How is Western Influence Driving Skincare Devices Market?

 The prevalence of skin-related disorders and skin cancer has been rising since the past few years. As per the WHO, approximately 132,000 cases of melanoma and about 2–3 million cases of non-melanoma skin cancer affect people across the globe every year. Other than this, increased anxiety, stress, tobacco & alcohol consumption, pollution, UV exposure, and unfavorable environmental conditions are leading to the high prevalence skin diseases. Owing to these factors, the demand for skincare devices has also been rising across the globe. 

Attributed to this, manufacturers are also focusing on manufacturing easy-to-use products that can be operated easily at home without needing any technical expertise. Electronics skincare devices, which provide enhanced automation convenience, and consume less time, are being introduced in the market. The increased adoption of these devices in the coming years is expected to result in the growth of the market. Skincare devices can be diagnostic or treatment devices, between which, the demand for treatment devices was higher in the past. 

Out of these, the demand for skincare devices is expected to increase considerably for the skin tightening & body contouring application in the coming years. The prevalence of obesity is surging across the globe, along with the number of people undergoing liposuction, which is creating high requirement for skin tightening. Apart from this, the demand for skincare devices has also been high for the hair removal application in the past, owing to the rising awareness regarding laser hair removal devices among people. The expanding e-commerce industry is also resulting in increasing adoption of home-use hair removal devices. 

Geographically, the skincare devices market is being dominated by North America, owing to the high healthcare expenditure, rising awareness regarding skin problems and their treatment, and increasing per capita income of people. Furthermore, the rising availability of health coverage for skin cancer via Medicaid and Medicare in the U.S. is also resulting in the growth of the regional domain. The Asia-Pacific region is projected to create significant demand for skincare devices in the coming years. 

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Neurostimulation Devices Providing Immediate Relief by Blocking Pain Signals

As per the Parkinson’s Disease Foundation, about 7–10 million people suffer from Parkinson’s disease, globally. In the U.S., each year, 60,000 new cases of Parkinson’s disease are reported. Further, epilepsy is one of the most common neurological disorders and affects people of all age groups.

The World Health Organization said that about 50 million people across the world suffer from epilepsy, and about 2.4 million people are diagnosed with the condition every year. Chronic pain is associated with these diseases and many other conditions and may even be a result of injuries, which greatly affects the way of life. In a study conducted by the International Association for the Study of Pain, it was reported that about 2.8% of the total diabetic population suffered from peripheral neuropathic pain in 2000, and it is predicted to grow to 4.4% by 2030.

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The demand for these devices was the highest in North America among all the regions, namely Asia, Europe, and Rest of the World. This was attributed to the surging geriatric population and the growing incidence of neurological disorders in the region. Further, the popularity of minimally invasive treatment and the increasing research & development activities in the development of innovative neurostimulation devices have been instrumental in driving the regional market forward. The neurostimulation device market is expected to register a 12.9% CAGR during 2016–2022.

Chronic pains more commonly affect nerves, bones, and the back. These pains can be debilitating, and to treat them, neurostimulation devices are used. These devices work by generating mild electric signals that reach the brain faster than pain signals, and trick the patient into feeling the tingling sensation instead of pain, they block pain signals before they reach the brain, thereby providing relief to patients. Some common pain management devices available in the neurostimulation device market are peripheral nerve stimulation device and SCS device.

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Historical and Current Trends of Human Insulin Market Size in Terms of Volume and Value

On account of the growing number of diabetic patients, increasing geriatric population, technological advancements in insulin delivery devices, and rising population exposed to risk factors are leading to the growth of the human insulin market. The global market generated a revenue of $42.9 billion in 2017, and it is expected to witness a CAGR of 8.8% during the forecast period (2018–2023). Human insulin (HI) is synthetic insulin, which mimics the effects and functionality of natural insulin in humans. It is generally created by growing the insulin protein in the E. coli bacteria.

In a recent P&S Intelligence research, the human insulin market is segmented by type, application, and region. Under the product segment, the market is further divided into HI drugs and delivery devices. Due to increase in research and development  activities for drugs discovery and manufacture, and high prevalence of diabetes, HI drugs held the larger share (79.5%) in the market in 2017 in terms of value. Furthermore, the rise in geriatric population and growth in demand for HI analogs is also pushing the market progress; analogs and biologics are two categories of the HI drugs division.

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Globally, North America dominated the human insulin market in 2017 with 39.2% revenue share. An increase in the number of diabetes patients contributed in the growth of the domain. The number of diabetic patients had grown from 108 million to 422 million between 1980 and 2014, and this number is anticipated to reach 592 million by 2035. As per the International Diabetes Federation, in 2017, 425 million people aged 20–79 across the globe had diabetes, and this number is projected to reach 629 million by 2045.

Therefore, it is apparent that the steady growth of the market will give players lucrative opportunities to invest in the research and development of improved insulin drugs and delivery systems.

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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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