How are Increasing Research Activities Driving Protein A Resin Market?

The research activities, particularly protein research, in several therapeutic areas are rising in order to address the unmet medical requirements. Before, the development of proteins and monoclonal antibodies as therapeutic agents was avoided by pharmaceutical companies because of their low stability, size, rate of degradation, and poor delivery. However, now monoclonal antibodies and proteins are being developed for catering to the unmet needs in different therapeutic areas, such as oncology, infectious diseases, metabolic diseases, and cardiovascular diseases. This has resulted in increased attention on making use of proteins which mimic the function of mediators involved in different pathologic processes. Attributed to this, the demand for protein A resin is rising.

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Protein A resin is an affinity chromatography resin which is utilized as a separation medium during purification techniques of immunoprecipitation and chromatography. As per a P&S Intelligence report in 2019, the global protein A resin market size reached a value of $486.4 million and is expected to generate a revenue of $1,020.7 million by 2030, advancing at a 7.0% CAGR during the forecast period (2019–2030). Two end users of protein A resin are academic institutes & research laboratories and biotechnology & pharmaceutical industries. Out of these, biotechnology & pharmaceutical industries are projected to make the most use of protein A resin during the forecast period.

The two major applications of protein A resin are immunoprecipitation and antibody purification. Between these two, the larger demand for protein A resin was created for the antibody purification application during 2014–2019, and the resin is further predicted to be the more in demand for this application during the forecast period. This is because of the high production and rising demand for antibodies primarily monoclonal antibody for therapeutic application. Geographically, North America is expected to create the largest demand for protein A resin during the forecast period, owing to the presence of large-scale manufacturers of drugs.

A major driving factor of the protein A resin market is the growing burden of chronic diseases. For example, as per the International Agency for Research on Cancer, a specialized cancer agency of the World Health Organization, 12.7 million new patients were diagnosed with cancer in 2008 and the number is predicted to reach 21.4 million by 2030. Monoclonal antibodies hold multiple properties as therapeutics, including suitable pharmacokinetic profiles, low toxicity and immunogenicity, and customizable solubility features. Due to this, pharmaceutical and biotechnology companies are focusing on developing novel therapeutics for the treatment of these diseases.

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How is growing Prevalence of Chronic Diseases Driving Next-Generation Antibody Therapeutics Market?

The prevalence of chronic diseases is rising rapidly, which is attributed to factors such as poor diet, unhealthy lifestyle, and excessive consumption of alcohol and tobacco. Cancer is among the leading causes of mortality around the world. As per the World Health Organization (WHO), in 2012, about 14 million new cases were registered, and 8.2 million people died due to cancer across the globe. In addition to this, according to the WHO, 63% of the deaths globally were caused by non-communicable diseases in 2008. Since, next-generation antibody therapeutics offer better treatment options for chronic diseases with minimum side effects, their demand is growing.

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Antibody therapeutics which have improved efficacy, enhanced delivery, and are safer are referred to as next-generation antibody therapeutics. The next-generation antibody therapeutics market is projected to witness considerable growth in the coming years. Autoimmune/inflammatory and oncology are the two major therapeutic areas for which next-generation antibody therapeutics are utilized. Between these two, the larger demand for next-generation antibody therapeutics was created for oncology in the past. This is attributed to the fact that this treatment option provides benefits throughout the treatment of several cancer types, namely lung cancer, brain cancer, prostate cancer, colorectal cancer, and breast cancer. 

Technological innovations in antibody therapeutics is a major factor resulting in the growing demand for next-generation antibody therapeutics. The utilization of advanced technologies, including bispecific antibodies technology, ADC technology, and glycoengineered antibody technology, in antibody therapeutics has led to the development of antibody therapeutics with enhanced characteristics. For example, bispecific antibodies are composed of two antibodies which target two different antigens. These antibodies are engineered to bind with tumor cells and cytotoxic for the treatment of cancer. Such advancements have aided in overcoming the limitations associated with monoclonal antibody therapeutics.

Out of all the regions, namely Asia-Pacific, North America, Europe, and Rest of the World, North America accounted for the major share of the next-generation antibody therapeutics market in the past and is further projected to contribute the largest revenue share to the market in the coming years as well. The reason for this is the increasing research & development (R&D) activities and technological advancements in antibody therapeutics in the region. Apart from this, the surging prevalence of chronic diseases and growing healthcare expenditure are also resulting in the rising demand for next-generation antibody therapeutics in the region.

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IoT Chip Market Driven by the Growth in Smartphone Usage Globally

In 2015, Government of India announced plans to develop 100 smart cities, in order to better manage the resources and provide people with a higher quality of life. Such cities use several devices, connected via the internet of things (IoT) technology, to share real-time data with each other as well as the monitoring agency.

Information related to the traffic, amount of natural light, carbon emissions, temperature, humidity, water and electricity consumption, and various other subjects is regularly shared by such devices over the internet.

Among these, the demand for connectivity ICs was the highest in the IoT chip market in the past, as these make the connection among all the components possible. In the coming years, the usage of memory devices would rise the fastest, as the operation of connected devices generates huge volumes of data, which needs efficient storage.

IoT devices, and in turn, the chips embedded in them, find application in the automotive and transportation, banking, financial services, and insurance (BFSI),industrial, healthcare, retail, wearable devices, agriculture, consumer electronics, oil and gas, and building automation sectors.

Among these, the automotive andtransportation industry accounted for their widest adoption, owing to the strong focus on the development of smart transportation infrastructure and popularity of connected cars.

In the coming years, the retail domain would most rapidly adopt the technology, to drive revenues and augment the level of customer satisfaction, by decreasing the checkout time, making the payment procedure easier, and letting customers compare the cost of products sold by different companies.

