Harshal J Profile

Snacks Processing Equipment Market by Type (Conveyers, Sorting, Dryers, Mixing, Cutting, Coating, Packaging, Mode of Operation (Semi/Manual, Automatic), Snack Type (Chips, Extruded Snacks, Bakery & Confectionery), and Geography – Global Forecast to 2030

The Snacks Processing Equipment Market is projected to reach $1.7 billion by 2030, at a CAGR of 6% during the forecast period 2023–2030. The growth of the snacks processing equipment market is driven by the growing consumption of healthy snacks, the rising demand for processed/convenience foods, and consumers’ increased focus on food hygiene since the COVID-19 pandemic. However, the high cost of snack processing equipment restrains the growth of this market. Furthermore, increasing government support for the food processing industry is expected to generate growth opportunities for the players operating in this market. However, the shortage of trained labor and consumers’ increasing inclination toward minimally processed food products are major challenges impacting the market’s growth.

Veterinary Molecular Diagnostics Market by Product (Kits & Reagents, System & Software), Technology (PCR, Microarray, DNA Seq), Animal Type (Companion, Livestock), Application (Infectious Disease, Genetics), End User (Hospital, Clinical Lab) – Forecast to 2029

The Veterinary Molecular Diagnostics Market is expected to grow at a CAGR of 9.2% from 2022 to 2029 to reach $1.13 billion by 2029. Factors such as the growing pet animal population, high animal healthcare expenditure, ongoing advancements in veterinary molecular diagnostics, and the high sensitivity and specificity of MDx tests are supporting the market growth. Moreover, emerging markets, advancements in veterinary diagnostics technologies, and increasing efforts by organizations to promote animal welfare are expected to offer opportunities for the global veterinary molecular diagnostics market.

Veterinary Rapid Diagnostic Tests Market by Product (Kits, Readers), Condition (Viral, Parasitic, Bacterial Infections), Animal (Companion [Dogs, Cats], Livestock), and End User (Clinics & Hospitals, Reference Labs, Home Testing) – Global Forecast to 2030

The Veterinary Rapid Diagnostic Tests Market is expected to record a CAGR of 8.1% from 2023 to 2030, reaching $1.1 billion by 2030. The growth of this market is driven by the increasing prevalence of zoonotic diseases, the advantages of rapid tests over other testing methods, the growing preference for at-home and farm testing, rising awareness regarding veterinary health, increasing global animal health expenditure, and the increasing demand for animal-derived food products.

However, the lack of reimbursements and the preference for certain traditional diagnostic methods restrain the growth of this market. Additionally, emerging markets and increasing pet ownership are expected to create growth opportunities for the stakeholders in this market. However, the inadequate diagnostic infrastructure in developing countries and farmers’ lack of awareness regarding animal health are major challenges to market growth.

Fungal Protein Market By Type (Fusarium Venenatum Extract, Mushrooms, Yeast Extract), Application (Food & Beverage {Beverages, Bakery}, Animal Nutrition {Poultry Feed, Aquafeed}, Pharmaceuticals, and Other Applications), and Geography – Global Forecast to 2029

In terms of value, the global fungal protein market is projected to reach $397.5 million by 2029, at a CAGR of 7.6% from 2023 to 2029. Moreover, this market is projected to reach 23,185 tons by 2029, at a CAGR of 6.2% during the forecast period 2023–2029.The popularity of fungal protein is on the rise as it is rich in proteins, vitamins, folic acid, and minerals, making it an ideal choice for use in both human food & beverages, animal feed, and pharmaceutical applications.

The growth of the fungal protein market is primarily driven by the growing demand for allergen-free foods, the rising consumption of processed foods, and the increasing demand for meat substitutes. Additionally, the rising adoption of yeast extract in the processed foods industry and emerging economies in Asia-Pacific and the Middle East are expected to provide significant market growth opportunities. However, undefined regulatory guidelines are expected to restrain the growth of this market.

Robotic Welding Market by Component (Robots, End of Arm Tooling, Controllers), Welding Process, Payload (Less than 25 kg Payload, 25 kg to 100 kg Payload, More than 100 kg Payload), End-use Industry, and Geography – Global Forecast to 2029

The Robotic Welding Market is expected to reach $6.77 billion by 2029, at a CAGR of 6.2% during the forecast period of 2022–2029. By volume, this market is expected to reach 163.3 thousand units by 2029, at a CAGR of 11.2% from 2022 to 2029. The growth of this market is driven by the increasing adoption of industry 4.0 principles and the rising adoption of welding robots in the automotive industry. However, the high initial cost of installing welding robots is expected to restrain the growth of this market.

Government initiatives to support digital transformation in Asia-Pacific and the emergence of laser & plasma welding technologies are expected to provide significant growth opportunities for stakeholders in this market. However, the lack of skilled workers for operating welding robots is expected to pose a major challenge to the growth of this market.

