Which Application Segment will Dominate the Biopharmaceuticals Market in Future?

Biopharmaceutical products are pharmaceuticals that are derived from life forms, and they require a patent for exclusive manufacturing rights. These items are manufactured in a cleanroom ecosystem with set standards regarding airborne particles. These drugs can be nucleic acids, including deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and antisense oligonucleotides, and proteins, including antibodies. They are generally used for in vivo diagnostic and therapeutic purposes.

Biopharmaceuticals have proven effective in treating diseases such as neurological disorders, cancer, and infectious diseases. These products are useful in the management of several neurodegenerative disorders as these ailments require direct administration of a drug into the brain, which is not achievable with traditional medications. Moreover, the ongoing technological developments have been able to enhance the survival rate of patients suffering from life-threatening diseases like hepatitis and cancer. The World Health Organization (WHO) estimates that cancer accounts for around 9.6 million deaths each year, globally. Thus, the surging incidence of chronic disorders will augment the biopharmaceuticals market revenue. 

Therefore, with the increasing prevalence of cancer and CVDs, the requirement for biopharmaceuticals will rise in the foreseeable future. Additionally, the development of innovative and effective products and a soaring number of patent approvals to such pharmaceuticals will promote their administration, globally.

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What are the Growth Projections for Dermatology Drugs Market in Emerging Countries?

The world has become a fashion show these days, with everyone vying to look their best. As a result, the aesthetics, cosmetics, and dermatology sectors are growing by leaps and bounds. Several diseases, environmental factors, age, and physical injuries can harm the appearance, by degrading the aesthetics of the skin. Thus, with their increasing appearance consciousness, coupled with their rising disposable income, people are spending more than before on themselves

As a result, P&S Intelligence says that the dermatology drugs market will likely grow to $55,425.0 million by 2030 from $25,228.2 million in 2019, at an 8.8% CAGR between 2020 and 2030. How common skin diseases are can be ascertained from the World Health Organization (WHO)’s data that claims that 900 million people are affected by such issues around the world at any time. Among these, scabies, pyoderma, eczema, acne, and warts are the most common, with acne affecting almost 80% of the U.S. population aged 12–24.

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Apart from government organizations, pharmaceutical, medical device, and medical research companies are also taking initiatives to raise awareness on dermatological diseases around the world. For instance, Camp Wonder and Galderma S.A. have been partnering since 2012 to address children’s health needs. Some of the initiatives taken by these organizations are the Wonder Run 1K Waddle and 5K Run/Walk. Similarly, Kisaco Research conducted the Microbiome Connect Skin USA virtual summit in June 2020 to promote skin microbiome-based skincare products.

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Hence, as more people become aware of skin issues and the consciousness regarding appearance spreads to other regions, the demand for dermatology drugs is bound to rise.

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Rising Size of Organic Farmlands Boosts Organic Fertilizers Market Growth

According to P&S Intelligence, the organic fertilizers market stood at $4,512.1 million in 2019 and it is expected to reach $14,746.2 million by 2030, accelerating at a CAGR of 14.1% during the forecast period (2020–2030). The market growth will depend on factors such as rising acreage and units of organically farmed areas, increasing support from governments in terms of initiatives and policies, and surging downstream demand for organic drinks and food.

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Escalating number and area of organic farmlands act as a catalyst for the organic fertilizers market growth. In recent years, there has been an exponential rise in size of organic farmlands, due the spurring downstream demand for organic products, on account of low chemical leaching during their cultivation and their health benefits. These factors eventually result in premium pricing and higher margins. Further, the increasing investments by private and public players in the organic food supply chain will lead to the high demand for organic fertilizers. 

Globally, Europe led the organic fertilizers market during the historical period (2015–2019). This is due to the fact that Europe has the largest area of organic arable land in the world and has been observing an increase in organic farming across numerous countries, including Italy, Germany, Spain, and Italy. Additionally, introduction and ratification of policies and legislations like the Common Agricultural Policy (CAP) and the EU Regulation 2018/848, high per capita spending, organized supply chain for the production-packaging-distribution model, and downstream retail demand for organic goods are fueling the regional market growth.

Thus, the expansion of organic farmland areas and the high demand for healthy food items, primarily in Europe and North America, will propel the market growth in the future.

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What are Factors Expected to Drive Progress of Automated Dispensing Machines Market in Asia-Pacific (APAC) in Future?

The surging incidence of medication errors is one of the major factors responsible for the increasing sales of automated dispensing machines across the globe. The prescription of inaccurate dosage of drugs to the patients is one of the major types of inpatient medication errors in healthcare settings and it has been found to cause adverse medication reactions and side effects in a large number of patients around the world. As per the National Center for Biotechnology Information (NCBI), nearly 7,000–9,000 deaths are caused due to medication errors in the U.S. every year.

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The increasing incidence of chronic diseases is another important factor fuelling the rise in the demand for automated dispensing machines all over the world. The soaring incidence of cardiovascular and neurological diseases and cancer is boosting the requirement of drugs and also causing a huge spike in the hospitalization rates throughout the world. For example, as per the World Health Organization (WHO), 9.6 million people died because of cancer all over the globe in 2018 and cardiovascular diseases (CVDs) recorded for 31% of all the deaths in the world in 2016.

Owing to the above-mentioned reasons, the revenue generated from the global sales of automated dispensing machines is predicted to rise from $1.4 billion to $2.3 billion from 2018 to 2024. The global automated dispensing machines market is predicted to progress at a CAGR of 7.8% during the forecast period (2019—2024). There are mainly two types of automated dispensing machines used throughout the world— centralized and decentralized systems. Between the two, the decentralized systems are predicted to register faster growth in usage during the forecast period, primarily because of the increasing hospitalization rates all over the world. 

