Falling Infant Mortality Rate Driving Expansion of Baby Food Market

 Due to the growing population of working mothers, surging concerns being raised by parents over infant nutrition, falling infant mortality rate, soaring public awareness about innovative baby food products, and increasing urbanization rate and organized retail marketing activities, the global baby food market revenue is predicted to rise from $30.0 billion in 2020 to $53.9 billion by 2030. Furthermore, the market will progress at a CAGR of 6.1% from 2021 to 2030 (forecast period), as per the estimates of the market research firm, P&S Intelligence. 

As working women are actively focusing on the nutritional needs of their babies, their mushrooming population all over the world is driving the sales of baby food products. As per the Office for National Statistics (ONS), in England, the share of working mothers in the total population of mothers rose from 69% in 2013 to 74% in September 2018. Additionally, as per the data released by the Catalyst, which is a non-profit organization that works with more than 800 companies across the world for accelerating women into leadership positions, in India, 20.3% of the women in the age group—15 years and older—were working in 2020.

This is credited to the growing public preference for buying baby food products via various e-commerce platforms over other distribution channels. Across the globe, the Asia-Pacific (APAC) region generated the highest revenue in the baby food market in 2020 and it is predicted to be the fastest growing region during the forecast period as well. This will be because of the surging population of working women, high birth rates, soaring disposable income of people, ballooning public awareness about baby food products, and increasing research and development (R&D) activities being carried out by several baby food producing companies in the region. 

Hence, the sales of baby food products are certain to shoot up in the coming years, owing to the surging population of working women, growing disposable income of people, falling infant mortality rate, and rising public awareness about infant nutrition all over the world. 

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How Is Research in Renewable Energy Boosting Biodiesel Market Growth?

Factors such as the escalating concerns over the rising greenhouse gas emissions and mounting need for biodiesel-based fuel, owing to the environmental concerns associated with fossil fuel combustion, will steer the biodiesel market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached around $39.0 billion in 2020. Besides, the soaring number of research and development (R&D) projects being launched in the renewable energy sector and rising number of government initiatives and regulations mandating the adoption of biodiesel will also facilitate the market growth in the upcoming years.

The soaring concerns being raised over carbon dioxide (CO2) and greenhouse gases, such as carbon monoxide (CO), hydrocarbons (HCs), and Nitrogen Oxides (NOx) emissions act as the key contributor to the market growth. Biodiesel emits 50% lesser greenhouse gases than conventional fuels and it is also free of aromatic and sulfur compounds. For instance, according to the U.S. Energy Information Administration (EIA) and the U.S. Environmental Protection Agency (EPA), in 2019, around 43 billion gallons of biodiesel were consumed in the U.S.

Geographically, Europe accounted for the largest share in the biodiesel market in 2020. This was due to the soaring number of government initiatives and regulations for mitigating greenhouse gas emissions in the region. For instance, the Euro VI emission vehicle emission standards on the New European Driving Cycle (NEDC) limit the emission of CO, HC+NOx, and NOx from diesel-powered light-duty vehicles to 0.5 g/km, 0.17 g/km, and 0.08 g/km, respectively. Whereas, the gasoline light-duty vehicles have an emission limit of 1.0 g/km, 0.1 g/km, and 0.06 g/km of CO, HC, and NOx, respectively.  

Therefore, the growing concerns being raised over the rising greenhouse gas emissions and escalating R&D expenditure in renewable energy production will fuel the market growth in the coming years. 

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Why are Sales of Smart Eyewear Glasses Surging in North America?

With the growing public awareness about health and fitness, rapid innovations in sensor technology, and increasing requirement for digital instruments in the smart textiles, consumer electronics, and fitness and sports industries, the demand for smart eyewear is surging sharply across the world. Smart eyewear is basically a wearable computing device, which displays information and helps people see clearly with the help of a head mounted display or optical computerized internet connected glasses, with transparent augmented reality or heads up display. 

