Mese: ottobre 2024

Petrochemicals Industry

The global petrochemicals market was valued at USD 619.28 billion in 2023 and is projected to experience a compound annual growth rate (CAGR) of 7.3% from 2024 to 2030. This anticipated growth is primarily driven by an increase in demand for downstream products across various end-use industries, including construction, pharmaceuticals, and automotive. Petrochemicals serve as vital components in numerous industrial processes, establishing them as the backbone of the industrial economy. Key products derived from petrochemicals include tires, industrial oils, detergents, and plastics. Basic plastics, in particular, are essential building blocks in the manufacturing of consumer goods.

End-use industries frequently assess the quality of the products supplied to them and often establish procurement agreements with suppliers to purchase petrochemical derivatives in bulk, ensuring a stable and seasonal supply. The increase in the number of product suppliers in the petrochemicals market in the United States has led to higher bargaining power for buyers, allowing them to negotiate better terms and prices.

However, the industry faces significant challenges due to the fluctuations in crude oil prices, which serve as a fundamental raw material for petrochemical production. Volatility in crude oil prices and supply directly impacts the production costs of petrochemicals, making the production process more expensive. Additionally, growing consumer preferences for environmentally friendly products, coupled with the unstable prices of raw materials used in petrochemicals, are likely to hinder market growth in the coming years.

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Product Segmentation Insights

• Ethylene dominated the market in 2023, accounting for a revenue share of more than 0%. This strong market presence is primarily attributed to the rising demand for ethylene across various industries, including construction, packaging, and transportation. The ongoing industrialization and the growth of automotive and packaging sectors in emerging economies such as India, Brazil, Vietnam, and Thailand are expected to further fuel the consumption of ethylene in these countries throughout the forecast period. Additionally, the increased use of polyethylene, High-Density Polyethylene (HDPE), and Low-Density Polyethylene (LDPE) is anticipated to contribute significantly to the overall growth of the petrochemicals market.
• The methanol segment is predicted to experience the highest CAGR of 9% during the forecast period. Methanol serves as a crucial feedstock for the production of acetic acid and formaldehyde, which are essential components in various products, including foams, adhesives, solvents, plywood subfloors, and windshield washer fluids. The demand for methanol is expected to grow due to its increasing use in several end-use industries such as construction, paints and adhesives, pharmaceuticals, plastics, and automotive.
• Butadiene emerged as the second-largest product segment in 2023, holding more than 0% of the revenue share. It is primarily utilized as a chemical intermediate and monomer in the production of various polymers, including styrene-butadiene rubber (SBR), Polybutadiene Rubber (PBR), Polychloroprene (CR), and Nitrile Rubber (NR). The demand for butadiene derivatives has significantly increased, particularly in China, India, and other Asian countries, driven by the growth of end-use industries such as automotive, consumer goods, and construction.

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About Grand View Research

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

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

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Advanced Wound Care Industry

The global advanced wound care market was valued at USD 10.77 billion in 2023 and is projected to experience a compound annual growth rate (CAGR) of 4.75% from 2024 to 2030. Several factors are contributing to this market growth, including the increasing number of surgical procedures, a rise in road accidents, and an uptick in trauma cases and burns. Additionally, the introduction of innovative and advanced wound care products plays a significant role in driving demand. The growing prevalence of chronic diseases that impair wound healing capabilities further enhances the need for advanced wound care solutions.

Another crucial factor influencing market growth is the expanding geriatric population, which typically exhibits slower healing abilities. According to the United Nations Population Fund’s India Ageing Report 2023, the population aged 60 and above is projected to increase from 14.9 crores in 2022 to 34.7 crores by 2050. This demographic shift is likely to propel market growth, as older individuals often experience more complications related to wound healing.

Additionally, individuals suffering from diabetic foot ulcers (DFU) face a heightened risk of lower-extremity amputation. A study published on ScienceDirect indicates that diabetic foot ulcers could affect more than 25% of the diabetic population, with amputation occurring in 20% of these patients. Advanced wound care products are particularly effective in treating diabetic foot ulcers, which are common among those with diabetes. These products facilitate moisture retention and promote rapid internal and external healing of wounds. Furthermore, they assist in the absorption of necrotic tissues, making them effective in managing surgical site infections. As a result, healthcare professionals increasingly prefer advanced wound care products, a trend anticipated to significantly boost global wound care market growth throughout the forecast period.

