North America fitness equipment market valuation to surpass USD 6 billion by 2026

Selbyville, Delaware, Nov. 18, 2020 (GLOBE NEWSWIRE) — According to industry experts, North America fitness equipment market size is projected to exceed USD 6 billion by the year 2026. Rising adoption of digitally connected gym equipment facilitated by the presence of an infrastructure well-equipped with the state-of-art technology is accelerating the industry growth in the region.

Proceeding further, the research literature sheds light on the industry segments including equipment type, end-use scope, and geographical bifurcation. It extends a detailed account of the leading industry players and evolving competitive landscape. In addition, the study hosts cases studies on the impact of Covid-19 and predicts its aftereffects for a stronger realization of the growth potential.

Moreover, rising focus among several companies towards providing a connected and immersive fitness experience by integrating digital technologies in machines, along with advancements in AI, cloud, and wearable technology is augmenting North America fitness equipment industry growth. For instance, Nautilus Inc., a US-based fitness equipment manufacturer, in October 2019, launched a digital platform JRNY that utilizes AI to offer customized workouts by automatically adjusting to the user behavior.  

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Besides, increasing discounts on membership subscription for ensuring long-term contracts with new customers as well as existing consumers is positively impacting the business outlook.

Covid-19 impact:

The implications of Covid-19 outbreak have rippled across all sectors; however, fitness industry has been severely affected by the pandemic. The temporary closure of all non-essential businesses, including gyms and health clubs, as mandated by the government in Q1 of 2020 has disrupted the supply-demand chain for fitness machines, thereby hindering North America fitness equipment market expansion.

On the bright side, relaxations in lockdown rules and slow reopening of gyms is likely to rejuvenate the industry in the near-future. Besides, with growing awareness regarding health and immunity during these uncertain times, the central factor for people is to maintain and boost their health at home, which is likely to propel the demand for fitness equipment.

Equipment type overview:

North America fitness equipment market from strength training segment is likely to gain considerable traction in the upcoming years. Strength training equipment aids in increasing bone density, ultimately reducing the risk of fractures. Moreover, it allays the fear of arthritis by ensuring flexibility of joints. These health benefits coupled with new product launches are boosting the segmental share.

End-use scope:

Corporates offices are slated to contribute significantly to North America fitness equipment industry remuneration with major organizations like Google, Microsoft, and Intel incorporating gyms in their infrastructure in an effort to raise employee productivity and ensure their wellbeing.

For the record, Retro Fitness, a health club franchise present in about 120 locations across the U.S., boast of a corporate sponsored wellness program that works with companies to integrate gyms in office premises. Such programs and initiatives between corporates and equipment providers will propel the segment growth in the upcoming years.

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Global Blood Ketone Meter Market to Surpass US$ 486.3 Million by 2027, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global blood ketone meter market is estimated to be valued at US$ 301.7 million in 2020 and is expected to exhibit a CAGR of 7.1% during the forecast period (2020-2027).

Key Trends and Analysis of the market:

The increasing number of product launches is expected to drive growth of the blood ketone meter market during the forecast period. For instance, in March 2020, EKF Diagnostics, the global in vitro diagnostics company, announced the launch of the U.S. FDA CLIA-waived β-ketone and glucose POC analyzer STAT-Site WB Analyzer in the U.S. market. This device is a new addition to its diabetes care portfolio in the U.S. The STAT-Site WB is a dual-use whole blood β-ketone and glucose meter for professional use in the management of diabetes.

Key manufacturers operating in the blood ketone meter market are engaged in developing more advanced products for the ease of diabetes patients. For instance, blood glucose & ketone testing meter by Foracare Inc., called FORA 6 Gtel, is a device that comes with 3G/4G connectivity. It can seamlessly transfer data to a TeleHealth System without the need for pairing it with a smartphone. With 5-Electrode Technology and strips made with gold, FORA 6 test strips ensure high accuracy and precision. It measures six parameters such as glucose, hematocrit, hemoglobin, β-ketone, total cholesterol, and uric acid in blood.

The global blood ketone meter market is expected to witness significant growth, owing to increasing partnerships and collaborations. For instance, in February 2020, the global diabetes nonprofit Beyond Type 1 announced a new collaboration with the National Association of School Nurses to create awareness about the warning signs of type 1 diabetes (T1D). With this new collaboration, awareness materials will be distributed to tens of thousands of school nurses nationally in the U.S. Moreover, Beyond Type 1 advocates will be enhancing efforts in ten target states: Arkansas, Connecticut, Florida, Massachusetts, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas.

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Key Market Takeaways:

The global blood ketone meter market is expected to exhibit a CAGR of 7.1% during the forecast period (2020-2027), owing to the rising prevalence of type 1 diabetes worldwide. For instance, according to the National Diabetes Statistics Report by Centers for Disease Control and Prevention of 2017, around 1.25 million Americans suffered from type 1 diabetes and over 300,000 Canadians lived with type 1 diabetes in 2017. Furthermore, as per the same source, over 100,000 children in India and 50,000 children and adolescents in China were living with type 1 diabetes as of 2017.

Key players in the North America blood ketone meter market are focused on launching new products, which is expected to drive growth of the market during the forecast period. For instance, in March 2020, EKF Diagnostics launched the STAT-Site WB, a blood β-ketone and glucose meter in the U.S. The device is used for measuring ketone and for the management of diabetes.

Competitive Landscape:

Key players

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Global coronavirus cases surpass the 40 million milestone

By Shaina Ahluwalia and Roshan Abraham

(Reuters) – Worldwide coronavirus cases crossed 40 million on Monday, according to a Reuters tally, as the onset of winter in the northern hemisphere fuelled a resurgence in the spread of the disease.

