Boom in Immigrant Population To Drive Mattress and Accessories Demand in Canada

As per the Organization for Economic Co-operation and Development (OECD) Better Life Index, the average per capita household net-adjusted disposable income in Canada is $30,854 a year. Further, Statistics Canada states that the adjusted household disposable income of the country increased from $1,623,255,000,000 in 2019 to $1,765,305,000,000 in 2020. The rising disposable income is encouraging the people of Canada to replace their old mattresses with new mattresses and accessories to lead a comfortable life. 

Additionally, the soaring number of immigrants is expected to propel the Canadian mattress and accessories market at 1.7% CAGR during the forecast period (2019–2024). The market was valued at $2,468.7 million in 2019, and it is projected to generate $2,689.8 million revenue by 2024. Statistics Canada has recorded the entry of over 341,000 permanent residents in the country in 2019. As per the organization, more than 404,000 temporary work permits and 402,000 study permits were issued to the immigrants in Canada in 2019.

Canada Mattress and Accessories Market

Currently, mattress and accessories manufacturers in Canada are engaging in product launches and mergers and acquisitions to offer improved products to their existing and prospective customers. For example, in April 2019, DirectBed introduced the Pure Zee Mattress Collection comprising of three types of mattresses— Louise Suite, Logan Suite, and Hudson Suite. These mattresses are made of natural materials, such as latex, bio-foam, gel foam, and cool gel, and are priced between $376 (CAD 500) and $1053 (CAD 1400).

According to P&S Intelligence, the Central region accounted for the largest share in the Canadian mattress and accessories market during the historical period (2014–2019), and it will continue this trend throughout the forecast period as well, owing to the presence of a vast population in major provinces of the country, such as Quebec and Ontario. As per Statistics Canada, the population of Quebec and Ontario surged from 8,578,300 in the third quarter (Q3) of 2020 to 8,604,495 in Q3 of 2021 and 14,745,712 in Q3 of 2020 to 14,826,276 in Q3 of 2021, respectively. 

Therefore, the booming disposable income of people and the growing number of immigrants will accelerate the adoption of mattresses and accessories in Canada. 

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How Does Anti-Lock Braking System Reduce Intensity of Road Crash Injuries?

Road crashes are responsible for 1.3 million deaths every year, as per the World Health Organization (WHO). A higher number of vehicles than the roads can accommodate, poor quality of roads, non-working traffic signals, unfavorable weather conditions, human error, and system error are some of the common reasons behind road accidents. The situation is even graver on highways, where the speed limit is generally a lot higher than within cities.

Thus, P&S Intelligence feels that the automotive anti-lock braking system market has a bright future ahead. When a driver presses hard on the brake pedal or lever, the ABS keeps the wheels turning and stops the vehicle from skidding. This prevents the loss of control of the vehicle and also allows it to turn in the intended direction. This is why the installation of this system is mandatory in numerous countries to prevent road accidents and keep passengers and pedestrians safe.

Automotive Anti-Lock Braking System (ABS) Market Report | P&S Intelligence

For instance, it is mandatory for all new two-wheelers in Europe to have ABS. Similarly, in 2017, the Indian government modified its Motor Vehicle Act, making the system mandatory in all new commercial vehicles. Hence, the increasing sale and production of automobiles are propelling the procurement of ABS components by automakers. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), 57,262,777 vehicles had been produced during January–September 2021 compared to 52,146,292 during the same period last year.

Therefore, Asia-Pacific (APAC) dominates the automotive ABS market presently. The highest production and sale of automobiles is witnessed in this region, which is why the roads here are rather congested. Moreover, most of the interstate highways lack streetlights, which raises the risk of accidents manifold at night. Moreover, the mountainous roads in these countries witness heavy traffic, which has led to a high incidence of road crashes. Hence, governments here are becoming stricter with regard to having advanced safety systems in automobiles.

Therefore, with the burgeoning vehicle sales and stringent government laws related to road safety, the integration of ABS will rise.

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Why Are Automakers Substituting Iron and Steel with Metal Alloys?

