Connect with us
European Gaming Congress 2024

Artificial Intelligence

Buy Now Pay Later Market Size is projected to reach USD 3.68 Trillion by 2030, growing at a CAGR of 45%: Straits Research

Published

on

New York, United States, July 26, 2022 (GLOBE NEWSWIRE) — Buy Now, Pay Later (BNPL) is a payment method that allows customers to make online and in-store purchases without having to pay the total amount in advance. Buy now, pay later is short-term financing that helps people to buy everyday items like clothes, electronics, and home renovation equipment. The point of sale (POS) installment loan mechanism allows customers to purchase things and controls reimbursement.

Retailers are offering buy now, pay later solutions that allow their consumers to purchase everyday necessities by selecting an inexpensive financing plan and paying in installments rather than the entire cost. Several business owners worldwide have been using the buy now pay later payment platform to finance massive equipment, purchase raw materials, and pay staff salaries, driving the global growth of the buy now pay later market. Furthermore, there is an increase in the adoption of buy now pay later payment technology among the youth because it provides several benefits such as purchasing a high-priced smartphone and laptop, paying tuition fees and stationery products, and paying the canteen bill, which accelerates the buy now pay later market growth.

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/buy-now-pay-later-market/request-sample 

Rise in Adoption of Online Payment Methods to Drive the Global Buy Now Pay Later Market

The growing popularity of online payment across various industries, including banking, health insurance, retail & consumer goods, has spurred the growth of the global point-of-sale installment loans business. According to the United Nations Conference on Trade and Development (UNCTAD), by 2020, more than 80% of customers worldwide will have used digital wallets to make online transactions. Furthermore, because of the global increase in e-commerce sales, there was a high demand for BNPL services in 2021. According to the Census Government Organization, retail e-commerce sales in the United States reached USD 205 billion in the third quarter of 2021.

Advertisement
Stake.com

Furthermore, according to a study conducted by the United Nations Conference on Trade and Development (UNCTAD), retail sales had climbed from 16 to 19 percent globally in 2021, bringing the total value of global e-commerce through online platforms to USD 26.7 trillion. The worldwide increase in e-commerce sales has created a substantial window of opportunity for the industry to expand throughout the forecast period.

Furthermore, rising consumer awareness of consumer electronics and health insurance services is fueling growth. According to the Reserve Bank of Australia, the value of purchase now, pay later service transactions for acquiring goods in New Zealand, and Australia in 2020 will be close to USD 10 billion. The value of BNPL services transactions is rapidly increasing due to increased demand for consumer electronics products and health insurance services.

Report Scope

Report Metric Details
Market Size USD 3680 Billion by 2030
CAGR 45% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Channel, Application, Enterprise Size, Region
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Affirm Holdings Inc, Afterpay, Amazon, Atom, Clearpay, Flipkart, Grab Pay later, Hoola, Klarna Bank AB, LatitudePay, Mastercard, Monzo, Openpay, Pace, Laybuy Group Holdings Limited, PayPal Holdings Inc., Payl8r (Social Money Ltd.), Perpay, Quadpay, Rely, Revolut, Sezzle, Splitit, LatitudePay, Visa
Key Market Opportunities Buy Now, Pay Later Platforms’ Cost-Effective and Practical Payment Service
Key Market Drivers Rise in Adoption of Online Payment Method
Rising Integration of Artificial Intelligence (A.I.) Technology

Buy Now Full Report @ https://straitsresearch.com/buy-now/buy-now-pay-later-market 

Buy Now, Pay Later Platforms’ Cost-Effective and Practical Payment Service to Provide Opportunities for the Global Buy Now Pay Later Market

Advertisement
Stake.com

Individuals benefit from the purchase now, pay later payment method in various ways, including more affordable and convenient payment services, faster credit card fund transfers at the point of sale platform, and increased personal information security, all of which contribute to the market’s growth. Furthermore, the platform includes a QR-code option, which allows customers to pay with a scannable code and complete transactions via UPI, all of which contribute to the market’s growth. Furthermore, the buy now pay later platform allows clients to make secure payments without needing a debit card, which encourages global market expansion.

