Why Is Demand Growing with Booming Geriatric Population?

In 2018, over 180,000 deaths were reported due to burn injuries every year, with majority of the cases occurring in the low and middle-income countries, as mentioned by the statistics published by the World Health Organization. Further, burns are considered to be one of the primary causes of disability-adjusted life years in low and middle-income countries. The report further mentioned that more than 1,000,000 people suffer moderate to severe burn injuries every year in India.

Further, due to burns, about 17% and 18% children have become temporarily and permanently differently abled, respectively, in 2018 in countries, such as Pakistan, Egypt, Colombia, and Bangladesh. This is indicative of the growing demand for wound care biologics to treat burn injuries. Biologics are biological agents, such as plant-derived active biomolecules, which help mend the innate repair mechanisms and have anti-microbial, anti-inflammatory, and anti-oxidant properties.

Wound care biologics are used for the treatment of acute and chronic wounds. Acute wounds can be caused due to trauma or surgeries and progress through stages of wound healing. They usually heal completely within four weeks. These are either surgical, burn, or traumatic. By definition, even an incision made during a surgery can also be considered a wound. Chronic wounds develop and persist over time, and usually are a result of some other chronic condition.  One of the types of chronic wounds is the diabetic foot ulcer. These are commonly observed in diabetic patients, and in some cases, may even lead to amputation of the limb. Some common risk factors of diabetic foot ulcer are structural foot deformity, peripheral arterial occlusive disease, and diabetic neuropathy.

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SLAM Technology Market To Reach $3,747.8 Million in 2030 with Adoption of Autonomous Vehicles

Globally, in 2021, the simultaneous localization and mapping technology market generated revenue of around $157.5 million, and it is predicted to grow at a robust CAGR of 42.2%, ultimately reaching $3,747.8 million by 2030. The adoption of UAVs, surging number of AR applications, and emergence of autonomous vehicles are the key factors driving the market. The demand for autonomous vehicles is rising as customers are inclining toward safe and efficient driving options.

Essentially, these automobiles reduce human error, which causes the majority of road accidents. These vehicles are integrated with the SLAM technology, a laser rangefinder, an inertial navigation system, and radar. These features make the vehicle capable of navigating and sensing the environment itself. With the surging demand for autonomous vehicles, the adoption of the SLAM technology will grow in the automotive industry, ultimately propelling the market in the coming years. 

Of the bifurcations based on offering, the 2D category held the larger share in the SLAM technology market in 2021. It is attributed to the increasing use of the 2D technology in residential robots and for location mapping in industrial sectors. It is based on red–green–blue depth (RGB-D) mapping, and it can enable robots to use RGB data, along with the depth data, from Kinect sensors for location mapping. Location mapping in industries is majorly required by mobile collaborative robots, which travel around the factory floor without any human involvement.

Geographically, the APAC SLAM technology market will witness the swiftest advance around the world in the coming years. This will be because countries such as India and China are witnessing an increment in the usage of robots. Aided by government initiatives, the regional manufacturing industry is procuring robots, which use this technology. The expansion of manufacturing facilities, rapid economic growth, advance of the IT industry, and increase in the adoption of drones by the automotive industry are also propelling the market in the APAC region.

Hence, the demand for the SLAM technology will surge sharply in the coming years due to the increasing adoption of autonomous vehicles, UAVs, and industrial robots worldwide.

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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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