The slump induced by the COVID-19 pandemic seems to be way in the past, as automotive sales around the world have risen to 35,603,479 units in the first half of 2021, compared to 27,799,942 units during the same period last year, says Organisation Internationale des Constructeurs d'Automobiles (OICA). This is driven by the strong desire of people to own a vehicle for practical purposes and to show off their social status. However, with the continuous rise in the number of vehicles on the roads, greenhouse gas (GHG) emissions are also rising.

This is why P&S Intelligence has forecast huge growth for the automotive alloy market in the years to come. As per the International Energy Agency (IEA), the transport sector was responsible for 8.5 Gigatons of GHG emissions in 2019. Therefore, governments around the world are taking numerous measures to clean up the transport system, such as implementing stringent emission regulations, including the U.S. Environmental Protection Agency (EPA) Tier 3 norms, European Union (EU)’s Euro 6 norms, and India’s Bharat Stage VI (BS6) emission standards.

One of the best ways to reduce the emissions is to make automobiles lighter. By doing this, the load on the engine decreases, which leads to a lower consumption of fuel, thereby ultimately decreasing tailpipe emissions. Therefore, in order to comply with the stringent emission regulations, automotive original equipment manufacturers (OEMs) are replacing the traditional iron and steel in the automobile body with lightweight yet strong alloys (mixtures of different metals).

Currently, Asia-Pacific (APAC) is the largest automotive alloy market simply because it accounts for the highest production of electric and conventional automobiles. According to the OICA, China, Japan, India, and South Korea rank one, three, five, and six, respectively, on the list of countries with the highest automotive production. Further, they are also among the most-polluted countries on earth, which is why the emission regulations here are rather strict. For the same reason, their governments are doing everything they can to boost EV production and uptake.

Hence, with the rising automobile production in a world reeling under a rapidly deteriorating air quality, the usage of lightweight alloys will increase.

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Airbag Usage Rising due to Stringent Vehicle Safety Regulations

With the burgeoning number of vehicles in operation, the incidence of road accidents is also increasing. As per the World Health Organization (WHO), 1.3 million people die on the roads every year, with the actual count rising continuously. Therefore, governments across the globe are making policies to impel automakers to install advanced safety features in automobiles. One of the most-common such features nowadays in four-wheelers is an airbag.

As per P&S Intelligence, with the strong government and individual focus on vehicle and passenger safety, the automotive airbag market will expand by a considerable degree in the coming years. If a vehicle comes to an abrupt stop, the airbags automatically inflate and stop people from banging their heads on the seat in front, doors and their windows, or on the front windshield, thus protecting them from severe cerebral trauma.

There are three types of airbags: curtain & side, knee, and front. Curtain & side airbags are deployed near doors and windows, to protect people from something hitting the vehicle from the side. Front airbags are deployed from within the steering and the side cabinet, thereby protecting people from smashing into the windshield, which can cause the glass to go through the skull. Knee airbags are deployed from the lower section of the front cabin, to protect people’s legs from getting sandwiched if the dashboard collapses into the vehicle floor.

Presently, North America is the largest automotive airbag market despite the fact that the highest number of vehicles is sold and produced in Asia-Pacific (APAC). This is because vehicle safety laws are the strictest in North America, and they have been around for a long time here. Airbags and anti-lock braking systems (ABS) in all passenger cars were made mandatory by the U.S. Highway Safety Act of 1991, 10–20 years before APAC. Moreover, the U.S. New Car Assessment Program (US NCAP) rates vehicles based on the safety features in them.

Further, led by China, Japan, India, and South Korea, APAC is the largest producer and buyer of automobiles. This is also credited to the presence of the factories of local and almost all major international automakers here. As a result, auto component manufacturers are marketing their airbags aggressively in the region, to leverage the large auto manufacturing base for higher revenue. In addition, sales of luxury and premium vehicles with advanced features, including airbags and ABS, are rising in the region due to people’s increasing income.

Thus, with the booming vehicle sales, the demand for airbags will rise.

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Surging Number of Amputations Propelling Demand for Medical Bionics

 With the surging incidence of amputations because of injuries and road accidents, the demand for medical bionics is rising sharply. As per the Association for Safe International Road Travel (ASIRT), around 2.35 million people are disabled or injured in the U.S. every year and road accidents cost nearly $230.6 billion (or an average of $820 per person) in the country. Additionally, as per the Organization for Economic Co-operation and Development (OECD), road accidents surged in the U.S., that is from 1.57 million in 2010 to 1.75 million in 2015, which consequently pushed up the requirement for medical bionics. 

