Why Will APAC Region Grow at the Fastest CAGR in Endoprosthesis Market?

Endoprosthesis is the implantation of an artificial joint or similar prosthesis for tissue injury. Metal and plastic are the most prevalent materials (splints, joint replacements, stents, screws, etc.). All of the metals are non-magnetic and manufactured of a unique alloy. Its insertion and anchoring into the tissue stop it from slipping or moving unintentionally.

The global endoprosthesis market will reach $65,997.9 million by 2030. The demand for endoprosthesis is driven by the growing frequency of orthopedic illnesses and peripheral vascular diseases.

Moreover, the APAC endoprosthesis market is predicted to grow at a CAGR above 13% in the coming years. This is due to the likelihood that the population of seniors will rise significantly during the next 50 years.

The advancement of the industry is further fueled by the recent increased focus on the area's healthcare infrastructure. Therefore, as healthcare costs rise and the count of hospitals increases, the market growth in the region will also increase.

Increasing Cases of Osteoarthritis among Aged Population 

Endoprosthesis is used in several orthopedic treatments on joints, the femur, and other areas. One of the primary drivers of the market's growth is the rising proportion of seniors who suffer from orthopedic disorders like osteoarthritis.

For example, osteoarthritis, which can affect several bodily parts, is widespread among the elderly. As per the World PopulationAgeing 2020, there were 727 million persons 65 and over in the world in 2020, and by 2050, that number is projected to double to 1.5 billion. Therefore, it is anticipated that the prevalence of orthopedic issues will rise in the years to come, fueling market expansion.

In addition, two of the ten most incapacitating illnesses in many developing countries are degenerative and osteoarthritis joint disease. In men and women over 60, asymptomatic osteoarthritis affects 9.6% of men and 18.0% of women.

Additionally, 25% of those with osteoarthritis are unable to do most of their daily chores, and 80% of those with the condition have mobility problems. These factors are predicted to increase the demand for endoprostheses, which are used to treat this disorder and others like it.

Read More

Continuous Portray of Ideal Beauty by Social Media Propels Energy-Based Aesthetic Devices Market

 In 2021, the energy-based aesthetic devices market captured revenue of $2,661.6 million, and it is projected to advance at 10.1% rate from 2021 to 2030, to acquire revenue worth $6,326.2 million by 2030. It is attributed to increasing awareness, accessibility, and popularity of such devices, along with the innovations, surge in chronic skin conditions, and rising disposal income of the population. In addition, the minimally invasive treatments’ availability for skin tightening and resurfacing contribute to the market expansion.

The increased adoption of energy-based aesthetic devices with the continuous evolution of technology has fetched the attention of manufacturers to develop new, inexpensive, easy applicable products for home usage without requiring any technical expertise. Therefore, the popularity of at-home laser-and light-based devices is increasing to treat wrinkles, acne, scars, and hair removal.

The laser-based aesthetic devices hold approx. 40% share of the energy-based aesthetic devices market, which is the largest in itself, ascribed to their wide popularity. The next significant category is electromagnetic energy and light-based devices. The surge in cosmetic applications of lasers for skin contouring, fat, and hair reduction boosts the market. Furthermore, the rise in the elderly population and the growing incidence of skin problems caused overexposure to the sun, such as photoaging resulting in a surge in demand for the production of such devices.

North America is the largest energy-based aesthetic devices market revenue contributor, accounting for 40%, and it is expected to hold the same position in the coming future, attributed to the growing prevalence of the obese population, causing an increasing requirement to reduce fat and body shaping treatments. Moreover, by 2030, approximately 125 million people are predicted to suffer from obesity in the U.S.

Therefore, the rise in the elderly population with unwanted skin conditions and the growing prevalence of obesity are resulting in market proliferation.

Read More

Endoscope Reprocessing Market To Advance at a Growth Rate of around 10%

The size of the endoscope reprocessing market at around $1,880 million in 2021, which is expected to reach about $4,358 million by 2030, advancing at a growth rate of about 10% in the years to come. This is due to the rising inclination toward MIS procedures, the propagating risk of numerous infections related to soiled endoscopes, and the surging strict government regulations spanning all around the globe to control these infections.

