Armored Vehicles Market To Observe Fastest Growth In APAC

The armored vehicles market will reach USD 35.2 billion, growing at a rate of 5.1%, by 2030 as per a report by P&S Intelligence. This can be credited to the rising cross-border disputes, increasing demand for robust, compact, and highly effective armored vehicles, the increasing defense expenses of several nations, and the militarization of law enforcement agencies. 

Unmanned armored ground vehicles are expected to witness the fastest growth in the armored vehicles market, during the forecast period. This is credited to the increasing demand for these vehicles due to their crucial role in assisting logistic operations onshore and supporting terrestrial combat. 

Combat vehicles generated the highest revenue in recent years, and this trend will continue in the future as well. This is because of the rising demand for light-protected vehicles and armored personal carriers. 

In addition, the increasing incidence of terrorist attacks in urban areas has boosted the requirement for armored vehicles.

It is crucial for defense forces to carry out better monitoring of land and naval borders. As robots can perform better in border surveillance, they can substitute humans in some situations. These robots can effectively patrol national borders and transmit real-time information. Such vehicles are provided with armor to enhance durability.

The defense category held a larger share in recent years, and it will remain larger in the years to come. This is because of the increasing usage of armored vehicles such as APCs, LPVs, IFVs, MBTs, MRAP, and the focus on the safe deployment of soldiers to battlefields and risky areas. 

APAC will witness the fastest growth during this decade, at a CAGR of approximately 5.4%. This can be credited to the growing requirement for armored vehicles due to the increasing cross-border and terrorism issues, rising demand for military modernization, the growing number of players, and complex geopolitics. 

Due to the growing demand for advanced armored vehicles in the military and defense sector, the industry will grow considerably in the coming years.  

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North America Is Dominating the Biologics CDMO Secondary Packaging Industry

In 2021, the biologics CDMO secondary packaging market was worth around USD 1,711.7 million, and it is projected to advance at a 8.7% CAGR from 2021 to 2030, hitting USD 3,622.6 million in 2030, according to P&S Intelligence.

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This development can be ascribed to the rising pharmaceutical market, snowballing making of drugs, and the increasing occurrence of numerous diseases, such as infectious diseases, chronic diseases, and hereditary disorders.

Biopharmaceutical businesses are projected to introduce numerous new products, such as treatments for diseases, to fulfill important unmet medical requirements. Also, above 7,800 products in medical development span an extensive variety of therapeutic areas, such as cardiovascular, cancer, neurology, diabetes, and others, because of the huge expenditure in research and development.

In 2021, on the basis of primary package types, blister packs held for the biologics CDMO secondary packaging market's largest share of approximately 40%, and also projected to show the highest CAGR in the coming few years. This is due to they utmost significant king of packaging boxes for which the main part of the CDMOs offer secondary packaging services. Blister packing is a feasible solution for the sensitive nature of biologics, because of its adaptability and transparency.

North America held the largest market share, of above, 40%, in 2021. This is mainly because of the increasing outsourcing of drug research and development and manufacturing actions by biopharma companies.

Numerous businesses are wishing to team up with skilled packing providers that offer up-to-date packaging solutions and have the vital capabilities to create unique packing designs in a lucrative and time-efficient manner.

The APAC industry is projected to experience the fastest development in the coming few years. Mainly because of the increasing occurrence of chronic diseases, the growing concentration of businesses on contract engineering, and key players showing robust attention to facility extension in the APAC.

Hence, the rising pharmaceutical market, snowballing making of drugs, and the increasing occurrence of numerous diseases, such as infectious diseases, chronic diseases, and hereditary disorders, are the major factors, contributing to the growth of the biologics CDMO secondary packaging industry. 

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What Exactly are Connected Cars?

In layman terms, cars that you can connect to the internet via a wireless local area network are known as connected cars to make your life simpler. For example, you can remotely control some applications through a mobile phone and can communicate with other products. Moreover, they enable you to have real-time information and link your car with alert emergency services and dealerships in case of accidents.

What Are the Advantages of Connected Cars?

A connected car contains a range of innovative and appropriate specifications providing a range of advantages.

• Provides accessibility to a range of infotainment facilities

• Helps navigation system through third-party applications

• Comprises up-to-date safety features to guarantee the finest road safety

• Enhanced security features keep track of the car even when you are not driving it

• Enables remote accessibility to a variety of functions

Working on Connected Cars

Automobile engineering businesses employ 2 systems in connected cars -

• Embedded connected vehicle technology is armed with an incorporated antenna and a chipset.

• Tethered system is armed with hardware that aids in connecting the driver’s mobile phone with his/her vehicle.

Additionally, a connected car can convey data, connect with other devices and provide Wi-Fi connection to the passengers and driver. Connected technology also can access telematics and is recognized to be suggestively beneficial for EVs.

V2V Communication

Coupled with vehicle-to-vehicle connectivity supports connected vehicles to communicate with one another. This shares vital information, such as speed limits traffic movement, road conditions, and other details.

Environmental-Friendly 

Till today, a huge number of cars function on fuel, growing carbon emissions significantly. In this respect, a connected automobile is an improved alternative. It offers real-time information on people commuting your way waiting for a ride. Thus, you can give them a ride to bring down the carbon emission rate.

Services

Specialists forecast that connected cars will further provide a unified experience. Service stations will remotely inspect your car. The car will notify you regarding nearby parking spaces. Furthermore, enhanced driver support systems will lessen the burdens of driving, and your motor will give you information regarding hotels or restaurants between your route. Also, an electric-connected car notifies about the nearest charging points.

Hence, as the purchasing power of people is increasing globally, the sales of cars are also propelling, which indeed will grow the connected car industry in the future.   

