Increasing Incidence of HIV/AIDS Driving Demand for HIV Diagnosis

The rising incidence of HIV/AIDS is one of the major factors responsible for the mushrooming demand for HIV diagnosis solutions. As per the data released by the Joint United Nations Programme on HIV/AIDS (UNAIDS), the incidence of AIDS surged by 2.8 million from 2011 to 2015 and reached around 36.7 million HIV positive people around the world in 2015. The increasing occurrence rate of this diseases means that more people are taking the HIV/AIDS diagnostic tests, which is fueling the expansion of the global HIV diagnosis market. 

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Furthermore, the growing public awareness about blood transfusions and blood donations, on account of the increasing implementation of various supportive initiatives by several government associations and organizations, is also propelling the requirement for HIV diagnostic tests. The World Health Organization (WHO), the American Association of Blood Banks (AABB), American Red Cross, and the International Federation of Red Cross and Red Crescent Societies (IFRC) are some of the major organizations that have actively supported various blood donor programs and encouraged the donation of blood and blood components.

Moreover, these organizations have launched initiatives for raising public awareness about blood donations, thereby resulting in a sharp rise in blood collections via voluntary donation. As per the WHO, there were around 92 million blood donations in 2011 and the number increased to 108 million in 2014. During blood transfusion, the compromised utilization of sterilized needles augments the risk of HIV. Moreover, the development of point-of-care kits and instruments for the diagnosis of HIV infections has caused a massive rise in the diagnosis rate of people suffering from HIV because of their various advantages over the conventional laboratory testing method. 

Hence, it can be said with surety that the demand for HIV diagnostic tests will surge in the coming years, mainly because of the growing prevalence of HIV, soaring healthcare expenditure, increasing number of blood donations and transfusions, and rising public awareness about HIV diagnosis procedures across the world. 

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Why Are Physiotherapists in Latin America Recommending Orthopedic Garments, Soft Goods, and Braces?

Around 20.4% people in Latin America (LATAM) suffer from osteoarthritis, the Community Oriented Program for the Control of Rheumatic Diseases (COPCORD) estimates. Similarly, the incidence of road accidents and sports injuries is also rising in the region, with the increasing number of automobiles on the roads and more people opting for outdoor sports. For instance, according to the World Health Organization (WHO), per every 100,000 people, 24.8% in Ecuador and 21.5% in Colombia died in road crashes in 2018.

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P&S Intelligence says that on account of these factors, the LATAM orthopedic garments market size will increase to $376.3 million by 2030 from $223.1 million in 2019, at a 5.2% CAGR between 2020 and 2030. Similarly, the LATAM orthopedic soft goods and braces market is expected to display a 4.9% CAGR between 2020 and 2030, to grow from $177.4 million in 2019 to $291.1 million by 2030. All such products are useful in the physical rehabilitation of people with orthopedic and other musculoskeletal issues after a major injury, accident, or surgery.

As LATAM is predominantly a developing region, raising awareness about orthopedic diseases and treatment options is important. This is why many public and private organizations are hosting campaigns and seminars to educate people about muscle-and-bone-related issues and how they can be managed and treated. For instance, the International Orthopedic and Traumatology Association (IOTA) had planned to host the Mexican Federation of Associations of Traumatology and Orthopedics 31st National Congress 2020 in October, to spread awareness about the ways to manage and treat orthopedic and traumatic injuries.

Among the several types of orthopedic garments available in the region, such as socks, braces and support, sleeves, pantyhose, masks, and vests, braces and support witness the highest adoption. Such garments support the ligaments and reduce the weight the joints are subject to, in order to provide pain relief. Braces and supports are also more preferred than soft goods, as they are widely used by osteoarthritis and osteoporosis patients. Moreover, these products are utilized for patient rehabilitation and for people who have suffered a post-operative injury.

The rehabilitation of people with bone and muscle issues is generally done by physiotherapists, 350,221 of whom existed in the region in 2019, as estimated by the World Confederation for Physical Therapy. Such medical practitioners recommend orthopedic garments, soft goods, and braces, so that patients do not have to visit them that often, which helps in bringing down the healthcare spending. Therefore, with an increasing number of people suffering from musculoskeletal issues, sports injuries, and physical trauma, physiotherapists are witnessing an increasing footfall, which is driving the adoption of therapeutic and supporting goods.

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Why is Demand for Automotive HMI Solutions Surging in India?

The burgeoning requirement for in-vehicle connectivity is fueling the demand for automotive human-machine-interface (HMI) solutions in India. Nowadays, people want to stay connected with the outer world, even while traveling. Moreover, automobiles are increasingly becoming more connected with the outer world via cloud services. Due to the changing customer preferences, automotive manufacturing companies are launching partnerships with consumer electronic or information technology (IT) vendors in order to integrate in-vehicle connectivity features in their offerings.

