How is Internet of Things (IoT) Revolutionizing Healthcare?

The healthcare spending is set to experience a growth of 5.4% between 2018 and 2022, compared to the 2013–2017 growth rate of 2.9%, according to the 2019 Global Health Care Outlook report published by Deloitte. Not only are the number of hospitals, cases of chronic diseases, and geriatric population increasing, but the sector is also going through rapid technological advancements. One of the recently introduced technologies, which is also becoming rapidly popular, is internet of things (IoT). Before delving into its application in healthcare, it is important to first understand its basic concept. IoT involves equipping various electronic devices with some sort of communication technology so that the data exchange among these happens automatically without the requirement for humans. In the medical field, these could range from a simple electronic prescription log to complicated equipment such as ventilators, cardiac monitors, and implantable pacemakers.

As per a study by P&S Intelligence, the IoT healthcare market valued $56.1 billion in 2017, from where it is predicted to ultimately reach $267.6 billion in the coming years at a CAGR of 30.2%. The technology finds many applications in the medical and wellness sector, including clinical operations and workflow management, telemedicine, connected imaging, medication management, and inpatient monitoring. Among these, the heaviest utilization of IoT up till now has been in telemedicine, and the trend is set to continue in the near future. It allows patients and doctors to see and communicate from a distance via audio-visual equipment. Not only can they talk to each other, but the patient data can be also automatically transferred from medical devices straight to the healthcare provider.

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This is of special benefit to patients who live in remote areas, far from a healthcare facility such as a clinic, nursing home, or a full-fledged hospital. IoT-enabled telemedicine saves time by enabling quick data exchange and money by doing away with frequent hospital visits. The elderly or those who are confined to a bed and are unable to travel are also prominent users of telemedicine. Defibrillators, insulin pumps, cardiac monitoring devices, continuous positive airway pressure machines, and oxygen tanks are the most prominent remote patient care devices to be equipped with IoT. As these provide swift medical care and improve patient outcomes, the demand for these devices is rising across the world.

Growing prevalence of lifestyle-related and chronic diseases has created the need for constant self-monitoring of health parameters. Several mHealth apps help people keep a check on their glucose levels, heart rate, blood pressure, and other vitals. These apps and connected medical devices have popularized the use of IoT in personalized healthcare management, as these also record the disease progression, and help patients in scheduling appointments and managing medication. The rising smartphone use has led to an increase in mHealth app downloads, further impacting the IoT healthcare market positively.

Similarly, on the basis of technology, the domain can be divided into BLE, Wi-Fi, ZigBee, NFC, satellite, and cellular. Among these, Wi-Fi led the IoT healthcare market in 2017 with 41.8% revenue contribution. The reason for this is the growing adoption of Wi-Fi tools and gadgets in hospitals for transferring data to and from the cloud. This is also why, as per the study, the Wi-Fi category is expected to advance with the highest CAGR (32.1%) during the forecast period.

Hence, we see that advancements in technology, allowing for remote patient monitoring and real-time disease management, will continue to drive the IoT healthcare market progress.

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Global Radiation Dose Management Market is Expecting Worldwide Growth

The rising concern associated with radiation exposure, increasing awareness and industry initiatives regarding the issue, and surging prevalence of chronic diseases are some of the factors responsible for the growth of the radiation dose management market. In 2016, the market generated a revenue of $129.8 million, and it is expected to attain a size of more than $1700.0 million by 2023, advancing at a CAGR of 46.0% during the forecast period (2017–2023).

RDM refers to a solution that can be integrated with medical systems, such as electronic health record (EHR), picture archiving and communication system (PACS), and radiology information system (RIS), to monitor, archive, and track the radiation exposure and aid in improving patient safety. Based on product, the radiation dose management market is bifurcated into solutions and services. Of these, during the historical period (2013–2016), solutions dominated the market, and these are projected to continue dominating it during the forecast period.

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One of the main purposes of radiological protection is to prevent the patient from the adverse effects of radiation. Exposure to high radiation doses over a short period can sometimes cause life-threating diseases, such as cancer and radiation sickness, symptomized by fainting, nausea, vomiting, hair loss, diarrhea, bleeding, confusion, and mouth and skin sores. Radiation exposure not only affects patients, but it can also affect the public, as well as those inside medical and emergency settings. Therefore, the need to check radiation exposure is boosting the growth of the radiation dose management market.

