Microfluidic Devices Market to Witness 23.0% CAGR in Coming Years

 The demand for point of care testing (POCT) is increasing across the globe because of the growing aging population, rising prevalence of chronic diseases, and lifestyle changes. POCT is the performance of a test nearby to the site of the patient care for providing immediate results outside the traditional laboratory environment. In addition to this, diagnostic companies, such as Alere, Abaxis, and Cepheid, have started recognizing the potential of quick molecular diagnostic testing, which why they have launched various point of care products that are based on microfluidic technology in the past few years. This, in turn, is expected to drive the requirement for microfluidic devices. 

There are several applications of microfluidic devices, namely clinical & veterinary diagnostics, analytical devices, environmental & industrial, pharmaceutical & life science research, point of care diagnostics, drug delivery, and others. Out of these, the largest demand for microfluidic devices is predicted to be created for the pharmaceutical & life science research application in the near future. In pharmaceuticals microfluidic devices are utilized for sample preparation and separation, combinational synthesis, preclinical testing of drugs in living cells, and array formation. Microfluidic devices have several advantages, such as reduced reagent consumption, shortened reaction times, and enhanced data quality, which is why they are increasingly being utilized in pharmaceutical and life science applications. 

The utilization of microfluidic technologies for the miniaturization of chip is also leading to the rising adoption of microfluidic devices. The process of integrating laboratory protocols into miniaturized devices, known as lab on chip, includes various steps such as pre-treatment, separation, mixing, reaction, and pre-concentration. This further help in reducing the cost and consumption of reagent, which is also helpful in several medical diagnosis with the help of blood drop. Apart from reducing the overall cost of screening the compounds for cell biology problems, the miniaturization technique also aids in decreasing the analysis time and carrying parallel assay in microfluidic devices.   

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Rising Oral Health Awareness Fueling Dental Implants and Prostheses Demand

According to the World Health Organization (WHO), oral diseases affect around 3.5 billion people globally. The organization estimates that over 530 million children suffer from dental caries of primary teeth and around 2.3 billion adults suffer from caries of permanent teeth. Additionally, oral diseases are also related to numerous risk factors that are common for chronic illnesses such as cancer, diabetes, chronic respiratory diseases, and cardiovascular diseases (CVDs). Thus, the surging prevalence of oral diseases is creating a huge requirement for dental implants and prostheses, as severe periodontal diseases result in tooth loss.

Moreover, the increasing awareness about oral care, owing to the rising incidence of tooth decay, tooth erosion, periodontal diseases, and tooth sensitivity problems, and soaring popularity of cosmetic dentistry procedures will also fuel the dental implants and prostheses market at a CAGR of 6.1% during 2018–2023. The market revenue stood at $7.2 billion in 2017 and it is expected to reach $10.3 billion by 2023. For instance, the as per the American Dental Association (ADA), 85% of the U.S. population believes that oral health is extremely important to their overall health. 

Besides, the rising consumption of sugar, tobacco, and alcohol will also augment the use of metal, polymeric, and ceramic dental implants, dentures, abutments, and bridges and crowns, as excessive consumption of such products lead to dental caries, periodontal diseases, and oral cancers. Additionally, the surging demand for plate form and root form dental implant procedures can be attributed to the fact that most oral problems are preventable and can be treated in their initial stages. 

In addition, the flourishing dental tourism industry, especially in emerging economies, and increasing research on mini dental implants will fuel the use of dental implants and prostheses in the forthcoming years. Nowadays, dental tourism is gaining momentum in developing countries due to the high healthcare costs in developed nations. Moreover, the escalating focus on developing mini dental implants, owing to their benefits such as lower price, lesser placement time, lesser invasive nature, and smaller size as compared to conventional dental implants, will also encourage the use of such products in the coming years.

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Electronic Shelf Label Systems Delivering Precision In Retail Stores

Technological advancements in the retail sector aim to enhance the customer shopping experience. The rising complexities in managing large retail stores are encouraging the stakeholders in the retail industry to focus on automation in this sector. As part of the automation process, retail stores across the world are increasingly adopting electronic shelf label systems for delivering precision and flexibility in operations of physical stores. 

To automate their operations, retail stores are currently opting for full-graphic e-paper, liquid crystal displays (LCDs), and segmented e-paper. Moreover, the increasing need for enhanced functional efficiency in inventory and warehouse management and physical management will also support the electronic shelf label market growth during 2021–2030. 

