, Inc., Analog Devices, Inc., Advanced Micro Devices, Microchip Technology, Inc., and Monolithic Power Systems, Inc. and others.

As the global active electronic components market continues its upward trajectory, industry players are well-positioned to capitalize on the escalating demand from the electronics and automotive sectors. With a focus on innovation and strategic partnerships, the market is set to evolve and meet the ever-changing needs of the connected world.

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COMTEX_437969565/2840/2023-08-07T13:52:11

The global cochlear implant systems market is experiencing remarkable growth as the prevalence of hearing loss escalates across the globe. Recent studies have shown a significant increase in hearing impairment cases in recent years, affecting individuals of all ages. Notably, children are particularly susceptible to single-sided deafness (SSD) due to various factors like genetics, ear injuries, and infections. This growing prevalence has led to a rising demand for cochlear implants, propelling the market forward.

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Addressing Congenital Hearing Loss Among Newborns

Early Intervention through Cochlear Implants Supports Speech and Language Development

The burden of congenital hearing loss among newborns has further contributed to the popularity of cochlear implants as an early intervention to support speech and language development. With every newborn baby facing the risk of hearing damage under congenital hearing loss, cochlear implants have emerged as a vital solution to mitigate the impact of hearing loss and support childrens development.

Government and Non-Governmental Initiatives Foster Collaboration

ACI Alliance Members Present Research to Boost Cochlear Implantation Practices

Government and non-governmental initiatives have been actively supporting cochlear implantation research and clinical practices, fostering collaboration within the audiological community. Notable events like the 2022 American Academy of Audiology (AAA) conference provided a platform for ACI Alliance members to present their research and contribute to the growth of the cochlear implant systems market.

Rising Geriatric Population Drives Demand

Age-Related Hearing Loss Spurs Adoption of Advanced Hearing Solutions

The increasing prevalence of hearing loss, combined with the rising geriatric population, is expected to heavily contribute to the growth of the cochlear implant systems market. The World Health Organization (WHO) projects that the elderly population will reach 1.4 billion by 2050, emphasizing the need for advanced hearing solutions like cochlear implants to address age-related hearing loss.

Impact of COVID-19 and Technological Innovations

Telemedicine Solutions and Remote Assessments Support Patients during Pandemic

The COVID-19 outbreak initially impacted cochlear-implanted patients seeking rehabilitation and experiencing technical difficulties. However, with the adoption of telemedicine solutions and remote check assessments, the market is showing signs of recovery. Key players in the industry, including Cochlear Ltd. and Oticon Medical, have introduced telehealth patient assessment tools for remote monitoring and assessment of cochlear implant wearers.

Pressing Forward Amid Challenges

Stringent Approval Procedures and High Surgery Costs Dont Dampen Market Growth

Despite challenges such as stringent approval procedures and high surgery costs, the cochlear implant systems market continues to thrive. Hospitals and clinics play a significant role in generating the maximum demand for cochlear implant systems, and industry players are actively investing in research and development to introduce more innovative products.

Continued Market Leadership and Steady Growth

North America Leads the Charge, while Asia Pacific Witnesses Steady Revenue Increase

The North American market remains at the forefront of the global cochlear implant systems market, driven by favorable approval processes and technological advancements. Meanwhile, the Asia Pacific region is expected to exhibit stable revenue growth, driven by a rapidly growing geriatric population and increasing awareness about hearing aids and cochlear implants.

Enhancing Lives with Better Hearing Solutions

Cochlear Implants Transform Lives, Offering Hope and Improved Quality of Life

As the market continues to expand, individuals with hearing impairments can look forward to improved clinical outcomes and a higher quality of life, thanks to the advancements in cochlear implant technology and the efforts of the key players in the industry. Cochlear implant systems are playing a pivotal role in transforming the lives of those affected by hearing loss, providing hope and opportunities for a better future.