Furthermore, the purchase now pay later platform provides essential benefits that assist clients in improving their credit ratings, monitoring transaction data digitally, and being reminded about payback, all of which contribute to the market’s global expansion. Retailers and merchants are increasingly using the purchase now pay later payment technology platform to increase income by selling lower-priced goods at a higher rate and offering an installment repayment option. The benefits that the purchase directly platform delivers to users and merchants fuel the market’s global expansion.

Regional Insights

By region, the global buy now pay later market is segmented into North America, Europe, Asia Pacific, and LAMEA. North America dominated the market and generated the highest revenue in 2021, accounting for around 30.0% of worldwide sales. Multiple significant enterprises are the key driver of regional market growth. Furthermore, many fintech companies in this space are cooperating with entertainment companies to provide BNPL services for booking hotels.

The Asia Pacific region is expected to have the highest CAGR during the projection period. This is primarily due to the increased acceptance of electronic payments such as PayPal, Amazon Pay, and Google Play. As a result of these online payment options, there is a high demand for the service. The growing use of online e-commerce applications has created a record-breaking market opportunity for major players.

Advertisement
Stake.com

Europe is the third-largest region due to online shoppers’ rapid adoption of services. According to the World Pay research, the purchase now, pay later fintech business, which includes companies such as Afterpay, Klarna, Affirm, and others, is growing at a 39 percent annual rate in the United Kingdom. Several major corporations are also expanding their service offerings in European countries, including France, Germany, the United Kingdom, and many others. PayPal, for example, launched its Pay in 30 Days buy now, pay later service in Germany in January 2022. The service allows users to spend up to USD 1,115.0 in 30 days without additional costs.

Key Highlights

  • The global buy now pay later market was worth USD 132 billion in 2021 and is estimated to reach an expected value of USD 3680 billion by 2030 at a CAGR of 45% during the forecast period (2022-2030). 
  • Based on channels, the global buy now pay later market has been bifurcated into online and Point-of-Sale (PoS). The online channel segment dominated the market in 2021 and accounted for the largest share of more than 64.0% of the global revenue. 
  • By application, the global buy now pay later market has been bifurcated into retail goods, media and entertainment, healthcare and wellness, automotive, home improvement, and others. The retail goods segment accounted for the largest market share. The segment for healthcare and wellness, however, is anticipated to expand at the fastest rate throughout the forecast period 
  • Based on enterprise sizes, the global market has been further categorized into Small & Medium Enterprises (SMEs) and large enterprises. With more than 61.0 percent of the global revenue share, the big enterprise segment led the market in 2021. 

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/buy-now-pay-later-market/request-sample 

The key players in the global buy now pay later market are

  • Affirm Holdings Inc.
  • Afterpay
  • Amazon
  • Atom
  • Clearpay
  • Flipkart
  • Grab Pay later
  • Hoola
  • Klarna Bank AB
  • LatitudePay
  • Mastercard
  • Monzo
  • Openpay
  • Pace
  • Laybuy Group Holdings Limited
  • PayPal Holdings Inc.
  • Payl8r (Social Money Ltd.)
  • Perpay
  • Quadpay
  • Rely
  • Revolut
  • Sezzle
  • Splitit
  • LatitudePay
  • Visa

Global Buy Now Pay Later Market: Segmentation

By Channel

By Application:

Advertisement
Stake.com
  • Retail Goods
  • Media & Entertainment
  • Healthcare & Wellness
  • Automotive
  • Home Improvement
  • Others

