Asia-Pacific Osteoporosis Drugs Market To Prosper in Coming Years

The osteoporosis drugs market is observing the trend of increasing awareness about the disease and its possible management and treatment methods. With the rising incidence of osteoporosis, many organizations are focusing on creating awareness among the masses regarding it via various campaigns and programs. For instance, the International Osteoporosis Foundation has tasked itself with making people aware about the disease as well as bone health. For the same purpose, Nestlé partnered with the foundation to spread awareness about the preventive measures for osteoporosis.

The major factor contributing to the growth of the osteoporosis drugs market is rapid urbanization, leading to drastic changes in the environment and people’s lifestyle. As per the World Health Organization figures, currently over 50.0% of the world’s population resides in urban areas, which is expected to grow to 70.0% by 2050. Urbanization at such a large scale has left a negative impact on the environment, as a result, affecting people’s health. Unhealthy habits, such as inadequate physical activity, smoking, tobacco and alcohol consumption, and low calcium diet, also affect the bone health.

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The osteoporosis drugs market is witnessing growth due to another major factor, i.e. the rising osteoporosis prevalence in post-menopausal women. In women, bone growth is influenced by estrogen, a key hormone in their body. The rapid decline of estrogen in post-menopausal women causes increased bone resorption without an increase in bone formation, which eventually results in decreased bone strength and bone loss. The International Osteoporosis Foundation reported that post-menopausal women are susceptible to fragility fractures, and one in three such women may suffer from fracture once in their lifetime.

Hence, with more people falling prey to this degenerative disease, the market for osteoporosis drugs would continue to flourish.

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Growing Electric Vehicle Production Boosting Demand for Automotive Batteries

With the growing number of people on earth, automotive production and sales continue to surge. Due to this, among their various components, the demand for batteries is booming too. Every vehicle, whether it runs on electricity or diesel or petrol (gasoline), requires a battery. Thus, the automotive battery market will have a rather prosperous future, says market research firm P&S Intelligence. Presently, since electric vehicles (EVs) are all the rage, the integration rate of batteries in them will shoot up.

Automotive Battery Market Report 2021

Compared to an internal combustion engine (ICE)-based vehicle, an EV requires a much-larger and -powerful battery because this component is its main power plant (in case of battery electric vehicles [BEVs]). Moreover, apart from powering the motor, the battery supplies electricity to all the auxiliary components and systems, including lights, heating, ventilation, and air conditioning (HVAC) systems, advanced driver assistance systems (ADAS), navigation and entertainment units, and digital dashboards.

Automotive batteries are generally available in two broad chemistries: lithium-ion (Li-ion) and sealed lead–acid (SLA). Of these, SLA batteries have been more popular till now because they have been available for ages and are cheap. But, their energy density isn’t as high, which becomes a problem for EVs, while their disposal also has environmental issues. Thus, with the growing demand for sustainable mobility, Li-ion batteries have begun gaining preference. 

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With such advancements taking place in the electric mobility ecosystem, Asia-Pacific (APAC) has been the largest automotive battery market till now, and the situation will remain unchanged in the coming years. Driven by strong environmental concerns, strict emissions regulations, and supportive regulations, China has been the world’s largest EV and automotive battery manufacturer for ages, and it is also the one that buys them in the largest numbers. Similarly, India is home to the largest electric rickshaw fleet, which again creates a high demand for SLA and Li-ion batteries.

Hence, with the booming EV sales, the demand for automotive batteries will keep rising.

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Why Are Companies Adopting Software-Defined Approach for Their WAN?

Every modern office today has a local area network (LAN), which connects all the computers in the office space together, thus making data sharing possible. When more than two LANs are connected, as is often the case with companies that have more than one office, the setup is known as a wide area network (WAN). Though WANs are essential for multi-location organizations, the increasing internet traffic has made their traditional architecture expensive to maintain.