Browse Cochlear Implant Systems Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: https://www.fairfieldmarketresearch.com/report/cochlear-implant-systems-market

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COMTEX_437969764/2840/2023-08-07T13:55:26

The global emergency stop switches market is set to experience a promising growth curve in the short-term outlook. The markets expansion will be driven by the increasing adoption of automation across various industries and the rising demand for emergency stop switches in industrial applications such as factory automation, process automation, and logistics automation. As governments focus on raising safety standards and requirements in manufacturing, mining, and construction sectors, the demand for emergency stop switches is expected to soar.

Read More: http://xherald.com/news/allulose-market-emerging-markets-and-growth-opportunities-2023-2030/

Automation Adoption Fuels Market Growth

The escalating adoption of automation in different industries will be a significant driver for the emergency stop switches market. As industries increasingly turn to automation to enhance performance and increase production capacity, the need for reliable safety measures becomes crucial. Emergency stop switches play a vital role in preventing workplace accidents and ensuring worker safety, thereby supporting the markets growth.

COVID-19 Impact and Market Recovery

The COVID-19 pandemic temporarily affected the emergency stop switches market due to reduced demand from the manufacturing and construction sectors, which faced lockdown restrictions imposed by governments worldwide. However, as economies gradually recover and resume normal operations, the market is expected to rebound. The implementation of strict government regulations on workplace safety will further drive the demand for emergency stop switches in various industries.

Technological Advancements Drive Demand

The increasing use of cutting-edge technologies in industrial equipment management will boost the demand for emergency stop switches. Advancements like wireless emergency stop switches and Internet of Things (IoT) integration will provide enhanced safety features for automated systems, ensuring that workers are protected from dangerous areas during operation.

Challenges in Market Growth

Despite the positive growth prospects, the complexity of safety designs and a lack of awareness of safety standards among end-users may pose challenges to market expansion. Additionally, poor equipment maintenance and automation features can limit the growth of the emergency stop switches market.

Dominant Categories and Regional Outlook

The null line and live line categories are expected to dominate the emergency stop switches market due to their grounding properties and voltage regulation capabilities. Elevators will remain the dominant category in the market, driven by stringent safety laws and regulations in urban settings.

North America and Asia Pacific Lead Market Revenue

North America is expected to lead the global emergency stop switches market in terms of revenue. The regions expansion can be attributed to the growing transportation, food processing, and medical device industries, as well as the adoption of safety regulations in commercial and industrial sectors. The Asia Pacific market is also projected to experience steady revenue growth, driven by the construction industry and expanding sectors in food processing, automotive, healthcare, and electronics.

Competitive Landscape

Key players in the emergency stop switches market, such as Eaton Corporation Inc., EAO Corporation, Schneider Electric SE, Siemens AG, and others, are focused on developing innovative and highly effective switches to meet strict safety regulations. With the growing demand for safety sensors and increasing implementation of technology, the market is expected to witness further expansion.

The global emergency stop switches market holds significant potential, driven by the rising focus on workplace safety and automation across industries. As economies recover from the pandemic, the market is expected to regain momentum and witness sustained growth.

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COMTEX_437966404/2840/2023-08-07T12:33:44

The global wheelchairs market is experiencing significant growth, driven by the rising rate of disabilities and the mushrooming geriatric population. In addition, technological advancements and the increasing number of healthcare facilities have further fueled the demand for wheelchairs worldwide.

According to the World Health Organizations 2021 report, over 1 billion individuals suffer from some form of disability globally each year. Moreover, the Free Wheelchair Mission (FWM) estimates that around 70 million individuals worldwide require the support of wheelchairs. To address this need, FWM has been striving to distribute over 1 million wheelchairs since 2001 and aims to double the count by 2025, playing a crucial role in driving the growth of the wheelchairs market.

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Medical emergencies, including industrial accidents, natural calamities, fire breakouts, and outdoor accidents, have also contributed to the increased demand for wheelchairs in healthcare facilities, especially hospitals, further boosting their sales on a global scale.