By Enterprise Size 

  • Large Enterprises
  • Small and Medium Enterprises

By Region 

  • North America
  • Europe
  • Asia Pacific
  • LAMEA

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Buy Now Pay Later Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Channel Overview
    1. Introduction
      1. Market Size & Forecast
    2. Online
      1. Market Size & Forecast
    3. PoS
      1. Market Size & Forecast
  5. Applications Overview
    1. Introduction
      1. Market Size & Forecast
    2. Retail Goods
      1. Market Size & Forecast
    3. Media & Entertainment
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Channel
        2. By Applications
      3. Canada
        1. By Channel
        2. By Applications
      4. Mexico
        1. By Channel
        2. By Applications
      5. Latin America
        1. By Channel
        2. By Applications
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Channel
        2. By Applications
      3. France
        1. By Channel
        2. By Applications
      4. U.K.
        1. By Channel
        2. By Applications
      5. Italy
        1. By Channel
        2. By Applications
      6. Spain
        1. By Channel
        2. By Applications
      7. Rest of Europe
        1. By Channel
        2. By Applications
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Channel
        2. By Applications
      3. China
        1. By Channel
        2. By Applications
      4. Australia
        1. By Channel
        2. By Applications
      5. India
        1. By Channel
        2. By Applications
      6. South Korea
        1. By Channel
        2. By Applications
      7. Rest of Asia-Pacific
        1. By Channel
        2. By Applications
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Channel
        2. By Applications
      3. South Africa
        1. By Channel
        2. By Applications
      4. Kuwait
        1. By Channel
        2. By Applications
      5. Rest of Middle East & Africa
        1. By Channel
        2. By Applications
  7. Company Profile
    1. Affirm Holdings Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Afterpay
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Amazon
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/buy-now-pay-later-market/toc 

Market News

  • June 2022 -PayPal Holdings Inc. declared it is adding a new business credit card to its line of credit products to help small business owners with their everyday needs for money. The PayPal Business Cashback Mastercard is the first business credit card that PayPal offers. It is issued by WebBank and runs on the Mastercard network. The card has no annual fee and gives cardholders 2% cash back on all purchases. There are no limits on how much cash back you can earn or when it expires, making it one of the best cashback rewards you can get.
  • June 2022 – PayPal Holdings, Inc. announced PayPal Pay Monthly1, WebBank’s new buy now, pay later service that lets U.S. customers spread out payments over more extended periods. With the addition of Pay Monthly, customers of PayPal will have access to a new service that gives them more ways to pay for the things they want and need.

News Media

Point of Sale Software – Stable and Easy Billing for the Future

Top 8 Mobile Banking Applications

Have a Look at the Related Research Report

Contactless Payment Market: Information by Component (Hardware, Software, Services), Industry Vertical (Retail, Hospitality, Healthcare, BFSI), and Region — Forecast till 2029

Advertisement
Stake.com

M-Commerce Market: Information by Transaction Type (M Retailing, M Ticketing, M Billing), Payment Mode (Premium SMS, Direct Carrier Billing), and Region — Forecast Period Till 2029

Credit Card Payment Market: Information by Card Type (Specialty Credit Cards), Brand (Visa, Master Card), Application (Food & Groceries, Health & Pharmacy), and Region — Forecast till 2028

Payment Processing Solution Market: Information by Payment Method (Credit Card, Debit Card, e-Wallet) and Application (IT & Telecom, Retail), and Region — Forecast till 2026           

Mobile Payment Market: Information by Mode of Transaction (NFC, WAP, SMS), Application (Business Users and Personal Users), Method (PoS and Remote Payment), and Region — Forecast till 2026

About Straits Research Pvt. Ltd.

Advertisement
Stake.com

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)

Advertisement
Stake.com

+44 208 068 9665 (the U.K.)

Email: [email protected]

Follow Us: LinkedIn | Facebook | Instagram | Twitter

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Actian Launches Zen 16.0, the Next Generation Database for Edge Computing

Published

on

actian-launches-zen-16.0,-the-next-generation-database-for-edge-computing

Latest Zen Edition Delivers Secure, Modular, and Scalable Edge Data Solutions with Seamless Synchronization from Edge to Cloud
ROUND ROCK, Texas, June 17, 2024 /PRNewswire/ — Actian, the data and analytics division of HCLSoftware, today announced the launch of Actian Zen 16.0, the newest version of its innovative embedded database. To help businesses run faster, smarter applications on the edge, Zen 16.0 is designed for real-time data processing across mobile, IoT devices, edge gateways, and complex machinery.

