InnovAtive Insights: Gas Detection Equipment Market EstimAted to Exceed $10 Billion By 2030 - Researcher's Paradise!

 

Gas Detection Equipment Market Growth & Trends

The global gas detection equipment market size is expected to reach USD 10.66 billion by 2030, registering a CAGR of 11.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rapidly expanding necessity for facility safety along with worker safety throughout the world is driving the market expansion of gas detection equipment. At the same time, the rise in need to comply with the stringent safety and environmental rules is a significant factor driving the growth of the gas detection equipment market. According to the industry guidelines, it is critical to restrict workers occupational exposure to hazardous gases. As a result, gas detectors can be deployed in the hazardous workplaces.

Several companies across the globe are focusing on introducing Bluetooth-based gas detection equipment, which is expected to create new opportunities for market growth in the coming years. For instance, in October 2021, Honeywell International Inc. launched two new Bluetooth connected gas detectors that can deliver continuous monitoring for dangerous gases in fog, rain, snow, and other harsh conditions. The launch was expected to help facilities keep their oil & gas, petrochemical, chemical and other workers and industrial sites safe.

Rising workplace accidents have raised worker awareness of workplace safety and health. For instance, in June 2022, thirteen people were killed and approximately 265 were wounded at Jordan’s Aqaba port, due to a toxic gas leakage.As a result, firms are investing in the adoption of comprehensive safety measures in order to provide a safe working environment. This has resulted in employee retention while conforming to tight requirements. Furthermore, it has aided brand image among customers, thereby supplementing good will. This has increased the demand for improved gas detection technology in factories, plants, and other industries.

The COVID-19 pandemic is anticipated to favorably impact the market growth in the near future. Post the COVID-19 pandemic, the use of Vaporized Hydrogen Peroxide (VPH) to disinfect workplaces, particularly those built for continuous human occupation, is projected to expand. If VPH is not completely eliminated from the region, it might be harmful to human health. Workers exposed to VPH may experience sore throats, respiratory irritation, skin irritation, watery eyes, and internal organ damage according to the Centers for Disease Control and Prevention. Consequently, following the pandemic, the need for installing Hydrogen Peroxide (H2O2) gas monitors within offices and work places to avoid hydrogen peroxide exposure is projected a high growth.

Request a free sample copy or view report summary: 
Gas Detection Equipment Market Report

Gas Detection Equipment Market Report Highlights

• In terms of product, the fixed gas detector segment is expected to retain its dominance over the forecast period. As companies become more aware of the hazards connected with hazardous gases in the workplace, the requirement for safe and healthy working conditions is a primary driving force behind the rising usage of fixed gas detectors.
• In terms of technology, the infrared gas detection technology segment dominated the market in 2022 and is expected to witness growth over the forecast period. Primary driving factor propelling the segment growth is the maintenance-free nature of infrared gas detectors.
• In terms of end-use, the industrial segment dominated the market in 2022. The rising number of mine deaths caused by a shortage of oxygen is expected to drive up demand for gas detectors in the industrial end-use industry.
• Increasing usage of gas detection equipment in emerging economies such as India and China is likely to generate development possibilities for gas detection equipment market participants in the Asia Pacific

Nutritional Supplements Industry Forecasted to Surge to $621.86 Billion By 2030 - Business Goldmine Ahead!

 

Nutritional Supplements Market Growth & Trends

The global nutritional supplements market size is projected to reach USD 621.86 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 6.3% from 2023 to 2030. The global market for nutritional supplements has been experiencing a substantial surge in demand in recent years, driven by a convergence of factors such as evolving consumer preferences, health consciousness, and advancements in scientific research.

Another significant factor contributing to market growth is the changing lifestyles and demographic trends. Rapid urbanization, sedentary work environments, and busy schedules have resulted in decreased physical activity levels and a rise in stress-related issues. As a result, individuals are actively seeking solutions to overcome these challenges and are willing to invest in health and wellness products to improve their quality of life. In addition, the aging population and the desire for healthy aging have fueled the demand for products supporting longevity & vitality.

One of the primary drivers behind the increased demand for nutritional supplements is the rising awareness of the importance of a balanced and nutrient-rich diet. As more people acknowledge the challenges of obtaining all necessary nutrients solely through their daily meals, they are turning to supplements as a convenient and effective way to bridge nutritional gaps. The modern lifestyle, characterized by fast-paced routines and often poor dietary choices, has resulted in the need for alternative sources of essential vitamins, minerals, and other nutrients that support overall well-being.

Aging populations across the world have also contributed significantly to the surge in demand for nutritional supplements. As individuals age, their nutritional requirements often change, and they may require additional support to maintain their health and vitality. Nutritional supplements designed to address age-related concerns, such as bone health, cognitive function, and immune support, have gained popularity among elderly demographics seeking to enhance their quality of life and maintain their independence.

Request a free sample copy or view the report summary: 
Nutritional Supplements Market Report

Nutritional Supplements Market Report Highlights

• In terms of product, the functional foods and beverages segment dominated the market in 2022 with a revenue share of 55.9%, which can be attributed to the increased demand for probiotics
• Based on consumer group, the adult segment dominated the global market in 2022 with a revenue share of 51.0%. The segment is also anticipated to showcase the fastest CAGR of 7.0% over the forecast period. This growth is attributed to the large consumption of supplements by this age group
• In terms of formulation, the powder segment dominated the market in 2022 with a revenue share of 38.4%. The higher revenue growth is attributed to the large number of products available in powdered form
• In terms of sales channel, the brick & mortar distribution channel segment dominated the global industry in 2022 with a share of 67.3%. In contrast, the E-commerce segment is projected to register the highest growth rate during the projected period.
• In terms of region, Asia Pacific dominated the global industry in 2022 with a revenue share of 39.39%, owing to the growing consumer base and increasing awareness regarding healthy living standards in the region

Furfural Market Worth $954.36 Million By 2030 | CAGR: 7.0%

 

Furfural Market Growth & Trends

The global furfural market size is expected to reach USD 954.36 million by 2030, registering a CAGR of 7.0% from 2023 to 2030, as per a new report by Grand View Research, Inc. Increased environmental concerns and the growing significance of bio-based solvents are expected to raise the demand for furfural throughout the forecast period.

Numerous end-use industries, such as foundry, agriculture, refineries, paints & coatings, automotive, construction, pharmaceuticals, and chemicals, use furfural widely as a solvent or intermediary. During the forecast period, it is anticipated that the expanding construction industry would help to offset the decline in demand for several refractory products, including, bricks and fiberglass composites. In addition, it is anticipated that the diminishing supply of fossil fuels would increase the need for sustainable products.

Chemical manufacturers are inclined toward the sustainable production of bio-based/green chemicals that focus on the 12 principles of green chemistry. A paradigm shift in terms of the production of green chemicals has led to the development of various biotechnological routes, such as fermentation, biocatalysts, and enzymatic processes, among others. The aforementioned factors have contributed in a significant way to the growth of the green chemicals market.

