How is Rising Prevalence of Acne Contributing to Growth of U.S. Scar Treatment Market?

“Acne is the most common skin condition in the United States, affecting up to 50 million Americans annually.” Says the American Academy of Dermatology (AAD). This common disease leads to nasty scars on the skin, which is a key reason people in the country go for a range of cosmetic and personal care products. Other kinds of common scars in the country are hypertrophic scars and keloids, which drastically degrade the appearance, and with people becoming increasingly conscious of their looks, cosmetic and personal care companies are making good money.

Another key reason topical products are so popular is that apart from reducing the appearance of mature scars, they prevent their formation in wounds that have freshly healed. With the increasing incidence of wounds in the country, the demand for topical treatments is rising. The U.S. accounts for one of the highest volumes of surgeries in the world, for both essential and elective purposes. Since surgeries often include incisions into the skin, the prevalence of post-surgical scars is rather high in the nation.

With time, silicone-based topical scar treatment products have gained widespread popularity among the masses. They are effective on a wide range of scars, such as stretch marks and hypertrophic, acne, keloidal, and post-surgical scars. Such products reduce the darkness of the scars, as well as their size, which is why silicone gels, sprays, gel sheets, and creams are witnessing rapidly increasing sales. As a result, numerous types of silicone-based products have been launched in the country for scar treatment, including Avosil Scar Care ointment, ScarAway, and Kelo-Cote and Kelo-cote spray.

Moreover, the easy availability of these and other scar treatment products on online platforms has led to their increasing sales. Due to the rising internet penetration in the country, e-commerce activities are picking up. Online shopping portals offer numerous facilities, such as cashless payments, home delivery, offers and discounts, easy returns, and freedom to compare similar products by different brands. Thus, cosmetic and personal care companies in the U.S. scar treatment market are rapidly establishing an online presence, as well as offering their products on popular e-commerce platforms.

Get More details U.S. Scar Treatment Market Segmentation Analysis

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What Role Government Authorities Play in U.S. Medical Equipment Maintenance Market Growth?

With every passing day, the dependence of humans on technology and machines is increasing. In healthcare for example, till at least the last decade of the 19th century, most diagnoses were made by doctors using nothing but their medical knowledge and skill, which wasn’t always accurate. Now, imaging systems, vital sign monitors, pathology machines, such as blood or urine analyzers, and several other electrical systems are a common sight at healthcare settings. Their importance in diagnosis and surgery makes then run throughout the day, seven days a week, which leads to wear and tear.

Preventive, operational, and corrective are the three types of repair services provided for medical devices and systems. Among these, healthcare entities in the country majorly go for preventive services, as these are provided via annual maintenance contracts (AMC), which are quite popular among customers here. AMCs generally offer numerous service cycles for a fixed payment every year, which comes out to be cost-effective for healthcare providers. Additionally, preventive maintenance is essential to keep the systems in prime operating conditions, so that unexpected breakdowns can be avoided.

Apart from the need to keep their systems in optimum condition and prevent breakdowns and operational calamities, another factor which pushes medical firms to regularly service their equipment is the strict government regulations imposed on the healthcare sector. With medical devices being used on lots of sick people every day, the chances of hospital-acquired infections (HAI) increase. As per the Centers for Disease Control and Prevention (CDC), one in every 31 patients gets an HAI in the country every day. As maintenance services also include a thorough cleaning of the equipment, health centers are mandated to avail of those.

The companies in the U.S. medical equipment maintenance market provide these solutions for imaging, electromedical, life-support, surgical, and dental equipment, and endoscopes. Imaging equipment is the most regularly serviced of all, as it is more expensive than others and premature replacement due to avoidable factors would lead to unnecessary expenditure for medical centers. This is also attributed to the increasing procurement of X-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), nuclear imaging, and other such diagnostically and surgically important systems in the country.

Hence, with a rise in the installation of medical equipment in the U.S., the demand for their maintenance and repairs would also increase.

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Exploding Demand Expected for Off-Highway Electric Vehicles in Near Future

The revenue of the off-highway electric vehicles market in 2030 will be $97,754.1 million, compared to an estimated $16,908.6 million in 2021, and it will witness a massive 21.5% CAGR between 2021 and 2030. The key reason behind it would be the technological advancements in electric propulsions, which have already been widely tested and adopted in on-road vehicles.

