Why is there a Need for Increasing Healthcare Expenditure for Introducing Peripheral I.V. Catheters?

As the prevalence of chronic diseases across the globe is increasing, the expenditure in the healthcare is also increasing. Since chronic diseases are harder to manage and often are incurable, the need for advanced solutions to deal with these problems is growing as well. Increased expenditure in the sector will facilitate the introduction of advanced healthcare solutions that can be afforded by a larger number of people. Moreover, this is will also increase the accessibility of several treatment options across the globe. 

This increased healthcare expenditure has led to the rising demand for peripheral I.V. catheter. As per a report by P&S Intelligence, the global peripheral I.V. catheter market is predicted to reach a value of $5.5 billion by 2022, increasing from $3.7 billion in 2015, and is expected to advance at a 6.0% CAGR during the forecast period (2016–2022). Peripheral I.V. catheters are used for facilitating the intravenous administration of antibiotics, analgesics, psycholeptics, and intravenous fluids.  

Browse report overview and detailed TOC at Peripheral I.V. Catheter Market Growth Forecast Report

The incidence of bloodstream infections and hematoma-related complications has decreased to a certain extent owing to the introduction of these advanced catheters. The utilization of different types of peripheral I.V. catheters aids in preventing the transference of blood-borne pathogens in to other people present in the healthcare setting. There are two types of peripheral I.V. catheters, namely integrated/closed and short, between which, the demand for short peripheral I.V. catheters was higher in the past.  

This being said, the demand for integrated/closed peripheral I.V. catheters is also projected to rise considerably in the coming years. Peripheral I.V. catheters are based on safety and conventional technologies, and the demand for safety variants is expected to increase significantly in the near future. These products are utilized in a number of clinical areas, namely infectious diseases, oncology, pediatric diseases, gastroenterology, and renal diseases. 

Geographically, the North American region emerged as the major peripheral I.V. catheter market in the past and is further expected to create the largest demand for these medical devices in the coming years as well. The surging geriatric population, increasing requirement for injectable drugs, and rising healthcare expenditure are leading to the growing need for peripheral I.V. catheters in the region. Within the region, the U.S. has been creating the largest demand for peripheral I.V. catheters and the situation is likely to remain the same in the coming years as well. 

In conclusion, the increasing healthcare expenditure and growing geriatric population are driving the market. 

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Why are Sales of X-ray Imaging Systems Booming Globally?

The rising incidence of chronic diseases such as cancer and diabetes is driving the demand for X-ray imaging systems. This is attributed to the fact that these systems are extensively used for diagnosing diseases. According to the World Health Organization (WHO), cancer is the second biggest cause of death across the world and claimed 9.6 million deaths in 2018. In other words, cancer was responsible for one out of every six deaths across the globe in 2018. 

The organization also reported that nearly 422 million people all over the world are suffering from diabetes and the disease claims 1.6 million deaths every year. Due to the burgeoning requirement for effective disease diagnosis, healthcare facilities are extensively using X-ray imaging systems. Moreover, many research institutes and organizations are conducting exhaustive research and development for developing technologically advanced X-ray imaging. These advancements have led to the development of innovative products such as mobile and digital X-rays. 

Access Report Summary - X-Ray Imaging Market Global Industry Analysis and Demand Forecast

Portable and stationary X-ray imaging systems are the two most widely used types of X-ray imaging systems. Between these, the demand for stationary X-ray imaging systems was found to be higher in the past. On the other hand, in the forthcoming years, the sales of portable X-ray imaging systems are expected to surge sharply. These systems are heavily used in mammography, dental X-ray, chest X-ray, and orthopedic X-ray applications. Amongst these, the usage of these systems was observed to be significantly high in orthopedic X-ray applications during the last few years.

Geographically, North America witnessed the highest usage of X-ray imaging systems in the years gone by. This was due to the high healthcare expenditure, soaring incidence of chronic diseases, and the presence of a large geriatric population and well-developed healthcare infrastructure in the region. Additionally, the region is also home to a large number of geriatric people, which also contributed massively to the X-ray imaging market growth in the region during the last few years. 