Actian developed Zen 16.0 to capture the growing demand for edge computing. IDC predicts edge computing will account for $232 billion in spending this year*. Zen 16.0 simplifies and optimizes edge computing for resource-constrained environments that range from industrial IoT and connected healthcare to smart cities. Actian Zen 16.0 introduces performance enhancements and new features designed to improve efficiency and functionality for the more than 13,000 organizations currently using Zen, as well as attracting new customers.
“Actian Zen16.0 is designed to meet the needs of modern embedded systems and edge computing,” said Emma McGrattan, senior vice president of engineering and product at Actian. “Its secure and scalable design allows for easy data synchronization with Zero-ETL, making it perfect for developers creating intelligent applications that can deliver real-time decisioning from edge to cloud to give a business competitive advantage.”
Zen 16.0 delivers the small footprint with fast read and write access and automatic administration that resource-constrained environments require. Zen16.0 addresses the need to support high-performance intelligent applications with minimal administration, particularly for frequent data update use cases like sensor data collection to monitor patient well-being or asset management tracking using RFID scanners.
Zen 16.0 ensures seamless data synchronization from edge to cloud, supports both SQL and NoSQL data access, and leverages popular programming languages to empower developers in building low-latency embedded applications.
“Actian Zen provides a high performance, lightweight, and self-managed embedded database for our business,” said Trent Maynard, Director of Product & Engineering at Global Shop Solutions. “Zen continues to deliver exactly what we need and we’re enthusiastic about the new capabilities of Zen 16.0 to empower our business operations even further.” 
Detailed here, Zen 16.0 includes improved L2 cache sizing, page preload for large data files, Kafka data stream support, EasySync – a new datasync utility, enhanced JSON support, Btrieve2 Python package, Docker and Kubernetes container support, and extended index key length.
*Source: IDC Press Release, New IDC Spending Guide Forecasts Edge Computing Investments Will Reach $232 Billion in 2024, March 2024
About Actian
Actian makes data easy. We deliver cloud, hybrid, and on-premises data solutions that simplify how people connect, manage and analyze data. We transform business by enabling customers to make confident, data-driven decisions that accelerate their organization’s growth. Our data platform integrates seamlessly, performs reliably, and delivers industry-leading speeds at an affordable cost. Actian is a division of HCLSoftware.
Media Contacts
Danielle LeeSenior Director – Global Analyst Relations & Public [email protected]
Ali WheelerPublic Relations [email protected]
Logo – https://mma.prnewswire.com/media/2429927/Actian_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/actian-launches-zen-16-0–the-next-generation-database-for-edge-computing-302173606.html

Continue Reading

Artificial Intelligence

Application Security Market worth $55.0 billion by 2029- Exclusive Report by MarketsandMarkets™

Published

on

application-security-market-worth-$55.0-billion-by-2029-exclusive-report-by-marketsandmarkets™

CHICAGO, June 17, 2024 /PRNewswire/ — The global Application Security Market to grow from USD 33.7 billion in 2024 to USD 55.0 billion by 2029 at a compound annual growth rate (CAGR) of 10.3% during the forecast period, according to a new report by MarketsandMarkets™. The application security (AppSec) market is expanding rapidly due to the growing reliance on applications and the escalating threat of cyberattacks. The increasing frequency and sophistication of these attacks are driving the demand for strong AppSec solutions, a trend likely to persist. As organizations shift to cloud-based applications, new security challenges arise, requiring AppSec solutions that can adapt and provide robust controls. AppSec vendors are creating user-friendly tools that integrate smoothly with developer workflows, promoting an early vulnerability detection approach. Small and medium-sized enterprises (SMEs) and organizations with limited security resources are turning to Managed Security Service Providers (MSSPs) for affordable expertise and tools. The extensive use of open-source software (OSS) also presents unique security issues, leading to the evolution of AppSec solutions to effectively secure open-source code.

