Increasing Incidence of Road Accidents Driving Sales of Automotive Night Vision Systems

The rising prevalence of road accidents, especially at night, is encouraging many automobile manufacturers to incorporate night vision systems in their offerings. According to the World Health Organization (WHO), around 1.3 million deaths are caused every year because of road accidents. Furthermore, the organization reported that road accidents are leading cause of deaths for young adults in the age group of 5–29 years and children and these crashes cost several countries as much as 3% of their gross domestic product (GDP).

Automotive night vision systems have the ability to easily perceive surroundings of the vehicle beyond the range of the headlights, thereby improving the vision and perception of the driver at night or in low visibility conditions. Moreover, these systems alert the driver about obstacles and probable hazards, that are otherwise not visible, thereby improving the driving experience and vehicle safety. The adoption of these systems is currently very high in luxury and premium cars, which are majorly sold in China and developed countries such as the U.K., the U.S., Spain, Japan, and Germany. 

Because of the increasing integration of these systems in automobiles, the booming sales of vehicles, especially in the Asia-Pacific (APAC) region, are also driving the growth of the automotive night vision system market. According to the predictions of the market research organization, P&S Intelligence, the market will exhibit huge expansion from 2019 to 2025 (forecast period). Automotive night vision systems are incorporated in both commercial vehicles and passenger cars. The adoption of these systems in passenger cars is predicted to rise significantly in the coming years. 

Thus, owing to the rising incidence of road accidents, growing need for greater visibility at night and in bad weather, and the burgeoning requirement for advanced safety systems in vehicles, the demand for automotive night vision systems will surge sharply all over the world in the coming years. 

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Hospital-Acquired Infections Boosting Usage of Single-Use NPWT Devices

Wounds are perhaps the most-common form in which an injury is visible. They can range from minor scrapes and cuts to those that tear the flesh and expose the bone. While nothing normally needs to be done for minor wounds, the major ones don’t heal as quickly on their own. Moreover, unhealed wounds accumulate pus and ultimately become a breeding ground for microbes, which can lead to gangrene, requiring the entire affected tissue to be removed. In extreme cases, gangrene results in limb and arm amputations.

Access Detailed Report - Single-Use Negative Pressure Wound Therapy Devices Market Revenue Estimation

As a result of the growing awareness on the dangers of open wounds, P&S Intelligence predicts the single-use negative-pressure wound therapy (NPWT) devices market revenue to reach $1,673.1 million by 2030 from $770.2 million in 2020, at an 8.1% CAGR between 2020 and 2030. This is because since the 1990s, NPWT has become a preferred advanced wound care solution, especially for long-lasting wounds. The term ‘negative pressure’ implies that unlike conventional wound healing techniques, it doesn’t press on the wound; rather pulls at it, thereby sucking out the exudate.

In regards to single-use NPWT, it is the surging cases of hospital-acquired infections (HAIs) that are propelling their usage. As conventional variants are used on multiple patients, they can easily transmit infections from one patient to another, many of them deadly ones. The World Health Organization (WHO) says that “Of every 100 hospitalized patients at any given time, 7 in developed and 10 in developing countries will acquire at least one health care-associated infection.”. This not only leads to a high mortality burden, but it can also lead to millions in losses for healthcare settings if the allegations of negligence are proved.

Hence, North America is the largest single-use NPWT devices market in the world, because not only is its healthcare infrastructure highly advanced, but the regulations on HAI prevention are also among the strongest here. Moreover, the continent has a high incidence of chronic diseases that cause wounds on their own or as a result of surgeries. Similarly, Asia-Pacific (APAC) is embracing this technique with the increasing investments in its healthcare sector, rising burden of diseases, and an already-high incidence of burns and road accidents.

Hence, with the advancing medical sector, the adoption of single-use NPWT devices will grow.

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How Is Booming Automotive Production Driving Self-Healing Materials Market?

The self-healing materials market is advancing on account of the increasing demand for such products in the consumer electronics and automotive industries and rising number of technical advancements in them. As a result, the market value is expected to boom massively during 2021–2030 (forecast period), from $1.1 billion in 2020. As the term suggests, these materials are able to repair the damage caused to them themselves, without the requirement for humans.