The growing geriatric population has emerged as another key factor bolstering the wheelchairs market. With aging individuals being more prone to disabilities such as spinal cord injuries, muscle weakening, knee and joint problems, and other mobility challenges, the healthcare expenditure for investing in assisting devices such as wheelchairs for the elderly has risen significantly. According to the Organization for Economic Cooperation and Development Health, healthcare expenditure is projected to grow by 14% by the end of 2060.

Technological advancements have been a driving force behind the evolution of the wheelchairs market. Manufacturers are leveraging technologies like Artificial Intelligence (AI) to develop advanced wheelchairs that offer improved comfort, convenience, and mobility. For instance, the introduction of CoMoveIT Smart, a wheelchair that uses AI and sensors to recognize involuntary movements of users, demonstrates the positive disruptions technology is bringing to the market.

Among various types of wheelchairs, powered wheelchairs are anticipated to witness a substantial increase in demand, surpassing their manual counterparts. The functional benefits and operational advantages, such as ease of use and control with minimal efforts, along with lightweight, flexible design, and long service life, are driving the demand for powered wheelchairs.

North America is expected to dominate the wheelchairs market, with rising government support, superior healthcare infrastructure, and a strong technological presence facilitating the development of advanced wheelchairs in the region.

Several key players are contributing to the growth of the wheelchairs market, including Invacare Corporation, GF Health Products Inc., Carex Health Brands, Pride Mobility Products Corp, Sunrise Medical Limited, and others.

COMTEX_437809022/2840/2023-08-03T23:50:08

The machine vision market is poised for a promising growth curve, driven by the rapid expansion of Industry 4.0 and the increasing adoption of machine learning, AI, and IoT across industries. This article will uncover insights into the markets growth trajectory in the short-term outlook and shed light on various driving factors and challenges.

The Impact of Industry 4.0 on Machine Vision Market

Industry 4.0, characterized by the integration of digital technologies into manufacturing processes, has significantly contributed to the growth of the machine vision market. The deepening penetration of machine learning, AI, and IoT in various industries has fueled the demand for vision-based systems that enable intelligent decision-making.

Driving Factors for Machine Vision Market Growth

Rising Demand for Automation and Quality Control

The increasing emphasis on automation and quality control in industries is a major driver propelling revenue growth in the global machine vision market. Machine vision systems enable quick and precise control, ensuring efficient manufacturing and better delivery reliability.

Vision-Guided Robotics Systems

The rising need for vision-guided robotics systems has emerged as another crucial factor contributing to the markets growth. Machine vision empowers robots to perceive and act, enhancing their efficiency and accuracy in various applications.

Adoption of Cutting-Edge Technologies

Manufacturers are actively adopting cutting-edge technologies to stay competitive in the market. The integration of advanced machine vision systems in the manufacturing process has improved product quality and increased productivity.

Government Initiatives in Favor of Industry 4.0

Several governments worldwide have focused on promoting the adoption of Industry 4.0 and smart factories. For instance, the Indian government launched a program in 2019 to encourage the acceptance of current-edge technologies like AI and robotics in the manufacturing sector.

Strategic Procedures in the Machine Vision Market

Market vendors are engaging in strategic procedures like acquisitions, mergers, collaborations, and facility expansions to gain a competitive edge in the international sector. The introduction of updated machine vision software suites and partnerships for innovative platforms is driving market growth.

COVID-19 Impact on the Market

The COVID-19 pandemic caused simultaneous disruptions in supply and demand, leading to severe slumps across various sub-sectors. However, the crisis accelerated the advancement and application of automation technology, with robots and intelligent systems promising disease surveillance and contact tracking.

Advancements in Industry 4.0 and Machine Vision Market Growth

The evolution of Industry 4.0 is revolutionizing manufacturing industries, increasing productivity, improving product quality, reducing waste, and lowering operational costs. The integration of cyber-physical systems and data analytics capabilities is driving machine visions significance in automation for manufacturing and production industries.