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What Key Factors would Contribut to Surge of Portable Ultrasound Device Market in Asia-Pacific?

Owing to the surging geriatric population, rising prevalence of chronic diseases, and soaring healthcare expenditure in several countries, the demand for portable ultrasound devices is expected to increase in the coming years. Since the last few years, there has been a massive rise in healthcare spending by the governments of various countries, especially developing nations, such as India and China, and this has resulted in the development of modern medical devices. 

Ultrasound refers to sound having a frequency higher than 20 kHz. The medical ultrasound devices operate at higher frequencies, typically in the range of 1–10 MHz. This machine computes the distance between the organ or tissue and the probe, by using the speed of the sound in the tissue and the time taken for each echo to return. An ultrasound machine, which uses these high-frequency sound waves to draw an image of the internal body structure, is used for studying a developing fetus, muscles and tendons, and abdominal and pelvic organs.

The Asia-Pacific (APAC) region is also predicted to register tremendous growth in the adoption of portable ultrasound devices in the coming years, mainly due to the increasing incidence of chronic and lifestyle-associated diseases and rising geriatric population in the region. The huge population pool and enhancing healthcare infrastructure are the other major factors fueling the growth of the portable ultrasound device market in APAC.

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What are the Growth Projections for Immunotherapy Drugs Market in Emerging Countries?

The ballooning incidence of chronic diseases is turning out to be a healthcare burden that is affecting both low- and middle-income countries (LMIC) and high-income nations. According to the World Health Organization (WHO), these diseases were responsible for the deaths of as many as 9.6 million people in 2018. In addition to this, the organization found that the LMIC witness nearly 70% of the total deaths caused due to cancer.

Many drugs produced by the immunotherapy industry players for the management and treatment of various chronic diseases are currently undergoing clinical trials. This is a major reason why the rising usage of immunotherapy drugs for combating the growing incidence of chronic diseases is a crucial factor fueling the sales of these medicines. Additionally, the rising requirement for monoclonal antibodies (mAbs), the increasing adoption of target therapies, and the growing popularity of biosimilars are propelling the global sales of immunotherapy drugs.

Geographically, the sales of immunotherapy drugs were the highest in North America in the past years. This was because of the high per capita healthcare expenditure, the presence of a large geriatric population and several industry players, and the high incidence of chronic diseases in the region. Furthermore, the large-scale development of several research laboratories also contributed toward the high sales of these drugs in the region in the past.

Moreover, the huge investments, both indirect and direct, in research and development (R&D) projects by biotechnology and pharmaceutical companies fueled the sales of these drugs in the region. The immunotherapy drugs market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years. This would be because of the surging healthcare expenditure in the improvement of healthcare facilities and infrastructure and the soaring research and development (R&D) activities being performed in the regional countries.

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How Will Strong Network Connectivity Need Strengthen Telecom Consulting Market?

Factors such as the surge in need for strong network connectivity and the rapid adoption of advanced technologies by enterprises will help the telecom consulting market advance at a robust CAGR of 11.8% during 2021–2030. According to P&S Intelligence, the industry was valued at $5,307.2 million in 2021, and it will generate $14,519.6 million revenue by 2030. In recent years, the rapid digital transformation of business entities has become a major market trend, as digitization has transformed the way enterprises interact with customers and carry out their internal processes.

The rising need for strong network connectivity is one of the key growth drivers of the market, as improved connectivity is vital to the smooth functioning of large enterprises. The prominent role of strong network connectivity can be credited to the effective communication offered by it. Additionally, stable connectivity helps business organizations access enterprises data from anywhere with robust security standards.  To achieve these objectives, businesses are increasingly opting for telecom consulting services and solutions. 

Telecom Consulting Market Report by P&s Intelligence

Currently, the telecom consulting industry is consolidated, due to the presence of several key players, such as Bain & Company Inc., Accenture PLC, Boston Consulting Group Inc., Tata Consultancy Services Limited, Wipro Limited, KPMG International Limited, Deloitte Touche Tohmatsu Limited, and IBM Corporation. Nowadays, these companies are involved in partnerships and collaborations to consolidate their position. For instance, in October 2021, Stellants, TIM, and Accenture PLC agreed to implement a private 5G network pilot project at a manufacturing plant of Stellants in the Automotive Centre of Goiana, in northeastern Brazil.