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Product Segmentation Insights

Moist Wound Care Segment:

• The moist wound care segment held the largest revenue share of 70.88% in 2023.
• This dominance is primarily due to:
  • An increase in the number of wound cases globally.
  • A rise in the number of surgeries performed worldwide.
• For example:
  • According to the Life Span Organization, approximately 500,000 open-heart surgeries were conducted in the U.S. in 2018.
  • According to AHA Journals, around 40,000 children in the U.S. undergo congenital heart surgery each year.
• The extended healing time required for such surgeries makes advanced wound care products essential for quick recovery, thereby contributing to the growth of the advanced wound care market during the forecast period.

Active Wound Care Segment:

• The active wound care segment is anticipated to register growth at the fastest compound annual growth rate (CAGR) during the forecast period.
• Key factors driving this segment’s growth include:
  • The rising incidence of chronic illnesses such as diabetes and obesity, which can lead to slower healing of wounds.
  • An increase in the geriatric population, who often experience prolonged healing times.
  • A higher number of surgical procedures being performed globally.

• These factors collectively are expected to significantly propel the growth of the active wound care segment throughout the forecast period.

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

About Grand View Research

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

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

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Lidar Industry

The global LiDAR market was valued at USD 1.81 billion in 2021 and is projected to experience significant growth, with an expected compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. This growth is largely driven by technological advancements that have improved the spatial resolution of LiDAR-based digital terrain models, enabling more accurate applications such as change detection on hillsides, water runoff analysis for agricultural and mining sites, and assessments of inland waterways. Furthermore, the increasing automation within the LiDAR sector is helping to reduce human effort while enhancing overall efficiency, which contributes to the market’s expansion.

A key factor expected to propel the market growth over the forecast period is the rising demand for 3D imagery across various application areas, including military and defense, topographical surveys, civil engineering, and corridor mapping. Textured 3D imagery plays a crucial role in applications such as 3D mapping, urban planning, and corridor mapping. As the need for advanced safety features continues to grow, there is a notable increase in the adoption of LiDAR technology. For instance, in the United States, government approvals for self-driving cars have facilitated their presence on the roads, and these vehicles are often equipped with LiDAR systems for GPS and navigation purposes. This integration further underscores the significant role that LiDAR technology plays in enhancing the capabilities of autonomous vehicles and other advanced applications.

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Product Type Segmentation Insights

Airborne Segment Dominance (37.7% Revenue Share in 2021):

• The airborne segment accounted for a substantial revenue share of 37.7% in 2021.
• Growth in this segment is expected to persist over the next few years.
• The increase is driven by the rising adoption of aerial mapping devices.

Advantages of Aerial LiDAR Systems:

• Aerial LiDAR systems provide an accurate and comprehensive method for creating digital elevation models.
• These systems are gradually replacing traditional photogrammetry due to their enhanced capabilities.
• Aerial LiDAR offers:
  • Greater area coverage compared to terrestrial systems.
  • Faster large-area mapping in shorter time intervals.

Terrestrial LiDAR Systems:

• Terrestrial LiDAR can be classified into mobile and stationary systems.
• These systems are designed to operate solely on the Earth’s surface.
• Static terrestrial scanning is a commonly preferred method for various applications, including:
  • Monitoring
  • Conventional topography
  • Forensics
  • Cultural heritage documentation

Mobile and UAV LiDAR Systems:

• Mobile and UAV LiDAR systems function in both mobile and aerial modes.
• They are capable of working on the Earth’s surface as well as in surrounding environments.
• The growing adoption of mobile and UAV LiDAR systems is anticipated to drive significant investments from key industry participants.

