Medical Lasers Market Studied in Detail by Focusing on Product Type, Test Type, Application, And Competitive Landscape with Top Companies

The number of surgical procedures has been on a rise due to the growing prevalence of chronic diseases. As per the data provided by the Word Bank 30,537 surgeries were performed per 100,000 people in the U.S., in 2012.

Similarly, in 2015, the number of surgeries performed in Australia was 28,907 per 100,000 residents. Since surgical procedures are critical in nature and can be fatal if not performed with utmost care, the surgeons need to be trained properly. Attributing to this, the demand for surgical simulation products and services is increasing rapidly, as they can help prevent and reduce medical errors during surgeries.

Surgical simulation involves the utilization of mechanical or electronic surgical simulators in order to represent the test conditions which resemble practical medical situations. These simulation procedures are performed for providing procedural, technical, and operational skills to medical residents and practitioners. According to a research conducted by P&S Intelligence, the global surgical simulation market generated a revenue of $254.7 million in 2017 and is projected to grow at a 15.7% CAGR in the coming years. Surgical simulation solutions include both products and services. Out of these, the larger demand during 2013–2017 was created for products and the situation is going to be the same in the near future.   

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A key trend in the surgical simulation market is the adoption of augmented reality (AR) and virtual reality (VR) technologies in surgical simulation for enhancing the efficiency of medical trainees. The companies providing surgical simulation solutions are increasingly focusing on incorporating AR and VR technologies in their offerings in order to provide high-fidelity simulation environment to the residents. For example, in December 2017, ArthroS Ankle, a VR simulator for ankle arthroscopy, was launched by VirtaMed AG; the various features of the product include authentic haptic feedback through life-like anatomic ankle model, customizable course structure for proficiency-based learning, adapted original tools, and realistic VR graphics.

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E-Cigarette Market is Anticipated to Attain a Size of $41.7 Billion by 2024, Progressing at a CAGR of 21.6%

E-cigarettes, short for electronic cigarettes, are providing smokers a safer alternative to tobacco-based products. Because the health hazards of such devices are relatively low compared to traditional ones, the global e-cigarette market is expected to grow by leaps and bounds in the coming years.

It is being estimated that the market size in 2023 will be more than thrice of what it was in 2017. Cig-a-likes, vaporizers, and vape mods are the various types of products on offer that are primarily sold through vape shops, supermarkets, online platforms, and tobacconists.

Rising awareness about the dangers of traditional smoking is the primary factor driving the growth of e-cigarette market . Electronic cigarettes are claimed to eliminate the risk of cancer, thus resulting in an increased demand among consumers.

Another factor responsible for drawing the attention of customers to e-cigarettes is the reduced production of ash, vapor, and buds. The mist created by these disappears instantly, reducing associated side-effects, while no need is felt to dump the buds and sprinkle the ash. Since traditional cigarettes are banned in public places in many countries because of the ash and smoke they produce, the electronic alternatives are being accepted with open arms.

Talking of the 2013–2017 e-cigarette market scenario, North America led the global market in terms of revenue generation, while Asia-Pacific (APAC) witnessed the fastest growth. The CAGR of the APAC region during 2018–2023 is again expected to be the highest.

Additionally, with market players increasingly focusing on bringing new and improved products and merging with or acquiring similar or related firms, the market is expected to develop further. For instance, Japan Tobacco Inc. entered the Ethiopian market in 2017 after acquiring a stake in National Tobacco Enterprise (Ethiopia) S.C., while British American Tobacco plc launched a tobacco-heating product, glo, which, despite tasting similar to tobacco, produces a lot less toxicants, vapor and smell.

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Hence, with rising awareness about the health risks of smoking, more people wanting to quit, increasing government restrictions on traditional forms of smoking, advancements in technology, and social acceptability of electronic alternatives, e-cigarettes are expected to witness a high demand, especially in developing countries.

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Automotive Refinish Coatings Market Overview, with Recent Technologies, Applications, Growth, Insights and Status

The growth in the automotive refinish coatings market is being driven by increasing recreational vehicle sales and rising disposable income. A revenue of $8,244.3 million was generated by the market in 2017, and it is projected to grow at a 5.1% CAGR during the forecast period (2017–2023). Automotive refinish coatings are applied on the body of a vehicle to restore its aesthetics. These refurnish coatings can be applied to the vehicles in various environments in contrast to paints and coatings that are applied in automotive factories.

