Vehicle-to-Vehicle Communication Reducing Road Accident Cases

The vehicle-to-vehicle (V2V) communication technology is being increasingly integrated by automobile original equipment manufacturers (OEMs) in their offerings due to the soaring public awareness about passenger and vehicle safety. As per the National Highway Traffic Safety Administration (NHTSA) under the U.S. Department of Transport, V2V communication messages have a range of more than 300 m, and they can detect dangers obscured by weather, traffic, or terrain. Additionally, V2V communication enhances the crash avoidance systems currently available that use cameras and radars to identify collision threats, thereby helping in reducing the number of road accidents.

In addition, the rising integration of autonomous vehicle technology will help the vehicle-to-vehicle communication market progress at a robust CAGR of 16.6% during 2020–2030. The market was valued at $14.5 billion in 2019, and it is expected to generate $77.1 billion revenue by 2030. The adoption of autonomous features, such as advanced driver-assistance systems (ADAS), has enhanced the driving experience and vehicle safety by allowing automobiles to communicate and analyze decisions in complex traffic conditions.

According to P&S Intelligence, North America dominated the vehicle-to-vehicle communication market in the preceding years, wherein the U.S. emerged as the larger user of these solutions. This can be primarily attributed to the increasing penetration of advanced technologies, such as ADAS and telematics, the mounting investments being made by private and government organizations in them, and rising implementation of favorable policy frameworks in the U.S. Moreover, the surging awareness about vehicle safety and the rising need to stay connected will fuel the adoption of the V2V technology in the region.

Whereas, Latin America, Middle East, and Africa (LAMEA) is expected to adopt V2V communication technology at the highest rate in the forthcoming years. This will be due to the increasing integration of telematics solutions in passenger cars and the mounting concerns and awareness of fleet owners regarding driver safety and vehicle diagnostics and tracking. Moreover, the Asia-Pacific (APAC) region is expected to display a high inclination toward V2V communication solutions due to the surging consumer focus on vehicle and passenger safety and escalating demand for fleet management solutions in India and China.

Thus, the rising public awareness about vehicle and passenger safety and burgeoning demand for autonomous vehicles will fuel the adoption of the V2V communication technology in the forthcoming years. 

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How Will Booming Geriatric Population Augment Nebulizer Demand?

 The World Health Organization (WHO) estimates that approximately 262 million new asthma cases were recorded in 2019, and it accounted for 461,000 deaths in 2019. The organization also states that chronic obstructive pulmonary disease (COPD) caused approximately 3.23 million deaths in 2019, and it is the third leading cause of fatalities in the world. People suffering from COPD and asthma use nebulizers to get relief in uneasy situations. Thus, the rising incidence of such respiratory diseases will create an enormous requirement for nebulizers globally.

Nebulizer Market Size and Demand Forecast Report

Additionally, the growing geriatric population and soaring healthcare spending will propel the nebulizer market at a 7.4% CAGR during 2020–2030. According to P&S Intelligence, the market revenue stood at $765.1 million in 2019, and it will reach $1,698.1 million by 2030. The United Nations Department of Economic and Social Affairs (UNDESA) predicts that the number of people aged 65 years or over will increase from 727 million in 2020 to over 1.5 billion by 2050. 

Currently, nebulizer producers, such as Aerogen Ltd., Agilent Technologies Inc., Allied Healthcare Products Inc., Beurer GmbH, Briggs Healthcare, Becton, Dickinson and Company, General Electric Company, GF Health Products Inc., Koninklijke Philips N.V., Medline Industries Inc., OMRON Corporation, PARI GmbH, and Rossmax Swiss GmbH, are engaging in product launches and organizing public awareness programs to improve their brand image and expand their portfolio. For instance, in June 2020, Respira Technologies Inc. introduced the RespiRx drug delivery platform, an ultra-portable handheld vibrating mesh nebulizer, for systemic and local treatment. 

Geographically, the North American region led the nebulizer market in the preceding years, owing to the extensive healthcare spending, high burden of respiratory disorders, and numerous product launches. For example, the Canadian Institute for Health Information states that the healthcare expenditure in Canada increases by around 4% per year. Further, Statistics Canada reveals that chronic lower respiratory diseases caused 12,823 deaths in the country in 2019. Likewise, the Centers for Disease Control and Prevention (CDC) estimates that chronic lower respiratory diseases, including asthma, were responsible for 156,979 fatalities in the U.S. in 2019. 

Therefore, the increasing incidence of respiratory disorders and soaring aging population will accelerate the adoption of nebulizers in the forthcoming years.  

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Growing Incidence of Chronic Diseases Powering Medication Adherence System Sales

With the rising incidence of chronic diseases, the sales of medication adherence systems are rising rapidly across the world. Chronic diseases usually require long-term therapies and treatment procedures that involve the utilization of drugs. Any interruptions in drug intake may cause fatal consequences, thereby making strict medication adherence extremely necessary for disease treatment. As per the Centers for Disease Control and Prevention (CDC), in the U.S., 160,201 people lost their lives in 2017 because of chronic lower respiratory diseases.