Key advancements in this regard include a higher battery capacity and power output, both of which are essential for the success of EVs. Moreover, all this must happen without an increase in the price of batteries, which remains a key concern for those switching or seeking to switch to electric mobility for on- and off-road purposes.

Another major driver for the sale of such vehicles is the growing demand for low-emission and -noise machines in the construction sector, as they can operate in densely populated areas and even indoors.

Thus, the BEV category dominates the off-highway electric vehicles market in the propulsion segment. The absence of the diesel engine not only makes BEVs emission-free, but also extremely quiet.

This is also consistent with construction being the largest application area of off-highway electric vehicles. The global population boom is making the construction of civic, industrial, commercial, and residential infrastructure necessary.

In this regard, the stringent emission regulations being implemented on conventional vehicles around the world are playing a major part, by making these automobiles increasingly expensive.

During the COVID-19 pandemic, the sale of such equipment witnessed a massive downfall due to the closure of construction sites, mines and oil & gas projects, and many manufacturing plants, including of these vehicles themselves.

However, the race to finish the delayed infrastructure projects as soon as possible is benefitting the off-highway electric vehicles market in the post-lockdown era, with many OEMs launching new vehicle models suited to different purposes.

APAC continues to witness the highest demand for off-highway machines with fully electric or hybrid-electric propulsion. The region is the world's largest construction market and also the most-polluted, led by China and India in both these aspects. Therefore, the focus on integrating electric drivetrains in off-highway vehicles has become really strong here in the recent past. Additionally, APAC is the largest manufacturer of EVs, thus leading to their easy availability.

This presents lucrative opportunities for key off-highway electric vehicles market players, including Hyundai Doosan Infracore Co. Ltd., Komatsu Ltd., AB Volvo, Caterpillar Inc., LIEBHERR-International Deutschland GmbH, J.C. Bamford Excavators Limited, Sany Heavy Equipment International Holdings Company Limited, DEERE & COMPANY, Epiroc AB, and Hitachi Ltd. Thus, they have begun entering into partnerships and collaborations, merging with and acquiring similar firms, and expanding their geographical presence, apart from launching new vehicle models.

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Boom Expected in Biosensors Market in Future

A biosensor is an analytical device that measures a wide range of analytes, including bacteria, ions, organic compounds, and gases. The device comprises a biological element, such as a nucleic acid, an antibody, or an enzyme, and a transducer. The biological element combines with an analyte and a transducer to convert biological response into an electrical signal. It is portable, easy-to-use equipment that is used in a variety of applications, including medical testing, food toxicity, agricultural testing, industrial process, and environment monitoring, owing to its high accuracy and portability.

Due to these factors, biosensors are widely used for point-of-care testing. In recent years, the demand for this testing has increased significantly, on account of surging requirement for integrated and portable devices. It helps in performing tests near to patient and offers instant results outside laboratory. Biosensors also assist clinicians in diagnosing causes of diseases for immediate management. Thus, increasing penetration of such devices will accelerate the biosensors market at 9.8% CAGR during 2016–2022. The market stood at $14,169.5 million in 2015, which is projected to reach $27.1 billion by 2022.

Thus, the rising application of biosensors has encouraged companies, such as LifeSensors Inc., Nova Biomedical Corporation, TaiDoc Technology Corporation, Siemens AG, Medtronic PLC, Abbott Laboratories Inc., F. Hoffmann La Roche, Johnson and Johnson, ACON Laboratories, and I-SENS Inc., to develop and produce biosensors for multiple applications. These market players offer biosensors that are based on technologies, such as optical, thermal, electrochemical, and piezoelectric. Adoption of these technologies helps in providing accurate and immediate results within the medical, agriculture, and manufacturing industries.

According to P&S Intelligence, North America utilized the highest number of biosensors in 2015 in the biosensors market. Whereas, the Asia-Pacific (APAC) region will be the fastest adopter of such devices in the coming years. The APAC market is expected to grow significantly during the forecast period, due to the booming population, rising prevalence of diabetes, escalating awareness regarding clinical outcomes, and intensifying developments in technologies of medical equipment and devices. Among APAC nations, Japan is the largest consumer of biosensors.   

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Why are Hypodermic Needles Rapidly Replacing Traditional Needles in Healthcare Settings?

The growing incidence of various lifestyle-associated and chronic diseases and the soaring geriatric population in several countries are the major factors fueling the sales of hypodermic needles across the world. In addition to this, the rising concerns being raised over needlestick injuries are further boosting the demand for hypodermic needles. The Safe Injection Global Network (SIGN), under the World Health Organization (WHO), frequently conducts workshops and events all over the world for raising public awareness about safe injection methods and practices.

