Esoteric Testing Industry To Observe Highest CAGR in Asia-Pacific

The esoteric testing market was USD 23,373 million in 2022, and it will grow at a CAGR of 11.70% during 2022–2030, to reach USD 56,643 million by 2030 as per a report by P&S Intelligence. This is because of the increasing incidence of genetic diseases, infectious, and chronic, as well as the rising elderly population.

To learn more about this report: https://bit.ly/3Hhd27U

Moreover, the rise of advanced technologies, for instance, gene sequencing and gene mass spectrometry, which allowed for diagnostic needs and confident diagnoses; and the growing number of tests are driving the industry. 

COVID-19 has increased the need for infection screening centers and RT-PCR tests for the detection of the virus. 

Chronic diseases, including cancer, diabetes, and heart disease, are rising all over the world. Likewise, the incidence of infectious diseases is increasing alarmingly, particularly malaria, dengue, tuberculosis, HIV, and hepatitis B & C. 

The highest CAGR is projected in the genetic testing category, because of the government support for accurate and fast diagnoses, the increasing number of genetic disorder patients, the advancing genetic testing technologies, and rising awareness of genetic testing for cancer and prenatal screening. 

CLIA held the largest share in the industry, and it will remain on top in the future. This is because of its high performance, in terms of accurate detection and effective diagnosis.

On the other hand, the DNA sequencing category will witness the fastest growth, due to the increasing incidence of dengue, AIDS, neurological disorders, cancer, and hepatitis. 

With approximately 36% share, North America was the largest industry in 2022, and it will grow at a significant rate in the future. This is credited to the large population of patients suffering from chronic ailments and the elderly, the existence of leading companies, and the high per capita income and healthcare expenditure.    

APAC will advance with the highest CAGR in the future. It is because of the rising awareness regarding esoteric testing, the increasing focus of companies on expanding their operations in South Korea, Australia, and India, and the mounting incidence of chronic illnesses. 

Due to gene sequencing and gene mass spectrometry, the industry will grow even more in the coming years.

Read More

Metagenomic Sequencing Industry IS Led by North America

The value of the metagenomic sequencing market was USD 1,938 million in 2022, which will grow at a rate of 17.20% during the forecast period, touching, USD 6,899 million by 2030.

To learn more about this report: https://bit.ly/3V9xz43

Drug discovery had the largest share of revenue of over 26%, in 2022, and it will continue like this in the years to come as well. This is due to the increasing research in the pharma and biotech industries for new drug discovery, frequently as part of partnerships amongst the stalwarts of the market and academic institutes.

The clinical diagnostics will grow the fastest by the end of this decade, because of the making of tools and software for genomic research and increasing occurrence of infectious ailments.

The sequencing category had the largest share in the metagenomic sequencing market, and it will continue its dominance in the years to come, told by an expert at P&S Intelligence. 

Sequencing techniques are often used by healthcare organizations and researchers for genetic studies, crucial component of genetic testing. The cost of sequence modeling has decreased by about 28% yearly because of tech advancements, which will power its acceptance.

Data processing & analysis will grow significantly because of the rising intricacies in upholding the read data of billions of sequences.

North America had the largest share, of over 42%, in 2022, and it will power at a significant rate in the years to come. This will be credited to the considerable R&D activities in the pharma and biotech sectors, increased the risk of diseases, presence of trustworthy healthcare businesses, and support for the initiation of new R&D facilities.

Furthermore, Europe is growing considerably in the acceptance of this technology as a result of the incidence of prominent market participants. As well, the partnerships between government organizations and the sequencing solution providers are accountable for the advance of the industry. It is also thriving because of the obtainability of cutting-edge genomic sequencing technology.

Due to the increasing incidence of genetic and infectious disease, the demand for metagenomic sequencing systems will grow even more by the end of this decade.

Read More

North America is Dominating Empty Capsules Industry

In 2022, the global empty capsules market was worth around USD 2,818 million, and it is projected to advance at a 7.10% CAGR from 2022 to 2030, hitting USD 4,879 million by 2030, according to P&S Intelligence.

To learn more about this report: https://bit.ly/3L7U9p4

This growth can be credited to the rising acceptance of encapsulated medications among the elderly populace and the subsequent high demand for empty shells in the pharmaceutical, nutraceutical, and cosmeceutical industries. 

Furthermore, the increasing number of research and development initiatives by companies and governments for novel medications and molecules, the growing count of medical trials, and forward-moving drug delivery technologies are boosting the industry.

Nutraceutical items, numerous of which are formed from whole grains, are typically rich in fiber, antioxidants, omega-3 fatty acids, vitamins and minerals, and heart-healthy ingredients. In recent years, the need for nutraceuticals has swiftly augmented because of the increasing occurrence of non-infectious illnesses, including diabetes, cancer, lung disorders, and heart ailments.

