Micromobility Market Predicted to Generate $9.8 Billion in 2025

Micromobility is rapidly becoming one of the most viable options for people who need to cover short distances, five miles or less, quickly. The utilization of light duty vehicles, such as kick scooters, scooters (electric and conventional scooters), and bikes (electric and pedal bikes), come under this mode of transportation. The rapidly surging road congestion is one of the prime factors which are resulting in the growing demand for micromobility across the world. Urbanization, rising middle-class population, and growing affordability have led to an increased number of vehicles on the road. It is in order to take care of these problems that several countries are looking for alternative ways of traveling.

Attributed to all these factors, the global micromobility market is expected to reach $9.8 billion in 2025, from $3.0 billion in 2018, advancing at a 19.9% CAGR during the forecast period (2019–2025), as per a research conducted by P&S Intelligence. Kick scooter sharing, bike sharing, and scooter sharing are the three service types provided by micromobility. Out of these, the largest demand is projected to be created for bike sharing during the forecast period because of the extensive usage of these services in the Asia-Pacific (APAC) region, particularly in China. The fastest growth in demand is predicted to be registered by kick scooter sharing in the coming years.

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One of the key factors which is leading to the rising requirement for bike sharing services is that it is an economical mobility option. The commuting cost associated with bike sharing services is quite low, with an initial fixed fee for unlocking the bike and $0.15 per 30 minutes of travel on an average, which is much less than that of other public shared mobility services. While e-bike sharing costs more than pedal bike sharing, shared e-bikes are more economical than other modes of shared transport services. Due to these factors, various companies have started providing subscription-based bike sharing services on monthly, weekly, or daily basis, which is expected to make commuting more economical for regular users.

Furthermore, the demand for kick scooter sharing services is growing due to the rising popularity of kick scooters as a fun and recreational traveling option. The primary consumer base for kick scooter sharing services has been observed to be the millennial group (average age between 20 and 35 years). These users consider kick scooter sharing as an enjoyable and fun option for commuting. In addition to this, a significant number of solo travelers find these services useful for sightseeing and exploring new places. It is due to these factors that the popularity of kick scooter sharing is gaining traction.

Out of all the regions, namely Europe, Latin America, Middle East and Africa (LAMEA), North America, and APAC, the APAC region is projected to account for the major share of the micromobility market in the coming years. The primary reason for this is the presence of major players in region, such as Ofo, Mobike, and Hellobike. Furthermore, these services are cheaper than all the other shared mobility services that make them an attractive option for people who need economical services. During the forecast period, the fastest growth in demand for micromobility is projected to be witnessed by the LAMEA region.  

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Smart Bandages Trend to Drive Wound Dressing Market

Expected to generate $17.3 billion in 2023, the worldwide wound dressing market would grow at a 7.2% CAGR during the forecast period (2018–2023) from the 2017 figures of $11.4 billion. The quickening of the wound healing process by allowing gaseous exchange, preventing the spread of infections, absorbing exudates, and providing thermal insulation is achieved by using wound dressings. They are extremely helpful in treating different types of wounds, such as those of surgical and chronic nature and ulcers.

The wound dressing market is observing the trend of the inclusion of smart bandages in wound management. Smart bandages, which are capable of curing chronic wounds, were designed by the researchers of Massachusetts Institute of Technology, University of Nebraska–Lincoln, and Harvard Medical School. Smart bandages are capable of releasing dose-dependent and multiple drugs at one time, which accelerates the healing process; that is why they are being increasingly adopted. These bandages are equipped with microprocessors that control the drug release, and also alarms and temperature and pH sensors.

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Technical advancements in the development of wound dressing products are another influential factor in the wound dressing market progress. Many companies are enthusiastically investing in new and innovative technologies to come up with advanced wound healing products. For instance, AQUACEL, a product that minimizes the risk of infection at the site of surgery, was launched by ConvaTec Group PLC in September 2016. This surgical dressing aids in wound healing by conforming to specific wound types, including lumbar spine surgery and cesarean section and imparting antimicrobial protection to the wounds.

On the basis of region, the wound dressing market is categorized into North America, Latin America, Europe, Middle East & Africa, and Asia-Pacific (APAC). During the historical period (2013–2017), the North American region held the largest share in the market. During the forecast period, the fastest growth is predicted to be witnessed by the APAC region. This can be correlated to the rising diabetes prevalence in numerous Asian countries, particularly China. The International Diabetes Federation predicted that by 2035, approximately 142.7 million people would suffer from diabetes in China.

