Surging Population of Geriatric People Fueling Demand for Active Pharmaceutical Ingredients

The surging population of geriatric people is driving the demand for active pharmaceutical ingredients across the world. According to the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years and above will rise to more than 1.5 billion by 2050. Across the globe, the share of geriatric people in the total population surged from 6% in 1990 to 9% in 2019, and it is expected to rise to 16% by 2050. 

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Geriatric people need extensive care, as they are more vulnerable to diseases and require a longer recovery time, because of their low immunity levels. Hence, in order to cater to the escalating requirement for drugs for treating various disorders and diseases in geriatric people, the demand for active pharmaceutical ingredients is soaring. Apart from this, the rising incidence of chronic illnesses, such as cancer and diabetes, is also fueling the expansion of the active pharmaceutical ingredients market, which is expected to witness a surge in its value from nearly $190 billion in 2020 to around $300 billion by 2030.

Depending on the type of producer, active pharmaceutical ingredients are classified into merchant and captive. Between these, the demand for captive active pharmaceutical ingredients was found to be higher during the last few years, and this trend is predicted to continue in the forthcoming years as well. This is attributed to the surging investments being made by major active pharmaceutical ingredient producing companies in various state-of-the-art production facilities and the greater ease of availability of different raw materials. 

Hence, it can be safely deduced from the above paragraphs that the sales of active pharmaceutical ingredients will shoot up in the upcoming years, mainly because of the mushrooming population of geriatric people, growing incidence of chronic diseases, and soaring healthcare expenditure of several countries around the world. 

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Surging Need for Residential and Commercial Spaces Driving India Interior Design Market

A number of factors, such as the rising number of real estate activities, growing population, rapid urbanization, surging disposable income, and increasing government initiatives to boost the construction sector, are projected to propel the growth of the Indian interior design market during the foreseeable period (2021–2030). According to P&S Intelligence, the market generated revenue of $22 billion in 2020, and it is projected to witness significant growth in the coming years. Moreover, the market is witnessing a trend of the increasing demand for theme-based offices and home interior designing, in the country.

One of the prime factors propelling the market growth in India is the surging government support to boost the construction sector. For instance, the construction industry in the country grew at a CAGR of 5.6% during 2016–2020 and it attracted institutional investments of $5 billion in 2020. Moreover, the industry is projected to appear as the third-largest market in the world by 2025. Thus, it is essential for the central government, in association with state governments, to support the development in the real estate sector, which, in, turn, driving the need for interior designing services.

Geographically, North India held the largest share in the Indian interior design market in 2020, and it is projected to lead the market during the forecast period as well. This is ascribed to the growing urbanization rate, surging investments in the real estate sector, mounting number of national and international corporate offices in the Delhi-National Capital Region (NCR), and rising number of housing projects introduced by public organizations and private builders, in the region.

Thus, the rising need for residential and commercial spaces and the increasing government support for the construction industry are projected to propel the market growth in India during the foreseeable period.

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How Is Food Preservative Industry Supporting Chitosan Market Growth?

Factors such as the rising consumption of chitosan in the biomedical, wastewater treatment, agrochemical, food and beverage, cosmetic, and bioplastic industries and increasing research and development (R&D) activities being carried out in this compound are expected to facilitate the chitosan market growth during the forecast years (2021–2030). According to P&S Intelligence, the market was valued at ~$1.8 billion in 2020. Chitosan refers to biodegradable and non-toxic sugar, which is derived from the hard outer skeleton of crab, shrimp, and lobster.

One of the primary growth drivers for the market is the burgeoning demand for bioactive materials in the biomedical industry. Pharmaceutical companies are increasingly using chitosan to manufacture bioactive materials such as sponges, hydrogels, fibers, and films, due to its biocompatibility. Additionally, the large-scale consumption of this chemical in drug delivery systems, owing to its ability to enhance the water solubility and stability of drugs, reduce enzyme degradation, and prolong cycle time. The advantageous properties of chitosan, therefore, help in improving the effectiveness and safety of drugs. 

Geographically, Asia-Pacific (APAC) held the largest share in the chitosan market during the historical period, and it is also expected to demonstrate the fastest growth throughout the forecast period. This can be attributed to the chelating feature of chitosan, which makes it ideal for the treatment of heavy-metal-laden industrial effluents. Moreover, the increasing R&D activities being conducted in chitosan and the surging incidence of chronic diseases will also augment the market growth in the region in the forthcoming years.

Thus, the rising consumption of chitosan in the biomedical and food and beverage industries will support the market growth in the upcoming years.

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What Is Seed Treatment, and How and Why Is It Done?

The population, especially of developing countries, is growing rapidly, which is set to play a key role in the boom of the global population from 7.7 billion in 2019 to 9.7 billion by 2050, says the United Nations (UN). This is propelling the demand for food, the production of which is already not enough to feed the current population, and its growth is driving the rate of starvation. There are a number of reasons for inadequate crop yield, including pests and diseases, natural calamities, and urbanization and reducing farming area.

P&S Intelligence considers all these factors while forecasting significant growth of the seed treatment market revenue from around $6 billion in 2020. This is because coating or injecting seeds with chemical and biological agents makes them impervious to microbial diseases, helps ward of pests, and improves their germination. Thus, with the agrarian community turning to advanced techniques to boost the crop yield, the consumption of such agents will only increase.