The Reuters tally is based on official reporting by individual countries. Experts believe the true numbers of both cases and deaths are likely much higher, given deficiencies in testing and potential under-reporting by some countries.

The Reuters data shows the pace of the pandemic continues to pick up. It took just 32 days to go from 30 million global cases to 40 million, compared with the 38 days it took to get from 20 to 30 million, the 44 days between 10 and 20 million, and the three months it took to reach 10 million cases from when the first cases were reported in Wuhan, China, in early January.

Record one-day increases in new infections were seen at the end of last week, with global coronavirus cases rising above 400,000 for the first time.

There were an average of around 347,000 cases each day over the past week, compared with 292,000 in the first week of October.

The United States, India, and Brazil remain the worst affected countries in the world. COVID-19 cases in North, Central, and South America represent about 47.27% or nearly half of global cases.

Around 247 cases are seen per 10,000 people in the United States. For India and Brazil, those numbers stand at 55 cases and 248 cases per 10,000 people respectively.

New cases are growing at over 150,000 a day in Europe, as many countries including Italy, Netherlands, Germany, Austria, Poland, Ukraine, Cyprus, and the Czech Republic have reported record daily increases in the number of coronavirus infections.

Europe currently accounts for over 17% of the global cases and nearly 22% of the deaths related to the virus worldwide.

Parts of the UK were put into lockdown as Prime Minister Boris Johnson bid to contain a second wave of infections through local measures.

France imposed curfews while other European nations are closing schools, canceling surgeries, and enlisting student medics.

President Donald Trump called for a big economic stimulus as U.S. infections surpassed eight million, with record spikes in several states.

States across the Midwest are seeing a rise in coronavirus cases, with new infections and hospitalizations rising to record levels.

India’s cumulative tally of coronavirus infections stood at 7.43 million on Saturday, with the number of active infections slipping below 800,000 for the first time in 1.5 months.

Iran, the Middle Eastern country hardest-hit by the coronavirus, extended restrictions and closures in the capital Tehran into a third week on Saturday as its death toll rose above 30,000.

Since the pandemic started, over 1.1 million people have died due to COVID-19, with the global fatality rate hovering around 2.8% of the total cases.

An official at the World Health Organization has said the global death toll from COVID-19 could double to 2 million

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Global Monoclonal Antibodies Market to Surpass US$ 368.8 Billion by 2027, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global monoclonal antibodies market is estimated to be valued at US$ 143.5 billion in 2020 and is expected to exhibit a CAGR of 14.4% over the forecast period (2020-2027).

Key Trends and Analysis of the Global Monoclonal antibodies Market:

Key trends in the market include increasing prevalence of cancer, rising regulatory approvals and launch of therapies, increasing research collaborations for the development of robust drugs pipeline, and adoption of collaboration strategies by the companies.

Rising incidence of cancer is expected to increase demand for infusion therapies, thereby contributing to significant growth of the monoclonal antibodies market. For instance, according to the World Cancer Research Fund International’s report, in 2018, breast cancer accounted for the second highest number of cancer cases worldwide, accounting for 2,088,849 new cases worldwide in 2018.

Moreover, increasing research collaborations for the development of robust drugs pipeline is a major factor that is expected to drive the market growth over the forecast period. Success of popular monoclonal antibodies such as Avastin, Herceptin, and Rituxan (revenue as US$ 6.8 Bn, US$ 7.1 Bn, and US$ 5.9 Bn, respectively in 2017 globally) has spurred manufacturers’ interest in these therapies. For instance, in 2018, Novartis AG announced entering into a partnership with MorphoSys and Galapagos for the commercialization and development of human immunoglobulin G1 (IgG1) monoclonal antibody targeting interleukin (IL)-17C.

Rising number of product approvals is expected to drive the market growth. For instance, in March 2019, AbbVie announced receiving approval for SKYRIZI (risankizumab) from Japanese Ministry of Health, Labour and Welfare (MHLW). Also, in March 2019, the U.S. FDA approved Trazimera (trastuzumab-gyyp) for the treatment of metastatic gastric adenocarcinoma and HER2 positive breast cancer.

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Key Market Takeaways:

The global monoclonal antibodies market is expected to exhibit a CAGR of 14.4% over the forecast period, owing to adoption of collaboration strategy by the market players, which is expected to drive the market growth. For instance, in July 2020, UCB announced a license agreement with Roche and Genentech for the development and commercialization of UCB0107, an investigational monoclonal antibody drug, which is a potential treatment for patients with progressive supranuclear palsy (PSP) and Alzheimer’s disease.

An increasing number of government initiatives and funding for clinical trials of drugs, which can be used in the Covid-19 treatment, is projected to favor the market growth. For instance, in March 2020, the World Health Organization launched the ‘Solidarity’ trial, which is a multinational initiative for testing old and new drugs/therapies for treating Covid-19. The trial includes testing four therapies; remdesivir, chloroquine and hydroxychloroquine, lopinavir and ritonavir, lopinavir with ritonavir and interferon-beta.

Competitive Landscape:

Key players operating in the global monoclonal antibodies market include Pfizer Inc., Novartis AG, Bayer AG, Sanofi S.A., F. Hoffmann-La Roche AG, Eli Lilly and Co., Merck & Co., Inc., GlaxoSmithKline Plc., AbbVie Inc., Bristol-Myers Squibb, and Regeneron Pharmaceuticals Inc.

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Market Segmentation:

  • Global Monoclonal Antibodies Market, By Source:

    • Human

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