Industry Outlook for Smart Eyewear Market

Accelerometer, gyroscope, image sensors, pressure sensors, thermometers, and touch sensors are the major sensors used in smart glasses. North America is currently dominating the global smart eyewear market, as per the observations of P&S Intelligence, a market research company based in India. This is credited to the high obesity rate and the presence of a large population in the region. In the coming years, the demand for smart eyewear is predicted to rise at the fastest pace in the Asia-Pacific (APAC) region. This will be because of the expansion of the healthcare industry in the region. 

Other smart eyewear manufacturing companies are focusing on providing improved reality experiences via their offerings. For instance, Vuzix, which is a U.S. based company, is offering a range of advanced smart glasses such as STAR 1200XLD and Wrap 920AR. Other smart eyewear market players such as Meta are offering smart glass equipped with infrared and high definition (HD) cameras with translucent displays. The smart glasses developed by Meta allow wearers to use gestures to control augmented reality objects which fall directly in their field of vision. 

Hence, it is clear from the above-mentioned paragraphs that the demand for smart eyewear glasses will rise tremendously in the coming years, primarily because of the growing consumer awareness about advanced technologies, burgeoning requirement for smart wearable devices, and growing need for digital devices in the consumer electronics, smart textiles, and fitness and sports industries across the world. 

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Increasing Demand for Micromobility Solutions Fueling Kick Scooter Sales

The increasing adoption of kick scooters in kick scooter sharing services is fueling their sales across the world. As compared to the other types of vehicles used by shared mobility service providers, electric kick scooters can be easily leveraged for solving the issue of last-mile connectivity and they can also be hyper-localized. Moreover, these vehicles are highly compact, easy to operate, and do not need any physical exertion, which further boost their popularity among shared mobility service providers. 

Additionally, many companies have started providing their scooter sharing services in different locations, which has also propelled the growth of the kick scooter market. For example, Sharing Muving SL, which is a Spanish electric scooter sharing company, announced in 2018 that it has started offering its service in Atlanta, the U.S. Furthermore, Neutron Holdings Inc., which operates under the name LimeBike, launched dockless electric kick scooters and bikes for sharing in many cities in the U.S. in 2017. 

Furthermore, the declining prices of these batteries are also boosting their sales across the world. Geographically, the demand for kick scooters is currently the highest in the Asia-Pacific (APAC) region, as per the observations of P&S Intelligence, a market research company based in India. This is attributed to the large-scale deployment of these scooters in China. The existence of many major electric kick scooter manufacturing companies, rapidly developing electric vehicle value chain, implementation of favorable government policies, availability of affordable batteries, and the presence of a large customer pool are the main factors propelling the sales of these vehicles in the country. 

Hence, the demand for kick scooters will surge sharply in the upcoming years, primarily because of their soaring adoption in shared mobility fleets, growing popularity of micromobility solutions, owing to the increasing road congestion levels, rising requirement for better last-mile connectivity, and falling prices of lithium-ion batteries all over the world. 

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Small Joint Reconstructive Implants Market to Witness 5.5% CAGR during 2019–2024

According to the Global Burden of Disease Study, 2017, about 16% of disability cases were a result of musculoskeletal conditions, which is the second-largest cause of global disability. These conditions comprise more than 150 diagnoses that affect the bones, muscles, joints, and associated tissues — collectively referred to as the locomotor system. The most common and disabling musculoskeletal conditions are osteoarthritis and systemic inflammatory conditions, such as rheumatoid arthritis (RA). The prevalence of RA lies between 0.3 and 1%, and the condition more commonly affects females. Further, globally, symptomatic osteoarthritis affects 9.6% men and 18% women over 60 years of age.

Moreover, with aging, numerous changes occur in the cartilage and connective tissue. The joints become less resilient and more susceptible to damage due to the thinning of the cartilage and altering of its components (proteoglycans — supportive structures of the cartilage). This may either lead to osteoarthritis or stiffness in the joints; therefore, elderly people are more susceptible to such conditions as compared to young people. Many European countries, such as Italy, Germany, France, and Spain, are witnessing an increase in the geriatric population. This is resulting in the growing demand for diagnostic techniques and treatments for bone-related disorders. This factor, along with the rising prevalence of musculoskeletal diseases, is contributing to the increasing requirement for small joint reconstructive implants. 