The increasing prevalence of needlestick injuries is another important factor contributing to the mushrooming popularity of hypodermic needles throughout the world. These needles are long, hollow, and cylindrical in shape and are primarily used with syringes for injecting and extracting fluids from the human body. These needles are available in two forms namely reusable and disposable. The reusable needles are required to be thoroughly sterilized before they are reused. These needles are majorly used by diabetics for administering insulin in their bodies. 

Diagnostic centers and hospitals are the major end users of the hypodermic needles. Of these, the usage of these needles is currently higher in the hospitals. This is credited to the rising number of people visiting hospitals for the diagnosis and treatment of various diseases and medical conditions. Moreover, the increasing incidence of various chronic diseases, rising implementation of government initiatives in several countries for promoting safe injection techniques, and the growing consumer preference for safety hypodermic needles in hospitals. 

In the coming years, the North American hypodermic needle market is predicted to exhibit rapid expansion. This is attributed to the rising incidence of lifestyle-associated and chronic diseases in the region and the increasing patient preference for safe injection methods in the North American countries. However, despite these growth drivers, the sales of the hypodermic needles will increase at a faster rate in the Asia-Pacific (APAC) region in the forthcoming years, mainly on account of the improving healthcare facilities and the increasing public awareness of safe injection practices and usage of syringes in the region.

Hence, it is certain that the sales of hypodermic needles will rise tremendously throughout the world in the years to come, primarily because of the growing incidence of lifestyle-associated and chronic diseases, soaring geriatric population, and the rising prevalence of needlestick injuries across the world. 

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What are the Key Factors Contributing to Surge of Medical Aesthetics Market?

The ability of the medical aesthetic treatments to provide enhanced physical appearance and thus, higher self-esteem and better psychological state is making these treatments highly sought-after across the world. Medical aesthetic treatments like botox play a major role in alleviating the problems of migraines and excessive sweating. 

Additionally, these advancements have caused a drastic reduction in the recovery time periods. Medical aesthetics procedures help people improve their physical appearance, which, in turn, helps them achieve high self-esteem. Treatment procedures such as Botox can help people deal with migraines and excessive sweating. When Botox is administered into the armpits of patients, it paralyzes the armpit’s sweat glands immediately, which subsequently leads to the release of lesser sweat than before. 

The rapid technological advancements and innovations in laser technology are significantly boosting the popularity of cosmetic procedures across the world. Owing to these advancements, laser-based procedures can now provide many benefits such as reduced intensity of pain and faster recovery times. Advanced laser technologies such as transdermal focussed ultrasound, higher intensity focused ultrasound (HIFU), and monopolar RF are widely used in many aesthetic treatments, such as fat reduction and body contouring. The rising popularity of various cosmetic procedures, owing to the development of advanced laser technologies, will further propel the demand for medical aesthetic treatments across the world.

Browse Detailed Analysis @ Medical Aesthetics Industry Growth

Due to the above-mentioned factors, the global medical aesthetics market is expected to witness substantial growth in the coming years. Medical aesthetics refer to a branch of scientific research that uses minimally invasive treatments in order to improve a person’s physical appearance through the use of lasers or other energy based devices and healthcare and beauty services. Medical aesthetics are commonly used in the treatment of fine lines and wrinkles, scars, and stretch marks, fat reduction, body contours, skin oxygenation and rejuvenation, skin tightening, and many other types of problems related to physical aesthetics.

This study covers

•             Major factors driving the market and their impact during the short, medium, and long terms

•             Market restraints and their impact during the short, medium, and long terms

•             Recent trends and evolving opportunities for the market participants

•             Historical and the present size of the market segments and understand their comparative future potential

•             Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

•             Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

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How Will Low Storage Space Requirement Strengthen France LPG Market?

A number of factors such as the low upfront cost and less storage space required by LPG boilers and the massive government support toward new energy vehicles will help the French LPG market demonstrate a CAGR of 2.1% between 2020 and 2030. According to P&S Intelligence, the market was valued at $7,691.2 million in 2020, and it will generate $9,480.3 million revenue by 2030. Additionally, the rising public awareness regarding environmental pollution will also propel the demand for LPG in France.

