Improving Quality of Life: The Rising Demand for Pressure Relief Devices in the Global Market

Pressure ulcers are defined as localized injuries to the skin underneath the tissue induced by the bony portion as a result of continuous pressure or pressure combined with sheer friction.

Devices that relieve pressure include those that spread out the weight of the body across a wide area and offer a conforming support surface. Patients of all age groups who have pressure ulcers should use these devices. Patients with numerous lifestyle-related disorders, including cardiovascular disease, diabetes, and obesity, benefit from the usage of such devices.

Geriatric Population Growth and Obesity

Obesity-related disorders and the rise in the senior population are driving the need for pressure ulcer devices. For example, research carried out in North America shows that the number of Americans 65 and older is expected to double from 45 million to 95 million in 2060.

Between 2009 and 2012, the "Population Reference Bureau" reported a sharp rise in obesity among older individuals in the United States, which now affects almost 40% of those between the ages of 65 and 75.

Numerous Low-Tech Devices Are in Use

Due to their simple operation, low cost, and outstanding performance in ulcer prevention, low-tech devices had the most share in the past and are anticipated to continue doing so in the coming years. Foam-based mattresses are the most prominent investors among low-tech gadgets because they absorb movement pressure, allowing for pain relief and uninterrupted sleep.

Need for Healthcare Infrastructure Is Growing

The worldwide healthcare system has been advancing and changing throughout time. The need for cutting-edge medical equipment, including pressure relief devices, has been rising in tandem with the fast growth of the healthcare infrastructure to meet the needs of pressure ulcer patients.

Growing public-private partnerships (PPP) and investments from third parties in medical facilities are also fostering the expansion of the medical sector, which in turn is fueling the demand for pressure relief devices.

Why Does North America Control the Most of the Market?

Due to the high frequency of pressure ulcers there, the North American market now owns a 37% share, and it is anticipated that the area will continue to dominate the industry. In addition, the development is being fueled by government support as well as the presence of an established reimbursement network.

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North America Is Driving Animal Healthcare Market

The global animal healthcare market was valued at USD 40.2 billion in 2022, and this number is projected to reach USD 84.9 billion by 2030, progressing at a CAGR of 9.8% during 2022–2030, as per a report by a market research firm, P&S Intelligence.

The growth of the industry can be credited to the snowballing consumption of milk and meat, increasing acceptance of pet animals, and rising frequency of food-borne zoonotic diseases.

Moreover, pet adoption in Germany is climbing sharply can be credited to the pandemic, with people looking for approaches to fight boredom and loneliness, hence boosting the need for dogs, cats, and other animals.

In the coming years, the companion animals’ category is predicted to advance at a higher CAGR, above 7%. This is mainly because of the snowballing number of companions and growing investment in their well-being. Globally, cat and dog ownership has been increasing progressively.

In 2022, North America had the largest revenue share, of approximately 35%. The need for feed additives is growing because of the heavy consumption of animal products. The U.S. is the world's major beef producer and prominent exporter as well. To supply nutritive animal-derived food, the need for feed additives is growing in the continent.

Hence, the snowballing consumption of milk and meat, increasing acceptance of pet animals, and rising frequency of food-borne zoonotic diseases, are some major factors that will drive the animal healthcare industry in the future. 

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Home-Use Beauty Devices Market Will Reach a Value of USD 89,535.1 Million By 2030

The Home-Use Beauty Devices Market is experiencing growth and is projected to hit USD 89,535.1 million by 2030, according to a research report by a market research company P&S Intelligence.

The market is boosted by the increasing awareness regarding appearance, rising frequency of skin diseases, growing elderly populace, and snowballing awareness of beauty devices.

Based on technology, the laser/light category had the largest market share in the past. The high acceptance of laser technology is mainly because of its capability to reduce the redness and irritation related to skin conditions, including rosacea and acne by aiming specific parts of the skin, while not impacting other areas.

The introduction of new and advanced beauty items in the past few years has altered the scenario of the home-use beauty devices industry by enabling the public to cure skin illnesses, advance skin texture, and reduces the signs of aging. Beauty product businesses are constantly emerging with better and more innovative products in response to the customer demand for cutting-edge skincare and haircare solutions.

The rising elderly populace plays a vital role in the development of the home-use beauty devices market. In the skin layers, aging causes the damage of fibrous tissues and a decreased glandular and vascular network, which causes dryness, wrinkles, pigmentary changes, and skin sagging. Anti-aging products, which support rejuvenating and tightening the skin, are being utilized in a large number to cure such skin difficulties in the aging population.

Moreover, countries such as Vietnam, India, China, Indonesia, and Thailand are providing abundant growth opportunities to the key players, basically due to their growing millennial populace. Also, the need for multifunctional items is increasing as cost-conscious customers are selecting products that provide multiple features.

Hence, the increasing appearance awareness and rising frequency of skin diseases, are the major factors that will drive the home-use beauty devices industry all over the world in the future as well.  

