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Drilling Fluids Market Size, Top Players, Trends in Upcoming Years
Drilling activities take place regularly all over the world, sometimes for the exploration of crude oil, and also for other purposes. When you are drilling in the ground or underwater, for that matter, it is very important to keep the shape of the bore intact. For this reason, drilling fluids are used.
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But what are drilling fluids and what is exactly their purpose during the process of drilling, you will understand after reading this blog.
Drilling fluids are oil, water or synthetic-based; each provides diverse solutions in the well. In case, it is a rock of clay or salt, there is a need of suitable action for making drilling fluids effective. Actually, a drilling fluid engineer performs drilling monitoring and adds the drilling fluid through the process for escalating the process of digging or decreasing the friction.
An engineer should keep in mind the impacts on the environment when he/ she is to prescribe a drilling fluid along with the properties and chemical composition of the well. Oil-based drilling fluids can be a good option for a saltwater rock. Water-based ones are frequently used in the environments of offshore drilling.
Why are Drilling Fluids Used?
Throughout the process of drilling with any borer, there is a formation of drill chips. These are crumbs formed by excavation of the drilling site.
The chips don’t matter till the time the drill stops, but with the stopping of the drill, the chips are thrown back into the hole and stop the smooth movement of the drill.
These fluids prevent all this from taking place. These fluids have a specific consistency, and with the stoppage of the drill, their viscosity brings about hardness to them. The same feature supports the chips for getting out of the borer.
Apart from the drilling fluids, drilling mud also controls the inside pressure of the well by recompensing the compression of rock formations and hydrocarbons. In fact, for increasing its density and thus its pressure on the well walls, it is mixed to the drilling fluid, which as its fluid weight rises, changes its capability to control the pressure of the well.
One more vital function of drilling fluids is the stabilization of rocks. These fluids make use of special additives for ensuring that the drilling fluid is not engrossed by the formation of the rock in the well and that there is no blockage to the pores of rock formation.
There is a need for more drilling pipes, if the well is too. With this, the drill is heavy, and so, the drilling mud surges buoyancy and decreases the pressure. Furthermore, the drilling fluid reduces heat and friction. This cooling and lubrication help in extending the life of borer.
Clearance of drilling fluids post usage can also be a challenging thing to do. Recent tech progressions have created approaches for the recovery of the fluids, which will also help you save on the cost of drilling fluids, decreasing the ecological damage of drilling chips and fluids on the environment.
With increasing number of drilling procedures taking place, the demand of drilling fluids will also show an upward shift.
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Not many of us are aware that more than sixty thousand women die due to poor menstrual health every year in India alone. The social stigma attached to menstrual health results in poor awareness.
Menstrual health is an essential aspect of every woman's life. It refers to the physical, emotional, and social well-being during the menstrual cycle. Menstruation is a natural process that occurs in every woman's life from puberty to menopause. It is crucial to maintain good menstrual health as it affects overall health and well-being.
The menstrual cycle is a recurring process that happens approximately every 28 days in most women. It involves the shedding of the uterus lining, which occurs through bleeding. During the menstrual cycle, women experience various physical and emotional changes that can affect their daily lives. These changes include mood swings, fatigue, cramps, bloating, and headaches.
Maintaining good menstrual health requires proper management of menstrual hygiene, diet, exercise, and stress levels. It is also essential to address any underlying medical conditions that may affect the menstrual cycle, such as polycystic ovary syndrome (PCOS) and endometriosis.
In order to improve menstrual health, Hamari Pehchan has launched Project Sukhad.
The project was launched in the recent past by a Delhi based social impact organization, Hamari Pehchan. The objectives of the project are to create awareness, raise funds and distribute sanitary pads among underprivileged women.
Our selfless approach has changed lives of thousands of women over several months.
The project aims to achieve sustainable development goals like ending poverty, ensuring healthy lives and empowering women.
Logistic software market enables associations to organize complex activities and techniques from the purpose in starting to the place of utilization. Operations incorporates the board of the progression of data, material dealing with, stock, creation, bundling, warehousing, transportation, and conveyance.
The Logistic software market assists associations with taking care of their coordinated operations, armada the executives, request arranging, ERP suites, stockroom the board, and transportation the executives. Also, it gives scanner tag programming and stock control instruments.
Such components benefit clients to productively oversee tremendous volumes of stock and synchronizes processes across various offices and workers. This multitude of benefits push the Logistic software market development way higher.
The logistic software market is exhilarating at a rapid pace. Therefore, the expected market valuation by the end of 2030 will reach around 17.76 Billion with a CAGR of 8.31% during the forecast period 2020-2030.
As per the Logistic software market examination, the expense effective and efficient elements of the planned operations programming are supporting the market potential throughout the long term. The presence of a competitive scene is additionally inciting to bring out better arrangements which thusly prompts the advancement of the Logistic software industry.
A few grounded worldwide brands, just as new participants, are making vital consolidations and acquisitions to give clients a superior stage to overseeing strategies. Moreover, these sellers are chipping away at advancements and a more financially savvy programming portfolio that prompts advancing the Logistic software deals in the impending occasions.
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Logistic Software Market Competitive Landscape:
Tech Mahindra, Advantech Corporation, SAP AG, Digilogistics, Samsung Electronics Co, UTI Worldwide Inc., Oracle, Hexaware Technologies, JDA Software, IBM Corporation
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By Software Type:
The Logistic software market section based on programming type contains different administration apparatuses that can back out errands of associations. The section is bifurcated in the process of childbirth the executives, information the board, transportation the executives, and distribution centre administration.
In this section, the Logistic software market incorporates various areas like North America, Asia-Pacific, Europe, and the excess regions of the planet. The significant nations that add to the development of the market in the North American district are Canada, Mexico, the US. The Asia-Pacific district is bifurcated into Japan, China, India, and the remainder of the Asia Pacific area. Additionally, Europe is divided into France, Germany, the UK, and the remainder of Europe.
The end-client portion comprises of areas like telecom and IT, government and protection, medical care, car, oil and gas, modern, designing, and fabricating, and numerous others.
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The Logistic software market examination is done on numerous topographies like North America, Asia-Pacific, Europe, and the leftover regions of the planet. The Asia-Pacific district represents the greatest Logistic software piece of the pie attributable to the expanding interest for very good quality innovation reception and taking off up hardware industry in the area.
The nations like China, India, and Japan contribute the most to the development of the market size. Fast industrialization and digitalization will help the market development in Asia-Pacific in the gauge time frame.