Recent Product Launches:

• In October 2019, RIEGL Laser Measurement Systems GmbH launched a lightweight airborne LiDAR system specifically designed for UAVs.
  • This miniaturized UAV sensor is particularly effective for applications requiring the acquisition of small objects.
• In September 2021, YellowScan, a France-based designer of UAV LiDAR solutions, announced the launch of the YellowScan Explorer.
  • This device can be mounted on light human-crewed aircraft or switched to various types of UAV platforms.
  • It enables end-users to tackle a diverse range of projects efficiently.

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

About Grand View Research

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

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

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Synthetic Biology Industry

The global synthetic biology market was valued at USD 16.22 billion in 2024 and is projected to experience significant growth, with a compound annual growth rate (CAGR) of 17.30% from 2025 to 2030. This growth can be attributed to the emergence of various applications of synthetic biology, particularly in areas such as multiplexed diagnostics, cellular recording, and therapeutic genome editing. As these applications gain traction, they are expected to drive a substantial increase in the demand for synthetic products throughout the forecast period. Moreover, the integration of synthetic biology techniques and products into sectors such as energy and chemicals is anticipated to further enhance overall market growth. As the applications of synthetic biology continue to diversify, its utility is likely to expand, leading to broader adoption and accelerated market development.

The impact of the COVID-19 pandemic has notably amplified the utilization of synthetic biology products over the past two years. In response to the crisis, numerous leading pharmaceutical and biotechnology companies, as well as prominent players in the synthetic biology field, have intensified their research efforts on a global scale. These organizations have employed innovative techniques to produce critical tools such as test kits, therapies, and vaccines for COVID-19. A study by the European Parliament highlights synthetic biology as a developing technology with significant potential applications for addressing COVID-19 infections. Additionally, the U.S. National Institutes of Health has recognized synthetic biology as a crucial tool for expediting vaccine development, underscoring its importance in public health initiatives. This heightened focus on synthetic biology during the pandemic is likely to influence its growth trajectory and expand its applications in the future.

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Product Insights

Enzymes Segment Dominance (36.79% Market Share in 2024):

• The enzymes segment held a significant market share of 36.79% in 2024.
• Enzymes are vital in various biotechnological processes, including:
  • DNA manipulation
  • Protein engineering
  • Metabolic pathway construction

Importance of Enzymes in Multiple Applications:

• Enzymes are crucial for applications across several sectors, such as:
  • Pharmaceuticals
  • Agriculture
  • Biofuels
• The demand for efficient and specific biocatalysts drives the market for enzymes.

Versatility and Innovations:

• The versatility of enzymes facilitates innovations in areas such as:
  • Gene editing
  • Synthetic pathways
• This versatility makes enzymes indispensable in both research and industrial applications.

Advancements in Enzyme Engineering:

• Recent advancements in enzyme engineering and production technologies have led to:
  • Enhanced performance of enzymes
  • Reduced production costs
• These improvements further solidify the market position of the enzymes segment.

Growing Reliance on Enzymes:

• As synthetic biology continues to expand, the reliance on enzymes for a diverse range of applications is expected to increase.

Cloning Technologies Kits Segment Growth:

• The cloning technologies kits segment is projected to experience the fastest compound annual growth rate (CAGR) of 18.43% over the forecast period.
• These kits simplify the processes involved in:
  • Gene insertion
  • Amplification
  • Modification
• They make these processes accessible for both research and commercial applications.

Factors Driving Demand for Cloning Technologies:

• The rise of personalized medicine and innovations driven by synthetic biology fuels the demand for efficient cloning solutions.
• Growing interest in synthetic organisms and bioengineering projects is accelerating the adoption of cloning technologies.

Outlook for Gene Cloning Methods:

• As researchers and companies seek faster and more reliable methods for gene cloning, the cloning technologies kits segment is poised for significant growth in the coming years.

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

About Grand View Research

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

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

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3D Cell Culture Industry

The global 3D cell culture market was valued at USD 1.57 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 11.22% from 2024 to 2030. This growth is primarily driven by rising efforts to develop alternatives to animal-based testing, supported by increasing availability of funding programs for research. Furthermore, the biopharmaceutical industry’s continued emphasis on research and development (R&D) activities for drug discovery and development, along with the growing adoption of 3D cell cultures in cancer research, are expected to contribute significantly to market expansion. Traditionally, animal models have been widely used in cellular-based studies for understanding disease mechanisms; however, these models have limitations, such as differences in species-specific responses and lack of accurate outcomes. To address these challenges, various government organizations are promoting alternative methods for drug development, enhancing the appeal of 3D cell cultures.

