Huge Growth Expected in Medical Device Outsourcing Market in Future

The healthcare industry is witnessing rapid growth because of the surging prevalence of diseases all across the world. The medical industry does not only deal with drugs and therapy, but medical devices are an important part of it. Attributed to this, the medical devices industry is registering swift growth as well. In 2018, the global medical devices market attained a value of $425.5 billion and is predicted to reach $612.7 billion by 2025, registering a 5.4% CAGR during 2018–2025. Medical devices are used widely across different medical settings for both therapeutic and diagnostic purposes. 

However, the cost of most of the medical devices is quite high, which makes it difficult for hospitals at times to provide important services to the patients. Because of this reason, medical settings are increasingly outsourcing medical devices. The concept of outsourcing is not a new one, and now the medical device industry is taking advantages of its benefits as well. With the continuous technological advancements going on in the medical industry, medical settings need to keep up with making sure that their patients are being offered the best and latest technology. According to P&S Intelligence, in 2016, the global medical device outsourcing market generated a revenue of $44.9 billion and is expected to attain $84.9 billion, witnessing a 9.7% CAGR during 2017–2023.

Geographically, the largest demand for medical device outsourcing was created by North America in the past, owing to the presence of a large number of medical device manufacturers and easy availability of high-end medical devices in the region. Apart from this, because of the rising availability of low-cost labor and comparatively cheap infrastructure than other developed nations, the demand for medical device outsourcing is expected to increase significantly in the Asia-Pacific region in the coming years. 

In conclusion, the need for medical devices outsourcing is growing due to the rising cost of medical devices.   

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Needle-Free Injection Systems an Insight On the Important Factors and Trends Influencing the Market

The surging awareness on the safety issues with needles, growing aging population, and massive demand for needle-free treatment devices are driving the growth of the needle-free diabetes management market. In 2016, the market attained a size of $3,830.6 million, and it is predicted to generate revenue of more than $16,800.0 million by 2025. Needle-free diabetes management is a technique of monitoring, diagnosing, and treating a diabetic patient without the use of needles. Such devices are adopted for monitoring the blood glucose level and injecting insulin into diabetic patients. 

On the basis of region, the needle-free diabetes management market is classified into Asia-Pacific, Europe, North America, and Rest of the World. Among these, during 2014–2016 (historical period), North America led the market in terms of revenue, and it is projected to continue leading it during 2017–2025, owing to the high prevalence of diabetes, technological advancements, and positive government regulations. In North America, due to the surging geriatric population and prevalence of obesity, diabetes has become one of the major public health issues.

Furthermore, needle stick injuries during insulin administration can lead to blood-borne pathogen transmission, which can further cause fear, anxiety, and emotional distress in patients and healthcare workers. With the use of needle-free diabetes management, the risk of needle stick injuries can be eliminated. According to the World Health Organization, each year contaminated injections cause around 1.3 million early deaths. As needle-free diabetes management helps in reducing the number of deaths, it is highly preferred by patients as well as healthcare providers, thereby leading to the needle-free diabetes management market growth.

Hence, the surging aging population and safety associated with needle-free diabetes management are projected to contribute to the progress of the market during the forecast period.

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MVNO Market To Generate $139,663.0 Million Revenue in 2031

 The rising penetration of mobile devices, burgeoning demand for low-cost mobile services, mounting need for high-speed internet connectivity, and soaring demand for improved video, voice, and mobile internet will propel the mobile virtual network operator (MVNO) market at a CAGR of 7.1% during the forecast period (2021–2031). The market was valued at $66,582.0 million in 2020 and it is expected to reach $139,663.0 million revenue by 2031.

Additionally, the rapid growth of triple-play services in developing nations also contributes to the market growth, worldwide. One of the major growth drivers of the market is the increasing focus of MVNOs on segment-targeted pricing and innovative distribution strategies. As these operators cater to a wide range of customers, their success is largely determined by value proposition for their target customers, such as migrant workers, tourists, and certain ethnic groups and unique brand positioning.

