Saudi Arabia Color Cosmetics Market To Generate $1,197.2 Million Revenue by 2030

Factors such as the escalating disposable income of people, surging public awareness about physical appearance, booming population of working women, burgeoning demand for organic color cosmetics, and mounting investments being made by players in marketing and advertising initiatives are expected to drive the Saudi Arabian color cosmetics market at a CAGR of 7.1% during 2020–2030. The market was valued at $603.6 million in 2020 and it is projected to generate $1,197.2 million revenue by 2030.

The booming population of working females is one of the key factors propelling the demand for color cosmetics in Saudi Arabia. According to the General Authority for Statistics, Labor Force Survey data, the labor force participation rate of the total female working population increased from 32.1% in the fourth quarter of 2020 to 33.6% in the first quarter of 2021. As more women are stepping out of their homes, they are becoming more aware of personal care products, owing to which they are generating extensive demand for improved color cosmetic products.

Currently, the Saudi Arabian color cosmetics market is fragmented in nature due to the presence of numerous players. At present, market players are engaging in mergers and acquisitions to consolidate their position. For example, in July 2021, Sephora SA acquired Feelunique.com from Palamon Capital Partners, a U.K.-based online retail company for premium beauty products. This online retailer has over 1.3 million active customers across 120 countries, including Saudi Arabia, and has over 35,000 products from more than 800 brands.

According to P&S Intelligence, the western region is expected to account for the largest share in the Saudi Arabian color cosmetics market in the coming years. The market in the region is also projected to demonstrate the fastest growth during the forecast period. This can be ascribed to the accelerating urbanization rate and escalating disposable income of people in this part of the country. The burgeoning demand for color cosmetics from the region is being met by L'Oréal S.A., Coty Inc., The Estée Lauder Companies Inc., Shiseido Co. Ltd., Unilever Group, Oriflame Holding AG, The Procter & Gamble Company, and others.

Therefore, the burgeoning population of working women and the increasing availability of improved products will augment the demand for color cosmetics in Saudi Arabia.

Read More

Why Is Automotive Industry Using Plastics in Vehicles?

The International Organization of Motor Vehicle Manufacturers (OICA) recorded that a total of 21,787,126 commercial vehicles and 55,834,456 cars were manufactured in 2020. The manufacturers of these vehicles are increasingly shifting from heavy metals to lightweight plastics for vehicle interiors, to reduce the overall vehicle weight. The reduction of the vehicle weight helps in enhancing the fuel efficiency. With the rising awareness on the alarming air pollution levels and depleting fossil fuel reserves, customers are increasingly opting for lightweight vehicles.

Thus, the booming demand for lightweight vehicles will add to the prosperity of the automotive plastics market in the foreseeable future. Automakers use polybutylene terephthalate, polyurethane, polypropylene, acrylonitrile butadiene styrene, polyvinyl chloride, polycarbonate, high-density polyethylene, and polyamide to reduce the automobile weight. In the coming years, automobile manufacturers will adopt a significant volume of polypropylene due to the high durability, excellent flexibility, and exceptional abrasion resistance exhibited by it.

Automotive Plastics Market - P&S Intelligence 

Automakers across the world are procuring plastics from Covestro AG, Magna International Inc., Lear Corporation, Adient plc, SABIC, Borealis AG, BASF SE, Quadrant AG, Teijin Limited, Akzo Nobel N.V., Evonik Industries, and Hanwha Azdel Inc. These companies use three major techniques to produce these materials: injection molding, thermoforming, and blow molding. The rapid advancements in vehicle designing, owing to the evolving needs of customers and growing preference and transition toward aesthetically appealing vehicle interiors, are creating a huge requirement for automotive plastics worldwide.

According to P&S Intelligence, the Asia-Pacific (APAC) automotive plastics market is expected to advance at the highest rate in the upcoming years, owing to the presence of a vast manufacturing base in India, China, Thailand, Indonesia, and South Korea and the availability of affordable transportation options and cheap raw material in China. Additionally, the increasing focus of automobile manufacturers on shifting their production base from North America and Europe to Thailand, Vietnam, and China, owing to the availability of low-cost labor in such countries, accelerates the production and consumption of automotive plastics here.

Thus, the burgeoning demand for lightweight vehicles and increasing customer preference for aesthetically appealing vehicle interiors will fuel the consumption of plastics for auto production across the world.  

Read More

North America ISOs Medical Device and Equipment Maintenance and Calibration Services Market To Reach $3,612.9 Million by 2030

Factors such as the enhancements in the medical device industry, stringent regulatory norms, and high awareness on preventive medical equipment maintenance will drive the North American independent service organizations (ISOs) medical device and equipment maintenance and calibration services market at an 8.9% CAGR during the forecast period (2021–2030). The market accounted for a $1,468.8-million size in 2019, and it is expected to reach $3,612.9 million by 2030. Currently, the market is witnessing the trend of the adoption of comprehensive contracts among the medical centers in the region.