Based on material, the categories of the market are concrete, polymers, coatings, asphalt, ceramics, fiber-reinforced composites, and metals. Among these, the largest share in the market during 2015–2020 (historical period) was held by the polymers category. This is ascribed to the thermal stability, abrasion resistance, and durability of self-healing polymers. Moreover, such materials imitate what is known as biological healing, which they initiate without any help from people. Moreover, polymers, which are essentially plastics, have wide-ranging applications, which is why this category will witness considerable growth till 2030.

The application segment of the self-healing materials market is classified into building & construction, mobile devices, transportation, general industrial, and others. In 2020, the building & construction category generated the highest revenue owing to the increasing usage of such materials in non-residential construction. If not checked and corrected, early-stage damage can worsen over time, ultimately leading to the failure of the material. Hence, with infrastructure development activities picking up around the world with a special focus on durability and structure safety, the demand for such materials is growing.

Europe dominated the self-healing materials market in 2020, and it is set to witness substantial growth during the forecast period. This is essentially attributed to the increasing research and development (R&D) activities being conducted in the continent in the advanced material domain. Further, France, Germany, and the U.K. are consuming self-healing polymers in various applications, including automotive, healthcare, and building & construction. For instance, Germany is home to numerous luxury automakers, such as Volkswagen, Mercedes-Benz, Volvo, Audi, BMW, Daimler, and Porsche, who are using self-healing materials in their new offerings.

Hence, with the widening applications of these materials, the revenue for market players will increase.

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Why Is Rising Multifunctional Enzyme Demand Strengthening Industrial Enzymes Market?

A number of factors, such as the surging environmental concerns, escalating demand for protease and carbohydrase in the food and beverages industry, booming demand for bioethanol, rising focus on research and development (R&D), accelerating industrialization, and increasing advancements in the nutraceutical sector will drive the industrial enzymes market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated revenue of $5.7 billion in 2020. Moreover, the advancements in enzyme engineering and green chemistry and introduction of genetically engineered enzymes will facilitate the market growth.

One of the key drivers for the market is the burgeoning demand for bioethanol owing to the rising environmental concerns and depleting fossil fuel reserves. Ethanol derived from biomass can be utilized as an octane enhancer, substitute, and extender for conventional motor fuels, such as kerosene, diesel, and gasoline, in countries with surplus agricultural produce. Additionally, biofuels can be used as a substitute for toxic oxygenates in petroleum fuels, owing to which there will be a rapid surge in the production of biogas and biodiesel and a significant reduction in air pollution levels.

Currently, companies operating in the industrial enzymes market are involving in product launches and acquisitions to consolidate their position. For instance, in December 2019, Seqens SAS introduced the 7 SEQENZYM kits for molecular synthesis transformations by the screening of enzymes and facilitating rapid assessment. Furthermore, in March 2021, Novozymes A/S completed the acquisition of the data science platform of Biota Technology Inc. to amplify its sales in the consumer health industry and embolden its microbiome R&D capabilities, which are focused on probiotic platforms.

Geographically, North America generated the highest revenue in the industrial enzymes market in 2020, and it is expected to retain its dominance throughout the forecast period. This can be primarily attributed to the surging technological advancements, soaring number of clinical trials to develop potent therapeutics, flourishing food and beverage processing sector, rising implementation of biofuel production policies, and increasing use of high-performance items such as biopolymers, biofuels, and processed food in the region.

Therefore, the soaring need for bioethanol and mounting demand for multifunctional enzymes will accelerate the market growth.

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Why is Use of Electric Vehicles and Robotics Surging in Mining Operations?

The mushrooming requirement for automated systems in mining operations is fueling the use of electric vehicles and robotics in the mining sector. Historically, the mining industry has been a highly labor-intensive industry. However, with rapid technological advancements, the increasing implementation of government regulations aimed at promoting workforce safety, and the hurdles and obstacles associated with finding skilled workers, the adoption of automation is rising in the industry. Besides, the rapid digital transformation and the surging incorporation of advanced technologies are also providing lucrative growth opportunities to mining companies.

Moreover, many mining companies are increasingly focusing on enhancing production, improving efficiency, making the overall work environment less hazardous and safer, and reducing the overall cost. Additionally, several mining firms are leveraging the industrial internet of things (IIoT) in order to ensure a highly connected network among different stakeholders in the mining industry and allow autonomous control in various processes while building sustainable value chains. This is predicted to fuel the expansion of the global electric vehicles and robotics in mining market in the coming years.