MNVOs identify potential customers with efficient pricing strategies to expand their customer base and augment their revenue. Moreover, the rapid growth of triple-play services will also supplement the MNVO market growth in the forecast period. These services are a combination of television, broadband internet access, and latency-sensitive telephone services. At present, this concept is successful in North American countries.

Telecom operators in the U.S. are providing triple-play services to offer better value to their customers and increase their customer retention rate. It is being forecasted that in the next few years, these services would be delivered throughout the world through the internet. Thus, the extensive emphasis on offering segment-targeted pricing and advanced distribution strategies and swift development of triple-play services will strengthen the market in the foreseeable future.

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What Are Control Valves and Why Do Factories Need Them?

Almost every factory has an extensive network of pipes, hoses, vats, silos, storage tanks, liquid inlets and outlets, pumps, and nozzles for some or the other purpose. From food and beverage and chemical, which would seem two of the obvious sectors when thinking of such infrastructure, to automotive and power generation, every industry needs these components and systems. As a result, the demand for control valves, to regulate the amount of liquid flowing through a system or subsystem, has always been high. Control valves are also widely, and, perhaps, more familiarly, found in non-industrial settings; the water tap seen in houses and gardens being the simplest example.

Thus, considering the burgeoning population and industrial output, P&S Intelligence expects the control valves market revenue to increase from $11,137.0 million in 2017 to $16,057.5 million by 2023, at a 6.3% CAGR during the forecast period. What most people don’t know is the technicalities of such seemingly simple devices, such as their various types, which include ball, cryogenic, butterfly, globe, plug, diaphragm, and gate. These terms denote the actual technology, or the actual component, that the valves use to control the flow.

During the historical period (2013–2017), the control valves market was dominated by Asia-Pacific (APAC) owing to the region’s high manufacturing output. The region accounts for the highest automotive, consumer electronics, chemicals, and food and beverage production in the world, which leads to a high integration rate of various types of control valves. For instance, in the automotive sector, they are used for painting, tire inflation, high-pressure water jet cutting, and oxy–acetylene welding and even in the vehicles themselves, such as in fuel, engine oil, and coolant pumps and supply lines.

Similarly, APAC also requires a lot of electricity, which is why it is home to a huge number of power plants, which are another important application area of control valves. For instance, such components are absolutely vital at hydroelectricity plants, as the pressure of the water needs to be substantially high to be able to turn the turbine. Similarly, even in thermal power plants, valves are used to let water in and out; here, the turbines are spun by high-pressure steam.

Hence, with the growing population and industrial production, the demand for control valves will keep booming.

 Source: https://www.psmarketresearch.com/market-analysis/control-valves-market

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Demand for Artificial Turf Booming Globally

Artificial turf refers to the surface of synthetic fibers that are made to look like natural grass. In recent years, such surfaces have been replacing natural grass, due to their various advantages, such as high durability, less wear and tear, and low maintenance requirements. Besides, the usage of artificial turf also helps in reducing the consumption of water and other hazardous fertilizers and pesticides. Owing to the benefits associated with these surfaces, their usage has significantly surged in commercial facilities and residential lawns, apart from the sports arenas.

The artificial turf market has been witnessing a substantial surge due to the expansion of the construction industry. These surfaces are rapidly replacing natural grass in stadiums, sports fields, residential houses, and commercial gardens. For instance, the construction of eight new stadiums in Qatar, on account of the upcoming 2022 FIFA World Cup, will require a high amount of artificial turf. As these artificial surfaces do not require water, they are viable for use in water-scarce regions such as the Middle East.

Artificial Turf Market

With the upcoming sports events such as FIFA 2022 and 2020 Summer Olympics and expanding construction industry, on account of rapid urbanization, companies such as CCGrass, SIS Pitches, ForestGrass, TenCate Grass, Limonta Sport S.p.A., and Victoria PLC are producing artificial turf in huge quantity. Moreover, the rapid infrastructure development in emerging economies such as India and China  like the building of smart cities, will augment the sales of artificial grass in the foreseeable future. Additionally, the increasing focus of oil-based economies, such as Saudi Arabia and Qatar, on the tourism and hospitality sectors will amplify the usage of artificial turf for landscaping purposes.

