How Increasing Disposable Income is Contributing in Dermocosmetics Market Growth?

The improvement in the global gross domestic product (GDP) can be attributed to the ease of doing business that has been possible due to globalization. This increase in GDP is indicative of the financial stability of a country, which translates into the increasing disposable income of the individuals there. One such example is of the U.S., where the Bureau of Labor Statistics reported that the personal disposable income in the country is expected to reach $24,174.5 billion by 2026 from $15,928.7 billion in 2016. Another instance of economic prosperity is the figures reported by the Organization for Economic Co-operation and Development for Canada, where the annual household disposable income growth rate rose to approximately 3.4% in 2017 from around 2.0% in 2009. Economic prosperity has allowed people to spend on products that were earlier bought only by the wealthy and deemed unaffordable by others. Among such products are dermocosmetics, used for the treatment and management of numerous skin disorders. The rising skin disease prevalence and growing concerns of people regarding their appearance have been instrumental in driving the demand for dermocosmetics.

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In a study conducted by the P&S Intelligence, from $52.5 billion in 2018, the dermocosmetics market is expected to witness a 6.5% CAGR to amass $76.3 billion in the coming years. Dermocosmetic products are of two types — haircare and skincare. Skincare dermocosmetic products were in larger demand in the past and would continue on the path in the coming time as compared to haircare products. Skincare products are designed to clean the skin by removing oil, dirt, and dead cells and also provide moisture to the skin. There are several types of skincare products, such as toners, creams, gels, serums, cleansers, and lotions. Among these, in the near future, the most popular skincare product is predicted to be creams, which are essentially a blend of water and oil, and these may or may not have medicinal ingredients.

Even though people may suffer from same ailments with similar causes, at times, the response by the body could be entirely different. This variation in response can be an avenue for cosmetic manufacturers to multiply their profits. Both the hair and skin are extremely sensitive to water, climatic conditions, and pollution. Previously, only basic products were available in the market that aimed at treating the conditions superficially. With advancements in technology and research, personalized products, which cater to special skin and hair types, are providing a more customized and targeted treatment to people, therefore are witnessing a spike in demand. Many renowned companies, such as L’Oreal S.A., Estee Lauder Companies Inc., and Phyto Botanical Power, have launched a special product range based on geography, targeting the needs of people depending on the climatic conditions they live in.

Cosmetic products can either be medicinal or non-medicinal, therefore are sold via different distribution channels, namely online and pharmacies & retail stores. In the past, majority of the sales were reported by pharmacies and retail stores, and in fact, in the coming time, the popularity of this channel would continue to grow. This can be attributed to the ready availability of such products at pharmacies and retail stores. However, in the coming time, online channels are expected to witness a rapid increase in popularity, owing to the easy ordering and home delivery facility provided, thereby resulting in an even higher demand for dermocosmetics.

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Electric Two-Wheeler Sharing Market Gaining Momentum in North America

Market Overview
The North American electric two-wheeler sharing market is projected to grow considerably in the coming years, owing to growing demand for quick and affordable last-mile connectivity, ease of availability, improvements in the energy storage systems, and significant technological advancements needed for efficient fleet management and vehicle sharing systems.

Based on the vehicle, the North American electric two-wheeler sharing market has been categorized into scooters, kick-scooters, bikes, and others. The bikes category had a significant share in the market in 2017, owing to their early introduction as compared to other categories. In addition, heavy investments made by leading vehicle-sharing companies into electric bike-sharing start-ups is further expected to boost the market during the forecast period. For instance, in April 2018, Uber Technologies Inc. made a $200 million acquisition of bike-sharing start-up JUMP and further plans to bolster the start-up through significant investment. Such investments helped various electric bike-sharing start-ups to establish a sustainable business model and increase their consumer base, thereby driving the demand for electric bikes. However, kick-scooters are expected to be the fastest growing category during the forecast period.

