What are Major Factors Driving Growth of Hospital Bed Market?

 “Noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 71% of all deaths globally.”, says the World Health Organization (WHO). A lot of such diseases, especially cancer, chronic obstructive pulmonary disease (COPD), neurological disorders, and many cardiovascular diseases (CVDs), cannot be cured by medication. The proper management and treatment of such issues often require long-term hospitalization; therefore, their increasing prevalence is leading to the rising footfall at medical centers.

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This is leading to the growing number of hospital beds available, which are themselves undergoing technological advancements. Evolving from simple beds with almost no electronic features, the hospital beds of today have a comprehensive control panel that enables patients to change their height and the angle of the footrests and headrests. This also helps doctors, as many medical procedures mandate a certain posture. Moreover, the controls on the bed allow people to sound an alarm if the condition of the patient suddenly deteriorates, for instance, they start to seize or go into anaphylactic shock. 

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The technological advancements have resulted in the availability of numerous kinds of hospital beds, including pediatric, bariatric, birthing, VIP, pressure-relief, perinatal beds for babies, and psychiatric beds. Among these, general beds are the most common in hospitals, as they are cost-effective, which is why they are widely used in clinics, homecare and elderly care settings, nursing homes, and diagnostic centers too. Among these, hospitals are the largest end users of beds, as these places witness the highest patient footfall, owing to the advanced equipment, trained staff, and comprehensive services they offer.

Therefore, as the disease incidence grows and governments do more than ever to increase the accessibility to holistic medical care, the demand for hospital beds will shoot up.

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Diagnostic Imaging Systems Market to Witness Robust Growth in Coming Years

The surging geriatric population in several countries is one of the major factors fueling the demand for diagnostic imaging systems across the world. As per the 2019 World Population Ageing report published by the UN, the total population of people all over the world in the age bracket-65 years or above is soaring rapidly. Furthermore, their population is predicted to rise from 703 million in 2019 to 1.5 billion by 2050. 

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The governments of many countries are making huge investments for improving and developing their healthcare infrastructure. For instance, as per the World Bank, the healthcare expenditure of Brazil, India, China, and the U.S. was 7.9%, 3.2%, 4.2%, and 16.4% of the GDP, respectively, in 2010 and this increased to 9.4%, 3.5%, 5.1%, and 17.0% respectively in 2017. This subsequently pushed up the demand for diagnostic imaging systems in these countries.

Due to the above-mentioned factors, the sales of diagnostic imaging systems are growing rapidly, which is, in turn, driving the advancement of the global diagnostic imaging systems market. According to the estimates of P&S Intelligence, a market research company based in India, the valuation of the market will rise from $38.9 billion in 2019 to $70.0 billion by 2030. Furthermore, the market is predicted to progress at a CAGR of 5.8% between 2020 and 2030.

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Geographically, the demand for these systems was found to be the highest in North America during the last few years. This was because of the high incidence of chronic diseases, the presence of several hospitals and diagnostic centers, and the high healthcare expenditure in the regional countries. However, in the future years, the sales of diagnostic imaging systems are predicted to boom in the Asia-Pacific region, primarily because of the growing prevalence of chronic diseases in the region.

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How Is Packaged Food Consumption Boosting Polyester Hot Melt Adhesives Market Growth?

Growth in the packaging and automobile sectors will drive the polyester hot melt adhesives market at 5.3% CAGR during 2020–2030. The market value will increase from $473,057.2 thousand in 2019 to $717,152.6 thousand by 2030. Currently, the market is observing a shift away from traditional stitching to the hot bonding technology, owing to the mushrooming awareness about the advantages of hot melt adhesives in the textile industry. The coating of such adhesives on materials offer water resistance and no sewing is needed, which make them ideal for bonding of linen, wool, polyester, and leather.

The application segment of the polyester hot melt adhesives market is classified into packaging, heat seal coating, industrial assembly, textile lamination, electrical and electronic component manufacturing, and others. During the forecast period, the industrial assembly category is expected to lead the market, due to the rising shift toward the adoption of these adhesives from mechanical fasteners, to reduce the overall weight of vehicles, machines, and equipment. Traditionally, the mechanical fasteners were utilized to join parts and components, which led to the high weight of the machines and vehicles. 

