Elemental Analysis Market Worth $2.02 Billion By 2025

The global elemental analysis market size is expected to reach USD 2.02 billion by 2025, growing at a CAGR of 6.2%, according to a new report by Grand View Research, Inc. The market is primarily driven by amendments in the ICH (International Council for Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use) regulations that mandate use of elemental analysis for finished medical products, including pharmaceuticals.

Many manufacturers of elemental analyzers invest in R&D of new and technologically advanced products. In addition to their expenses for R&D, many key players launched new products in the market in the past 3 years. For instance, in May 2016, Agilent Technologies launched Agilent 5110 ICP-OES, which was designed to enable scientists perform fast and precise elemental analysis of pharmaceuticals and food products along with mining, industrial, and environmental analysis.

In addition, in many countries, the limit of heavy metals/trace elements is regulated by their respective pharmacopeias. For instance, United States, Japanese, and European pharmacopeias limit the amount of trace elements in finished pharmaceutical products. Furthermore, elemental analysis is a crucial step before commercial launch of a medical product in the market.

North America held the largest market share in 2016. Local presence of large number of manufacturers, regulation of limits of trace elements/heavy metals by United States Pharmacopeia (USP), and ongoing research for development of new products are major factors responsible for the largest share held by this region. However, Asia Pacific is likely to grow at the highest rate between 2017 and 2025. Rise in interest of market players to expand their business in Asia Pacific, growing awareness on safety of pharmaceuticals, and increase in expenditure by local pharmaceutical companies on elemental analyzers are factors that can be attributed for the highest growth rate of Asia Pacific region during the forecast period.

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Further Key Findings From the Report Suggest:

The inorganic elements segment held the largest revenue share in 2016 due upcoming mandates for elemental analysis in medical products
Nondestructive technologies held the largest revenue share of the market, by technology, in 2016. Retention of sample after analysis and high precision rate can be the key factors for largest share of this segment
North America dominated the global elemental analysis market due to presence of USP regulations that limit the amount of heavy metals/trace elements
Some of the key players arePerkinElmer, Inc.; Thermo Fisher Scientific, Inc.; Agilent Technologies, Inc.; Shimadzu Corporation; and Analytik Jena AG; among others

Specialty Generics Market Size Worth $174.9 Billion By 2025

The global specialty generics market is expected to reach USD 174.9 billion by 2025, according to a new report by Grand View Research, Inc. Rise in demand for low-cost generic specialty drugs is a major factor estimated to accelerate the market growth during the forecast period. Introduction of cost-effective drugs for the treatment of multiple sclerosis, cancer, and other infectious diseases is expected to showcase huge opportunities for the specialty generic drug manufacturers. According to U.S. FDA, generic drugs cost 80% to 85% lower as compared to branded drugs. One of the factors contributing to their affordable price is that they do not need to repeat expensive clinical trials, advertising, and promotional activities. Thus, low cost of generic specialty drugs is expected to accelerate the demand for these medicines.

Rise in number of off-patent specialty drugs is another major factor expected to support growth of the specialty generic drugs market. For instance, the patent for Gilenya, a blockbuster drug by Novartis, will expire in 2019. This drug led to USD 3.1 billion in sales in 2016 for Novartis, with 14% sales growth. In April 2017, Novartis failed to acquire patent extension for Gilenya till 2026 in the U.S. Federal Circuit. Such early patent expirations are expected to boost the entry of new generics.

