COVID-19 Driving Demand for Various Medical Gases and Related Equipment

With the burgeoning population and high rate of urbanization, the number of people visiting various kinds of medical centers is increasing every year. This is because, while moving to the cities has certainly raised people’s living standards, the new environment has created a number of problems as well. Air, soil, and water pollution, stressful life, unhealthy dietary habits, and many other issues have led to a rapid rise in the prevalence of all types of diseases. Then, there are crimes and road accidents that cause serious injuries. 

To cater to the increasing number of people in need of medical care, countries around the world are augmenting their healthcare expenditure, so that new facilities can be constructed, the existing ones can be upgraded, and staff can be hired. According to P&S Intelligence, this factor will likely propel the medical gases and equipment market size from $12,607.2 million in 2015 to over $21,600.0 million by 2022, at an 8.0% CAGR between 2016 and 2022. Numerous pure gases and mixtures of gases are used in various applications in healthcare centers, including direct patient care (acute and extended life support, surgery, diagnostics, and anesthetization), laboratories, and device sterilization.

Apart from beds and ventilators, almost all other hospital supplies, including the gases and the equipment used to store and dispense them, are running out. Therefore, countries across the globe are spending like never before to secure essential supplies, which has been driving the demand for medical-grade oxygen and associated equipment. Since COVID-19 is essentially a respiratory infection, ventilators and oxygen have become extremely important in today’s world, in order to save lives. For instance, the Indian government started setting up 246 oxygen production plants across the country.

Hence, as the number of people visiting healthcare facilities increases, the demand for various gases used here, especially the life-giving oxygen, will grow too.

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Why is Middle Eastern Dermal Fillers Market Booming in Saudi Arabia?

 The soaring geriatric population is one of the major factors propelling the demand for dermal fillers in the Middle East, owing to the fact that with increasing age, the body starts registering reduction in glandular and vascular tissues and loss of fibrous tissue. As per the United Nations Department of Economic and Social Affairs (UNDESA), the share of the people aged 60 years and above in Saudi Arabia is expected to be 25% of the total population of the country by the end of 2050.

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The other major factors fuelling the rise in the demand for dermal fillers in the Middle East are the increasing prevalence of skin diseases, rising disposable income of the people, and soaring awareness about scar treatment amongst the people, in the region. In several Middle Eastern countries such as the U.A.E., the climate remains hot and sunny throughout the year and this causes a high occurrence rate of skin ailments and problems such as summer rash, sun burn, dry skin, and summer acne amongst the people, which in turn, boosts the demand for dermal fillers in the country.

Driven by the above-mentioned factors, the value of the Middle Eastern dermal fillers market is expected to rise from $34.3 million to $67.7 million from 2017 to 2023. The market is set to advance at an 11.9% CAGR during the forecast period (2018–2023). There are multiple types of dermal fillers available in the market — hyaluronic acid-based, synthetic polymer-based, hydroxylapatite-based, and collagen-based fillers. Amongst these, hyaluronic acid-based fillers are expected to record the fastest growth in utilization in the various Middle Eastern countries during the forecast period, as they hydrate the skin and raise the skin volume by attracting water.

In the Middle East, Saudi Arabia has been observing the highest usage of dermal fillers since the last few years. This is primarily ascribed to the rising demand for cosmetic surgeries and procedures and the easy availability of skilled medical practitioners, capable of performing dermal filler procedures, in the country. In addition to this, the country is expected to observe huge growth in the geriatric population in the coming years, which will massively boost the demand for dermal fillers in the country in future. 

Therefore, it can be said without any hesitation that owing to the rising incidence of skin diseases and ailments and the mushrooming geriatric population, the demand for dermal fillers will shoot-up in the region in the coming years.

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Urology Surgical Instrument Market to Reach $13.7 Billion by 2023

The prevalence of urinary tract infections (UTI) is growing rapidly, primarily in women. UTIs are among the most frequent clinical bacterial infections in women and account for about 25% of all infections. Approximately 50–60% of women develop UTIs in their lifetime. The infection is caused by Escherichia coli in most patients. Usually, the urinary tract is sterile, however, bacteria may rise from the perianal region and can led to UTI. Pathogens in the bladder can cause irritative symptoms such as urinary urgency and frequency or can be silent. In cases where the bacteria enter the blood stream, they could cause severe complications, including chock, septicemia, and rarely death.