The COVID-19 pandemic has had a considerable impact on the 3D cell culture market. The outbreak offered researchers the chance to study the novel virus and develop therapeutic and diagnostic solutions. Many leading pharmaceutical and biotechnology companies have increased their R&D efforts to create innovative vaccines, therapies, and diagnostic kits, thereby driving up demand for cell culture tools. The pandemic also heightened the need for new cell-based models, organoids, and high-throughput screening platforms to support research and drug discovery initiatives. Additionally, the urgency to develop vaccines and treatments for COVID-19 led to a surge in demand for bioreactors and culture systems, which are critical in vaccine production and drug testing. Consequently, the pandemic not only accelerated innovation in the 3D cell culture market but also underscored the importance of advanced cell culture technologies in addressing global health challenges.

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Technology Insights

Scaffold-Based Segment Dominance (48.94% Market Share in 2023):

• The scaffold-based segment held the largest market share of 48.94% in 2023.
• This segment is further subdivided into various types of scaffolds, including:
  • Hydrogels
  • Polymeric scaffolds
  • Micropatterned surface microplates
  • Nanofiber-based scaffolds

Factors Driving Scaffold-Based Segment Growth:

• Increasing applications of scaffold-based cultures in tissue engineering and regenerative medicine are expected to propel segment growth.
• Advancements in scaffold materials and fabrication techniques are enhancing the effectiveness of these scaffolds in research and therapeutic applications.
• Growing research funding and collaboration initiatives are further supporting the development and adoption of scaffold-based technologies.

Hydrogels in 3D Cell Culture:

• Hydrogels are widely used as scaffolds in 3D cell culture model studies, allowing for the incorporation of biochemical and mechanical signals that closely mimic the native extracellular matrix.

Technological Advancements and Product Launches:

• Recent technological advancements and ongoing research activities are projected to fuel growth in the scaffold-based segment.
• For example, in June 2022, Dolomite Bio launched novel hydrogel-focused reagent kits designed for high-throughput encapsulation of cells within hydrogel scaffolds.
• Additionally, ongoing research efforts to develop innovative scaffold-based technologies contribute to market expansion. Notably, in May 2023, researchers from the National University of Singapore (NUS) successfully utilized common plant proteins to 3D print an edible cell culture scaffold.

Scaffold-Free Segment Growth:

• The scaffold-free segment is expected to register the fastest compound annual growth rate (CAGR) over the forecast period.
• Key factors contributing to this rapid growth include:
  • Enhanced cellular interactions
  • Higher throughput and scalability of scaffold-free systems
  • Rising demand for personalized medicine, which emphasizes tailored therapeutic approaches
  • Advancements in 3D culture model platforms and technologies

Robust Demand for Scaffold-Free Systems:

• There is a strong demand for scaffold-free systems across various end users, including:
  • The biopharmaceutical industry
  • Research institutes
• This growing demand is further driving the expansion of the scaffold-free segment within the 3D cell culture market.

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

About Grand View Research

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

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

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Lubricants Industry

The global lubricants market was valued at USD 139.44 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2030. This growth is largely driven by the increasing demand for automotive oils and greases, which are essential due to the expanding trade of vehicles and spare parts worldwide. Lubricants play a critical role in many rapidly growing industries, especially in sectors where machinery is in constant use. These lubricants, whether petroleum-based or water-based, are applied between moving parts to minimize friction and reduce wear and tear. This, in turn, ensures the efficient functioning of machines, reducing operational downtime and enhancing overall productivity across industries.

Lubricants are extensively used in both industrial processing and the automotive sector, particularly in vital components such as brakes and engines, where continuous lubrication is necessary for smooth and long-term operation. The market is also benefiting from the increasing global trade of piston engine lubricants, which further boosts the industry’s growth. This rise in demand is driven by consumers’ growing focus on improving vehicle performance, coupled with the availability of innovative and premium lubricant products that cater to specific needs.