The low upfront cost of LPG boilers is one of the primary growth drivers of the French LPG market. As compared to an electric heat pump or automatic-fed biomass boiler, an LPG boiler is available at a very low cost. Additionally, the upfront cost of LPG boilers is also lower than air source heat pumps. In addition, the easy storage of LPG is also a key contributor to the industry growth, as wood chip fuel and wood pellet storage requires minimum ventilation standards for preventing off-gassing or buildup of toxic gases.

The industrial category, under the industrial segment, is expected to demonstrate the fastest growth in the French LPG market throughout this decade. This will be on account of the increasing use of LPG for space and process heating, powering forklifts, manufacturing packaging materials, food production, and powering industrial ovens. In addition, a high volume of LPG is also being used as fuel in furnaces and kilns. The wide application base of LPG in the industrial sector can be credited to the high calorific value of this gas. It is primarily used in applications, including cooking, hot air balloons, agriculture, and transportation (Autogas).

At present, the French LPG industry is consolidated in nature, due to the presence of four dominant players, namely Antargaz, Rubis SCA (Vitogaz), Primagaz, and DCC plc (Butagaz). In recent years, these players have been adopting different strategic measures, including product launches and acquisitions, to stay ahead of their competitors in the market. For example, in July 2021, Antargaz acquired Redéo Énergies as part of its ongoing efforts to expand the portfolio of its multi-energy offerings. With this move, Antargaz aims at introducing a new solution that combines green energy and local production. 

Therefore, the low upfront cost of LPG boilers and the low storage space required for LPG gas are the key contributors to the market growth in France.

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How Will Hospitality Sector Strengthen Kuwait Facility Management Market?

The Kuwaiti facility management market is expected to grow at a CAGR of 8.5% between 2021 and 2030, owing to the booming hospitality sector and upcoming infrastructure projects in the country. According to P&S Intelligence, the industry was valued at $954.4 million in 2021, and it will generate $1,995.5 million revenue by 2030. In recent years, economic diversification has become a major trend in the market. To decrease its reliance on the energy sector, the government is focusing on increasing investments in the tourism, construction, and hospitality sectors to reduce its dependence on oil revenue.

One of the major growth drivers of the Kuwaiti facility management market is the flourishing hospitality sector, owing to the increasing footfall of tourists in the country. According to the WorldData, a total of 2 million tourists visited Kuwait in 2020. The government is encouraging private investments, constructing new attractions, increasing international promotion campaigns, and expanding airport capacity to boost the hospitality sector in the nation. The surging tourist footfall and soaring government support for the hospitality sector will result in the construction of hospitality units, which require facility management services to offer more comfort to customers.

The property category, within the service segment, accounted for the largest share in the Kuwaiti facility management industry in 2021. Whereas, the cleaning category is expected to register the fastest growth in the market throughout this decade. This will be due to the rising expectation for cleaning, germfree, and hygienic public spaces and workspaces, on account of the ongoing COVID-19 pandemic. To deal with the safety quotient of sanitation, enterprises and government organizations are using innovative scanners and sensors in facility management equipment.

With the presence of numerous players, the Kuwaiti facility management market is fragmented in nature, owing to which the competition has increased considerably. Nowadays, the market players are focusing on different strategic measures, such as contract wins and product launches, to gain a competitive edge. Some of the leading players in the market include Kharafi National for Infrastructure Projects Developments Construction and Services S.A.E., R&E Petroleum Co., and Fawaz Trading & Engineering Services Co. W.L.L.

Thus, the expanding hospitalization sector will steer the demand for facility management services in Kuwait.

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Rising Incidence of Healthcare Associated Infections Fueling Expansion of Sterilization Technology Market

The healthcare industry deals with sensitive issues, which is why it is of utmost importance that the devices in hospital settings are cleaned after every single use and are maintained properly for providing the patients with quality care. If the medical devices are not cleaned on a regular basis, patients and healthcare professionals both can get infected. One of the major reasons for the rising prevalence of hospital-acquired diseases is the poor level of cleanliness in different medical settings. However, the regulations regarding the proper maintenance of all medical devices are becoming more stringent, which is resulting in the growing adoption of the sterilization technology.

Attributed to these reasons, the sterilization technology market is predicted to register significant growth in the coming years. Devices and consumables both make use of the sterilization technology, among which medical devices made the most use of this technology in the past. Different types of sterilizers which are used for sterilizing medical devices are ultrasonic sterilizers, steam sterilizers, liquid sterilizers, low temperature sterilizers, filtration sterilizers, heat sterilizers, and radiation sterilizers. Out of these, the demand for heat sterilizers is expected to increase significantly in the coming years for sterilizing products that are moisture sensitive. The vendors in the domain offer two types of sterilization services, namely sterilization validation and contract sterilization.

