Wound Care Market in Colombia to Witness the Highest Growth in Coming Years

The wound care market in Colombia was valued at $76.1 million in 2018, which is projected to reach $93.9 million by 2024.

Based on type, the advanced category held the largest market share in 2018, and is also expected to witness the fastest growth during the forecast period. The market growth is mainly driven by rising incidence of diabetes, traumatic injuries, and chronic wounds; and surge in geriatric population.

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With the growth in healthcare coverage provided by public and private organizations, there has been a rise in demand for wound care facilities in Colombia. According to an article published in the Health and Human Rights journal in 2016, the growth in healthcare coverage in Colombia was remarkable during 1991–2016, with an increase from 25% of the population covered in 1992 to approximately 96% in 2016. This rapid increase in healthcare coverage represents a key dimension of the right to health, a matter of basic rights for the majority of citizens in the country. This boosts the growth of the wound care market in Colombia.

Bogota is the largest and fastest growing market in the Colombian wound care market, on the basis of city. This can be ascribed to the presence of wound care specialty hospitals and increasing prevalence of diabetes mellitus in the city.

ConvaTec Group PLC, Mölnlycke Health Care AB, 3M Company, B. Braun Melsungen AG, BSN medical GmbH, Coloplast A/S, Smith & Nephew plc, Acelity L.P. Inc, and Paul Hartmann AG are some of the major players operating in the Colombian wound care industry. Some other players operating in the market are Hollister Incorporated, Techoquimicas SA, and Beiersdorf AG.

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Airborne Detection Systems for Submarines Market is in Transformational Growth Mode

Increasing underwater threats and rising defense budget are the major factors behind the growth of the airborne detection systems for submarines market. In 2017, the market generated a revenue of $611.8 million, and it is predicted to advance at a CAGR of 7.2% during the forecast period (2017–2023). Airborne detection systems are comprised of a lightweight mobile detection sensor for tracking and locating submarines. These systems can be deployed on all kinds of airborne platforms, such as fixed-wing aircraft, helicopters, and unmanned aerial vehicles.

Based on type, the airborne detection systems for submarines market is categorized into dipping sonars, radars, sonobuoys, and magnetic anomaly detection systems. Out of these, in 2017, the sonobuoy category held the largest share of over 45.0% in the market. The benefits associated with sonobuoys include low cost and swift deployment, which have escalated the progress of this category. Many small as well as large economies around the world deploy sonobuoys for the detection of submarines in and around their naval bases.

Geographically, in 2017, North America held the largest revenue share of more than 60.0% in the airborne detection systems for submarines market, and it is further predicted to maintain its lead during the forecast period. In this region, the U.S. dominated the market owing to its advanced and strong defense base. The rising international conflicts are increasing the security concerns, which, in turn, is boosting the demand for defense services and products, such as airborne detection systems for submarines.

Nowadays, every country aims to protect themselves from all kinds of enemy attacks, such as those from underwater systems. Various countries around the world are focusing on purchasing defense-related services and products in order to secure themselves from any misadventure by others. For instance, for protecting underwater spaces, airborne detection systems for submarines are widely adopted by the naval departments. Almost all nations’ defense expenditure includes a specific allocation for marine forces that involves spending for weapons, radar systems, and other components used by the navy.

For instance, for FY2018, the U.S. Department of Defense proposed a budget of $639.1 billion, which shows an 8.9% increase from the 2017. Around 27.0% of this defense budget was sanctioned for the Marine Corps of the U.S., which is an increase from $1.68 billion in 2017 to $2.13 billion in 2018. Furthermore, many developing countries in Asia-Pacific have started defense modernization programs, resulting in an increasing spending for land, air, and marine security. Thus, the growing defense budget of countries would result in the airborne detection systems for submarines market prosperity.

Hence, apart from the growing underwater threat and increasing security concerns, submarine modernization drives are helping the airborne detection systems for submarine market prosper.

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How Growing Demand in Pharmaceutical Industry is Driving Growth of Chinese Vacuum Pump Market?

China vacuum pump market is being driven by the growing demand for such devices from the pharmaceutical, semiconductor, and chemical industries. In 2018, the sale of such equipment generated $1.2 billion, and the market is projected to progress at a CAGR of 8.7% during the forecast period (2019–2024) to value $1.9 billion by 2024. A vacuum pump is used to remove all the air and gas molecules from an area to create a partial vacuum.

The industry in China is currently growing faster than most other countries due to the increasing investments, favorable government policies, and easily available labor at low cost. In 2018, China accounted for almost 40.0% of the global chemicals production.

Such devices can handle fluids of high and low or even variable viscosity and liquids with a high amount of entrapped gas or air molecules., which makes them the preferred choice among industries which process food, beverages, and other substances.

