North America Air Quality Monitoring Market Will Led to Huge Growth and Share in Near Future

According to P&S Intelligence, the North American air quality monitoring market is expected to generate $2,628.5 million in revenue by 2024. Due to increasing air pollution levels and growing awareness about its effects on human health and environment, and stringent regulatory framework for air pollution reduction, the market is advancing steadily.

On the basis of product, the North American air quality monitoring market is divided into indoor and outdoor products. The market for outdoor monitoring products is anticipated to experience faster growth during the forecast period (2019–2024), at a CAGR of over 10.0%. Due to increasing acid rain problem and industrialization in the region, the demand for outdoor monitoring products is expected to rise. Further, looking at the indoor category, the market is subdivided into fixed and portable products, out of which the fixed indoor monitoring product category is presently leading it.

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Now, coming to the particulate type, the North American air quality monitoring market is classified into fine particles and coarse particulates. The demand for monitoring products that detect fine particle levels, eventually helping people in reducing these, is projected to experience faster growth during 2019–2024 at a CAGR of 10.3%. The growth can be attributed to the increasing amount of particulate matter 2.5 (PM2.5) being discharged by vehicles and industries, which is leading to the rapid adoption of equipment that can detect it.

Companies operating in the North American air quality monitoring market are introducing a number of new products to attain a larger market share. For instance, in May 2018, HORIBA Ltd. developed the Smart Emission Measurement System (SEMS) that helps in collecting and analyzing emission data, thereby, improving real driving emissions (RDE) test procedures. 

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Kick Scooter Sharing Market to Attain $4,090.5 Million in 2025

The primary consumer base for kick scooter sharing services are the people between the ages of 20 and 35 years, or millennials. The preference of millennials has been quite different from the conventional methods, which is why their inclination towards shared mobility, kick scooter sharing included, is increasing. Rather than buying their own vehicles, people have started opting for shared mobility services for convenience and cost-effectiveness. Kick scooter sharing in particular has become a fun and recreational traveling option for millennials. Apart from this, this concept is also gaining popularity among tourists for exploration and sightseeing purposes. It is due to all these factors that the demand for kick scooter sharing services is growing.

Kick scooters sharing services refer to the utilization of kick scooters for covering short distances, generally 5 km or less. In 2018, the global kick scooter sharing market generated a revenue of $143.4 million and is expected to reach a value of $4,090.5 million in 2025, advancing at a 51.3% during the forecast period (2019–2025). The two models of kick scooter sharing services are multimodal and first and last-mile. Out of these, the first and last-time services were more in demand in 2018 and are the situation is projected to remain the same in the coming years as well.

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Among all the regions, namely Europe, Latin America, Middle East and Africa (LAMEA), North America, and Asia-Pacific (APAC), the largest demand for kick scooter sharing services was created by North America in 2018. The reason for this was the presence of major players and the rapid adoption of these services in this region. Kick scooter sharing services were introduced in North America in 2017 for dealing with the first and last-mile commuting problem. The fastest growth in demand for kick scooter sharing services is expected to be witnessed by Europe during the forecast period.

The emergence of kick scooter sharing services has further provided people with an effective solution to deal with the rapidly increasing road congestion in urban areas. The growing population, increased affordability of vehicles, and rising migration rate from rural to urban areas has led to a surging number of vehicles on the roads. Roads in urban areas are increasingly congested during the peak hours, which is why the inclination towards introducing alternative modes of mobility is rising. By making use of kick scooters, commuters can travel to their destination without too much hassle. Furthermore, these services can significantly reduce the traffic on roads as they take up less space.    

Must Read: Shared Mobility shaping the automotive sector platform, P&S Intelligence Says

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Bike Sharing Market Growing on Account of Rising Road Congestion

With urbanization, the demand for daily commuting is also growing. People need an efficient transportation mode to travel from their homes to an intermediate point, such as a bus stop or metro station, and then from that intermediate point to work, college or any other destination. Additionally, a large number of people also travel directly between their home and destination, without using intermediary modes of transport. Hiring a cab or using other public transit services can be slightly expensive and not always reliable, in terms of efficiency, which is why the demand for micromobility services, including bike (bicycle) sharing, is rising.

From $2.7 billion in 2018, the bike sharing market is expected to grow to $5.0 billion by 2025, at a 10.2% CAGR during 2019–2025 (forecast period). Dock-less and station-based are the two types of bike sharing services available across the world, of which dock-less services were more popular in 2017–2018. This is because dock-less bikes can be picked up and dropped off anywhere, as per the convenience of riders, which makes them more popular. Even service providers prefer dock-less bikes, as these require less capital expenditure than the station-based system.

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Among the two types of bikes available for sharing purposes — pedal and electric — e-bikes are rapidly gaining popularity. The major reason behind it is that such vehicles are capable of higher speeds, compared to manually operated bikes. As the demand for higher speeds for short-distance traveling is increasing, so is the preference for e-bikes. People are ignoring the fact that sharing services on pedal-assisted bikes are cheaper than e-bikes, as the latter offer effortless driving, more convenience, and variable motor power, apart from higher speed.

Along with offering commuters cost efficiency, bike sharing also helps in tackling the problem of road congestion. With the increasing population, especially in cities, the number of vehicles on the roads is also going up. This is leading to the growing problem of urban congestion, which is prompting governments across the world to encourage the usage of bikes for first- and last-mile commute. As such vehicles take up significantly less space on roads and also require smaller parking slots, these help in controlling the traffic congestion.

Yet another factor tipping the scales in shared bikes’ favor is the convenience they offer to users. Commuters have to pay a small registration fee, followed by additional charges for every 30 minutes of travel. Additionally, bicycles are available 24 hours a day, making round-the-clock commute possible. Service providers have mobile applications, which provide important details, regarding the bikes, to users, along with instant booking facility. As there are no fixed parking spots (for dock-less services), people can keep the vehicles anywhere, after the end of their journey, which saves the time, otherwise spent in locating parking stations.

The bike sharing market growth in Europe is predicted to be the fastest across the globe, as a large number of service providers would venture into the region in the coming years. In regional countries, bikes are being rapidly made available near major transit hubs, such as railway stations, thereby offering users convenience and ease of travel. Additionally, the European Union (EU) also promotes such services, as they are environment-friendly and help reduce traffic.

Therefore, with an increasing number of people demanding cost-effective daily commuting options, the popularity of bike sharing services would continue increasing.

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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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