Vascular Imaging System Sales Predicted to Explode in Asia-Pacific in Near Future

 With the surge in the incidence of cancer and cardiovascular diseases, the demand for vascular imaging systems is growing rapidly across the world. As per the International Agency for Research on Cancer (IARC), which is a specialized cancer research promoting agency of the World Health Organization (WHO), 12.7 million patients were diagnosed with cancer around the world in 2008 and this number is predicted to grow to 21.4 million by 2030. 

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Additionally, as per the WHO, cancer claimed the lives of 8.2 million people all over the world in 2012. Out of these, lung cancer was responsible for the deaths of 1.6 million people, while liver cancer and esophageal cancer claimed the lives of 745,000 and 400,000 people, respectively, across the world in 2012. Apart from this growing prevalence of cancer, the surging healthcare expenditure in several countries is also positively impacting the demand for vascular imaging systems globally.

Computed tomography (CT), X-ray, MRI (magnetic resonance imaging), nuclear imaging, and ultrasound are the major types of vascular imaging systems used globally. Out of these, the demand for CT systems was the highest in the past. This was because CT-based procedures involve larger amounts of radiation doses than the conventionally used X ray-based imaging systems. As per the Conference of Radiation Control Program Directors, Inc. (CRCPD), in the U.S., nearly 62 million CT-based procedures are performed annually. 

Globally, the sales of vascular imaging systems were the highest in North America in the past, as per the observations of P&S Intelligence, a market research company based in India. This was because of the huge public awareness about various imaging techniques in the region. The vascular imaging systems market is predicted to register the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years, due to the growing incidence of cardiovascular diseases and cancer in the region.

Thus, it can be said without any hesitation that the demand for vascular imaging systems will soar all over the world in the coming years, primarily because of the rising incidence of cardiovascular diseases and cancer and the surging population of geriatric people in several countries. 

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Disposable Medical Sensors Market Boom to be Led by Asia-Pacific and North America

The global population will increase from 7.7 billion currently to 9.7 billion by 2050, says the United Nations Department for Economic and Social Affairs (UNDESA), in its latest World Population Prospects report. With this, the hold of various chronic and acute diseases on the world is rising, as is of all other issues that can take someone to a doctor. With the growing demand for medical services, the number of hospitals and other healthcare settings is increasing. This is resulting in the surging requirement of various devices, instruments, and systems used at such places, as well as the individual components which make up such stuff, including sensors.

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Therefore, with the rising demand for healthcare, the disposable medical sensors market is advancing around the world. Accelerometers, biosensors, temperature sensors, pressure sensors, image sensors, and several other kinds of sensors are used in medical settings. Among these, the usage of image sensors is expected to increase the fastest in the years to come, because of the burgeoning adoption of complementary metal-oxide semiconductor (CMOS) image sensors with integrated functionality and high-performance attributes.

Due to their wide usage in such diagnostic devices, strip sensors witness the highest demand among all types of sensors, which also include wearable, implantable, invasive, and ingestible sensors. The major reason behind the usage of strip sensors for diagnostic applications is that they carry almost no chance of infections, offer fast results, and are extremely easy to use. Even the elderly can use them on their own, for instance, to test their blood sugar level, for calculating the units of insulin required. In the coming years, the demand for ingestible sensors will witness the sharpest rise, owing to the increasing preference for remote diagnostic imaging and patient monitoring services.

Across the globe, North America procures disposable medical sensors in the highest number, due to the growing investments on research and development (R&D) and rising geriatric population. Additionally, the incidence of HAIs is quite high here, with the Centers for Disease Control and Prevention (CDC) saying that every day, of every 31 hospital patients, one suffers from an HAI. In years to come, the disposable medical sensors market will grow the fastest in Asia-Pacific (APAC), with the rising chronic disease prevalence and geriatric population, R&D funding, and government initiatives.

Hence, as more medical settings are constructed to cater to the mushrooming patient pool, the same of disposable medical sensors will increase too.

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Oncology Department Using Transradial Access Devices for Cancer Patients

 The World Health Organization (WHO) defines cardiovascular diseases (CVDs) as a group of heart and blood vessel disorders that include coronary heart disease, cerebrovascular disease, peripheral arterial disease, rheumatic heart disease, congenital heart disease, and deep vein thrombosis and pulmonary embolism. According to the WHO, around 17.9 million human lives were lost due to CVDs in 2019, accounting for nearly 32% of all global deaths. The increasing prevalence of such heart-related diseases is, therefore, creating a huge requirement for transradial access devices, owing to the low cost and favorable clinical outcomes offered by them.