The high-level disinfectants and test strips have approximately 35% of the market share in the endoscope reprocessing market in 2021, because of the rising occurrence of numerous endogenous infections like pneumonia and, bacteremia after the usage of endoscopy processes. Similarly, the acceptance of test strips is also growing for the effective measurement of MEC required for high-level decontamination, thus providing faster disinfection reaction time.

Endoscope reprocessing is mainly used in flexible endoscopes, having a higher revenue share of approximately 65% in 2021 in the endoscope reprocessing market. This is since prominent companies are launching AERs that are highly compatible with supple endoscopes. For example, around 90% of corporations are evolving AERs for flexible endoscopes, because of their viability to control and lightweight.

Users are more inclined toward entering into inclusive contracts with ISOs, with the intention of reducing difficulties and further expenses allied with discrete services provided under agreements with producers of medical apparatus. For example, NovaMed Corporation runs a comprehensive service management program that permits clienteles to combine the company’s services into one contract. The contract delivers a lucrative alternative to OEM contracts, in addition to multi-modality and multi-vendor access. Such instances confirm that the acceptance of inclusive endoscope service contracts is snowballing.

The APAC endoscope reprocessing market will have the highest growth rate, over 10%, because of the surge in the count of endoscopic surgeries and the upgrading in healthcare infra. Additionally, China and Japan collectively had approximately 50% share in 2021. This is because of the high frequency of GI-related cancers in both nations. For example, to a government company, there were approximately 3,00,000 GI-related deaths with cancer in the People’s Republic in the year 2021, which has in excess of 13% of all cancer-related deaths in the nation.

With the increasing number of MIS procedures in the people, there is an increase in the demand for endoscope reprocessing instruments.

Read More

Why Risk Assessment and Investigation Is Expected To Grow in Maritime Surveillance Market?

Data from a range of sensors and sensor combinations working in multiple spectrum bands installed on various platforms are used to collect, analyze, combine, and share information for maritime surveillance. The global maritime surveillance market to reach $40,386.4 million by 2030. The need for these solutions is mainly driven by the increase in marine risks, such as piracy, and the rigorous rules controlling global sea trade.

Maritime Surveillance Market Revenue Estimation and Growth Forecast Report

The technology subsegment was dominated by the maritime surveillance market in 2021 with a share of 32.3%, as a result of the use of different monitoring software to keep track of whereabouts and send out warnings as needed to safeguard ships, ports, and other marine infrastructure. Ships are the primary mode of transportation for global trade, and they transport roughly 90% of the traded products.

Additionally, the demand for these devices is anticipated to be substantial due to the growing demand for new maritime security at ports and also in coastal regions, particularly in regions like Russia, LATAM, and the Caribbean where the frequency of piracy attacks and robberies has increased significantly over the past few years.

Get More Insights: Maritime Surveillance Market Revenue Estimation and Growth Forecast Report

Moreover, APAC has been the driving factor for the maritime surveillance market growth because of the growing commerce and rising maritime tensions, even as countries in North America and Europe implement cutting-edge maritime security technology.

A variety of cameras, such as fisheye, infrared, and pan-tilt-zoom (PTZ) cameras, are used at ports. For instance, IMO approved the LRIT System, a global ship tracking system, to instantly follow ships throughout the globe. Additionally, there are requirements for the complete radiological and nuclear hazard screening of marine cargo with a destination in the U. S.

After the 9/11 terrorist attacks, U.S. CBP implemented several measures to protect cargo containers. In the months following the destruction of the Twin Towers, the Container Security Initiative sent CBP agents abroad to work with foreign governments to identify and analyze high-risk containers before they are put onto ships bound for the U.S.

The category of risk analysis and investigation will generate $1,193.1 million in the maritime surveillance market by 2030. When handling sensitive products, risk assessment is essential since the threat of maritime terrorism, piracy, gunrunning, and other non-traditional seaborne assaults has increased considerably over the past ten years. Because it affects marine commerce, the security of the country and its residents depends on the health of its coast, which is also related to economic growth.

