How Is Rising Cancer Incidence Driving Photoacoustic Imaging Volume?

 With the increase in the population, the incidence of long-term diseases that have a detrimental effect on the quality of life is also rising. Be it cardiovascular, respiratory, or neurological diseases or cancer, all of them are affecting and killing more people every year. For instance, CVDs kill 17.9 million and cancer 9.6 million people every year, while the annual mortality count of air-pollution-associated lung issues is 7 million, as per the World Health Organization (WHO).

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Due to this, the footfall at healthcare centers, especially their radiology and nuclear medicine departments, is increasing, as early diagnosis is now known to be an important step in holistic medical care. P&S Intelligence says that the rising prevalence of chronic diseases and the resultingly surging volume of medical imaging studies will be the key factors to propel the photoacoustic imaging market from $39.8 million in 2019 to $279.3 million by 2030, at a massive 20.3% CAGR between 2020 and 2030. The photoacoustic technology uses a combination of ultrasound and laser pulses to photograph the insides of the body.

As this is a fairly new technology, it is majorly being used in preclinical studies to test both its own efficacy and safety for humans and that of drugs, mostly cancer drugs, on animals, primarily mice. This imaging technology can produce images that are not possible with conventional radiological and nuclear imaging techniques. For instance, photoacoustic imaging is being used to monitor the speed of the blood flow, measuring tumors’ molecular blood oxygen, photograph the vascular network of tumors, and see the molecular pathology of tumors cells, outside the body. With such advanced applications, this technique has helped in reducing the requirement for sacrificial animals during preclinical cancer studies.

The high cancer count is one of the major reasons North America has been the largest contributor to the photoacoustic imaging market till now. Moreover, the region is a hub for medical research and cancer drug studies, which have driven the demand for photoacoustic imaging systems and software. Apart from North America, the usage of this imaging technology is expected to witness a massive increase in Asia-Pacific (APAC), due to the growing burden of CVDs, respiratory and neurological diseases, and cancer in India, China, and Bangladesh.

Hence, as preclinical studies continue to prove the effectiveness of photoacoustic imaging, its clinical applications will increase in the coming years.

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Rising Road Accident Cases To Augment Topical Scar Treatment Demand

 According to the World Health Organization (WHO), approximately 180,000 deaths are caused due to burns every year. The WHO states that almost two-thirds of these deaths are recorded in the African and Southeast Asian regions. Furthermore, Development Asia, an initiative of the Asian Development Bank (ADB), estimates that 217,148 road accidents were recorded in South Korea in 2018. Similarly, the Transport Department of the Government of the Hong Kong Special Administrative Region states that 15,298 road accidents occurred in Hong Kong in 2020.

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Thus, the increasing prevalence of burns and road accidents in East and Southeast Asia will help the topical scar treatment market advance at a CAGR of 7.7% during 2021–2030. Moreover, the booming aging population and mounting disposable income of the people in the region will aid the revenue from the sale of such products in growing from $701.6 million in 2020 to $1,451.1 million by 2030. For instance, the WHO estimates that around 20.3% of the Southeast Asian population will be 60 years or above by 2050.

Topical products, such as creams, gels, oils, and gel sheets, are used to treat keloid and hypertrophic scars, stretch marks, atrophic and acne scars, and contracture scars. In the recent past, creams were preferred over other products because they fade, flatten, smoothen, and reduce old and new scars. Additionally, the usage of creams prevents the formation of scars. In recent years, people suffering from atrophic and acne scars, which are caused due to hormonal changes and unhealthy eating habits, have emerged as the largest user of creams and related products.

According to P&S Intelligence, China dominated the topical scar treatment market in the recent past, and it is also expected to adopt these products at the highest rate in the foreseeable future. This can be credited to the booming geriatric population and flourishing economy of the country. Additionally, the rising disposable income of people and increasing incidence of skin diseases will fuel the adoption of such products here.

Thus, the growing prevalence of road accidents and burns and the surging geriatric population will create a huge requirement for topical scar treatment products in East and Southeast Asia.

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Why will Sales of Laboratory Information Systems Boom in North America in Future?

The burgeoning requirement for advanced healthcare information systems is one of the major factors fueling the sales of laboratory information systems (LIS) across the world. These systems assist in delivering diagnosis, rehabilitation, and treatment services through one integrated platform. Moreover, these systems save the diagnosis time by streamlining various back-office operations and assist doctors in sharing and discussing treatment plans with their patients. For example, the National Health Service (NHS) and several other local healthcare councils have been operating together since 2016 in order to form a transformation and sustainability partnership that covers the entire U.K.