The U.S. leads the North American electric two-wheeler sharing market, owing to the growing number of electric two-wheeler sharing start-ups in the country and wide acceptance/adoption of electric two-wheelers for short commute or last-mile connectivity in the country. Also, these start-ups are being heavily backed up by investors, thereby allowing them to expand their business models to other cities/states in the country and increasing their consumer base. For example, Lime, a U.S.-based electric scooter sharing start-up, is backed by Uber Technologies Inc. and Alphabet Inc. to expand its reach to other cities in the U.S.

Growth Drivers
The growth of the North American electric two-wheeler sharing market is predominantly driven by rising demand for quick and low-cost last-mile connectivity, ease of availability of the shared electric two-wheelers in the region, advancements in the energy storage systems, and technological innovations in sharing business models.

As per World Bank, the urbanites in the U.S. made up 82.06% of the total population in 2017, while the same stood at 81.35% in Canada. With the urbanization on the rise, ground transportation is getting saturated with vehicles in urban region, thus, leading toward a sharp collapse of the urban transportation industry. The growing congestion in the traffic has been reduced to a little extent with the arrival of car sharing, ride hailing, and ride sharing services in the recent past. Electric two-wheeler sharing is helping mitigate the problem of growing traffic congestion, which is also helping the North American electric two-wheeler sharing market grow.

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Industry Competitive Landscape
The North American electric two-wheeler sharing market is dominated by the vehicle sharing start-ups and is marked by the growing number of acquisitions, and financial backings or investments. Some of the key players in the market are Scoot Networks, Skip Scooters, Bird Rides Inc., Lime, and Spin (formerly known as Skinny Labs Inc.).

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Rising Geriatric Population Responsible for Hong Kong Wound Dressing Market Growth

The wound dressing market in Hong Kong is predicted to reach a value of $27.1 million by 2024, witnessing a CAGR of 5.5% during the forecast period (2019–2024). The factors responsible for the growth of the market include the increasing incidence of traumatic injuries, rising geriatric population, and surging prevalence of diabetes. Wound dressings are used for the treatment of chronic, acute other types of wounds. They accelerate the healing of the wound by providing thermal insulation, absorbing exudates, preventing the entry of infectious agents, and allowing gaseous exchange.

The increasing prevalence of diabetes is among the major driving factors of the Hong Kong wound dressing market. As per the Centre of Health Protection, diabetes is one of the major causes of mortality and morbidity in Hong Kong. Furthermore, obese people have a higher probability of suffering from diabetes. Wound development in diabetic patients is rapid and they tend to heal slowly. For instance, diabetic foot ulcer, a chronic complication of diabetes mellitus, needs to be dressed frequently for effective management, thereby leading to the rising demand for wound dressings.

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The Hong Kong wound dressing market is divided into long-term care settings, home healthcare, and hospitals & specialty clinics, on the basis of end-user. Out of these, the hospitals & specialty clinics division accounted for the major share of the market during the historical period and is also projected to experience the highest CAGR, of 6.0%, during the forecast period. The reason for this is the growing applications of advanced wound dressing products in hospitals in Hong Kong in order to address the needs of chronic wound patients.

A key trend in the Hong Kong wound dressing market is the shift in preference from traditional products to advanced therapies. While traditional products facilitate dry healing when used for primary or secondary dressing, advanced variants accelerate the healing, thereby providing relief quickly to the patients. Since delayed wound healing poses challenges for both the patients and healthcare professionals, they are becoming more inclined toward adopting advanced wound dressing products, as they carry a lower risk of infections and facilitate faster healing of the wound.

The rapidly growing geriatric population and increasing prevalence of diabetes in Hong Kong are thus leading to the growth of the market.   