Looking ahead, the market’s future growth will be closely linked to motor vehicle production and the number of miles driven by each vehicle. As more vehicles are produced and operated, the need for lubricants will continue to rise. Additionally, consumers are increasingly seeking both standard and specialized lubricants to maintain the smooth operation of their vehicles and reduce long-term maintenance costs, highlighting the importance of lubricants in ensuring vehicle efficiency and durability.

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Application Segmentation Insights

Automotive Segment Dominance (53.4% Revenue Share in 2023):

• The automotive segment led the global lubricants industry with the largest revenue share of 53.4% in 2023.
• This growth is driven by increased sales of consumer automobiles, including buses, trucks, and other forms of passenger transportation.

Economic Growth in Emerging Markets:

• Emerging markets such as China, India, and Brazil have experienced significant economic growth, leading to improvements in public transportation systems.
• As a result, there is a strengthened demand for commercial automotive lubricants in these regions, supporting the overall growth of the automotive segment.

Rising Sales of Commercial and Construction Vehicles:

• The increasing sales of commercial vehicles, particularly heavy-duty trucks, as well as construction-related automotive like cranes, bulldozers, and concrete mixers, are expected to drive further growth in the lubricants market.
• This trend is particularly expected to boost the lubricants market in the Middle East & Africa region over the forecast period.

Industrial Segment’s Contribution (Second-Largest Share in 2023):

• The industrial segment held the second-largest share of the global lubricants market in 2023.
• This is due to the high level of industrial production in emerging markets, which drives demand for lubricants across various industrial sectors.

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

About Grand View Research

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

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

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Regenerative Medicine Industry

The global regenerative medicine market was valued at USD 30.43 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.79% from 2024 to 2030. Key drivers for this growth include:

• Advancements in Biological Therapies and Shift to Personalized Medicine:
  • Recent progress in biological therapies has led to a growing shift from traditional treatment approaches to personalized medicinal strategies.
  • Personalized medicine offers tailored treatments based on individual patient characteristics, leading to more precise and effective interventions. This shift has opened up new opportunities for companies involved in developing biological therapeutics, allowing them to innovate and meet the increasing demand for personalized treatment options.
• Increased Focus on Regenerative Therapies Due to Degenerative Disorders:
  • The rising prevalence of degenerative disorders, such as osteoarthritis, cardiovascular diseases, and neurodegenerative conditions, has intensified the focus on research and development (R&D) of novel regenerative therapies.
  • Regenerative therapies, which aim to repair or replace damaged tissues and organs, are becoming crucial in addressing these disorders, driving the demand for innovative treatments that restore function and improve quality of life.
• Impact of COVID-19 on the Regenerative Medicine and T-cell Therapy Market:
  • The COVID-19 pandemic has significantly affected several markets, including the regenerative medicine and T-cell therapy manufacturing sectors.
  • The SARS-CoV-2 crisis has disrupted the delivery of CAR T-cell therapies, which are critical for treating certain types of cancer. This disruption extends beyond patient care, affecting the administrative and logistical processes involved in therapy delivery and straining healthcare resources.
• Challenges in Clinical Trials and Research Activities:
  • The pandemic has also caused delays in clinical trials and other research activities, with many universities and research institutions slowing down the enrollment of participants and pausing ongoing studies. This has created temporary challenges for the advancement of regenerative medicine research and development.
• Ongoing Market Expansion Despite Pandemic Challenges:
  • Despite the setbacks caused by COVID-19, the regenerative medicine market continues to expand. Leading market players, such as Novartis, are working to ensure continued access to vital therapies.
  • For example, Athersys, Inc.’s MultiStem, a regenerative therapy with significant potential for treating COVID-19-related complications, highlights the ongoing innovation and adaptation within the market as companies find ways to address both pandemic-related needs and broader regenerative medicine demands.

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Product Segmentation Insights

The therapeutics segment accounted for the largest market share, holding 76.24% in 2023. This is primarily due to the growing elderly population and the higher incidence of age-related and degenerative disorders. The increasing prevalence of diseases for which there are currently limited or no effective treatments, such as cancer, diabetes, and neurodegenerative conditions like age-related macular degeneration (AMD), has driven researchers to explore alternative therapeutic options.