For instance, AirWire Technologies, which is a U.S. based company, received a contract from Reliance Jio Infocom Ltd., which is a telecom operator in India, for manufacturing connected car devices. Additionally, Reliance Jio Infocom Ltd. is currently in talks with leading automobile manufacturers— Hyundai Motor India and Maruti Suzuki India Ltd.— for installing connected car devices in their passenger vehicles. The incorporation of these devices in passenger vehicles will allow passengers to access services such as entertainment, telematics, location-based apps, and WiFi hotspot. 

Increasing installation of these features is driving the demand for HMIs, as these devices are required for displaying the information and enabling smoother interaction of users with in-vehicle connectivity systems. These factors are fueling the expansion of the Indian automotive HMI market. Additionally, the soaring sales of vehicles in the country, on account of the booming population and increasing urbanization rate, are also driving the growth of the Indian automotive HMI market. According to the India Brand Equity Foundation (IBEF), the sales of automobiles grew in the country at a CAGR of 1.29% from FY16 to FY20 and reached 21.55 million units in FY20.

Hence, it can be said without any hesitation that the demand for automotive HMI systems will surge in India in the coming years, mainly because of the rising requirement for in-vehicle connectivity features and the soaring sales of premium cars in the country.

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What are Key Factors Causing Boom of Coronavirus Diagnostic Kit Market?

Coronavirus was initially identified in the Guangdong province of southern China in November 2002. Known by the name, severe acute respiratory syndrome coronavirus (SARS-CoV) is thought to be an animal virus that emerged from bats and became epidemic by affecting 26 countries and further resulting in more than 8,000 cases in 2003.

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Middle East respiratory syndrome coronavirus (MERS-CoV) infection was first reported in September 2012 in Saudi Arabia. Till date, nearly 2,500 cases of this type of infection has been reported in 27 countries in a near the Arabian Peninsula. In addition, the largest outbreak of MERS-CoV outside this peninsular region occurred in the Republic of Korea in 2015.

And now, with the outbreak of pneumonia of unknown aetiology in Wuhan City, Hubei Province, China, COVID-19, also known as SARS-CoV2 has emerged as a pandemic infection, as declared by the World Health Organization (WHO).

The 2019-novel coronavirus (2019-nCoV) real-time reverse transcription (RT) PCR diagnostic panel, provided by the Centers for Disease Control and Prevention (CDC) in the U.S., is a test intended for the qualitative detection of nucleic acid from the 2019-nCoV in upper and lower respiratory specimens such as nasopharyngeal or oropharyngeal swabs, sputum, lower respiratory tract aspirates, bronchoalveolar lavage, and nasopharyngeal wash/aspirate or nasal aspirate) collected from individuals who meet 2019-nCoV clinical and/or epidemiological criteria. The criteria include clinical signs and symptoms associated with 2019-nCoV infection, contact with a probable or confirmed 2019-CoV case, and history of travel to geographic locations where positive cases have been detected.

Furthermore, in India, on March 24th, 2020, a Pune-based molecular diagnostic company, MylabLifesolutions Pvt. Ltd., became the first Indian company to granted validation for its COVID-19 diagnostic test kits, or RT-PCR, by the Drug Controller of India, after the validation from the National Institute of Virology. With the rapid increase in the total number of COVID-19 cases, across the globe, the need for rapid and reliable diagnostics are increasing, thereby, boosting the demand for coronavirus diagnostic kits, significantly.

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Bronchoscope Market Expected to Exhibit Huge Progress during 2020–2030

 One of the major factors responsible for the rise in the demand for bronchoscopes is the rising incidence of lung cancer across the world. Since the last few years, there has been a massive rise in the global geriatric population and this has significantly boosted the prevalence of lung cancer across the globe. As per the World Health Organization (WHO), cancer was found to be the second-major cause of deaths across the globe in 2018, accounting for 9.6 million deaths, with lung cancer caused due to tobacco consumption responsible for almost 22.0% of all the lung cancer related deaths. 

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There are various types of bronchoscopy technologies commonly adopted in healthcare settings — endobronchial ultrasound (EBUS), narrow-band imaging (NBI), electromagnetic navigation bronchoscopy (ENB), and autofluorescence bronchoscopy (AFB). Out of these, the EBUS technique is predicted to register the fastest growth in adoption for the diagnosis of various lung disorders and diseases. The major factor responsible for the rapidly increasing adoption of EBUS technology is the fact that this technology makes the disease diagnosis and cancer stage identification processes easier.