The developing medical services and IT area in the North American locale assist it with developing the operations programming interest in the district. It will advance the Logistic software market development of the district to the greatest potential sooner rather than later.
Read More: https://babafig.com/blogs/16532/Body-worn-Camera-Market-Estimated-to-Grow-with-a-Healthy
How is Rising Prevalence of Infectious Diseases Fuelling Growth of European Cleanroom Technology Market?
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The rising incidence of infectious diseases is one of the key factors resulting in the increasing demand for the cleanroom technology in Europe. As per the European Centre for Disease Prevention and Control (ECDC), human immunodeficiency virus (HIV) infection is one of the most prevalent diseases in the region, with almost 30,000 new cases recorded every year. It was reported that approximately 29,444 people were suffering from HIV in 31 countries of the European Union (EU) in 2016. The other most common diseases prevalent in the region are hepatitis B, respiratory tract infections, and tuberculosis, which is raising the demand for drugs and medical devices.
The other major factors propelling the demand for cleanroom consumables and equipment in Europe are the soaring investments in research and development (R&D) aimed at producing new medicines for the treatment of various diseases and ailments, and the growing biotechnology and pharmaceutical industries in the region. As per the European Federation of Pharmaceutical Industries and Associations (EFPIA), investments worth $41,822.4 million were made by the industry in R&D in 2016, which significantly pushed the adoption of cleanroom technology in the region.
In Europe, pharmaceutical production is increasing at a rapid rate, mainly due to the rising demand for drugs, on account of the increasing prevalence of chronic diseases and surging geriatric population. As per the EFPIA, the region reported pharmaceutical production worth $337,825 million in 2016. Apart from pharmaceutical, cleanrooms are required in the medical devices and biotechnology industries. Out of these, the pharmaceutical industry recorded the highest usage of cleanroom consumables and devices in 2017, primarily due to the rising number of pharmaceutical companies in Europe, which are mandated to have cleanrooms.
Germany recorded the highest adoption of the cleanroom technology in Europe in the past, and this trend is expected to continue during the forecast period. This is mainly attributed to the increasing number of cleanroom technology providing companies and ballooning incorporation of cleanroom products in the biotechnology and pharmaceutical companies in the country. France is predicted to register the fastest growth in the adoption of the cleanroom technology in the continent in years to come, owing to the presence of numerous companies offering and using these solutions. As a result, the European cleanroom technology market will grow rapidly in France.
Hence, it is clear that owing to the burgeoning demand for a pollutant- and contaminant-free environment in the pharmaceutical, biotechnology, and medical devices industries and increasing awareness regarding hygiene and sterilization, the demand for cleanrooms will rise in Europe in future.
Which Country Offers Most Lucrative South American Internet of Things Market Investment Opportunities?
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One of the predominantly developing regions of the world, South America is rapidly embracing technological advancements. Governments of regional countries as well as private companies are increasing their investments in the development of information technology (IT) infrastructure, with the aim to enhance the communication network. The reach of the radio-frequency identification (RFID), near-field communication (NFC), artificial intelligence, robotics, and low-power wide-area network (LPWAN) technologies is expanding in the continent, which is resulting in the deployment of internet of things (IoT) solutions.
For IoT to work properly, establishing a sound telecommunication network is the first step, which is why the focus on increasing the penetration of 5G in the region is high. This is encouraging an increasing number of start-ups to enter the region and work on the advancement of 5G. Once in place, the high-speed internet connection and IoT technology are expected to result in considerable progress in the setting up of smart cities in the region, which would drastically change the way resources are consumed.
Building and home automation, government, manufacturing and automotive, energy and utilities, retail, healthcare and hospitality, agriculture, logistics and transport, telecom, banking, financial services, and insurance (BFSI), education, media and entertainment, and almost every other industry in the continent is using IoT for some or the other purpose. Among these, the manufacturing and automotive sector currently uses this technology the most, majorly for quality and maintenance control, predictive analysis, and reducing cost and time of machine assessment, maintenance, and configuration.
Apart from manufacturing and automotive, the deployment of IoT is increasing in the agriculture sector, as it still accounts for the largest contribution to the economies of regional nations. Farmers are integrating a variety of sensor-powered devices to track the health of the crop and soil, securing their farmlands, and ultimately, increasing their productivity. For instance, a network of wireless devices was implemented in Colombia in September 2016 by Red Tecnoparque Colombia to the track temperature and humidity, moisture content of the soil, and diameters of tree trunks and fruits.
All the above-mentioned industries use IoT for security, real-time streaming analysis, remote monitoring, data management, and network bandwidth management. Since the deployment of IoT or any other device connected to the web results in an increase in the network traffic, an efficient system is required to handle it. Therefore, the demand for network bandwidth management solutions has been the highest in South America in the past, as it would allow for the transmission of high-volume traffic at an appreciable speed, without packet loss.
Being the most developed country in the region, Brazil is projected to be South American IoT market in the coming years. This would be a result of the increasing efforts of its government to implement the technology and a growth in its agriculture sector. For instance, the Intelligent Brazil program, implemented by its government, is aimed at providing internet access and developing IoT, artificial intelligence, and smart cities. Other reasons for the surging deployment of IoT in Brazil would be the increasing awareness of people about the concept, rising disposable income, and accelerating rate of urbanization.
Hence, with economic growth and heavy investments in technological advancements, the uptake of IoT solutions would escalate in South America.
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Wood vinegar or wood acid or pyroligneous acid is a dark liquid, which is derived from charcoal. It is obtained by heating biomass in a closed container. The smoke generated during charcoal production is cooled into a liquid and then separated into bio-oil, tar, and wood vinegar. The dark liquid is a combination of nearly 80–90% water and over 200 organic compounds, such as acetic acid, esters, formic acid, ketones, methanol, and phenol.
Moreover, the increasing implementation of government initiatives regarding bio-based products will also ensure the large-scale adoption of wood vinegar for wastewater treatment, food, animal husbandry, wood tar, and agriculture applications. In the recent past, the agriculture sector has emerged as the largest consumer of wood vinegar due to the enormous use of bio-based fertilizers and pesticides to increase productivity. For instance, the Ministry of New and Renewable Energy, Government of India, has launched several programs in recent times to promote the use of biomass materials and bio-based products, such as wood vinegar.
The manufacturing segment of the wood vinegar market is categorized into slow paralysis, fast and intermediate pyrolysis, and others. Under this segment, the slow pyrolysis category is expected to account for the largest market share during the forecast period as slow pyrolysis provides a better yield of wood vinegar, char, and other products than other manufacturing processes. In comparison to other processes, slow pyrolysis exhibits a longer vapor resistance time and slower heating rate.