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North America Is Dominating the Minimal Residual Disease Testing Industry

In 2022, the minimal residual disease testing market was worth around USD 1,156.8 million, and it is projected to advance at a 15.1% CAGR from 2022 to 2030, hitting USD 3,570.1 million in 2030, according to P&S Intelligence.

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This development can be ascribed to the increasing occurrence of solid tumors and hematological malignancies. Furthermore, the rising healthcare spending, also the increasing government and private expenditure in minimal residual disease studies, are projected to boost the growth of the market in the future as well.

For minimal residual disease testing, next-generation sequencing and polymerase chain reaction are the most generally utilized methods, mainly because they offer quick and more-precise outcomes than others. Furthermore, businesses are concentrating on the growth of innovative and enhanced assays that will use these methods.

North America led the industry, by generating the largest revenue share, of approximately 45% in 2022, mainly due to high R&D and growth expenditure, the existence of key players, increasing acceptance of technologically enhanced solutions, and the huge number of testing amenities in the continent.

The hematological malignancy category is projected to experience a CAGR of over 16% in the coming few years, mainly because of the increasing occurrence of leukemia throughout the world. In 2022 as per the data issued by the American Cancer Society, around 8,550 new cases of Hodgkin’s lymphoma were identified in the U.S., with 3,970 females, and 4,570 males, along with 920 demises. Moreover, survival rates have significantly amplified in the past, mostly because of the enhancement in the treatment, the effectiveness of which hinge on the stage of cancer.

Hence, the increasing occurrence of solid tumors and hematological malignancies, and also the rising healthcare spending, also the increasing government and private expenditure in minimal residual disease studies, are driving the minimal residual disease testing industry.

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Hemato Oncology Testing Industry is Dominated by Hospitals

The size of the hemato oncology testing market was USD 2,812.7 million in 2022, and it will reach USD 8,594.0 million by 2030, growing at a compound annual growth rate of 15% by the end of this decade, as stated by P&S Intelligence.

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Hematological malignancy frequency has significantly spiked over time. There are numerous individuals who are either suffering from multiple myeloma, lymphoma, or leukemia or in remission. 

The older generation is further susceptible to chronic illnesses and will develop this disease. According to the WHO, between 2010 and 2021, the share of people aged 65 or more in the worldwide population increased from 8% to 10%.

The service category dominated the hemato oncology testing market, with about 65% share. This is due to the increasing occurrence of non-Hodgkin’s lymphoma, multiple myeloma, and leukemia. According to a May 2022 article in HT, yearly, 1.24 million people globally are detected with blood cancers.

North America led the way by generating around 40% of the total revenue. The growing incidence of lymphoma, leukemia, and multiple myeloma, particularly in the U.S., is majorly accountable for this. 

Likewise, a rise in Hodgkin’s lymphoma frequency will promote the industry expansion in the years to come.

Also, the spike in co-development actions, progressions in personalized therapies, and expansion of novel assay tests act as the significant contributors to the progress of the market in the region.

It is due to the increasing cases of various hematological malignancies, the demand for hemato oncology testing will be on the rise in the years to come.

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Medical Power Supply Industry is Dominated by North America

The total revenue of the medical power supply market was USD 1,432.2 million in 2022, which will reach USD 2,394.5 million by 2030, powering at a rate of 6.6% in the years to come, as per a report by P&S Intelligence.

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The use of home-use healthcare devices is on the rise, because of the aging populace's increased tendency for developing chronic diseases. Therefore, an extraordinary boost in house-based healthcare will yield profitable prospects for market players, leading to the expansion of compact and effective supply units.

Moreover, the increased use of moveable and integrated medical gadgets, an increase in the tendency of consumers for the use of healthcare items for home, and an increase in requirement for lightweight, house-based equipment will power the industry.

North America dominated the industry, with over 40% share, in the past. This is for the reason that, the clinical industry is in the phase of transition from a volume-based to a value-based model. 

Furthermore, superior clinical care, better scan detection, shorter stays at the hospital, and the evading of developing ailments are powering the requirement for advanced medical equipment.

Europe followed North America, with around 30% share in the past. A few main factors fast-tracking the growth rate of the European industry are the surge in the occurrence of diseases, improved access to patient care, the obtainability of tech support for healthcare, the increase in the standard of living, and the efficiency of digitally controlled power supply.

Due to the commercialization of the advancement of the medical equipment, the demand for medical power supply will increase considerably in the future.

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North America Dominates the Vascular Patches Industry

The vascular patches market had the revenue of USD 387.3 million in 2022, which will power at a CAGR of 8.1% in the years to come, to touch a value of USD 724.2 million by 2030.

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The main risk for patients now is multi-morbidity, denoting the concurrent occurrence of two or more chronic ailments. Approximately 80% of the adults aged 65 and above have two or more chronic ailments, and 68% have three or more.

The biological category had a larger share of revenue, about 60%, in 2022, and it will maintain its dominance in the years to come. This is because biological variants are extensively used for closing the arteries during cardiac surgeries.

North American vascular patches market dominated with about 40% share, in 2022 as per a report by P&S Intelligence, a market research institution. This has a lot to do with the constant growth in healthcare technologies, fast changing lifestyles, increasing incidence of cardiac ailments and hernia, growing consumption of tobacco and alcohol, rising obesity levels, and increasing substance abuse.

Furthermore, the increasing frequency of product introductions and the commercialization of state-of-the-art treatments power advance of the industry. The region also dominates the market because of the progressions in its healthcare infra and a beneficial insurance compensation situation for vascular treatments.

It is because of the increasing prevalence of vascular disorders, the demand for vascular patches is increasing, and will increase considerably by the end of this decade.

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