Bronchoscopes are extensively used in therapeutic and diagnostic applications. Between the two, these instruments are currently observing higher usage in diagnostic applications. This is mainly attributed to the fact that the bronchoscopes are widely used for the diagnosis of airway-related diseases. In addition to this, the rising awareness amongst the people about lung diseases and the importance of their early diagnosis and detection are further contributing toward the ballooning adoption of bronchoscopes in diagnostic applications.

The North American region observed the highest usage of bronchoscopes during the historical period (2014–2019), owing to the presence of a large number of lung cancer patients, huge geriatric population, advanced healthcare infrastructure, leading bronchoscope manufacturing companies, and high incidence of chronic respiratory diseases in the region. The bronchoscope market is expected to grow the fastest in Asia-Pacific (APAC) during the forecast period, owing to the rising prevalence of chronic respiratory diseases, soaring healthcare expenditure, and increasing awareness amongst the people regarding lung diseases and the importance of their early diagnosis, in the region. 

Therefore, it can be said without any hesitation that due to the mushrooming occurrence rate of lung diseases and lung cancer, improving healthcare infrastructure, and rising adoption of advanced medical instruments, the demand for bronchoscopes will increase considerably over the next few years.

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AI in Fintech Market Revenue To Soar to $46,881.9 Million by 2030

The global AI in fintech market revenue stood at $7,702.7 million in 2020, and it is predicted to surge to $46,881.9 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 19.8% from 2020 to 2030 (forecast period). AI-based solutions are assisting businesses in reducing costs, automating processes, and mitigating the chances of errors.

The market is being driven by the growing focus of businesses on efficiency improvement and cost-cutting, rising adoption of artificial intelligence (AI), machine learning (ML), and internet of things (IoT) in financial institutions, surging adoption of the 5G technology, soaring use of fintech, and burgeoning requirement for cloud services across the world.

For example, many companies are using AI chatbots as customer assistants for various tasks, such as customer care executive (over the phone), online chat executive, and sales. By answering various frequently asked questions about a product or a service or a company, these chatbots improve customer experience by helping users get answers to their questions immediately. Moreover, these chatbots assist the company in saving money and time.

Furthermore, AI enables process automation, which plays a critical role in task execution within financial companies. The main aim of automation in the banking industry is to help in processing repetitive banking operations. Some of the major benefits of automation are time savings (frees up time for employees so that they can focus on more complex tasks), cost savings, mitigating the chances of human errors, and scalability. Depending on the component, the AI in fintech market is divided into services and solutions.

This market research report provides a comprehensive overview of the market

• The Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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Why Is Wood Vinegar Used in Wastewater Treatment Plants?

Wood vinegar or wood acid or pyroligneous acid is a dark liquid, which is derived from charcoal. It is obtained by heating biomass in a closed container. The smoke generated during charcoal production is cooled into a liquid and then separated into bio-oil, tar, and wood vinegar. The dark liquid is a combination of nearly 80–90% water and over 200 organic compounds, such as acetic acid, esters, formic acid, ketones, methanol, and phenol. 

As this charcoal derivative has a high waste management potential, the increasing government and public focus on wastewater treatment, to meet the surging demand for clean water, will help the wood vinegar market grow at a CAGR of 7.1% during the forecast period (2016–2023). According to P&S Intelligence, the market generated $3.2 million revenue in 2015. For instance, the U.S. government has enacted the Safe Drinking Water Act (SDWA) to ensure quality drinking water for Americans. 

In recent years, wood vinegar producers, such as TAGROW CO. LTD., Nakashima Trading Co. Ltd., Ace (Singapore) Pte Ltd., Canada Renewable Bioenergy Corporation, Byron Biochar, and Nettenergy BV,  have engaged in technological advancements to develop better and improved pyrolysis kiln methods to produce char, biochar, and wood vinegar. Additionally, the advanced pyrolysis methods help enhance the production process of wood vinegar and reduce the total manufacturing process. Further, the producers are also focusing on involving poverty-ridden people in wood vinegar production processes as the material is majorly produced in villages by using local resources and feedstock.

Geographically, the Asia-Pacific (APAC) region held the largest share in the wood vinegar market in 2015. This was on account of the presence of a vast base of end users and the existence of a large number of local producers in the region. Moreover, the surging need for clean water, owing to the booming population, will also create a huge requirement for wood vinegar in the coming years. For instance, the World Bank states that the population of India surged from 1.353 billion in 2018 to 1.366 billion in 2019.

 

Thus, the escalating need for treated water and surging government focus on using bio-based products will fuel the consumption of wood vinegar globally.

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