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Further Key Findings From the Report Suggest:

In 2016, injectables was the largest revenue-grossing segment in the market due to its high usage and efficacy in treatment of severe chronic diseases
The oncology segment accounted for the largest revenue share in 2016 and is expected to maintain its dominance during the forecast period due to worldwide rise in cancer prevalence
The specialty pharmacy was the largest revenue-generating segment in end use and is estimated to maintain its dominance during the forecast period. This is due to the fact that specialty pharmacies are dedicated to distribution of highlycomplex, costly, and high-touch medicine
North America dominated the total market in 2016 primarily due to the presence of highly developed healthcare infrastructure and local presence of large number of established pharmaceutical companies
The Asia Pacific market is estimated to grow at the highest growth rate during the forecast period. Rising prevalence of chronic diseases, developing healthcare infrastructure, and escalating disposable income in Asian countries, such as China and India, are major factors that can be attributed to the growth
Some of the major players are Teva Pharmaceuticals USA, Inc.; Mylan N.V.; Sandoz International GmbH; Akorn, Inc.; Mallinckrodt; Valeant Pharmaceuticals International, Inc.; Pfizer, Inc.; Endo Pharmaceuticals, Inc.; Apotex Corp.; Sun Pharmaceutical Industries Ltd.

Insurance Telematics Market Worth $6.2 Billion By 2025

The global insurance telematics market size is expected to reach USD 6.2 billion by 2025, registering a CAGR of 22.7% from 2019 to 2025, according to a new report by Grand View Research, Inc. Insurance telematics provide accurate data about driver behavior and vehicle operations, which provides visibility and actionable data for claim processes. Additionally, the device helps in minimizing fraudulent claims and minimizes losses in this area. These factors are expected to boost the growth of the market over the forecast period. In addition, decline in the cost of supporting technologies such as wireless sensor network, GPS, and computer analytics is another factor contributing to the market growth.

Smart car (HUD) concept. Empty cockpit in vehicle and Self-Driving mode car graphic screen with flare light

Factors such as OpenStreetMap (OSM) project, plug-and-play devices, rising adoption of smartphone, and ability of smartphones to connect with on-board vehicles wirelessly using Bluetooth is further expected to propel the market growth. Advanced generation of telematics devices work effectively with fleets, business processes, and fleet managers. Therefore, it becomes easy for insurers to choose within a broad spectrum of data and feedback sources. Considering the long-term gains in the auto insurance sector, the market encourages mutual partnerships with telematics service providers that helps in eliminating the design and deployment complexities pertaining to IT and analytics services. Furthermore, logistics and support hold equal importance from the implementation perspective that offers high assurance in long-term maintenance.

Europe represents a steady market growth owing to significant presence of the telematics industry in Italy and U.K. Moreover, other regional markets in Europe such as Spain, Austria, France, Switzerland, and Germany have exhibited lucrative growth opportunities and resulted in a considerable market share owing to the growing automotive sector. The Europe market spans independent insurers as well as collaborative insurers that offer incentive programs based on varying degrees. Therefore, the value chain for insurance telematics in Europe beholds notable presence of key players with effective insurance programs to offer to their clients.

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Further key findings from the report suggest:

The software segment is anticipated to exhibit the highest CAGR from 2019 to 2025. Growth in innovations such as machine learning and IoT is driving the adoption of the software segment
The Pay-how-you-drive (PHYD) segment is anticipated to witness highest growth rate over the forecast period. PHYD insurance policies are behavior based and provide accurate estimation of risk involved in the driving, which will increase its demand in connected cars over the forecast period
The flexible and scalable infrastructure of cloud-based telematics allows the analysis of large volumes of data generated from multiple sensors installed on vehicles and for handling multiple devices
The large enterprises segment accounted for largest market share in 2018 in terms of revenue and is expected to maintain its dominance over the forecast period owing to high adoption of smartphones and mobile telematics
The commercial vehicle segment is expected to emerge as the fastest-growing end use segment over the next six years as the prominent market players are offering exclusive package of telematics services including driver behavior assessment, mobile app for fleet drivers, data feeds, and vehicle enablers for commercial units
North America held the largest share in 2018 owing to significant presence of technology providers and robust infrastructure for installing the device
The key players in the insurance telematics market include Agero Inc.; Aplicom; Intelligent Mechatronic System; Masternaut Ltd.; Meta System S.p.A; MiX Telematics Ltd.; Octo Telematics S.p.A; Sierra Wireless Inc.; TomTom Telematics BV, and TRIMBLE INC.