For instance, as per the United States Food and Drug Administration (USFDA), for nuclear medicine, the average adult effective dose is between 0.2 and 416 mSv and estimated dose equivalent (no. of chest X-rays) is 10–2050. Further, the incidence of chronic diseases, such as chronic obstructive pulmonary disease, cancer, hepatitis, acquired immunodeficiency syndrome, and cardiovascular diseases, is growing. These diseases are diagnosed by different imaging techniques, such as CT scan, which need various radioactive compounds to detect the disease.

Hence, the growing awareness on the adverse effects of radiation exposure, governments’ surging initiatives, and increasing incidence of chronic diseases are predicted to augment the market growth. 

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Beer Market Revenue and Industry Expansion Strategies

Increasing disposable income of individuals in developed and developing countries, rapid changes in lifestyle, and creative marketing and innovative promotional strategies by the market players are some of the key factors driving the beer market growth. Additionally, spending more on beers by young urban-dwellers is also contributing to growth of the market.

Beer is an alcoholic beverage prepared by saccharification and fermentation of grain. It is one of the most extensively consumed alcoholic beverage worldwide, after tea and coffee. Ale, lager, stout and porter, wheat, India pale ale (IPA), and malt are types of beer that are being consumed in the recent times. Some other types of beer include low or no alcoholic content beer, premium lager beer, standard beer, and crafted beer. Presently, beer is a part of social milieu in many nations, and is associated with social traditions such as beer festivals. Consumption rate of beer is mostly high in the European countries as compared to Asia-Pacific (APAC).

Based on packaging, the beer market has been categorized into bottled, canned, and draught. Of these, draught still remains the majority of packaging for beers. On the basis of sales channel, the beer market has been categorized into on-trade and off-trade.

Booming demand for beers will support the market growth across the globe, especially in APAC. Due to increasing population and rapid adoption of western culture in the region, beer market in APAC is expected to register the fastest growth in coming years.

Growth Drivers of Market

Major factor that drives the demand for beers is changing lifestyle of populace around the world. In the recent times, drinking in bars or house parties is becoming a part of sociocultural context. Additionally, attitudes toward alcohol are changing, especially among young urban-dwellers, as drinking culture becomes more popular. Globally, they are now spending more on beers. These factors are boosting the demand for quality beers and thus driving market growth. Furthermore, beer is more widely accessible presently, with increasing number of outlets. Hence, the beer market has risen at a constant rate over the years with a continuous rise in number of beer consumers.

In addition, presently, beer companies have not marketed effectively for females, so there is a huge opportunity to increase their sales revenue by attracting female consumers. Due to increased percentage of working women and rapid adoption of western culture in last few years, beer consumption by female has considerably increased. As a result, women are going to be one of the major consumers of beers in future, and thus pose huge opportunity for the beer market, across the globe.

Some of the key players operating in the global beer market include Asia Pacific Breweries, Grupo Modelo, Heineken N.V., Molson Coors Brewing Company, Yanjing Brewery, Tsingtao Brewery Company Limited, Carlsberg Breweries A/S, Sapporo Breweries, Anheuser-Busch Companies Inc., Asahi Breweries, SABMiller, Kirin Brewery Company Limited, and Scottish & Newcastle.

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Growing Trend of Anti-Drone Market in North America

The North American anti-drone market is projected to grow at a substantial rate during the forecast period, due to increasing incidences of security violation by illegal drones, and increasing terrorist acts and nefarious actions across the region has primarily propelled the market growth. The market is also boosted by the increase in detection and close encounters of drones with aircrafts. Anti-drones are used to detect, recognize, and neutralize or destroy rogue drones. These are also known as unmanned aerial vehicles (UAVs). These systems use different technologies to detect and counterbalance unmanned aircrafts such as high energy lasers, jamming, command and control (C2), directed energy weapons, electro-optical surveillance, electronic surveillance, and radio frequency threat management.

On the basis of technology, the North American anti-drone market has been classified into electronic, laser, and kinetic systems. Due to innovation in technology, electronic system has been noticed to be a commanding tool to be used in anti-drone. Hence, the market for electronic anti-drones is anticipated to grow at the fastest rate during the forecast period.