Globally, the Asia-Pacific (APAC) region will hold the largest share in the electric vehicles and robotics in mining market in the coming years, as per the estimates of the market research company, P&S Intelligence. This is ascribed to the fact that China is one of the largest producers of coal in the world, with the country accounting for around 47% of the total coal produced across the world. Indonesia and Australia are the other major coal producers in the region. The use of electric vehicles and robotics will also shoot up in the mining industry in Latin, America, Middle East, and Africa (LAMEA) in the upcoming years.

Thus, the use of electric vehicles and robotics is set to surge in mining operations in the years to come, primarily because of the growing requirement for automation in the mining sector and mushrooming demand for advanced technologies and mining techniques all over the world. 

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What are Key Factors Causing Boom of Ultrasound Device Market?

The global ultrasound device market is projected to advance at a considerable rate in the coming years, which is attributed to the surging geriatric population, rising healthcare cost, technological advancements in ultrasound devices, increasing prevalence of chronic and lifestyle associated diseases, and rising demand for minimally invasive diagnostic and therapeutic techniques. Ultrasound devices are utilized for therapeutic and diagnostic applications. In terms of display, the market is bifurcated into colored display and black and white display. The colored display is expected to account for the major share of the market in the near future.

Browse detailed report - Ultrasound Device Market Revenue Estimation and Growth Forecast

When technology is taken into consideration, the ultrasound device market is divided into high-intensity focused ultrasound (HIFU), 2D, extracorporeal shockwave lithotripsy, 3D and 4D, and doppler. Out of these, the 2D division dominated the market in the past and is further predicted to account for the major share of the market in the coming years, as it is the conventional ultrasound scanning technology. The HIFU division is expected to grow at the fastest pace in the coming years. The technology is utilized for treating a single tumor or a part of a large tumor.

The surging prevalence of chronic and lifestyle associated diseases, such as heart disease, diabetes, cancer, respiratory disease, and stroke, is among the major driving factors of the ultrasound device market. In 2012, about 117 million people in the U.S. were suffering from either one or more chronic health conditions, according to the Center for Disease Control and Prevention. In addition to this, cardiovascular diseases are the leading cause of premature death across the world. Attributed to these factors, various developments have taken place in the field of cardiac ultrasound for effective diagnosis and treatment.

Hence, the market is being driven by the growing prevalence of chronic and lifestyle associated diseases and increasing requirement for minimally invasive diagnostic and therapeutic techniques.

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Ballooning Incidence of Chronic Diseases Fueling Global Demand for Protein Expression

 The rising incidence of chronic diseases is pushing up the requirement for protein expression across the world. Viral diseases like HIV/AIDS, hepatitis, cancer, cardiovascular diseases, and chronic obstructive pulmonary diseases (COPD) are the major types of chronic diseases occurring around the world. As per the World Health Organization (WHO), chronic diseases are responsible for 60.0% of all deaths across the world. These diseases need clinical intervention, in which, the adoption of protein expression methods is growing rapidly. 

In simpler terms, it can be said that the number of geriatric people across the world will rise from 901 million to 1.4 billion from 2015 to 2030, as per the estimates of the UNDESA. The increasing life expectancy and falling birth rates are fueling the growth of the geriatric population all over the world. This is propelling the requirement for protein expression, which is, in turn, driving the advancement of the global protein expression market. 

Browse detailed report - Protein Expression Market Analysis and Demand Forecast

There are mainly six types of protein expression systems namely prokaryotic expression systems, mammalian cell expression systems, algal-based expression systems, yeast expression systems, insect cell expression systems, and cell-free expression systems. Out of these, the usage of the prokaryotic expression systems was found to be the highest during the last few years. This was because these systems are more affordable than the mammalian cell expression and insect cell expression systems. 

The large-scale adoption of protein expression in this region was due to the high incidence of chronic diseases, the growth and development of research and development (R&D) infrastructure, the rise in healthcare spending, and the presence of a large geriatric population in the region. In this region, the usage of protein expression was the highest in the U.S. in the past. After North America, the adoption of protein expression was the highest in Europe in the years gone by.

Hence, it is safe to say that the demand for protein expression is predicted to soar all over the world in the coming years, primarily because of the growing prevalence of chronic diseases, the surging population of geriatric people, and rapid technological advancements being made in protein-based research. 

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