The automotive refinish coatings market is being driven by the increasing average age of vehicles. Vehicles that were manufactured during the 2000s had a low average lifespan. Owing to technological advancements, vehicles being manufactured in present times have an increased average lifespan. For example, the average age of vehicles in the U.K. increased to 7.8 years in 2015 from 6.8 years in 2003. The demand for refinish coatings is rising, as with the increasing average age, vehicles become prone to environmental damage in the form of corrosion.

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Another contributing factor in the automotive refinish coatings market progress is the rise in the number of vehicle collisions. An increase in the vehicle collision rate has been observed due to the increasing number of vehicles on the road, which ultimately leads to congestion. In 2015, 48,923 vehicle crashes were reported in the U.S., which was 8.8% higher than the previous year. The demand for automotive refinish coatings is increasing with the growing vehicle collision incidence, as these necessitate damage repairs and refurbishing.

The growing popularity of recreational vehicles (RV), especially in the developed countries in Europe and the North America, is adding to the growth of the automotive refinish coatings market. RVs are vehicles modified to include a living space and basic home amenities. Different vehicles, such as school buses, trailers, vans, and even trucks, are used for this purpose. The Recreation Vehicle Industry Association mentioned that the sales of these vehicles have seen an exponential increase in the past 8 years. As they are mostly customized as per the customer’s liking, the demand for automotive refinish coatings is increasing.

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The segments of the automotive refinish coatings market are vehicle age, product type, auto type, resin type, and technology. The auto type segment is subdivided into commercial vehicles, cars, two-wheelers, and others. in 2017, the cars category dominated the market in terms of revenue generation by holding a share of 70.1%. This can be attributed to the rise in accidental insurance claims. The second-largest category was commercial vehicles, owing to the increasing popularity of RVs in developed nations.

Based on technology, the automotive refinish coatings market categories are UV-cured, water-borne, and solvent-borne coatings. The solvent-borne category accounted for close to 60.0% share in terms of volume in 2017, as these are more cost-effective than other technologies. Owing to the demand for eco-friendly technologies in order to comply with low volatile organic compound emission regulations, the water-borne category is expected to be the fastest growing during the forecast period.Therefore, the market for automotive refinish coatings is slated to advance during the forecast period owing to the growing number of vehicles on the road and resulting accidents.

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Healthcare IT Integration Market by Product & Services, Application and Forecast Report 2024

The global healthcare IT integration market size is estimated to witness a considerable growth during the forecast period. The major factors that will accelerate the growth of the healthcare IT integration market are high healthcare costs, government initiatives to curb this rising cost and the growing demand to incorporate IT in the healthcare domain. However, the cost of incorporation is expensive and needs to monitored for the growth in the global market.

The healthcare IT integration market has been categorized on the basis of product and services, and application. The products in healthcare IT integration market include interface/integration engines, media integration solutions, medical device integration software, and other integration tools. Based on the services provided, the market is segmented into implementation services, support and maintenance services, and training services. In the services segment, support and maintenance services hold the largest healthcare IT Integration market share and is expected to hold its position during the forecast period 2013-2023.

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The introduction of the electronic health record (EHR) market in hospitals, clinics and other organizations, to enable patient engagement, and increase the productivity conversely decreasing the healthcare cost, provides ample growth opportunities for the healthcare integration market. Further, Asia Pacific is an emerging healthcare market that holds a huge potential to offer IT solutions to curb healthcare complexities, this encourages investors and market players to consider expansion in the region.

Asia-Pacific is expected to be the fastest growing healthcare IT integration market in the forecast period. The rise in awareness with respect to various health conditions and the consequent increase in expenditure for a better healthcare infrastructure, thereby providing quality healthcare facilities at lower cost are some of the drivers for the region’s fastest growth. Further, the regulatory bodies in this region are rather less stringent as compared to the rest of the world which will further boost the growth of the healthcare IT integration market.

Some of the key players in the global healthcare IT integration market are Quality Systems Inc., Allscripts Healthcare Solutions, Inc., Orion Health, Oracle Corporation, Qualcomm Life, Inc., IBM Corporation, Corepoint Health LLC, GE Healthcare, Siemens Health, Epic Systems Corporation, Summit Healthcare Services, Inc.

