Wireless EV Chargers Facilitating Hassle-Free Long Drives

The International Energy Agency (IEA) reveals that the global stock of plug-in hybrid vehicles (PHEVs) , battery electric vehicle (BEVs) , and fuel cell electric vehicle (FCEVs) stood at 3,346,713 units, 6, 850,327 units, and 31,225 units, respectively, in 2020. By 2030, the stock of PHEVs, FCEVs, and BEVs will rise to 44,355,904, 1,152,588, 79,975,992, respectively 2030. Whereas, the global stock of BEV and PHEV electric buses is expected to surge from 515,400 in 2020 to 3,217,713 by 2030 and 81,898 in 2020 to 358,921 by 2030, respectively.  

Wireless EV Charging Market Outlook

   

Thus, the surging adoption of EVs will augment the need for fast charging options, owing to which the wireless EV charging market will advance at a significant rate during 2020–2030. To establish a fast EV charging infrastructure, several charging station developers are focusing on investing in research and development (R&D) in wireless technology. The installation of dynamic wireless systems on EVs allows them to be charged while on the move. Moreover, the absence of charging cables in wireless systems makes it more user-friendly than cable charging systems.

According to P&S Intelligence, Asia-Pacific (APAC) will dominate the wireless EV charging market in the foreseeable future. This will be due to the escalating EV adoption in developing countries, such as India and China, and developed countries, such as Japan. In recent years, China has emerged as an active participant in the EV charging industry, due to the rapid development of advanced inductive chargers. For example, in 2016, Zhejiang VIE Science & Technology Co. Ltd. and Evatran Group Inc. formed a joint venture to integrate PLugless, a wireless charging system of the former, into the EVs being manufactured in China.

Thus, the soaring number of EVs, owing to the mounting environmental concerns and escalating government support, will augment the installation of wireless EV chargers in the forthcoming years. 

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Surging Healthcare Expenditure Powering Sales of Prostate Cancer Treatment Devices in U.S.

 The availability of automated, efficient, and advanced clinical tools and the emergence of extremely accurate forms of medical treatment such as image-guided radiation therapy (IGRT), stereotactic radiosurgery (SRS), and brachytherapy are pushing up the demand for prostate cancer treatment devices in the U.S. For example, Accuray Incorporated developed CyberKnife S7 System, which is a device equipped with synchronization treatment delivery and real-time artificial intelligence (AI)-driven motion tracking for all stereotactic body radiation therapy (SBRT) and SRS treatments, in June 2020.

This device is the next-generation CyberKnife platform, which is a non-invasive and a robotic radiation therapy device that can treat benign and cancerous tumors all over the body, including those in prostate glands. The increasing incidence of prostate cancer is another major factor boosting the sales of prostate cancer treatment devices in the country. According to the American Cancer Society (ACS), one of the most prevalent types of cancers in male persons in the U.S. is prostate cancer. 

Additionally, the organization predicts that the country will witness as many as 191,930 new prostate cancer cases in 2020. With the increasing incidence of prostate cancer, the requirement for several types of treatment equipment such as those used in surgery, cryotherapy, and radiotherapy will surge in the coming years. The soaring number of government initiatives being launched and the surging healthcare expenditure in the country are also propelling the sales of prostate cancer treatment devices.  

The federal government spends a huge portion of the country’s GDP on healthcare every year. According to the National Health Expenditure Accounts (NHEA), in the U.S., the healthcare spending increased by 4.3% and reached $3.3 trillion in 2016. In 2017, the healthcare expenditure further rose to 5.4%. The increasing healthcare expenditure is making the management and treatment of many diseases highly affordable by reducing the prices of prostate cancer treatment devices.  

The mushrooming sales of these devices are fueling the growth of the U.S. prostate cancer treatment devices market. According to the estimates of the market research firm, P&S Intelligence, the valuation of the market would grow from $95.9 million in 2019 to $157.1 million by 2030. The market will demonstrate a CAGR of 5.6% from 2020 to 2030. Surgery, radiation, high-intensity focused ultrasound (HIFU), and cryotherapy are the main types of prostate cancer treatment devices used in the country. 