Green chemical producers are expanding their production capacities and infrastructure with the intention to cater to the rising product demand. They have integrated their production and distribution channels for improved market accessibility. Mergers & acquisitions and strategic alliances are an integral part of this market and allow companies to strengthen their market position. Business activities of the end-users significantly influence the financial conditions and businesses of raw material suppliers as well as manufacturers. Innovative bio-based value chains, business sustainability initiatives, and the growth of the green chemistry market are some of the drivers pushing market expansion.

COVID-19 had a negative impact on the furfural market because of the prices, which had fallen in 2020. China accounts for more than 80.0% of the global production of furfural and furfuryl alcohol, making it a noteworthy manufacturer. The coronavirus outbreak had a negative impact on the global market, with both manufacturers and end-users experiencing difficulties finding supplies until the situation returned to normal globally. However, the stability seen in these industries predicted that important end-use applications such as food & beverage and medicines will support the product demand in the near future.

Request a free sample copy or view report summary:
 Furfural Market Report

Furfural Market Report Highlights

• The Chinese batch process is the fastest-growing process segment with a CAGR of 7.1%. This is because the Chinese batch process is generally used in various small-scale manufacturing facilities, mainly in China, which accounts for a prominent share of the market
• The solvent source is the fastest-growing application segment with a CAGR of 7.2%. This is attributed to the increasing utilization of furfural as a selective solvent for refining rosin and lubricating oils
• The refineries segment is the fastest-growing end-use segment with a CAGR of 5.1%. In response to the growing demand for the product as a solvent in the refining of petroleum, specialty adhesives, and lubricants, refineries have become the leading end-use area
• The sugarcane bagasse raw material segment is expected to advance at the fastest CAGR of 7.2%. High quantities of sugarcane bagasse are easily available at low cost in numerous sugarcane-processing manufacturing facilities such as sugar mills and independent distilleries, boosting the demand for sugarcane bagasse raw material
• Asia Pacific is expected to emerge as the fastest-growing region with a CAGR of 7.3%. The growth is majorly driven by the rising demand for packaged baby nutrition formulas among consumers in the region

3D Display Market Worth $413.13 Billion By 2030 | CAGR: 19.0%

 

3D Display Market Growth & Trends

The global 3D display market size is expected to reach USD 413.13 billion by 2030, registering a CAGR of 19.0% from 2023 to 2030, according to a new study by Grand View Research, Inc. The gaming industry has enhanced the complete gaming experience using 3D technology, which drives market growth. Moreover, rising interest in LED and OLED technologies offering better picture quality and performance than traditional display technologies will also result in market development.

Additionally, surging demand for enhanced imaging and viewing experience is estimated to be one of the key trends augmenting the market. The rising use of 3D technologies across a variety of applications in several industries is further expected to boost market growth.

Asia-Pacific is estimated to witness significant growth and become the highest revenue-generating regional market by 2030. Robust growth of the gaming and entertainment industries, especially in China, India, and Japan is poised to play a vital role in accelerating the adoption rate during the forecast period. The presence of major OEMs is contributing significantly to regional growth.

Stereoscopic 3D products are useful in numerous applications including TVs, smartphones, tablets, and computers. Key players in the market have introduced compatibility in Head-Mounted Displays (HMD) with minimum hardware requirements. Multinational conglomerates such as Sony and Samsung prominently operate in the business of HMD.

Emerging display technologies such as OLED are expected to gain market penetration during the forecast period due to the increasing implementation in several devices, thereby offering improved picture quality and performance. Moreover, the lack of compatible content and the high cost of these products are expected to impede the overall market growth.

However, Emerging economies, such as India, are expected to experience high growth throughout the forecast period, attributed to the middle-class population’s increasing base and enhanced living standards. The major applications of 3D Displays, monitors, and projectors are expected to record a sharp rise in sales shortly, owing to varying consumer preferences and pouring demand for HD graphics.

Request a free sample copy or view the report summary: 
3D Display Market Report

3D Display Market Report Highlights

• The HMD product segment is anticipated to witness the highest growth at a CAGR of 23.0% from 2023 to 2030. The growth of the segment can be attributed to the advancements in technology and lower prices of these displays
• The stereoscopic segment represented more than 60.0% of the market revenue in 2022. Advancements in autostereoscopic technology are poised to trigger the growth of this segment
• The OLED segment is estimated to post a CAGR exceeding 25.0% during the forecast period, owing to the increasing adoption of OLED displays in numerous electronic devices such as TV, smartphones, tablets, and laptops
• TV was the most prominent application segment in 2022, accounting for more than 70.0% share of the overall market revenue. Consumer electronics manufacturers (CEMs) are trying to enhance the viewing experience of users by incorporating 3D display technologies
• Asia Pacific is likely to experience the highest growth during the forecast period. Changing consumer preferences in developing economies along with flourishing entertainment and gaming industries are escalating demand for the 3D displays
• The key players are adopting organic and inorganic growth strategies such as investments in R&D, product innovation, and M&A activities to acquire a larger industry share
• In September 2022, Visteon Corporation (a U.S.-based automotive electronics maker) announced its plan to start manufacturing automotive displays in India in early 2023. The company will expand its Chennai plant by investing USD 20.0 million to manufacture displays

Food Safety Testing Market To Reach $38.25 Billion By 2030

 

Food Safety Testing Market Growth & Trends

The global food safety testing market size is expected to reach USD 38.25 billion by 2030, registering a CAGR of 7.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rise in the outbreak of foodborne diseases and the enforcement of stringent regulatory norms regarding optimum quality of edible items are expected to drive the demand for product safety in the market over the projected period.

Governments and food producers have undertaken extensive efforts to improve the quality of edible products owing to health concerns and economic losses caused by contamination. In addition, the presence of authorities, such as the FDA and FSSAI, to ensure conformance to quality standards for the products, is expected to result in increased safety checks. The market for this type of safety checks is highly competitive in nature as key players compete not only with other companies that conduct tests but also with the internal analytics departments of end users and government agencies.

The food safety testing market is witnessing notable technological developments such as the usage of electrical biosensors in microbiological safety testing. This is expected to reduce the analysis time with increased accuracy in results. In addition, increasing expenditure by processing companies to ensure higher quality of edible items is expected to bode well for market growth.

The existence of inadequate regulatory infrastructure in underdeveloped countries due to limited resources and lack of restructuring of food regulatory agencies is expected to limit growth. However, the industry in Asia Pacific is expected to grow owing to notable growth of food processing sector in developing economies such as India and China and the enforcement of stringent regulations regarding product safety. Increasing awareness regarding quality checks and the examining of edible products are also expected to contribute to the market growth over the forecast period.

Request a free sample copy or view report summary: 
Food Safety Testing Market Report

Food Safety Testing Market Report Highlights

• Allergen segment accounted for 12.8% of the revenue share of the market in 2023 owing to its extensive usage in advanced production processes and minimize contamination risks
• Dairy & dairy products segment is expected to grow at a CAGR of 7.7% from 2024 to 2030 owing to increasing assessment of shelf-life for milk & dairy products to demonstrate compliance with statutory requirements
• The Asia Pacific food safety testing market is anticipated to grow at a CAGR of 9.0% over the forecast period. The market is growing owing to the implementation of stringent rules and regulation regarding the food.