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Autonomous Mobile Robots Market To Reach USD 10,979 Million by 2030

The total size of the autonomous mobile robots market was USD 3,148 million in 2022, and it will reach a value of USD 10,979 million by 2030, advancing at rate 16.90% in the years to come, as per a report by a market research company, P&S Intelligence.

The logistics category had the largest share of revenue, of about 29% in the past. These robots are chiefly installed for transportation of goods within a warehouse or storage capacity, therefore allowing actual inventory management. This results in a decrease in the complete logistics cost and streamlining supply chain. 

Autonomous Mobile Robots Market Size and Share Analysis Report

Hence, as per the IFR, above 5 million AMRs will be functioning in about 60,000 warehouses worldwide by 2025.

Furthermore, a new breed of  AMRs is assisting logistics firms with various warehouse duties. AMRs can release the humans from routine duties, letting them to lay emphasis on more-rewarding and value-adding activities. 

In the years to come, a more-widespread acceptance of AMRs across a broader various use cases will be done, accompanied by progressions in their technical reliability and maturity.

The increasing requirement for factory automation solutions is a major factor driving the industry. Because of the increasing intricacies in manufacturing procedures, higher labor costs, lack of laborers, and growing emphasis on increased productivity, the requirement for factory automation solutions is increasing worldwide.

Likewise, logistical hubs and warehouses need AMRs for transportation and loading work. Additionally, in China and India, companies are more and more concentrating on automated solutions for compensating for labor shortages and advance the product quality, for competing in global markets.

APAC autonomous mobile robots market will have a significant growth rate of about 18.2% in the years to come. This will continue its dominance in the years to come. Peoples Republic, Japan, and South Korea are the key buyers of these robots, which, in line, is powering the global demand.

Moreover, because of the numerous government initiatives, for example Made in China 2025 and Make in India, which aim at accelerating automation in the manufacturing industry, the requirement for AMRs is increasing across the region, chiefly in India, Thailand, China, and Indonesia. 

For example, in the Made in China 2025 plan, the government of China is applying automation and robotics technologies in the manufacturing sector.

Correspondingly, the Indian government is concentrating on formulating an ecosystem for the propagation of Industry 4.0 in each manufacturing-related sector of the nation by the 2025.

It is because of the increasing requirement for the automation of factory operations and growing e-commerce sector, the demand for autonomous mobile robots will increase significantly in the years to come.

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Business Continuity Management Market Will Touch $1,673 Million by 2030

The global business continuity management the market was valued at $536 million in 2022, and this number is expected to reach $1,673 million by 2030, advancing at a CAGR of 15.30% during 2022–2030, as per P&S Intelligence.

This growth is mainly credited to the increasing dependency on digitization, snowballing IT expenditure, integration of cutting-edge technology, increasing operational hazards in administrations, and mounting acceptance of business continuity solutions in SMEs.

Business Continuity Management Industry Revenue Estimation and Demand Forecast to 2030

Business continuity management comprises an organization's policy and preparation to keep optimum operations or speedily recover after a disaster. It also involves the detection of threats. The benefits of a robust BCM strategy, include the ability to endure cyberattacks and natural disasters. Additionally, sustaining a strong financial status and offering a brilliant customer experience during mishappenings can be difficult. Here, continuity preparation guarantees that the service and product quality is upheld. This becomes exclusively important for businesses’ food items or healthcare-associated goods.

The solutions category held the larger revenue share in 2022 and it is expected to maintain its dominance during the projection period. The growth is mainly attributed to the increasing deployment of BCM solutions for risk management, crisis management, and audit management. Additionally, the promptly changing corporate environments and the development of data recovery or risk management solutions will drive the business continuity management market.

In 2022, the large enterprise category held the larger market share of 75% and is projected to remain in the leading spot in the future as well. This can be credited to the capability of large enterprises to do significant IT expenditures, to deploy and improve their business continuity strategies. Furthermore, large organizations have discrete operations and enormous amounts of Important enterprise data. Thus, they are bound to incorporate effective business continuity strategies to manage operations.    

The APAC market is projected to grow at a CAGR of 16.1% in the future. This is can be ascribed to the fast economic growth in the key countries, the snowballing occurrence of large enterprises, increasing IT services, lifting IT expenditure in emerging countries, including India and China, and the development of cloud technology in the region.

The region is witnessing rampant industrialization and corporatization, which are leading to a proliferation in the number of business enterprises operating here. Moreover, countries are upping their spending on digitization initiatives, which is a key reason behind the rising demand for BCM solutions.

Hence, increasing dependence on digitization, snowballing IT expenditure, integration of cutting-edge technology, increasing operational hazards in administrations and mounting acceptance of business continuity solutions in SMEs are major are major factors driving the business continuity management industry growth. 

 

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Digital Twin Market Will Touch $195,347.6 Million by 2030

The digital twin market has garnered $7,683.4 million in revenue in 2022, and it is projected to rise at a rate of 49.9% from 2022 to 2030, to capture $195,347.6 million by 2030, according to the research company P&S Intelligence.