On the basis of geography, the North American anti-drone market has been categorized into the U.S. and Canada. The U.S. market will rise at a faster rate, due to high defense department budget. In the year 2017, the U.S. military spent around $810 billion against $760 billion in 2016. Recently, Federal Aviation Administration started a Pathfinder Programme and chosen anti-UAV defense system (AUDS) to begin a trail to guard the U.S. airports from UAVs.

Growing threats of terrorist activities and increasing nefarious actions across the region are the major drivers propelling the North American anti-drone market. An upsurge in the usage of drones for commercial activities has led to an evolution in significant threats such as attacks using unmanned aircrafts and violation of privacy that has developed concern over public safety. In the U.S., reports of UAVs flying along the Southwest border have pointed in recent time, with more than 36 detections since October 2017. This data fact is on course to quadruple from the preceding year, according to the U.S. Customs and Border Protection, where it is suspected that criminal groups are using the UAVs for surveillance while looking for paths to circulate drugs and other illegal material into the U.S.

Faster adoption of anti-drones in North America can be viewed as a profitable opportunity for players operating in the North American anti-drone market. Factors like usage of anti-drone systems for micro-UAV detection capabilities, and long ranges have amplified their demand for defense applications and can produce substantial opportunities for this market. Additionally, developments in interdiction range in RF jamming/spoofing and detection efficiency are anticipated to fuel the demand for these systems in the region.

Some of the key players operating in the North American anti-drone market include The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, and SRC Inc.

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Adaptive Cruise Control Market Globally Business Outlook

The growing number of road accidents and increasing vehicle safety regulations and initiatives are the key factors contributing to the growth of the adaptive cruise control (ACC) market. In 2016, the market attained a size of $4767.0 million, and it is projected to generate a revenue of $15,290.0 million by 2023, progressing at a CAGR of 18.3% during 2017–2023 (forecast period). ACC automatically adjusts the speed of the vehicle to keep a safe distance from the vehicles ahead.

Based on application, the ACC market is bifurcated into passenger and light commercial vehicles. Of these, during the historical period (2013–2016), passenger vehicles dominated the market, and these are predicted to maintain their dominance during 2017–2023. This is attributed to the surging awareness among consumers about safety, increasing premium car sector, and formulation of strict norms by regulatory bodies, such as the New Car Assessment Program. Furthermore, the increasing demand for luxury cars in Asia-Pacific (APAC), specifically India and China, is predicted to contribute to the growth of the market.

Geographically, in 2016, North America and Europe collectively contributed more than 65.0% revenue to the adaptive cruise control market, and these are predicted to dominate the market during the forecast period as well. This is attributed to the increasing production of vehicles, technological developments, and strict safety regulations. The United States New Car Assessment Program (US NCAP) is encouraging people to install such systems in vehicles. Furthermore, the rapid integration of safety features in vehicles is leading to an improved rating system, which, in turn, would result in the market growth.

The rising number of road accidents are one of the prime causes of deaths around the world, with Africa registering the highest road traffic-related accident rate, followed by APAC. As per the World Health Organization, in 2013, due to road accidents, the total number of deaths was 1.25 million, and in 2015 it reached 1.34 million. To control the growing number of accidents across the globe, various associations and trade unions are coming up with vehicle safety regulations and initiatives for vehicle and passenger safety.

Thus, the increasing awareness about safety while driving, increasing adoption of advanced driver assistance systems, and stringent vehicle safety regulations and initiatives are the key factors helping the market grow.

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Diesel Exhaust Fluid (AdBlue) Market Growth Factors, Applications, Regional Analysis, Key Players and Forecasts

The increasing level of pollution can be viewed as the key factor driving the diesel exhaust fluid (AdBlue) market growth. It is being estimated that the sector will witness a CAGR of 8.8% in the forecast period 2018–2023, generating revenue of over $20,500 million. The sales of heavy-duty vehicles have considerably increased over the last decade and so has the amount of harmful substances discharged into the atmosphere. Thus, concerns over air pollution have impelled governments to form stringent regulations on emissions and encourage the adoption of technologies that help reduce the pollution level.

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Diesel exhaust fluid (DEF) or AdBlue is a composition of 67.5% deionized water and 32.5% urea. It is used to lower nitrogen oxide emissions from the exhaust, which it achieves via selective catalytic reduction. Based on storage solutions, the diesel exhaust fluid (AdBlue) market can be categorized into bulk storage, portable containers, and dispensers. During the historical period 2013–2017, bulk storage registered the highest sales volume, as AdBlue was primarily bought for heavy-duty vehicles, such as trucks, which require a constant supply of the fluid. Thus, a rise in truck sales directly resulted in demand for AdBlue in bulk.