Access Report Summary - Medical Bionics Market Growth

Besides the aforementioned factor, the growing incidence of road accidents is also driving the demand for medical bionics across the world. As per the World Health Organization (WHO), nearly 1.3 million deaths are recorded every year because of road accidents. A traumatic amputation can result in partial or full amputation. In some cases, it may be possible to re-attach the detached body part. In this process, the remaining part of the limb that has been detached is operated upon and a prosthetic limb is fixed. 

Depending on fixation type, medical bionics are divided into implantable and non-implantable bionics. Between these, the demand for implantable bionics was found to be higher in 2017. This was because of the fact that a large number of people opted for organ transplants and the high incidence of chronic diseases across the world. Heart, orthopedic, neural/brain, ear, and vision/eye are the most widely used types of medical bionics. Out of these, the demand for orthopedic medical bionics is predicted to rise at the fastest pace in the coming years.

Hence, it can be said without any doubt that the demand for medical bionics will soar in the coming years, mainly because of the increasing incidence of injuries and amputations because of road accidents, mushrooming population of geriatric people, and rising prevalence of chronic diseases across the world. 

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Clinical Decision Support Systems Receiving Increasing Government Funding

Wherever there is life, there will be disease! Therefore, since the beginning of the human civilization, the focus on health and wellbeing has been strong, regardless of how little understanding of the concept early humans had. In the modern world, healthcare services are dispensed at places ranging from the single-doctor neighborhood clinic to multi-specialty hospitals with hundreds of beds. However, with more diseases being discovered and the footfall of patients steadily rising, even such advanced healthcare facilities are reeling under high pressure to treat as many as possible, as well as possible.

Access Report Summary - Clinical Decision Support System Market Global Industry Analysis and Demand Forecast Report

P&S Intelligence credits this rising patient footfall and the pressure that the global healthcare fraternity is under presently, especially with the raging COVID-19 pandemic, to claim significant growth in the clinical decision support system market from $410.5 million in 2015 at a 22.4% CAGR during 2016–2022. CDSS involves the usage of health information technology (HIT) to offer healthcare professionals support in their day-to-day clinical operations. The idea is to computerize, or, at least, digitize, patient records, diagnoses, treatment recommendations, medication schedules, and other aspects, so that doctors are free to deal with patients personally.

Therefore, CDSS has numerous applications in medical settings, including clinical guidelines, drug–drug interactions, clinical reminders, drug allergy alerts, and drug dosing support. Presently, these systems are majorly used for alerting physicians about a possible drug allergy, as an allergic reaction to a drug can be catastrophic, even leading to death. Most of the computerized physician order entry (CPOE) databases and patients’ electronic medical records (EMRs) contain details of possible drug allergies, for the doctor to consult before prescribing medication. 

Therefore, considering how big a role CDSS and other digital health technologies can play in saving lives and improving the overall patient outcomes, they have been getting immense support from governments. For instance, the European Union (EU) invested $18.1 million in 2015 to develop the eIdentification (eID), eProcurement, eHealth, and online dispute resolution (ODR) infrastructure in the region. Similarly, under the Health Information Technology for Economic and Clinical Health (HITECH) Act, the U.S. government encourages doctors to use HIT platforms, such as EMRs, by offering them incentives.

As the usage of such systems requires a robust HIT infrastructure, North America is and will be the largest clinical decision support system market in the coming years. Moreover, the increasing healthcare spending and the reimbursement available under the Medicaid and Medicare programs make such expensive technologies affordable. In addition, the increasing geriatric population, which is expected to reach 84.8 million in the U.S. by 2050, as per the United Nations (UN), is leading to the rising patient footfall at hospitals and a greater need for remote patient monitoring and medication management solutions. 

Hence, as the healthcare niche advances and reels under increasing pressure, the requirement for CDSS and other digital technologies that can take some burden off doctors’ shoulders will keep growing.

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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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