This growth can be credited to the snowballing adoption of artificial intelligence, the internet of things, machine learning technologies, and 5G, Industry 4.0, increasing emphasis on the manufacturing sector on digital twins to lesser cost and improved supply chain operations, rising solution demand in the healthcare industry, and growing shift toward cloud services.

 

In 2022, the small & medium enterprises category had a considerable market share, and their usage of these solutions is projected to grow at a CAGR of 52.2% in the years to come, owing to the fast digital transformation. Furthermore, the need for virtual modeling solutions is rising between these enterprises to improve products, estimate faults in early stages, and schedule timely maintenance. This further supports significantly lowering downtime and advanced product performance.

 

In 2022, North America had the largest revenue share, of 36%. This growth is mainly credited to the early acceptance of enhanced technologies, including ML, IoT, and AI, robust IT infrastructure, and a mounting concentration on Industry 4.0 standards, mainly in the automotive and manufacturing sectors. According to GSMA Intelligence, internet of things revenue in the continent is projected to be $337 billion by 2025, which will be around three times the revenue recorded in 2018.

 

In 2022, the product category was the largest revenue generator, and it is expected to continue its dominance in the future as well. This technology aids businesses to gather data on every possible prospect of a product, for greater visibility and to decline the mean time between failure and mean time to repair. This, indeed, enables advanced system and price effectiveness and enterprise productivity.

 

Additionally, virtual modeling is the most popular technology in product design. The expenditure for aerospace businesses in part design and growth is very high, which is why they are utilizing this technology to lower prices while making new designs. Aerospace companies use such solutions to make several critical systems, including thermal protection systems, airframes, and avionics.

 

The inclination toward interconnected environments throughout industries is growing the demand for digital twin solutions throughout the globe. Enormous acceptance of IoT is being experienced, with above 41 billion connected IoT devices projected to be in use by 2025. For the effective functioning and implementation of IoT, snowballing the quantity for every part, or “thing”, is essential, which is made possible by the support of this technology. 

 

Hence, the snowballing adoption of artificial intelligence, the internet of things, machine learning technologies and 5G, Industry 4.0, increasing emphasis on the manufacturing sector on digital twins to lesser cost and improved supply chain operations, rising solution demand in the healthcare industry, such factors will drive the digital twin market in the future.

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Battery Management System Market Is Set To Hit USD 26,797 Million by 2030

For overcharge discharge, under/over current, under/over voltage, under/ over temperature, and short circuit protection, battery management systems are utilized. They come in master-slave and single-board configurations.

Specific algorithms, such as cell/module balance, SOC, SOH, and real-time charge/discharge current management, are used in these systems. These systems are used in commercial and industrial buildings, utility grid support systems, specialized vehicles, and residential energy storage.

By 2030, it is predicted that the market for battery management systems will surpass a value of USD 26,797 million, as per P&S Intelligence. This is mostly related to the expanding popularity of rechargeable batteries in consumer gadgets and the growing demand for EVs.

The government constantly places a focus on hybrid and electric vehicles in order to reduce carbon dioxide emissions, both in industrialized nations like North America and in developing ones, such as the Asia Pacific market.

Public transportation has undergone a technological change as a result of the increase in air pollution. All the industrial players are converting to renewable energy sources in order to comply with government regulations. Batteries are widely used in the consumer electronics, communications, and automobile industries.

One of the best options for a sustainable environment is EVs. The use of EVs is increasing as environmental preservation is given more attention. R&D efforts are being prioritized by automakers to enhance the performance of EVs.

Wireless EV battery management solutions are increasingly preferred over traditional battery management systems because of their greater flexibility, cheaper price, and reduced complexity.

An electronic circuit known as the battery management system is specifically created for EVs to guarantee the stability and safety of their battery packs. Several elements, including battery life and health, safety, cell voltage, and charging-discharging rates, have an impact on how well EVs operate.

Lithium-Ion Battery Management Systems Are Popular in Consumer Electronics and EVs

Because lithium-ion (Li-ion) batteries have various advantages over other battery types, including a longer life cycle, higher energy density, lower maintenance required, and superior resilience, Li-ion batteries retained the greatest share of the market.

In addition, such batteries are environmentally beneficial because they have comparatively lower quantities of hazardous heavy metals than other battery types like lead-acid and nickel-cadmium batteries.

Additionally, the rapid growth of the automotive and consumer electronics industries in China and other European countries is promoting the usage of BMS. Li-ion batteries have drawbacks despite having a higher energy density, notably in terms of safety.

In 2022, Asia-Pacific accounted for the largest share in the market. The increase in need for battery management from automobile applications like electric cars, e-bikes, and automated guided vehicles is to blame for this. Hundreds of cells stacked in parallel high-energy-density lithium-ion batteries are used in such applications.

These cells need to be maintained and managed to prevent vehicle failure, making the system a crucial element in the design of EVs. The battery's performance, safety, and utilization are determined by the system.

China also dominates the APAC market because it is a significant center for the production of automobiles. A surge in the production of cars and the batteries used in them is boosting the nation's market.

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