Digital Payments Market Worth $132.5 Billion By 2025

The global digital payments market size is expected to reach USD 132.5 billion by 2025, registering a CAGR of 17.6% from 2019 to 2025, according to a new report by Grand View Research, Inc. The ongoing technology and digital revolution led by the growing penetration of smartphones is driving the market. Furthermore, the entry of numerous non-banking institutions such as Amazon.com, Inc. and Alibaba, which are into offering payment solutions and services, is further expected to propel digital payment services market growth over the forecast period.

Various countries across the globe are making regressive changes in their regulatory framework favoring digital economy. This has led to an exponential growth of electronic monetary transactions. Various trends, such as the Internet of Things (IoT), cloud computing, tokenization, biometrics, and ubiquitous connectivity, are expected to shape the way consumers transact in future.

The advent of next-generation systems such as e-wallets and payment banks is expected to fuel digital payment systems market growth. In addition, various non-banking institutions are focusing on leveraging and innovating technology to simplify user experience and provide them with better financial and banking services. Technological advancements are allowing monetary transaction solution providers to offer personalized experiences that are more customer-centric.

The market is expected to witness significant growth owing to the growth of the e-commerce companies across the globe. Instead of selecting conventional offline retail, customers nowadays are more inclined towards online shopping. This, in turn, is expected to propel the market over the forecast period.

The growth of the North American regional market can be attributed to the existence of a large number of solution providers in the region as well as expansion of the mobile commerce industry. Proliferation of digitalization, coupled with supportive government initiatives in developing countries, is propelling the Asia Pacific market.

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Further key findings from the report suggest:

Increasing customer demand for immediacy of monetary transactions is expected to fuel the monetary transactions processing segment over the forecast period
Point of sales terminals are widely used by various end-use industries to process card payments. It offers customers an easy and convenient way to pay their bills
Processing electronic monetary transactions in the cloud are more secure than on-premise methods. Also, cloud processing quickly identifies fraudulent transactions and avoids data theft
Electronic payments can deliver a substantial uplift to an SME’s growth and profitability by delivering better customer experience, transaction cost reduction, record retention, and competitive advantage by enabling access to the overseas digital payment solutions market
Various banks and financial consulting firms are focusing on transforming the existing operations of their banking clients to the digital ecosystem, thereby driving the adoption of digital monetary transaction solutions in the BFSI industry vertical
Asia Pacific is anticipated to register the highest growth rate owing to increasing demand for electronic monetary transaction solutions in emerging countries such as China and India
Key market players include Adyen N.V.; ACI Worldwide Inc.; PayPal Holdings Inc.; Novetti Group Limited; Global Payments Inc.; Wirecard AG; and Total System Services, Inc.

5G Services Market Size Worth $414.50 Billion By 2027

The global 5G services market size is estimated to reach USD 414.50 billion by 2027, registering a CAGR of 43.9% from 2021 to 2027, according to a new study by Grand View Research, Inc. Rapidly rising demand for ultra-reliable and low latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period. The potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to propel the market growth from 2021 to 2027.

The 5G wireless technology is expected to completely transform the transportation and logistics industry by providing seamless vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity. As such, the need to ensure a strong, seamless, and uninterrupted connectivity with autonomous vehicles is estimated to drive the adoption of 5G services. Furthermore, robust deployment of 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including smart homes, smart cities, and industry 4.0. Hence, rising need for high bandwidth in order to provide reliable communication to IoT devices is expected to elevate the overall market growth over the forecast period.

In some countries such as U.S., China, and Japan, the trend of monitoring energy systems of buildings remotely is rising gradually. This is expected to open new opportunities for rolling out 5G services over the forecast period. As such, growing need for remote asset monitoring, drone control and coordination, and smart grid control is anticipated to fuel the growth of the ultra-reliable low-latency communications (uRLLC) segment over the forecast period.

