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Cruise Market Size to Hit USD 22.8 Billion at a CAGR of 11.5% by 2032 | Market.us

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New York, May 01, 2023 (GLOBE NEWSWIRE) — The global Cruise Market size was valued to be worth USD 7.9 billion in 2022. From 2023 to 2032, it is estimated to reach USD 22.8 billion growing at a CAGR of 11.5%. A cruise is a multi-day holiday schedule that is arranged on a cruise ship in a large inland area while visiting a lot of tourist destinations along the way. During this kind of excursion, the rooms on the ship and tourist hotspots get most of the attention. The growing hospitality and tourism sectors driving the global cruises market.

Ships are integrating advanced technology, a wide range of fun activities, and entertaining themes for passengers, including yoga themes, kid themes, mystery themes, and others. Such developments are attracting various populations and becoming extremely popular with the intended demographic, which is driving the cruise industry.

Cruise Market

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Key Takeaway:

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  • By type, in 2022, the Cruise Market was dominated by the Ocean Cruises segment due to its increased travel in large numbers.
  • In 2022, North America dominated the market with the highest revenue share of 50%.
  • APAC is anticipated to have the highest CAGR among all the regions.

Factors affecting the growth of the Cruise Market Industry

There are several factors that can have an impact on the growth of the Cruise Market industry. Some of these factors include:

  • Economic conditions: Strong economic growth frequently leads to more disposable income, which can increase spending on leisure activities including cruising.
  • Demographic Trends: As the population ages, demand for cruises tends to increase as older adults have more leisure time and funds to spend on travel.
  • Technological Advancements: New technology has made cruising more appealing to consumers, such as faster Wi-Fi and improved entertainment options on board.
  • Health Concerns: The COVID-19 pandemic has had a significant effect on the cruise industry, leading to reduced demand and enhanced safety measures. As the crisis ends, the industry should recover, but consumers may continue prioritizing health and safety when making travel decisions.
  • Competition: The cruise industry is highly competitive, necessitating companies to innovate and stand out to attract customers. New players in the market may disrupt existing players and cause changes in pricing and offerings.

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Top Trends in Cruise Market

The global cruise market is expanding to meet the increasing demand for luxurious experiences, multigenerational travel, wellness and health, sustainability initiatives, and digital disruption. Cruise lines that can predict these trends and respond appropriately are likely to achieve success in an increasingly competitive cruise market. River cruising has become increasingly popular across Europe and Asia in recent years. River cruises provide an intimate setting, featuring smaller ships and offering access to remote destinations. Sustainability has become a top priority within the cruise industry, with many lines adopting eco-friendly practices such as using renewable energy sources, decreasing single-use plastics usage, and encouraging responsible tourism practices.

Cruise lines are increasingly investing in technology to enhance passenger experiences, from mobile apps and wearable devices to virtual reality headsets and AI-powered assistants. Wellness and health have become major priorities within the cruise industry, with many lines offering onboard fitness facilities, healthy dining options, and wellness-themed activities. Cruise lines are responding to this trend by offering family-oriented amenities like onboard water parks and kids clubs, luxurious and experiential cruises are seeing a revival in the cruise market, with travelers demanding amenities such as private balconies and exclusive dining venues. Many are seeking authentic cultural encounters; cruise lines have responded by providing shore excursions that showcase local customs, traditions, and cuisine.

Market Growth

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The cruise industry has seen tremendous growth due to rising disposable incomes, an increased leisure travel preference, and an expansion in cruise destinations. They have also invested heavily in advanced technology, creative experiences, and sustainable business methods which have attracted new consumers. Cruise lines have implemented various initiatives to reduce their environmental impact, such as investing in clean technologies and reducing waste generation. This has resonated well with environmentally conscious consumers, who are increasingly looking for eco-friendly travel options.

Regional Analysis

With a 50.0% revenue share, North America dominated most of the cruise market. mainly because of the broad presence of important global firms and its advanced industry. Growing consumer spending trends, higher levels of disposable income, and expanding tourism are all contributing to a significant rise in market revenue share. With a CAGR of 12.1%, the Asia Pacific region is anticipated to grow at a rapid speed in during the projection period. Due to government efforts to encourage tourism and enhance economic productivity, the cruise industry’s activity has shifted away from North America and Europe and towards Asia-Pacific.

For instance, in an aim to boost cruise tourism, the Indian government announced on August 19th, 2020 the rates will be decreased to 70.0%. With a share of around 25.0% in worldwide sales, Europe came in second place in 2021 and therefore is projected to expand at an impressive CAGR. The expansion of the business has been linked to a growth in demand for sustainable tourism, which in turn makes local communities more accessible to small and medium-sized tour operators.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 7.9 billion
Market Size (2032) USD 22.8 billion
CAGR (from 2023 to 2032) 11.5%
North America Revenue Share 50.0%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

  • Consumer Demand: As more travelers look for unique vacation experiences, demand for cruise lines has increased significantly in recent years. Due to cruise line’s efforts to meet demand by growing their fleets and introducing additional routes, the sector has sustained growth.
  • Innovation: Cruise lines continuously innovate and add new amenities and features to attract passengers. This ranges from entertainment choices to advanced technology and innovative dining experiences.
  • Growth of Cruise Line Offerings: To appeal to a variety of travelers, cruise companies are expanding their offerings to include niche markets like adventure cruises, river cruises, and small-ship cruising.