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The highest usage of small joint reconstructive implants was observed in the North American region, among all other regions, such as Middle East & Africa, Europe, Latin America, Europe, and Asia-Pacific (APAC), in the past. This was attributed to the well-established healthcare industry in the region, technological advancements, and high adoption rate of such implants. In the coming time, the fastest growth in demand for small joint reconstructive implants will be registered by the APAC region.

This can be ascribed to the sedentary lifestyle of people and growing incidents of road accidents. The World Health Organization reported that in China, road traffic injuries are the major cause of death of people in the 15–44 age group. Further, India is also witnessing a surge in road accidents, which is adding to the demand for joint implants in the region.

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Stable Growth Predicted in Aspiration and Biopsy Needles Market in Coming Years

One of the most important factors leading to the rising demand for aspiration and biopsy needles is the increasing prevalence of cancer across the world. According to the World Health Organization (WHO), the number of people who died from cancer stood at 9.6 million in 2018. Furthermore, the number of people suffering from malignant tumors will increase from 12.7 million in 2008 to 21.4 million in 2030, which will considerably boost the demand for aspiration and biopsy needles, on account of the fact that biopsy and aspiration procedures are extensively used for studying the nature of tumors.

The other major factors contributing to the surge in the demand for aspiration and biopsy needles are the rising popularity of minimally invasive surgeries, soaring healthcare expenditure in several countries, and rapid technological innovations in the devices used for disease diagnosis. Due to these factors, the global aspiration and biopsy needles market size is predicted to increase from $801.5 million in 2019 to $1,717.9 million in 2030. The market is expected to progress at a CAGR of 7.2% during the forecast period (2020–2030).

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Geographically, the highest usage of aspiration and biopsy needles was observed in North America in 2019, mainly due to the rising awareness in the region about the early cancer diagnosis processes, soaring healthcare spending, and surging number of devices being granted approval by the USFDA. The fastest growth in the adoption of aspiration and biopsy needles is expected to be witnessed in the Asia-Pacific (APAC) region during the forecast period. This is primarily ascribed to the increasing pool of cancer patients and rising awareness regarding the various cancer diagnosis methods available in the region.

Therefore, owing to the rising incidence of cancer, increasing healthcare expenditure, and surging awareness amongst the people throughout the world about the various cancer diagnosis processes, the demand for aspiration and biopsy needles will observe significant growth in future.

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Demand for Radiotherapy Projected to Rise in Asia-Pacific

 The number of cancer cases has been rising all across the globe over the past few years. As per the American Institute of Cancer Research, by 2030, the number of new cancer incidence is expected to reach 25 million. The prevalence of cancer is further predicted to be the highest in low and middle-income countries, including India and China. Cancer is among the most common chronic diseases around the globe, and was responsible for 9.6 million deaths in 2018, as per the World Health Organization. 

The prevalence of cancer can be decreased by providing efficient medical care at initial stage of the disease, which can be done by radiotherapy and chemotherapy. Radiotherapy is majorly used for treating cancer, reducing the risk of cancer coming back if a person goes through surgery, and relieving symptoms if the patient cannot be cured. It is considered the most effective treatment for cancer, however, its effectiveness varies from person to person. According to a report by P&S Intelligence, the global radiotherapy market is expected to generate a revenue of $17,194.4 million by 2030, increasing from $7,222.4 million in 2019, advancing at an 8.4% CAGR during the forecast period (2020–2030).  

Other than this, the demand for radiotherapy is also predicted to rise in Asia-Pacific, thereby making the region the fastest-growing radiotherapy market in the coming years. This is because of the increasing burden of cancer, rising investments by private and public organizations, and improving healthcare infrastructure. As per the Global Cancer Observatory, in 2018, 883,395 cancer cases were reported in Japan, and the number is predicted to rise to 3.5 million by 2025. 

Hence, the market is growing due to the surging prevalence of cancer across the globe.   

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