Key market players such as AT&T Inc.; China Telecommunications Corporation; and Verizon Communications are investing aggressively in rolling out 5G infrastructure to provide low-latency services for faster machine-to-machine (M2M) communication. However, these market players are expected to deliberate before making investments owing to the high 5G spectrum prices. Stringent governments’ regulations and policies pertaining to the 5G wireless technology are also expected to hinder the market growth. Moreover, due to the outbreak of the COVID-19 pandemic, the governments across key countries, such as U.S., Spain, U.K., and France, have postponed the auction for 5G spectrums. This is expected to hamper the market growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/5g-services-market

Further key findings from the report suggest:

In North America, U.S. is anticipated to reach nearly USD 145 billion by 2027 owing to rising demand for higher data speeds for several end-use applications, including M2M communications, energy and utility management, and smart mobility management
By communication type, the enhanced mobile broadband (eMBB) segment is anticipated to hold the largest market share by 2027 owing to the increased emphasis by key market players on rolling out high-speed and low-latency data networks for residential and commercial applications, such as video conferencing, virtual meeting, and VR/AR gaming
Based on vertical, the manufacturing segment is expected to register the fastest CAGR of 49.0% over the forecast period owing to rapidly increasing need for seamless connectivity to drive industrial devices, including robots, and actuators
Market incumbents are focusing on mergers and acquisitions for delivering 5G services in order to strengthen their market presence and expand their product portfolios.

Crime Risk Report Market Worth $15.34 Billion By 2025

The global crime risk report market size is expected to reach USD 15.34 billion by 2025, registering a CAGR of 21.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Growing threats from internal and external terrorist activities coupled with rising number of financial frauds, such as fraudulent investment scams, Ponzi schemes, illegal online lotteries, and money laundering activities, are expected to drive the market over the forecast period. Crime risk analytics solutions are designed to collect crime data from law enforcement agencies and statistically predict the crime rates for every individual type of crime. The need for such solutions is growing due to increasing crime cases across the world.

Increasing personal crimes, such as homicides and kidnapping, are forcing individuals to consult crime risk report companies. Moreover, property crimes, such as carjacking, burglaries, shop robberies, and gun point robberies, make individuals and organizations take pre-emptive measures. These factors are expected to drive the growth of this market over the forecast period. Quick adoption of new and innovative technologies, such as IoT and Big Data, are increasing the complexities and security challenges regarding networks and systems. This factor is also expected to contribute to the market growth in the years to come.

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https://www.grandviewresearch.com/industry-analysis/crime-risk-report-market

Further key findings from the study suggest:

The financial & cybercrime segment is anticipated to register the highest CAGR from 2019 to 2025 as the growing monetary losses associated with financial frauds and cybercrimes prompt law enforcement agencies to curb such crimes
Asia Pacific is expected to be the fastest-growing regional market recording a CAGR of 23.9% from 2019 to 2025
On the other hand, North America is projected to be the largest crime risk report market during the forecast years
Some of key companies in the market include CAP Index, Inc.; CCL Ltd.; CORELOGIC; HackSurfer, Intelligent Direct, Inc.; Location, Inc.; Pinkerton Consulting & Investigations, Inc.; Silva Consultants; and Verisk Analytics, Inc.

Forensic Technology Market Worth $40.4 Billion By 2025

The global forensic technology market size is expected to reach USD 40.4 billion by 2025, according to a new report by Grand View Research, Inc. Innovations in forensic science lead to the development of advanced techniques for solving crimes and increasing the efficiency of DNA testing. Government initiatives for achieving progress in research in forensic science, which is critical for public safety, is widening the scope for forensic technology market growth. For instance, the National Institute of Justice (NIJ) entered into a partnership with the National Institute of Standards and Technology (NIST), and National Science Foundation (NSF) to develop new techniques.

These organizations have also jointly initiated the Industry/University Cooperative Research Centers Program that aids in industry and academic collaborations for efficient R&D in forensic science. One of the major contributions by this program includes the development of practices for preservation and handling of DNA &other biological evidence. These agenda of this program is to enhance the interoperability of national as well as regional automated fingerprinting identification systems, limit investigator bias, and develop standards for efficient analysis in criminal cases.