In the past, North America emerged as the largest sterilization technology market, owing to the presence of large number of hospitals, rising prevalence of hospital-acquired diseases, and expansion of medical devices and pharmaceutical industries in the region. Furthermore, the increasing number of surgeries and growing healthcare expenditure in the region are also resulting in the rising adoption of sterilization. Other than this, the demand for this technology is also predicted to grow substantially in the Asia-Pacific region in the coming years, on account of growing medical tourism and increasing healthcare expenditure. 

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Increasing Prevalence of Skin Diseases Powering Muscle Relaxant Drug Sales

With the rising incidence of skin diseases, the demand for muscle relaxant drugs is surging sharply across the world. Some of the major factors fueling the incidence of these diseases are the increasing pollution levels, the excessive exposure to ultraviolet (UV) radiation, and increasing tobacco and alcohol consumption. Moreover, exposure to UV rays causes reduction in skin elasticity and also makes the skin highly vulnerable to sunburns, thereby pushing up the requirement for muscle relaxant drugs.

Apart from the aforementioned factor, the rising prevalence of acne is also powering the sales of muscle relaxant drugs around the world. This is because botulinum toxin-based muscle relaxant procedures are required for treating this disease. The surging spending on various facial aesthetic treatment procedures, on account of the growing disposable income of people, and the soaring usage of neuromuscular blocking agents in surgeries are also powering the sales of these drugs.

Geographically, the demand for muscle relaxant drugs was observed to be the highest in North America in the years gone by. This was because of the large-scale usage of facial muscle relaxants and the existence of a large geriatric population in the region. On the other hand, in the forthcoming years, the sales of these drugs will shoot up in Asia, primarily due to the rapidly improving healthcare infrastructure and the increasing volume of surgeries being performed in the region.

Hence, it can be said without any hesitation that the demand for muscle relaxant drugs will rise enormously in the years to come, primarily because of the growing incidence of skin diseases and the ballooning population of ageing people all over the world.

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Sleeping Aids Providing Comfort to Sleep Apnea Patients

 The American Sleep Apnea Association says that at present, around 22 million people in the U.S. suffer from sleep apnea. Among these, around 80% of cases of severe and moderate obstructive sleep apnea (OSA) remain undiagnosed. OSA can affect infants as well as adults; however, it is most frequent among men over 40 years. This disorder is highly prevalent among overweight or obese men. Thus, the surging cases of sleep disorders, such as OSA and insomnia, will create a huge requirement for sleeping aids in the coming years.

Browse detailed report with COVID-19 impact analysis on Sleeping Aids Market Report

In recent years, BRAEBON Medical Corporation, Takeda Pharmaceutical Company Limited, Löwenstein Medical GmbH & Co. KG, Natus Medical Incorporated, GlaxoSmithKline plc, Merck & Co. Inc., ResMed Inc., and Koninklijke Philips N.V. have been focusing on the production of sleep apnea devices, mattress and pillows, and medication and offering sleep laboratory services. In contemporary times, mattresses and pillows are being preferred over other sleeping aids due to their cost-effectiveness and availability in wide varieties. These products are used to comfort and treat patients suffering from insomnia, sleep apnea, narcolepsy, restless leg syndrome (RLS), and sleepwalking.

Currently, sleeping aids manufacturers are engaging in product launches and partnerships and collaborations to reach out to a greater number of customers. For instance, in September 2019, Koninklijke Philips N.V. introduced its expanded SmartSleep suite of solutions in the U.S. These solutions assist users in addressing an array of sleep issues, ranging from difficulty in falling asleep to snoring. Furthermore, in January 2020, SleepScore Labs partnered with Serta Simmons Bedding LLC (SSB) to explore the effects of sleeping on the iComfort by Serta CF4000 mattress and its ability to offer restful and comfortable sleep.

Whereas, the Asia-Pacific (APAC) sleeping aids market is expected to progress at the highest rate in the foreseeable future. This will be due to the increasing consumption of sleeping pills, booming geriatric population, and rising burden of sleeping disorders. According to the United Nations Population Fund (UNFPA), the population of people aged 60 years or above in the region will reach around 1.3 billion by 2050. Moreover, the low manufacturing cost of the products, owing to the easy availability of raw materials and labor, will support the market growth in the region.