In recent years, wood vinegar producers, such as TAGROW CO. LTD., Nakashima Trading Co. Ltd., Ace (Singapore) Pte Ltd., Canada Renewable Bioenergy Corporation, Byron Biochar, and Nettenergy BV, have engaged in technological advancements to develop better and improved pyrolysis kiln methods to produce char, biochar, and wood vinegar. Additionally, the advanced pyrolysis methods help enhance the production process of wood vinegar and reduce the total manufacturing process. Further, the producers are also focusing on involving poverty-ridden people in wood vinegar production processes as the material is majorly produced in villages by using local resources and feedstock.
Geographically, the Asia-Pacific (APAC) region held the largest share in the wood vinegar market in 2015. This was on account of the presence of a vast base of end users and the existence of a large number of local producers in the region. Moreover, the surging need for clean water, owing to the booming population, will also create a huge requirement for wood vinegar in the coming years. For instance, the World Bank states that the population of India surged from 1.353 billion in 2018 to 1.366 billion in 2019.
Thus, the escalating need for treated water and surging government focus on using bio-based products will fuel the consumption of wood vinegar globally.
What are the common Trends for Connected Cars?
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Few techniques are as prevalent as cellular connectivity. It has a significant effect on human life and this will only increase in the coming years. 5G subscriptions will have more than 50% of all mobile subscriptions globally by 2027.
There is a nearly 300 times surge in mobile data traffic in the last ten years. Cellular really does connect the world, and it is allowing the formation of complete ecosystems erected around data sharing. The influence of the automotive network and its connected vehicles will be massive. The way to travel is drastically changing with increased safety, superior pleasure, and less influence on the environs
The arrival of the connected car is unlocking a wide spectrum of opportunities. The primary thing is the ability for collecting data from vehicles. This is utilized for predicting maintenance needs, identifying which services can be enhanced, and will ultimately permit the car to function autonomously.
The automotive ecosystem has automakers, research bodies, and government, as well as the people and procedures driving collaboration and modernization. Automotive OEMs surely will develop new capabilities on their own, but by sharing the data of connected cars and resources with a better ecosystem, the speed of growth will advance significantly, helping all. Players create new business models while customers get improved, safer products. Shared data and acumens lay the basis for intelligent driving.
· Automakers are quickly introducing a new cohort of connected vehicles. Electric car brands like Tesla and Polestar are available today for customers to relish the expediency of constantly updated digital services over-the-air while enjoying emission-free transportation.
· Self-driving cars are still fairly early in their growth. Several entities are helping the maturing industry, with commencement levels of automation like ADAS, active cruise control, and lane assist systems. Highly and fully self-drive module of driving is still in primitive stages of maturity with progressive companies’ players like Einride stressing that the rapid progression of fully self-driving cars is only limited by regional exposure and the capability to share the data of connected cars.
· Shared mobility fleets like Volvo M and Renault’s Mobilize, are presently fueling the automotive industry. The data which is collected from shared mobility providers will guarantee that their fleets are efficiently operational for a long time, delivering sustainability benefits. These also provide burghs with the information required to better address the issues like traffic mobbing and more effective infra planning.
· The data collected from connected cars will also improve future vehicles. That said, for these tendencies to advance competently and securely, the industry must work toward achieving the goals together and be eager to share anonymized data between all the entities.
All these trends are seen in the connected car market of the U.S., and that’s the primary reason for the rapid growth of the demand for connected cars in the U.S. Almost, all the technological advancements in the automotive sector in contemporary times are based on the principle of storing and analyzing, the data which is stored in the connected cars.
Why is the Optical Metrology Market on the Roll?
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The optical metrology market will show positive growth in the coming years. The expansion of the market is attributed to the increasing demand for precise tools and equipment for measuring for inspecting electronic chips in semiconductor manufacturing. The market is segmented into video measuring machines, optical/laser scanners, and optical/laser scanners because of the increasing demand for non-contact measurement for inspecting various aerospace and automotive manufactured parts.
APAC has the highest growth rate in the optical metrology market, and China leading the pack. The main reason for this growth is the increasing requirement for the equipment of optical metrology for surface inspection, and measurement of the parts of the vehicles, supported by the snowballing vehicle production in China, and initiatives of the government for the launch of e- vehicles. China has sold over 2 million electric vehicles till now.
North America was the largest market, contributing over 30% in the past. This is credited to the growing automotive sector in the U.S., snowballing exports of aerospace products from the U.S., and growing spending by the country of the government on the military and defense sector.
The use of portable optical metrology devices has emerged as a key trend in the optical metrology market. Portable handheld optical metrology instruments like handheld optical scanners, portable articulated arms, and smart digital gauges with wireless data transporting capabilities have made the measurement of objects quick and expedient. These systems are largely accepted by the aerospace & defense, automotive, and industrial sectors to upsurge their production ability and lessen defects. These tools are often apt for simple geometric measurements like the measurement of hole diameters or the length and breadth of a component.
There is another tendency noted in the optical metrology market, and that is the espousal of laser scanners by the industries. There is a huge demand for the inspection of intricate and structured objects in the manufacturing sector. 3D laser scanners are used for identifying cracks or holes in factory-made objects and are used to measure the depth and dimensions of multifaceted objects. They are also used at heritage sites to measure historical structures for drawings and restoration. 3D laser scanners are also used for crime scene investigation helping provide records of the entire scheme of things.
With the beginning of manufacturing 4.0 and the IIoT, there would be an upsurge in mechanization and the requirement for in-line metrology. This would post a lot of worthwhile prospects for players in the optical metrology market players. Optical metrology combined with IoT has the potential to enhance the quality of production quite significantly by providing instant feedback for the examination of quality goods.
The demand for optical meteorology devices is because of the need for precise measuring tools and apparatus for the inspection of electronic chips in the industry of semiconductors.
Why Is Cosmetics Industry Using Soy-Based Chemicals?
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Soy-based chemicals are an alternative to traditional chemicals, which are derived from petroleum oil or crude oil. Soy milk and soy oil are the most-popular soybean derivates, being increasingly used in the food and beverage industry owing to their high nutrient content. Similarly, the cosmetics industry uses soy-based chemicals in the production of biodegradable soaps, deodorants, and perfumes. Thus, the increasing demand for high-nutrient-content food products and biodegradable cosmetics will fuel the consumption of soy-based chemicals worldwide.