Chronic diseases are caused because of several factors such as oxidative stress, genetics, and many environmental factors. Clinical intervention is necessary for managing and treating these diseases. This is achieved by increasing the adoption of several patient-centric medication adherence programs. Besides these factors, the growing requirement for medication adherence systems is also boosting their sales across the world. In many countries, the lack of adequate cooperation among patients and healthcare professionals is affecting the quality of patient care.

This is because inadequate cooperation leads to errors in disease diagnosis and the fragmentation of healthcare data and information such as patient demographics, administrative data, billing, and medical history. This makes the usage of advanced medication adherence and management platforms extremely integral for disease management and treatment. Hence, with the growing adoption of these platforms, the global medication adherence market is registering huge expansion. The market valuation will grow from $2,310.0 million in 2019 to $11,226.3 million by 2030.

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How Does Any Pandemic or Epidemic Accelerate Medical Gloves Usage?

 As per the estimates of the World Health Organization (WHO) non-communicable diseases (NCDs) or chronic diseases account for nearly 71% of the global deaths. The WHO states that approximately 1.5 million, 4.1 million, 9.3 million, and 17.9 million deaths across the world are caused by diabetes, respiratory diseases, cancer, and cardiovascular diseases (CVDs), respectively, every year. The surging prevalence of such chronic diseases is leading to a significant surge in the number of surgeries, which, in turn, is expected to generate a huge requirement for medical gloves in the coming years.

Get Detailed COVID-19 Impact Analysis on the Medical Gloves Market

Moreover, the ongoing COVID-19 pandemic will also help the medical gloves market progress at a healthy CAGR of 10.8% during 2020–2030. The market was valued at $6,633.4 million in 2019 and it is projected to generate $20,435.6 million revenue by 2030. Currently, medical professions are using protective medical items, such as surgical and examination gloves, to contain the spread of coronavirus, as it is transmitted through direct contact. Additionally, the recent outbreak of severe acute respiratory syndrome (SARS), Ebola, Zika, and Middle East respiratory syndrome (MERS) has also augmented the usage of medical gloves worldwide.

In contemporary times, medical professionals are preferring nitrile gloves over latex, vinyl, and neoprene ones, due to their non-allergic properties. Additionally, nitrile gloves exhibit high puncture resistance and they are considered ideal for surgical and medical examination applications. Hospitals, clinics and diagnostic centers and ambulatory surgery centers (ASCs) use a wide variety of sterile and non-sterile medical gloves produced by Kimberly-Clark Corporation, Riverstone Holdings Limited, B. Braun Melsungen AG, Dynarex Corporation, Paul Hartmann AG, SHIELD Scientific B.V., and Medline Industries Inc.

According to P&S Intelligence, North America will dominate the medical gloves market in the foreseeable future, due to the surging prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma, in the region. For instance, the Centers for Disease Control and Prevention (CDC) estimates that 25,131,132 people were suffering from asthma in the U.S. in 2019. Besides, the outbreak of the COVID-19 pandemic and the presence of a large number of medical glove producing companies are also propelling the sales of these products in the region. 

Furthermore, the Asia-Pacific (APAC) region is expected to create an extensive requirement for medical gloves in the forthcoming years, due to the booming geriatric population, soaring cases of COVID-19, and increasing volume of surgical procedures and diagnostic examinations. The United Nations Population Fund (UNFPA) forecasts that the number of people aged more than 60 years in APAC will reach around 1.3 billion by 2050. Additionally, the improving healthcare infrastructure will also contribute toward the booming demand for medical gloves in the region. 

Therefore, the ongoing COVID-19 pandemic and rising incidence of chronic illnesses will propel the usage of medical gloves in the forthcoming years.  

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Turkey Micromobility Market To Register 64.5% CAGR during 2021–2030

A number of factors, such as the rising need for maintaining a green environment, surging requirement for minimizing traffic congestion, and increasing demand for effective transportation systems for short-distance traveling, are projected to drive the growth of the Turkish micromobility market at a robust CAGR of 64.5% during the forecast period (2021–2030). According to P&S Intelligence, the market generated revenue of $92.8 million in 2020, and it is expected to reach $14,711.1 million by 2030. Moreover, the market is witnessing a trend of surging adoption of e-scooters in the country.

One of the prime factors aiding the Turkish micromobility industry is the rising need for maintaining a green environment. Environmental pollution is one of the major issues in the country. Air pollution level is above the guidelines of the World Health Organization (WHO), which leads to deadly diseases. Micromobility is helping in minimizing pollution levels, and thus, the micromobility ecosystem is expanding significantly, owing to its high availability, ease of functioning, low pricing, and environment-friendly. Moreover, the micromobility services are expected to replace cars being used for short distances in the long run, and they help in reducing emission levels.

