Digital Health Market is Predicted Substantial Growth at a CAGR of 21.1% During Forecast Period

Smartphones, tablets, and other internet platforms are the epitomes of innovation in the world. Over the last five years (2013–2017), there has been an exponential increase in the use of smartphones and tablets. The innovations have greatly helped sectors such as education, transportation, business, and healthcare reach the masses. Digitization of healthcare has considerably improved the doctor–patient interaction, thereby leading to the growth of the digital health sector.

Offering an insight into the scenario, P&S Intelligence has predicted substantial growth in the global digital health market at a CAGR of 21.1% during 2018–2023. Digital health refers to the integration of information technology into healthcare services. Individuals, hospitals, and clinics are the end-users of digital healthcare solutions. Among these, individuals are expected to constitute the largest end-user base globally, progressing at a CAGR of 21.9% during the forecast period.

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Smartphones and other technologies have made a major contribution to the growth of the digital health market. According to a European Union press release, among all devices, smartphones were the preferred platform to access the internet in 2016, accounting for over 79% of all internet users. With advancements in technology, the adoption of the latest mobile applications in healthcare has increased considerably. Apart from smartphones, the progress of the digital health market can be credited to the use of tablets and other internet platforms, such as desktops and laptops.

Telemedicine, mHealth, electronic health records (EHRs), and healthcare analytics are the various divisions of the technology segment of the domain. Of these, mhealth had the largest share, of 31.5%, in the market during the historical period, and it is expected to register 33.5% CAGR during the forecast period. Government initiatives toward the implementation of mhealth and rising awareness about its advanced applications have driven the digital health market growth to a great extent.

Some of the other key players in the digital health industry are Qualcomm Incorporated, Cerner Corporation, eClinicalWorks LLC, Epic Systems Corporation, McKesson Corporation, athenahealth Inc., General Electric Company, Koninklijke Philips N.V., Cisco Systems Inc., and AT&T Inc.

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Increasing Infrastructure Development to Drive Chiller Market

The chiller market is witnessing swift growth due to the heavy requirement for cooling equipment in industrial settings, increasing global temperature, and surging construction activities. From valuing $7.1 billion in 2018, the market is expected to reach $9.5 billion by 2024, advancing at a 4.9% CAGR during the forecast period (2019–2024).

A compressor-based machine that takes away heat from liquids through an absorption–refrigeration cycle or vapor compression is referred to as a chiller. It generates chilled water, which is then mainly used to cool large facilities.

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The key trend in the chiller market is the growing popularity of R32 models. R32 is a type of refrigerant, which offers enhanced operational efficiency as compared to the R22 refrigerant. R32 chillers consume about 10.0% less energy and also help in reducing greenhouse gas emissions due to their extremely low global warming potential as compared to R410A and R22 chillers.

It is caused due to the increased absorption of infrared energy by the atmosphere, resulting in high temperatures. The National Aeronautics and Space Administration reported that in 2017, the average global temperature was 0.90^O C higher than the average temperature during 1951–1980.

One of the major drivers for the growth of the chiller market is the increasing temperatures across the globe. The excessive use of chlorofluorocarbons and burning of fossil fuels lead to the accumulation of greenhouse gases, such as methane and carbon dioxide, in the environment, which leads to the phenomenon of global warming.

Johnson Controls International PLC, Samsung Electronics Co. Ltd., Ingersoll-Rand plc, United Technologies Corporation, Daikin Industries Ltd., Gree Electric Appliances, Inc. of Zhuhai, Zamil Air Conditioners, Thermax Limited, Mitsubishi Electric Corporation, Petra Engineering Industries Co, S.K.M Air Conditioning LLC, and Danfoss A/S are some the key players in the global chiller market.

Chiller Market Segmentation

Market Segmentation by Product

• Screw
  • Water-cooled
  • Air-cooled
• Centrifugal
• Scroll
  • Water-cooled
  • Air-cooled
• Absorption
  • Direct-fired
  • Hot water
  • Steam
• Reciprocating
  • Water-cooled
  • Air-cooled

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Mattress Market is Gaining Interest of Consumers across the Globe

Global mattress market is forecasted to attain the value of $38,976 Million by 2023, According to P&S Intelligence.

The market has been witnessing robust growth, mainly due to the factors, such as growing disposable income, increasing population and rising migration from rural to urban areas.

Insight on Market Segments

Based on product, the market has been categorized into innerspring, memory foam, latex and others, wherein ‘others’ include hybrid, gel-type, water-type, air-type mattresses. The innerspring mattress is the most popular mattress type globally, accounting for over 33% of volume sales in the mattress market. Furthermore, with growing awareness among consumers regarding health, mattresses such as memory foam, which conforms to the user’s body and helps in relieving body stress and muscle pains, the demand for memory foam mattress is expected to grow significantly, during the forecast period.