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According to P&S Intelligence, Europe generates a notable demand in the artificial turf market, due to the fast-paced replacement of grass surfaced sports arenas with artificial turf, owing to its environment-friendly characteristics and superior quality. As the region is extensively involved in golf, tennis, hockey, and football, Europe adopts a large volume of artificial turf. As Europe is home to large stadiums such as Camp Nou, Wembley, Croke Park, Twickenham, and Westfalenstadion, it requires artificial grass in high quantity.

Thus, the upcoming sports events and increasing construction activities will augment the need for artificial turf in the coming years.

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Increasing Demand for Low-Latency Internet Driving 5G Infrastructure Market Growth

The global 5G infrastructure market revenue stood at $1.5 billion in 2020, and it is predicted to increase significantly during 2021–2030 (forecast period). The market is being driven by the growing adoption of technologies that require fast internet connection, such as artificial intelligence (AI), burgeoning requirement for low-latency internet, increasing adoption of virtual networking architecture in the telecommunications sector, and surging number of mobile data users across the world.

Furthermore, the adoption of machine-to-machine (M2M) connections in several industries is driving the installation of 5G network across the world. Additionally, the growing adoption of internet of things (IoT) applications, on account of the mushrooming popularity of augmented and virtual reality and remote and AI-controlled systems, is also fueling the growth of the 5G infrastructure market.

IoT involves the sharing of data between several machine parts over a wireless network. The data is basically collected from sensors or an input source and then used for sending the output. 5G network assists in this process and improves the reliability of the IoT devices by transmitting the data with reduced latency. Apart from the above-mentioned factor, the ballooning adoption of 5G-enabled devices is also fueling the expansion of the 5G infrastructure market.

5G network has been developed for matching the surge in data storage and catering to the robust connectivity requirements. Moreover, with the growing sales of 5G subscriptions, on account of the increasing use of 5G-enabled devices and several other devices, the demand for 5G infrastructure is rising sharply around the world.

According to the Mobile Economy 2020 published by the Global System for Mobile Communications Association (GSMA), 5G will account for 20% of all connections across the world by 2025. Furthermore, the report estimates that 5G deployment will rise rapidly in Europe, North America, and Asia in the coming years.

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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Pulse Oximter Market to Generate $3,177.7 Million Revenue by 2024

Every year, an increasing number of people are suffering from diabetes, cancer, cardiovascular diseases, and chronic obstructive pulmonary disease (COPD). These chronic conditions as well as a lot many other diseases and disorders require medical intervention at some point in time. Therefore, with the increasing hospitalization rate and rising demand for healthcare, more and more medical centers are being constructed. This is, in turn, leading the growing procurement of various medical devices and instruments, such as the pulse oximeter.

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Such instruments are of several types, such as table-top, fingertip, wrist-worn, earlobe, hand-held, nose, palm/foot, and forehead. Among these, the popularity of wrist-worn variants is expected to increase the fastest in the near future, as they are more technologically advanced than others and are preferred by the elderly, at homecare settings. This is because these variants are non-invasive, safe, compact, and lightweight; additionally, they perform well on patients in all age groups, which is another reason for their rising sales.

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The sensor in these oximeters can be disposable or reusable, of which oximeters which have reusable sensors account for higher usage. This is attributed to the fact that they can be utilized for continuous as well as short-term O2 stats monitoring. In addition to these advantages, they boast a better and more stable grip in the body part they are affixed to, in comparison to the devices which have disposable sensors.

Geographically, North America witnesses the widest adoption of oximeters, owing to the presence of numerous companies which manufacture these instruments, high healthcare spending, and surging incidence of chronic diseases. In the coming years, the fastest growth in the pulse oximeter market is predicted in Asia-Pacific (APAC), as a result of the increasing geriatric population, which witnesses more frequent hospitalization than younger people. Additionally, the air pollution levels in the region are also high, which contribute in increasing the prevalence of respiratory issues.

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