Reach New Heights: $171.25 Billion Roofing Materials Market Size Forecasted for 2030

 

Roofing Materials Market Growth & Trends

The global roofing materials market is expected to reach USD 171.25 billion by 2030, registering a CAGR of 4.0% from 2022 to 2030, as per a new report by Grand View Research Inc. Increasing investments in the renovation and redevelopment of residential and non-residential buildings are expected to drive the market growth.

Renovating and remodeling are significant factors for the long-term maintenance of properties. Hence, the preference for roof replacements is expected to continue over the forecast period as homeowners are preferring renovating existing buildings instead of new homes.

The COVID-19 pandemic resulted in significant changes in the global construction industry. Delay in new construction activities and intensification of labor shortages, along with an inadequate supply of raw materials have been some effects of the pandemic which had created adverse impact on the market growth.

The initiatives undertaken by governments of various countries for the development of green buildings have also prompted consumers to carry out roof replacements. The demand for roof installations of solar panels surged in 2021 and is expected to continue increasing over the forecast period.

A number of substitutes such as living roofs, solar roofs, green roofs, restoration coatings, and SPF roofs are available in the market, which deliver better performance than common roofing materials. However, factors such as high maintenance and installation costs of substitutes have restricted their demand.

Request a free sample copy or view report summary: 
Roofing Materials Market Report

Roofing Materials Market Report Highlights

• Concrete & clay tiles product segment accounted for USD 35.11 billion in 2021 and is projected to grow at a CAGR of 3.9% from 2022 to 2030. The growth can be attributed to durability, superior aesthetics, and versatility, along with the ease of recycling properties of these products.
• Residential applications accounted for the revenue share of 55.8% in 2021 on account of growing increasing government support for the development of housing infrastructures in emerging economies.
• Asia Pacific is projected to witness substantial market growth of 4.6% from 2022 to 2030. The construction industry in the region is expected to witness significant growth in the coming years owing to the rising per capita income, ongoing urbanization, and growing population.

Seize the Future: $317.39 Billion Hydrogen Generation Market Projections for 2030!

 

Hydrogen Generation Market Growth & Trends

The global hydrogen generation market size is expected to reach USD 317.39 billion by 2030, registering a CAGR of 9.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global hydrogen generation market is likely to be driven by the growing demand for cleaner fuel, coupled with increasing governmental regulations for the desulphurization of petroleum products.

Hydrogen is an effective energy carrier, and this quality is expected to contribute, significantly, to its further penetration into newer markets. The global electricity demand is anticipated to witness an increase by nearly two-thirds of the current demand in the forecast period. Focus on the projects, related to distributed power & utility, expected to bolster the demand for hydrogen generation market growth during the forecast period.

The Methane Reforming segment led the market in 2021. This was the dominant segment in 2021 and is expected to keep its position during the forecast period. Steam Methane reforming is a method for producing hydrogen, along with other gases including carbon monoxide and carbon dioxide. The steam methane reforming process is a mature and advanced technology in hydrogen generation. The growing demand for hydrogen generation across the globe is a crucial driving factor for steam methane reformers technology, as steam methane reforming is the most economical method for hydrogen generation.

In Application, the ammonia production segment led the market in 2021. The ammonia segment will keep its lead during the forecast period. The future growth of the hydrogen generation market is expected to have steady growth in all the segments as application cases for hydrogen increase.

In source, the natural gas segment led the market in 2021. Hydrogen is created from natural gas reforming which produces hydrogen, carbon monoxide, and carbon dioxide. Hydrogen production from natural gas is the cheapest method of producing hydrogen. Hydrogen production from natural gas is expected to keep its lead during the forecast period.

Based on systems, the merchant generation segment led the market in 2021. Merchant generation of hydrogen means hydrogen is produced at a central production facility. It is transported and sold to the consumer by bulk tank, pipeline, or cylinder truck. In many countries such as the U.S., Canada, and Russia there is an extensive existing natural gas pipeline network that could be used to transport and distribute hydrogen. The merchant generation segment is expected to keep its lead during the forecast period.

Growing investments in smart “energy-saving” residential and commercial buildings are expected to provide an impetus toward the adoption of hydrogen for energy generation. Hydrogen is a financially viable option to investors as they also comply with federal and environmental regulations, catering to the ever-increasing demand for energy. Factors including shifting trend toward cleaner energy and favorable government regulations are contributing to the development of the hydrogen generation market.

Request a free sample copy or view report summary: 
Hydrogen Generation Market Report

Hydrogen Generation Market Report Highlights

• Coal gasification hold a revenue share of 34.0% in 2023. The use of coal to generate hydrogen for the transportation sector is expected to aid America in reducing its dependency on imported petroleum products.
• The ammonia production segment dominated the market and accounted for more than 21.0% of the revenue share in 2023
• As of 2023, Asia Pacific accounted for about 35.14% revenue share in the overall market. The presence of a high number of refineries within major Asian nations such as China and India has resulted in hydrogen generation within the region. Further, governments in some of the Asia Pacific countries such as Japan and Australia are evaluating greener and cleaner technologies for hydrogen generation.
• Various strategic initiatives were recorded during the past few years to boost the growth of the market. For instance, in 2019 Linde Plc announced that it has started a new gas production facility that supplies methane, carbon dioxide, and, hydrogen to Evonik Industries. The new plant is likely to incorporate advanced technologies that would enhance the plant’s efficiency and reliability.

Powering the Future: Hydrogen Generation Market Forecasted to Reach $317.39 Billion By 2030, Captivating Business and Research Sectors

 

Hydrogen Generation Market Growth & Trends

The global hydrogen generation market size is expected to reach USD 317.39 billion by 2030, registering a CAGR of 9.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global hydrogen generation market is likely to be driven by the growing demand for cleaner fuel, coupled with increasing governmental regulations for the desulphurization of petroleum products.

Hydrogen is an effective energy carrier, and this quality is expected to contribute, significantly, to its further penetration into newer markets. The global electricity demand is anticipated to witness an increase by nearly two-thirds of the current demand in the forecast period. Focus on the projects, related to distributed power & utility, expected to bolster the demand for hydrogen generation market growth during the forecast period.

The Methane Reforming segment led the market in 2021. This was the dominant segment in 2021 and is expected to keep its position during the forecast period. Steam Methane reforming is a method for producing hydrogen, along with other gases including carbon monoxide and carbon dioxide. The steam methane reforming process is a mature and advanced technology in hydrogen generation. The growing demand for hydrogen generation across the globe is a crucial driving factor for steam methane reformers technology, as steam methane reforming is the most economical method for hydrogen generation.

In Application, the ammonia production segment led the market in 2021. The ammonia segment will keep its lead during the forecast period. The future growth of the hydrogen generation market is expected to have steady growth in all the segments as application cases for hydrogen increase.

In source, the natural gas segment led the market in 2021. Hydrogen is created from natural gas reforming which produces hydrogen, carbon monoxide, and carbon dioxide. Hydrogen production from natural gas is the cheapest method of producing hydrogen. Hydrogen production from natural gas is expected to keep its lead during the forecast period.