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Why are Sales of Skincare Dermacosmetics Products Soaring in India?

India has witnessed rapid economic progress in recent years, which has subsequently resulted in a massive rise in the disposable income of its citizens. As per the data produced by Trading Economics, in India, the disposable income grew from $2,738.1 billion in 2018 to $2,935.9 billion in 2019. Moreover, with the country predicted to witness sharp economic growth in the coming years, the purchasing power of its citizens will further shoot up.

This will, in turn, propel the sales of skincare dermacosmetics products in the country in the coming years. Besides the increasing disposable income of people, the rising inclination of people for having a good physical appearance is also propelling the sales of skincare dermacosmetics products in the country. People are making huge investments for brightening and maintaining their skin and using products for mitigating the occurrence of acne marks and the signs of aging such as fine lines and wrinkles.

Furthermore, as per the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 8.5% between 2020 and 2030. The major brands that sell skincare dermacosmetics products in the country are Neutrogena, Avène, L’Oréal (Skinceuticals and CeraVe), A-Derma, Galderma and Cetaphil, BIODERMA, Clinique, Sebamed, Ducray, Clarins, and Shiseido. Out of these, the demand for products developed by Avène was found to be the highest in the country in 2019. 

This was mainly because of the availability of a diverse range of products and patented technologies developed by the company for addressing various skin problems and concerns. The major application areas of skincare dermacosmetics products in the country are wrinkles and fine lines, acne, dark circles, skin repair, scars, and psoriasis. Out of these, skin repair applications are predicted to generate the highest demand for skincare dermacosmetics products in the coming years. 

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Why are Sales of On-Board Chargers Rising Sharply?

The mushrooming demand for electric vehicles is encouraging electric vehicle charging system manufacturers to focus on developing technologically advanced and innovative variants. Moreover, with the surging concerns being raised over the deteriorating environmental conditions, many electric vehicle manufacturers are making huge investments in research and development (R&D) projects in order to fuel advancements in the electric vehicle technology. For instance, Fiat Chrysler Automobiles N.V. announced in July 2019 that it intends to make an investment of $788 million (EUR 700 million) for developing a manufacturing line for the newer models of its Fiat 500 minicar.

Industry Outlook for On-Board Charger

This manufacturing line will enable the production of around 80,000 units every year. These investments are causing a sharp fall in manufacturing costs, which is, in turn, leading to the production of affordable electric vehicles. This is subsequently pushing up the demand for on-board chargers. These projects have led to the development of batteries having increased power densities. Besides, the increasing deployment of alternating current (AC) charging stations in emerging economies is also fueling the expansion of the on-board charger market.

This is primarily ascribed to the deployment of numerous AC chargers, as they are majorly used at homes for charging electric vehicles. As these chargers are cheaper than the other variants, they are being preferred by people throughout the world. Some of the major on-board charger manufacturing companies across the world are NXP Semiconductors N.V., Delta-Q Corporation, Delphi Technologies PLC, Eaton Corporation plc, Delta Electronics Inc., Avid Technology Inc., Toyota Motor Corporation, Infineon Technologies AG, and LG Chem Ltd.

Hence, it can be said without any doubt that the demand for on-board chargers will surge sharply in the forthcoming years, primarily because of the growing deployment of electric vehicles and the development of technologically advanced charging systems, on account of the surging investments being made by industry players across the world. 

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Optical Amplifier Market Future Trends, Prominent Players, Covid 19 Impact and Forecast by 2030

A number of factors such as the soaring infrastructural investments, rising technological advancements in wireless sensor, mounting number of data centers, burgeoning demand for data transmission without data losses for longer distances, and surging number of smart cities and smart homes will act as a growth driver for the optical amplifier market. An optical amplifier refers to a device that directly amplifies an optical signal and generates an output signal with elevated optical power without converting it to an electrical signal. 

