FMI in its recent study of the Plant-Based Butter Market states that the market is set to surpass US$ 2.4 Bn within the forecast period rising at a value CAGR of over 7%. Surge in demand for plant-based butter is due to growing consumer awareness about ethics of producing animal-based foods & beverages, and the impact of animal husbandry on the environment.
“Variations in the global demographic of vegans, vegetarians, flexitarians, lactose intolerants are strongly adopting plant-based butter products increasingly backed by concerns from animal rights activists and green revolution initiatives,” says FMI analyst.
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Plant-Based Butter Market – Important Highlights
- The market is mainly dominated by North America as FMIprojects that the region will contribute more than 35℅ to the global market share with a valuation of approximately US$ 200 Mn.
- Germany is an active market in the production of plant-based butter products and a lucrative market segregated by around 1.3 Mn vegans and around 8 Mn vegetarians.
- The affordability of soy raw materials is driving demand in the source segment of soy milk along with almond milk which is a highly preferred flavour.
- FMI expects online sales channels to be a key driver in the distribution channels segment which are cheaper and with stronger user-interaction.
Plant-Based Butter Market – Drivers
- Increase in vegan and vegetarian population at the global level is being enhanced by variants of plant-based dairy products and flavouring. Its versatility in reaching a greater demographic are driving factors in the market.
- Health risks such as obesity, heart diseases and the consequences of high-fat content in dairy products like changes in red blood cells and immune cells have started an alarming rise in demand for organic, plant-based butter products that are low in fat levels.
Plant-Based Butter Market – Restraints
- Plant-Based Butter products are expensive from its production stage till the pricing in retails. Thus, many adopt conventional butter as part of their diet.
- The industry is mainly dependent on production of vegetables and nuts. The erratic produce and pricing in these markets due to multiple environmental factors affect the plant-based butter industry.
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COVID-19 Impact on Plant-Based Butter Market
Due to COVID-19, the U.S witnessed sales of plant-based products overtaking animal-based alternatives in meat and dairy sectors while restrictions in the food chain sector led to an increase in home cooking, further, opening opportunities for plant-based butter sales.
Likewise, the pandemic has created space for growth and development in the market globally. FMI study reports that while health becomes a priority, the demand for healthy vegan diets will also spark demand.
Portable Oxygen Concentrators Market to Register 7.8% CAGR Through 2026; Sales to Surge as Oxygen Therapy Becomes Crucial in Covid-19 Treatments
Portable oxygen concentrator manufacturers are largely concerned with the maintenance of inventories throughout the coronavirus crisis, with optimization of supply chains and distribution channels.
The portable oxygen concentrators market is projected to reflect a highly promising 7.8% CAGR between the years of forecast from 2016 to 2026. The coronavirus outbreak is characterized by major respiratory symptoms owing to potentially low levels of oxygen in the patient’s body. Oxygen therapy is a crucial aspect of Covid-19 treatments, which is expected to strongly support the demand for portable oxygen concentrators throughout the crisis period.
“Portable oxygen concentrators are easy to carry and a number of variants are also approved for applications in airplanes. Coupled with the growing geriatric population and incidences of respiratory disease, the demand for portable oxygen concentrators is likely to continue growing in years to come,” states the FMI analyst.
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Portable Oxygen Concentrators Market- Critical Takeaways
- Pulse flow technologies in portable oxygen concentrators are witnessing increasing demand owing to superior efficacy in treating COPD and other breathing problems.
- Home setting applications are contributing significantly to revenue, supported by owing to the trend of miniaturization and easy application of oxygen therapies.
- North America remains a leading market for portable oxygen concentrators owing to favorable government initiatives and a vast and widespread geriatric population.
Portable Oxygen Concentrators Market- Drivers
- Rising incidences of respiratory ailments such as COPD around the world supports market growth.
- Government spending on healthcare infrastructure and geriatric care provides lucrative opportunities.
Portable Oxygen Concentrators Market- Restraints
- Strict regulations associated with approval and use of portable oxygen concentrators hinder market growth.
- Prohibitory costs of portable oxygen concentrators, and lack of awareness in rural areas restrain adoption rates.
Coronavirus Impact on Portable Oxygen Concentrators Market
With the rapid spread of the coronavirus pandemic, the demand for essential medical equipment has shot up. The potentially severe respiratory symptoms, from poor oxygen levels in the patient’s bloodstream will bolster the demand for portable oxygen concentrators. Effective applications in home and hospital settings will contribute to adoption rates and revenue. Manufacturers will remain largely concerned with efforts to optimize supply and distribution channels to circumvent potential challenges from lockdown measures imposed in multiple countries.
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GCE Group, Koninklijke Philips N.V., O2 Concepts LLC, Inogen Inc., Foshan Keyhub Electronic Industries Co. Ltd., Chart Industries Inc., Oxus America Inc., Resmed Inc., Besco Medical Co., Invacare Corp., Precision Medical Inc., and Drive DeVilbiss Healthcare are some of the leading players in the portable oxygen concentrators market.
Manufacturers in the portable oxygen concentrators market are largely displaying interest in the development and launch of new products to boost functionality and widen their portfolios.
For instance, CAIRE Inc. has unveiled a next generation Freestyle Comfort portable oxygen concentrator with proprietary, self-adjusting functionality. OxygenToGo LLC has entered into a deal to provide Virgin Atlantic with portable oxygen concentrators for use in aircrafts. Similarly, ResMed has unveiled Mobi, a portable oxygen concentrator for COPD patients in the United States.
