Increasing Prevalence of Neurological Diseases Propelling Brain Implants Demand

 With the surging geriatric population in several countries, on account of the falling death rates and increasing life expectancy of people, the demand for brain implants is growing rapidly across the world. As per the findings of the United Nations (UN), the share of people aged 65 years and above in the global population increased from 6% in 1990 to 9% in 2019. Furthermore, the share will to rise to 16% by 2050, as per the estimates of the UN. 

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Additionally, 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 geriatric people are highly vulnerable to various neurological diseases such as Parkinson’s, epilepsy, essential tremors, depression, and Alzheimer’s, their soaring population is augmenting the need for brain implants.

Spinal cord stimulation, vagus nerve stimulation, and deep brain stimulation are the most commonly used types of brain implant procedures around the world. Out of these, the demand for deep brain stimulation treatments is expected to surge sharply in the upcoming years. This will be because of the several advantages of deep brain stimulation over the other treatment procedures such as reduced stiffness, lesser difficulties in walking, and quicker reaction times. This treatment is usually prescribed to the patients who show no improvement in their condition from therapies over a period of at least five years. 

Across the globe, the brain implant market will register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the surging investments being made in research and development activities for developing long-term treatment procedures for psychiatric and neurodegenerative diseases and the presence of a rapidly improving healthcare infrastructure in the region.

Therefore, the demand for brain implants will rise tremendously in the forthcoming years, mainly because of the surging population of geriatric people and the rising prevalence of neurological diseases all over the world. 

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Disposable Medical Supplies Quickly Replacing Multiuse Products at Hospitals

 Every day, one in 31 hospital patients contracts a hospital-acquired infection (HAI) in the U.S., which, in total, lead to 1.7 million cases and 99,000 deaths in the country each year, says the Centers for Disease Control and Prevention (CDC). This and the generally high levels of hygiene to be maintained at such places have been driving the demand for disposable medical supplies. Moreover, the COVID-19 situation has raised the general awareness on disposable products as a means to prevent infections.

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Due to the combined effect of these factors, the medical disposables market revenue, as claimed by P&S Intelligence, will increase to $90 billion by 2030 from $51 billion in 2020. Medical settings are rapidly adopting disposable medical supplies ranging from surgical gloves and syringes to vital signs monitor electrodes and even the consumables used to sterilize medical products. The idea is since they are used only on one patient and then discarded, the chances of them accumulating pathogens from one patient and spreading them to another healthy one are extremely few.

One of the most-significant factors in this regard is age, which makes people vulnerable to diseases and injuries of all types. For instance, the American Heart Association (AHA) estimates the cardiovascular disease incidence in the U.S. at around 40%, 75%, and 86% for the age groups of 40–59, 60–79, and above 80, respectively. Thus, with the United Nations (UN) predicting the population in the age group of 65 and above to rise from 727 million in 2019 to 1.5 billion in 2050, a lot more hospitalizations are in the offing, which would definitely boost the demand for all types of medical supplies imaginable.

Presently, North America is the largest medical disposables market because of its advanced healthcare industry and high number of medical facilities. In addition, the medical reimbursement scenario here is rather favorable, which allows people to easily afford expensive care. Further, the COVID-19 situation is quite grave in the region, the U.S. being the country with the highest case and mortality counts, which has catapulted the demand for disposable medical supplies.

Hence, with the rising number of hospitalizations and medical examinations amid the growing awareness on hospital hygiene and HAIs, the demand for disposable medical supplies will continue to surge.

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Increasing Adoption of Automotive Electronics Fueling Automotive Diagnostic Scan Tools Demand

 With the surging sales of automobiles, enactment of strict emission norms, and increasing complexities associated with automotive electronics, particularly in connected cars, the demand for automotive diagnostic scan tools is rising sharply. The rising urbanization rate, especially in developing countries such as India, Indonesia, and China, is propelling the requirement for automobiles. As diagnostic scan tools are critical for the efficient and smooth operation of automobiles, their demand is soaring, owing to the expansion of the automobile industry.