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India Electric Car Demand - The Boom in India EV Industry

The air pollution level in India is increasing rapidly: the country is among the bottom five countries in the environmental health category, ranked 178 out of 180 when air quality is taken into consideration, on the Environmental Pollution Index 2018. In 2017, the carbon dioxide emissions in India rose by 4.6%. The ultra-fine particulate matter emitted by vehicles are among the major factors responsible for this degrading quality of air. Hence, in order to decrease the air pollution, the Indian government is focusing on shifting from traditional fuel-based vehicles to electric vehicles. Moreover, the norms that are being implemented by the government are projected to result in the increased adoption of these vehicles.

As per a study conducted by P&S Intelligence, the Indian electric car market generated a revenue of $71.1 million in 2017 and is expected to reach a value of $707.4 million in 2025, advancing at a 34.5% CAGR during the forecast period (2018–2025). The three types of electric vehicles are plug-in hybrid vehicles (PHEV), battery electric vehicles (BEV), and hybrid electric vehicles (HEV). Among these, the largest demand in 2017 was created for BEVs and the situation is going to be the same in the coming years as well. The reason for this is the higher subsidies provided by the government on the purchase of these vehicles as compared to PHEVs and HEVs.

Government schemes and subsidies are significantly contributing to the growth of the Indian electric car market. Various policies related to electric vehicles have been announced by the public authorities of India in the past few years. Take for instance, the FAME scheme, which was introduced in 2015 for encouraging the adoption of clean fuel technology cars. Another target of this scheme was to reduce the upfront purchase value of electric and hybrid vehicles. Furthermore, NITI Aayog launched a scheme for building electric vehicle charging infrastructure in Gurgaon-Indira Gandhi International Airport-South Delhi-Noida corridor in 2017.  

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The primary end users of electric cars in India include government organizations, personal users, and shared mobility providers. Private and corporate car fleet owners are some other end users of electric cars. Among these, the largest demand for electric cars in predicted to be created by personal users during the forecast period because of the growing disposable income of the users and rising affordability of electric cars. The two types of lithium-ion batteries that are utilized majorly in electric cars are lithium iron phosphate (LFP) battery and lithium nickel manganese cobalt oxide (Li-NMC) battery.

With the increasing adoption of electric vehicles, manufacturers are focusing on overcoming the problem of range associated with these vehicles. While technological advancements have dealt with this problem to some extent, the range anxiety during inter-city travel still exists among people, which is why the original equipment manufacturers need to offer electric cars with enhanced range. In India, currently two companies are the leading manufacturers of electric cars; TATA Motors Limited and Mahindra & Mahindra Ltd., both of which are engaged in launching electric cars which are more efficient.  

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Microfiltration Membranes Market to Grow with Increasing Product Adoption in Food and Beverages, and Industrial Wastewater Treatment

Food and beverages is another industry driving the microfiltration membrane market growth across the globe. As health issues from contaminated food and drinks have become a major cause for concern, manufacturers are increasingly employing microfiltration to treat their products before selling them. The technology has found a significant role in beer brew, as it helps in the removal of spoilage organisms and contaminants from the brew. Traditionally, the process utilized separation and filtration, which required the disposal of effluents, thus affecting the taste. Microfiltration has helped the brewers combat this problem, with no impact on the taste. 

Microfiltration is a process in which an impure fluid is run through a fine membrane to remove microorganisms and other contaminants. There are several materials used for manufacturing the membrane, such as polyethersulfone (PES), polypropylene (PP), polyvinylidene fluoride (PVDF), and polytetrafluoroethylene (PTFE). Among these, PVDF membranes generated the highest revenue during 2013–2017, as the material is effective in separating high-molecular-weight proteins from fluids. 

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The need for a more efficient contaminated fluid purification process in the foods and beverages, pharmaceutical, and industrial wastewater treatment industries is taking the microfiltration membrane market forward. During 2018–2023, the market is expected to advance at a CAGR of 9%, reaching $4,039.3 million. Geographically, Asia-Pacific (APAC) will be the market leader during the forecast period; however, the Middle East and Africa (MEA) will witness the highest CAGR in the market. Of all the industries using this technology, industrial wastewater treatment generated the highest revenue in the said period. 