• Rising Disease Prevalence and Unmet Medical Needs:
  • As the population ages, the occurrence of age-related conditions and degenerative disorders increases, driving the demand for innovative therapies.
  • Diseases such as cancer, diabetes, and neurodegenerative disorders have high unmet medical needs, prompting researchers to develop new treatment alternatives, including regenerative medicine and biologics.
• Notable Developments in CAR T-cell Therapy:
  • In April 2022, Kite, a subsidiary of Gilead, received U.S. FDA approval for its CAR T-cell therapy product, Yescarta.
  • Yescarta is designed for the treatment of refractory or relapsed large B-cell lymphoma, providing a new option for patients who have limited responses to existing treatments.

The banks segment is projected to experience the fastest compound annual growth rate (CAGR) of 17.34% from 2024 to 2030.

• Role of Banks in Supporting Research:
  • Banks, typically research-focused, are established with the goal of supporting scientific advancement by minimizing the effort, time, and cost associated with collecting, storing, and curating human tissues or cells for research purposes.
• Growing Use of Banks in Medical Applications:
  • With the increasing use of cell-based and tissue engineering approaches in medical applications, banks that provide these services for non-research purposes have also grown in number.
  • The rising number of clinical trials for stem cell and tissue-based regenerative therapies reflects the expanding demand for these treatments, which in turn supports the growth of this segment.
• Influence on Segment Growth:
  • The combination of more clinical trials focused on stem cell and tissue-based therapies, along with the growing demand for regenerative medical treatments, is expected to significantly drive growth in the banks segment during the forecast period.

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

Predictive Maintenance Industry

The global predictive maintenance market was valued at USD 7.85 billion in 2022, with a projected compound annual growth rate (CAGR) of 29.5% from 2023 to 2030. The integration of artificial intelligence (AI) and machine learning (ML) into predictive maintenance solutions helps to prevent unplanned downtimes and asset failures. AI-driven maintenance systems use IoT hardware components that connect physical assets to an advanced analytics platform, which predicts failures and minimizes unplanned downtimes. IoT sensors embedded in equipment gather diverse data, such as environmental and operational data, to predict component failures before they happen. Additionally, AI models can forecast failure patterns for specific components. The key advantages of AI in predictive maintenance include preventing production losses due to malfunctioning equipment, reducing the need for manual inspections, and improving workplace safety by automatically gathering data from hard-to-reach machinery.

Digital twin technology creates a digital replica of a physical system or object by using real-world data. This technology enables simulated outputs, such as predicting how various inputs may impact business equipment. Major applications include real-time product visualization, remote troubleshooting, connecting different systems, enhancing traceability, and managing complex system-level interactions.

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Component Segmentation Insights

The solution segment held the largest share, accounting for 80.6% of the total revenue in 2022. Predictive maintenance solutions involve the use of software or technology that leverages predictive analytics and data-driven insights to enhance maintenance-related tasks. This approach utilizes artificial intelligence (AI) algorithms to train predictive models using historical data.

Solution Segment Dominance (80.6% of Revenue in 2022):

• The solution segment represented 80.6% of the total revenue in 2022, making it the largest contributor.
• Predictive Maintenance by Solution: This involves the adoption of software or technology solutions that use predictive analytics and data-driven insights to improve maintenance tasks.
• AI Algorithms for Predictive Modeling:
  • Predictive maintenance solutions utilize artificial intelligence (AI) algorithms.
  • These AI algorithms train predictive models using historical data, enabling businesses to forecast equipment failures, performance decline, or upcoming service requirements.
• Data Analysis to Identify Trends:
  • The AI models analyze patterns, trends, and data correlations.
  • This process allows the system to predict when equipment is likely to fail or need servicing before problems escalate.
• Key Benefits for Businesses:
  • Streamlined maintenance operations through data-driven insights.
  • Cost savings by preventing expensive reactive repairs and reducing the likelihood of significant equipment damage.
  • Optimization of spare parts usage and better utilization of assets.
  • Early detection of issues ensures maintenance can be performed before equipment deterioration, improving operational efficiency.