Based on systems, the merchant generation segment led the market in 2021. Merchant generation of hydrogen means hydrogen is produced at a central production facility. It is transported and sold to the consumer by bulk tank, pipeline, or cylinder truck. In many countries such as the U.S., Canada, and Russia there is an extensive existing natural gas pipeline network that could be used to transport and distribute hydrogen. The merchant generation segment is expected to keep its lead during the forecast period.

Growing investments in smart “energy-saving” residential and commercial buildings are expected to provide an impetus toward the adoption of hydrogen for energy generation. Hydrogen is a financially viable option to investors as they also comply with federal and environmental regulations, catering to the ever-increasing demand for energy. Factors including shifting trend toward cleaner energy and favorable government regulations are contributing to the development of the hydrogen generation market.

Request a free sample copy or view report summary: 
Hydrogen Generation Market Report

Hydrogen Generation Market Report Highlights

• Coal gasification hold a revenue share of 34.0% in 2023. The use of coal to generate hydrogen for the transportation sector is expected to aid America in reducing its dependency on imported petroleum products.
• The ammonia production segment dominated the market and accounted for more than 21.0% of the revenue share in 2023
• As of 2023, Asia Pacific accounted for about 35.14% revenue share in the overall market. The presence of a high number of refineries within major Asian nations such as China and India has resulted in hydrogen generation within the region. Further, governments in some of the Asia Pacific countries such as Japan and Australia are evaluating greener and cleaner technologies for hydrogen generation.
• Various strategic initiatives were recorded during the past few years to boost the growth of the market. For instance, in 2019 Linde Plc announced that it has started a new gas production facility that supplies methane, carbon dioxide, and, hydrogen to Evonik Industries. The new plant is likely to incorporate advanced technologies that would enhance the plant’s efficiency and reliability.

Key Companies & Market Share Insights

Hydrogen generation industry is competitive with key participants involved in R&D and constant innovation done by vendors has become one of the most important factors for companies to perform in this industry. For instance, Matheson Tri-Gas, Inc. acquired Linde HyCO business that produces hydrogen, carbon monoxide, or syngas. This acquisition is expected to promote expansion of company’s capabilities and serve petrochemical and refining industries.

Air Liquide announced that it will manufacture and market renewable liquid hydrogen to the U.S. West Coast mobility market. This large-scale project is expected to produce 30 tons of liquid hydrogen per day using biogas technology.

Key Hydrogen Generation Companies:

• Air Liquide International S.A
• Air Products and Chemicals, Inc
• Hydrogenics Corporation
• INOX Air Products Ltd.
• Iwatani Corporation
• Linde Plc
• Matheson Tri-Gas, Inc.
• Messer
• SOL Group
• Tokyo Gas Chemicals Co., Ltd.

Explosive Growth: Ceramic Industries Eye Staggering $359.35 Billion Market Value By 2030

 

Ceramics Market Growth & Trends

The global ceramics market size is anticipated to reach USD 359.35 billion by 2030 registering a 5.2% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc., Rising penetration of ceramics in medical and construction industries is anticipated to propel market growth in the forecast period. Ceramic is any of the numerous brittle, hard, corrosion-resistant, and heat-resistant materials that are manufactured by giving shape, followed by firing a non-metallic, or an inorganic material, such as clay, at a very high temperature. Based on product, the market is segmented into traditional and advanced.

The combination of oxides or non-oxides or the combination of both results in the formation of advanced ceramics. Insulation, magnetism, conduction, and permeability are the characteristics, which allow it to be used in a variety of applications in numerous industries such as defense, aviation, electronics, and medicine.

Based on applications, tiles dominate the global market. Worldwide, the growth in construction activities is propelling the demand for tiles in interior décor due to their attractive appearance and affordability. Tiles are typically created from a combination of red or white clay and other materials and are then glazed. This glaze gives the tile more tensile strength, color, and pattern.

Based on region, Asia Pacific held the largest revenue share of the market in 2022 and this trend is expected to continue over the forecast period. The increased demand for roof tiles, artware, and tableware in the region is boosting the product demand in the region. Furthermore, Asia Pacific also accounts for the large-scale presence of pottery manufacturing. Pottery ceramics has cultural importance in Japan, China, etc. as they are used in religious and ceremonial activities such as on the altars in places of worship, as well as in tea ceremonies, in these countries.

The global ceramics market is characterized by the presence of multiple manufacturing companies coupled with the concentration of end-use companies in the global market. These prominent manufacturers compete with each other on the basis of product quality and prices. Countries like China, India, and other Asia countries are some of the leading exporters of ceramic and related products in the world.

Request a free sample copy or view report summary: 
Ceramics Market Report

Ceramics Market Report Highlights

• Based on product, traditional held a share of over 57.0% in 2022 and is anticipated to progress at a lucrative CAGR from 2023 to 2030. The growth is attributed to increasing demand for tiles, bricks, and tableware manufacturing.
• Based on application, tiles are anticipated to grow at a CAGR of 6.0% in terms of revenue during the forecast period. The progressive growth is on account of increasing demand from end-uses such as walkways, patios, flooring, and wall.
• Based on end-use, construction held the largest share of over 40.0% in 2022. Increasing spending in the development of luxury villas, hotels, and apartments worldwide has increased the consumption of ceramic products, which are used to enhance the aesthetic appeal of these properties.
• Based on region, North America is anticipated to attain a CAGR of 4.2% in terms of revenue during the forecast period. Rising investments in residential and commercial spaces are propelling the need for sanitary ware, which is propelling the market growth.

Key Companies & Market Share Insights

The market is competitive in nature. The players operating in this market continuously carry out product developments to stay ahead of their competitors. For instance, in May 2022, CeramTec GmbH launched a new product named AIN HP, which is a relatively new high-performance substrate. This ceramic substrate is ideal for use in power converters in rail vehicle production. Some of the prominent players in the global ceramics market include:

• 3M
• AGC Ceramics Co., Ltd.
• CeramTec GmbH
• CoorsTek Inc.
• Du-Co Ceramics Company
• Kajaria Ceramics
• MOHAWK INDUSTRIES, INC.
• Morgan Advanced Materials
• RAK CERAMICS
• Saint Gobain

Harnessing Power Safely: Surge Protection Devices Market Projected to Reach $4.88 Billion by 2030!

 

Surge Protection Devices Market Growth & Trends

The global surge protection devices market size is expected to reach USD 4.88 billion by 2030, growing at a CAGR of 6.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the growing need to protect electronic devices from any potential surges. The alternative energy programs being pursued aggressively all over the world and the growing instances of lightning strikes stemming from the increase in global warming are some of the other factors that are expected to drive the demand for surge protection devices (SPD) over the forecast period.

A surge occurs due to voltage imbalances, interferences in transformers, radio interferences, or differences in potential. Electronic devices can be highly vulnerable to transient voltages. At this juncture, surge protection devices are widely used in electrical installation systems to protect electronic devices. Surge protection devices can be considered a cost-effective solution to improve the system and data reliability while preventing any undesirable downtime.