In 2022, the immediate-release category generated a higher revenue share, and also the category is projected to be in the leading spot throughout the projection period. This can be credited to the fast-release form is extensively used for making painkillers, antacids, antibiotics, and several other types of medications, credited to its benefit of the fast onset of action.  

This form offers an immediate breakdown of the capsules in the stomach, after incorporation. Decreasing the breakdown time advances the rate at which medications dissolve. Moreover, it is extensively utilized for making dietary supplements.

In 2022, with approximately 37%, market share North America dominated the empty capsules market, and is also projected to be dominant in the future as well. This can be credited to the presence of a substantial count of businesses with high-volume capsule manufacturing abilities and the utilization of this dosage form by a count of pharmaceutical titans.

Hence, the rising acceptance of encapsulated medications among the elderly populace and the subsequent high demand for empty shells in the pharmaceutical, nutraceutical, and cosmeceutical industries. Furthermore, the increasing number of research and development initiatives by companies and governments are the major factors propelling the empty capsules market. 

Read More

5G NTN Market Will Reach USD 25,184 Million by 2030

The size of the 5G NTN market was USD 3,495 million in 2022, and will reach USD 25,184 million by 2030, progressing at a rate of 28% in the years to come

This is because of the growing 5G infra, increasing requirement for low latency connectivity by the consumers in urban and out-of-town locations, high-speed, growing mobile data traffic, and mounting government efforts for improving 5G’s reach to the people.

LEO satellites will grow the fastest in the future, because of the need for enhanced network coverage, high expenditure by government and tech giants, and the growing trend of integration of 5G in satellite communications. 

Also, the LEO component can also improve services, such as tracking containers, and cutting-edge drone operations.

Aerospace and defense will grow the fastest in the future. This is owing to the high spending of the government on the defense sector, increasing tech advancements for personnel safety and pin-point accuracy, and rising rate of digitization.

Furthermore, maritime industry is a significant contributor in the market because of the fact that the sector is suffering from an absence of connectivity and path visibility. With ships plying on the ocean, they don’t always have dependable connectivity, resulting in an unbalanced supply chain of commodities, further creating the necessity for continuous 5G connectivity.

Solutions dominated the 5G NTN market in 2022, and the trend will continue in the future as well. 

This is because of the growing requirement of operators for delivering exceptional connectivity, with the use of 5G-based technologies, accompanied by lower cost of expenses; and the increasing count of players offering test solutions for inspecting the affordability, reliability, and efficiency of the system before launching them into the space. 

Furthermore, companies invest profoundly for performing these tests, which further powers the requirement for the related solutions.

North America led the industry in the past, and the trend will continue like this in the years to come as well, as stated by P&S Intelligence. This has a lot to do with the presence of numerous players emerging and offering 5G communication solutions, and high 5G use.

APAC will grow the fastest with a rate of about 30% by the end of this decade, as a result of the increasing use of internet, mounting requirement for improved network connectivity, budding base of the consumers for high-speed internet, increasing investment by international players and governments in the telecom industry, and growing number of satellite launches.

It is because of the deployment of the 5G infrastructure all over the globe, the demand for 5G NTN will continue to grow in the years to come.

Read More

Digital Isolator Market To Touch USD 4,135 Million by 2030

The digital isolator market revenue was USD 2,169 million in 2022, and it will reach USD 4,135 million by 2030, powering at a rate of 8.4% by the end of this decade, as per a report by a market research institution, P&S Intelligence.

The industry is powered by the strict battery safety requirements for vehicles, rise in the requirement for noise-free electrical and electronic devices, and increase in the acceptance of digital isolators as substitutes to optocouplers.

The capacitive coupling technology dominated the industry in the past. The benefits of using a capacitive isolation barrier are size and energy transfer competence and resistance to magnetic fields. 

The former allows low-power and lucrative integrated isolation circuits, while the latter allows operations in dense magnetic fields. Variants making use of this technology can reduce the likelihood of poor physical contact between two circuits as a result of vibrations, corrosion, and other factors. 

Therefore, the steadiness and steadfastness of the data transferred between the circuits advance.

Automotives dominated the market, with a share, of about 36%, in 2022. With electronic engine control systems, vehicles have altered from a mere physical incorporation of mechanical systems into a complex system of sensors, microcontrollers, and other electronic components. 

Automotive designers are quickly adopting this new technology and increasing their skillset for including more electronic apparatuses in their models.

APAC had the largest share, of about 40% in the digital isolator market, in the recent past, as the Peoples Republic of China is the center for the manufacturers of electronic devices and numerous other equipment. 

The revenue of the electronic component manufacturing sector in China increased at a rate of 5.5% annually over the previous half of a decade, attaining around USD 0.3 trillion in 2022. 