Services Segment: Expected Highest CAGR Growth (2023-2030):

• The services segment is projected to grow at the highest compound annual growth rate (CAGR) from 2023 to 2030.
• Data Collection from Multiple Sources:
  • Predictive maintenance service providers collect data from various sources, including device logs, sensors embedded in equipment, and historical service records.
• Numerical Evaluation and Predictive Modeling:
  • Service providers employ statistical analysis and numerical evaluations to build predictive models.
  • These models predict when equipment is likely to experience breakdowns or require maintenance, ensuring proactive measures can be taken.
• Use of Advanced Analytics:
  • Advanced analytics techniques, such as AI and machine learning algorithms, are applied to the data.
  • These methods help identify patterns, detect anomalies, and anticipate potential failures.
• Benefits for Organizations:
  • Service providers help businesses anticipate maintenance needs before failures occur, reducing downtime.
  • Identifying issues early ensures that repairs or maintenance can be performed on schedule, preventing costly operational interruptions.
  • The insights from service providers aid in better resource allocation and more efficient asset management.

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Cell Culture Industry

The global cell culture market was valued at approximately USD 16.59 billion in 2022 and is projected to experience a compound annual growth rate (CAGR) of 11.32% from 2023 to 2030. This growth is largely driven by the increasing adoption of cell culture methods aimed at developing substrates that ensure the safe production of viral vaccines, alongside a rising global demand for advanced therapy medicinal products. Additionally, the emergence of innovative three-dimensional cell culture techniques, along with a growing necessity for these technologies in biopharmaceutical development and vaccine production, is anticipated to further propel market expansion throughout the forecast period.

The COVID-19 pandemic has created significant opportunities for researchers to explore the new virus, leading to the development of therapeutic and diagnostic tools. Many leading pharmaceutical and biotechnology firms have ramped up their research and development activities to create groundbreaking vaccines, therapies, and testing kits. This surge in R&D efforts has resulted in a notable increase in the demand for cell culture tools within research applications.

Moreover, the pandemic has intensified the need for novel cell-based models, organoids, and high-throughput screening platforms to support research and drug discovery initiatives. The urgent need to address the pandemic has also led to a heightened demand for bioreactors and culture systems specifically for vaccine production and drug testing applications. In response to this increased demand, numerous emerging and established companies have undertaken various initiatives to capitalize on the burgeoning need for cell culture products stemming from the challenges posed by the COVID-19 pandemic.

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Product Segmentation Insights

In 2022, the consumables segment emerged as the dominant player, securing the largest market share of 57.44%. This segment is poised to experience substantial growth over the forecast period, driven by several key factors. The most prominent among these is the recurring demand for consumables, which are essential components used across a wide range of applications in research, diagnostics, and production processes. Unlike capital equipment, which requires a one-time investment, consumables are used frequently and need to be replenished regularly, leading to continuous market demand.

A significant factor further bolstering the growth of this segment is the increasing expenditure on research and development (R&D) by biotechnology and biopharmaceutical companies. These businesses are channeling more resources into the development of sophisticated biologics, such as monoclonal antibodies, vaccines, and other innovative treatments. Monoclonal antibodies, for example, have become critical in treating various diseases, including cancer and autoimmune disorders, driving the need for consumables in their development and production. Similarly, vaccines, particularly in the wake of the COVID-19 pandemic, have gained immense importance, spurring further investment in consumable products needed for their research and manufacturing.

The demand for consumables is expected to remain strong throughout the forecast period, with consistent usage across various sectors. The consumables segment is further classified into several subcategories, including reagents, media, and sera, each serving specific roles in cell culture and biological research. Reagents, for instance, are crucial for chemical reactions and biological assays, while sera and media are essential for maintaining cell cultures.

Within the consumables segment, the cell culture media subsegment stood out in 2022, accounting for the largest share of 42.76%. The robust growth in this area can be attributed to several converging factors. First, there has been a notable increase in R&D investments, particularly in life sciences industries such as biopharmaceuticals, where the need for cell culture media is critical for the development and production of biologics, including therapeutic proteins and vaccines.