The players in the market are focused on the new product development of surge protection devices. For instance, in March 2023, Transtector Systems, a power and signal integrity solution provider launched a new outdoor, 10 GbE, PoE++ data surge protector. It is designed to be used with 10 Gigabit Ethernet and PoE++ networks, WISP/ISP, telecom base stations, point-to-point links, IT and data centers, sense loops, control lines, and other applications. It provides protection against electrical transient surges produced by both internal switching events and lightning strikes.

The outbreak of the COVID-19 pandemic took a severe toll on the surge protection devices market. The fluctuations in raw material prices owing to supply chain disruptions stemming from the restrictions on the movement of people and goods and the temporary closures of manufacturing plants as part of the efforts to arrest the spread of coronavirus in the wake of the outbreak of the pandemic restrained the growth of the market. However, the growing adoption of protection systems for high-technology equipment in various emerging economies is expected to create new growth opportunities for the market over the forecast period.

Request a free sample copy or view report summary: 
Surge Protection Devices Market Report

Surge Protection Devices Market Report Highlights

• The hard-wired segment dominated the market in 2022. The growing adoption of hard-wired SPDs in commercial, residential, and industrial applications to detect and limit power surges and transient voltages that can potentially damage any equipment connected to signal and power lines is expected to drive the growth of the segment over the forecast period.
• The Type 1 segment is expected to grow at the highest CAGR over the forecast period. Type 1 SPDs are particularly used to protect electronic equipment from lightning surges. Type 1 SPDs are considered the first line of defense for any home or office electrical infrastructure.
• The 50.1–100 kA segment is anticipated to witness significant growth over the forecast period in line with the rapid residential and commercial infrastructure development across the globe.
• Industries & manufacturing units are the major end users of SPDs. SPDs provide industrial and manufacturing machinery with safer interlock circuits that can effectively protect electrical and electronic equipment from any overvoltage stemming from switching or lightning surges.
• Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to the aggressive investments being made to cater to the rising demand for energy in line with the growing population. The increasing residential and commercial construction activities in the region are also expected to contribute to the growth of the regional market over the forecast period.

Key Companies & Market Share Insights

The market can be described as highly competitive owing to the presence of several prominent players. Key strategies adopted by the market players include new product development, capacity expansion, merger & acquisition, strategic collaborations, partnerships, and agreements; and investment in research & development activities. Companies, such as General Electric Company, are particularly focusing on providing power strips and wall tap surge protectors. Companies are particularly providing 6-outlet, 2-outlet, 4-outlet, and 8-outlet power strip surge protectors.

Having realized that product quality is the key aspect of the market, key players are focusing on enhancing their product portfolios. Key players are primarily focusing on developing sophisticated and innovative products based on extensive research and development. For instance, in June 2023, Littelfuse, Inc., an industrial technology manufacturing company, launched the National Electrical Manufacturers Association (NEMA) style Surge Protective Device (SPDN) series to protect equipment from transient overvoltage situations that last for micro-seconds and help reduce downtime and costly damage. Some of the prominent players in the global surge protection devices market are:

• ABB Ltd.
• General Electric Company
• Schneider Electric
• Eaton Corporation plc
• Legrand
• Emerson Electric Co.
• Siemens
• CG Power and Industrial Solutions Limited
• Littelfuse, Inc.
• Bourns, Inc.

Parenteral Nutrition Market Size To Reach $10.7 Billion By 2030

 

Parenteral Nutrition Market Growth & Trends

The global parenteral nutrition market size is expected to reach USD 10.7 billion by 2030, registering a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing incidences of chronic diseases, such as cancer, diabetes, and other neurological conditions; surge in essential nutrition deficiency among critically ill patients; and growing awareness pertaining to hospital-related malnutrition are few key factors increasing the adoption of parenteral nutrition. Parenteral drug administration provides the benefit of fast action and lower dose delivery, which prevent various adverse effects because of dietary imbalances, thereby promoting market growth.

However, the high risk of infection during administration and the growing preference for enteral nutrition among patients are major factors restricting the market growth. With the increasing population, healthcare costs and food expenditures for a household and the nation are growing. Hence, a higher birth rate is expected to impact nutrition levels, thereby acting as a driver for the market. Realized natality plays a more prominent role than absolute natality (crude birth rate), as it includes environmental as well as resource pressures, such as water, food, and medication requirements per birth. Realized natality has been growing in the last decade and is anticipated to maintain growth over the forecast period.

In 2020, the natality rate reported by the National Center for Health Statistics (NCHS) is 11.99 births per 1,000 population. Furthermore, the percentage of lower-weight infants was 8.0%, thereby boosting the demand for PN products worldwide. Furthermore, the presence of a large population base, aged above 60 years, suffering from low immunity levels, and prone to incidence of neurological diseases, cardiac problems, cancers, and spinal injuries, is a high-impact rendering driver for the parenteral lipid emulsions market over the forecast period. This population is expected to avail the latest surgical treatments, which is expected to increase their life span, thereby driving the need for intensive care & postoperative treatment, inclusive of PN products, such as lipid emulsions.

Request a free sample copy or view report summary:
 Parenteral Nutrition Market Report

Parenteral Nutrition Market Report Highlights

• Key players operating in the market are mainly focused on enhancing patient safety. Companies are also focusing on advancing their PN products to complement the parenteral nutrition compounding by incorporating technologies, such as barcode-assisted medication.
• The ability to provide improved lipid and protein formulations to patients is one of the key parameters that companies leverage to differentiate their products from competitors
• Also, high infection rates, poor water quality & sanitation facilities, and lack of awareness are prevalent factors increasing the incidence of malnourishment in developing nations, which creates a significant demand for PN sources, thereby aiding market growth
• The single-dose amino acid solution nutrient type segment dominated the market in 2022 due to the introduction of newly available amino acid solutions with minimal side effects
• In 2022, the adult segment held the largest share due to increased adoption of parenteral nutrition products owing to the rising prevalence of various chronic diseases, such as Alzheimer’s disease, sarcopenia, cancer, and diabetes among this age group
• The others indication segment dominated the market in 2022 due to the increased prevalence of Crohn’s disease, cystic fibrosis, pancreatitis, other cancer-related treatment, and other health ailments
• In 2022, institutional sales channels dominated the market owing to the high number of private & public healthcare institutions and the increased patient population with chronic disease
• North America dominated the global market in 2022 owing to the rising incidence of chronic conditions & malnutrition, coupled with increasing U.S. FDA approvals in the region

Dental Practice Management Software Market Worth $4.9 Billion By 2030

 

Dental Practice Management Software Market Growth & Trends

The global dental practice management software market size is expected to reach USD 4.9 billion by 2030, exhibiting a CAGR of 10.25% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising number of dental clinics and hospitals, and strong government support have boosted the adoption of Electronic Dental Records (EDRs), which are primary factors driving the market growth. The ADA estimated that there will be 201,927 practicing dentists in the United States in 2021, a 1.7% increase from 2017. Numerous individuals are graduating from dentistry schools & colleges and starting their own practices. This effectively expands the potential client base.