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According to P&S Intelligence, the market was valued at $782 million in 2020. Improved efficiency in warehouse and store management has eased the work of retailers. Owing to the ease of operation offered by electronic shelf label systems, these automated systems have become useful in scheduling service operations and product deliveries and displaying product information.

In recent years, electronic shelf label system manufacturing companies have been focusing on the development of near-field communication (NFC) technology-based systems. The integration of NFC technology in these electronic label systems enables retailers to update information, such as cost, discounts, special offers, and other product details, by using NFC-enabled smartphones. 

Thus, the deployment of NFC-based systems in supermarkets, hypermarkets, specialty stores, and non-food retail stores helps retailers in price optimization, fast and contactless data transfer between different devices, and efficient stock management.

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Supportive Government Initiatives Driving Electric Off-Highway Vehicles Market Growth

Due to the implementation of strict emission norms by the governments of several countries, the demand for eco-friendly vehicles has increased massively. This is driving the expansion of the global electric off-highway vehicles market. As a result, the market generated a revenue of $6,399.5 million in 2020. Moreover, with the enactment of these regulations, many automotive manufacturing companies are shifting their focus from internal combustion engine-powered vehicles toward automobiles having alternative powertrains.

Electric Off-Highway Vehicles Market Outlook

Additionally, the surging requirement for emission-free and low-noise construction machines, especially in residential areas, is also fueling the growth of the electric off-highway vehicles market. Due to these factors, the electrification of off-highway vehicles, including those used in the construction industry, is rising rapidly. This is because of the fact that the necessary technologies are rapidly becoming affordable and mature. For example, AB Volvo is providing a range of electric compact equipment such as L25 electric compact wheel loader and ECR25 electric compact excavator. 

Across the globe, North America is predicted to hold the largest share in the electric off-highway vehicles market till 2030. This is attributed to the implementation of environmental protection initiatives for controlling the carbon footprint and reducing the emissions generated from the construction industry in the region. For example, 15 states and the District of Columbia have aimed to have 100% of all new heavy- and medium-duty vehicle sales to be of emission-free variants by 2050. Further, the rising demand for electric mining dump trucks, electric tractors, electric lawnmowers, electric loaders, electric excavators, and electric dozers is massively augmenting the sales of electric off-highway vehicles in the region.

Hence, it can be said without any hesitation that the demand for electric off-highway vehicles will explode in the coming years, primarily because of the growing adoption of electric vehicles, on account of the surging air pollution levels and enactment of favorable government initiatives, and increasing construction and infrastructural development activities in several countries. 

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How Are Automobile Manufacturers Fueling Industrial Aerosol Production in India?

Mushrooming demand for aerosols in the automobile sector and aftermarket will drive the Indian industrial aerosol market at a CAGR of 5.6% during the forecast period (2020–2030). The market stood at $70.95 million in 2019 and it is projected to reach $115.85 million by 2030. Aerosols are used in the production of passenger cars, quadracycles, commercial vehicles, two-wheelers, and three-wheelers. With the increasing production and sales of such vehicles, the demand for these substances will escalate rapidly. For instance, as per the Society of Indian Automobile Manufacturers (SIAM), India manufactured 30,915,420 vehicles in 2018–2019.

The growing manufacturing sector will also fuel the consumption of aerosols in the coming years. According to the India Brand Equity Foundation (IBEF), the expansion of the manufacturing sector can be owed to the burgeoning demand for electrical machinery and equipment, consumer devices, and electrical appliances. Furthermore, the Ministry of Commerce and Industry, the Government of India, states that the cosmetics and beauty products sector in the country is flourishing, due to the surging per capita income.

According to P&S Intelligence, the Indian industrial aerosol market is fragmented, due to the presence of numerous players, including Zenith Spray and Aerosols Private Limited, Twin Tech India Pvt. Ltd., 3M Company, PRIME AEROSOLS, Indian Aerosols Pvt. Ltd., Renuka Multichem, Aerol Formulations Private Limited, OKS Speciality Lubricants India, S. S. Aerosols Pvt. Ltd., Aerosol Specialities (India), and Pidilite Industries Ltd. In recent years, these companies have been involved in product launches to gain a competitive edge over others. For instance, CRC Industries Inc., in November 2019, announced the launch of OZZYJUICE SW-X1, a new degreasing solution.