Moreover, the surging need for biofuels, owing to the rising air pollution levels and depleting fossil fuel reserves, will augment the production of soy-based chemicals in the upcoming years. According to the World Health Organization (WHO), approximately 4.2 million deaths are caused due to ambient air pollution every year. Furthermore, the WHO states that the transportation sector and power sector should shift to clean modes of power generation, such as low-emission fuels, to mitigate air pollution levels.
Furthermore, the rising need for biofertilizers, eco-pesticides, and eco-insecticides, primarily on account of the degrading soil quality and depleting nutrient content in the earth's crust, is projected to create a huge requirement for soy-based chemicals. The World Wide Fund for Nature (WWF) propounds that half the topsoil of the Earth has been lost in the last 150 years and the soil quality has been compromised due to over-intensive agricultural practices. This has resulted in soil salinity, loss of soil structure, compaction, and nutrient degradation, which can be dealt with with biofertilizers and biopesticides.
The Demands of the food and beverage, cosmetics, plastics, and agriculture sectors for soy-based chemicals are met by VertecBioSolvents Inc., Elevance Renewable Sciences Inc., Cargill Inc., Soyaworld Inc., Archer Daniels Midland Co., Cara Plastics Inc., Bunge Limited, The Dow Chemical Company, and BioBased Technologies LLC. At present, these companies are heavily investing in developing countries to produce renewable chemicals as they hold a huge potential for the commercialization of these bio-based products.
As per P&S Intelligence, North America held the soy-based chemicals market share in the preceding years. In the coming years, Asia-Pacific (APAC) is expected to consume a considerable volume of such products due to the mounting investments being made in the renewable chemical sector of China, Singapore, and South Korea. Furthermore, the Middle East and African (MEA) and European regions are expected to create a huge requirement for such chemicals in the foreseeable future.
Therefore, the booming demand for bio-based fuels, nutrient-rich food products, biodegradable plastics, eco-fertilizers and eco pesticides, and bio-based cosmetics will propel the consumption of soy-based chemicals.
For more insights:- https://www.psmarketresearch.com/market-analysis/control-valves-market
The escalating energy demand, primarily on account of the booming population, is creating a huge requirement for control valves in the power sector. To meet the high electricity demand, the power industry needs to adopt upgraded equipment for producing, processing, and transporting energy, which narrows down the demand-supply gap considerably. The supply gap can be narrowed by using control valves, which are power-operated devices utilized to manipulate the flow of steam, water, and oil and gas in several power generation plants.
In recent years, the control valve manufacturing companies such as Emerson Electric Co., Honeywell International Inc., AVK Holding A/S, Samson AG, Goodwin International Ltd., Armstrong International Inc., Swagelok Company, IMI plc, General Electric Company, Schlumberger N.V. (Schlumberger Ltd.), Flowserve Corporation, and Metso Corporation have been focusing on the production of butterfly valves due to the increasing use of such variants in the industrial sector. The small size of such variants and their ability to close and open rapidly when actuated, has augmented their adoption in manufacturing facilities.
In addition to butterfly control valves, manufacturers are also offering ball valves, cryogenic valves, diaphragm valves, globe valves, gate valves, and plug valves to the power generation, food and beverages, automotive, oil and gas, pharmaceutical, mining, agriculture, wastewater management, and marine industries. In the coming years, pharmaceutical companies will adopt control valves at the highest rate as these devices aid in improving their production operations by minimizing uncertainties and maximizing efficiency. As pharmaceutical firms need to comply with stringent safety norms to enhance operational efficiency and mitigate risk, they will deploy control valves in large numbers.
Control valves utilized for various industrial applications are based on manual control, hydraulic control, pneumatic control, and electric control actuation technologies. To develop more advanced variants of control valves, manufacturers of these devices are actively focusing on expanding their product portfolio. For example, Samson AG completed the acquisition of SED Flow Control GmbH, a Germany based company, in September 2017, to expand its product portfolio for the food and beverage and pharmaceutical and biotechnology sectors.
According to P&S Intelligence, Asia-Pacific (APAC) dominated the control valves market in the recent past, and it is expected to adopt these devices at the highest rate in the forthcoming years. This is due to the accelerating economic growth, burgeoning need for energy, rising number of manufacturing companies, and improving infrastructure in the region. Among APAC nations, China adopts the highest volume of control valves, due to the surging number of infrastructural development projects and amplifying use of these devices in the automotive, oil and gas, water and wastewater treatment, and power generation industries in the country.
Thus, the rising demand for energy and burgeoning need for improving operational efficiency in the manufacturing sector will fuel the adoption of control valves in the foreseeable future.
What are Key Factors that would Contribute to Surge of Self-Monitoring Blood Glucose Devices Market in Asia-Pacific
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Owing to the soaring geriatric population and the rising prevalence of obesity and diabetes mellitus in several countries, the demand for self-monitoring blood glucose (SMBG) devices is expected to rise in the coming years. As per a report by the United Nations Department of Economic and Social Affairs (UNDESA) on the worldwide ageing population, the population of people aged 60 years and above is increasing at a huge rate. The share of the geriatric population across the globe recorded a huge increase, to 11.7% in 2013 from 9.2% in 1990, and it is predicted to increase to 21.1% by the end of 2050.
The increasing awareness about diabetes and its numerous complications, such as diabetic foot ulcer and delayed wound healing, is another major factor propelling the adoption of SMBG devices across the world. For instance, the International Diabetes Federation (IDF) conducted an event in Hyderabad, India in October, 2018, called ‘IDF Diabetes Complications and Foot Congress’ for increasing the awareness regarding diabetes and its complications and management methods amongst the people of the city.
Due to the above-mentioned factors, the revenue generated from the worldwide sales of SMBG devices is predicted to increase from $13.2 billion to $18.6 billion from 2017 to 2023. The self-monitoring blood glucose devices market is further expected to advance at a 5.9% CAGR during the forecast period (2018–2023). The most common types of such devices used throughout the world are glucose meters, strips, and lancets. Amongst these, strips are expected to register the fastest growth in sales during the forecast period, because a meter and lancet can be used for a long time, while strips are mostly thrown out after every use.
Self-monitoring blood glucose devices are extensively used for monitoring type-1 and type-2 diabetes. Of these, the utilization of these devices for the monitoring of type-2 diabetes is predicted to register faster growth in the years to come. This is mainly ascribed to the increasing incidence of type-2 diabetes amongst adults, especially on account of the fact that out of all the diabetic cases in adults, around 90% to 95% are of type-2 diabetes. People who have it either make too less insulin or are unable to utilize the hormone, leading to glucose imbalance.