Therefore, the market for wound dressing is predicted to witness significant growth in the forecast period due to the innovations that aim to introduce highly effective wound dressings that work in the in minimal time possible with least complexities.

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Drug of Abuse (DOA) Testing Market - Worldwide Top Players Analysis, Segmentation and Future Scope

The increasing adoption of drug of abuse (DOA) testing at the organizational level, growing number of road accidents and deaths, and rising consumption of illicit drugs are some of the reasons behind the growth of the DOA testing market. In 2016, the market generated a revenue of $4.8 billion, and it is predicted to advance at a CAGR of 9.6% during the forecast period (2017–2023). Drug testing refers to the technical analysis of sweat, blood, saliva, urine, breath, and hair samples to detect the presence of cocaine, cannabis, and alcohol.

Based on product, the drug of abuse testing market is bifurcated into consumable and equipment. Of these, during the historical period (2013–2016), the consumable bifurcation led the market in terms of revenue, and it is predicted to continue leading it during the forecast period. The reason behind the rapid growth of consumables is that these are handy and available for on-site testing for various types of drugs. Consumables include products such as rapid test kits that are used for the testing of illicit drugs.

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To improve safety, increase productivity, and reduce absenteeism, organizations are rapidly adopting DOA testing at the workplace. As per the Substance Abuse and Mental Health Services Administration, in 2015, the hospitality and food services sector displayed the heaviest use of illicit drugs, and around 19.1% fulltime workers, aged between 18 and 64 years, in the U.S. were reported as consuming illicit drugs in a span of 30 days during 2008–2012. Due to the rising consumption of illicit drugs, organizations are rapidly using DOA testing kits.

As per the 2014 National Survey on Drug Use and Health (NSDUH) in the U.S., 10.0 million people aged 12 years or above were driving after consuming illicit drugs in 2013. The consumption of illicit drugs is rising rapidly, due to which the usage of drug abuse testing is also on the rise, which, in turn, is resulting in the growth of the DOA testing market. As per the World Drug Report by United Nations Office on Drugs and Crime, in 2013, around 203.0 million illicit drug users aged 15 years to 64 years existed in the world, and the number increased to nearly 246.0 million in 2015.

Competitive Analysis

Some of the key players operating in the drug of abuse testing market include Danaher Corporation, Siemens AG, Merck KGaA, Drägerwerk AG & Co. KGaA, Express Diagnostics Int'l, Inc., bioMérieux S.A., Waters Corporation, Roche Holding AG, Quest Diagnostics Inc., Laboratory Corporation of America Holdings, Alere Inc., Abbott Laboratories, Randox Laboratories Ltd., Psychemedics Corporation, Bio-Rad Laboratories, Inc., Sonic Healthcare Ltd., and ThermoFisher Scientific Inc.

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How the Internet has Raised the Popularity of Scar Treatment?

As communication has become easier in today’s time, owing to the excessive use of internet and social media applications, such as Instagram, Snapchat, and Facebook, people are exposed to the whole world out there, which has brought in a heightened awareness regarding appearances and aesthetics. This has immensely contributed to the growing demand for cosmetic surgeries and scar treatment products. 

The American Society of Plastic Surgeons reported that in 2017, about 1,790,830 cosmetic surgeries were performed in the U.S., out of which 182,321 were for scar revision. The growing influence of international culture in people’s lives and the need to constantly look good are expected to add to the demand for scar treatment products and technologies. Advancements in the medical field have led to the invention of minimally invasive procedures, such as laser treatments that are highly effective in scar reduction, and that too in the shortest possible time.

A study published by P&S Intelligence estimated that the scar treatment market would grow at a 10.5% CAGR from $19.2 billion in 2017, ultimately generating a revenue of $34.9 billion. Scars are the body’s natural way of replacing and healing broken or damaged skin. They are made of fibrous tissue and may occur due to various reasons, such as injuries, infections, inflammation, and surgeries.

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Scar treatment aims at reducing the prominence of scars on the skin using various methods, including creams, ointments, and even laser treatments. The different types of scars are contracture, post-surgical, keloid and hypertrophic scars, and acne, and stretch marks. In 2017, the largest demand for treatment products was for post-surgical scars. It is further predicted that with the increasing number of surgical procedures in the coming years, the demand for effective post-surgical scar treatment would rise further.