Second, the overall expansion of the biotechnology industry has played a significant role in driving the demand for cell culture media. As more biotech companies focus on innovative solutions and novel therapies, the need for specialized media to support cell growth, reproduction, and preservation has grown significantly.

Furthermore, there has been a surge in interest in stem cell research, which is opening new avenues for therapeutic applications in regenerative medicine and tissue engineering. Stem cells are highly valued for their potential to develop into various types of cells, and this potential is being explored for treating a range of diseases. The use of stem cells in biotechnology research requires high-quality cell culture media, which further propels demand in this subsegment.

In summary, the consumables segment, particularly the cell culture media subsegment, is expected to experience sustained growth due to the increasing frequency of use, rising investments in R&D, and the expanding application of advanced biologics and stem cell research. This trend reflects the broader movement toward innovation in biotechnology and life sciences, with consumables playing a pivotal role in supporting ongoing research and product development.

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Coronary Stents Industry

The global coronary stents market was valued at approximately USD 9.32 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030. This growth is primarily driven by the increasing aging population and the rising prevalence of non-communicable diseases, particularly cardiovascular diseases (CVDs), complex lesions, diabetes, and obesity. According to the World Health Organization (WHO), cardiovascular diseases were among the leading causes of mortality worldwide in 2019, with ischemic heart disease (IHD) being the most prevalent form. In that year alone, an estimated 17.9 million people lost their lives to CVDs, accounting for 32% of all global deaths.

Research published by the National Library of Medicine in June 2021 highlights that coronary artery disease (CAD), a type of cardiovascular disease, results in approximately 610,000 fatalities annually, which translates to about 1 in 4 deaths in the U.S. This alarming increase in CAD cases is expected to significantly drive the demand for effective coronary stent devices used in treatment. Given that coronary stents are integral to most Percutaneous Coronary Intervention (PCI) procedures, the growing incidence of CAD is anticipated to further enhance the demand for these devices throughout the forecast period.

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Product Insights

The Drug-Eluting Stents (DES) segment dominated the coronary stents market, capturing a significant revenue share of 66.5% in 2022. This dominance is bolstered by ongoing advancements and the introduction of new devices, reinforcing DES’s status as the preferred choice for Percutaneous Coronary Intervention (PCI) procedures.

Market competitors are actively developing and launching technologically advanced DES. Notable recent launches include Abbott Laboratories’ XIENCE Skypoint, Medtronic’s Resolute Onyx, and Boston Scientific’s Synergy. Compared to previous-generation devices, these newer DES offer enhanced stent integrity, improved deliverability, and reduced complication rates.

According to the National Library of Medicine (NLM) in February 2023, drug-eluting stents (DES) have demonstrated higher effectiveness when compared to bare metal stents. Continuous improvements in stent platform design aim to maximize both efficacy and safety, particularly in addressing the treatment of more complex lesions and challenging patient cases.

Ongoing DES development includes the use of novel scaffold materials, innovative design types, enhanced overexpansion capabilities, new polymer coatings, and improved antiproliferative agents to enhance their performance.

The bioresorbable vascular scaffold segment is anticipated to be the second fastest-growing segment in the market. This is due to several advantages it offers in treating coronary artery disease, such as temporary placement within the patient’s heart, which facilitates easier future treatments as it degrades over three years and eventually dissolves completely in the body.

According to CDC analysis, coronary heart disease is the most prevalent type of heart disease in the U.S., claiming 375,476 lives in 2021. Such statistics are expected to drive growth in the bioresorbable vascular scaffold segment over the forecast period.

The bare metal stents (BMS) segment is projected to experience steady growth in the coming years. However, increased competition from bioresorbable scaffolds (BRS) and DES has made BMS less appealing to manufacturers due to low technological barriers to entry and clinical evidence highlighting BMS’s inferiority compared to DES.

Despite these challenges, BMS stents maintained their presence in the market in 2022, primarily due to their lower device costs, which continue to attract certain segments of the market.

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About Grand View Research

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

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