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Speech Analytics Market to Advance at 19.9% CAGR

Speech analytics software reviews and analyzes live customer calls and recordings to draw an analysis of overall customer experience, and help organizations in devising strategies for enhancing customer experience. Valuing $1,010.4 million in 2018, the speech analytics market is predicted to garner $2910.1 million, advancing a 19.9% CAGR in the coming years. The applications of the speech analytics software are risk & compliance management, agent performance monitoring, call monitoring, and customer experience management. In 2018, the largest application area of this software was customer experience management. 

In fact, in the near future as well, it will continue being the largest application area of speech analytics software. This can be attributed to the rising need for the evaluation of the overall customer experience and further predict the customer satisfaction score to help companies improve their product and services sales.

Speech analytics software is being deployed in various industries, such as retail, government, manufacturing, media & entertainment, healthcare, information technology & telecom, hospitality, and banking, financial services, and insurance (BFSI). In 2018, the highest deployment of the software was in the BFSI industry. Financial institutions struggle to engage customers, which is resulting in the deployment of this software to gain better visibility of customers and provide them a better experience. In the coming years, the fastest growth in demand in the speech analytics market is expected to be witnessed by the retail industry. With ever-changing requirements of customers, retailers are employing the software to understand the needs of customers to serve them better and enhance their brand image and up their customer retention rate.

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The demand for speech analytics software is rising from the small and medium enterprises (SMEs) by the day. These enterprises are taking help from the software for gauging customer preferences and current trends to expand their product portfolio and services. SMEs are including the software in their workflow to retain customers and offer them an improved service. Further, the cloud-based deployment of the speech analytics software has improved the accessibility of speech analytics solutions to SMEs, as it does not require any investments for any new hardware installation. 

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Start-Stop Technology Market to Display Healthy Growth During Forecast Period

The stringent emission control regulations and increasing adoption of hybrid vehicles are two of the major factors responsible for the growth of the start-stop technology market. In 2015, the market generated revenue of $2,100.2 million, and it is predicted to attain a size of $7,058.0 million by 2022, progressing at a CAGR of 18.8% during the forecast period (2016–2022). Start-stop technology automatically turns off the engine, when the vehicle is about to stop and restarts it again when the driver takes their foot off the brake in automatic-transmission vehicles or use the clutch in case of manual transmission.

On the basis of product, the start-stop technology market is divided into enhanced starter, direct starter, integrated starter generator (ISG), and belt-driven alternator starter (BAS). Out of these, during the historical period (2012–2015), enhanced starters dominated the market in terms of sales volume and revenue, and these are predicted to maintain their dominance during the forecast period. This is attributed to their better cost-effectiveness and fuel-efficiency compared to BAS and direct starters. Due to these benefits, the demand for enhanced starters is rising, thereby leading to the growth of the market. 

 Based on region, the market is categorized into Asia-Pacific, Europe, North America, and Rest of the World (RoW). Among these, during 2012–2015, Europe led the market in terms of sales volume, and it is projected to continue leading it during 2016–2021. This is ascribed to the high contribution by the U.K., Germany, France, and Italy to the European start-stop technology sector, which is dominated by colossal players, such as Continental AG, Robert Bosch Gmbh, and Denso Corporation.

Furthermore, the rapid development of the technologies in the automotive sector in European countries and surging concerns on carbon emission are two of the reasons behind the growth of the start-stop technology market. In accordance with the European government’s regulations, the average emission level from new cars decreased by 160 g/km during 2006–2012, and by 2020 it is expected to reduce to 95 g/km. In addition, the governments of various individual nations are formulating strict environmental guidelines focusing on reducing the vehicle emission.

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For instance, the Environmental Protection Agency (EPA) has implemented emission standards for light trucks and cars. As per EPA’s target for 2016, the permissible emission from a passenger car could not cross 225 g/mi (gram/mile). Similarly, in 2016, the allowed combined fuel economy for trucks and cars was 35.5 mpg, which is further to surge up to 54.5 mpg by 2025 in North America. Due to the increasing emission from fossil fuel-driven vehicles, the level of air pollution is rising, resulting in major concerns across the globe.