The vehicle type segment of the Turkish micromobility industry is classified into e-scooters, e-bikes, e-pods, e-mopeds, bikes, and scooters. Among these, the e-scooters category accounted for the largest market share in 2020, and it is also expected to witness the fastest growth in the coming years. This is attributed to the rising fleet size of e-scooters. This leads to the high availability of e-scooters for micromobility services in the country, as compared to other vehicle types.

The key players operating in the Turkish micromobility market include Marti Technologies Inc., Inveo Yatirim Holding A.S., Hop Teknoloji A.S., Fenix Technologies Ltd., Bizero Robotics, Segway Inc., Kwang Yang Motor Co. Ltd., Niu Technologies, and Bisim Smart Bicycle Rental System. These players have been involved in investments and funding activities to gain a competitive advantage. For example, Inveo Yatirim Holding A.S. invested $2.8 million (TL 24.2 million) in Hop Teknoloji A.S. in May 2021. This is projected to elevate the growth of the latter company in order to buy new electric scooters and augment its business operations. 

Thus, the surging need for maintaining a green environment and the rising requirement for minimizing traffic congestion are expected to propel the market growth during the forecast period.

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Robotic Catheter Systems is Likely to Witness Significant Growth due to their Advantages

The major drivers of the market are the rising prevalence of cardiovascular diseases and reduced occupational hazards for cardiologists. These systems are medical robots that work through a joy stick or a remote to perform various diagnostic and therapeutic procedures, such as the stent implantation, myocardial biopsy, ablation, and coronary angiogram, among others.

The robotic catheter systems market is categorized into Middle East & Africa, Latin America, Asia-Pacific, Europe, and North America based on region. In 2018, the highest revenue generator in the market was North America, and in the forecast period as well, it would continue to dominate the market, in terms of revenue.  The major driving factors of the regional market are the high adoption of these systems for cardiovascular diagnostic and therapeutic procedures in hospitals and clinics and the large presence of key manufacturers.

The robotic catheter systems market is witnessing the trend of digitization of instruments, which has been a key factor in the evolution of integrated and automated cardiovascular interventional labs. The advancements in the robotic technology are taking place rapidly, which, in turn, is helping hospitals cut down on catheterization lab costs, particularly in remote areas. The operational efficiency of cath labs has massively improved due to the commercialization of such systems.  Even though these systems are pretty expensive, they are being heavily deployed owing to the advantages they offer over conventional catheterization procedures.

Access Report Summary - Robotic Catheter Systems Market Segmentation Analysis

With the technological advancements, the robotic catheter systems market would witness remarkable growth due to the extensive testing of these systems in the clinical trials. Catheterized cardiovascular procedures, such as catheter ablation, are popularly used in modern medicine, but robot-assisted catheterized procedures have not become as popular as their conventional counterparts due to the scarcity of skilled professionals. Companies, such as CorPath, Amigo, Sensei, and Niobe are commercializing robot catheterization systems, which may contribute in the demand for training people for operating the technology, thereby making them popular among patients and surgeons.

Hence, the market for robotic catheter systems is set to advance in the forecast period as the requirement for safer technologies for carrying out cardiovascular procedures is rising.

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Surging Construction Activities Fueling Indian Diesel Generator Set Industry Growth

The Indian diesel generator set market value stood at $816.0 million in 2021, and it is predicted to surge to $1,831.2 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 9.4% from 2021 to 2030 (forecast period). The major factors driving the expansion of the market are the booming manufacturing industry and burgeoning need for power for construction activities in the country.

With the implementation of various supportive government regulations, the manufacturing industry in India is predicted to expand massively in the coming years. As per the India Brand Equity Foundation (IBEF), in India, foreign direct investments (FDI) in the manufacturing industry amounted to $89.2 billion between April 2000 and December 2019. The country witnessed a sharp rise in FDI during this period, owing to the provision of various incentives, relaxation of tax laws, and advancements and innovations in the infrastructure.

Additionally, many automobile and mobile phone manufacturers are either setting up their production facilities or commissioning these plants in India, which once completed will push up the requirement for diesel gensets. Besides, the increasing construction activities in the country, on account of rapid urbanization and industrialization, are also fueling the demand for diesel gensets. In recent years, the country has witnessed the launch of several massive construction projects, such as those pertaining to the development of refineries, ports, buildings, roads, and highways.

Karnataka is predicted to be the fastest-growing state in the Indian diesel genset market throughout the forecast period. This is attributed to the development of commercial infrastructure and growing number of residential facilities in the state. For example, as per an article published in Business Today in December 2020, the Central government would launch infrastructure development projects worth $15.68 billion in Karnataka in the near future. Additionally, as per the Economic Times, the Karnataka government decided to build 900,000 houses over a duration of two years in the state under various housing projects, in July 2021.

Hence, it is safe to say that the sales of diesel gensets will soar in India in the coming years, mainly because of the surging construction and infrastructure development activities in the country.

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