How is Need for Advanced healthcare Information System Driving Internet of Things (IOT) in Healthcare Market?

The demand for advanced healthcare information systems around the world is rising. Healthcare systems are fragmented worldwide, i.e., there are various healthcare providers for treating an individual with a particular illness. This lack of coordination among healthcare patients and professionals has had a negative impact on the quality of healthcare and its cost, which has further resulted in the fragmentation of healthcare information, including medical history, billing and administrative data, and patient demographics. It is due to these factors that the need for advanced healthcare systems for compiling fragmented information into a single channel is increasing.

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Internet of things (IoT) applications aid in compiling patient information related to rehabilitation, diagnosis, care, and treatment. The heterogenous computing through wireless communication system is referred to as IoT healthcare. The technology generates trillions of data by connecting several sensors and devices with the internet through several access networks. As per a report by P&S Intelligence, the global IoT in healthcare market size generated $56.1 billion in 2017 and is projected to reach a value of $267.6 billion by 2023, advancing at a 30.2% CAGR during the forecast period (2018–2023). Major end users of IoT healthcare are research & diagnostic laboratories, hospitals, surgical centers, & clinics, and clinical research organizations.

  

The major components offered under this technology are services, medical devices, and systems & software. Out of these, the largest demand during 2013–2017 was created for medical devices. Different types of medical devices are stationary, wearable external, and implanted. Wearable external devices were used the most during 2013–2017. Systems & software are expected to witness the fastest growth in demand in the coming years. Types of systems & software provided under IoT healthcare are network security, application security, data analytics, network bandwidth management, and remote device management. Among these, the largest demand during 2013–2017 was created for remote device management.

The growing penetration of connected devices in healthcare is a key driving factor of the IoT in healthcare market. The market for connected medical devices is witnessing rapid growth due to the requirement for improving patient care, reducing treatment costs, and increasing efficiency and accountability. IoT-based medical devices can facilitate quick discharge of hospitalized patients and prevent the need for frequent hospital visits, which further decrease healthcare costs. Attributed to these factors, IoT connected devices, including oxygen tanks, insulin pumps, cardiac monitoring devices, continuous positive airway pressure machines, and defibrillators, are increasingly being adopted in remote monitoring. These devices provide patients and their caregivers important information and eliminate the need for frequently visiting healthcare facilities.

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Increasing migration towards cloud-based application driving SD-WAN market

Due to the increasing need for a simplified network architecture, network security and privacy, and cost-effective network management and migration of global enterprises from traditional wide area network (WAN) infrastructure to cloud-based solutions, the global software-defined wide area network (SD-WAN) market is expected to generate $9,691.0 million revenue by 2023, compared to $676.9 million in 2017. The market is predicted to witness rapid growth during the forecast period (2018–2023), with a CAGR of 54.1%.

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SD-WAN refers to a technology that automatically distributes the network traffic across a wide area network (WAN) and thus provides efficient connection between branch offices and data center sites separated by large distances. Unlike conventional WAN, SD-WAN offers secure and reliable cloud-enabled WAN connections. Additionally, the SD-WAN technology has the ability to provide simple, secure, and affordable cloud-based solutions to the global enterprises, which further make it highly sought-after.

The mushrooming demand for cost-effective network management is one of the major factors driving the growth of the SD-WAN market. The maintenance and management of traditional WAN is expensive, while configuring it manually is complex and time-consuming. Moreover, the recent times have witnessed a growing preference for mobile and cloud-based technologies, which is further increasing the complexity of the WAN. In order to overcome this problem, businesses are adopting SD-WAN solutions, which enable them to automate the WAN configuration and decrease the gross operational cost.

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The surging need for network security and privacy across the world is another factor driving the SD-WAN market. Owing to the increasing usage of data and the rising threats to network security, the demand for SD-WAN solutions, on account of their ability to provide data security and privacy, is surging. Additionally, the capability of SD-WAN solutions to assist in the measurement and monitoring of network traffic, which allows the IT department to quickly detect a security breach, is another factor resulting in the high demand for them.


The research offers historical market size of the global software defined wide area network (SD-WAN) market for the period 2013–2017 and market forecast for the period 2018–2023.

Market Segmentation by Offering

Solution
WAN Infrastructure
SD-WAN control and overlay

Service
CSP SD-WAN Managed Services
Cloud-Managed SD-WAN

Market Segmentation by Appliance
Virtual
Physical
Hybrid

Market Segmentation by Implementation Type
In-house
Outsourced

Market Segmentation by Industry
IT and Telecom
BFSI
Government
Healthcare
Others (Includes Defense, Retail and Manufacturing Industry)

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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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