Asia-Pacific (APAC) is expected to record the fastest growth in the adoption of SMBG devices during the forecast period. This is primarily attributed to the rising incidence of type-2 diabetes, soaring geriatric population, and increasing government investments on healthcare, in the region. As per the International Diabetes Federation (IDF), around 82 million adults in Southeast Asia in the age group of 20–79 years were living diabetes in 2017. Moreover, the improving healthcare infrastructure is expected to further fuel the progress of the self-monitoring blood glucose devices market in the region.
Thus, it can be certainly said that the need for SMBG devices will increase around the world in the coming years, mainly on account of the escalating incidence of diabetes, surging geriatric population, booming healthcare sector, and rising awareness about the disorder amongst the people.
Why is At-Home Drug of Abuse (DOA) Testing Market Expected to Boom in Asia-Pacific (APAC) in Future?
For more insights:- https://www.psmarketresearch.com/market-analysis/at-home-doa-testing-market
The soaring production and trade of illicit drugs across the world are some of the biggest factors fuelling the demand for at-home drug of abuse (DOA) testing kits. As per the United Nations Office on Drugs and Crime (UNODC), the total amount of opium produced in Afghanistan was found to be 9,000 metric tons in 2017, registering a rise of 87.0% from the previous year. The land area under opium poppy cultivation recorded a 63% increase from 2016 to 2017, rising from 201,000 hectares to 328,000 hectares during that period.
The other important reason behind the rising usage of at-home DOA testing is the rising utilization of illicit drugs amongst teenagers throughout the world. As per the statistics provided by Centers for Disease Control and Prevention (CDC), tobacco, marijuana, and alcohol are the most common substances abused by adolescents across the globe. The biggest factors pushing the teenagers toward substance abuse are escalating pressure from schools and parents for better performance in academics and sports, peer pressure, low self-esteem, and disturbed family life.
The biggest trend presently being witnessed in the at-home DOA testing market is the increasing addiction for bath salts, synthetic cannabinoids, and other emerging intoxicating substances amongst the people. Synthetic cannabinoids are basically artificially-made mind altering chemicals that are either sold as liquids that can be inhaled and vaporized through e-cigarettes and other devices, or sprayed on shredded and dried plant materials so that they can be smoked. The utilization of these drugs has been increasing in several countries, especially the U.S, since the last few years.
Globally, the Asia-Pacific (APAC) region is expected to observe the fastest growth in the adoption of at-home DOA testing. This is primarily attributed to the increasing consumption of illicit drugs in the region and the fact that the region is one of the largest producers and traders of various kinds of illicit substances, such as heroin, opium, methamphetamines, and amphetamine-type stimulants (ATS). Moreover, the limited awareness and availability of data regarding drug abuse in the APAC countries is boosting government efforts to popularize at-home DOA testing in the region.
Therefore, it can be concluded that due to the increasing abuse of illicit drugs and rising awareness regarding drug abuse and its harmful effects on the human body, the adoption of at-home DOA testing will surge in future.
How Do Automation Services Help in Managing Data?
For more insights:- https://www.psmarketresearch.com/market-analysis/automation-as-a-service-market
The escalating demand for virtual workforces, declining cost of automation software and services, and need for a greater ease of doing business are the key factors that will propel the automation as a service (AaaS) market growth at a CAGR of 23.9% during the forecast period (2018–2023). The market generated revenue of $2.9 billion in 2017, which is projected to become $10.9 billion in 2023. AaaS enables business organizations to form a virtual workforce that can perform multiple tasks with improved efficiency, at a low cost. With the deployment of virtual workforces, the need for human intervention is eliminated.
Moreover, the surging adoption of new-age technologies in the banking, financial services, and insurance (BFSI) sector has led to the increasing utilization of automation solutions. The BFSI sector generates a large amount of data, which is now being documented and analyzed with accuracy by utilizing automation software. Moreover, the adoption of AaaS in this sector reduces the time taken for documenting, accounting, invoicing, calculations, and other important but daily and routine functions. These advantages result in the streamlining of BFSI operations and improvements in the efficiency of the overall system.
The type segment of the automation as a service market is bifurcated into rule-based and knowledge-based. In 2017, the rule-based bifurcation held the larger market share due to the deployment of automation programming solutions to automate various tasks that do not need high cognitive abilities and are least complex. Moreover, the knowledge-based category is exhibiting rapid growth in the market owing to the better ability of knowledge-based automation solutions to deal with high volumes of unstructured data.
This is why the BFSI sector is generating a high demand for automation in compliance, credit card approval, customer service, fraud detection, invoice digitization, mortgage processing, report build-up, know your customer (KYC) integration, account closing, and ledger update processes. Additionally, the AaaS software finds wide application in the retail and consumer goods industry, as it offers better customer service and curtails lead times for products. Besides, these solutions provide better cost control, higher productivity, and enhanced process control.
In 2017, the North American automation as a service market generated the highest revenue due to the advanced service industry, high IT expenditure, presence of large enterprises, and technological developments in the region. According to P&S Intelligence, the Asia-Pacific (APAC) region is expected to showcase the fastest growth in the market in the forecast years. This can be attributed to the expanding service industry, particularly in India and China, economic development, growing digitalization, and rising adoption of novel technologies.
In recent years, key AaaS solution vendors have started to adopt measures such as geographical expansion, product launches, and mergers and acquisitions to gain a competitive edge over each other. For example, in May 2018, Micro Focus International plc introduced Vertica 9.1, a new variant of Vertica, with additional features including the separation of computer resources from data storage and simplified operations, to enable clients to curtail costs of their cloud infrastructure. Further, in July 2018, Accenture plc acquired Kogentix to strengthen the Accenture Applied Intelligence services in North America by utilizing the AI and big data services and solutions offered by Kogentix.
Thus, the advancements in technology and quick digitalization of several industries have augmented the demand for AaaS solutions globally.
Why Do Aircraft Have Titanium Blisks in Their Engines?
For more insights:- https://www.psmarketresearch.com/market-analysis/aerospace-titanium-blisk-market
The number of people traveling by air increased massively from around 310.4 million in 1970 to 4.3 billion in 2019, as per the World Bank. This is credited to the rapid expansion of airlines in terms of their fleet size and the constant entry of new airlines around the world. With the sustained surge in the number of people and amount of freight being transported by air, aircraft fleets are growing rapidly.