Thus, the mounting cases of sleeping disorders and escalating demand for sleeping pills will fuel the adoption of sleeping aids.

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Increasing Research Activities Drive Development of Catalog Peptides

Every year, over 9.5 million people die of cancer each year, according to the World Health Organization (WHO). This is because either patients are diagnosed in later stages, or the drugs aren’t able to target tumors that well. A lot of cancers are formed due to the disruption in the pathways activated by peptides, which are essentially short chains of amino acids; a peptide of more than 50 amino acids is known as a protein. Since the establishment of the fact that protein pathway disruption is a potential cause of cancer, extensive research and development (R&D) has been put in to remedy this.

Browse detailed report with COVID-19 impact analysis on Catalog Peptides Market Competitive Landscape

Thus, with the rising prevalence of cancer and fruitful R&D, the catalog peptides market is predicted to grow from $238.4 million in 2018 to $332.1 million by 2024, at a 5.8% CAGR during 2019–2024 (forecast period). The term catalog peptide refers to the artificially synthesized peptide drugs which are readily available with biotechnology and pharmaceutical companies, as opposed to those that are customized as per user preference and the specific application.

Presently, North America makes the largest contribution to the catalog peptides market, owing to the presence of a number of biopharmaceutical companies, increasing R&D investments for widening the application area of such products, and adoption of improved technologies for manufacturing. Within the region, the U.S. consumes such drugs in higher amounts, owing to its increasing incidence of chronic diseases, especially cancer. Moreover, numerous drugs are receiving approvals from the Food and Drug Administration, which is leading to their rising availability for the treatment of various diseases.

Hence, with the rising R&D activities and prevalence of cancer, the demand for catalog peptides will also grow.

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Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market Set to Prosper in Future

The global anti-aging and skin rejuvenation energy-based aesthetic devices market is expected to exhibit rapid advancement in the future years, as per the forecast of P&S Intelligence, a market research firm based in India. The market is being driven by the rising geriatric population in several countries, thriving medical tourism industry, soaring public awareness of anti-aging and skin rejuvenation energy-based aesthetic devices, rapid technological advancements and innovations in these devices, and the surging popularity of minimally invasive aesthetic treatment procedures across the world.

The growing geriatric population is one of the key factors fueling the progress of the market. This is because of the fact that increasing age leads to the loss of fibrous tissue and decreased glandular and vascular network in the skin layers, which in turn, results in the formation of wrinkles and causes skin sagging, dryness, and pigmentary alteration. The usage of anti-aging products significantly reduces the occurrence of these skin problems as these products revitalize and tighten the skin and give it a younger look. 

Browse report overview and detailed TOC on Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market Demand

As per a report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of the people in the age bracket 60 years or above would rise to 437 million in China, 58 million in Brazil, 107 million in the U.S., and 324 million in India by 2050. The increasing population of geriatric people in these countries will massively push up the sales of these anti-aging devices in the future years. 

Geographically, the anti-aging and skin rejuvenation energy-based aesthetic devices market is predicted to register rapid progress in North America during the coming years. In addition to this region, the market is also predicted to record significant growth in Europe in the upcoming years. The main factors responsible for the expansion of the market in these regions are the existence of numerous prominent players, growing geriatric population, and the increasing consciousness amongst the people about looks and appearance.

Thus, it can be said without any doubt that the market will demonstrate huge growth in the forthcoming years, primarily due to the rising geriatric population and the increasing popularity of anti-aging devices and treatment procedures across the world. 

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Sales of Home-Use Insulin Delivery Devices Soaring in an Ageing World

The growing incidence of diabetes is driving the demand for home-use insulin delivery devices. According to the World Health Organization (WHO), 422 million people all over the world are currently suffering from diabetes. Furthermore, the organization reported that diabetes claims the lives of 1.6 million people every year. Besides the rising prevalence of diabetes, the mushrooming population of geriatric people is also fueling the demand for home-use insulin delivery devices across the world. 

Access Report Summary - Home-Use Insulin Delivery Devices Market Growth and Demand Forecast

Apart from the aforementioned factors, the rapid technological advancements being made in insulin delivery devices are also propelling their popularity globally. Insulin inhalers, insulin pumps, and insulin pens have several advantages such as the ability to administer the required dosage of insulin accurately, thereby assisting in maintaining the normal level of insulin in the body. Moreover, it is less time consuming to administer insulin via insulin pens in comparison to insulin administration via syringes. The other advantages of these pens are the ability to minimize the risk of inaccurate dose administration and greater patient acceptability.