Browse in-depth TOC on “Application Security Market”
200 – Tables 50 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110170194
Scope of the Report
Report Metrics
Details
Market size available for years
2018–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
By Type, By Component, By Organization Size, By Deployment mode, By Vertical, and By Region
Geographies covered
North America, Europe, Asia Pacific, Middle East Africa, and Latin America
Major companies covered
Major vendors in the global Application Security Market include IBM (US), HCL (India), Synopsys (US), Microfocus (UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US), Fortinet (US), Checkpoint (Israel), Broadcom (US), Palo Alto Networks (US), Qualys (US), Rapid7 (US)
By Component, the services segment will grow at the highest CAGR during the forecast period.
The cybersecurity skills gap persists as a significant challenge, but AppSec services offer a solution by providing access to experienced security professionals who can design, implement, and manage effective application security programs. These services bring specialized expertise in areas like penetration testing, security code reviews, and vulnerability assessments, complementing standard solutions and addressing complex security challenges. Navigating data privacy regulations and industry-specific security standards can be daunting, but AppSec services provide compliance guidance, helping organizations efficiently meet regulatory requirements. Managed Security Service Providers (MSSPs) play a crucial role in the AppSec services market, offering comprehensive security solutions such as AppSec assessments, vulnerability management, and ongoing monitoring, which is cost-effective and beneficial for organizations with limited security resources. AppSec services are also evolving to integrate seamlessly with DevSecOps workflows, allowing security professionals to collaborate with developers in identifying and addressing vulnerabilities early in the development lifecycle. Moreover, these services increasingly include security awareness training programs to educate employees on recognizing and mitigating security threats, complementing technical controls with essential human vigilance.
Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=110170194
By Type, the Mobile Application Security segment will grow at a higher CAGR during the forecast period.
The mobile application security segment within the broader application security (AppSec) market is experiencing rapid growth due to the widespread use of smartphones and the proliferation of mobile apps. With an ever-increasing number of mobile applications across diverse industries, ensuring their security has become a paramount concern. The trend of Bring Your Own Device (BYOD) further complicates security efforts, as personal devices may lack the same level of security controls as corporate-issued ones. Mobile AppSec solutions must address these concerns while complying with data privacy regulations governing the collection and storage of sensitive user data. Integrating security throughout the mobile app development lifecycle is crucial, with solutions tailored to seamlessly integrate with developer workflows to promote early vulnerability detection and remediation. Mobile AppSec solutions need to cater to the specific security requirements of both iOS and Android platforms, each with its own vulnerabilities and testing methodologies. Techniques like app shielding and code obfuscation are also being employed to deter attackers from reverse engineering and exploiting vulnerabilities within mobile applications.
Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=110170194
By region, Asia Pacific will grow at the highest CAGR during the forecast period.
The Asia Pacific region is undergoing significant growth in its Application Security Market, driven by several key factors. As industries undergo rapid digital transformation, there’s a heightened need for robust security measures to protect interconnected systems. Moreover, the region faces increasing cyber threats, prompting businesses to prioritize application security as a crucial defense mechanism. Stricter data privacy regulations, akin to data protection laws in Europe, mandate strong security practices for handling personal data, further driving market demand. Cloud adoption is surging, leading to a need for cloud-native security solutions that effectively protect applications in cloud environments. Managed Security Service Providers are becoming popular, especially among SMEs, offering cost-effective access to security expertise. Additionally, the adoption of agile and DevOps methodologies necessitates application security solutions that seamlessly integrate with development workflows. Despite challenges such as low awareness of security best practices, skills shortages, and budget constraints, the long-term outlook for the Asia Pacific Application Security Market remains highly positive. Factors like digitalization, cyber threats, and data privacy regulations are expected to sustain market growth, alongside trends like cloud computing and managed security services adoption.
Top Key Companies in Application Security Market:
Major vendors in the global Application Security Market include IBM (US), HCL (India), Synopsys (US), Microfocus (UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US), Fortinet (US), Checkpoint (Israel), Broadcom (US), Palo Alto Networks (US), Qualys (US), Rapid7 (US).
Browse Adjacent Market: Information Security Market Research Reports & Consulting
Browse Other Reports:
Secure Multiparty Computation Market – Global Forecast to 2029
Managed Detection and Response Market – Global Forecast to 2029
Exposure Management Market- Global Forecast to 2029
Workplace Safety Market- Global Forecast to 2028
IDaaS Market- Global Forecast to 2028
Get access to the latest updates on Application Security Companies and Application Security Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/application-security-market-worth-55-0-billion-by-2029–exclusive-report-by-marketsandmarkets-302172900.html