Because of this, the usage of various types of software for evaluating the risks associated with sailing and looking into particular occurrences and potential threats is becoming more relevant, which is fueling the growth of the maritime surveillance market. Planning security measures and system-wide processes to prevent tampering with offshore installations and marine transportation is made easier by risk assessment and investigation.

Read More

Why Does Rotatory Category Dominate Air Compressor Market?

A diesel engine or electric motor powers an air compressor, a mechanical device that converts energy from one form to another and stores it in the pressured air. Powered machine tools, ventilation systems, HVAC control systems, and other industrial and non-industrial uses for powered air employ pressurized air.

Air compressors use the kinetic energy stored in the compressed air to deliver the required power to various machinery, tools, and equipment in different industrial verticals. Additionally, the continuous compression supports the transportation of gases and liquids, the production of goods connected to petrochemistry, and cooling applications.

Air Compressor Market Size and Share Analysis Air Compressor Market Size and Share Analysis

It has various uses, including cleaning, vacuum packing, spray painting, and other things. Additionally, a wide range of end customers employs air compressors for dehydration, air blowing, cleaning, powering tools, and medical equipment.

Rapid industrialization in developing nations is a crucial element driving the demand for air compressors. The market is expanding because industries worldwide are increasing their need for energy-efficient air compressors.

The air compressor market is predicted to touch $45,888.0 million by 2030. This is due to the growing trend toward increasing energy efficiency, decarbonizing various sectors, including semiconductors and electronics manufacturing, digitalizing industrial operations, and using cloud-chain and automation technologies in different industrial processes.

Demand for Energy-Efficient Compressors is Growing

Air compressors are utilized by several sectors, such as manufacturing, oil and gas, chemical, and power generating. Numerous sectors have implemented cost-effective manufacturing techniques to solve the drawbacks of traditional production methods.

Numerous industries have a sizable need for energy-efficiency compressors because of their benefits, including cost-effectiveness and efficient energy delivery. The rigorous environmental laws by multiple growing economies, notably China and India, have further fueled demand for these devices.

To achieve the highest level of the energy economy, end users choose VSD control systems over on-and-off-control compressors because the former offers the required flow, maintains a constant pipe pressure, and makes leakage detection possible.

A monitored VSD device offers high energy savings. It features an AC drive, which keeps track of the speed of the functional unit and avoids using extra energy compared to a predetermined-speed equivalent. 

Which Category Lead Industry?

Historically, the rotatory category holds the most significant share of about 45.0% because of these types' excellent efficiency and durable construction. Additionally, the category's expansion is aided by the numerous standards issued by government organizations throughout the globe to improve the output energy and efficiency optimization of the rotatory type.

The sales potential is also increased by the rotatory compressor's numerous advantages, including its longer lifespan and significant battery energy savings. Additionally, it is anticipated that the equipment's costly installation and maintenance costs will slow expansion in the upcoming years.

But as technology has advanced, air compressors' compression capacities have increased, which is expected to increase the demand for air compressors. Developing portable and energy-efficient air compressor designs have been widely embraced by businesses worldwide.

Read More

Why Is Europe Leading Region in Global Cordless Power Tools Market?

Battery-powered portable tools known as cordless power tools are ideal for various DIY projects around the home and office. Both brushed and brushless motors may be added to operate these small, wireless tools.

Cordless power tools are often utilized in the business and at home. Long-lasting batteries are a must for cordless power tools, which must be sturdy, small, and lightweight. The increasing usage of Li-ion batteries drives the need for cordless power tools. The global cordless power tools market is expected to reach $46,729.5 million by 2030.

Technology development has produced several tools and equipment employed in many different sectors. Due to the need for efficiency, power tools are exceeding traditional tooling in both the residential and commercial sectors. For instance, there is a lot of pressure on the construction sector to provide cutting-edge products that minimize human labor.

Power tools, such as assembly tools, are precision equipment that needs ongoing maintenance of their stirring components. For specific activities, power tools must be recalibrated at predetermined times. Power tool motors, connections, batteries, and other components age and degrade with time.

The proper operation of tools needs routine maintenance, which is considerably costly. Customers in undeveloped nations favor human labor over power tool maintenance.

