Cover Corona Outbreak Impact: Respiratory Diagnostic and Monitoring Device Market is expected to Boom in Coming Years

The growth of the market is attributed to the increasing geriatric population, prevalence of respiratory disease and smoking, pollution level, healthcare expenditure, and rapid urbanization. Respiratory diagnostic and monitoring devices provide monitoring and diagnostic evaluation of cardiopulmonary system disorders and diseases. These devices are used extensively in intensive care units, general and surgical wards, and homes.

On the basis of type, the respiratory diagnostic and monitoring device market is divided into gas analyzer, capnograph, spirometer, pulse oximeter, and others. In 2015, pulse oximeters held the largest share of the market, and the division is expected to grow at the highest CAGR during the forecast period as well. Pulse oximeter, a non-invasive instrument, is used to measure the proportion of oxygenated hemoglobin in the blood, and it also enables the measurement of the pulse rate.

The increasing pollution level and rapid urbanization are leading to the growth of the respiratory diagnostic and monitoring device market. The lifestyle associated with urbanization is threatening the health of individuals. Furthermore, air pollution is having a considerable effect on the respiratory health and also leading to climate change. The fine particles emitted by motor vehicles, industries, and houses are responsible for a range of cardiovascular conditions, respiratory diseases, and cancers. In addition to this, the urban lifestyle results in an increase in the prevalence of chronic diseases and consumption of unhealthy food.

Hence, emerging economies are a potential area for the growth of the worldwide healthcare industry. Moreover, the rising prevalence of respiratory diseases, rapid urbanization, and increasing pollution level are driving the growth of the market for respiratory diagnostic and monitoring devices.

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Surging Demand for HMI Solutions Driving Sales of Automotive Infotainment Systems

The burgeoning requirement for human machine interface (HMI) systems and booming sales of passenger vehicles are fueling the demand for automotive infotainment systems across the world. For instance, Nissan has announced it has started the development of self-driving cars for replacing human requirement for operating the vehicle. These systems provided various advantages such as improved scheduling and routing, reduced operating costs, and enhanced driver productivity. According to the India Brand Equity Foundation (IBEF), the production of automobiles in India grew at a CAGR of 2.36% from FY16 to FY20 and reached 26.36 million units in FY20. 

Automotive Infotainment Market Outlook

Apart from this, the surging deployment of small and medium-sized cars is also propelling the sales of automotive infotainment systems. Additionally, the rapid advancements being made in wireless technologies are also fueling the development of automotive infotainment products and services. The adoption of voice interface systems in vehicles is also creating lucrative growth opportunities for the players operating in the automotive infotainment market. Automotive infotainment systems basically refer to information and entertainment systems such as software platforms, digital versatile disc (DVD) players equipped with video screens, and audio systems such as rear sear entertainment and its accessories, radio, and navigation devices like GPS.

Many original equipment manufacturers (OEMs) have began working with suppliers for developing low-cost and feature-packed infotainment systems, which are particularly priced for low to medium segment cars. Furthermore, many automobile manufacturers are providing software updation kits to their customers for saving cost and time and improving customer experience. The other major factor propelling the demand for automotive infotainment systems is the surging deployment of electric vehicles across the world, as per the observations of the market research company, P&S Intelligence.

Hence, it can be safely said that the demand for automotive infotainment systems will soar in the coming years, mainly because of the increasing deployment of electric vehicles, surging passenger car sales, and growing requirement for HMI systems in vehicles. 

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Enactment of Strict Environmental Regulations Driving Demand for Liquid & Air Filter Bags

The enactment of strict government regulations and environmental standards for mitigating water and air pollution is driving the demand for liquid and air filter bags across the world. In recent years, industrial activities have surged in several countries and this has led to the generation of large quantities of liquid and air wastes, thereby causing rapid environmental degradation. As a result, the governments of many countries implemented environmental standards and regulations in order to reduce the emission of pollutants or contaminants into the atmosphere.

Because of the enactment of such regulations, many industries started using liquid and air filter bags, as these products help in removing the dust particles settled in various systems and machinery. Additionally, the burgeoning requirement for these filter bags in the cement manufacturing and mining industries is also creating lucrative growth opportunities for the players operating in the liquid and air filter bags market. In these industries, liquid and air filter bags are extensively used for reducing the generation of dust particles during manufacturing processes.