This is because any kind of traffic has to be first identified, inspected, and secured (known as backhauling), which, in traditional WANs, is done via multiprotocol label switching (MPLS). In such a setup, numerous routers and endpoints need to be interconnected, which makes the overall IT setup expensive and complicated. Thus, the rising need for reduced IT expenditure is set to propel the software-defined WAN (SD-WAN) market value from $1.4 billion in 2019 to $43.0 billion by 2030, at a robust 38.6% CAGR between 2020 and 2030, says P&S Intelligence.

 

This is because an SD-WAN connects all the endpoints and routers across a WAN at one central point and automatically identifies, measures, and inspects the traffic and distributes it over a company’s server. Moreover, this architecture reduces the backhauling delay and latency associated with traditional WAN. In addition, the software-defined architecture can be deployed over conventional broadband and 4G LTE connections, which are cheaper to obtain and operate than MPLSs.

Further, with the emergence of cloud-based SD-WAN, the cost of such solutions has come down even more. And, with cloud-based software-defined networking (SDN), the software-as-a-service (SaaS) and infrastructure-as-a-service (IaaS) platforms also receive support. Thus, with organizations around the world rapidly shifting to the cloud for reduced IT costs, scalability, and 24/7 access, cloud-based SD-WAN is set to gain widespread popularity in the coming years.

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Increasing Consumer Awareness Fueling Organic Personal Care Products Sales

Organic personal care products are primarily derived from natural sources, such as flowers, herbs, leaves, plant roots, essential oils, and barks. The natural components are combined with naturally occurring preservatives, emulsifiers, carrier agents, humectants, and surfactants. These natural ingredients induce anti-oxidation property and offer skin immunity to personal care products, such as skincare, oral care, and hair care products and color cosmetics. Among the various types of products, customers mostly opt for organic skincare products, due to the rising concerns regarding skincare and anti-aging. 

In recent years, the increasing awareness among customers regarding advantages of organic personal care products over synthetic products has supported the progress of the organic personal care products market. Additionally, the surging population of working-class women in emerging economies, such as India, China, and Brazil, will also fuel the consumption of such products in the coming years. According to the World Bank, in 2019, around 22.26% of the female population in India, within the age group of 15–64 years, were a part of the workforce of the country.

According to P&S Intelligence, the APAC organic personal care products market will advance at the highest rate in the foreseeable future. This will be due to the soaring popularity of and concerns regarding hair and skincare products in India and China, and increasing disposable income of the people. Among APAC nations, Japan consumes organic personal care products at a considerable rate, due to the aging population that requires cosmetics in large quantities. 

Thus, the surging customer awareness about organic products and the booming women workforce will augment the usage of organic personal care products in the coming years.  

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Increasing Importance of Catheters and Bands for Heart Patients

Catheters are thin tubes that are used in diagnostic procedures and surgical interventions. These tubes are also used to analyze and treat impaired target sites by eliminating the damaged tissues or unblocking the blocked blood vessels. Whereas, bands aid in maintaining homeostasis to impede radial artery occlusion. Bands are applied to post-procedure sites to supply direct pressure and are taken off before patients are discharged from healthcare units. Both these medical products are used in transradial and transfemoral procedures. 

These products are being used in large quantities in countries like India, Nepal, Bangladesh, and Sri Lanka, on account of growing geriatric population and improving healthcare infrastructure. For example, the United Nations Department of Economic and Social Affairs (UNDESA) estimates that the population of people aged 60 years or above in India will reach 324 million by 2050. The surging population will accelerate the 

At present, the leading players like Terumo Corporation, Smiths Group plc, Merit Medical Systems Inc., Global Surgimed Industries, Becton, Dickinson and Company, Boston Scientific Corporation, Cardinal Health Inc., Teleflex Incorporated, Sahajanand Medical Technologies Private Limited, and Relisys Medical Devices Limited are offering different types of bands and catheters in India, Sri Lanka, Nepal, and Bangladesh. These companies are focusing on product launches and geographical expansion to increase their customer base in these countries.

According to P&S Intelligence, India led the catheters and bands market in 2018, and it is also expected to retain its dominance in the coming years. This can be attributed to the escalating geriatric population, improving healthcare system, and rising prevalence of cardiac disorders. Moreover, the presence of established market players has escalated the adoption of catheters and bands in the country. In the coming years, south region in India is expected to consume significant quantity of these medical products, due to the highest cases of cardiovascular diseases (CVDs) in this region. 