Market Restraints

Earthquakes and hurricanes can alter cruise itineraries and influence passenger safety. The demand for cruises and the preparation of itineraries are also impacted by terrorism or political instability. Because of the high cost of construction and maintenance, there are fewer market participants, less competition, and less pricing flexibility. Also, the need for cruise lines to invest in more expensive, cleaner technology to lessen their environmental impact contributes to increasing operational costs, which in turn diminish profit margins.

Contagious disease outbreaks like COVID-19 can harm the reputation of the cruise industry and decrease customer trust in sailing. This can lead to a decline in demand and income for cruise lines. Cruising is primarily a seasonal activity, with summer vacations being the most popular time to go. Profitability for cruise businesses is impacted by off-peak revenue and reduced occupancy rates. Bad media coverage, such as stories of passenger injuries or crimes, reduces the overall number of reservations and affects customer confidence in cruising.

Market Opportunities

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The global shipping sector offers a variety of opportunities for growth and development, including emerging economies, eco-friendly travel, technical advances, specialized cruises, upselling opportunities, and partnerships. The cruise business has tremendous potential development in emerging fields like South America and Asia. These territories are contributing to a rise in travel demand, providing cruise firms with a broad customer base. New technologies like artificial intelligence, virtual reality, and the Internet of Things have the potential to improve cruise line efficiency levels even while improving passenger experiences on board.

Specialist cruises, such as wellness cruises, adventure cruises, and culinary cruises can appeal to niche markets and give cruise lines a chance to stand out from competitors. Offering onboard services and facilities like spa treatments, shore excursions, and specialty dining options may help cruise companies make more money. Cruise lines may be able to increase their market reach and provide clients with greater all-inclusive travel experiences through partnerships and collaborations with other travel businesses like airlines and hotels.

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Report Segmentation of the Cruise Market

Type Insight

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The cruise market is divided into ocean cruises and river cruises based on type. With an expected total revenue of 80%, the Oceans Cruises category is the most profitable of these in the worldwide cruise business. Strong competitors can offer services in the ocean cruises category for numerous transcontinental trips to account for the larger market revenue share. Additionally, a large number of customers prefer ocean cruises to other types of cruises because of the attractive packages, amenities, and entertainment choices. Large ocean cruise ships, which have greater space than the others, can support these activities. The CAGR for the worldwide river cruise industry is predicted to be 13.3%, making it the market with the fastest growth. The increasing size of river cruises compared to ocean cruises, which often dock along coastal regions, can be attributed to their rising popularity among tourists.

Recent Development of the Cruise Market

  • In 2021, many cruise lines began their operations again after being suspended due to the COVID-19 pandemic. Some lines, such as Royal Caribbean and Celebrity Cruises, require all passengers to be fully vaccinated before embarking on their voyages.
  • Despite the pandemic, several new ships were launched in 2021. Royal Caribbean’s Odyssey of the Seas, Carnival Cruise Line’s Mardi Gras, and MSC Cruises’ Virtuosa.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/cruise-market/request-sample/

Market Segmentation

Based on Type

  • Ocean Cruises
  • River Cruises

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

The cruise market is highly competitive, with numerous players operating globally. The competitive landscape of the cruise market is constantly shifting, with players competing on factors such as itinerary offerings, pricing, onboard amenities, and sustainability practices. Furthermore, new entrants such as Virgin Voyages and Ritz-Carlton Yacht Collection are entering this space to offer unique experiences to attract a younger demographic of passengers. Some of the major players include:

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  • Carnival Corporation & Plc
  • Royal Caribbean Group
  • MSC Cruises S.A.
  • Norwegian Cruise Line Holdings Ltd.
  • Disney Cruise Line
  • Genting Hong Kong Limited
  • Fred. Olsen Cruise Lines
  • Other Market Players

Browse More Related Reports:

  • Adaptive cruise control system market was valued at USD 34.7 billion in 2022 and is expected to grow to USD 65 Billion. Between 2023 and 2032, this market is estimated to register a CAGR of 6.6%.
  • Autonomous vehicles market size is expected to be worth around USD 3,444.1 Bn by 2032 from USD 140.8 Bn billion in 2022, growing at a CAGR of 38.8% during the forecast period from 2023 to 2032.
  • Advanced Driver Assistance Systems Market size is expected to be worth around USD 118 Billion by 2032 from USD 32.9 Billion in 2023, growing at a CAGR of 14% during the forecast period from 2022 to 2032.
  • Recreational Boat Market was valued at USD 33.6 Billion in 2022 and is expected to reach USD 58.8 billion between 2023 and 2032, this market is estimated to register a CAGR of 5.9%.

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Artificial Intelligence

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

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

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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.
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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.
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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.
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Artificial Intelligence

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

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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.

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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.
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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/
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