As per P&S Intelligence, as air travel becomes affordable for a wider spectrum of the society, the aerospace titanium blisk market size will rise from $3,988.3 million in 2017 to $4,945.4 million by 2023, at a 3.7% CAGR between 2018 and 2023. This is because the blisk is one of the primary components of a jet engine. It consists of two parts: a rotating disc and the blades attached to it. Unlike conventional alternatives, wherein the blades are detachable from the disc, a blisk is a one-piece component made via additive manufacturing, computer numerical control (CNC) milling, or welding the blades to the rotating disc permanently.
The rotor-and-blade assembly of an aircraft engine has to be strong enough to suck air at high speeds and sustain the extreme heat generated from the fuel’s combustion. Therefore, conventional materials are being replaced by titanium, which is the strongest metal on earth and even stronger so considering its weight. Thus, titanium blisks not only make the engine sturdy but also the aircraft lighter, which helps increase the lift and reduce the consumption of fuel. As per the Air Transportation Action Group (ATAG), in 2019, 915 million tonnes of CO2 were emitted by flights, which has put the spotlight on reducing the fuel consumption.
Titanium blisks are used in the engines of aircraft flying for commercial, general aviation, and military purposes, as well as in those of model and experimental aircraft. Because of the explosion in the number of air passengers, the demand for these components has been the highest for commercial aircraft. Even though the civil aviation sector is witnessing a COVID-induced slump presently, it is expected to revive rapidly in the coming years. For instance, Airbus forecasts that by 2038, 39,200 new freighter and passenger aircraft will be required.
Similarly, Boeing’s global fleet expansion forecast till 2039 stands at 43,110 aircraft additions. Hinting at similarly positive signs for the civil aviation sector post these dark times, the International Air Transport Association (IATA) says that air traffic (in terms of the number of passengers) will reach almost 52% of the pre-COVID level by the end of 2021 and 82% by the end of 2022, ultimately surpassing this number in 2023. All these statistics reflect a massive impending demand for titanium blisks from aerospace companies, majorly those based in North America and Europe.
North America is already the largest aerospace titanium blisk market as it is home to Boeing, the largest aerospace company in the world. It provides aircraft not just for commercial purposes, but to the military as well. Apart from regular airlines, a lot of chartered airlines and private jets operate in the region as it is home to many high-net-worth individuals. Apart from North America, the demand for such components is also rising sharply in Asia-Pacific (APAC) due to the establishment of domestic aerospace companies in the region.
Therefore, with the boom in the aerospace sector, the requirement for titanium blisks will increase.
Why Are Biggest LATAM Commercial Refrigeration Equipment Market Trends?
For more insights:- https://www.psmarketresearch.com/market-analysis/latin-america-commercial-refrigeration-equipment-market
Due to the growth in the food and beverage industry, because of the rising demand for ready-to-eat products and surging export of frozen foods, and recovery in the hospitality sector in Latin America (LATAM), the demand for refrigeration equipment is rising here for commercial purposes. As a result, the LATAM commercial refrigeration equipment market value, which stood at $1,766.0 million in 2017, is expected to witness a 4.5% CAGR during 2018–2023 (forecast period), to reach $2,295.4 million by 2023.
Walk-in coolers, transportation refrigeration equipment, display cases, beverage refrigeration, parts, and ice making machinery are the categories under the equipment type segment. During the historical period (2013–2017), the walk-in coolers category held the largest share due to the increasing demand for such systems in the regional food and beverage sector. The fastest growth in the LATAM commercial refrigeration equipment market will be experienced by the ice making machinery category during the forecast period owing to the rising demand for such equipment from grocery stores for poultry, meat, and fish preservation.
On the basis of end user, the market divisions are supermarkets, hypermarkets, e-commerce, hotels/restaurants & catering, convenience stores, and others, which includes hospitals, large pharmaceutical stores, educational institutions, and medical and life sciences. Among these, supermarkets dominated the market in 2017 because of the rising sales of food products through these stores, the numbers of which are themselves increasing in the region. During the forecast period, e-commerce is expected to have the highest CAGR owing to the shift in the preference of people to buy ready-to-eat and frozen foods online.
The biggest LATAM commercial refrigeration equipment market trend is natural refrigerants. With the coming into force of the F-gas regulations and signing of the Montreal Protocol, countries are shifting from gases containing fluorine to natural refrigerants, as the latter lead to less ozone depletion. As a result, the usage of propane (R290) is increasing in built-in systems and smaller pieces of equipment. Similarly, carbon dioxide (CO2) is becoming a popular refrigerant for remote cooling systems and engine rooms, especially systems with semi-hermetic compressors.
Among the strongest drivers for the LATAM commercial refrigeration equipment market is the surging demand for beverages, frozen foods, and ready-to-eat products. This is itself owed to the rising influence of the Western culture and increasing disposable income of the people of the region. In addition, the growth in the number of supermarkets and hypermarkets has impelled owners of small grocery and retail stores to upgrade themselves with modern commercial-scale refrigerators and cooling systems.
In addition, the hospitality sector is also growing in the region, as thousands of people come here every year to bask in its natural beauty, wildlife, and cultural diversity, while many come here for cost-effective medical treatments. To cater to the growing swarm of tourists, major hotel chains, such as Hilton, Marriott, and Hyatt, are opening new and large hotels here. For instance, in the third quarter of 2018, 212 hotels with a total of 34,550 rooms were under construction in Brazil, while the Colombian hotel pipeline had 63 projects with around 9,500 guestrooms.
To meet the increasing demand for food and beverage cooling systems, players in the fragmented LATAM commercial refrigeration equipment market are launching new and improved systems. The companies are aiming at systems that not only have eco-friendly refrigerants but are also energy-efficient and come with different cooling modes for different purposes. Electrolux AB, Metalfrio Solutions, Daikin Industries Ltd., Dover Corporation, Johnson Controls International PLC, United Technologies Corporation, Hussmann Corporation, Lennox International Inc., AHT Cooling Systems GmbH, and Illinois Tool Works Inc. are the major companies operating in the region.
Hence, with the rising demand for frozen and ready-to-eat foods in LATAM, the market will keep growing.
Why are Sales of Inorganic Salts Soaring in Asia-Pacific?
For more insights:- https://www.psmarketresearch.com/market-analysis/inorganic-salts-market
With the mushrooming consumption of salt, expansion of the agrochemical industry, and surging application pool of inorganic salts in the chemical producing industry, the worldwide demand for inorganic salts is soaring. Inorganic salts are heavily required in the chemicals industry, as they are needed for use as the primary feedstock in the production of synthetic soda ash and chlor alkali. Moreover, inorganic salts, such as magnesium oxides are extensively used as antacids in the pharmaceutical sector and also as ‘epsom’ salts in the cement manufacturing sector.