According to ADA’s forecasts, there will be 67 dentists for every 100,000 people in the United States by 2040. As the younger generation is more receptive to software usage and is willing to learn and accept new technologies, the growing number of young dentists in the United States is predicted to boost the demand for DPM software. Various initiatives undertaken by governments in the U.S. and European countries are likely to boost the healthcare IT market. This, in turn, is expected to drive the DPM software market. For instance, in 2009, the HITEC Act was passed to encourage the healthcare IT industry in the U.S. This has further boosted the adoption of healthcare software in the country.

European countries are also undertaking several initiatives to promote healthcare IT. Some of the noticeable initiatives include Interoperable Delivery of European eGovernment Services to Public Administrations, Businesses, and Citizens (IDABC); Elektronische Gesundheitskarte (Germany); Norwegian Healthcare System (Norway); e-Card (Austria); Imprivata; Sentillion; CAREfx; IBM Tivoli Access Manager; HealthCast, Inc.; and Sense.

The onset of the COVID-19 pandemic resulted in increased hospitalizations, which is unprecedented in public health. National lockdowns and emergencies were proclaimed in many nations to stem the spread of the virus. Most oral health problems and scheduled dentist appointments were considered non-emergency. As a result, oral care procedures were put on hold because of the potential for transmission. According to the ADA, oral care spending in the United States fell by 38% in 2020. As a result of the unparalleled impact of the COVID-19 pandemic, the new installations of DPM software declined.

Request a free sample copy or view report summary: 
Dental Practice Management Software Market Report

Dental Practice Management Software Market Report Highlights

• Based on deployment mode, the web-based segment dominated the market in 2022 owing to the reasonable pricing structure and high demand
• The cloud-based segment is projected to witness the fastest CAGR during the forecast period, due to factors such as flexibility, disaster recovery system, automatic software updates, increased collaboration, ability to work on any internet-connected device, security, and user-friendly features
• Based on application, the patient communication segment dominated the market in 2022. The majority of hospitals and clinics use DPM software for appointment scheduling, postponement/cancellation, and follow-ups. This is boosting segment growth
• In terms of end-use, the dental clinics segment dominated the market in 2022, on account of the increased number of dentists and oral care visits
• North America dominated the global market in 2022 owing to the high demand for the latest technologies, high oral healthcare expenditure, and the strong presence of key players in the region
• Asia Pacific is anticipated to register the fastest CAGR from 2023 to 2030 owing to the rising awareness about oral healthcare and increasing investments by industry players in the regional market
• In December 2022, Henry Schein, Inc. signed a definitive agreement with the shareholders of Biotech Dental S.A.S., a rapidly growing provider of innovative clinical software and oral surgery & orthodontic products based in Salon-de-Provence, France, to acquire a majority ownership stake in the company

Hereditary Testing Market Size To Reach $12.73 Billion By 2030

 

Hereditary Testing Market Growth & Trends

The global hereditary testing market size is expected to reach USD 12.73 billion by 2030, registering a CAGR of 8.4% over the forecast period, according to a new report by Grand View Research, Inc. Key factors driving the market are the declining cost of sequencing and the availability of genetic tests at a lower price. Furthermore, the availability of niche and fragmented point solutions across the genomics value chain, namely sequencing, analytics, interpretation, aggregation, and marketplace, is anticipated to propel the market growth over the forecast period.

The advent of direct-to-consumer genetics is anticipated to play a major role in the genetic testing market by enabling individuals to carry out self-testing. This expands the role of genetic counselors, which further aids in understanding the importance of genetic tests and helps in the selection of appropriate tests. A growing number of registered genetic counselors is anticipated to boost the adoption of hereditary genetic tests in the coming years.

Another important market trend is the growing field of reproductive genetic health. For instance, Natera has seen a consistent increase in test numbers in hereditary illnesses genetic analysis for women’s health. This indicates a rise in public acceptance of hereditary testing, which is fueling the market expansion. A rise in the trade of newborn screening equipment has corresponded with a rise in the trade of DNA experiment equipment. Progressing the sharpness of newborn screening all over the world is also assisting in earnings increase. A multigene board trial was formed for introducing genetic melanoma into the clinical application, which has been prompted by changes in genetic experimentation standards. The growing generative hereditary health scope is one of the most important key factors driving the market.

The COVID-19 pandemic had a detrimental impact on the market. For example, after the World Health Organization declared COVID-19 a pandemic, governments all around the world used lockdowns to compel social distancing as a prophylactic measure. In every industry, this resulted in upheaval, constraints, challenges, and adjustments. Similarly, the outbreak has a negative impact on the inherited genetic analysis sector.

Technology developers are introducing advanced products to enhance the efficiency of genetic tests by diagnostic companies. For example, in December 2020, the QuantiFERON SARS-CoV-2 RUO solution was introduced by QIAGEN, a business that provides technologies and products for pre-analytical samples and related molecular test solutions. The solution detects immune system T-cell responses to the infection that causes COVID-19. The solution would give precise information on illness development and immunity levels.

Request a free sample copy or view the report summary: 
Hereditary Testing Market Report

Hereditary Testing Market Report Highlights

• The hereditary cancer testing disease type segment dominated the market with a revenue share of over 80.0% in 2022 and is expected to expand at a significant CAGR over the forecast period. A substantial number of CLIA-certified laboratories perform tests to determine whether an individual carries an inherited mutated gene that can cause cancer
• The breast cancer testing segment dominated the hereditary cancer testing market in 2021 owing to its high penetration and increased inheritability. Most of the cases of cervical cancer are non-hereditary, resulting in the lowest revenue share of this segment
• In the hereditary non-cancer testing disease type segment, the cardiac diseases segment is driven by the emergence of high-throughput sequencing, which has resulted in the commercial availability of a significant number of sequencing assays for cardiomyopathies
• The Non-invasive Prenatal Testing (NIPT) and cancer screening tests segment and the newborn genetic screening segment continue to witness lucrative growth due to the increased adoption across the globe
• Moreover, the newborn screening program has been made mandatory in several regions and countries, resulting in the growth of newborn genetic screening in the hereditary non-cancer testing disease type segment
• Europe accounted for the largest revenue share of over 34.8% in 2022 owing to the assisted reproductive technology space, coupled with the high penetration of newborn genetic screening
• Key companies are engaged in securing regulatory approval in emerging countries to expand their business footprint. A substantial number of diagnostic companies have collaborated with technology developers to obtain technology licenses and deliver high-value services to their customers

3D Printing Plastics Market Size Worth $5.4 Billion By 2030

 The global 3D printing plastics market size is expected to reach USD 5.4 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 24.0% from 2023 to 2030. The market is projected to witness substantial growth due to rising demand from various end-use industries such as medical, automotive, aerospace and defense, and consumer goods. Properties such as clarity in the image, high durability, high impact resistance, excellent UV and temperature resistant, sliding friction, high chemical resistance, rigidity, and dimensional stability are significantly fueling the demand for 3D printing plastics in the above-mentioned end-use industries across the globe.