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Moreover, the surging incidence of cancer will also help the transradial access devices market showcase a CAGR of 8.4% during 2018–2023. The market revenue is expected to rise from $14.9 billion in 2017 to $24.1 billion by 2023. As per the International Agency for Research on Cancer (IARC), 19.3 million cancer cases were recorded in 2020. Furthermore, IARC estimates that 10 million global deaths were caused due to cancer in the same year. Several studies are being conducted to determine the benefits of the transradial approach for transarterial chemoembolization for cancer.

Additionally, transradial access device manufacturers are heavily investing in research and development (R&D) for improving their products and developing technology for reducing fluoroscopy time and minimizing radiation exposure. Furthermore, R&D initiatives also aim to develop novel technologies to minimize radial artery injury and occlusion. Advanced devices being developed by such manufacturers will be beneficial for morbidly obese patients, geriatric patients, individuals suffering from critical vascular diseases, and people on oral anticoagulation living with a high risk of vascular access site bleeding. 

According to P&S Intelligence, Europe led the transradial access devices market in the preceding years, due to the rising prevalence of CVDs, surging cases of cancer, and increasing acceptance of transradial intervention (TRI) as a default strategy for percutaneous coronary intervention (PCI), in the region. Additionally, the soaring number of outpatient clinics offering same-day discharge by catheterization laboratory performing TRI will also fuel the adoption of such medical devices in Europe. 

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How Is Rapid Urbanization Fueling Domestic Pump Demand?

According to the United Nations Conference on Trade and Development (UNCTAD), nearly 55.7% of the global population resided in urban areas in 2019. The UNCTAD also estimates that in 2019, around 80.5% of people in developed countries and nearly 51.1% of the people in emerging economies resided in cities and townships. Furthermore, the United Nations Department of Economic and Social Affairs (UNDESA) forecasts that approximately 68% of the world’s population will live in urban localities by 2050. The surging city population will boost the adoption of domestic pumps owing to the large-scale construction of housing units.

Moreover, the depleting groundwater level on account of the mounting world population will help the domestic pump market progress at a CAGR of 2.8% during 2020–2030. The market revenue stood at $2,912.9 million in 2020, and it will reach $3,832.0 million by 2030. According to the United Nations Water 2021 report (UN-Water 2021), approximately 2.3 billion people reside in water-stressed countries. Of these, around 733 million live in highly and critically water-stressed countries.

In the coming years, centrifugal pumps will be deployed at the highest rate owing to their low costs, wide application base, and high efficiency while pumping low-viscosity fluids, such as water. At present, domestic pump manufacturers are focusing on the integration of artificial intelligence (AI) in their operational processes to improve service delivery. These pumps are being manufactured by Grundfos Holding A/S, KSB SE & Co. KGaA, Ebara Corporation, Xylem Inc., Wilo SE, and Sulzer Ltd. 

According to P&S Intelligence, Asia-Pacific (APAC) dominated the domestic pump market in the recent past due to its vast population and the large number of ongoing housing projects to accommodate them. The Association of Southeast Asian Nations+6 (ASEAN+6) Population Forecast estimates that the population of ASEAN members will reach around 717 million by 2030 and nearly 741 million by 2035. Moreover, the availability of electricity for operating domestic pumps will augment their usage in the region in the upcoming years.

Thus, the burgeoning world population and lowering groundwater levels will amplify the deployment of water pumps for residential purposes.

Read more: https://www.psmarketresearch.com/market-analysis/domestic-pump-market

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Why Has COVID-19 Pandemic Boosted Demand for Non-Woven Adhesives?

Beginning in December of 2019, the COVID-19 pandemic continues to spread, though at a much lower rate than initially. Still, the rising patient count and warmings about the impending third wave led by the Delta variant are putting immense pressure on the healthcare fraternity. As a result, the demand for everyday medical supplies, including surgical masks and gowns, is increasing around the world. This, in turn, is leading to the surging requirement for non-woven fabrics, as they form the basis of such garments.

According to P&S Intelligence, the COVID-19 pandemic will, therefore, be key in propelling the non-woven adhesives market value from ~$2 billion in 2020 at a considerable pace between 2021 and 2030. These materials are used on non-woven fabrics, which are themselves utilized in high amounts in various industries, including the medical sector. The advantages of such fabrics include higher strength per unit mass, high uniformity, stability in high temperatures, and ability to be converted into composites.

In this regard, apart from the current pandemic, the rising prevalence of all other acute and chronic diseases and other medical issues, such as physical injuries, is driving the demand for non-woven adhesives. With the healthcare industry set to value more than $10 trillion by 2022, the demand for all kinds of medical supplies will surge due to the increasing hospitalization rate and surgery and diagnosis volume. Masks and gowns are indispensable during surgery, which creates a high demand for non-woven fabrics and the adhesives used on them.