Therefore, the high cost of maintenance is restricting the growth of the cordless power tools market. Similar to this, power tool maintenance and repair costs increase with time. Therefore, customers in emerging nations rely heavily on rental tools, impeding their growth.

Wind turbine installation involves a significant amount of electric fastening equipment. The maintenance and inspection of tower procedures require these fastening tools. A compression factor is chosen to maintain precision, and connections are torqued in accordance. Electric fastening equipment should be the appropriate power tools for this industry since installation requires special force.

Read More

High Demand for Electric Rickshaw Batteries Led by Increasing Traction of Vehicles Due to Low Running Cost

 Do you have ever experienced traveling on e-rickshaws? It is a convenient travel mode in metro cities to cover short distances. The nine to five workforces heavily rely on e-rickshaws to reach the metro stations at their nearby location. It is quite common to see people with office bags in the morning looking for e-rickshaws to reach metro stations, and from metro stations to reach offices. It goes the same during evenings they take e-rickshaws from nearby office locations to reach metro stations, and after their metro travel, they further take e-rickshaws to reach home.

Inexpensive Cost of E-Rickshaws

Instead of picking motor vehicles to cover such short distances, e-rickshaws are massively encouraged as a convenient travel facility. There are numerous benefits of this transport. It is extremely cheap as compared to auto-rickshaws, which can sufficiently accommodate two passengers. An e-rickshaw cost amount from Rs. 60 thousand to Rs. 1.1 lakhs, while an auto-rickshaw costs between Rs. 1.5 lakhs to Rs. 3 lakhs.

Employment Generation By E-Rickshaws

The e-rickshaws usually experience fewer maintenance issues, and hence save cost. Along, with this, the rising popularity of this travel service provides employment to a large number of people. The cycle-rickshaw drivers are massively shifting toward e-rickshaws due to higher convenience and rising preference for this travel service over cycle-rickshaws. The running cost of e-rickshaws for a distance of 2.1 to 2.3 km is only Rs. 0.4.

Environment Benefits of E-Rickshaws

The e-rickshaw pose numerous environmental benefits. It includes alleviating air and noise pollution caused by transport. Around 1,036.6 tonnes of carbon dioxide emissions can be eliminated by replacing CNG auto-rickshaws with e-rickshaws.

Government Initiatives Driving E-Rickshaw Sales

Moreover, the government initiatives encourage e-rickshaw traction. It includes National Electric Mobility Mission, 2013, FAME I and II, Pradhan Mantri Mudra Yojana, 2015, and National Urban Livelihood Mission 2013. Along with these initiatives, the electric vehicle policy of the state in the forms of loans, direct subsidies, and regulatory framework also supports the rising adoption of the e-rickshaws.

Increasing Sales of Electric Rickshaws Batteries 

In 2021, the sales of e-rickshaw batteries contributed $141.3 million in revenue and are expected to rise to $295.4 million by 2030, advancing T ~8.5% rate from 2021 to 2030. Most of the e-rickshaws sales go unregistered due to their rising popularity and unorganized manufacturing companies. Presently, the registered sales of e-rickshaws account for 15,00,000, with an additional sale of 11,000 new e-rickshaws every month.

The unorganized players sell around 10,000 e-rickshaws per month, while organized players monthly contribute to sales of 1,500 to 2,000 e-rickshaws. E-rickshaws run on electric charge provided by batteries, and hence increasing adoption of e-rickshaws lead to rising sales of electric rickshaw batteries.

Rising Preference for Li-ion Battery 

There are usually two types of batteries used in electric rickshaws, li-ion battery, and lead-ion battery. Li-ion batteries have a higher preference over the lead-ion battery. It is due to their high capacity, lightweight, and availability in industry sizes. The low-discharge rate of lithium-ion batteries supports the maintenance of charge for a longer duration. It can get completely charged within 1 to 3 hours.

Therefore, the inexpensive running cost and high convenience offered by e-rickshaws for short-distance travel, including government initiatives drive the sales of e-rickshaws in India.

Get More Details India Electric Rickshaw Battery Market Demand and Business Opportunities 

Read More