3D printed products assist significantly in attaining economies of scale through the consumption of lesser lead time, reduced costs, and mitigated risks. 3D plastics also allow easier customization as per the consumers’ needs. Thus, attracting favorable government regulations across various end-use industries such as automotive, medical, and consumer goods. Asia Pacific is anticipated to expand at a lucrative CAGR over the forecast period. The medical end-use segment in the region is expected to witness substantial growth over the forecast period on account of the increasing applications of 3D plastics in prototyping, custom orthodontic implants, prosthetics, medical instruments, and others.

Moreover, the rising demand for high-quality medical instruments and components from hospitals in major economies, such as China, India, and Singapore, is anticipated to create lucrative opportunities in the medical industry. Furthermore, the recent outbreak of COVID-19 in countries such as India, China, Australia, Japan, and Malaysia is creating a high demand for 3D printing plastics, especially in face shields, 3D printed masks, and filter cover applications. Thus, the rising positive cases in the region are projected to significantly boost the market growth.

The consumer goods segment is emerging as a significant end-use of 3D plastic products on account of the reduced lead time offered by additive manufacturing techniques. Innovative additive manufacturing solutions enable the production of designer parts with complex geometries. Thus, facilitating the manufacturers to cater to rising consumer needs for personalized parts.

The photopolymers segment is anticipated to progress at a substantial rate over the forecast period. Massive demand for photopolymers is attributed to high consumption in the production of industrial prototypes through the utilization of SLA technology. Polyamide/nylon is anticipated to witness the fastest growth during the forecast period on account of the rising demand from both domestic as well as commercial applications. The demand for polyamide/nylon is majorly contributed by laser sintering technology.

Request a free sample copy or view the report summary: 
3D Printing Plastics Market Report

3D Printing Plastics Market Report Highlights

• North America dominated the 3D printing plastics market and accounted for more than 40% share of the global revenue in 2022.
• Photopolymers type segment led the market and accounted for more than 58% share of the global revenue in 2022
• Photopolymers are used extensively across several application industries as they act as a binder, additive, colorant, plasticizer, and as a chemical agent in the 3D printed product
• In May 2019, Materialise collaborated with Essentium, HP, and Nikon to enhance connectivity and productivity in the manufacturing operations of additives. This collaboration was announced during the 3D printing and additive manufacturing event 2019 RAPID+TCT Conference and will help the adoption of 3D printed products in industrial manufacturers

Blow Molded Plastics Market Size Worth $121.8 Billion By 2030

 

Blow Molded Plastics Market Growth & Trends

The global blow molded plastics market size is anticipated to reach USD 121.8 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to propel at CAGR of 5.3% from 2023 to 2030. Increasing requirement for substitution of glass, metals, wood, natural rubber, and man-made materials, such as concrete, is driving the global blow molded plastic market. Various products such as olefins, polystyrene, PVC, PET, and other plastics are rapidly replacing most materials in automotive, construction & infrastructure, medical & healthcare, and consumer goods applications.

Amid the global COVID-19 pandemic and lockdown, the demand for plastic resins and blow molded plastics has dropped significantly, which is expected to rise gradually as the lockdown is lifted, cross-border trade is re-established, and industries begin to operate in full capacities. China, India, Malaysia, Indonesia, and others are expected to be the primary growth markets in the region. Growing manufacturing sector shall drive the demand for plastic compounds in automotive, construction, packaging, and consumables & electronics industries. In the recent past, China and India have witnessed a spike in the production of automobiles owing to transfer of technology to this sector from western markets.

Less density associated with plastics helps increase fuel efficiency and improve machinery performance, thereby reducing carbon emissions. Carbon emissions are chemical compounds produced from poorly burnt fuels like natural gas, crude oil, and coal, which enter the surrounding air. Most carbon emissions are hazardous in nature and very detrimental to the environment and all living beings.

Some of the key players operating in the blow molded plastics market are Magna International, Inc., INTERNATIONAL AUTOMOTIVE COMPONENTS GROUP, S.L. (IAC Group), Berry Global, Inc., Pet All Manufacturing, Inc., Inpress Plastics Ltd., Dow Inc., Comar, LLC, Rutland Plastics Ltd, The Plastic Forming Company, Inc., Agri-Industrial Plastics, Garrtech, Inc., Creative Blow Mold Tooling, North American Plastics, Ltd., Machinery Center, Inc., Custom-Pak Ltd., APEX Plastics, INEOS Group, LyondellBasell Industries Holdings B.V., Exxon Mobil Corporation, and Exxon Mobil Corporation.

Request a free sample copy or view report summary: 
Blow Molded Plastics Market Report

Blow Molded Plastics Market Report Highlights

• The market is valued at USD 80.5 billion in 2022 and is expected to reach USD 121.8 billion in 2030 at an estimated CAGR of 5.6% from 2022 to 2030, owing to the growing demand for plastic products and services, particularly in the emerging markets of Asia Pacific and Central and South America
• The machinery and equipment cost of injection blow molding technology could range from USD 37,500 to USD 400,000, which is relatively higher than that of extrusion blow molding machinery. This anticipated to be a major disadvantage, mainly for the new market participants
• Polypropylene is primarily used in flexible packaging of certain food and confectionery items, clothing, tobacco, and others. Apart from flexible packaging, it has vivid use in rigid packaging of PP bottles for mineral water and edible oils. It is also used in automotive, consumer products such as housewares, furniture, appliances, luggage, and other applications
• Plastics composed on BPA breakdown when they are washed, heated, or stressed and can contaminate food and water through leaching from the packaging lining. This has also attracted various scientific studies to be performed, while regulatory agencies such as FDA and EFSA have put a partial ban and approved content
• Application of blow molded plastics in medical sector has been very less in comparison to the other application segments. Amid the global COVID-19 pandemic situation, the demand for various pharmaceutical products, disinfectants, and sanitizers has increased. This, in turn, is driving the demand for blow molded plastics in medical application

Food Preservatives Market Size To Reach $4.16 Billion By 2030

 

Food Preservatives Market Growth & Trends

The global food preservatives market size is expected to reach USD 4.16 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2024 to 2030. The fast-paced working lifestyle of consumers in North America and the Asia Pacific has been instrumental in driving the demand for ready-to-eat products. Consequently, the use of food preservatives is expected to grow owing to benefits provided by them, such as the prevention of food spoilage and an increase in shelf life.

Food preservation is a traditional method used to store and keep food safe for longer periods. Over time, the method has evolved from the usage of culinary salt and sugar to chemical types. Globalization has led to the increased demand for synthetic types. The usage of preservatives in various application sectors including processed meat, bakery, and dairy is expected to substantially fuel the market growth during the forecast period.

Food preservatives are categorized into two types, namely natural and synthetic. Rosemary extracts, vinegar, and natamycin are natural types, whereas propionates, benzoates, and sorbates are included in the synthetic type, which is the most preferred one. Factors such as adverse effects associated with synthetic food preservatives and increasing health consciousness among consumers are anticipated to drive the demand for natural variants.

The COVID-19 pandemic placed increased importance on packaged food that is deemed uncontaminated and is expected to witness further growth. Bakery products witnessed significant growth during the pandemic period, resulting in the increased utilization of preservatives used in baked goods. With the current and future possible emergence of new strains of the coronavirus, stakeholder scrutiny has increased, which is expected to drive the market for food preservatives.