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Furthermore, the Integrated Healthcare Information System program became hugely successful in as many as four designated areas—Yorkshire, South London, Surrey, and Greater Manchester in May 2020. The soaring need for higher laboratory productivity is also propelling the advancement of the laboratory information system market. As a result, the revenue of the market is expected to surge from $1,756.2 million in 2019 to $3,457.2 million by 2030. The market will also exhibit a CAGR of 6.5% from 2020 to 2030 (forecast period).

This is ascribed to the soaring requirement for LIS interface or integration and delivery systems in various healthcare settings for improved efficiency and a quick adoption of advanced technologies in workflow solutions. Among LIS services and software, the requirement for the latter was found to be higher during the last few years. This was because of the high requirement for laboratory information management software in diagnostic laboratories, research centers, academic institutions, and hospitals. 

Hence, it can be safely said that the demand for LIS will surge sharply in the forthcoming years, primarily because of the rising incidence of chronic diseases and the growing requirement for higher laboratory productivity, advanced healthcare information systems, and more accurate diagnostic tests across the world.

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Why is Worldwide Demand for Vehicle Cameras Surging?

With the burgeoning requirement for video surveillance for road safety purposes, the sales of vehicle cameras are predicted to surge sharply in the coming years. The increasing prevalence of road accident is pushing up the requirement for technologies and systems that can improve vehicle safety. According to the World Health Organization (WHO), around 1.3 million deaths are recorded every year because of road crashes. The organization also reported that road accidents are the leading cause of deaths for young adults aged between 5 and 29 years and children.

Additionally, the sales of vehicle cameras are also being driven by the rapid advancements being made in complementary metal oxide semiconductor (CMOS) image sensors that are incorporated in automotive cameras. Besides, the rising focus of automakers on replacing side view mirrors with cameras and the increasing focus of governments and insurance companies on the incorporation of cameras in automobiles are also fueling the demand for vehicle cameras across the world. Apart from reducing the chances of road accidents and ensuring vehicle safety, these cameras also protect the vehicle from theft, owing to its ability to carry out night video recording. 

Continental AG, KYOCERA Corporation, Ficosa International S.A., Media Data Systems Pte Ltd., Autoliv Inc., Valeo Inc., Transcend Information Inc., Qrontech Co. Ltd., Delphi Automotive LLP, and Robert Bosch GmbH are some of the major players operating in the vehicle camera market. These are basically real video recording devices that are built for recording real-time videos of the insides and outsides of the automobiles. With the soaring manufacturing of passenger cars, the integration of these cameras in passenger cars is set to rise sharply in the coming years, according to the estimates of the market research company, P&S Intelligence.

These cameras are also expected to be extensively used in light commercial vehicles in the coming years. In North America, the sales of these vehicles are shooting up, owing to the rising focus on the New Car Assessment Program in the region. Furthermore, the rapid advancements in several driver safety and assistance systems, such as blind spot detection systems (BSD) and lane departure warning systems (LDWS), are also propelling the demand for vehicle cameras across the world. The computer-powered blind spot detection systems use the digital camera imaging technology for sensing the presence of cars in blind zones, thereby reducing the chances of accidents.

Hence, the demand for vehicle cameras is predicted to soar rapidly in the forthcoming years, mainly because of the growing requirement for greater vehicle safety and the increasing implementation of government policies aimed at improving road safety in several countries. 

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Surging Demand for Exotic Vegetables Driving Agricultural Ventilation Fans Market Growth

The global agricultural ventilation fans market generated ~$600 million revenue in 2020 and it is expected to exhibit huge expansion during 2021–2030 (forecast period). The burgeoning requirement for exotic fruits, flowers, and vegetables, increasing indoor farming practices, and soaring use of urban agriculture practices, owing to the mushrooming demand for food items and changing climatic conditions, are the major factors driving the expansion of the market across the globe.

With surging population and rapid urbanization, the availability of fertile land is falling sharply, thereby fueling the requirement for urban farming methods that can enable the efficient and judicious use of the available land. Additionally, urban agriculture massively increases food security, as large volumes of organic food items can be grown easily. As ventilation fans are used for providing a controlled environment, which is required in indoor farming processes, the growing popularity of urban farming practices is pushing up the requirement for agricultural ventilation fans.

Apart from the aforementioned factor, the increasing production of genetically modified (GM) crops is also driving the growth of the agricultural ventilation fans market. Depending on product, the market is divided into duct fans, portable fans, exhaust fans, and circulation fans. Amongst these, the exhaust fans category is predicted to exhibit the fastest growth in the market throughout the forecast period. These fans are used for eliminating exhalations of the livestock and odor from the interior of an enclosure. 