North America ISOs Medical Device and Equipment Maintenance and Calibration Services Market Revenue Estimation and Forecast

Additionally, the increasing awareness regarding preventive medical equipment maintenance will boost the North American ISOs medical device and equipment maintenance and calibration services market in the future. Medical devices, such as ultrasound systems, X-ray systems, and endoscopes, are used in several clinical applications. These systems require proper and constant maintenance to increase their lifespan. In addition, maintenance and calibration aid in preventing infections due to the usage of such devices on multiple patients. To avoid any unprecedented situation, healthcare facilities are increasingly focusing on the cleanliness of medical equipment and devices.

The automation segment of the North American ISOs medical device and equipment maintenance and calibration services market is bifurcated into automated devices and manual devices. Of these, the automated devices category accounted for the larger market share in 2019, and it is expected to hold its dominance in the forecast years. This can be attributed to the amplifying financial support from the government for medical automation, increasing technological innovations in automation solutions, and fueling need for the accuracy and reproducibility of medical devices and equipment.

Therefore, with the strict government regulations and growing awareness regarding preventive medical equipment maintenance, the market will boom at a high rate in the coming years.

Read More

How Are Modern Technologies Improving Regenerative Medicine?

 The World Health Organization (WHO) estimates that non-communicable diseases (NCDs), such as cardiovascular diseases (CVDs), cancer, diabetes, and respiratory diseases, account for around 71% of global deaths, annually. As per the organization, CVDs, cancer, respiratory diseases, and diabetes cause 17.9 million, 9.3 million, 4.1 million, and 1.5 million human deaths, respectively, each year. Furthermore, the United Nations (UN) states that approximately 3,000–5,000 children are born with chromosome disorder, globally. Thus, the surging prevalence of chronic ailments and genetic disorders is creating a huge requirement for regenerative medicines, worldwide.

Browse Details Regenerative Medicine Market: Emerging Technologies and Global Markets Outlook

Moreover, the rising technological advancements in the medical industry will also help the regenerative medicine market progress at a healthy CAGR, of 16.3%, during 2020–2030. According to P&S Intelligence, the market was valued at $8,186.9 million in 2019 and it is expected to generate $39,012.0 million revenue by 2030. Major biotech and pharma companies are making hefty investments in technological developments to provide more effective gene therapies. The advent of 3D bioprinting is one of the prime examples of technological advancements in regenerative medicine. 

Stem and somatic cell therapies, viral and non-viral gene therapies, and cell-based tissue engineered products are being offered by Smith & Nephew plc, Allergan plc, Integra LifeSciences Holdings Corporation, Organogenesis Holdings Inc., Stryker Corporation, Takeda Pharmaceutical Company Limited, Novartis AG, Vericel Corporation, and Amgen Inc. for patients suffering from chronic ailments and genetic disorders. In the coming years, cell therapy will be adopted at the highest rate due to the soaring number of clinical trials including several cell therapy techniques. 

Geographically, North America led the regenerative medicine market in the recent past, and it is also expected to maintain its position in the foreseeable future. This can be owed to the increasing advancements in the field of tissue engineering, rising number of stem cell banks, escalating healthcare spending, and surging reliance on stem cell therapy for chronic disease treatment. Whereas, Asia-Pacific (APAC) will adopt regenerative medicines at the highest rate in the upcoming years, due to the rising prevalence of chronic diseases, flourishing medical tourism industry, and escalating public and private funding in research organizations.  

Read More

Agricultural Biotechnology Market to Grow Significantly because of Rising Demand for Transgenic Seeds

The world’s population has grown constantly since the age of human beings began; for example, in 1800 the population across the globe was under 1 billion, which has now, almost dramatically, risen to 7.7 billion. With this surging population, the need for enhancing the productivity of everything, for catering to the requirements of the people, has increased as well. This includes the productivity in agricultural fields, of course. In the old days, the only concern of people was to somehow grow enough food for their survival, and while survival is the major concern today as well, the priorities of the human race seem to have shifted.

Growth Opportunities and Latest Trends in Agricultural Biotechnology Market

Farming used to be the primary occupation in the past, but since the advent of industries and machines, the agricultural sector has somewhat been neglected. At the present time, however, there is a pressing need for increasing the agricultural productivity, which is why a number of technological advancements have occurred in the agricultural sector. One of such developments is the emergence of agricultural biotechnology, which involves the utilization of science for modifying animals and plants. This is done to breed out undesirable characteristics, such as low productivity and susceptibility to diseases. Furthermore, any beneficial traits can be bred in by making use of a gene which contains the specific characteristic.

Crop protection products, including biostimulants and biopesticides, and transgenic seeds, including fruits and vegetables, cotton, soybean, and maize, are produced using the above-mentioned technologies. The demand for transgenic soybeans was the highest in the past, because of the increasing import and export of this crop type around the world. Besides this, the need for crop protection products is expected to increase significantly in the near future, owing to the importance of protecting plants from any kind of harmful chemicals, weeds or pests.