This was because of the ease of administering insulin, rapid advancements made in the insulin pen technology, and the integration of the internet of things and smartphones in them. When distribution channel is taken into consideration, the home-use insulin delivery devices market is classified into e-commerce, diabetes clinics/centers, and pharmacies. Amongst these, the e-commerce category is predicted to register the fastest growth in the market in the coming years. This is ascribed to the various offers and discounts that are being provided by the e-commerce platforms. Additionally, these platforms provide the details of the products of various brands, which allows customers to make price and feature comparisons. 

Geographically, the home-use insulin delivery devices market was dominated by North America in 2020, as per the observations of the market research firm, P&S Intelligence. This was because of the high incidence of lifestyle diseases such as obesity and diabetes, growing public awareness about the importance of proper diabetes management, and surging healthcare expenditure in the regional countries. Additionally, the presence of a large obese population also contributed massively toward the high sales of home-use insulin delivery devices in the region, as obesity is a major risk factor for diabetes. 

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Explosive Growth Expected in APAC Gene Therapy Market During 2021–2030

 The Asia-Pacific (APAC) gene therapy market revenue stood at $349.1 million in 2020, and it is predicted to rise to $6,931.5 million by 2030. The market will also exhibit a CAGR of 36.8% between 2021 and 2030, as per the estimates of the market research firm, P&S Intelligence. The factors driving the market expansion are the surging gene therapy activities, rising incidence of chronic diseases, and increasing number of clinical trials being conducted with positive results across the region. 

Read the full report - APAC Gene Therapy Market

As per the data, the company’s engineered RPGR constructs and proprietary adeno-associated viruses (AAV) vector were well tolerated and had various beneficial effects of the disease markers in a canine model of XLRP. Additionally, the treated patients showed massive improvements in their visual functions. Besides the positive results of the clinical trials, the increasing therapy development activities being carried out by various private and public research companies are also driving the expansion of the Asia-Pacific gene therapy market.

Between these, the in-vivo category held the larger share in the market between 2015 and 2020, primarily due to the high efficacy and less difficulty associated with this gene therapy method. When vector type is taken into consideration, the APAC gene therapy market is classified into herpes simplex virus (HSV), lentivirus, non-viral, and adenovirus categories. Out of these, the adenovirus category is predicted to exhibit the fastest growth in the market in the coming years.

The APAC gene therapy market is expected to exhibit the highest growth rate in China in the upcoming years. This is attributed to the increasing strategic development activities being announced by the key players and the growing prevalence of rare diseases and cancer in the country. As per an article published in the South China Morning Post in April 2019, around 20 million people are diagnosed with rare diseases in mainland China. 

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Synthesis of Custom Peptides Boosting Drug Development

Presently, the pharmaceutical sector is synthesizing peptides through multiple processes, on account of technological advancements. In earlier times, peptides were produced with the help of natural sources. For instance, adrenocorticotropic hormone (ACTH) was developed from porcine and bovine pituitary, and insulin was derived from bovine and canine pancreas. These manufacturing processes were time consuming and resulted in low production. However, with innovations in technology, biopharmaceutical companies have started creating synthetic peptides like vasopressin, leuprorelin, oxytocin, and octreotide with the help of solid-phase peptide synthesis (SPPS), hybrid and recombinant technology, and solution-phase peptide synthesis (SPS) technologies.

Browse In-depth Competitive landscape of the Customized Peptide Synthesis Market 

Moreover, the surging participation of private and public research institutes in synthetic biology research will accelerate the customized peptide synthesis market at a CAGR of 6.4% during 2019–2024. The market stood at $268.8 million in 2018, and it has the potential to reach $390.0 million by 2024. The increasing participation of research entities will amplify the funding for the development of advanced and innovative bio-based products, to deal with the global health challenges. These research and development (R&D) activities are essentially aimed at producing better drugs for the treatment of chronic diseases.

Apart from pharmaceutical and biotechnology companies and academic and research institutes, contract manufacturing organizations (CMOs) and contract research organizations (CROs) also utilize peptides in large quantities. These entities require a wide range of reagents and equipment to synthesize peptides for antibody production, enzyme profiling, drug discovery, disease research, and biomarker discovery. The reagents utilized by them for the synthesis of peptides include precipitation agents, additives, substrates, and buffers, while the advanced platforms being used for the purpose include the PepTrend system.