Based on type, the vacuum pump market in China is classified into regenerative, momentum transfer, positive displacement, and other pumps. During the historical period (2014–2018), the positive displacement classification led the market in terms of revenue as well as total sales.

Thus, the deployment of vacuum pumps would rise in China to meet the set targets of semiconductor & electronics and chemical & and pharmaceutical production.

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Smart Eyewear Market Heating Up

The global smart eyewear market is growing with a significant rate, due to rapid innovation in sensor technology. North America leads the global smart eyewear market, due to high adoption rate of digital components in consumer electronics, smart textiles, fitness and sports market. Large population and high obesity rate is further propelling the market growth of smart eyewear in this region. The Asia-Pacific market is expected to grow with the highest rate, due to growing healthcare industry. The increasing consumer awareness towards health and fitness, along with technology and computing in daily life is also supporting the growth of the market in the region.

Google dominates the smart eyewear market with its product Google Glass. Recon Instruments recently introduced Recon Jet, smart sunglasses that run fitness applications for athletes to track their progress, as they are being trained. Recon Instruments also designed smart goggles for snow sports. Google glass, launched in April 2014, captured attention of consumers and created new interest in smart eyewear, which in turn created heads-up displays for everyday life. Even as Google glass currently has limited features (only notification delivery and content sharing); adding new features such as GPS can make the product more useful and boost its market growth during the forecasted period. Additionally, some developed android applications can be added in Google glass in the coming years, which would be able to take benefit of the hardware, enable new features like object identification, and offer increased reality and fitness applications.

Other smart eyewear devices focus on creating increased reality experiences. Vuzix, a U.S. based company, provides a range of advanced smart glasses, such as Wrap 920AR and STAR 1200XLD. The new companies in the market such as Meta, offers smart glasses with a combination of high definition (HD) and infrared cameras with translucent displays. The smart glasses of Meta allow the wearer to use gestures for controlling augmented reality objects, directly in their field of vision.

Smart eyewear is a wearable computing device, which enhances information onto reality or actually supports people to see clearly. This is achieved with the help of an optical computerized internet connected glasses or head mounted display, with transparent heads up display or augmented reality. Some of the sensors used in smart glasses are accelerometer, image sensors, gyroscope, touch sensors, pressure sensors, and thermometers.

Two of the key competitors in the global smart eyewear market are Google Inc., and Recon Instruments Inc.

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Sauces Market in US Energized

The U.S. sauces market attained a value of $18.6 billion in 2018, and it is projected to advance at a CAGR of 3.3% during the forecast period (2019–2024). The market is witnessing growth due to the surging number of immigrants in the country, rising disposable income and busy lifestyle of the populace, and surging popularity of ethnic cuisines. Sauces are semi-liquid or liquid substances that are used while cooking in order to add flavor to the food, served with food, or both.

When type is taken into consideration, the U.S. sauces market is categorized into dips, cooking sauces, and table sauces. Out of these, the largest revenue was generated by table sauces. This is because these are required with food by the majority of the population. The shifting dietary preferences of people are also a key driving factor for this category. Dips are predicted to grow at the fastest pace during the forecast period, both in terms of value and volume, as they are an integral part of several regional as well as international cuisines. 

Rising Popularity of Ethnic Cuisines Driving U.S. Sauces Market

One of the key drivers of the U.S. sauces market is the surging popularity of ethnic cuisines. The demand for ethnic cuisines in the country is rising considerably because of globalization and culinary cultural exchange. Approximately 75.0% of the population living in the U.S. prefers ethnic foods at least once in a month while dining out. The younger generation especially prefers trying new the flavors available of different cuisines. As sauces are a vital in Chinese, Mexican, Italian, Greek, Japanese, and Indian cuisines, their popularity is driving the demand for sauces.

The popularity of hot and spicy variants is among the major trends in the U.S. hot sauces market. The demand for hot sauces in the country is increasing due to the growing willingness of natives to try out new cuisines and the rising number of expatriates in the U.S. Cuisines which are known for their hot and spicy flavors are gaining popularity among people. Moreover, the key companies in the market are launching spicy and hot sauces to meet the changing consumer preferences.  

Hence, the growing popularity of hot and spicy sauces, busy lifestyle and rising disposable income of the population, and increasing popularity of ethnic cuisines are leading to the growth of the market. 

Some of the key players operating in the U.S. sauces market are Kikkoman Corporation, McCormick & Company Incorporated, The Kraft Heinz Company, Unilever Group, Conagra Brands Inc., Del Monte Foods Inc., Edward & Sons Trading Company Inc., Ken’s Foods Inc., General Mills Inc., Nestle S.A., C.H. Guenther & Son Inc., and Tas Gourmet Sauce Co.

