How Is Surging Health Awareness Increasing Usage of Medical Adhesives?

The adoption of medical adhesives is increasing, owing to the surging health awareness and enhancing macroeconomic factors in developing countries, across the world. Over the years, the economic conditions of India, Brazil, and China have significantly improved, on account of the rising gross domestic product (GDP) of these countries. Economic betterment has fueled the demand for medicines, medical devices and equipment, personal protective equipment (PPE) kits, and pharmaceutical products in these nations. Producers of these medical products require adhesives to provide accurate structure and strength to these items. 

Moreover, the outbreak of COVID-19 has amplified the need for medical products like PPE kits, masks, syringes, and blood and saline tubes, which require adhesives in large quantities. The increasing requirement for such products, on account of rising impact of this pandemic will fuel the market for medical adhesives at 2.3% CAGR during 2020–2030. The market was valued at $8,714.9 million in 2019 and it is projected to reach $16,367.2 million by 2030. To contain the spread of the virus, hospitals and outpatient facilities are using disposable medical products in abundant quantity.

Globally, the medical adhesives market will demonstrate lucrative growth in North America in the future, as per the estimates of the market research company, P&S Intelligence. This will be due to the rising demand for various medical devices, needles, equipment syringes, surgical sutures, thermometers, stretchers, first-aid kits, and personal protective equipment in the region. Moreover, with the boom in the population, the sales of these medical products are predicted to surge sharply in this region in the coming years.

Hence, it is safe to say that the demand for medical adhesives is predicted to shoot-up all over the world in the forthcoming years, mainly because of the rising requirement for various medical devices, on account of the increasing demand for surgeries and the rising incidence of hospital-acquired infections and chronic diseases across the world. 

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Increasing Oil & Gas Exploration Fueling Surge in Global Low Strength Proppants Market

The global low strength proppants market generated a revenue of $3,713.3 million in 2019, and it is predicted to attain a value of $5,294.8 million by 2030. Furthermore, the market will progress at a CAGR of 9.8% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the surging exploration & production (E&P) activities and rapid technological advancements in crude oil discovery.

Over the last few years, North America has witnessed a sharp surge in oil & gas E&P, with the U.S. alone accounting for around 80% of the newly drilled wells in the region. Canada is also garnering pace with the opening up of its several shale reserves for commercial exploration. These exploration activities are propelling the demand for low strength proppants, due to the fact that these proppants can increase the flow of gas or oil during the hydraulic fracturing process.

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Across the globe, North America dominated the low strength proppants market between 2014 and 2019, due to the presence of a large number of drilled wells and the discovery of numerous unconventional gas and oil reserves in the region. Additionally, the huge requirement for low-density proppants in the regional countries for extracting resources from both conventional and unconventional reserves also contributed toward the growth of the market in this region.

Hence, it can be said without any hesitation that the market will surge in the coming years, primarily because of the increasing oil and gas E&P activities and the rapid technological advancements being made in crude oil discovery in several countries around the world.

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Demand for Agricultural Adjuvants Set to Surge in North America in Coming Years

With the boom in the global population level, the demand for food products is rising rapidly across the globe. As per the Population Division of the United Nations Department of Economic and Social Affairs (UNDESA), the total population of the world was 7.6 billion in 2017. Furthermore, the organization estimates that the global population will rise to around 9.8 billion by 2050, registering a growth of 30.9% over the next 33 years. 

Moreover, the growing requirement for food items is causing rapid advancements in agricultural technologies and fueling the soaring usage of agrochemicals such as pesticides, insecticides, and herbicides and adjuvants in farming processes. Due to these factors, the global agricultural adjuvants market is exhibiting huge expansion. As a result, the market value is predicted to increase from $3,106.7 million in 2019 to $5,485.1 million by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 5.5% between 2020 and 2030.

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Brandt Consolidated Inc., Croda International PLC, Wilbur-Ellis Holdings Inc., Stepan Company, and Clariant AG are some of the major players operating in the North American agricultural adjuvants market. Additionally, only a few states in this region such as Idaho, California, and Washington have strict regulations regarding the usage of agricultural adjuvants. Furthermore, the absence of any strict regulations or opposition to the regulation, development, and usage of agricultural adjuvants is massively boosting the sales of these materials in this region.

Hence, it is safe to say that the demand for agricultural adjuvants will soar all over the world in the forthcoming years, primarily because of the rising demand for food products and higher crop yield in several countries around the world.

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Traditional Wound Dressings Being Preferred over Traditional Products

Wounds are among the most-common signs of a physical injury, and they also help in ascertaining how serious the injury is. From an often-harmless friction burn to those so deep that they expose the bone, wounds are of different types and severity, therefore require varying degrees of medical care. Apart from physical injuries, surgeries are a major cause of wounds, as such procedures mostly involve cutting into the flesh to access a bone, muscle, or organ.

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Thus, with the increasing volume of surgeries, the incidence of acute and chronic wounds is rising. P&S Intelligence considers this to be a crucial factor in the growth of the wound dressing market from $11.4 billion in 2017 to $17.3 billion by 2023, at a 7.2% CAGR between 2018 and 2023. Apart from helping the wound heal, dressing is also supposed to protect it from becoming infected by microbes, which can not only delay the healing process but also make the wound worse.

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Currently, a range of advanced and traditional wound dressings are available around the world, with advanced dressings finding the higher adoption. This is because these products display higher efficiency, a shorter healing duration, and fewer chances of infection compared to traditional dressings, such as gauzes, bandages, abdominal pads, and sponges. The types of advanced wound dressing available include wound contact layers, foams, alginates, hydrocolloids, collagen, hydrogels, films, Hydrofiber, and superabsorbents. Among these, superabsorbent dressings are expected to gain popularity rapidly in the future, owing to their appreciable healing ability.

With time, these advanced dressings are being improved further, to allow for more convenience and better healing. For instance, smart bandages, which are integrated with microprocessors, are quickly becoming popular. This is because these products can release specific doses of multiple drugs at a time, to allow for more-effective healing. Additionally, the temperature and pH of the wound and the area around it can be ascertained with the help of sensors embedded in these smart dressings.

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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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