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Further Key Findings From the Report Suggest:

Capillary electrophoresis accounted for the largest part of the type segment in 2016. This can be attributed to high penetration in various applications such as toxicology studies, illicit drug analysis, and ballistics
In the services segment, chemical analysis captured the dominant share in 2016. This is a result of increasing adoption of this technique in fire debris analysis, serology, bloodstain pattern analysis, and fingerprinting
In the application segment, judicial/law enforcement held the largest part in 2016 owing to the growing number of government initiatives intended toward clearing backlogs of criminal cases that require concrete evidence
Laboratory technology held a substantial share of the location segment. This is a consequence of consistent usage due to its ability to analyze a large number of samples
North America held the largest share of the market owing to the increase in the number of supportive government initiatives aimed toward promoting the usage of forensic technologies
Asia Pacific is anticipated to witness lucrative CAGR during the forecast period. The lucrative growth rate can be attributed to the development of advanced infrastructure for testing facilities
High competition has been observed as a result of key players adopting strategies that include new product development and strategic collaborations & agreements to gain competitive advantage

mHealth Apps Market Size Worth $236.0 Billion By 2026

The global mHealth apps market size is expected to reach USD 236.0 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 44.7% during the forecast period. The market is majorly driven by increasing adoption of advanced technologies in healthcare facilities and the need to reduce long waiting periods to access healthcare facilities from specialists. Availability of mobile applications for users is witnessing a rapid growth, especially healthcare apps that assist consumers in self-management of disease, wellness, and chronic conditions. This increased role of patients coupled with the rising importance in staying updated and informed about their own healthcare decisions, contributing to the rise in adoption of mHealth apps globally.

Healthcare industry has been transitioning towards a value-based care model with mHealth becoming a widespread trend owing to the advent of technologies such as remote monitoring, electronic medical record, and other communication platforms. The increasing prevalence of disorders, such as diabetes, hypertension, cancer, and obesity along with the growing awareness about wellness and other preventive measures diseases among patients is expected to boost the mHealth market growth.

mHealth leverages from the 4Ps: personalized, predictive, participatory, and preventive measures for care delivery to provide optimal care to users. Moreover, rising penetration of smartphones, and other electronic devices, especially, in low- and middle-income countries and increasing focus on the use of mobile technology to manage care delivery is anticipated to benefit the market.

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Further key findings from the report suggest:

Rapid growth in chronic diseases along with the rise in the number of app users is accountable for the mHealth apps market growth
The types of mHealth apps include fitness, lifestyle management, nutrition and diet, women’s health, medication adherence, healthcare providers, and disease management. Of these, the fitness category accounted for the majority of segment share in 2018
mHealth app vendors are focusing their attention on women’s health, diet, and medication reminders. According to Wired, a mobile advertising and analytics platform, women are more inclined toward tracking their health than men
Physicians are increasingly recommending the use of mHealth apps to their patients, which is likely to increase the adoption rate of mHealth apps
North America led the mhealth applications market in 2018 in terms of revenue share pertaining to the technological advancements and presence of major players in the region
Some of the key players are Johnson & Johnson; Abbott Laboratories; AstraZeneca; Bristol-Myers Squibb Company; F. Hoffmann-La Roche Ltd; Novartis AG; GlaxoSmithKline plc; Merck and Co., Inc.; Pfizer; and Sanofi

qPCR & dPCR Market Size Worth $4.33 Billion By 2026

The global real-time pcr and digital pcr market size is anticipated to reach USD 4.33 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.5% during the forecast period. Growing demand for Rapid Diagnostics Tests (RTDs) is one of the high impact rendering drivers for this market. The demand for RDTs is likely to witness strong growth as local governments across the globe seek to incorporate these tests to improve the diagnosis and treatment of infectious diseases.

The emergence of RDTs as an important tool in the management of infectious diseases owing to the ability to provide rapid results in remote areas with limited healthcare infrastructure is likely to fuel the growth of the Polymerase Chain Reaction (PCR) systems which are used extensively to conduct these diagnostic procedures.