Vision-Enabled Robotics Systems: The Key to Market Growth

Vision-enabled robotics systems have become crucial components of industrial automation. The increased use of industrial robots in automotive and consumer electronics industries has driven demand for integrated machine vision systems with vision-guided robot controllers.

Limitations: Routine Maintenance and Skilled Professionals

Machine vision systems require regular maintenance for their reliable operation, making upkeep expenses relatively expensive. The industrys growth is also constrained by the shortage of skilled professionals with specialized understanding of the equipment.

PC-Based Cameras vs. Smart Cameras

The machine vision market is segmented into PC-based and smart cameras. PC-based MV systems currently dominate the market, while smart cameras are expected to witness significant growth due to their applications in 3D sensing and imaging.

Automotive Applications: A Revenue Generator

The automotive sector has emerged as a key revenue generator in the machine vision market. Machine vision systems can scan barcodes, data matrix codes, and characters on vehicle parts, labels, and packaging, ensuring error-proofing and quality control.

Steady Growth in Pharmaceuticals & Chemicals Segment

The pharmaceuticals & chemicals segment is expected to experience steady revenue growth due to increased automated production in factories. Machine vision aids in industrial automation for precise quality control and increased supply chain transparency.

North Americas Dominance in Machine Vision Market

North America is anticipated to account for the largest revenue share in the machine vision market, driven by rising R&D expenditures and technical breakthroughs. The USs leadership in technology development and engineering process efficiency further supports market growth.

Stable Growth in Asia Pacific Region

The Asia Pacific machine vision market is projected to experience stable revenue growth due to the expansion of manufacturing operations and innovative manufacturing methods in the region. China and Japan present significant opportunities for technology development and establishment.

Competitive Landscape: Key Players in the Market

Prominent players in the machine vision market include Allied Vision Technologies GmbH, Basler AG, Cognex Corporation, Keyence Corporation, LMI Technologies, Inc., Microscan Systems, Inc., National Instruments Corporation, OMRON Corporation, Sick AG, and Tordivel AS.

Conclusion

The machine vision market is poised for remarkable growth in the next few years, driven by the rapid expansion of Industry 4.0 and the increasing adoption of advanced technologies. Vision-guided robotics systems, automation, and quality control will be key growth factors in the market.

Read Here: https://www.fairfieldmarketresearch.com/report/machine-vision-market

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COMTEX_437787631/2840/2023-08-03T14:33:19

The global travel safety kits market is projected to witness substantial growth in the upcoming years, with an anticipated Compound Annual Growth Rate (CAGR) of 4.5 percent during the forecast period. In 2021, the market size was valued at USD 4174.1 million, and it is expected to experience a surge due to various factors.

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Travel safety kits are collections of essential travel necessities conveniently bundled together, including face masks, sanitizers, wipes, full-face protection equipment, and other medical safety measures. The rising awareness of the importance of exercising caution during travel, especially amidst a pandemic, is driving the demand for these safety kits. Additionally, the implementation of government safety standards is further boosting market demand.

Factors contributing to the growth of the global market for travel safety kits include an increase in the number of tourists, rising awareness of health and safety, growing disposable income, increasing travel demand, population growth, and expansion of the tourism sector. The COVID-19 outbreak has also had a positive impact on the market, as it led to a surge in demand for COVID-19 protection kits, especially from healthcare professionals and due to government regulations.

The rise in the number of fall-related injuries has resulted in an increased demand for first aid kits. According to the World Health Organization (WHO), falls are the second most common cause of unintentional and accidental injury deaths worldwide. Each year, there are approximately 37.3 million recorded cases of falls requiring medical attention. Consequently, the need for first aid kits to treat such injuries has become crucial.

Furthermore, the prevalence of burn cases is expected to increase globally, with low- and middle-income countries accounting for 96.00% of burn cases, as per the WHO. In India alone, more than 1,000,000 people suffer from mild to severe burns annually. Rapid medical care and first aid are essential for burn patients, as delays can lead to complications.