Furthermore, the surging use of urban agriculture practices, owing to the changing climatic conditions, will also propel the market growth in the region in the coming years. In recent years, the players operating in the agricultural ventilation fans market have actively focused on collaborations and partnerships in order to penetrate untapped markets. For example, QC Supply launched a partnership with Advanced Feeding Systems in March 2018 for strengthening its distribution channel by serving customers in four new areas in the U.S. (Indiana, Illinois, Tennessee, and Kentucky). 

Hence, it is safe to say that the market will progress rapidly in the coming years, mainly because of the growing adoption of urban agriculture practices and production of GM crops across the world.

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Increasing Construction Activities Driving Non-Destructive Testing and Inspection Market Growth

The global NDT and inspection market revenue stood at $9 billion in 2020 and the market is predicted to demonstrate rapid advancement in the coming years. The enactment of strict government regulations and policies regarding public safety and product quality and the increasing construction and infrastructure development activities, owing to the rising urbanization rate, especially in emerging economies, are some of the major factors fueling the expansion of the market across the world.

Economies, such as Mexico, Brazil, and China currently account for the majority of the construction spending across the world. Many construction projects, including those launched for major upcoming sporting events, hotels, shopping complexes, and skyscrapers, are presently underway in these nations. For example, the hospitality sector in the APAC region recorded a growth of 12% in construction pipeline from 2017 to 2018. Moreover, the region, excluding China, has 1,673 hotel construction projects currently in the pipeline.

As non-destructive testing and inspection can detect and aid in the repair of corrosion and cracks before any accident occurs and thus, prevent a road or bridge closure or a catastrophic failure, they are being increasingly adopted at construction sites. Moreover, structural health monitoring and infrastructure inspection are widely preformed after construction activities in order to ensure quality and safety. Depending on offering, the NDT and inspection market is classified into services and equipment. Between these, the services category dominated the market in 2020.

Geographically, the Asia-Pacific (APAC) region will be the fastest growing region in the non-destructive testing and inspection market in the upcoming years, as per the estimates of the market research firm, P&S Intelligence. This is credited to the rapid infrastructure development in various developing countries, such as China and India. Additionally, the expansion of the aerospace and defense and oil and gas industries in the region is boosting the requirement for these testing methods, as they are increasingly being required for guaranteeing the safety of employees and the efficiency of the devices that are used at the site. 

Therefore, the market is set to exhibit rapid advancement in the coming years, primarily because of the surging construction and infrastructure development activities, especially in developing countries, implementation of strict safety regulations by the governments of many countries, and the burgeoning requirement for efficient and effective testing and inspection methods across the world.

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International Air Pollution Mitigation Laws Driving Low-Emission Vehicle Demand

The United Nations Economic Commission for Europe (UNECE) states that air pollution has a detrimental impact on all aspects of human life and climatic conditions. Air pollution harms human health, obstructs economic development, affects food security, facilitates climate change, and deteriorates the environment, upon which the livelihood of every individual depends. To mitigate its levels, the UNECE Convention on Long-range Transboundary Air Pollution is focusing on the implementation of protocols such as the Gothenburg Protocol to Abate Acidification, Eutrophication and Ground-level Ozone, in Eastern Europe, South-Eastern Europe, Central Asia, and the Caucus.

In the same vein, the World Health Organization (WHO) monitors the progress on health indicators to track the progress in achieving sustainable development goals (SDGs) 3,7, and 11. The SDG target 3.9.1 calls for a notable reduction in air-pollution-related illnesses and deaths. Similarly, the SDG target 11.6.2 aims to decrease the environmental impact of cities by improving the air quality. The surging global focus on reducing air pollution will, therefore, help the low-emission vehicle market grow in the foreseeable future, as vehicular pollution is a major cause of climate change.

Low Emission Vehicle Market - P&S Intelligence 

Moreover, the increasing developments in the battery technology will steer people toward low-emission vehicles in the foreseeable future. Automotive original equipment manufacturers (OEMs) and auto component firms are constantly working toward developing efficient and eco-friendly batteries to improve the life of pure electric vehicles (EVs), plug-in hybrid electric vehicles (PHEVs), mild HEVs, and full HEVs. These automobiles contain nickel–metal hydride, lithium-ion (Li-ion), metal hydride, lead–acid, and nickel–cadmium batteries.

Currently, companies operating in the low-emission vehicle market, such as Bayerische Motoren Werke AG, Mitsubishi Motors Corporation, Nissan Motor Co. Ltd., Toyota Motor Corporation, Honeywell International Inc., and Volkswagen AG, are focusing on research and development (R&D) activities for fuel-efficient vehicles. For instance, the automotive industry is producing lightweight vehicles in large numbers to meet the burgeoning demand for fuel efficiency, owing to the low fuel requirement of such vehicles.

Thus, the rising global focus on mitigating air pollution, increasing implementation of emission norms, and strengthening EV charging infrastructure are encouraging the adoption of low-emission vehicles.

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