Automated Storage and Retrieval System Market Will Reach USD 15,012 Million by 2030

The total value of the global automated storage and retrieval system market was USD 8,499 million in 2022, and it will rise at a growth rate of above 7.4% shortly, reaching USD 15,012 million by 2030, according to P&S Intelligence. 

With the constant progression and acceptance of unconventional technologies, like machine learning, artificial intelligence, and the internet of Things, the warehousing sector has experienced a great revolution in the past few years.

Warehousing mechanization improves the obtainable storage space, decreases processing time, reduces human mistakes and working expenditures, and advances employee security, therefore putting a massive positive impact, especially in the long run. 

The blend of all these technologies creates the execution of mechanization easier and more valuable. The key trends that aid digital automation comprise the presence of robotics and IoT in warehousing, inventory transportation, and fleet management.

Since its advent, e-commerce has played a vital role in redefining companies' processes throughout the globe, by positively affecting sales and effectiveness. Over the years, the utilization of online sales platforms has grown extensively, and according to a research study, the e-commerce sector value was above USD 4 trillion in 2021. 

China leads the e-commerce industry throughout the world, holding approximately 37% of the world’s digital buyers in 2022.

E-commerce businesses are doing hard work for gaining a greater chunk of customers, by leveraging the trending online shopping conducts. Furthermore, the increasing trade of perishables across e-commerce channels is mounting the demand for cold warehouses to provide high-quality items to clientele. 

Thus, companies are stressing lessening the time taken for order fulfilment mainly for groceries. For this, chilled storage has advanced as a vital part of supply chain management, when it comes to storing temperature-sensitive items.

Credited to the movement of a huge count of products in warehouses, executives are needed in order to keep track of all the items and to dodge inventory shortages because of theft, damage, or spoilage.

Tracking solutions remove possible human blunders and also ensure transparency in the supply chain. Mechanical solutions reply to reduced inventory levels to avert stock lacks, while limiting inventory prices.

In the coming few years, the APAC automated storage and retrieval system market is estimated to experience the highest CAGR, of above 8%. This can be credited to the huge manufacturing and customer bases of ASRSs in South Korea, China, Japan, and India. The main industries in such nations include retail & e-commerce, chemicals, FMCG, food & beverage, automotive, semiconductors, metals & mining, and electrical appliances.

Hence, the industry for ASRS is rising due to the increasing utilization of robots by e-commerce organizations, the growing cold-storage network, and the growing stress on inventory management.

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Why Major Brain Monitoring Market Players Are Focusing on EEG?

With an increasing number of people falling prey to neurological ailments, the worldwide brain monitoring market is expected to reach USD 10,192 million by 2030 from USD 6,159 million in 2022, witnessing a 6.50% CAGR over this decade. Assessing the health and functioning of the brain is vital for people with such conditions, as most of them are not curable, only manageable with proper diagnosis and regular interventions.

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The National Library of Medicine estimates 600 neurological diseases to exist in the world. They greatly impact a person’s behavior and physical health, thus affecting their overall productivity and quality of life. Some of these conditions, including Alzheimer’s, Parkinson’s, ALS, MS, spinal muscular atrophy, and Huntington’s, are specially debilitating.

Therefore, a variety of electrical and radiological techniques are utilized to ascertain how much the brain and its particular areas are affected. Among the major procedures perform to assess brain health, EEGs are the most common. Just like an ECG, an EEG maps the nerve impulses flowing through the brain and represents their intensity as a line graph, much like a seismograph.

The key component of an EEG system is the electrodes, which are affixed at different parts of the head, to measure the intensity of the electrical impulses flowing through the cerebral nervous system. Therefore, electrodes category has held the largest share in the brain monitoring market, under the accessories subsegment, itself within the product segment.

Another brain monitoring technique of a high significance is the MRI, which is widely used for detecting strokes & hemorrhages, lesions, aneurysms, tumors, oedema, increased intercranial pressure, AMVs, cysts, and a range of other abnormalities. A cerebral MRI is of utmost importance when screening for brain cancer, and during the course of treatment, a patient needs multiple MRIs to assess not only the progression of the tumor but also the effect of radiation of chemotherapy.

North America continues to dominate the brain monitoring market on account of its high incidence of neurological conditions. As per official sources, the prevalence of Alzheimer’s and Parkinson’s in the U.S. is 6 million and 90,000, respectively. Further, as per the American Cancer Society, almost 25,000 Americans can expect a brain cancer diagnosis this year, which will continue to push up the volume of MRI, CT, and PET scans.

Hence, as more people suffer from neurological conditions both emanating from and affecting the brain, growth prospects for market players will keep improving.