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Solar-Powered Vehicles: The New Electric Mobility Trend

The 21st century is definitely the time of electric mobility, with countries around the world taking numerous initiatives to embrace it. Globally, purchase subsidies are being offered, taxes are being reduced, and even dedicated parking lanes are being offered to encourage people to go for electric vehicles (EVs). Now, while these efforts are bearing fruit, they are also creating a problem. In a world already starved of energy, the growing number of EVs is only going to make this problem worse, by further driving the demand for electricity.

This creates another problem; still, the majority of the electricity, especially in developing countries, is produced from fossil fuels. In its latest report, the International Energy Agency (IEA) says, “The share of renewables in electricity generation is projected to increase to almost 30% in 2021.”, meaning that 70% of the energy will still be produced from natural gas, coal, and oil. As per P&S Intelligence, these apparent disadvantages of the growing EV stock around the world would be the key drivers for the solar powered vehicles market in the years to come.

This is because by integrating solar panels into the vehicles themselves, the need for procuring electricity from a secondary source is eliminated. Already, the photovoltaic (PV) technology has been the preferred way to generate renewable energy, with the IEA saying, “Renewables are set to provide more than half of the increase in global electricity supply in 2021.” This is because of the cost-efficiency and good understanding of the PV technology, which is why it is being extensively experimented upon for running automobiles.

Thus, one of the key prerequisites for the growth of the solar powered vehicles market would be a sharp drop in the price of PV panels. Thanks to the pandemic-induced lockdowns, production surge in China, and emergence of efficient monocrystalline PV panels in 2019, their prices have witnessed a sharp decline. As per an article published on Forbes in September 2020, the price of solar panels fell from $0.63 per Watt in the first quarter of 2016 to $0.21 per Watt by the first quarter of 2020.

Thus, combined with the continuous research and development (R&D), the declining price of this technology could spell a fortune for solar-powered vehicles.

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Corrugated Packaging Materials Preventing Environmental Degradation

Corrugated packaging materials are being used in large quantities in the electrical and electronics industry, owing to the increasing consumption of consumer electronics that demands packaging in lightweight micro- and fine-flute corrugated configurations. Besides, the expansion of the e-commerce sector will also amplify the sales of such materials, as it has become the most convenient and affordable option for purchasing electronic devices. With the rising demand for consumer electronic goods, the consumption of these packaging materials will escalate in the coming years.

Additionally, the increasing applications of these materials in the processed food industry will accelerate the corrugated packaging market at a CAGR of 3.7% during forecast period. According to P&S Intelligence, the market value will rise from $237.5 billion in 2017 to $294.3 billion by 2023. Packaging of processed food items require flexible and secure packaging solutions to ensure convenience and product safety to consumers. Manufacturers across the world are developing innovative paperboard packaging solutions to meet the surging demand for lightweight and easy-to-use packaging materials for the processed food sector.

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The electrical and electronics and processed food industries are increasing their reliance on corrugated packaging, as it is made up of natural materials and is one of the most cost-effective packaging solutions for these sectors. Since these materials are developed from natural ingredients, they have the highest recycling rate in comparison to the other packaging materials. In recent years, regulatory and government bodies have raised numerous concerns regarding sustainability and environment. Owing to these reasons, end-use industries are switching to environment-friendly packaging materials for packaging their products.

Geographically, the Asia-Pacific region dominated the corrugated packaging market in the past, due to the escalating influence of the west and increasing shift toward retail ready-to-eat food. The hectic lifestyle of people and rapid urbanization in the region have fueled the adoption of durable and non-durable goods. In recent years, India and China have observed significant rise in the consumption of processed foods, therefore, creating high demand for these materials. Moreover, largescale export of automotive parts and consumer electronics from China and Japan have boosted the usage of the materials in APAC.

Thus, the growth of the processed food, electrical and electronics, and e-commerce sectors will lead to the largescale consumption of corrugated packaging materials, globally.

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