In this industry, these bags are extensively used for removing dust and other unwanted substances from the equipment machinery. Across the globe, the sales of these bags were the highest in the Asia-Pacific (APAC) region in the years gone by. This was due to the huge demand for clean indoor air and the implementation of stringent emission regulations in the region. Moreover, with the surging power production and the expansion of food and beverage and oil and gas industries, the demand for these bags will explode in the region in the coming years.

Hence, the sales of liquid and air filter bags are certain to shoot up in the forthcoming years, primarily because of their growing requirement in various industries and the implementation of strict emission and environmental regulations in several countries around the world.

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Why Are Automobile Manufacturers Using Methylene Chloride In Abundance?

Methylene chloride, an organic compound, is a volatile liquid with a moderately sweet aroma. The chemical formula of the organic compound is CH2Cl2. The compound is also known as dichloromethane (DCM) and is widely used as a solvent in paint removers. Additionally, DCM is also used in aerosol formulations, which are required in the production of pharmaceuticals, as an ethane foam blowing agent, and as a degreasing agent in the manufacturing of electronics. Furthermore, methylene chloride is also used as a fast-drying solvent cement for polycarbonate.

Moreover, the organic compound also serves as a key solvent in paint and adhesive formulations, due to its low flammability, excellent dissolving strength, and quick-drying properties. As the construction industry is one of the major end-users of paints and adhesives, large-scale development of infrastructure units such as buildings, bridges, and manufacturing units across the world, will fuel the methylene chloride market at a CAGR of 5.4% during forecast period. The market was valued at $1,818.3 million in 2017 and it is expected to reach $2,485.5 million revenue by 2023.

Additionally, the increasing consumption of paints and adhesives in the automobile industry, owing to the burgeoning automobile sales, will also fuel the need for methylene chloride in the coming years. For instance, the International Organization of Motor Vehicle Manufacturers (OICA) states that in 2020, 77,971,234 vehicles were sold across the world. OICA further mentions that 53,598,846 passenger cars and 24,372,388 commercial vehicles were sold in 2020. Moreover, the surging production of automobiles in developing countries such as India and China, due to the presence of a large manufacturing base, will also amplify the usage of DCM in the foreseeable future.

According to P&S Intelligence, APAC dominated the methylene chloride market in the recent past, due to the booming population and flourishing infrastructure sector in the region. Moreover, the emergence of new application areas of DCM, rapid penetration of manufacturing units in developing countries, and easy availability of raw material will also boost the production and adoption of the organic compound in the region. Additionally, the booming pharmaceutical sector in APAC will also fuel the consumption of methylene chloride in the forthcoming years.

Thus, the rising construction activities and booming automotive industry will augment the usage of methylene chloride in the foreseeable future.

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Why are Automotive Manufacturers Preferring Adhesive Tapes?

An adhesive tape refers to a continuous flexible strip made of metal foil, cloth, plastic film, or paper coated with a thin layer of permanent glutinous adhesive on one or both sides. Such tapes are available in the form of sheets or rolls of various sizes and are popularly known as tapes, sticky tapes, self-sticking tapes, and pressure-sensitive tapes. These tapes are increasingly being used for packing and binding the products related to the e-commerce, healthcare, and food and beverage industries.

The surging usage of tapes having adhesive properties, majorly in the form of protection tapes and double-sided tapes, in the automotive industry will accelerate the adhesive tapes market at a CAGR of 5.5% during forecast period. According to P&S Intelligence, the market value is expected to rise from $54,333.4 million in 2017 to 74,954.6 million by 2023. Currently, automakers are shifting from mechanical fasteners, such as screws and bolts, to adhesive tapes to reduce the weight of automobiles. Thus, with the burgeoning adoption of lightweight vehicles, the usage of such tapes will amplify in the coming years.