The fastest growing scar treatment market is projected to be Asia-Pacific in the near future. This could be attributed to the importance of flawless skin that is embedded in many Asian cultures, as well as the growing focus on personal wellbeing. In India, as per the World Health Organization, every year, about 1,000,000 people suffer from burns of varying degrees; burns may also lead to scar formation. Factors such as the rising prevalence of skin diseases and even the increasing disposable income are instrumental in driving the demand for scar treatment products and technologies in the region. 

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Lipstick Market Players, Competition, Situation & Trends Research Report

Increasing demand for lipsticks from working women and the growing popularity of e-commerce beauty websites are the key factors driving the growth of the lipstick market. The market, in 2018, attained a size of $9.2 billion, and is projected to advance at a CAGR of 6.6% during the forecast period (2019–2024). Growing at the current rate, the market is expected to value $13.4 billion by 2024. In the report, the market is segmented by product type, color, applicator, gender, distribution channel, age, and geography.

On the basis of color, the lipstick market is categorized into pink, red, nude, maroon and others, which include orange, black, gold, violet, silver, green, silver, gray, white, yellow, purple, blue, and multicolor. Among these, in 2018, the red color category held the highest revenue share in the market and is further predicted to continue dominating it in the near future. However, the nude color category is anticipated to register the fastest growth at a CAGR of more than 8.0% in the sector.

Further, based on product type, the lipstick market is divided into shimmer/pear/frost, matte, satin/sheer, glossy, luminous, metallic, crème, and natural. Among these, the demand for matte lipstick is anticipated to record the fastest growth, witnessing a revenue CAGR of more than 8.5% in the forecast period. It gives a velvety look to the lips and has the ability to last all day. Further, it is available in a diverse range of dark shades, due to which it is preferred by most women and is predicted to grow. However, satin/sheer type lipstick is expected to contribute the highest revenue to the market in the near future.

Across the globe, the market is projected to register the fastest growth in Asia-Pacific (APAC) during the forecast period. With surging social media influence and rising female financial independence, the lipstick market is rapidly progressing in the region. One of the major factors driving the market around the world is the increasing inclination toward e-commerce beauty websites. In the past few years, e-commerce platforms have led to a transformation in the beauty industry, majorly due to the growing internet penetration.

Across the globe, in 2017, the internet was being used by 48.0% of the global population, equaling over 3.47 billion internet users, out of which females accounted for 45.0% users. Besides this, the use of lip powder, particularly in matte lipsticks, is being observed as a trend in the lipstick market. It is gaining immense popularity among women, due to the creamy and smooth texture of matte finish. It also consists of hydrating ingredients, including glycerin, Vitamin E, and coconut oil, which keep the lips pigmented.

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For a working woman, lipstick is considered an essential product because it boosts their confidence. The increase in the number of female professionals is resulting in a growing demand for lipsticks. This is directly boosting the lipstick market and creating ample growth opportunities for key manufacturers, such as Shiseido Company Limited, L’Oréal SA, Avon Products Inc., Revlon Inc., and Oriflame Holding AG.

Hence, due to the changing lifestyle and growing appearance consciousness, the market for lipsticks is expected to prosper at a significant rate in the near future.

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How is Growing Focus on Fitness and Health Driving Chlorella Powder Ingredient Market?

The increasing health consciousness among people and growing risk of cardiovascular diseases have resulted in a shift toward healthier food options. Attributed to this, individuals are increasingly opting for plant-based protein supplements, which is why the plant-based protein supplements market is predicted to grow to about $8 billion in 2025 from $4 billion in 2017. The preference toward vegan protein supplements is rising because of their various advantages, such as improved metabolism, cardiovascular health, and digestion. Ascribed to all these factors, the demand for chlorella is growing as it is considered to be a great source of protein, containing 50–60% protein, which is much higher than other vegan and animal-based protein sources.