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Cloud Professional Services Market Will Reach USD 73.3 Billion by 2030

The total value of the cloud professional services market was USD 20.4 billion in 2022, and it will rise at a growth rate of above 17.3% shortly, reaching USD 73.3 billion by 2030, according to P&S Intelligence.

This growth can be ascribed to the increasing acceptance of cloud computing, particularly with the surge in the utilization of remotely employed models during the epidemic, which is boosting the need for cloud-based services.

Consequently, several businesses offer cloud-based services for establishments of all sizes, to support them in managing their cloud infrastructure lucratively. Such services are delivered via numerous tools, frameworks, and practices, which allow businesses to streamline their operations, lessen the total product price, and decrease human faults during manufacturing.

In 2022, the public cloud category held a larger cloud professional services market share, and the category is projected to be dominating the market throughout the forecast period. The public cloud is delivered by a third party over the public internet, which is obtainable for everybody who desires to utilize it.

In this method, numerous resources, like storage and other pieces of the machine, virtual servers, and applications, are obtainable over the web to the operator, to fulfill their requirement for scalability, pay-as-per-utilization valuing strategy, and comfort of deployment.

Worldwide, numerous businesses accepted AI and ML technologies to aid their remotely employed workforces, handle their IT infrastructure, and guarantee suitable functioning during the epidemic. It is now a popular belief that artificial intelligence and machine learning-based cloud applications have the capability to help with data insights, the computerization of physical tasks, and large-scale information analytics.

Thus, annually, nearly 91% of businesses spend on some form of artificial intelligence for some determination. It is also projected that over 44% of private-sector establishments are going to spend on AI by 2030.

In the coming few years, the PaaS category is projected to grow at a significant rate. The requirement for PaaS is growing among companies for increasing productivity, efficiency, security, and speed, which are all main markers of performance. Furthermore, the need is also rising because of the growing need to decrease the time to industry and the expenditures on application development.

In the coming few years, the APAC region is projected to grow at a CAGR of 18.2%. This development can be credited to the support of cloud services, businesses can lessen their functioning expenditures, improve their IT infrastructure, and enhance their operations. The growing demand for mobility and the widespread cloud trends in China, Japan, and India are also boosting the development of the industry.

Hence, the increasing acceptance of cloud computing, particularly with the surge in the utilization of remotely employed models during the epidemic, is boosting the need for cloud-based services.

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5G In Healthcare Market Will Reach USD 147 Billion by 2030

 The 5G in healthcare market was USD 40.2 billion in 2022, and this will reach to USD 147 billion by 2030, proceeding at a rate of 17.6% by the end of this decade, mentioned in one of its reports by P&S Intelligence. 

This is because of the enhancing 5G infra, growing healthcare industry, increasing count of launches of AR/VR devices for medical uses, growing R&D funding by industry players, and growing requirement for high-speed connectivity.

The services category will have higher growth rate in the years to come, of around 19%. This will have a lot to do with the increasing requirement for enhanced connectivity in medical devices for faster and more-dependable data transfer, enabled by the improved-quality mobile broadband and higher frequency offered by 5G services. 

Moreover, the increasing count of new entrants will play an important role in the growth of the category.

ICTs have the likelihood to offer patient-centric care at better the quality of care, low- cost improve data sharing, advise medical specialists and patients on improved treatment methods, arouse a diverse user interface with patients and medical care providers, and minimize travel time.

Healthcare providers dominated the 5G in healthcare market, with a share of 64%, in 2022, and the situation will remain like this in the years to come. 

This will be as a result of the rising pace of progressions in the healthcare sector, growing count of healthcare settings, for example hospitals and ASCs, growing count of patients, mounting requirement for e-medicine, mushrooming acceptance of 5G-integrated wearable devices, and increasing requirement for improved technologies for the quicker sharing and storing of large medical datasets.

Connected medical devices led the industry with approximately 44%, in 2022, and this trend will continue to grow in the years to come. 

This will be attributable to the mounting trend of rising preference of patients for home-based care, telemedicine, rising traction for adapted care, and growing healthcare costs, along with the budding focus of doctors on improving the care quality and patient safety.

North America led the way, with a share of 36%, in 2022, and it will maintain its position in the future. This is attributable to the advanced healthcare infra, high per capita income, increasing count of industry players, tech advancements, and promising government funding for the healthcare industry.

APAC will grow the fastest because of the increasing health consciousness because of the efforts of the government, improving network connectivity, budding electrical and electronics sector, where these kinds of connected devices are manufactured; and growing investment by global players, which is a developing hub for such technologies.

Because of the incorporation of telemedicine and connected medical devices, the demand for 5G in healthcare will continue to grow in the years to come.

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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.

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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.

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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.

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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.

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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.

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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. 

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