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In recent years, players in the polyester hot melt adhesives market have started entering into mutual agreements and building partnerships to improve their market position. For example, in September 2019, Bühnen GmbH & Co. KG announced its partnership with GLS Products LLC in the U.S. Under this partnership, the former aims to enhance its hot melt adhesives business in North America. Other companies adopting these key strategic measures include Henkel AG & Co. KGaA, Qidong Xinxin Hotmelt Adhesive Co. Ltd., H.B. Fuller Company, Sika AG, Bostik S.A., and Mitsubishi Chemical Corporation.

Geographically, the Asia-Pacific region held the largest market share in 2019 and it is likely to maintain the same trend in the forecast years. This is attributed to the increasing consumption of polyester hot melt adhesives for industrial assembly applications, such as bonding of automotive components and electrical and electronic items. Moreover, the growth of the end-use sectors in emerging economies like India, Vietnam, China, and Thailand will also raise the consumption of these adhesives in the future. 

Thus, the mounting demand for packaged food and beverages, medical products, and lightweight machines and vehicles will propel the market growth in the coming years.

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Surging R&D Activities in Protein Research Propelling Demand for Protein A Resins

 The surging investments being made in protein-based research and development (R&D) activities are causing a sharp surge in the demand for protein a resins across the world. Many private and public organizations are making huge investments in protein-based research programs for improving therapeutic approaches. For example, the National Institute of Health (NIH), which is a medical research center located in the U.S., invests around $32.3 million in medical research every year.

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As per the United Nations Population Fund, people in the age bracket- 60 years or above account for as much as 12.3% of the total population of the world. Moreover, this share is predicted to rise to nearly 22% by 2050. The rising incidence of chronic diseases is also augmenting the requirement for novel therapeutic processes for better and more effective disease management. The growing demand for novel therapeutic procedures is propelling the worldwide requirement for protein a resins. 

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Between these, the demand for the recombinant source was found to be higher during the past few years. This was because of the high requirement for protein a resins in antibody purification processes. Antibody purification and immunoprecipitation are the major application areas of protein a resins. Of these, the usage of protein a resins will rise enormously in antibody purification processes in the coming years, on account of the growing requirement for antibodies, especially monoclonal antibody for various therapeutic purposes.

Geographically, the protein a resin market is predicted to register the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years. This will be a result of the mushrooming usage of protein a resins for drug discovery, rapid technological advancements, and the increasing number of research and development activities being conducted in the life sciences domain in this region. In APAC, the usage of protein a resins was observed to be the highest in Japan in the past.

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How will Increasing Livestock Propel Growth of Protein Extracts from Single Cell Protein Sources Market in Asia-Pacific till 2023?

 Soaring number of initiatives by governments and private organizations for creating awareness amongst the people about the health and environmental benefits of alternative protein sources is one of the major factors responsible for the rise in the demand for protein extracts from single cell protein sources across the world. For instance, Valensa International, which is a major producer of microalgae-based nutraceuticals launched an alliance with a U.S. based trade organization called Algae Biomass Organization (ABO) in 2017 in order to create awareness amongst the masses about the consumption of microalgae as an alternative protein source.  

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The surging population of livestock and cattle including sheep, goat, and buffalo, has boosted the production of animal feed, which has in turn, propelled the need for animal protein. As per the International Feed Industry Federation (IFIF), the total worldwide production of compound feed was recorded to be 1.0 billion tonnes in 2016. Therefore, it can be said that owing to the increasing production of compound feed, the production of protein from various alternative sources such as animals, microbes, and plants will also increase in future. 

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The Asia-Pacific (APAC) region is expected to register the fastest growth in the demand for protein extracts from single cell protein sources in the near future. The main factors responsible for this rapid growth are the escalating production of livestock and the subsequent rise in the need for animal feed. The consumption rate of protein is high in the region, owing to the high livestock production rate and this consequently pushes the demand for alternative protein sources, thereby driving the growth of the protein extracts from single cell protein sources market in the region. 