Continue Reading

Artificial Intelligence

Membrane Chromatography Market to Reach USD 637 Million with 14.7% CAGR | MarketsandMarkets™

Published

on

membrane-chromatography-market-to-reach-usd-637-million-with-14.7%-cagr-|-marketsandmarkets™

CHICAGO, June 17, 2024 /PRNewswire/ — The membrane chromatography market is poised to grow significantly, with a projected value of USD 637 million by 2029, reflecting a robust CAGR of 14.7% from an estimated USD 321 million in 2024. This growth is primarily fueled by the escalating production of biopharmaceuticals like vaccines and monoclonal antibodies, coupled with increased R&D activities in the biopharmaceutical sector. Key players in this market include Danaher Corporation (US), Sartorius AG (Germany), Merck KGaA (Germany), and Thermo Fisher Scientific Inc. (US), who employ strategies such as new product launches, acquisitions, agreements, collaborations, and geographical expansions to bolster their market presence. Danaher Corporation is known for its extensive range of life science and diagnostic products, investing heavily in R&D, while Sartorius AG stands out for its global reach and strategic collaborations like the one with Waters Corporation for downstream biomanufacturing. Merck KGaA, on the other hand, is recognized for its comprehensive solutions and ongoing investments in R&D, as demonstrated by its substantial investment in membrane and filtration manufacturing capabilities in Cork, Ireland.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=151487196
Browse in-depth TOC on “Membrane Chromatography Market”416 – Tables52 – Figures348 – Pages
DRIVER: Catalyzing Growth Through Increased Biopharmaceutical R&D
As C-level executives, you’re aware of the pivotal role R&D plays in the biopharmaceutical sector, especially amidst the escalating demand for treatments targeting chronic illnesses. The robust increase in R&D investments, exemplified by a significant uptick in spending among Spanish biotech firms in 2022, underscores the driving force behind the membrane chromatography market’s expansion.
RESTRAINT: Slow Adoption in Large-Scale Manufacturing
Despite its promising advantages, membrane chromatography encounters obstacles when it comes to scaling up for large-scale operations. Challenges such as membrane degradation and fouling, coupled with the entrenched dominance of traditional column chromatography, impede widespread adoption. These complexities, alongside the risks of process disruption and quality compromises, restrain the market’s growth within large-scale manufacturing.
OPPORTUNITY: Embracing Single-Use Technologies for Enhanced Efficiency
The shift towards single-use membrane chromatography systems presents a compelling opportunity for executives seeking efficiency gains. These systems offer tangible benefits, including reduced contamination risks and lower capital investments. Collaborative efforts, like the partnership between W. L. Gore & Associates, Inc. and AGC Biologics, signal a strategic move towards streamlining downstream purification processes and maximizing productivity.
CHALLENGE: Competing with Alternative Techniques
In the landscape of membrane chromatography, executives must navigate the challenge posed by alternative techniques such as protein crystallization and capillary electrophoresis. These methods, renowned for their simplicity and cost-effectiveness, present formidable competition, potentially diverting market focus from membrane chromatography solutions and posing a significant hurdle to its sustained growth.
Global Membrane Chromatography Industry Ecosystem Analysis
Executives operating within the membrane chromatography industry are part of a multifaceted ecosystem encompassing raw material suppliers, manufacturers, and end users ranging from pharmaceutical giants to academic institutions. Product portfolios span from essential syringe filters to advanced membrane sheets, catering to diverse needs across the sector’s spectrum.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=151487196