Europe mattress market is projected to register the fastest growth

During the forecast period, the mattress market is projected to record the fastest growth in Europe. The growth can be accounted to increasing purchasing power of people leading to increasing spend on home furnishing. Moreover, with increasing awareness among people about the harmful effects of chemical-based mattress, the demand for eco-friendly mattresses is on the rise, further leading to high growth in demand for latex mattresses.

Rising disposable income is the primary driving force for the mattress market

The growing disposable income coupled with various government policies related to real estate has resulted in rise in home ownership rate, which in turn is supporting mattress market growth. According to Organization for Economic Co-operation and Development (OECD), the average annual growth rate of disposable income has been over 2% globally and various government policies have led to affordable housing, a basic need for human being according to Maslow’s theory for hierarchy of needs.

Growing health awareness among consumers is set to offer remunerative opportunities for the market players

The growing health awareness among consumers has been propelling the demand for daily-use products like mattresses. With increasing disposable income, consumers are willing to pay extra amount for health-enhancing products. The sleep quality is becoming significant in the developed countries, thus leading to increasing adoption of premium mattresses. On the other hand, their Asian counterparts are increasing their mattress budget to use technologically advanced mattresses, as compared to traditional cotton-filler mattresses. These factors are posing lucrative opportunities for market players in mattress market.

Some of the key players operating in the mattress market are Spring Air International, Kingsdown Inc, Sleep Number Corporation, Simmons Bedding Company LLC, Tempur Sealy International Inc, Serta Inc, Relyon Limited, Southerland Inc, Corsicana Mattress Company, and McRoskey Mattress Company.

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Automotive and Infrastructure Sectors to Facilitate Growth in Asia-Pacific (APAC) Paints and Coatings Domain

Increasing construction activities, expanding automotive domain, and rapid industrialization are the key factors influencing the APAC paints and coatings market growth. Paints and coatings are mastic or liquid compositions that provide resistance to the substrate from abrasion and corrosion by forming a layer that converts into a solid film. Increasing investments in construction projects, ranging from retail centers and offices to hospitals and hotels, are leading to the growth of the paints and coatings domain in APAC. Similarly, paints and coatings have found their use in the automotive sector for both protection and aesthetic purposes. 

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Advantages such as reduced application time, increased resistance against moisture, and smoother texture and finish make water-based coatings a preferred choice among end-users. On top of this, these last longer in poorly ventilated spaces and confined environments. Hence, owing to the beneficial properties of such materials, the APAC paints and coating niche would experience prosperity during the forecast period.

In terms of application, the APAC paints and coatings market is categorized into architectural and decorative, industrial, and marine. During the forecast period, the volume sales of paintings and coatings are expected to witness the highest growth for industrial application, with a CAGR of 7.5%. Increasing demand for paints and coatings solutions from industries such as consumer goods, automotive, and machinery manufacturing is driving the market growth.

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Countries such as China, India, Indonesia, and Malaysia have witnessed rapid economic transformation in the past few decades. Majority of these nations have a large and rapidly growing middle-class population. These factors make these developing countries a suitable paint and coatings market. As these countries are home to fast-growing construction and automotive industry, an increase in the consumption of paint and coatings is expected from these. Hence, developing countries with a high economic growth rate will continue to bolster the market of paints and coatings in APAC in the coming years.

Some of the major players operating in the APAC paints and coatings market are Akzo Nobel N. V., PPG Industries Inc., The Sherwin-Williams Company, Berger Paints India Limited, Shalimar Paints Limited, Kansai Paint Co. Ltd., Chugoku Marine Paints Ltd., KCC Corporation, Nippon Paint Holdings Co. Ltd., Dulux Group Limited, and Asian Paints Limited.

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What are the Various Uses of Wound Care Products?

In 2014, approximately 15,775 fire-related injuries were reported in the U.S., as per the National Fire Protection Association (NFPA). Furthermore, the World Health Organization (WHO), in its 2014 publication, stated that around 1 million people in India suffer from moderate to severe burns yearly. This high and rising number of burn cases is driving the demand for various products to treat the resulting wounds. Burns caused by chemicals, radiation, heat, electricity, and friction lead to severe loss of tissue, blood vessels, and skin. Treating these wounds properly is mandatory, and this is done by the use of wound care products.

Wound care products comprise advanced wound care products (AWP), wound closure products (WCP), and traditional wound care products (TWP). These products accelerate the wound healing process by providing thermal insulation, absorbing exudates, allowing gaseous exchange, and preventing the entry of infectious agents. They are used to treat chronic wounds, ulcers, and surgical wounds. In 2015, the global wound care market attained a size of $24,482.9 million, and it is predicted to witness a CAGR of 6.7% in the near future. Among different products, AWPs  are used the most and will continue to be popular in the coming years. AWPs are further divided into advanced wound dressings (AWD), wound therapy devices (WTD), and active wound care products (AWC). The requirement for these products is growing rapidly because they help speed up the wound healing process by regulating the temperature, oxygen flow, and moisture around the injured skin and tissue.