Therefore, with the rapid development of smart infrastructure, the demand for IoT chips is also increasing, as IoT is not possible without a chip, which is responsible for the functioning of such devices. Chip hardware includes several components, such as sensors, processors, connectivity integrated circuits (IC), memory devices, and logic devices, which are generally a field-programmable gate array (FPGA).

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IoT is primarily utilized to maintain the inventory and manage mobile payments, which are increasing in preference, with the growth in internet connectivity and rise in the adoption of smartphones. Due to the improvements in IoT devices, the retail sector is predicted to use them even more in the coming years.

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Service Integration and Management Market Regional Revenue, Trends, Opportunities and Future Prospects

SIAM offers cost efficiency and value enhancement, which is also a major driving factor of the SIAM market. Service integration of any business process flow results in an added expenditure for the enterprise. However, the adoption of SIAM models leads to the optimization of cost and increased service value for the company. 

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In 2017, the global service integration and management (SIAM) market reached a value of $2,995.3 million and is projected to advance at a 9.4% CAGR during the forecast period (2018–2023). Service quality enhancement leading to process efficiency and cost efficiency and value enhancement are the major factors resulting in the growth of the market. The governance, management, and coordination of services, such as IT and business, which are provided by multiple suppliers and integration of these services for providing solo business-facing service model is referred to as SIAM. 

In addition to this, the cost of service management for any organization gets reduced due to the adoption of SIAM model as it offers innovative technologies, proper use of skilled and scarce resources, competition between different service providers, and reduction in process execution costs. A key trend being witnessed in the SIAM market is the rising adoption of governance, risk, and compliance (GRC) management solutions. 

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The rising adoption of these solutions is because of the growing need for enhanced governance and control among different players operating in the domain. The various benefits offered by GRC management solutions include steady assurance of services and service providers and visible definition and application of a governance framework. It further defines the responsibilities, services, and roles within an organization, which is why its demand is increasing.

Hence, the market is being driven by cost efficiency, value enhancement, and service quality enhancement which are offered by the SIAM model.

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How the Commercial Refrigeration Equipment Market in Latin America is Growing?

The reason for growth of the commercial refrigeration equipment market in Latin America is the demand for ready-to-eat food products by consumers and quick-serve restaurants. Due to the fast-paced life and changing lifestyle, people tend to buy more ready-to-eat products, beverages, and frozen food, as these are easy to cook in short time.

Increased demand for ready-to-eat food along with a rise in disposable income has opened many doors for new restaurateurs, and retailers of food products. 

The changing lifestyle is expected to provide opportunities to the market players (refrigeration equipment manufacturers) in countries, such as Brazil, Mexico, and Chile because of increased urbanization and rising per capita income. 

Another opportunity-providing factor is the participation of women in work force. As women move out of their homes, they will not always have time to cook, leading to a rise in the demand for ready-to-eat food. 

As the intensity of competition among the market players is moderate, the growth of existing and new players is expected to be smooth. Many players are actively cashing in by launching innovative products in the market to meet the growing demand. In 2017, there were six companies holding more than 60% of the total revenue share in the market. 

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As the Latin American commercial refrigeration equipment market advances, these market players will get more opportunities for growth.

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Growing Infrastructure Sector Driving the Growth of Saudi Arabian Heating, Ventilation, and Air Conditioning Market

 

The Saudi Arabian heating, ventilation, and air conditioning (HVAC) market is growing on account of the rising infrastructure spending and expanding hospitality sector in the country. 

Along with the infrastructure, the hospitality sector of the nation is also booming, owing to the increasing number of travelers coming here from across the world. The two holiest sites in Islam — Makkah and Medina — are located in Saudi Arabia, which draw loads of people. 

To cater to the increasing tourists and pilgrims, the number of hotels and guestrooms in the nation is also surging, thereby driving the HVAC market in Saudi Arabia. Several multinational hospitality firms are expanding their reach here to provide accommodation to as many people as possible.

Seeing the focus of consumers toward reducing their electricity spending, major Saudi Arabian HVAC market players are launching systems that are more energy-efficient than before or modifying the technology of their existing products.

For instance, Daikin Industries Ltd. unveiled a new air-cooled scroll chiller product line with the R-32 refrigerant in January 2019. Compared to its existing scroll chillers that work on refrigerant R-401A, these have a 10.0% higher seasonal energy efficiency ratio.

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Wearable AI Devices Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast

The demand for AI-enabled voice assistance is gaining popularity, with voice assistance feature being integrated in them to support multiple functions. Such technology allows users to search through the web on the device with a voice command, related to the weather, news, reminders, scheduling appointments, making calls, reading messages, and much more. 

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The wearable AI devices market was valued at $11,182.8 million in 2018, and it is projected to reach $49,240.6 million by 2024, witnessing a CAGR of 29.0% during 2019–2024 (forecast period). The market growth across the globe is primarily driven by the changing lifestyle of people, surging use of fitness bands and healthcare applications, and demand for next-generation smartwatches. Such devices are used by consumers to track their fitness level, via inputs in the form of heat, light, sound, and pressure.

The wearable AI devices market is a promising opportunity for the players to integrate the AI-enabled voice assistant technology in wearable devices. Thus, the market is expected to advance due to the rapid demand for voice assistants in consumer electronics. North America held the largest share in the wearable AI devices market in 2018. 

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It was mainly due to the strong presence of already established market players, such as Facebook Inc. and Apple Inc., in the region. The fastest market growth is to be witnessed in Asia-Pacific (APAC) during the forecast period, driven by the growing demand for AI-integrated wearables, particularly in India and China, which is itself mostly owing to the increasing concerns for health and fitness. 

Thus, it is clear that the market will continue to grow substantially during the forecast period, as the demand for advanced consumer electronics, which performs multiple functions, rises.

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