The nation is the hub of the manufacturing of electronic products, as well as TVs, PCs, and handsets.

North America had a considerable share, of about 31%, in 2022, credited to the snowballing sales of EVs, with automotive producers aggressively trying to increase their acceptance. 

In 2022, over 0.8 million electric vehicles were sold in the U.S., with Tesla being the leader of the market with over 60% of the total sales. 

At present, only about 1% of the 250 million cars, SUVs and LCVs in the nation are electric, and it is projected that by 2030, their share in the total electric car count on the roads will surge to 25–30% and, additionally, to 40– 45% by 2035.

The strict safety requirements for the automotive batteries globally have a lot to do with the continuously growing demand for digital isolators, all over the world.

Read More

Automotive Air Suspension Market Will Reach USD 10,805.66 Million by 2030

The automotive air suspension market will grow at a rate of 6.25% in the years to come, to reach a value of USD 10,805.66 million by 2030. This is because of the growing requirement of commercial automobiles accompanied by the comfort of the vehicle and safety which ultimately derive the requirement for the air suspension system specially in heavy vehicles.

Passenger cars had the largest share of over 50% in the past. This is because of the requirement for the greater comfort for the drivers, less deterioration on the suspension system which can ultimately decrease the severity and vibration of heavy-duty driving producing fatigue and less discomfort.

Air suspension passenger cars have a better transportation capacity due to the fact that these components advance the level and grip the suspension as a whole. 

Additional expansions are starting to contain ECUs able to fit beneath the car floorboard, increasing the usage of air suspension in usual driving.APAC automotive air suspension market was dominant in the past, as stated by a market research professional at P&S Intelligence. Post pandemic, the region is developing majorly as a result of the recommencement of the offices which ultimately surge the requirement. 

The customers are preferring premium vehicle including superior components for getting the quality rides from their cars, leading OEMs to contain air suspension systems more often in their designs. 

Europe will have the fastest growth in the industry, in the coming years. This has a lot to do with the increasing requirement for comfortable public transit, which will improve the growth of the market in the years to come. France and Germany are the two major manufacturing hubs for the automotive stalwarts in the region.

People now demand more comfort and safety in the commercial vehicles all over the world, and this has a lot to do with the continuously increasing demand for automotive air suspension solutions in the years to come.

Read More

Product Lifecycle Management Market Will Reach USD 59,466 Million by 2030

The total value of the product lifecycle management market was USD 31,655 million in 2022, and it will rise at a growth rate of above 8.20% shortly, reaching USD 59,466 million by 2030, according to P&S Intelligence.

This growth can be credited to the increasing requirement for the smart management of items at manufacturing locations, technological improvements in additive building, and increased reality and growing need for item design and innovation channels.

Furthermore, the increasing demand for scalability and smart IT applications in different sectors, such as automotive and electronics, is likely to propel lifecycle management-based solutions and service demand.

The addition of ML with item lifecycle management software provides the operator with a more-insightful understanding of the information composed over years on a specific item. 

Artificial intelligence further supports PLM software to extract and use resourceful information, advance suggestions, design a forecast, and execute take prolific decisions about product growth.

In 2022, the software category had considerable industry share, since management software permits establishments to handle the huge data produced across the lifecycle of the product in a well-organized and lucrative manner. This software controls the procedure from the primary idea and growth to final removal in numerous sectors, like transportation and automotive, aerospace and defense, heavy equipment and industrial machinery, and healthcare.

In 2022, the cloud category had the larger share, of 72%, as cloud-based PLM permits operators to safer access product lifecycle management information from any place, at whatever time, and on any electronic device.

Cloud deployment has become the favored deployment model for lifecycle management software because of the security, control, flexibility, and scalability it provides over information. It also aids in removing the main challenges of implementing, informing, and customization.

In 2022, North America had the largest share, as Canada and the U.S. showcase advanced acceptance rates for novel technologies and substantial expenditure by the government.

Furthermore, the continent’s robust economic position helps businesses in spending on progressive telecommunication technologies, IoT, LTE, 5G, augmented reality, and additive manufacturing, for well-organized business processes. 

Moreover, the infrastructure improvements, which allow these technologies to work as wanted, boost the development of businesses like Oracle, Autodesk Inc, IBM, Ansys, and Arena in the continent.

Furthermore, APAC is projected to display substantial development in the coming few years, of approximately 9%, because of the widespread digitization of the procedures in numerous industries, mainly in China and India. Additionally, the region is a center of businesses such as telecommunications, automotive, and electronics.

Hence, the increasing requirement for the smart management of items at manufacturing locations, technological improvements in additive building and increased reality, and the growing need for product design and innovation platforms are the major factors contributing to the growth of the product lifecycle management market. 

Read More