Request a free sample copy or view report summary: 
Food Preservatives Market Report

Food Preservatives Market Report Highlights

• Asia Pacific is expected to register the fastest CAGR of 6.8% from 2024 to 2030. It is primarily driven by factors such as increasing population, consumer willingness to pay premium prices for organic products, and preferences for ready-to-eat foods due to convenience
• In 2023, anti-microbial food preservatives dominated the market with a share of over 75.0%. Sorbates, benzoates, and other chemicals act as anti-microbial preservatives and are categorized as generally recognized as safe (GRAS) in the U.S.
• In the natural type segment, rosemary extracts are expected to expand at the highest CAGR during the forecast period. Rosemary extracts are a part of clean label preservatives and are being extensively used due to the consumer preference for natural preservative ingredients
• Some of the major strategies adopted by the major players in the industry are product innovation, most notably in the natural preservatives industry space, and capacity expansion through mergers and collaborations

Sex Toys Market Size Worth $62.3 Billion By 2030

 

Sex Toys Market Growth & Trends

The global sex toys market size is expected to reach USD 62.3 billion by 2030, based on a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.50% during the forecast period. Women aging from 16 to 70 years old are indulging in the pleasure of adult toys. The stigma of using these products to replace a partner has long been broken by couples who enjoy these toys from time to time, which is expected to drive market growth.

The impact of the COVID-19 pandemic is expected to create an economic downturn in all industries as the majority of countries are in lockdown. However, the initial impact of the country-wide lockdowns across the world exhibited a boost in sales of sex toys. During the COVID-19 customers shifted towards app-enabled sex toys and Bluetooth-powered toys also known as teledildonics to reduce the consumption of harmful chemicals in sex toys.

Sex toy manufacturers are undertaking various initiatives such as marketing & advertising products in unique ways and running awareness campaigns. Advertisements featuring well-known or popular pornstars drive interest and increase sales of the product. LELO launched a wave of Stay home and Save deals applicable for the entire month of May 2020, wherein the company was offering up to 15% discounts on its products.

The growth is attributed to the launch of new products in the novelty adult segment, sexual wellness, and self-love products. Affordable sexual wellness products, including vibrators, dildos, lubricants, and other toys, are entering the market, and the stigma associated with selling sexual things in traditional stores is dissipating. The move is expected to be due to a shift in demographics since millennials, and Gen Z has a different perspective on sexual wellbeing than baby boomers. The market for sex toys is profiting from the gradual disappearance of the stigma associated with masturbation, especially among married couples.

Asia Pacific is expected to be the fastest-growing market during the forecast period. China and Australia are the leading revenue generators in the market. The stigma surrounding sex is reducing among millennials and Gen-Z, who are more open to exploring new things to enhance their sexual experience. In March 2019, Reckitt Benckiser launched its direct-to-consumer e-commerce platform to sell its premium products in India.

Request a free sample copy or view report summary: 
Sex Toys Market Report

Sex Toys Market Report Highlights

• The female sex toys segment held the largest market share in 2021 and is expected to expand at the second-highest CAGR during the forecast period. Single women are among the leading contributors to the market growth
• Manufacturers are trying to reach a larger market via e-commerce sites. In developing countries where adult stores are not easily accessible, online retailers are meeting customer demand by offering a different range of products via discrete delivery and an added advantage of discounted rates
• Based on distribution channels, e-commerce platforms and online retailers held the largest market share in 2022. Increasing penetration of the internet and the availability of numerous sex toys on e-commerce platforms and anonymity are driving the growth of the segment
• North America held the largest market share in 2022, owing to the presence of numerous retailers providing easy access to products. In the U.S. and Canada, sociodemographic factors also play a role in the type of toy being preferred and its frequency of use
• With increasing disposable income in developing countries, consumers are opting for innovative products such as exquisite vibrators, BDSM gear, and anal toys. This increases opportunities for market players to capitalize on the growing demand for more high-end innovative products
• Emerging players backed by technological advancements are developing products that offer a more realistic experience. Brand leaders such as Doc Johnson, LELO, FleshLight, and LoveHoney have a global presence with a strong product portfolio. In July 2019, LifeStyles Healthcare announced the launch of three new intimate accessories under its SKYN brand-SKYN Thrill, SKYN Vibes, and SKYN Shiver

Revenue Cycle Management Market To Reach $658.7 Billion By 2030

 

Revenue Cycle Management Market Growth & Trends

The global revenue cycle management market size is expected to reach USD 658.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.5% from 2023 to 2030. Growing digitalization of healthcare is driving organizations to adopt healthcare IT solutions such as revenue cycle management (RCM) systems. Unorganized data siloes generated from multiple healthcare functionalities and the increasing need to streamline workflows to enhance productivity and efficiency are driving the adoption of RCM systems and propelling market growth.

The existing healthcare systems are transitioning and readily adopting electronic processes for claims management, coding, and reimbursements. The growing digital literacy across the globe and increasing healthcare IT spending coupled with technological advancements in healthcare infrastructure are anticipated to boost the market growth. Rising demand for workflow optimization and favorable regulatory support from government bodies is shaping development and growth. Transforming healthcare systems and constant technological advancements are driving key players to focus on their innovative product development strategies to enhance the patient-provider relationship in healthcare facilities.

Market players are focusing on partnerships and technological collaborations with other players to expand their business footprint and grow their clientele. For instance, in January 2020, Professional Recovery Consultants (PRC) and Continuum Health Technologies entered into a partnership to improve healthcare claims denial management. This partnership includes the combination of PRC’s advanced claims services with Continuum Health Technologies’ proprietary software-Patient Estimator and Denial Challenger-which automate follow-ups on active receivables, reduce claim denials, and offer pricing transparency during the claim’s lifecycle. The partnership is expected to offer healthcare providers a cost-effective and automatic way of managing the collection process, along with providing pricing transparency to patients and the industry as a whole.

Similarly, key players are launching innovative product solutions to expand their product portfolio and cater to the growing global demand. For instance, in February 2020, Waystar Health inaugurated Hubble, which is an AI/RPA platform used for automating revenue cycle processes. The Hubble platform increases revenue capture with the help of advanced machine learning and predictive analytics algorithms, which automatically recognize DRG anomalies, missing charges, and coding variances, based on a company’s past charging practice, generating millions of net revenues for its clients every year.

Request a free sample copy or view report summary: 
Revenue Cycle Management Market Report

Revenue Cycle Management Market Report Highlights

• In 2022, the services segment accounted for major portion of the market owing to growing number of providers outsourcing RCM services
• The integrated segment dominated the market in 2022 owing to the growing demand for a coordinated format to manage various financial activities through a single platform
• Based on delivery mode, the web-based segment held the maximum market share in 2022 owing to numerous benefits offered by web-based solutions over on-premises deployed systems
• The physician back-office segment dominated the market in 2022 owing to the growing number of physician offices in developed countries such as the U.S.
• North America dominated the market in 2022 owing to the presence of well-established, large healthcare facilities and an increasing number of physician offices