Therefore, it can be said with full surety that owing to the increasing consumption of protein by livestock, animals, and people and increasing awareness amongst the masses about alternative protein sources, the demand for protein extracts from single cell protein sources will boom in future.

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Solar Panel Sales Set to Climb in Asia-Pacific in Coming Years

Since the last few years, there has been a drastic shift toward the adoption of solar energy in various commercial, residential, and industrial applications across the world. This is mainly because of the environment-friendly characteristic of solar energy and the rising awareness amongst the public about the environmental degradation caused due to the burning of fossil fuels for power production. Furthermore, the rising implementation of government incentives in several countries for promoting the usage of solar panels, and the declining costs of key parts are boosting the sales of solar panels across the globe.

In addition to the aforementioned factors, the surging adoption of energy storage grid and the rising requirement of photovoltaic panels in the rooftops of residential buildings are also boosting the demand for these panels all over the globe. As a result, the global market for solar panel is predicted to demonstrate huge expansion during the coming years. Concentrated solar power systems and photovoltaic cells are two main types of solar panel technology used across the world. Of these, the adoption of concentrated solar power systems will increase at a faster rate in various applications in the future years.

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Additionally, the usage of low concentrated photovoltaic systems and high concentrated photovoltaic systems will increase tremendously over the next few years. Solar panels are widely used in power utilities and also in various industrial, residential, and commercial buildings. Out of these, the usage of these panels is predicted to be significantly high in residential applications in the upcoming years, mainly because of major government support in many countries, primarily in the form of investments and helpful policies. 

In the near future, the Asia-Pacific solar panel market is predicted to be very lucrative, according to the forecast of P&S Intelligence, a market research firm based in India. This is credited to the declining costs of solar modules, increasing public awareness of energy efficiency, and the enactment of favorable regulations and policies by the governments of several APAC nations. Furthermore, the increasing government initiatives being taken, in the form of feed-in-tariffs and subsidies on PV systems and the increasing solar power-producing capacity will lead to high sales of solar panels in the region in the forthcoming years.

Thus, with the growing popularity of solar energy and the increasing government support for the installation of solar power systems, the sales of solar panels will shoot-up all over the world in the years to come.

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How is Rising Use of mHealth Driving North American Patient Engagement Solutions Market?

The ballooning usage of mobile health solutions is pushing up the requirement for healthcare apps. Moreover, these solutions are fueling the surging adoption of e-prescriptions and electronic health records (EHR), that use cloud for storing health data. Because of this reason, the growing usage of mobile health solutions is positively impacting the demand for cloud-based patient engagement solutions in North America. As per a study conducted by the Pew Research Center, around 77% of Americans are smartphone users.

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The increasing population of geriatric people is pushing up the requirement for technologically advanced healthcare and medical solutions, on account of the fact that the geriatric people are highly vulnerable to various chronic diseases and are usually not able to travel frequently for medical treatment. Cloud-based patient engagement solutions are allowing them to seek healthcare and remain connected with medical practitioners at all times without physically traveling to the healthcare facilities. 

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As per the 2017 World Aging Population report produced by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people in the age bracket- 60 years or above in the U.S. was 69.7 million in 2017. Moreover, as per the report, this number is predicted to increase to 108.4 million by 2050. This will massively boost the demand for patient engagement solutions in the country in the coming years. 

Web-based, cloud-based, and on-premises are the main three types of methods via which the patient engagement solutions are deployed in the region. Out of these, the usage of web-based delivery mode is predicted to be the highest in the forthcoming years. This would be because the web-based delivery mode can be easily accessed both offline and online, unlike the cloud-based one, which requires the availability of high-speed internet for access. 

The North American patient engagement solutions market recorded the highest growth in the U.S. in the years gone by and this trend is predicted to continue in the upcoming years as well. The rapid market advancement in the country will be driven by the existence of advanced and well-established healthcare infrastructure, the increasing presence of numerous healthcare IT solution providing organizations, and the growing incidence of chronic diseases in the country.

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