Automated dispensing machines are extensively used in out-patient and in-patient care. Of these, the usage of automated dispensing machines is expected to increase at a faster rate for in-patient care during the forecast period. This is due to the increasing incidence of chronic diseases across the world. Automated dispensing machines are adopted in pharmacies, retail drug stores, and hospitals. Amongst these, hospitals are expected to record the highest utilization of automated dispensing machines over the coming years, on account of the surging population of patients and rising healthcare expenditure in several countries all around the world. 

Therefore, the sales of automated dispensing machines is expected to surge throughout the world in the coming years, owing to the increasing geriatric population and the rising prevalence of chronic and cardiovascular diseases all over the world.

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Why is Demand for Metal Polish Booming in India?

Due to the rising demand for better aesthetics of metallic surfaces, the requirement for metal polishing is surging sharply in India. The increasing per capita expenditure and disposable income of the people residing in the country is contributing heavily toward the changing lifestyles and customer requirements. This is pushing up the demand for materials such as metal polishes that can significantly improve the aesthetics of various products and their durability.

This is further boosting the demand for metal polishes in the country. Due to these factors, the Indian metal polish market is demonstrating rapid advancement. According to the estimates of P&S Intelligence, a market research company based in India, the value of the market will grow from $26.51 million in 2019 to $37.10 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 4.6% between 2020 and 2030.

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Metal polishes are sold via supermarkets/hypermarkets and department/convenience stores in India. Between these, the sales of metal polishes via department/convenience stores were found to be higher during the past few years and this trend is likely to continue in the coming years as well. This is mainly attributed to the growing preference of industrial workers and residential consumers for buying these materials from nearby hardware stores and general stores over buying them from hypermarkets or supermarkets. 

Automotive, marine, and residential sectors are the biggest end users of metal polishes in India. Out of these, the usage of metal polishes is predicted to rise enormously in the automotive industry in the forthcoming years. This will be because of the growing demand for metal polishes for removing corroded materials from various automotive components and parts. As these materials severely hamper a vehicle’s efficiency, their removal is extremely necessary for ensuring the smooth and efficient functioning of the automobile. 

Hence, it can be said with full certainty that the demand for metal polishes will shoot-up in India in the future years, primarily because of their growing requirement for improving the aesthetics of metallic surfaces and removing corroded materials from automotive parts and marine vehicle components.

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Replacement of Conventional Automotive Materials To Boost Polymer Market Growth

Factors such as the increasing replacement of conventional materials in the automotive sector, rising usage of smart polymers in the healthcare sector, and surging demand for polymers in the packaging and electronics sectors are expected to drive the growth of the polymer market at a 5.1% CAGR during the forecast period (2020–2030). With this growth rate, the market size will increase from $533.6 billion in 2019 to $838.5 billion by 2030.

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Moreover, the surging usage of smart polymers in the healthcare sector is another key driving factor that boosts the polymer market. There has been a considerable increase in the use of smart polymers in the healthcare sector to manufacture biosensors, hydrogels for targeted drug delivery, and artificial body parts. The behavior of polymers like chitosan, poly(hydroxyproline), and polysilamine toward a stimulus is non-linear in nature, and these are flexible, strong, and biocompatible. Owing to these properties, the requirement for these polymers is projected to rise during the forecasted period.

Presently, Asia-Pacific is the most-productive polymer market, and it is also set to grow the fastest in the years to come. The expansion of the construction, automotive, agriculture, packaging, textile, and electronics & electrical industries is propelling the consumption of numerous polymeric materials in the region. Among the most-significant applications of polymers in APAC are the production of battery parts, flexible bottles, bearings, film wrapping, cams, gears, handles, bushings, wire and cable jacketing, anti-corrosion seals, and safety helmets.

Thus, the rising use of smart polymers in the healthcare sector and the increasing replacement of conventional materials in the automotive sector are expected to propel the demand for polymers during the forecast period.

Key Findings of Global Polymer Market Report

• COVID-19 blow on market cushioned by growing polymer demand in food processing, packaging, pharmaceutical, and personal care sectors

• Thermoplastics remain industrialists’ choice of polymer

• Polymer demand rising fastest in packaging industry

• APAC to remain largest and fastest-growing consumer of polymers

• Biopolymers key opportunity area for industry players

• Polymer providers engaging in mergers and acquisitions to consolidate competition

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Floating Solar Panels: The Future of Solar Power Generation

The surging global population and the lack of availability of land for solar power plants are the two major factors responsible for the burgeoning requirement for floating solar panels across the world. Furthermore, the adoption of various technologies like ground-based solar power plants that require large areas of land for generating a huge amount of power is causing a drastic reduction in the availability of land. This is propelling the deployment of floating solar panels in many countries.

The value of the market is predicted to grow from $685.2 million in 2019 to $2,301.8 million by 2026. Depending on type, the floating solar panels market is divided into solar tracking and stationary panels. Between the two, the stationary category will demonstrate higher growth in the market in the forthcoming years. This will be because of the lower operational costs of these panels and the very low probability of these panels getting damaged because of current waves.

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One of the major trends currently being witnessed in the floating solar panels market is the huge investments being made by manufacturing firms for making the technology highly efficient. Additionally, several governments around the world are making huge investments in this technology, on account of the fact that floating solar panels do not require any land for operation and are therefore, more affordable than the conventionally used ground-based solar panels.  

Hence, it is quite clear that the demand for floating solar panels will skyrocket all over the world in the coming years, mainly because of the lack of availability of large land areas for power generation and the implementation of favorable government regulations regarding the usage of renewable energy in many countries.

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