Globally, the North American telecom consulting market is expected to generate the highest revenue throughout this decade. This will be due to the presence of prominent market players, rapid deployment of mobile networks, rise in need for high bandwidths, and surge in adoption of cloud services in the region. However, the APAC market is expected to exhibit the fastest growth in the coming years, owing to the mounting investments being made by businesses in data security and cloud-enabled solutions.

Thus, the surging requirement for strong network connectivity and the increasing deployment of new-generation technologies will supplement the market growth.   

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Boom Expected in North America Aromatherapy Market in Future

Because of excessive exposure to pollution and ultraviolet radiation, the prevalence of skin diseases and skin related issues, including reduced elasticity has increased considerably across the globe, including North America. For example, in the U.S., acne is the most common skin condition, and affects up to 50 million Americans each year, according to the American Academy of Dermatology (AAD). One of the more serious skin conditions is skin cancer, and is has been observed that over 9,500 people in the U.S. are diagnosed with this cancer every day. While skin diseases are non-fatal, in most cases, they can considerably affect a person’s mental health, social participation, and ability to function.

Since essential oils have been found to be effective in the treatment of some of the skin conditions, people in North America are increasingly adopting aromatherapy for several purposes. Aromatherapy, also known as essential oil therapy, is a holistic healing treatment which utilizes natural plant extracts for promoting health and well-being. The medicinal use of aromatic essential oils improves both emotional and physical health. While aromatherapy has been around since thousands of years, it has started gaining popularity in the fields of medicine and science in recent times. 

Browse detailed COVID-19 impact analysis on North America Aromatherapy Market Revenue Estimation

Aromatherapy is offered by hospitals & clinics, beauty spas, and homes & offices. Beauty spas have been the major contributor to the North American aromatherapy market in the past. The rising disposable income of people in the region is resulting in the growing adoption of aromatherapy for different applications.

Hence, the adoption of aromatherapy in North America is growing due to the rising prevalence of skin diseases and growing disposable income of people.  

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Rapid Industrial Development To Propel Growth of Nigeria Gas Genset Industry

The revenue of the Nigerian gas genset market in 2021 was estimated at $259.8 million, and it is predicted to witness a CAGR of 7.9% during 2021–2030, to reach $514.4 million by 2030. The key factors supporting this growth include the rapid commercial and industrial development amidst the long-standing energy crisis. Almost every industry, such as manufacturing, food and beverage, oil and gas, agriculture, and construction, uses gas generators. The demand for these systems would increase with the rising number of commercial and industrial projects as Nigeria cannot provide enough power from its grid.

Construction sites need a constant and reliable supply of energy to keep the machines running. Similarly, oil and gas fields are located in remote locations and lack grid connectivity, thus leading to their dependence on gas-based gensets. The population growth and rural-to-urban migration are also propelling the demand for gas-based gensets. Similarly, in the manufacturing industry, the requirement for electricity is extremely high, which is why the growing industrial production is a major Nigerian gas genset market driver.

Based on application, the commercial category is predicted to witness the highest growth rate in the coming years. It will be due to the increasing adoption of gensets fueled by gas in commercial areas such as telecom towers and real estate sites. Therefore, the growing commercial sector, along with the revival of construction projects, is expected to offer thrust to the demand for gas gensets in the coming years. With the rapid pace of urbanization in the country, the development of these industries has become vital.

In addition, players in the Nigerian gas genset market are playing a vital role in its growth, through their multiple strategies. Some of the major providers of gas-powered generators in this African nation are YorPower Ltd., Honda Manufacturing (Nigeria) Limited, Jubaili Bros, Atlas Copco AB, JMG Limited, Mitsubishi Heavy Industries Ltd., John Holt Plc, General Electric Company, Caterpillar Inc., Mikano International Limited, and Siemens AG. They are launching newer systems and strengthening their distribution partnerships to improve access to these products.

Therefore, with the rapid pace at which the Nigerian industrial and commercial industries are growing, the demand for gas-based gensets will continue to rise in the country.

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