Artificial Intelligence in Medical Diagnostics Market By Component (Software, Services), Specialty (Radiology, Cardiology, Neurology, Obstetrics/Gynecology, Oncology), Modality (MRI, CT, X-ray, Ultrasound), End User (Hospital, Diagnostic Center) – Global Forecast to 2029

The Artificial Intelligence in Medical Diagnostics Market is expected to reach $9.38 billion by 2029, at a CAGR of 36.2% from 2022 to 2029. Artificial intelligence (AI) in medical diagnostics is a powerful tool that has the potential to make healthcare more accessible and affordable by assisting healthcare providers in making accurate and quick treatment decisions for their patients. The accurate diagnosis of a disease takes years of medical training and is a time-consuming process. The use of AI in medical diagnosis has proven to give accurate diagnoses, aid in clinical decisions, and enhance physicians' judgment.

AI in medical diagnostics includes AI solutions that aid physicians with medical decision-making. AI-based solutions can be used to diagnose cancer, triage critical findings in medical imaging, flag acute abnormalities, help radiologists prioritize life-threatening cases, diagnose cardiac arrhythmias, predict stroke outcomes, and help with the management of chronic diseases.

The growth of this market is driven by the growing need for the adoption of AI in medical diagnosis to reduce errors, the shortage of healthcare professionals, and the rising incidence rate of chronic diseases. In addition, the growth potential in emerging economies and the growing number of cross-industry partnerships & collaborations are expected to provide significant growth opportunities for this market.

However, the reluctance to adopt AI technologies due to a lack of trust is expected to restrain the growth of this market. In addition, factors such as regulatory barriers and privacy & security concerns are the major challenges to the growth of this market

Veterinary Practice Management Software Market by Delivery Mode (On-Premise, Cloud), Practice Type (Companion Animals, Mixed Animals, Food Producing, Equine), End User (Hospitals, Referral/Specialty, Ambulatory Services) – Global Forecast to 2028

The Veterinary Practice Management Software Market is expected to grow at a CAGR of 7.7% from 2021 to 2028 to reach $539.7 million by 2028. Veterinarians use veterinary practice management software for treatment planning, managing patient information, scheduling, communicating with patients, and supporting back-office functions, such as accounting and payments. This software is used by veterinary hospitals, referral practices, and ambulatory veterinary clinics to assist in their daily operations.

Increasing pet ownership, the growing risk of developing chronic & infectious diseases in companion & livestock animals, and the growing number of strategic partnerships resulting in product innovation and software integration have been considered to have a positive impact on the veterinary practice management software market

Frozen Seafood Market by Category (Fish, Crustaceans, Shellfish, Molluscs) and Distribution Channel (B2B [Food Services, Food Manufacturers], B2C [Offline {Supermarkets & Hypermarkets, Convenience Stores}, Online]) – Global Forecast to 2029

The Frozen Seafood Market is expected to reach $74.34 billion by 2029, at a CAGR of 5.6% during the forecast period of 2022 to 2029. The rising consumption of seafood, increase in awareness of the health benefits of seafood, and the growing numbers of supermarkets & hypermarkets are the key factors driving the growth of the frozen seafood market. Furthermore, the growing adoption of quick freezing technology to freeze seafood is expected to provide a significant opportunity for the players operating in this market.

Industrial Safety Market by Type, Offering (Hardware, Software), End User (Oil & Gas, Energy & Power, Chemicals), and Geography—Global Forecasts to 2030

The Industrial Safety Market is projected to reach $ 17.86 billion by 2030, at a CAGR of 11.1% from 2023 to 2030. The growth of this market is attributed to the need for reliable safety systems to ensure personnel and asset protection, stringent regulations for workplace safety, and the growth of the oil & gas sector driving the adoption of industrial safety systems. However, the high installation costs of industrial safety systems are expected to restrain the growth of this market. Furthermore, the increasing usage of industrial internet-of-Things is expected to offer potential growth opportunities. Failure to access all machinery-related risks is a challenge for this market.

Sugar-free Products Market by Type (Beverages, Food Products, Tabletop, Others); Sweetening Type (Sugar Substitute-sweetened Sugar-free Products, Naturally Sweetened); Distribution Channel (Supermarkets & Hypermarkets, Others) – Global Forecasts to 2029

The Sugar-free Products Market is Expected to reach $65.31 Billion by 2029 at a CAGR of 6.2% from 2022 to 2029. Sugar-free products are low-calorie products comprising zero sugar. They are sweetened with sugar substitutes and offer a taste similar to sugar. These products are a healthy alternative to products that contain sugar as they help reduce calories and help prevent diabetes & obesity.

The growth of this market is driven by factors such as the rising incidence rate of diabetes, the rising demand for low-calorie foods, and sugar taxes imposed on sugary drinks. However, the higher prices of sugar-free products restrain the growth of this market.