This device has completely transformed networking and communication systems. Categories under the type segment of the optical amplifier market are Raman amplifier, earth doped fiber amplifier (EDFA), and semiconductor optical amplifier. In 2019, the EDFA category generated the highest revenue in the market, as this amplifier is an important component in long-range optical fiber communication. Due to the large gain bandwidth of EDFA, it is utilized in data channels with high data rate. 

As compared to the other amplifiers, EDFA is more reliable and has a longer lifetime. The end user segment of the optical amplifier market is classified into aerospace, industrial, healthcare, telecommunication, data center, military and defense, and others. Among these, the telecommunication category is expected to account for the largest market share, primarily on account of the rising use of optoelectronic devices, such as optical amplifiers, and optical fiber for communication medium. 

Whereas, the data center category will hold the second position in the market in the coming years, due to the surging need for multiple devices, servers, and devices, using optical amplifiers, in data centers. According to P&S Intelligence, Asia-Pacific (APAC) is expected to account for the largest share in the optical amplifier market in the coming years. This can be attributed to the increasing penetration of smartphones and expanding broadband user base in the region. 

For instance, according to the India Cellular & Electronics Association (ICEA), the number of smartphone users in India will rise from 500 million in 2019 to 829 million by 2022. ICEA also states that the average monthly data consumption of an individual will reach 18 GB by 2024.

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Facial Care Products Helping People Look Fresher and Younger

Facial care products, such as face wash, face creams, face masks, moisturizers, cleansers, scrubs, serums, and toners are gaining prominence among the working class,  as they alleviate stress and signs of aging and revitalize the skin, which, in turn, helps people look fresh even after long working hours. For instance, Tata Harper aromatic stress treatment, Estée Lauder stress relief eye mask, and Vitruvi facial spray help in increasing facial glow and alleviating the stress of end-users.

Moreover, the booming geriatric population will also support the facial care market growth in the foreseeable future. As aging leads to skin loosening, old people across the world are increasingly opting for anti-aging creams, owing to the rising consciousness among this age pool to look younger. The United Nations Department of Economic and Social Affairs (UNDESA) estimates that the population of people aged 65 years or above will surge from 727 million in 2020 to more than 1.5 billion by 2050.

According to P&S Intelligence, Asia-Pacific (APAC) will dominate the facial care market in the forthcoming years. This will be due to the mounting disposable income of people, escalating appearance consciousness among people, and surging public awareness about the benefits of facial care products in the region. For instance, the Reserve Bank of India reveals that the net disposable income of people in India increased from INR 15,534,214 in the financial year 2017–18 to Rs.17,258,624 in the financial year 2018–19.

Thus, the soaring work stress level and burgeoning population of geriatric people will augment the use of facial care products in the upcoming years. 

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/facial-care-market

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Surging Geriatric Population Driving Worldwide Demand for Contact Lenses

With the surging population of geriatric people, the demand for contact lenses is soaring across the globe. According to the 2020 World Population Aging report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As vision ailments are highly prevalent among geriatric people, the ballooning population of older people is fueling the sales of contact lenses.

Out of the daily wear, traditional wear, and extended wear contact lenses, the demand for the daily wear contact lenses was found to be the highest in 2020. This was because of the high risk of vision ailments, which became a major concern, on account of the regular wearing of masks by people to reduce the spread of the COVID-19 infection. 

Furthermore, the rising incidence of vision ailments, on account of the increasing screen time of people, is massively boosting the demand for spherical lenses across the world. Geographically, North America was the dominant region in the contact lenses market in 2020. This was primarily because of the presence of a large geriatric population and the high prevalence of vision ailments in the region. In addition to these, the adoption of sedentary lifestyles and the surging screen time of people have massively increased the occurrence rate of vision ailments in the region, thereby propelling the requirement for contact lenses.

Hence, it is clear from the above paragraphs that the demand for contact lenses will rise enormously in the forthcoming years, primarily because of the mushrooming population of geriatric people, increasing per capita income in several countries, surging healthcare expenditure, and the growing prevalence of vision ailments across the world. 

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