How Will Hospitality Sector Strengthen Kuwait Facility Management Market?

The Kuwaiti facility management market is expected to grow at a CAGR of 8.5% between 2021 and 2030, owing to the booming hospitality sector and upcoming infrastructure projects in the country. According to P&S Intelligence, the industry was valued at $954.4 million in 2021, and it will generate $1,995.5 million revenue by 2030. In recent years, economic diversification has become a major trend in the market. To decrease its reliance on the energy sector, the government is focusing on increasing investments in the tourism, construction, and hospitality sectors to reduce its dependence on oil revenue.

One of the major growth drivers of the Kuwaiti facility management market is the flourishing hospitality sector, owing to the increasing footfall of tourists in the country. According to the WorldData, a total of 2 million tourists visited Kuwait in 2020. The government is encouraging private investments, constructing new attractions, increasing international promotion campaigns, and expanding airport capacity to boost the hospitality sector in the nation. The surging tourist footfall and soaring government support for the hospitality sector will result in the construction of hospitality units, which require facility management services to offer more comfort to customers.

The property category, within the service segment, accounted for the largest share in the Kuwaiti facility management industry in 2021. Whereas, the cleaning category is expected to register the fastest growth in the market throughout this decade. This will be due to the rising expectation for cleaning, germfree, and hygienic public spaces and workspaces, on account of the ongoing COVID-19 pandemic. To deal with the safety quotient of sanitation, enterprises and government organizations are using innovative scanners and sensors in facility management equipment.

With the presence of numerous players, the Kuwaiti facility management market is fragmented in nature, owing to which the competition has increased considerably. Nowadays, the market players are focusing on different strategic measures, such as contract wins and product launches, to gain a competitive edge. Some of the leading players in the market include Kharafi National for Infrastructure Projects Developments Construction and Services S.A.E., R&E Petroleum Co., and Fawaz Trading & Engineering Services Co. W.L.L.

Thus, the expanding hospitalization sector will steer the demand for facility management services in Kuwait.

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Rising Incidence of Healthcare Associated Infections Fueling Expansion of Sterilization Technology Market

The healthcare industry deals with sensitive issues, which is why it is of utmost importance that the devices in hospital settings are cleaned after every single use and are maintained properly for providing the patients with quality care. If the medical devices are not cleaned on a regular basis, patients and healthcare professionals both can get infected. One of the major reasons for the rising prevalence of hospital-acquired diseases is the poor level of cleanliness in different medical settings. However, the regulations regarding the proper maintenance of all medical devices are becoming more stringent, which is resulting in the growing adoption of the sterilization technology.

Attributed to these reasons, the sterilization technology market is predicted to register significant growth in the coming years. Devices and consumables both make use of the sterilization technology, among which medical devices made the most use of this technology in the past. Different types of sterilizers which are used for sterilizing medical devices are ultrasonic sterilizers, steam sterilizers, liquid sterilizers, low temperature sterilizers, filtration sterilizers, heat sterilizers, and radiation sterilizers. Out of these, the demand for heat sterilizers is expected to increase significantly in the coming years for sterilizing products that are moisture sensitive. The vendors in the domain offer two types of sterilization services, namely sterilization validation and contract sterilization.

In the past, North America emerged as the largest sterilization technology market, owing to the presence of large number of hospitals, rising prevalence of hospital-acquired diseases, and expansion of medical devices and pharmaceutical industries in the region. Furthermore, the increasing number of surgeries and growing healthcare expenditure in the region are also resulting in the rising adoption of sterilization. Other than this, the demand for this technology is also predicted to grow substantially in the Asia-Pacific region in the coming years, on account of growing medical tourism and increasing healthcare expenditure. 

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Increasing Prevalence of Skin Diseases Powering Muscle Relaxant Drug Sales

With the rising incidence of skin diseases, the demand for muscle relaxant drugs is surging sharply across the world. Some of the major factors fueling the incidence of these diseases are the increasing pollution levels, the excessive exposure to ultraviolet (UV) radiation, and increasing tobacco and alcohol consumption. Moreover, exposure to UV rays causes reduction in skin elasticity and also makes the skin highly vulnerable to sunburns, thereby pushing up the requirement for muscle relaxant drugs.