Apart from food crops, seed treatment is done for cash crops, such as oilseeds, cotton, tea, coffee, and those now being used to produce biofuels. In this regard, the surging concerns over the greenhouse gas emissions due to the consumption of fossil fuels and their diminishing reserves, are driving the demand for biofuels, such as bioethanol and biodiesel. Such products are produced by fermenting the sugar found in sugarcane and other starchy plants, for which the feedstock must be of high quality, thus boosting the need for seed treatment.

Presently, Asia-Pacific (APAC) is the largest seed treatment market because it is home to some of the most-agriculturally productive countries in the world, including China, India, and Vietnam. Additionally, these are also countries with huge populations, which is why the problem of starvation and malnutrition has always been big here. As a result, farmers in the region are doing all they can to boost their crop yield, especially in the face of the expanding cities, which are taking up arable land.

Thus, with the booming population and food demand, the practice of seed treatment will continue to find takers.

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Why will Use of Truck Platooning Soar in North America in Coming Years?

In recent years, the popularity of truck platooning has surged massively. This has been primarily because of the various advantages offered by this technology, such as safer, cleaner, and more efficient road transport. Moreover, truck platooning assists in reducing the emission of carbon dioxide (CO2) and the consumption of fuel by trucks. As per the European Federation for Transport and Environment, emissions produced by trucks contribute around 25% of the total road transport emissions currently. 

Truck Platooning Market Outlook

Furthermore, according to an Intelligent Transportation System for Commercial Vehicles (ITS4CV) study conducted by the European Road Transport Telematics Implementation Coordination (ERTICO), platooning can massively reduce CO2 emissions, with up to 8% reduction in emissions from the leading truck and 16% reduction from the trailing truck. In addition, truck platooning can also massively improve the safety levels in truck transportation. For instance, braking under the truck platooning system is automatic and immediate, with the trucks following the lead truck needing less time (around one-fifth) than the normal human reaction time to brake. 

Apart from this, platooning also assists in route optimization, which helps drivers in increasing the truck’s driving range. It also enables the driver to perform other work-related tasks, such as doing paperwork and making calls. Owing to these factors, the demand for truck platooning is surging sharply, which is, in turn, fueling the expansion of the global truck platooning market. Truck platooning basically involves the optimum usage of autonomous driving technologies, which not only mitigates the chances of road accidents, but also, improves the trucks’ overall operational efficiency and assists fleet operators in making significant savings on maintenance and fuel costs. 

Hence, it is safe to say that the demand for truck platooning will soar in the coming years, primarily because of the various benefits of this technology and the growing requirement for greater vehicle safety across the world. 

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Advanced Wound Care Market to Grow due to Rising Incidence of Diabetes

The number of burn cases across the globe is rising rapidly. For example, about 180,000 deaths occur due to burns every year, and majority of these cases occur in low- and middle-income countries, as per the World Health Organization. In addition to this, the annual number of burn incidence in India is about 6–7 million. A burn injury is caused by heat because of radioactivity, radiation, friction, electricity, or contact with chemicals. The damage caused by burn can cause severe damage to the skin and other affected tissues, which is why proper treatment is required for these cases. 

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Owing to this, the demand for advanced wound care products is growing rapidly. These products have a higher absorption capacity as compared to conventional wound care products, including sponge, wadding, gauze, and plaster, which is a crucial aspect for preventing wound seepage. Advanced wound care products also allow the exchange of oxygen, simultaneously blocking the entry of microbes into wounds, aid in the formation of new tissues, and retain moisture. It is due to these benefits that the global advanced wound care market is expected to progress at a significant pace in the years to come.  

Geographically, North America has been the largest user of advanced wound care products in the past, owing to the rising cases of obesity and diabetes, increasing geriatric population, and surging cases of road accidents in the region. Other than this, the Asia-Pacific region is projected to emerge as the fastest-growing advanced wound care market in the coming years. This is particularly attributed to the surging number of burn case and diabetes in the region. 

Hence, the demand for advanced wound care products is rising due to the growing number of burn cases around the globe.   

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Population Health Management Market to Register Growth due to Surging Geriatric Population

 Owing to the growing prevalence of chronic and lifestyle-associated diseases and rising geriatric population, the demand for personalized medicine is growing as well. Personalized medicine services separate patients into groups and cater to their needs accordingly. With the improved healthcare analytics capabilities and growing understanding of genes, healthcare providers are able to understand the impact of pathogens, possible health outcomes in individual patients, drug responses, and impact of diseases. Its is due to these advantages that the demand for personalized medicine, which, in turn, is driving the requirement for population health management solutions. 

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Public health management solutions make use of business intelligence for combining data and providing an aggregated clinical picture of every patient. By making use of this data, healthcare providers are able to track and improve patient outcomes. These services and solutions further help in cutting down healthcare costs. These solutions are delivered through on-premises, cloud-based, and web-based modes. The solutions were delivered the most through web-based delivery mode in the past. This being said, the adoption of cloud-based services is expected to rise in the near future. 

The surging geriatric population is among the major reasons for the growth of the population health management market. Because of low immunity levels, the aged population requires extensive care. Furthermore, a large number of people aged 60 years and above often suffer from chronic disease, which is why they need to visit hospitals frequently for managing their conditions. Ascribed to these factors, the demand for population health management services is increasing swiftly. Personalized medicine aids in providing better and effective medical care for aged people. 

Hence, the demand for personalized medicine is resulting in the rising need for population health management solutions.    

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