Asia-Pacific (APAC) has been the largest non-woven adhesives market for some time now because of its high-volume manufacturing of end products, such as surgical masks and gowns, sanitary pads, and diapers. With the improving living standards in developing countries, such as China, Indonesia, India, Taiwan, and Malaysia, the requirement for such products is increasing. Moreover, awareness of such hygiene products is being raised, and efforts are being made to better the access to them in the region. For instance, in a campaign in 2021, started in observance of the World Menstrual Health Day, 50,000 sanitary napkins were distributed in India.

Hence, with the growth in the healthcare sector and basic hygiene awareness, the consumption of non-woven adhesives will rise.

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How Are Fuel Additives Helping in Mitigating Air Pollution?

Fuel additives are used to lower the level of emissions, control engine deposits, improve the octane and cetane numbers, and enhance the flow of the fuel. Some of the additives are also used as corrosion inhibitors, decrease the friction between the walls of the engine and fuel molecules, and prevent the freezing of the fuel in cold countries. Owing to the advantageous features of such chemicals, they are being increasingly added to gasoline, diesel, marine fuels, and aviation fuels.

Essentially, the burgeoning need for cleaner fuels, owing to the rising enforcement of stringent environmental laws to reduce the concentration of greenhouse gases (GHGs), will help the fuel additives market progress at a CAGR of 4.9% during 2021–2030. The market revenue stood at $5,032.7 million in 2020, and it is projected to reach $7,990.6 million by 2030. For instance, the United Nations Environmental Protection Agency (EPA) mandates the registration of all diesel- and gasoline-powered motor vehicle fuel additives, under the 40CFR 79 regulations.

In recent years, fuel additive manufacturers have focused on acquisitions and partnerships to expand their clientele. For instance, in May 2020, The Lubrizol Corporation joined the 'Getting to Zero Coalition', a group endorsed by 14 governments, to offer low- or zero-carbon fuels. Furthermore, in July 2020, Clariant International Ltd. entered into a partnership with Ineratec GmbH, an energy solution and equipment manufacturer, to offer renewable chemicals and fuels. With this partnership, the former also aims to enhance its operations.

According to P&S Intelligence, the Asia-Pacific (APAC) region led the fuel additives market in the preceding years, and it is expected to retain its dominance in the upcoming years. This can be primarily ascribed to the expanding petrochemical industry in the region. Among APAC nations, China consumes the highest volume of fuel additives due to the flourishing automotive industry and rising research and development (R&D) in such products in the country.

Thus, the booming demand for cleaner fuels on account of the implementation of emission norms will amplify the usage of fuel additives globally.

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Why will Oxygen-Free Copper Market Surge in Asia-Pacific in Upcoming Years?

Due to the surging utilization of oxygen-free copper wires in the electronics and electrical industry and electric vehicles (EVs), on account of their high thermal and electrical conductivity, ease of welding, good creep resistance, high impact strength, and high ductility, the global oxygen-free copper market is predicted to exhibit rapid expansion during 2021–2030. Furthermore, as per the estimates of the market research company, P&S Intelligence, the market revenue surged to $20.0 billion in 2020.

The soaring sales of electric vehicles are propelling the expansion of the market across the world. As oxygen-free copper has low thermal and electrical resistance, it is being increasingly used in the manufacturing of EVs including plug-in hybrid electric vehicles (PHEVs). Additionally, in order to reduce the carbonization level in the automotive industry and mitigate the emission of greenhouse gases, automobile manufacturers such as BMW AG, Tesla Inc., and Hyundai Motor Company are actively focusing on manufacturing EVs, thereby fueling the growth of the oxygen-free copper market.

Geographically, the Asia-Pacific (APAC) region contributed the highest revenue to the oxygen-free copper market in 2020, and it is predicted to retain its market dominance during the forecast period as well. This is ascribed to the availability of raw materials and cheap labor in the region, which massively reduces the production costs of various materials, and the soaring deployment of electric vehicles, on account of the increasing concerns being raised over the escalating greenhouse gas emissions in the region. 

Thus, owing to the growing requirement for oxygen-free copper in the electrical and electronics industry and the mushrooming deployment of electric vehicles, the market will register substantial growth all over the world in the upcoming years. 

Market Size Breakdown by Segments

Based on Grade

• Oxygen-Free
• Oxygen-Free Electronic

Based on Product

• Wires
• Strips
• Busbars
• Rods

Based on End user

• Electrical and Electronics
• Automotive

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa

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