Additionally, inorganic salts, such as calcium salts, zinc salts and nitrates, and ammonium phosphate are heavily used as fertilizers in agricultural processes, owing to their ability to enrich soil nutrients. Furthermore, zinc oxide is an important component for the vulcanization of rubber during rubber processing. Inorganic salts are also used as catalysts in animal feed in small portions. Due to these factors, the demand for inorganic salts is surging sharply across the world, which is causing the expansion of the global inorganic salts market.
According to the estimates of the market research company, P&S Intelligence, the market will advance at a CAGR of 4.7% from 2016 to 2022. These salts are divided into various salt groups, such as carbonates, oxides, nitrates, fluorides, silicates, acetates, chlorides, hypochloride sulphides, phosphates, and halides. These salt groups can be further categorized on the basis of their attached functional group. Moreover, these salts are utilized for various purposes in several industries, depending on their type. For example, carbonates are used in the construction sector, while silicates and phosphates are used in glass manufacturing and fertilizers, respectively.
Geographically, the demand for inorganic salts was found to be the highest in the Asia-Pacific (APAC) region in the years gone by. In this region, China is currently the largest consumer of these salts, primarily because of the expansion of the chemical industry in the country. In addition, the surging construction and infrastructure development activities are also predicted to fuel the requirement for inorganic salts in the country in the coming years.
The sales of inorganic salts are also predicted to rise sharply in India over the next few years, owing to the boom in the healthcare sector. As these salts are required for producing generic drugs, the surge in the healthcare sector is positively impacting their demand in the country. Furthermore, many countries in Europe are using acetate inorganic salts for producing apparels, home furnishings, dress linings, and upholstery, which is boosting the advancement of the inorganic salts market in the continent. Similarly, the industry is also booming in the U.S. and several Middle-Eastern countries, on account of the large-scale usage of sulphates for chemical processing in these nations.
Hence, the demand for inorganic salts is certain to shoot up all over the world in the upcoming years, mainly because of the growing use of various inorganic salts in the chemical, pharmaceutical, healthcare, agriculture, and construction sectors.
Why Are Indonesian Food and Beverage Firms Adopting Coding and Marking Systems?
For more insights:- https://www.psmarketresearch.com/market-analysis/indonesia-coding-and-marking-systems-market
The International Organization of Motor Vehicle Manufacturers (OICA) states that 139,886 commercial vehicles and 551,400 cars were manufactured in Indonesia in 2020. The automobile industry uses coding and marking systems for labeling metal, plastic, rubber, and other vehicle parts to provide quality assurance to customers. Additionally, effective labeling helps automakers track the components throughout the supply chain and keep a tab on counterfeiting. Thus, the surging automobile production, owing to the growing disposable income of people, will boost the adoption of such systems in the country.
Nowadays, laser coding and marking, continuous inkjet, drop-on-demand, thermal inkjet, thermal transfer overprinting, hot-melt inkjet, valve jet, and print and apply labeling are being used in several industries of Indonesia. In the recent past, continuous inkjets gained prominence over other systems due to their low operational cost. Whereas, in the coming years, the laser coding and marking technology will be adopted at the fastest pace due to the burgeoning demand for enhanced readability of the text and 2D codes on the product packaging.
In recent years, the food and beverage industry has emerged as the leading user of these systems in Indonesia due to the implementation of stringent government regulations on traceability and product safety. Such regulations mandate the proper labeling of ingredients, nutrition facts, manufacturing and expiry dates, and manufacturer's details on the packaging of food items and drinks. This sector uses coding and marking solutions for labeling salty snacks, baked goods and cereals, beverage cans and bottles, dairy products, meat and poultry, eggs, beverages, fruits and vegetables, and pet food and animal feed.
Apart from the food and beverage, tobacco, and automotive industries, the cosmetics, chemical, healthcare, electrical and electronics, personal and homecare, building and construction, and aerospace sectors require coding and marking systems. Companies operating in these industries procure these machines from Domino Printing Sciences plc, KGK Marking Technologies Group, Matthews International Corporation, Dover Corporation, ANSER Coding Inc., Hitachi Ltd., Danaher Corporation, Linx Printing Technologies, Koenig & Bauer Coding GmbH, and PT Samartha Solusi Indonesia.
According to P&S Intelligence, Jakarta dominated the Indonesian coding and marking systems market in the preceding years. This can be ascribed to the extensive demand for packaged food and beverages, construction items, and metal products owing to the vast population of the city. Coding and marking on these goods give quality assurance to the end users. Owing to these reasons, the city will also adopt this equipment at the highest rate in the upcoming years.
Thus, the flourishing automotive industry and burgeoning tobacco demand will augment the deployment of coding and marking systems in Indonesia.
For more insights:- https://www.psmarketresearch.com/market-analysis/solar-encapsulation-market
Encapsulation can be defined as a method of improving the operational stability of PV cells
to reduce weather-related degradation and increase mechanical rigidness against
The solar PV encapsulant is widely used due to its capability to increase the
production capacity of solar modules. Presently, the rise in the prices of
solar products in Europe is due to the shift of module manufacturers from
Europe to China.
In addition, the favorable government policies, and easy low-cost availability of
skilled labor in the region is projected to result in high sales of the solar
Presently, crystalline silicon solar technology is applied in solar modules. The major
the benefit of thin-film solar cell technology is its economic cost and flexible
The major factor that boosts the demand for solar encapsulants is the rising demand
for PV modules, that convert solar energy into electrical energy through solar
cells. The economic cost and environmentally sustainable solutions have boosted
the PV modules' production capacity.
The continuous research and development activities in the solar energy sector, more
specifically, solar cell technology has enhanced the durability and efficiency
of solar cells.
It has improved the capability of third-generation PVs to overcome current
efficiency and performance limits. The rising energy requirements and
technological advancements have resulted in reduced prices of solar PV modules.
It lures investors to make heavy investments in solar PV development that
creates massive opportunities in the solar encapsulant industry.
Ethylene vinyl acetate is widely used in the material, to generate $724.5 million in
revenue. Since EVA offers massive elasticity and toughness, and strong
protection against corrosion and delamination, it is widely utilized as
encapsulating material in PV cells application.
The rooftop panel is widely installed in new constructions due to growing awareness
of renewable energy advantages. The expansion of the construction industry is
projected to boost the sales of solar encapsulants.
Types of Solar Modules
Solar panel technology has transformed and segmented into three basic types,
monocrystalline, polycrystalline, and thin-film.