In addition, high prevalence of infectious diseases is one of the major factors contributing to the market growth. According to the estimates by the World Health Organization (WHO), lower respiratory infections, diarrheal diseases, and tuberculosis were ranked among the top ten causes of deaths worldwide in 2016. New cases of other infectious diseases, such as HIV/AIDS and malaria among others continue to witness sharp increase in developing countries which is expected to substantially increase the patient population, driving the need for better diagnosis options.

Furthermore, inorganic growth strategies such as mergers and acquisitions employed by major PCR manufacturers to broaden their product portfolio and to develop novel qPCR and dPCR products is another factor expected to propel the market during the forecast period. For instance, in January 2017, RainDance Technologies, Inc. was acquired by Bio-Rad Laboratories, Inc. which is expected to strengthen the company’s position in the field of droplet digital PCR and next generation sequencing.

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Further key findings from the study suggest:

qPCR held the largest market share in 2018 due to the accuracy and wide applications of the technology in quantification of gene expression, pathogen detection and microRNA analysis
Digital PCR is estimated to be the fastest growing segment due to precise quantification of target sequences
Consumables and reagents led the product segment and is likely register the fastest CAGR of 8.9% over the forecast period due strong uptake in the use of PCR kits in diagnostic tests
Research application was the largest segment in terms of value in 2018, due to wide-spread use in research areas, such as stem cells, microbiology, and agriculture
Clinical application is expected to witness robust growth over the forecast period due to the adoption of automated processes
North America held the largest market share in terms of revenue in 2018 due launch of new PCR products along with rising demand for rapid diagnostic tests
Asia Pacific is projected to register comparatively strong growth during the forecast period owing to burgeoning patient population as a result of prevalence of infectious diseases
Prominent players in the qPCR and dPCR market include Bio-Rad Laboratories; Thermo Fisher Scientific Inc.; Qiagen N.V.; Abbott Laboratories, Inc.; and others

Poultry Diagnostics Market Worth $771.4 Million By 2025

The global poultry diagnostics market is expected to reach USD 771.4 million by 2025, according to a new report by Grand View Research, Inc. Supportive government initiatives and technological advancements in the poultry sectors is anticipated to drive the growth of market over the forecast period.

Disease outbreaks, technological advancements, and supportive government initiatives are the key drivers for the substantial growth of poultry diagnostic market. With the outbreak of catastrophic diseases and erosive diseases such as avian influenza, Newcastle disease, and other respiratory infections the farmers are now going for a preventive diagnosis.

These infections of flocks are affecting the global trade of layers, broilers, turkeys, and water fowl. As a result, there have been continuous efforts to increase the awareness about these diseases amongst poultry farmers.

Rising number of supportive government initiatives such as, the OIE International Standards, a part of WTO framework, which issues standards to improve animal health and promote international animal products trade are anticipated to increase the demand for the products.

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Further key findings from the report suggest:

The ELISA tests contributed with more than 57.0% share in 2016. This can be attributed to their high sensitivity, specificity, accuracy and cost-efficinecy.
Avian influenza led this industry with more than 24.0% share in 2016. Frequent outbreaks of influenza (bird flu) in Southeast Asian and African countries contributed to the substantial share.
North America led global poultry diagnostic market with more than 35.0% share in 2016. This can be attributed to their advanced infrastructure pertaining to animal health, extensive distribution network, presence of multinational players and increasing awareness amongst farmers governed the growth of this segment.
Zoetis, QIAGEN, IDvet, Biocheck Smart Veterinary Diagnostics, Bioneer Corporation, Thermo Fisher Scientific Inc., BioinGentech Biotechnology company, MEGACOR Diagnostik GmbH, IDEXX Laboratories, Inc., and AffiniTech, LTD. are the key players in poultry diagnostics market.
New product developments, collaborations, regional expansion, and mergers are key strategic initiatives undertaken.