The market segment dominated by COVID-19 protection kits is expected to witness significant growth during the forecast period due to the increasing demand for face masks, PPE kits, and sanitizers. Additionally, the Asia Pacific region is projected to hold the largest market share, driven by the regions growing road accidents and increasing awareness of health-related consumer goods.

Despite the positive outlook, the market may face challenges due to the disruption in the global supply of personal protective equipment (PPE) caused by rising demand, panic buying, hoarding, and misuse.

Various companies in the market are continuously introducing new products to meet the increasing demand for travel safety kits. For instance, The Kare Lab introduced a new travel safety kit that includes a face shield and a bag for international and domestic travel.

Prominent players in the global travel safety kits market include Adventure Ready Brands, Cintas Corporation, Acme United Corporation, DC Safety Sales Co Inc, Green Guard First Aid and Safety, Levitt Safety Limited, Certified Safety Manufacturing Inc, MedTree, Lifeline First Aid LLC, and Steroplast Healthcare Limited.

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COMTEX_437787630/2840/2023-08-03T14:33:18

The global milk mineral concentrate market is experiencing robust growth, driven by the increasing awareness of health and wellness among consumers and a rising incidence of calcium deficiency-related health issues. A comprehensive study conducted on the various facets of this market provides valuable insights that aid in understanding its growth trajectory during the forecast period.

Read More: https://www.fairfieldmarketresearch.com/report/milk-mineral-concentrate-market

The Health Drive: A Strong Catalyst for Market Expansion

The global populations growing focus on health and wellness is leading to a paradigm shift towards nutritional foods and supplements, resulting in a surge in demand for functional foods and beverages. Calcium-rich milk mineral concentrates are increasingly used in various food and beverage applications to address nutritional needs. A significant factor driving this demand is the rising prevalence of bone-related illnesses, such as osteoporosis and osteopenia, which are linked to calcium deficiency. Across the world, there is a growing incidence of calcium shortage due to various factors, including inadequate calcium consumption and underlying medical conditions, fueling the demand for milk mineral concentrates.

Government Initiatives and Expanding Applications Drive Market Growth

In countries like China, government officials focus on product fortification has led to increased awareness and usage of milk mineral concentrates. Such initiatives are expected to fuel market expansion in various regions. Additionally, market participants are actively expanding the applications of milk mineral concentrates to meet the unmet needs of the population, particularly concerning bone health. For instance, it is estimated that around 10 million Americans suffer from osteoporosis, with approximately 44 million at high risk for developing it due to insufficient bone mass, as reported by the Bone Health and Osteoporosis Foundation (BHOF) in 2021.

COVID-19 Impact and Changing Consumer Preferences

The COVID-19 pandemic presented difficulties, yet the milk mineral concentrate market grew profitably during this time. Increased demand for milk and dairy products, coupled with minor supply chain disruptions, contributed to higher revenues for market players. However, changing consumer preferences, including a shift towards vegan and plant-based products, are expected to limit the markets expansion in the forecast period.

Segment Insights

The market is dominated by the 20% to 25% milk mineral concentrate category because effective therapies are needed to address the growing prevalence of mineral deficiencies. Market participants are focusing on increasing the content of essential minerals like calcium, catering to the demand for fortified food products and nutritional beverages.

Asia Pacific Spearheads Growth with High Prevalence of Calcium-Deficient Illnesses

Because calcium-deficient disorders are becoming more common, particularly in young children and the elderly, the Asia Pacific region is predicted to lead the market for milk mineral concentrate. Government initiatives and regulations for fortified food items, including infant formulae, are further propelling market growth.