Flow-Through Membrane Chromatography Leads Industry Growth in 2023
The dominance of flow-through membrane chromatography in 2023 underscores a strategic focus on biologics development, particularly monoclonal antibodies. The segment’s ascendancy is further fueled by the industry’s quest for efficient chromatography operations, positioning it as a key driver in the membrane chromatography market.
Pharmaceutical & Biopharmaceutical Companies Drive Market Growth
In 2023, pharmaceutical and biopharmaceutical companies emerged as the dominant force within the membrane chromatography landscape, buoyed by the escalating demand for biotherapeutics. The segment’s robust growth trajectory is propelled by increased R&D investments aimed at advancing biopharmaceutical products, solidifying its pivotal role in the membrane chromatography market.
North America Commands Membrane Chromatography Market in 2023
North America’s commanding presence in the membrane chromatography market during 2023 underscores its status as a key hub for biopharmaceutical development and manufacturing. With significant investments in R&D and a well-established healthcare sector, North America leads the global market, followed closely by Europe and the Asia Pacific, reflecting the region’s pivotal role in driving industry innovation and growth.
Recent Innovations Shape Membrane Chromatography Landscape
Thermo Fisher Scientific Inc. Enhances Presence in Asia Pacific with New FacilityIn February 2024, Thermo Fisher Scientific Inc. fortified its position in the Asia Pacific market with the inauguration of a sterile drug facility in Singapore. This strategic investment aligns with the company’s commitment to delivering new medicines and vaccines, complementing enhanced research capabilities at its Customer Experience Center and Bioprocess Design Center. The Customer Experience Center, equipped with a wide array of products spanning molecular biology, genetic analysis sequencing, chromatography mass spectrometry, and cell therapy, underscores Thermo Fisher Scientific’s dedication to innovation and customer-centric solutions.Agilent Technologies Invests in Nucleic Acid Therapeutics ManufacturingJanuary 2023 witnessed Agilent Technologies’ significant investment of USD 725 million to expand its manufacturing capacity for nucleic acid-based therapeutics. This expansion underscores Agilent’s commitment to meeting the growing demand for advanced therapeutics, positioning the company as a key player in the evolving landscape of nucleic acid-based treatments.Sartorius AG Expands Portfolio Through Novasep AcquisitionIn February 2022, Sartorius AG bolstered its chromatography capabilities with the acquisition of Novasep’s chromatography division. This strategic move enables Sartorius to access a portfolio tailored for smaller biomolecules like oligonucleotides, peptides, and insulin, as well as innovative systems for continuous biologics manufacturing. By integrating Novasep’s offerings, Sartorius aims to diversify its revenue streams and strengthen its position as a leading provider of chromatography solutions.3M Introduces Breakthrough Solution for Protein Therapeutic ManufacturingJune 2021 marked the launch of 3M Harvest RC clarifier, a revolutionary single-stage purification solution designed for recombinant protein therapeutic manufacturing. This innovation underscores 3M’s commitment to advancing bioprocessing technologies, offering a streamlined and efficient solution for protein purification, thereby enhancing manufacturing efficiency and product quality.For more information, inquire now! Inquire Now
Related Reports:
Chromatography Instruments Market
Chromatography Accessories & Consumables Market
High Performance Liquid Chromatography Market
Gas Chromatography Market
Life Science Instrumentation Market
Get access to the latest updates on Membrane Chromatography Companies and Membrane Chromatography Market Share
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/membrane-chromatography-market-to-reach-usd-637-million-with-14-7-cagr–marketsandmarkets-302172920.html

Continue Reading

Trending