Cancer Supportive Care Products Market to Reach US$ 32 Bn by 2030; Sales Limited by Complications for Cancer Patients Through Covid-19 Infections
The cancer supportive care products market is anticipated to reach a valuation of US$ 32 billion by 2030. The industry is expected to be marginally impacted by the ongoing crisis of the coronavirus outbreak. The critical nature of cancer treatment is a key factor that supports the production and sales of cancer supportive care products. On the other hand, potential risks of coronavirus on immunocompromised cancer patients can create challenges in the industry.
“Most prominent cancer treatment therapies have been known to cause a wide range of potentially serious side effects. Consequently, the role of cancer supportive care drugs is essential in reducing such side effects. So, increasing incidences of cancer has a direct impact on the growth of this market for the foreseeable future,” says the report by FMI.
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Cancer Supportive Care Products Market – Primary Takeaways
- Erythropoietin stimulating agents are accounting for major market share, owing to superior efficacy in supporting the patient’s immunity capacities during treatment.
- Supportive care for breast cancer is rapidly gaining ground, supported by high investments by private and public bodies toward breast cancer awareness campaigns.
- North America is a major market for cancer supportive care products, aided by favorable reimbursement policies, and better healthcare infrastructure.
Cancer Supportive Care Products Market – Growth Factors
- Steadily rising incidences of cancer, coupled with higher incomes and better healthcare facilities are key driving factors.
- High investments by governments and healthcare companies towards product development support adoption.
Cancer Supportive Care Products Market – Major Constraints
- The increasing use of targeted therapy drugs for cancer reduces side effects and the requirement of supportive care products.
- Strict regulations and slow approval of cancer supportive care products holds back market growth.
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The Projected Impact of Coronavirus
With the high level of contagiousness of the covid-19 virus, healthcare facilities are being forced to balance the need for cancer therapies, with the potential risk of severe complications arising from a coronavirus infection, particularly as most cancer patients are immunocompromised for the duration of the treatment. Supportive care products which can minimize clinic and hospital visits are gaining preference. As a result, telehealth options are likely to gain ground during the pandemic.
The cancer supportive care products market comprises players including but not limited to Teva Pharmaceutical Industries Ltd., Amgen Inc., Fagron, Johnson & Johnson Pvt. Ltd., Hoffmann La Roche Ltd., Baxter, Novartis AG, Heron Pharma, Bendalis Gmbh, Enlivity Corporation, and ARIAD Pharmaceuticals.
Participants in the cancer supportive care products market are largely displaying interest in setting up clinical trials, and acquiring regulatory approval for new offerings in development.
For instance, Pfizer announced the FDA approval for Bavencio – avelumab for supportive care in advanced bladder cancer. Similarly, Specialized Therapeutics Asia’s NERLYNX for early breast cancer care has received approval by the National Pharmaceutical Regulatory Agency of Malaysia. Javelin Pharmaceutical Inc. has set up a promising clinical trial for second-line immunotherapy for its bladder cancer supportive care drug.
Bronchoscopes Sales to Rise 1.5x Between 2018 and 2028; Potential Covid-19 Diagnostic Applications to Generate Lucrative Growth Opportunities
Bronchoscope manufacturers remain focused on development initiatives to improve product functionality and accuracy for higher adoption amid healthcare facilities.
The bronchoscopes market is projected to expand by 1.5 to surpass a valuation of 441 Mn by the end of the forecast period in 2028.The covid-19 virus primary affects the human respiratory system. Consequently, the potential application of bronchoscopes in diagnostic and treatment procedures can potentially aid market growth throughout the crisis period. In addition, bronchoscopy applications in other chronic ailments will continue to contribute to revenue streams in the long term.
“Flexible bronchoscopes are increasingly taking over from their rigid counterparts, owing to superior functionality and applications in laser resection, biopsies, cauterization, and suctioning. Consequently, these devices are projected to witness greater demand despite higher costs,” states the FMI analyst.
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Bronchoscopes Market- Critical Takeaways
- Fiberoptic flexible bronchoscopes are gaining strong demand owing to superior infection and tumor identification functionality.
- Reusable bronchoscopes are witnessing high adoption rates, driven primarily by cost objectives of healthcare facilities.
- North America is a key market for bronchoscopes owing to the prevalence of major market players and growing cases of lung tumors.
Bronchoscopes Market- Drivers
- Improvements in terms of reimbursement policies for bronchoscopy procedures is a major factor boosting the adoption of bronchoscopes.
- Growing incidences of respiratory ailments and frequent tech innovation in bronchoscope devices contribute to market growth.
Bronchoscopes Market- Restraints
- Bronchoscopes remain limited in functionality, with difficulties in conducting bronchoscopies in areas such as upper lung lobes.
- Shortage of adequately trained and experienced healthcare professionals holds back market growth.
Coronavirus Impact on Bronchoscopes Market
The coronavirus primarily impacts respiratory systems of patients, which in turn has created niche applications of bronchoscopes for diagnostics and treatments in non-urgent cases. On the other hand, the use of reusable bronchoscopes in potential Covid-19 cases has been found to increase the risk of transmission between patients and healthcare professionals, which limit usage. Further, applications in other chronic disorders will sustain demand and sales through the crisis period.
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Novatech SA, Olympus Corp., Rochling Group, Fujifilm Holdings Corp., Shanghai AoHua Photoelectricity Endoscope Co. Ltd., Teleflex Inc., Hoya Corp., KARL STORZ GmbH & Co. KG, and Richard Wolf GmbH are some of the leading bronchoscopes market players.
Manufacturers in the bronchoscopes market are increasingly investing in strategic industry collaborations towards research and development initiatives for product improvements.
For instance, Mauna Kea Technologies has collaborated with Johnson & Johnson for clinical trials on robotic navigational bronchoscopy devices. Similarly, Auris Health has announced its collaboration with Ethicon towards robot assisted bronchoscopy ablations. Also, Hitachi is working with Hoya Corp., towards the development of products such as ultrasound bronchoscope systems among others.
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