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A large number of surgical wounds are treated using different wound care products, and since the volume of surgeries worldwide is increasing rapidly, the requirement for products to treat the wounds is also surging. Some of the reasons for this rise in the volume of surgeries are the growing prevalence of chronic diseases (such as cancer, heart diseases, respiratory diseases, and stroke) and growing inclination of people on aesthetics. According to the Centers for Disease Control and Prevention (CDC), in 2012, about 117 million people in the U.S. were suffering from at least one chronic health condition. In addition to this, the American Society of Plastic Surgeons stated that in 2012, around 14.6 million cosmetic surgeries were carried out in the U.S. These procedures are performed by making incisions on the body, thereby leading to wound formation. Wound care products then are used for cleaning and treating the areas of the body affected during surgical procedures.

Since there has been a mention of chronic diseases, it is important to point out that the geriatric population is more susceptible to them. Due to old age, their body functions are weakened, which results in a longer period for a wound to heal in comparison to younger adults. The growing aged population thus is leading to an increasing demand for wound care products. The United Nations Department of Economic and Social Affairs (UNDESA)’s report on the global aging population stated that the worldwide share of people aged 60 years or above was 11.7% in 2013, and it is predicted to reach 21.1% by the end of 2050. So, as their numbers, so will the total cases of wounds, and in turn, the demand for products to treat them.

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Glycogen Synthase Kinase 3 Beta (GSK-3β) Inhibitors Therapeutics - Pipeline Analysis 2019

Glycogen synthase kinase 3 beta (GSK-3β) is an attractive target for the treatment of psychiatric disorders and neurodegenerative diseases. Many GSK-3β inhibitors have been developed for the treatment of different central nervous system disorders. But, for an effective therapy, high IC50 values should be avoided and ATP-competition should be reduced during enzyme-compound binding. Studies suggested that ATP non-competitive GSK-3 inhibitors such covalent inhibitors and allosteric modulators are emerging as a promising approach with better efficacy and safety.

Despite of many GSK-3β inhibitors in clinical studies, many challenges still remains. In a clinical study, certain adverse events caused by off-target activity of GSK-3β inhibitors were determined after the screening of compounds that bind to the ATP-competitive binding site conserved across a broad range of kinases. Thus, there is an urgent need of development of GSK-3β inhibitors that can selectively target individual pathways and differentiate between the non-phosphorylated and phosphorylated GSK-3β.

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The report provides a comprehensive understanding of the pipeline activities covering all drug candidates under various stages of development, with detailed analysis of pipeline and clinical trials. Pipeline analysis of drugs by phases includes product description and development activities including information about clinical results, designations, collaborations, licencing, grants, technology and others.

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Construction Sector Offering HVAC Market Immense Growth Opportunities

Increasing focus toward the adoption of environment-friendly refrigerants, and overall growth in the construction sector are driving the progress of the heating, ventilation, and air conditioning market across the globe. The market generated a revenue of $108.1 billion in 2018, and it is expected to advance at a CAGR of 3.9% during the forecast period (2019–2024).

Heating, ventilation and air conditioning (HVAC) are standalone or all-in-one equipment used for heating and cooling residential, commercial, and industrial buildings.

On the basis of HVAC type, the market is categorized into heating, ventilation, and cooling systems. Among these, the cooling systems category dominated the HVAC market in 2018, both in terms of the revenue generated and total units sold. During the historical period (2014–2018), the reasons for the dominance of cooling systems were rising temperature and increasing disposable income.

Now, the heating category of the HVAC market is further divided into heat pumps, furnaces, boilers, and unitary heaters, among which the boilers division held the largest revenue share in 2018.  The increasing demand for boilers for keeping the area warm in the extreme cold climate of Northern Europe was considered the primary reason behind this.  

However, in the coming years, the heat pumps category is predicted to witness massive growth in terms of value, due to the heavy sales in European countries, such as Germany, Serbia, Austria, and Russia. Therefore, it is clear that the growing construction sector is expected to push the demand for HVACs, resulting in significant market growth in the near future.

HVAC Market Segmentation

Market Segmentation by HVAC Type

• Heating
  • Heat Pumps
  • Boilers
  • Furnaces
  • Unitary Heaters
• Ventilation
  • Ventilation Fans
  • Air Handling Units and Fan Coil Units
  • Humidifiers/Dehumidifiers
  • Air Cleaners
• Cooling
  • Ducted Split/Packaged Unit
  • Split Units
  • Room ACs
  • Chillers
  • Variable Refrigerant Flow

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