Chlorella is produced from chlorella, which is a genus of freshwater and terrestrial unicellular green alga that has several micronutrients and macronutrients, such as vitamins, proteins, and minerals, and provides various health benefits to animals and humans. According to a research conducted by P&S Intelligence, the global chlorella powder ingredient market generated a revenue of $423.7 million in 2018 and is projected to reach $1,106.8 million in 2024, registering a 16.5% CAGR during the forecast period (2019–2024). The powder is distributed by different channels, namely convenience stores, pharmacies, supermarkets/hypermarkets, specialty stores, and online platforms. Among these, the largest demand for chlorella powder ingredient was created by supermarkets/hypermarkets during 2014–2018.

Another key driving factor of the chlorella powder ingredient market is the rising demand for organic skin and hair care products. The different reasons for this growing requirement for hair and skin care products are the increasing population of working women around the globe, surging need for organic and natural products, and rising disposable income of people. At the present time, the consumers are looking for products which are free from any harsh chemicals. As chlorella contains various vitamins, minerals, and other nutrients, which benefit skin and hair immensely, its requirement from several cosmetic product and personal care companies is increasing. 

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Apart from the aforementioned companies, other players offering chlorella powder ingredient products, across the globe include Phycom BV, Tianjin Norland Biotech Co. Ltd., Organika Health Products Inc, NOW Health Group Inc., Green Foods Corporation, Swanson Health Products Inc., TOOTSI IMPEX Inc., Taiwan Chlorella Manufacturing Company, Health Ranger Inc., and Bionest Corporation SDN. BHD.

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Alloy Wheel Market Business Opportunities - Global Industry Analysis till 2025

The global automotive alloy market observed significant evolution during the historical period. Major factors propelling the development of the market include research and development for improving fuel efficiency, stringent emission norms, and growing governments’ legislations for reduction in complete vehicle weight. In addition, rapid urbanization, increasing vehicle production, growing demand for automobiles, regulations related to fuel efficiency, and improvement in driving dynamics are further boosting the evolution of the market.

Automotive alloys are used in manufacturing of powertrain, chassis, and exterior and interior parts of commercial and passenger vehicles to reduce their weight and increase fuel efficiency. The automotive alloy market has been segmented on the basis of type, sales channel, vehicle type, and geography.

On the basis of type, the alloy wheel market has been categorized into steel, magnesium, aluminum, and others. The market for aluminum alloys is expected to increase subsequently during the forecast period as automobile manufacturers are developing vehicles of lightweight with aluminum alloys. Approximately 7% fuel efficiency can be increased with a reduction of about 11% vehicle weight. Reduction in weight of vehicles enables original equipment manufacturers (OEMs) to reduce emission, improve driving dynamics, and increase fuel efficiency.

On the basis of sales channel, the alloy wheel market has been categorized into OEMs and aftermarket. Among these, the OEMs category dominated the market during the historical period, primarily due to high production of vehicles and direct integration of the alloys in manufacturing of the vehicles.

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Based on region, the alloy wheel market has been categorized into North America, Europe, Asia-Pacific (APAC), and rest of the world. APAC is anticipated to be the major market for automotive alloys during the forecast period, mainly due to the developed automotive industry in China. For instance, over one-third of the total vehicle in the world and over two-third of the total vehicle in the APAC region were produced in China in 2017. Apart from China; Japan and India are also huge markets for automobiles. The growth of the market can be attributed to the vast population in the region and advancement in economic conditions of people in emerging countries such as China, Indonesia, Thailand, and India.

Execution of stringent environmental rules across the world is driving the requirement for lightweight vehicles. Numerous international administrations are forming strict standards and guidelines so as to lessen the greenhouse gas emissions. For instance, the North American and European countries have formulated extensive plans toward the development of vehicles of lightweight so as to attain the carbon emission reduction target by 2025.

Several advancements across the APAC region for decreasing carbon discharge have also amplified. China, the major emitter of greenhouse gas across the globe, is presenting new guidelines that are anticipated to put a lid on carbon emission. Other APAC countries, such as Indonesia, Australia, and India are also presenting new regulations and norms to mitigate climate change by decreasing carbon emission. These guidelines are being executed across the globe, leading to substantial progress of the automotive alloy wheel market.

Some of the key players operating in the global automotive alloy wheel market include AMG Advanced Metallurgical Group N.V., Alcoa Inc., ArcelorMittal South Africa Ltd., Kobe Steel Ltd., Constellium N.V., Novelis Inc., ThyssenKrupp AG, UACJ Corporation, Norsk Hydro ASA, and Nippon Steel & Sumitomo Metal Corporation.

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