In the coming years, market players such as Nitto Denko Corporation, Shurtape Technologies LLC, 3M Company, Nichiban Co. Ltd., LINTEC Corporation, tesa SE, Avery Dennison Corporation, Lohmann GmbH & Co. KG, Intertape Polymer Group Inc., and Scapa Group plc will focus on the production of specialty tapes. This will be because of the surging requirement for these tapes in the automotive, electrical and electronics, construction and building, and healthcare industries, across various regions.

Geographically, Asia-Pacific adopted the highest quantity of adhesive tapes in the recent past, and it is expected to register the fastest growth in the adhesive tapes market in the foreseeable future. This can be ascribed to the surging use of these tapes in China and India, owing to the continuous research and development (R&D) and improvements in the automotive, healthcare, and electronics industries of these countries. Besides, the easy availability of cheap labor and low cost of raw materials have also fueled the production of adhesive tapes in the region. 

Thus, the rising utilization of tapes with adhesive properties in the automobile industry and increasing implementation of government regulations regarding eco-friendly tapes will propel the production of adhesive tapes in the coming years. 

Read More: https://www.psmarketresearch.com/market-analysis/adhesive-tapes-market 

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Rising Money Laundering Cases To Boost Anti-Money Laundering Market Growth

Factors such as the surging number of money laundering cases and mounting information technology (IT) expenditure will facilitate the anti-money laundering (AML) market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $2.4 billion revenue in 2020.

Moreover, the surging volume of digital payments, rising technological advancements, and mounting internet traffic will also accelerate the market growth in the foreseeable future. Financial institutions across the world are deploying AML solutions and services to mitigate money laundering incidents arising due to the increasing use of digital payments.

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Another primary factor catalyzing the market growth is the soaring number of money laundering cases worldwide. The rising incidents of such financial frauds can be attributed to the growing penetration of the internet and surging use of virtual currencies globally. Additionally, the rising preference for online banking services will also augment the demand for AML solutions in the foreseeable future.

Cybercriminals across the world are using internet banking platforms to facilitate money generation through drug trafficking and terrorist funding and make it appear to have come from a legitimate source. Moreover, the escalating focus of governments on mitigating cyberattacks and online financial frauds will also support the anti-money laundering market growth in the foreseeable future.

The burgeoning use of online banking services and rising internet traffic, and the booming number of unidentified payment services for digital transfer of funds, is encouraging governments to draft and implement stringent AML legislations and digital payment security norms to enhance control and security and ensure compliance by financial organizations.

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Why Are Surgeons Shifting To Surgical Glue?

Surgical glue refers to a synthetic or biological material used after traumatic injuries and surgeries for preventing liquid or air leakage in wounds. It is a special kind of medical sealant or adhesive that facilitates closing and healing of wounds and are capable of replacing staples and sutures in healing incisions and minor cuts. At present, the increasing incidence of plastic surgeries is creating a huge requirement for surgical glue worldwide. As per the International Society of Aesthetic Plastic Surgery (ISAPS), 1,795,551 breast augmentation, 1,704,786 liposuction, 1,259,839 eyelid surgery, 924,031 abdominoplasty, and 821,890 rhinoplasty procedures were performed in 2019. 

Moreover, the booming geriatric population will fuel the surgical glue market at a CAGR of 10.6% during the forecast period. The market revenue stood at $3,810.5 million in 2017 and it is expected to reach $6,936.5 million by 2023. The World Population Ageing 2020 report estimates that the population of people aged 65 years and above will surge from 727 million in 2020 to 1.5 billion by 2050. Elderly people are highly susceptible to cancer, diabetes, cardiovascular diseases (CVDs), and neurological disorders, which require surgeries to close incisions.

According to P&S Intelligence, North America will consume the highest volume of surgical glue in the foreseeable future, due to the huge investments being made in the research and development (R&D) of medical adhesives and increasing number of surgeries being performed in the region. For instance, the American Society of Plastic Surgeons (ASPS) reveals that 6,878,486 reconstructive surgical procedures, 13,281,235 cosmetic minimally-invasive procedures, and 2,314,720 cosmetic surgical procedures were performed in the U.S. in 2020.

Thus, the rising incidence of plastic surgeries, burgeoning aging population, and soaring cases of chronic diseases will augment the usage of surgical glues in the forthcoming years.

Source: www.psmarketresearch.com

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