Apart from the aforementioned factor, the rising prevalence of acne is also powering the sales of muscle relaxant drugs around the world. This is because botulinum toxin-based muscle relaxant procedures are required for treating this disease. The surging spending on various facial aesthetic treatment procedures, on account of the growing disposable income of people, and the soaring usage of neuromuscular blocking agents in surgeries are also powering the sales of these drugs.

Geographically, the demand for muscle relaxant drugs was observed to be the highest in North America in the years gone by. This was because of the large-scale usage of facial muscle relaxants and the existence of a large geriatric population in the region. On the other hand, in the forthcoming years, the sales of these drugs will shoot up in Asia, primarily due to the rapidly improving healthcare infrastructure and the increasing volume of surgeries being performed in the region.

Hence, it can be said without any hesitation that the demand for muscle relaxant drugs will rise enormously in the years to come, primarily because of the growing incidence of skin diseases and the ballooning population of ageing people all over the world.

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Sleeping Aids Providing Comfort to Sleep Apnea Patients

 The American Sleep Apnea Association says that at present, around 22 million people in the U.S. suffer from sleep apnea. Among these, around 80% of cases of severe and moderate obstructive sleep apnea (OSA) remain undiagnosed. OSA can affect infants as well as adults; however, it is most frequent among men over 40 years. This disorder is highly prevalent among overweight or obese men. Thus, the surging cases of sleep disorders, such as OSA and insomnia, will create a huge requirement for sleeping aids in the coming years.

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In recent years, BRAEBON Medical Corporation, Takeda Pharmaceutical Company Limited, Löwenstein Medical GmbH & Co. KG, Natus Medical Incorporated, GlaxoSmithKline plc, Merck & Co. Inc., ResMed Inc., and Koninklijke Philips N.V. have been focusing on the production of sleep apnea devices, mattress and pillows, and medication and offering sleep laboratory services. In contemporary times, mattresses and pillows are being preferred over other sleeping aids due to their cost-effectiveness and availability in wide varieties. These products are used to comfort and treat patients suffering from insomnia, sleep apnea, narcolepsy, restless leg syndrome (RLS), and sleepwalking.

Currently, sleeping aids manufacturers are engaging in product launches and partnerships and collaborations to reach out to a greater number of customers. For instance, in September 2019, Koninklijke Philips N.V. introduced its expanded SmartSleep suite of solutions in the U.S. These solutions assist users in addressing an array of sleep issues, ranging from difficulty in falling asleep to snoring. Furthermore, in January 2020, SleepScore Labs partnered with Serta Simmons Bedding LLC (SSB) to explore the effects of sleeping on the iComfort by Serta CF4000 mattress and its ability to offer restful and comfortable sleep.

Whereas, the Asia-Pacific (APAC) sleeping aids market is expected to progress at the highest rate in the foreseeable future. This will be due to the increasing consumption of sleeping pills, booming geriatric population, and rising burden of sleeping disorders. According to the United Nations Population Fund (UNFPA), the population of people aged 60 years or above in the region will reach around 1.3 billion by 2050. Moreover, the low manufacturing cost of the products, owing to the easy availability of raw materials and labor, will support the market growth in the region.

Thus, the mounting cases of sleeping disorders and escalating demand for sleeping pills will fuel the adoption of sleeping aids.

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Increasing Research Activities Drive Development of Catalog Peptides

Every year, over 9.5 million people die of cancer each year, according to the World Health Organization (WHO). This is because either patients are diagnosed in later stages, or the drugs aren’t able to target tumors that well. A lot of cancers are formed due to the disruption in the pathways activated by peptides, which are essentially short chains of amino acids; a peptide of more than 50 amino acids is known as a protein. Since the establishment of the fact that protein pathway disruption is a potential cause of cancer, extensive research and development (R&D) has been put in to remedy this.

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Thus, with the rising prevalence of cancer and fruitful R&D, the catalog peptides market is predicted to grow from $238.4 million in 2018 to $332.1 million by 2024, at a 5.8% CAGR during 2019–2024 (forecast period). The term catalog peptide refers to the artificially synthesized peptide drugs which are readily available with biotechnology and pharmaceutical companies, as opposed to those that are customized as per user preference and the specific application.