Chemical resistance and high thermal stability are the main factors behind the increasing use of these membranes for water treatment. Other advantages associated with microfiltration membranes are their spinning stability, ease in processing hollow fibers, and high permeability. Over the time, conventional techniques, such as sedimentation and sand filtration, have proved inefficient in the process, leading to a shift toward microfiltration. Municipal water departments are increasingly using microfiltration techniques to remove viruses and bacteria and make contaminated water harmless to the RO equipment. 

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Yet another factor that is expected to be instrumental in the microfiltration membrane market prosperity is the increasing application of the technology in developing nations. In APAC and MEA, the demand for clean water is on the rise, leading to higher microfiltration membrane sales. For instance, a 1,080-hp pump was installed in India in 2016 for sewage treatment. Larger water treatment capacity requires more microfiltration membranes, which, in turn, drives the market growth. 

The major restraint in the growth of the microfiltration membrane market is the high cost of membranes. These membranes are soaked in 100% methanol prior to use, and this added step in the production results in their high cost. However, major market players are coming up with more efficient membranes for microfiltration, increasing the interest of costumers in the technology. For example, in 2017, Lanxess AG introduced three wastewater and drinking water treatment products to give consumers a wider choice. 

Thus, we see that owing to the growing adoption of microfiltration membranes in the MEA and APAC regions, the microfiltration membrane market will experience healthy growth globally.

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Electric Vehicle Battery Demand Globally - An Emerging Market

The global automotive battery market is anticipated to witness a steady growth during the forecast period due to increasing end users’ preference for zero-emission hybrid and electric vehicles, owing to falling battery price, reducing crude oil reserves, and environmental effect of conventional automobiles. In accumulation to this, increase in the global battery production capacity has helped to achieve economies of scale in the automotive battery industry, which is another major driver for the growth of the market.

On the basis of type, the automotive battery market has been categorized into lithium-ion, and sealed lead acid. Among these, the market for lithium-ion batteries is anticipated to observe the fastest growth during the forecast period. Lithium-ion battery is equipped in applications, which demand high-energy density solutions such as hybrid and electric automobiles. Also, in an effort to increase vehicle economies, manufacturers are continuously focusing on reducing the price of the battery, which leads to propel the market growth, globally.

Based on vehicle, the automotive battery market has been categorized into two-wheelers, passenger vehicles, electric vehicles, and commercial vehicles. Among these, the demand for automotive batteries from electric vehicles is estimated to register an exponential growth during the forecast period, owing to increasing sales of electric vehicles and rising environmental pollution. Government initiatives to promote electric vehicles by offering generous subsidies and implementing regulations continue to drive the market for electric vehicles, which in turn, increase the demand for automotive batteries.

On the basis of region, the automotive battery market has been categorized into North America, Europe, Asia–Pacific (APAC), the Middle-East and Africa (MEA), and rest of the world (RoW). The APAC market for automotive batteries is estimated to witness the fastest growth in the coming years. This regional market is led by China, Japan, India, and Indonesia, which are forecasted to experience robust growth in the sales of commercial and passenger vehicles. Also, sales of electric cars are anticipated to experience a massive growth in APAC region in the coming years, fuelling the battery market in the region. Ongoing product developments by several companies to produce high-performance and cost-efficient vehicles are estimated to contribute to the growth of the market for automotive batteries in the APAC region.

The growth of the automotive electric vehicle battery market is primarily driven by the increasing demand for electric vehicles due to falling battery price and stringent regulations set by several government agencies across the world. Decline in prices of lithium-ion battery packs are resulting in the increase in electric vehicle sales. The average price of lithium-ion battery pack is reduced to around $220 per kWh from 1000 per kWh, a decline of more than 75%. The decrease in battery cost is resulting in the decrease in electric vehicle upfront cost, as battery accounts for around 30–40% of total electric vehicle’s cost. This is uplifting the market of the automotive battery.

Key players operating in the global automotive battery market are Panasonic Corporation, Samsung SDI Co. Ltd., Johnson Controls International PLC, Kokam Co. Ltd., BYD Company Limited, Toshiba Corporation, LG Chem Power Inc., Sanyo Electric Co. Ltd., Li-Tec Battery GmbH, Furukawa Electric Co. Ltd., Leoch International Technology Limited, GS Yuasa International Ltd., Crown Battery Manufacturing Company, Exide Industries Limited, Hitachi Ltd., Fengfan Co. Ltd., Shandong Sacred Sun Power Sources Co. Ltd., and Chaowei Power Holdings Limited.

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