North America was the largest agricultural biotechnology market in the past, which is ascribed to the growing adoption of genetically modified crops in the U.S. In addition to this, as per reports by the International Service for the Acquisition of Agri-Biotech Applications in 2016, a considerable increase was registered in the hectares of land being used for biotechnology crops in the predominantly industrial countries. Canada and the U.S. were among the key contributors to this, because of the rise in the cultivation of genetically modified crops. The reasons for the rising adoption of genetically modified crops in the U.S. include advantages such as higher crop yields, decrease in the application of pesticides, and higher returns from farming operations.

Read More

What are Major Factors Driving Growth of Cleanroom Technology Market?

One of the biggest factors responsible for the increasing use of cleanrooms is the rapid development of high-efficiency particulate air (HEPA) filters. The technological advancements in HEPA filters have enhanced their ability to absorb nano-toxic particles, which has, in turn, made the maintenance of the required environment inside the cleanrooms more efficient. These technological advancements are expected to increase the adoption of cleanrooms in various industries, such as biotechnology, medical, and pharmaceuticals. 

Browse In-depth Cleanroom Technology Market Companies’ Strategic Developments

Due to the above-mentioned factors, the global cleanroom technology market is expected to expand considerably in the coming years. Cleanroom solutions are widely used in pharmaceutical, medical device, and biotechnology industries and in hospitals, research laboratories, and academic institutions. Amongst these, the pharmaceutical industry registered the highest adoption of cleanrooms, for the manufacturing of drugs, in the past. Various types of cleanrooms are installed in such settings, such as standard cleanrooms, softwall cleanrooms, pass-through cabinets, and hardwall cleanrooms. Amongst these, hardwall cleanrooms are expected to observe the highest demand in future, as they are cost-effective and easier to integrate. 

The cleanroom technology market is currently witnessing the rising popularity of modular cleanrooms across the world. The modular cleanrooms, on account of their easier installation processes, lower installation costs, and shorter manufacturing times as compared to the conventionally used cleanrooms, are observing a huge surge in demand. In addition to this, the modular cleanrooms allow for easier regulation of the airflow, which contributes to their rising popularity in the medical, pharmaceutical, and research industries.

Geographically, the highest usage of the cleanroom technology was observed in North America in the past. The three countries in the world that are expected to register the highest demand for cleanroom technology solutions in the coming years are Japan, Germany, and the U.S. This is mainly attributed to the soaring healthcare expenditure and the increasing number of research laboratories in these countries. On a regional basis, the Asia-Pacific (APAC) region is expected to record the fastest growth in the adoption of cleanroom technology in future. 

Therefore, it can be concluded that due to the burgeoning demand for a clean and contamination-free environment for the manufacturing of pharmaceutical products and medical devices and in the research and development process for drugs, the adoption of the cleanroom technology is expected to witness tremendous growth in the coming years.

Read More

Increasing Occurrence of Breast Cancer Driving Breast Biopsy Devices Market Growth

The global breast biopsy devices market generated a revenue of $761.2 million in 2017 and it is predicted to reach a value of $1,426.2 million by 2023. According to the estimates of P&S Intelligence, a market research company based in India, the market will advance at a CAGR of 11.1% from 2018 to 2023. The increasing prevalence of breast cancer, surging number of breast cancer screening programs, rapid technological advancements being made in breast imaging equipment, mushrooming population of geriatric women, and burgeoning requirement for minimally invasive procedures are the major factors driving the market expansion.

Furthermore, both under-developed and developing countries reported several cases of breast cancer, accounting for around 53% of the cases across the world. The growing incidence of this disease is one of the major growth drivers of the breast biopsy devices market. Besides, the rapid technological advancements being made in breast imaging devices such as the development of ultrasound- and mammography-guided biopsy, core-needle biopsy, excisional breast biopsy, and fine-needle aspiration biopsy are also fueling the growth of the market. 

Based on product, the market is divided into guidance systems, biopsy needles/guns, biopsy wires, and biopsy tables category. Out of these, the biopsy needles or guns category is predicted to exhibit the fastest growth in the market in the forthcoming years. In addition to this, this category is also expected to hold the largest share in the market in the upcoming years. When procedure type is taken into consideration, the breast biopsy devices market is categorized into vacuum-assisted, core-needle, surgical, and fine-needle aspiration.

Out of these, the vacuum-assisted biopsy category dominated the market in 2017, owing to the large-scale adoption of this procedure, on account of its ability to accurately locate the abnormality area, so that only a few samples from the infected region are taken. This category is also expected to demonstrate the fastest growth in the market in the years to come. Geographically, Europe and North America led the breast biopsy devices market in 2017.

The U.S. recorded huge sales of breast biopsy devices during the last few years, primarily because of the surging geriatric population, rising incidence of breast cancer, rapid economic growth, booming private healthcare sector, and high healthcare expenditure of the country. In addition to this, many biotechnology and pharmaceutical companies, federal agencies, public health associations, research institutes, local and state governments, and professional societies are making huge investments in country’s health-related research and development (R&D) and medical programs. 

Access Report Summary - Breast Biopsy Devices Market Growth

Read More