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Asia-Pacific (APAC) Construction Chemicals Market Identifies the Key Drivers of Growth and Challenges of the Key Industry Players

The APAC construction chemicals market attained a value of $19,754.8 million in 2017. The market is further expected to reach $29,686.2 million by 2023, growing at a CAGR of 7.1% during the forecast period (2018–2023). This growth in the market is due to the increasing awareness about quality construction and rapid industrialization and urbanization. The chemical formulations used with cement, concrete, and other construction materials to hold them together are referred to as construction chemicals. 

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When type is taken into consideration, the APAC construction chemicals market is categorized into asphalt modifiers, sealants, adhesives, protective coatings, concrete admixtures, and others. Out of these, concrete admixtures accounted for the largest value share (more than 45.0%) in 2017. The category is also predicted to grow at the highest CAGR during the forecast period, in terms of value and volume, due to the improving quality of construction in emerging economies, need to reduce water usage and construction time, and increasing demand for roads, buildings, bridges, tunnels, and water retention structures. 

The largest revenue to the APAC construction chemicals market was contributed by China during the historical period (2013–2017), and it held more than 55.0% share in 2017. This is because the country is the largest in terms of purchasing power parity, home to one of the biggest construction sectors in the world, and the second-largest economy in terms of GDP. Moreover, almost all key construction chemical companies have their manufacturing plants in China. India is projected to witness the highest CAGR during the forecast period, in terms of volume and value. 

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India is expected to be the fastest growing construction chemicals market during the forecast period. The country is experiencing a rapid industrialization and urbanization, which is a major factor contributing towards the country’s growth. Also, increased investment in infrastructure development is also driving the demand of construction materials in the country. Increasing housing demand due to rising population along with increasing government initiatives and investments are fueling the APAC construction chemicals market growth.

Rapid urbanization and industrialization are among the key driving factors of the APAC construction chemicals market. The urban population in the emerging economies in the region, including Indonesia, China, and India, is predicted to rise significantly. Due to this, these countries are expected to continue investing heavily in the development of civic infrastructure facilities, new houses, transportation centers, healthcare facilities, and education centers. In addition, the quickly growing manufacturing sector in this region is predicted to result in the construction of new production facilities, assembly plants, and warehousing units.

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APAC Electric Scooters and Motorcycles Market Analysis 2018-2025

The APAC electric scooters and motorcycles market is projected to reach 31.2 million units by 2025, according to P&S Intelligence.

The growth of the market is majorly driven by the rising urbanization in the growing economies of the APAC region such as India and China, the increasing demand for the means of transport in small cities in the APAC region, and the growing environmental concern and awareness.

Insights into market segments

On the basis of battery type, the APAC electric scooters and motorcycles market is segmented into sealed lead acid (SLA) and lithium-ion (Li-ion) batteries. Among these, the volume sales of the SLA category accounted for a larger share, accounting for 85% contribution in 2017. However, the Li-ion category is expected to grow at a faster rate when compared to the SLA category during the forecast period, owing to their light weight and longer expected life.

On the basis of technology, the APAC electric scooters and motorcycles market is segmented into plug-in and battery types. Among these, the plug-in category recorded higher sales by volume, accounting for more than 90% share in the market in 2017. The category is expected to continue its dominance in terms of size against the battery category during the forecast period as well, owing to ease of convenience and the lack of battery swapping infrastructure in the region.

The ever increasing urbanization in the developing nations of APAC are expected to benefit the sales of the electric scooters and motorcycles in the region during the forecast period. The developing economies like India and China primarily contribute to this rapid urbanization. In general, the travel needs of the population in such economies involve short and frequent rides, which can drive the growth of APAC electric scooters and motorcycles market.

Rising urbanization and increasing demand for lighter modes of transport expected to boost the market growthIncreased environmental concern and awareness raised by the government promoting the growth of the market

Governments of various countries in the region have been trying to raise awareness among the masses to adopt eco-friendly means of transport (electric, and hybrid-electric) through their awareness programs and initiatives. Also, the increased environmental concern for the degrading air quality by responsible institutions promoted the growth of the market in the recent past. Also, some of these nations provide subsidies for electric two-wheelers; for example, the government of India provides subsidy for the purchase of electric two-wheelers, thereby driving the APAC electric scooters and motorcycles market growth.

Some of the key players in the APAC electric scooters and motorcycles market are Yadea Group Holdings Ltd., AIMA Technology Group Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Dongguan Tailing Electric Vehicle Co. Ltd., and VMOTO Limited.

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