Out of all these, consumable and accessories were the most in demand in the past. There are a number of consumables and accessories, such as needle forceps and needle holders, guidewire, surgical dissectors, stone basket/retrieval device and extractor, drainage bag, catheter, dilator set and ureteral access sheath, stent, fluid flushing device, connecting tube, clamp, overtube, and distal attachment, and biopsy device. Guidewires were the most in demand in the past, which is ascribed to their features such as easy advancement, precise control during surgical procedures, smooth tracking, and maximum manoeuvrability. 

When geographic scenario is taken into consideration, the Asia-Pacific region is predicted to emerge as the fastest growing urology surgical instrument market in the years to come, which is particularly ascribed to the rising awareness regarding urological disorders, expanding healthcare industry, and leading medical tourism destinations in the region. Moreover, the demand for these instruments in the emerging economies, such as India, Indonesia, and Philippines, is growing due to the rise in their gross domestic product. 

In conclusion, the requirement for urology surgical instruments is rising all across the globe because of the growing prevalence of UTIs and CKD.    

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Deployment of Fully Autonomous Vehicles Augmenting IoT Adoption in Automotive Sector

Internet of Things (IoT) refers to an integrated system that comprises machines, people, computing devices, and other devices that allow data sharing among them, over a defined network. As the automotive sector is observing a significant technological shift, automakers across the world are integrating this technology in their vehicle models.  With the surging customer preference for a convenient driving experience and seamless connectivity, automobile manufacturers are increasingly incorporating the IoT technology in their offerings. Additionally, the burgeoning need for capturing real-time information by vehicle operators and users is also augmenting the adoption of this technology worldwide.

IoT in Automotive Market - P&S Intelligence

Besides, the increasing shift toward connected cars will also fuel the IoT in automotive market during 2020–2030. Connected cars have internet access and a wireless local area network (LAN), which facilitates the cars to share their information with various devices inside and outside the vehicles. As these cars are mostly dependent on the usage of IoT, the rising demand for connected cars will amplify the need for IoT solutions in the coming years.   

According to P&S Intelligence, North America dominates the IoT in automotive market, with the automotive industry in the U.S. witnessing the large-scale use of IoT solutions. The leading position of the country can be primarily attributed to the constant technological innovations being made in the region, such as advancements in telematics for vehicles. Besides, the presence of leading automobile manufacturers, such as Ford Motor Co. and General Motors Co. and their increasing focusing on developing connected vehicle technologies are also accelerating the adoption of IoT solutions in the automotive industry in the region. 

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Thus, the soaring demand for connected cars and the rising integration of ADAS components in vehicles will augment the need for IoT solutions in the foreseeable future.  

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Surging Construction Activities Driving Demand for Facility Management in Saudi Arabia

With the expansion of the infrastructure industry, the demand for facility management services is surging in Saudi Arabia. The country has witnessed the launch of several construction projects in the recent years, and this trend will continue in the coming years, due to strong government support and the huge investments being made in this industry. For example, the government announced in January 2019 that it intends to invest $426 billion by 2030 for developing industries and infrastructure in the country.

These infrastructural development projects, once completed, will massively push up the demand for facility management services in the country. Besides, the booming tourism industry is also positively impacting the demand for these services in the country. This is because of the soaring requirement for maintaining resorts and hotels, shopping complexes, and various other facilities and also for catering and security, on account of the expansion of the tourism industry in the country.

Furthermore, the Ministry of Tourism in the country announced in June 2020 that it plans to launch a tourism development fund with an initial investment of $4 billion. Hence, it is safe to say that the expansion of the construction and tourism industries is fueling the growth of the Saudi Arabian facility management market, with the market revenue expected to grow from $31,264.1 million in 2020 to $87,216.0 million by 2030.

Amongst these, the property category held the largest market share in 2020, due to the huge demand for routine maintenance and asset management services and for the advertisement of several leasable properties. When mode is taken into consideration, the market is categorized into outsourced and in-house. Between these, the outsourced category will demonstrate the faster growth in the Saudi Arabian facility management market in the upcoming years, as per the estimates of the market research firm, P&S Intelligence. 