In addition, the governments of many countries have made maintenance and inspection checks mandatory in order to reduce the emission of greenhouse gases from vehicles, which is also pushing up the demand for automotive diagnostic tools. For example, the Environmental Protection Agency (EPA) enacted the Clean Air Act and amended it in 2001, which made the administration of vehicle maintenance and inspection programs mandatory for 33 local regions and states in order to curb vehicular emissions and meet the required air quality standards via the use of on-board diagnostics (OBD) technology. 

Therefore, in order to resolve any issues associated with these automotive electronics, automotive diagnostic scan tools are required. Due to these factors, the automotive diagnostic scan tools market is exhibiting huge expansion. Automotive diagnostic scan tools are required for maintaining and repairing both commercial and passenger vehicles. Between these, the usage of these tools is predicted to rise rapidly in passenger vehicles in the coming years. This is ascribed to the growing deployment of passenger cars across the globe. Apart from this, the mushrooming requirement for greater vehicle safety is also pushing up the requirement for these tools, as per the observations of the market research company, P&S Intelligence. 

Hence, it can be said with confidence that the demand for automotive diagnostic scan tools will surge sharply in the forthcoming years, primarily because of the growing sales of automobiles and increasing complexities associated with various automotive electronics. 

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North America To Be Largest User of Label-Free Detection Technologies

 Two of the biggest causes of death worldwide are cardiovascular diseases (CVDs) and cancer, which carry an annual mortality of 17.9 million and 9.6 million, respectively, according to the World Health Organization (WHO). Other common chronic diseases are chronic obstructive pulmonary disease, which affects more than 250 million, and diabetes, from which at least 422 million suffer each year. This high case count, which is rising every year, is propelling research and development (R&D) activities in the fields of diagnosis and treatment.

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As per P&S Intelligence, the growing chronic disease incidence will drive the label-free detection technology market from $1,197.5 million in 2019 to $3,097.4 million by 2030, at a 9.0% CAGR between 2020 and 2030. During drug discovery, the tissue or cell on which the effect of an investigational drug is to be tested is attached to a label, or tag, which helps in detecting the activity of the drug on it. The label-free detection technology eliminates the requirement for labeling, instead, using the size, molecular weight, electrical impedance, charge, refractive index, and dielectric permittivity of the drug in the tissue.

For all such purposes, a range of technologies are used, such as surface plasmon resonance (SPR), mass spectrometry, microplates/reader-based technology, bio-layer interferometry (BLI), and calorimetry. Among these, mass spectrometry is used the most widely, on account of its preference among researchers to ascertain the structural characteristics of the bound proteins and derive information about molecules. In the coming years, the usage of SPR will rise rapidly, as it is cost-effective and reproducible, requires minimal sample volumes, and uses a continuous flow mechanism.

Hence, as the demand for novel drugs to combat chronic diseases and keep the mortality count low increases, so will the requirement for the instruments and consumables used for label-free detection.

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Why Are Customers Shifting To Online Grocery Retailers?

According to the World Bank, approximately 80% people in developed countries and nearly 35% in emerging economies have access to the internet. The surging internet penetration will, therefore, steer the online grocery market growth in the forthcoming years. Additionally, the rising preference for e-payment services will also encourage customers to purchase their groceries from online platforms. Moreover, the increasing security of e-payment solutions, owing to the development of encrypted platforms, will also promote the practice of online grocery shopping.

Online Grocery Market Outlook

Besides, the soaring number of smartphone users and mounting population of tech-savvy consumers will also popularize the usage of e-commerce platforms for grocery shopping. Smartphone users are using their devices to opt for home delivery or click-and-collect options of procuring groceries from online platforms. In recent years, customers have been preferring the home delivery option over the click-and-collect service, due to the higher convenience offered by the former. Apart from smartphones, tech-savvy customers are also placing their orders from other smart devices such as smart TVs, tablets, and laptops.

According to P&S Intelligence, Europe dominated the online grocery market in the preceding years, due to the booming population of baby boomers and rising internet penetration in the region. Whereas, the Asia-Pacific (APAC) market is projected to progress at the highest rate in the foreseeable future. This can be ascribed to the fact that the online grocery shopping is the most favored option in China. Among APAC nations, India will shift toward online grocery shops at the fastest pace, due to the rising internet penetration and increasing work pressure on people.   