Presently, North America makes the largest contribution to the catalog peptides market, owing to the presence of a number of biopharmaceutical companies, increasing R&D investments for widening the application area of such products, and adoption of improved technologies for manufacturing. Within the region, the U.S. consumes such drugs in higher amounts, owing to its increasing incidence of chronic diseases, especially cancer. Moreover, numerous drugs are receiving approvals from the Food and Drug Administration, which is leading to their rising availability for the treatment of various diseases.

Hence, with the rising R&D activities and prevalence of cancer, the demand for catalog peptides will also grow.

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Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market Set to Prosper in Future

The global anti-aging and skin rejuvenation energy-based aesthetic devices market is expected to exhibit rapid advancement in the future years, as per the forecast of P&S Intelligence, a market research firm based in India. The market is being driven by the rising geriatric population in several countries, thriving medical tourism industry, soaring public awareness of anti-aging and skin rejuvenation energy-based aesthetic devices, rapid technological advancements and innovations in these devices, and the surging popularity of minimally invasive aesthetic treatment procedures across the world.

The growing geriatric population is one of the key factors fueling the progress of the market. This is because of the fact that increasing age leads to the loss of fibrous tissue and decreased glandular and vascular network in the skin layers, which in turn, results in the formation of wrinkles and causes skin sagging, dryness, and pigmentary alteration. The usage of anti-aging products significantly reduces the occurrence of these skin problems as these products revitalize and tighten the skin and give it a younger look. 

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As per a report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of the people in the age bracket 60 years or above would rise to 437 million in China, 58 million in Brazil, 107 million in the U.S., and 324 million in India by 2050. The increasing population of geriatric people in these countries will massively push up the sales of these anti-aging devices in the future years. 

Geographically, the anti-aging and skin rejuvenation energy-based aesthetic devices market is predicted to register rapid progress in North America during the coming years. In addition to this region, the market is also predicted to record significant growth in Europe in the upcoming years. The main factors responsible for the expansion of the market in these regions are the existence of numerous prominent players, growing geriatric population, and the increasing consciousness amongst the people about looks and appearance.

Thus, it can be said without any doubt that the market will demonstrate huge growth in the forthcoming years, primarily due to the rising geriatric population and the increasing popularity of anti-aging devices and treatment procedures across the world. 

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Sales of Home-Use Insulin Delivery Devices Soaring in an Ageing World

The growing incidence of diabetes is driving the demand for home-use insulin delivery devices. According to the World Health Organization (WHO), 422 million people all over the world are currently suffering from diabetes. Furthermore, the organization reported that diabetes claims the lives of 1.6 million people every year. Besides the rising prevalence of diabetes, the mushrooming population of geriatric people is also fueling the demand for home-use insulin delivery devices across the world. 

Access Report Summary - Home-Use Insulin Delivery Devices Market Growth and Demand Forecast

Apart from the aforementioned factors, the rapid technological advancements being made in insulin delivery devices are also propelling their popularity globally. Insulin inhalers, insulin pumps, and insulin pens have several advantages such as the ability to administer the required dosage of insulin accurately, thereby assisting in maintaining the normal level of insulin in the body. Moreover, it is less time consuming to administer insulin via insulin pens in comparison to insulin administration via syringes. The other advantages of these pens are the ability to minimize the risk of inaccurate dose administration and greater patient acceptability.

This was because of the ease of administering insulin, rapid advancements made in the insulin pen technology, and the integration of the internet of things and smartphones in them. When distribution channel is taken into consideration, the home-use insulin delivery devices market is classified into e-commerce, diabetes clinics/centers, and pharmacies. Amongst these, the e-commerce category is predicted to register the fastest growth in the market in the coming years. This is ascribed to the various offers and discounts that are being provided by the e-commerce platforms. Additionally, these platforms provide the details of the products of various brands, which allows customers to make price and feature comparisons. 

Geographically, the home-use insulin delivery devices market was dominated by North America in 2020, as per the observations of the market research firm, P&S Intelligence. This was because of the high incidence of lifestyle diseases such as obesity and diabetes, growing public awareness about the importance of proper diabetes management, and surging healthcare expenditure in the regional countries. Additionally, the presence of a large obese population also contributed massively toward the high sales of home-use insulin delivery devices in the region, as obesity is a major risk factor for diabetes. 

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