Thus, it is clear that due to the increasing construction and infrastructural development activities and the thriving tourism industry, the demand for facility management services will skyrocket in Saudi Arabia in the coming years.

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Revenue Boom Expected in U.A.E. Mechanical, Electrical, and Plumbing Services Market Between 2021 and 2030

The U.A.E. mechanical, electrical, and plumbing (MEP) services market generated a revenue of $3,025.9 million in 2020, and it is predicted to attain a value of $12,946.9 million by 2030. According to the estimates of P&S Intelligence, a market research firm based in India, the market will advance at a CAGR of 15.7% between 2021 and 2030. The market is being driven by the booming hospitality industry and the increasing construction activities in the country.

The expansion of the hospitality industry, on account of the surge in the travel and tourism industry and the huge investments being made in various tourism development projects such as the Sharjah Tourism Vision 2021 and Dubai Tourism Vision, is fueling the growth of the U.A.E. MEP services market. Furthermore, Dubai was listed by the Forbes travel guide in its list of top 20 travel destinations for 2020. This further propelled the market advancement in the country.

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The electric service category is further divided into home automation, UPS systems, lighting design and control, HV/MV/LV substations, building management systems, security systems, telephone, data, and information technology (IT) systems, and audio visual systems sub-categories. Out of these, the home automation sub-category is predicted to exhibit the highest growth rate in the market in the forthcoming years, on account of the surging disposable income of people and their increasing preference for a luxurious lifestyle.

When end user is taken into consideration, the U.A.E MEP services market is categorized into residential, commercial, retail, industrial, healthcare, government, and hospitality. Out of these, the commercial category contributed the highest revenue to the market in 2020. This was due to the existence of several commercial buildings in the country. Moreover, regular MEP maintenance is very beneficial for buildings as it ensures the prevention of various hazards and keeps the occupants safe. 

Hence, it is quite clear that the market will register huge expansion in the years to come, primarily because of the booming hospitality and travel and tourism industries and the launch of extensive infrastructural development and construction projects all over the country.

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Toughening Vehicle Emission Norms Augmenting Automotive Turbocharger Demand

Automotive turbochargers are used to improve the power output and efficiency of an internal combustion engine (ICE) because it compresses exhaust air from the engine and dispense it to the combustion chamber. At present, turbocharging has become the standard for most diesel engines and some gasoline engines. Researchers across the world are still exploring new ways to improve the designs of turbochargers for reducing the manufacturing cost and enhancing the performance of this automobile component. 

Automotive Turbocharger Market - P&S Intelligence

As turbochargers help in increasing the fuel efficiency of vehicles, the rising implementation of stringent emission norms by governments across the world will augment the automotive turbocharger market growth during 2020–2030. For instance, Japan, the United States, and countries outside of Europe have drafted their emission policies on the pattern of Euro 6/ Euro VI norms and the associated mandates for low-sulfur and clean fuels. By adopting this emission standard, such countries can help in reducing the emission of carbon monoxide (CO), hydrocarbons (HCs), HC + oxides of nitrogen (NOx), and particulate matter (PM) from petrol and diesel engines. 

According to P&S Intelligence, the Asia-Pacific (APAC) region is expected to hold the largest share in the automotive turbocharger market in the foreseeable future. This can be primarily owed to the surging adoption of vehicles with compact engine size and increasing implementation of stringent vehicle emission norms in the region. Moreover, the mounting purchasing power of customers in emerging economies, such as India and China will also augment the integration of turbochargers in vehicles in the coming years. 

High volume adoption of turbochargers by the automotive industry in APAC can also be attributed to the largescale production of automobiles in countries such as China and India. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), India produced 3,062,221 passenger vehicles, 624,939 commercial vehicles, and 18,349,941 two-wheelers during the financial year 2020–2021. Moreover, the China Association of Automobile Manufacturers (CIAAM) states that China produced 1,617,000 passenger cars and 424,000 commercial vehicles in May 2021. 

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Thus, the increasing focus on implementing vehicle emission norms, primarily on account of the soaring requirement for reducing air pollution levels, will propel the adoption of turbochargers in vehicles in the coming years.

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