In the same vein, in May 2020, 3M Company introduced an anti-heat solution — 3M Scotchkote Polytech Exp RG700 — for the Indian Railways. This solar-reflective layer reduces the temperature inside a closed area and is suitable for a wide range of metallic substrates. Similarly, in November 2020, CRC Industries Inc. announced the introduction of a multi-use automobile parts degreaser & cleaner for cleaning brake drums, air intakes, chokes, rotors, carburetors, and throttle bodies. 

Thus, the growth in the manufacturing and automobile industries in India will accelerate the consumption of the industrial aerosols in the coming years.

Source: https://www.psmarketresearch.com/market-analysis/india-industrial-aerosol-market

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Increasing Enactment of Strict Emission Norms Fueling Drive By Wire Market Growth

 Due to the increasing enactment of stringent vehicular emission norms by the governments of several countries, advent of autonomous vehicles, and the development of connected infrastructure, the global drive by wire market revenue surged to $23,174.2 million in 2020 and it is predicted to rise even more in the coming years. The development of autonomous vehicles is a major market growth driver. These vehicles offer various advantages such as improved vehicular safety, less fuel consumption, and low emissions. 

Drive By Wire Market Outlook

As these vehicles are equipped with several sensors and consist of electrical terminals and connections, their increasing deployment is driving the demand for drive by wires across the world. Besides, the implementation of strict vehicle emission norms by several governments, on account of the escalating pollution levels, is also propelling the demand for drive by wires. Because of the enactment of these regulations, automobile manufacturers are incorporating lightweight materials in automobiles as these materials increase the fuel efficiency. This is fueling the requirement for drive by wire controls, which is, in turn, causing the growth of the drive by wire market. 

Geographically, Asia-Pacific dominated the drive by wire market between 2015 and 2020, as per the observations of the market research company, P&S Intelligence. This was credited to the high disposable income of the middle-class populace and the various cost advantages experienced by automakers and original equipment manufacturers (OEMs), on account of the low costs of labor and raw materials, in the region. Further, the implementation of stringent emission norms and soaring popularity of luxury and premium vehicles are also contributing to the market growth in the region.

Hence, it is clear that the demand for drive by wires will surge in the coming years, primarily because of the enactment of strict vehicle emission norms in several countries, rapid deployment of autonomous vehicles, burgeoning requirement for lightweight and fuel-efficient vehicles, and increasing adoption of off-highway vehicles, due to soaring construction activities across the world. 

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What are Reasons behind Growth of Surgical Sutures Market?

The market is growing due to the rising prevalence of chronic diseases, increasing healthcare expenditure, surging geriatric population, rising number of surgeries and burn cases, and increasing number of hospitals. Medical devices which are utilized during a surgery or after an individual suffers injury for holding the body tissues together and closing the wounds are referred to as surgical sutures.

When product is taken in consideration, the surgical sutures market is divided into automated suturing devices and sutures. Between the two, the sutures division dominated the market during the historical period (2013–2016) and is predicted to account for the major share of the market during the forecast period as well. The division is further bifurcated into non-absorbable and absorbable sutures. The automated suturing devices is expected to grow at the fastest pace during the forecast period, as these devices save time and need less work.

The rising prevalence of chronic diseases is a key driving factor of the surgical sutures market. As per the World Health organization, chronic diseases are the leading cause of mortality around the world, accounting for 60% of all deaths. Chronic diseases including cardiovascular diseases, cancer, viral diseases, such as hepatitis and HIV, and chronic obstructive pulmonary disease have persistent and long-lasting effect on a person’s health. Moreover, the treatment of these diseases often requires complex surgeries, which, in turn, involve the utilization of sutures. This is leading to the rising demand for surgical sutures.

Another factor positively impacting the surgical sutures market is the surging aging population. According to the United Nations Department of Economic and Social Affairs report, the number of people aged 60 years or above is predicted to grow by 56%, globally. The elder population goes through various kinds of surgeries such as abdominal & thoracic surgery, heart surgery, hip & knee replacement, non-cardiac surgery, and cataract surgery, which require different kinds of surgical sutures.

Hence, the growing prevalence of chronic diseases, surging geriatric population, and increasing number of hospitals are driving the growth of the market.

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