Competitive Landscape

Prominent players in the milk mineral concentrate market include Arla Foods Ingredients, Armor Proteines, Food Ingredient Technology Co., Ltd., Lactalis Ingredients, Garuda International Inc., Fonterra, Donaghys, ADM, MG Ingredients, Whiteoakmills, and Draco Ingredients. Industry leaders continue to pursue strategic partnerships and expand their product offerings to maintain a competitive edge.

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COMTEX_437787629/2840/2023-08-03T14:33:18

The global demand for natural and plant-based ingredients has driven the remarkable expansion of the citrus extract market. Derived from citrus fruits such as lemon, lime, orange, and grapes, citrus extract offers numerous health benefits and finds wide applications in the food and beverages, pharmaceutical, and consumer products industries.

For More Industry Insight, Read: https://www.fairfieldmarketresearch.com/report/citrus-market

A Natural Immunity Booster: Citrus Extract Gains Popularity

Rich in essential vitamins and phytochemicals, citrus extract is known for its immune-boosting properties, making it highly sought after in the market. With increasing awareness about the importance of a healthy lifestyle, the demand for citrus extract has surged across various industries.

COVID-19 Pandemic Amplifies Citrus Extract Demand

The outbreak of COVID-19 has further accelerated the demand for citrus extract, particularly vitamin C. Studies have shown that vitamin C can strengthen the immune system, reducing the risk of severe viral infections. As medical experts recommend the intake of vitamin C for COVID-19 patients, consumers have shifted towards immune-boosting supplements, fueling the growth of the citrus extract market.

Pharmaceutical and Dietary Supplements Lead the Market

The pharmaceutical and dietary supplements segment holds the most significant value share in the citrus extract market. Using citrus extract as an immunity booster and its application in COVID-19 treatments have contributed to the segments dominance. The food and beverages industry is also expected to grow significantly, driven by the rising preference for vitamin C-fortified products.

Supply Chain Disruptions Pose Challenges

Despite the markets positive trajectory, challenges like citrus fruit production shortages and supply chain disruptions have impacted the citrus extract market. Fluctuations in citrus fruit production in major producing countries like Brazil, China, and the U.S. have affected the overall market. Furthermore, labor shortages and supply chain disruptions due to the COVID-19 pandemic have affected market growth.

North America and Europe: Key Players in the Citrus Extract Market

North America and Europe are prominent in the citrus extract market, with increasing demand for immune health supplements. Vitamin C deficiency is prevalent in nearly 23 million Americans, further driving the need for citrus extract products in these regions.

Innovations by Leading Players

Key global citrus extract market players, including Symrise AG, Kerry Group, and Givaudan, continue to innovate and develop new product offerings. Clean-label citrus extracts have gained attention, with companies like Kerry Group launching a new line of natural and clean label citrus extracts to cater to the need for immunity-boosting beverages.

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COMTEX_437759331/2840/2023-08-03T04:11:56

Asthma, a chronic respiratory disorder, continues to pose a rising burden on a global scale, contributing significantly to the growth of the asthma treatment market. This prevalent respiratory disease has become a major cause of mortality worldwide, affecting millions of individuals and resulting in economic and mental strain. According to the World Health Organization (WHO), the prevalence of asthma has been steadily increasing, with around 262 million individuals affected by the disease and approximately 455,000 deaths recorded in 2019 alone. Each year, about 339 million people develop asthma, with the majority of deaths observed in older adults. The Global Initiative for Asthma 2020 report highlights that asthma affects 1-18% of the population in different countries, and its prevalence continues to rise globally. This alarming trend has triggered a demand for advanced therapeutics to effectively treat asthma, leading to the expansion of the asthma treatment market.

For more information, please refer to the full report: https://www.fairfieldmarketresearch.com/report/asthma-treatment-market

Asthma and the COVID-19 Pandemic

The year 2020 brought an unforeseen challenge in the form of the COVID-19 pandemic, which further emphasized the importance of developing advanced therapeutics for asthma treatment. Both asthma and the Sars-CoV-2 virus primarily affect the respiratory system, making it crucial to have sophisticated medications to address these conditions. With a growing patient pool suffering from asthma and heightened concerns about respiratory health, the Centers for Disease Control and Prevention (CDC) issued special and stringent guidelines for individuals with asthma during 2019-2020. This surge in demand for novel and advanced drugs to treat asthma has fueled the growth of the asthma treatment market.