Therefore, the rising internet and smartphone penetration, booming tech-savvy population, and increasing use of e-payment systems will encourage more people to shop grocery online, across the world.  

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How Is Biomedical Industry Supporting Chlorobenzene Market Growth?

Factors such as the burgeoning demand for personal care and pharmaceutical products and the widening application base of chlorobenzene in the chemical industry will drive the chlorobenzene market growth during the forecast period (2021–2030). Moreover, the booming demand for high-performance polymers and agrochemicals will also support the market growth in the coming years. According to P&S Intelligence, the market revenue reached around $2.3 billion in 2020. Additionally, the increasing use of chlorobenzene as a solvent in the rubber industry will also augment the demand for the compound in the upcoming years.

Chlorobenzene is majorly used as a solvent in the synthesis of pesticide and insecticide formulations, organic chemicals, drugs, di-phenyl oxide, di-isocyanate, and nitrobenzene. With rapid industrialization and globalization, the demand for chlorobenzene from manufacturing and chemical facilities will escalate at a significant rate in the foreseeable future. Thus, the flourishing chemical industry will drive the demand for this compound in the forthcoming years. Besides, the increasing use of chlorobenzene for degreasing automobile parts will also boost the market growth in the forecast years, owing to the mounting automobile sales.

The type segment of the chlorobenzene market is categorized into monochlorobenzene, paradichlorobenzene, orthodichlorobenzene, and others, such as m-Dichlorobenzene, hexachlorobenzene, tetrachlorobenzene, and trichlorobenzene.  Among these, the paradichlorobenzene category is expected to demonstrate the fastest growth during the forecast period. This will be due to the booming production of polyphenylene and polyphenylene sulfide, both of which need paradichlorobenzene as a raw material. Moreover, the increasing production of paradichlorobenzene in the U.S., Japan, and China will support the growth of this category in the upcoming years.

Geographically, Asia-Pacific (APAC) accounted for the largest share in the chlorobenzene market during the historical period (2015–2020), and it is expected to retain its dominance throughout the forecast period. This can be attributed to the increasing consumption of chlorobenzene in the production of herbicides and polyphenylene sulfide resin in the region. China is the largest producer and consumer of chlorobenzene in the world, due to the presence of a strong manufacturing base in the country.

Thus, the booming demand for pharmaceutical products and the growing chemical industry will complement the market growth in the coming years.

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How is COVID-19 Pandemic Affecting Corporate Wellness Market?

 The surging focus of enterprises on employee wellbeing and health, on account of the increasing incidence of chronic diseases and the sedentary character of various jobs, is driving the growth of the global corporate wellness market. According to the estimates of the market research company, P&S Intelligence, the market revenue will rise from $51 billion in 2020 to more than $100 billion by 2030. Additionally, the burgeoning requirement for employee wellness perks is also fueling the expansion of the market.

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As per the World Health Organization (WHO), in 2016, more than 1.9 billion people in the age bracket— 18 years and above— were overweight. Furthermore, the organization reported that over 650 million people were obese across the world in the same year. This is primarily credited to the sedentary lifestyles and poor dietary habits of people and the lack of physical exercise. According to a study conducted by the National Library of Medicine under the U.S.’s National Institutes of Health, globally, one out of every three persons suffers from chronic diseases. 

For example, Google LLC launched a program called the TEA Check-ins in July 2020, as part of its employee training program. It is basically an acronym for energy, attention, and thoughts and it was launched to address workplace-related exhaustion and stress. Depending on service type, the corporate wellness market is divided into fitness, health risk assessment, smoking cessation, nutrition & weight management, stress management, and health screening. Out of these, the health risk assessment category contributed the highest revenue to the market in 2020.

Moreover, their strong finances and bigger operating budgets allow them to deploy corporate wellness programs, which is usually not possible for smaller organizations due to their budgetary constraints. Across the globe, the corporate wellness market is expected to register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This is attributed to the booming working population and the soaring public awareness about health and mental wellbeing in the region.

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