Growth from the Ground Up: An Analysis of the Organic Fertilizers Market and Its Sustainable Solutions for Agriculture

The value of the organic fertilizers market was USD 5,864 million in 2022, and it is will advance at a CAGR of 12.1% in the years to come, to reach USD 14,622 million by 2030, as per a market research company, P&S Intelligence.

Cereals & grains held the largest share of 62.8%, and it will maintain its position in the coming years. This growth has a lot to do with, such agrochemicals are generally used in turf & ornamental plants, cereals & grains, fruits & vegetables, oilseeds & pulses, and other kinds of crops.

Moreover, the requirement for cereals & grains is also increasing since they can be effortlessly produced and gives high yields.The animal-based category had the largest share of 63.2% and the trend will be the same in the years to come. The necessity for animal-sourced fertilizers has grown quickly. The growing importance of animal-based fertilizers is the main factor pushing the expansion of the industry.

Furthermore, fertilizers produced from bone meal, animal waste, and blood meal, are rich in phosphorous, potassium, and nitrogen, which are the main nutrients desirable by plants. So, because of above benefits of animal-based fertilizers, their use is quickly surging.

The solid category had the larger market share in the recent past, and it will continue its dominance in the future. This is because of the greater ease of usage of granular-form fertilizers than the liquid ones. The solid form of fertilizers is generally used for lawn and garden uses, because of its ongoing effect and easy obtainability of raw material.

APAC had a significant growth in the organic fertilizers market, and will remain the same in the years to come. This growth is mostly credited to the increasing health consciousness amongst the broad cultivation land, customers, increasing population & growth of per capita income, and improved mechanization and irrigation competences.

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Why Is Geriatric Population Boom a Key Surgical Simulation Market Driver?

The surgical simulation market is expanding on account of the increasing surgery volume, booming geriatric population, rising popularity of minimally invasive surgeries, and rapid technological advancements. Thus, the revenue generated from the sale of such solutions, which was $337.4 million in 2019, is predicted to display a healthy 16.4% CAGR between 2020 and 2030 (forecast period). Such simulators create virtual representations of real-life medical situations, so that students, as well as experienced doctors, can practice their skills.

The divisions on the basis of end user are hospitals, academic & research institutes, military organizations, surgical clinics, and others, which include nursing homes and fertility centers. In 2019, the highest market revenue was generated by the academic & research institutes division, as students are now demanding a first-hand training experience, before they operate on real patients. Moreover, even professionals are using simulators to improve their skills, as new medical procedures are being innovated. Even during the forecast period, this division is expected to witness the fastest advance in the industry.

Another key driver for the surgical simulation market is the booming geriatric population. The United Nations Department of Economic and Social Affairs (UNDESA) says that by 2050, the population of people in the 65-and-above age group will rise to 1.5 billion, from 703 million in 2019. The elderly suffer from more-serious diseases more often, which creates a need for long-term medical care. Therefore, the hospitalization rate, surgery volume, and chances of surgical complications in the elderly are higher, thus leading to the rapid adoption of surgical simulators.

Asia-Pacific (APAC) is projected to advance the most rapidly in the surgical simulation market during the forecast period. The geriatric population is increasing in the region, with the UN predicting the number of elderly people in India and China to reach 324 million and 437 million, respectively, by 2050. Moreover, medical procedures in the regional developing countries are cheaper than in developed countries, which is why hordes of people from the latter come to the former for treatment, thereby resulting in the increasing adoption of surgical simulation solutions for training.

Hence, as the volume of surgeries and number of older people increase around the world, so will the demand for surgical simulators for first-hand training.

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Mushrooming Geriatric Population Positively Impacting MRI System Sales

 The surging geriatric population in several countries is positively impacting the sales of MRI systems across the world. According to the 2017 World Population Ageing report published by the United Nations Department of Economic and Social Affairs (UNDESA), the global population of people in the age bracket- 60 years or above is rising rapidly. As geriatric patient care needs efficient management via cutting edge technologies, the soaring geriatric population is massively boosting the worldwide demand for MRI systems.

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MRI also provides excellent characterization of various musculoskeletal diseases and is used for detecting suspected soft tissue invasion. Thus, due to the intensive patient care requirements of the geriatric population, numerous medical facilities and healthcare centers are increasingly incorporating technologically advanced and innovative radiology systems. This is, in turn, pushing up the sales of MRI systems all over the globe. Furthermore, numerous research and development (R&D) activities have caused huge innovations in MRI systems over the last few years.

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Globally, the MRI systems market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the years to come, as per the estimates of P&S Intelligence, a market research firm based in India. The main factors propelling the demand for MRI systems are the rising incidence of chronic diseases, the presence of well-developed healthcare facilities and diagnostic centers, and the rapid technological innovations being made in imaging modalities in the region.

Thus, it is quite clear that the demand for MRI systems will shoot-up across the world in the upcoming years, mainly because of the increasing incidence of chronic diseases and the surging population of geriatric people all over the world.

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Global Demand for Benign Prostatic Hyperplasia Procedures Set to Skyrocket in Future

The surging geriatric population, on account of the rising life expectancy and the falling birth rates, is one of the main factors fueling the growing requirement for benign prostatic hyperplasia (BPH) procedures across the world. As elderly people are highly vulnerable to various diseases and need extensive medical care, on account of their long recovery times and low immunity levels, their increasing population is massively boosting the demand for BPH procedures.

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As per the United Nations Department of Economic and Social Affairs (UNDESA), the number of people in the age group-60 years or above is increasing rapidly. According to the organization’s global aging population reports, the population of the people in the age group-60 years or above will rise by 56.0% or from 901 million in 2015 to 1.4 billion by 2030. Furthermore, this number is predicted to grow to 2.1 billion by 2050.

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The players operating in the BPH industry are launching many campaigns for raising public awareness about BPH procedures and various prostate-related diseases. For instance, GlaxoSmithKline plc started a campaign with the name ‘#SeatsupforSanta’ for spreading awareness among people about BPH treatments and symptoms. Because of these reasons, the global benign prostatic hyperplasia (BPH) procedures market is predicted to register huge growth in the coming years. Laser-based and surgical procedures are the main types of BPH procedures performed around the world.

Hence, it is safe to say that the demand for benign prostatic hyperplasia procedures would surge across the world in the forthcoming years, mainly because of the rising prevalence of BPH and the increasing public awareness about these procedures.

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