According to P&S Intelligence, the Asia-Pacific customized peptide synthesis market will exhibit the fastest growth in the foreseeable future. This will be due to the high-volume usage of peptides in drug discovery, constant technological innovations, hefty R&D funding, and low cost of raw materials in the region. Drug manufacturers in APAC countries are racing to meet the growing requirement for peptide-based drugs to treat chronic diseases. Additionally, new research findings in the region will offer lucrative opportunities for the discovery of peptide-based drugs in the coming years.

Thus, the continuous technological advancements and hefty investments in R&D will lead to a significant rise in the peptide designing and synthesizing activities in the coming years.

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Boom Predicted in Worldwide Sales of Practice Management Systems in Future Years

 The rapid establishment of several small and medium hospitals in various countries such as the U.S. is causing a sharp surge in the worldwide demand for practice management systems. As per the data published by the American Hospital Association (AHA) in 2018, there were over 5,500 hospitals in the U.S as of 2018. Out of these, around 2,500 were non-profit organizations. Besides this, the soaring healthcare costs in many countries are also fueling the demand for practice management systems.

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Both developed and developing countries are heavily struggling in implementing quality and cost-effective healthcare for their citizens. Despite the availability of insurance programs and surging healthcare expenditure, the healthcare costs are soaring rapidly and making it very difficult for healthcare providers to deliver quality medical care at affordable prices. As practice management systems allow medical practitioners to provide quality treatment at affordable prices, the surging healthcare costs are propelling their sales across the globe.

This is subsequently fueling the expansion of the global practice management systems market. Software and services are the major components of practice management systems. Between these, the demand for software was observed to be higher during the last few years, primarily because of its large-scale adoption for patient engagement solutions, e-prescriptions, and electronic health records (EHR). Furthermore, the customized of practice management system software is quickly becoming a popular global trend.

This is credited to the fact that these systems offer higher administrative and clinical efficiency than the standalone ones. Web-based, cloud-based, and on-premise based are the most widely used types of delivery modes for practice management systems. Amongst these, the demand for cloud-based delivery mode will skyrocket in the upcoming years. This will be because the cloud-based practice management systems have achieved Health Insurance Portability and Accountability Act (HIPAA) compliance via data centers with high-level encryption methods and bank-level security.

Hence, it can be said with full confidence that the demand for practice management systems will shoot up across the world in the future years, mainly because of the increasing number of small and medium-sized hospitals in several countries and the growing requirement for cost-effective healthcare and medical treatment.

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How is Stem Cell Therapy Fuelling Growth of Biobanking Market?

 The rising incidence of chronic diseases and the surging number of research and development (R&D) activities being conducted on genome are the major factors predicted to cause the surge of the global biobanking market, from $25.8 billion to $36.8 billion from 2018 to 2024. In addition to this, the market is predicted to exhibit a CAGR of 6.2% between 2019 and 2024, as per the forecast of P&S Intelligence, a market research company based in India.  

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The soaring prevalence of diabetes, Parkinson’s disease, and Alzheimer’s disease is massively boosting the demand for stem cells and cord blood cells (that contain the stem cells) all over the globe. The treatment procedures involving stem cells have the ability to help significantly in organ transplantation, tissue grafting, drug testing, and the development of regenerative medicines. Thus, because of the various advantages of stem cell therapies, their popularity is rapidly growing, which is, in turn, boosting the demand for biobanks across the world. 

Based on offering, the biobanking market is categorized into services, software, equipment, and consumables. Out of these categories, the consumables are predicted to account the highest growth, in terms of revenue, in the market in future. This is ascribed to the higher demand for consumables amongst the consumers as compared to the equipment and software. In addition to this, the consumables are bought repeatedly by consumers whereas, the equipment and software record one-time sale in the biobanks.

During the next several years, the Asia-Pacific (APAC) biobanking market is predicted to register huge growth, on account of the rising awareness amongst the masses about biobanking, soaring population levels and surging clinical research activities in the various APAC countries. Furthermore, the advancement of the biotechnology sector, on account of increasing investments by public and private organizations and ballooning R&D activities, will majorly contribute toward the expansion of the market in the region in the forthcoming years.

Therefore, it can be safely said that the market will exhibit sharp growth in the upcoming years, on account of the increasing R&D activities in the healthcare and biotechnology sectors and the rising prevalence of chronic diseases across the world. 

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