The trend being observed in the diesel exhaust fluid (AdBlue) market suggests an increase in the use of DEF in passenger cars too. Due to growing environmental concerns, even people have started doing their bit to reduce emissions. This is apparent from the fact that historical sales volume and revenue CAGRs of AdBlue for passenger cars were higher than those for heavy-duty vehicles, and this trend is expected to continue during the forecast period as well. As more people adopt this technology for their vehicles, the sales of DEF will increase further.

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Along from logistics companies and individuals, farmers are trying to cut down on emissions. The fact that during the historical period, DEF sales for non-vehicular applications, which include diesel pumps and tractors, grew more than those for vehicular applications, aptly supports this development. To cater to the rising demand for produce in the developing world, North American and European farmers are working toward increasing their yield. This is pushing the demand for diesel pumps and tractors, which, coupled with the need for reduced emissions, is expected to take the diesel exhaust fluid (AdBlue) market forward.

One of the few restraints in the domain growth, however, is the unwillingness of few people toward the adoption of this technology due to its high implementation cost. As it requires installation of additional equipment, such as DEF tanks and pipes, expenses increase substantially. On the bright side, there is a huge untapped diesel exhaust fluid (AdBlue) market in emerging economies, where the problem of air pollution is quite grave and demands immediate actionable measures. Also, owing to rising disposable income, people in these countries can afford the latest technology. Thus, the high future sale of DEF in the developing world is expected to help keep the global market stable.

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Seasonings and Spices Market is projected to report a CAGR of 6.0% between 2018 and 2023

Seasonings and spices market is forecasted to reach $30,412.8 million by 2023, growing at a CAGR of 6.0% during 2018–2023. The growth in the market will be led by the increasing awareness on the medical benefits of spices, the rising demand for ethnic cuisines, and the growing popularity of convenience foods.

Insights on market segments

In terms of product, the seasonings and spices market has been categorized into whole and ground. The whole seasonings and spices market is expected to grow at higher rate over ground, in terms of volume and value, during the forecast period. The faster growth of the segment is due to the convenience of processing whole spices, from both the industrial and the residential perspective.

On the basis of end use, the seasonings and spices industry has been categorized into industrial, food service, and retail. Due to the growing usage of seasonings and spices in food processing industries to meet the consumer demand, the industrial sector is expected to grow at a CAGR of 4.9% and 6.0% in terms of volume and value, respectively, during the forecast period.

Asia-Pacific will remain the largest market during the forecast period

The seasonings and spices market is expected to generate largest revenue in Asia-Pacific, accounting $10,439.6 million in 2017. The market is being driven by factors such as the heavy consumption of seasonings and spices in South Asian countries, growing spice consumption in the Far East, and growth in the seasoning and spice production in the Asian countries.

From supply side, the Asia-Pacific seasonings and spices industry growth is driven by increase in the production of spices in different countries, favorable environment and climatic conditions for spice production, and support from government agencies to increase spice production. For example, in September 2016, the National Bank for Agriculture and Rural Development (NABARD) in India announced its plan to provide financial support to promote 200 farmer producer companies (FPOs) in Tamil Nadu.

Major players launching innovative products to gain a larger market

Key players in the seasonings and spices industry are launching new products to gain a larger market share. For instance, in August 2017, Sleaford Quality Foods Ltd. introduced eight new spices and herbs to its Chef William pot range. Products introduced included yellow mustard seeds, onion powder, celery seeds, and juniper berries. The company further aims to increase its penetration in the food industry by expanding its product portfolio. Similarly, in January 2017, McCormick & Company Incorporated launched new products in the market to bring flavors from across the world to kitchens and grills. Products launched included Korean BBQ marinade mix, Hawaiian woodfire grill marinade, Brazilian steakhouse seasoning, and Cajun hot sauce.

Some of the other key players operating in the seasonings and spices market are Everest Spices, Mahashian Di Hatti Pvt. Ltd., DS Group, Fuchs Group, Paras Spices Pvt. Ltd., Unilever Group, Ajinomoto Group, The British Pepper & Spice Company Limited, Brake Bros Ltd., Jamie Oliver Enterprises Limited, TRS Group, Camstar Herbs Ltd., and Natco Foods Ltd.

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