Research and Development (R&D) and New Drug Launches

The rising cases of asthma have prompted pharmaceutical companies to invest heavily in research and development for asthma treatment. Leading players in the asthma treatment market are dedicated to developing advanced drugs and therapeutics, conducting clinical trials to secure approvals from healthcare authorities. The evaluation of new drug candidates aims to achieve better control of asthma symptoms and improved lung functioning among patients. Notably, post the COVID-19 pandemic, the sales of advanced asthma treatments witnessed significant growth. Regulatory authorities prioritized approvals for advanced asthma therapeutics during the 2019-2020 timeframe, as evidenced by the approval of respective generic asthma treatment drugs of Cipla and Lupin by the US Food and Drug Administration (FDA) in April 2020. This trend has triggered the launch of new advanced drugs from major players in the asthma treatment market, further influencing its growth on a global scale.

Impact of Air Pollution on Asthma Cases

Air pollution has been linked to an increase in asthma cases among both adults and children. Extensive research has established a strong association between asthma in children and exposure to outdoor and indoor air pollution. Factors such as second-hand smoking, traffic-related air pollution, and nitrogen dioxide have been identified as critical contributors to asthma, especially in children. Prolonged exposure to these pollutants can have adverse effects on individuals, causing impaired lung function, exacerbation of symptoms, and increased asthma prevalence. The alarming rise in air pollution worldwide is expected to further fuel the need for asthma medications and drugs, thereby boosting the growth of the asthma treatment market.

Dominance of North America in the Asthma Treatment Market

North America is poised to hold a significant revenue share in the asthma treatment market. The regions developed economies have witnessed a surge in asthma cases, along with the presence of major players in the asthma treatment industry. For instance, the Asthma and Allergy Foundation of America (AAFA) reported that more than 25 million individuals were affected by asthma in the United States in 2019, and around 11 people died from asthma every day in the country. Additionally, the Centers for Disease Control and Prevention (CDC) reported that approximately 25,257,138 individuals, including both adults and children, were affected by asthma in the United States in 2020. This escalating burden has led to an increased demand for high-performance drugs to effectively treat this respiratory disease. Moreover, the regions robust healthcare infrastructure, government support, incentives, and stable growth in GDP per capita play a vital role in driving the growth of the asthma treatment market in North America.

Competitive Landscape of the Asthma Treatment Market

The asthma treatment market features several major players committed to providing innovative solutions for asthma management. Leading pharmaceutical companies such as AstraZeneca, Novartis AG, Mylan N.V., GlaxoSmithKline Plc, Sanofi, Merck & Co. Inc., Sumitomo Dainippon Pharma Co. Ltd., Regeneron, Cipla, Teva Pharmaceuticals, and Lupin Pharmaceuticals are actively involved in developing and marketing advanced asthma treatments. Their contributions to research and development, coupled with new drug launches, have significantly impacted the growth and development of the asthma treatment market.

Conclusion

The rising burden of asthma continues to drive the growth of the asthma treatment market on a global scale. With an increasing number of asthma cases and the impact of the COVID-19 pandemic, the demand for advanced therapeutics to effectively manage asthma has surged. Research and development efforts have resulted in the approval and launch of novel asthma treatments, leading to a highly competitive market landscape. Furthermore, the detrimental effects of air pollution on asthma prevalence highlight the urgent need for effective medications to alleviate respiratory distress. As North America maintains its dominance in the asthma treatment market, the focus on developing innovative and efficient asthma treatments remains paramount to improve the quality of life for millions of individuals affected by this chronic respiratory condition.

COMTEX_437751218/2840/2023-08-02T22:11:47