This, in turn, has compelled policy makers to come up with an alternative, i.e. low-emission vehicles. Although, natural gas-based public transit is still preferred as an alternative to fossil fuel-based public transit, hybrid vehicles are earning popularity nowadays owing to their zero-carbon dioxide emission, thus, boosting the progress of the start-stop technology market, mainly in developed nations. Despite the sluggish economic growth in European countries, such as France, Sweden, and Norway, hybrid and electric vehicle sales are expected to be augmented during 2016–2022.

Thus, the increasing penetration of such vehicles and stringent government regulations are projected to fuel the growth of the market during the forecast period.

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Largest Market Share in the Colombian Wound Care market is Expected to be Held by the State of Cundinamarca

Registering a CAGR of 3.6% during the forecast period (2019­–2024), the Colombian wound care market is predicted to reach $93.9 million by 2024, witnessing a substantial increase in its revenue from $76.1 million in 2018.

Taking the geography of the country into consideration, the largest market share in the Colombian wound care market is expected to be held by the state of Cundinamarca. This is mainly ascribed to the increasing research & development activities and rising expenditure on healthcare due to supportive government policies and initiatives. Other states, such as Bolivar, Atlántico, Valle del Cauca, Santander, and Antioquia also hold significant shares in the market on account of the surging incidence of traumatic injuries, burns, and diabetic wounds as well as rising geriatric population.

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The Colombian wound care market is witnessing growth due to the rising focus on healthcare services. The wound care facilities in Colombia are witnessing a surge in demand as both the public and private organizations are increasing healthcare coverage. An article published in the Health and Human rights journal in 2016, mentioned that in the country, the healthcare coverage witnessed a remarkable increase during 1991–2016; starting from 25% population in 1992, the health cover facilities were available to 96% population in 2016. This is indicative of the rising focus of the government on providing excellent healthcare facilities and means to the residents of the country.

Stem cell therapy in wound management is becoming the trend in the Colombian wound care market. Extensive research on stem cells has established their remarkable regenerative abilities, which may help in speeding up the wound healing process. A biotechnology company, BioXcellerato LLC, has its treatment center in Colombia by the name of Torre Medica El Tesoro that provides stem cell treatment for various cosmetic and other conditions. Further, it is involved in stem cell therapy and regenerative medicine research for finding prospective treatments for wound and other skin disorders.

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

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Development of Organized Retail Driving Commercial Refrigeration Equipment Market Globally

In 2017, the global commercial refrigeration equipment market generated a value of $41,396.7 million and is expected to advance at a 6.2% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the rising demand for ready-to-eat products and beverages and development of organized retail. 

The freezers and refrigerators that are utilized for storage, merchandizing, and commercial retail within hypermarkets, convenience stores, supermarkets, restaurants, and other commercial spaces are referred to as commercial refrigeration equipment.

There has been a major transformation in the refrigeration technology in the past few years, as manufacturers have shifted from fluorinated gases (F-gases) to natural refrigerants. Geographically, developed countries in Europe and North America are on the verge of completely eliminating the use of F-gases from their commercial refrigeration equipment.

For instance, a key player in the commercial refrigeration equipment market, Carrier Corporation, changed the technology of its MiniCO2OL commercial refrigerator series quite early by replacing F-gases with natural refrigerants, such as carbon dioxide.

The manufacturing cost of MiniCO2OL refrigerators is quite low, compared to similar F-gas-based equipment. The cost-efficiency factor of such natural refrigerant-based equipment is increasing their demand among small and medium-scale food retailers.

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On the other side, developing countries in Asia-Pacific (APAC) have not yet phased out F-gases, because manufacturers here are yet to get their hands on advanced technology for F-gas elimination. But, considering the CAGR forecasted in the region (9.3% in terms of revenue), it is being assumed that manufacturers will be able to acquire the technology and do away with F-gases.

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