Monocrystalline Solar Panels
In these types of solar panels, the single, pure silicon ingot wafers manufactured
by the Czochralski technique are utilized for developing solar cells. The pure
silicone composition of solar cells facilitates electrons to move freely and
boosts efficiency and performance.
In addition, the high efficiency of mono solar modules can utilize high-density
module technologies, such as reflecting ribbons, busbars, and back sheets for
improving the module efficiency by 20%.
Polycrystalline Solar Panels
The polycrystalline wafer cuts are used from molten blocks of silicon, with melted
silicon fragments to manufacture solar cells. They were also utilized in
polycrystalline solar panels to offer a metal flake appearance to cells.
The major companies operating in the industry are; STR Holdings Inc., Sveck, EVASA,
Hangzhou First Applied Material Co. Ltd., RenewSys India Pvt. Ltd., and Eastman
Solar encapsulants are widely adopted to increase the production capacity of solar
Modules, resulting in industry propulsion.
For more insights:- https://www.psmarketresearch.com/market-analysis/oligonucleotide-synthesis-market
A surge in research activities in synthetic biology and improvement in oligonucleotide synthesis have led to the development of advanced oligonucleotides. Recent innovations in synthesis techniques have led to the swift and cost-effective synthesis of oligomers.
In the same vein, the evolution of microarray technology has assisted the development of oligonucleotide products for therapeutic and diagnostic processes. For example, research of numerous oligonucleotides with biological ligands has led to its increased application in the diagnosis of several inherited disorders. Similarly, constant improvement in microchip-based oligonucleotide synthesis has led to the surge in throughput and decrease in cost of synthesis of oligonucleotides. Additionally, developments in technologies, such as enzymatic error correction, have led to the reduction in frequency of errors in synthesized products.
On account of the technological advancements, oligonucleotide synthesis is being increasingly used for the development of personalized medicine. The medicine offers customized medical treatment based on requirement of individuals and preference of patients that can be provided through oligonucleotide synthesis. The biotechnology sector is witnessing a surge in anti-sense ribonucleic acid (RNA) therapeutic activities that have led to its increased application in the personalized medicine. The potential application of the medicine for the treatment of rare diseases has been achieved through oligonucleotide synthesis.
Apart from this, academic research institutes, food and beverage companies, diagnostic laboratories, forensic laboratories, and pharmaceutical and biotechnology companies use oligonucleotides for various applications. Among these end users, the diagnostic laboratories use the highest volume of oligonucleotides for diagnostic purposes, on account of their increasing applications in molecular diagnosis of inherited disorders. Besides, the academic research institutes also use these products in large quantities as probes in antisense analyses, microarray, and in-situ hybridization.
Due to widening application base, market players are focusing on improving and expanding their product portfolios. For instances, Thermo Fisher Scientific Inc., in October 2017, launched Applied Biosystems Axiom Africa Array for commercial purposes. The product was introduced for medical and population genomics to support and accelerate global health research. Thermo Fisher Scientific Inc. and The Wellcome Trust Sanger Institute combined their respective expertise in informatics and human genomic analysis to co-develop Applied Biosystems Axiom Africa Array that assists in capturing genome variation in the European, African, and Asian populace.
Globally, North America utilized oligonucleotides in the largest quantities, in 2017, due to the technological advancements, numerous cases of infectious diseases, and favorable government regulations. Whereas, the Asia-Pacific (APAC) oligonucleotide synthesis market is expected to display the fastest growth in the coming years. This can be ascribed to the improving healthcare system, increasing prevalence of infectious and chronic ailments, and soaring requirement for better health outcomes in the region. Moreover, the booming population of the elderly has also led to the widescale applications of oligonucleotides in APAC.
Thus, the continuous advancements in technologies coupled with high prevalence of life-threatening diseases that demand early diagnosis and treatment will fuel the adoption of oligonucleotides in the coming years.
Why is Demand for Patient Engagement Solutions Surging in Canada?
For more insights:- https://www.psmarketresearch.com/market-analysis/north-america-patient-engagement-solutions-market
The surging adoption of mobile health solutions has pushed up the requirement for healthcare apps. Moreover, these solutions have allowed patients to easily access e-prescriptions and electronic health records (EHR) and also store health data on the cloud, which has propelled the popularity of cloud-based patient engagement solutions. As per a study carried out by the Pew Research Center, in the U.S., around 77% of the people are using smartphones and a majority of these users accessed mobile health applications in 2017.
Furthermore, the increasing smartphone penetration and the growing use of 4G and 3G spectrums are fueling the utilization of mobile platforms for providing various healthcare services. This is, in turn, driving the progress of the North American patient engagement solutions market. Besides, the surging population of geriatric people is also fueling the demand for these solutions in North America. According to the World Population Aging report 2020 published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to over 1.5 billion by 2050.
As geriatric people are highly vulnerable to chronic diseases and are generally unable to travel to healthcare facilities for seeking treatment, their growing population is positively impacting the demand for patient engagement solutions in North America. Due to these factors, the value of the North American patient engagement solutions market will rise from $3.9 billion in 2017 to $9.4 billion by 2023. Furthermore, the market will progress at a CAGR of 15.8% from 2018 to 2023, as per the estimates of P&S Intelligence, a market research company based in India.
Amongst the patient engagement hardware, software, and services, the demand for patient engagement services is predicted to rise rapidly in North America in the coming years. This will be because of the implementation of government initiatives aimed at supporting the deployment of patient engagement solutions in the region. These solutions are used by providers, payers, and individuals in the region. Out of these, providers are currently the largest users of these solutions, primarily because of the surging number of patients suffering from chronic diseases, which is leading to a sharp rise in the number of patients visiting healthcare facilities.
In North America, the demand for patient engagement solutions is predicted to surge sharply in Canada in the upcoming years. This will be because of the growing incidence of non-communicable diseases and the increasing enactment of government initiatives aimed at promoting the adoption of these solutions in order to reduce the prevalence of various illnesses in the country. Furthermore, the mushrooming usage of healthcare information technology (HIT) is also boosting the demand for patient engagement solutions in the country.
Hence, it can be said with surety that the demand for patient engagement solutions will shoot up in North America in the forthcoming years, mainly because of the rising incidence of chronic diseases, growing adoption of mobile health solutions, and booming population of geriatric people in the region.
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According to the Regional Research Reports, the Global Optical Networking and Communication Market size is estimated to be USD 26.38 billion in 2023 to USD 62.45 billion by 2033, exhibiting a CAGR of 9.0% from 2023 to 2033.
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