Leisure Boat Market Size Worth $51.37 Billion By 2025

The global leisure boat market size is anticipated to reach USD 51.37 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 4.3% during the forecast period.

The tourism industry has been changing drastically in recent times with increasing popularity of marine and coastal tourism activities. The world economy is experiencing a healthy growth and markets such as U.S. are rapidly recovering from the 2008 economic crisis, which, in turn, has resulted in a rise in consumer disposable income. There is also an increase in number of High Net Worth Individuals (HNWIs) across the globe, which has resulted in a surge in expenditure on leisure activities, thus leading to a boost in demand for recreational boats.

Increasing number of boat shows and water sporting events are attracting a large number of boaters. Top manufacturers are sponsoring boat shows and events, which, in turn, is enhancing the popularity of leisure boats. A large number of people are participating in luxury boating activities, especially in European and North American countries, which is expected to further boost the market in these regions.

A number of technological modifications are taking place in boat building, such as adoption of IoT technology that enables appliances, physical structures, vehicles, smartphones, wearable devices, and heavy equipment to be connected to each other, while facilitating an exchange of information through a single network. A connected boat provides enhanced safety, security, and accuracy, while also improving efficiency by digitalizing and optimizing various functions. Additionally, use of new boating building materials and increase in R&D expenditure by boat manufacturers are driving the growth of the leisure boat market.

Measures taken by various governments to promote tourism activities in their countries are further boosting the market. Countries with rich natural resources such as vast coastlines and large inland water bodies are undertaking initiatives to promote recreational boating activities. U.S. has a rather long coastline, in addition to highly developed infrastructure and a large population that participates in leisure boating activities. This opens up new growth opportunities for the leisure boat market. The French government is encouraging yacht manufactures by providing them support in various forms, thus enabling companies to invest in expanding their yacht maintenance and construction capacities.

Growing popularity of marine tourism, rise in number of government initiatives, and increasing sales of recreational boats in developing economies such as India and China are expected to drive demand over the forecast period. Measures taken by the Chinese government for development of yachting as a recreational activity as well as development of marinas in coastal regions have boosted the growth of the Chinese leisure boat market.

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https://www.grandviewresearch.com/industry-analysis/global-leisure-boat-market

Further key findings from the report suggest:

Leisure boats are projected to witness a strong demand owing to changing economic situations and rise in consumer disposable income across the world
Sports yachts are expected to record a high demand in developed countries owing to active participation of people in recreational boating activities and marine sporting events
Implementation of IoT technologies, GPS mapping, and smart sensors in boats increases safety and security of the boat, which, in turn, is expected to increase demand for recreational boats over the forecast period
Boat manufacturers are focusing on promotional activities and boating events to attract more buyers in many developed as well as developing countries
In 2016, North America dominated the global market in terms of revenue and was valued at USD 16.60 billion
Key players in the market include Avon Marine; Azimut Benetti S.p.A.; Baja Marine; Bavaria Yachtbau GmbH; Bombardier Recreational Products (BRP) Inc.; Brunswick Corporation; and Chaparral Boats, Inc.

Gynecological Devices Market Size Worth $17.55 Billion By 2026

The global gynecological devices market size is projected to reach USD billion 17.55 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 8.8% during the forecast period. Growing female population, increasing awareness levels pertaining to benefits of early diagnosis, and available treatments are anticipated to stoke the growth of the market.

Rising prevalence of sexually transmitted diseases is translating into greater demand for gynecological treatments. Prevalence of these diseases was observed to be higher in people aged between 15-24 years. For instance, according to the Centre for Disease Control and Prevention (CDC), around 45.0% of the patients in the U.S. with Chlamydia were aged between 20 and 24 years.

Moreover, rising adoption of gynecological procedures is estimated to boost usage rates over the forecast period. The percent of C-section deliveries was 32.2% as compared to number of vaginal deliveries. Upswing in the number of these procedures owing to growing population, increasing awareness, and rising disposable income is expected to drive the gynecological devices market.

Early disease detection is imperative in devising treatment schedules. Pertinent government and regulatory agencies in congruency with aforementioned factors are now focusing majorly on improving patient awareness levels.

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https://www.grandviewresearch.com/industry-analysis/gynecological-device-market

Further Key Findings from the Report Suggest:

Surgical devices accounted for the largest market share in 2018. High cost of surgical devices and recurring purchase of disposable products are contributing to the growth of the segment
Endoscopy devices were the leading revenue contributing sub-segment in 2018. Availability of user-friendly, portable, and affordable products is likely to escalate the growth of the segment during the forecast period
North America was the largest regional market in 2018. Presence of a well-established healthcare infrastructure, high adoption rate of advanced technology, and large number of skilled professionals are supplementing the growth of the market in the region
Asia Pacific is poised to register a significant CAGR during the forecast period. Rapid surge in procedure volumes, as a result of booming medical tourism industry, has been augmenting the regional market
Some of the key players in the gynecological devices market are Ethicon, Inc.; Karl StorzGmbH & Co. KG; Hologic, Inc.; Boston Scientific Corporation; Stryker Corporation; Olympus Corporation; Richard Wolf GmbH; Medtronic Plc; and CooperSurgical, Inc.

Fluoroscopy Equipment Market Size Worth $4.74 Billion By 2025

The global fluoroscopy systems/equipment market size is expected to reach USD 4.74 billion by 2025, according to a new report by Grand View Research, Inc. The unprecedented growth is believed to be a consequence of rising patient preference for minimally invasive surgeries. These devices facilitate early diagnosis and reduce treatment duration in majority of surgical procedures.

The growing demand is also a consequence of improved cost-efficiency, safety, efficacy, rapid recovery, and reduced hospital stay. These factors anticipated to fuel the demand for fluoroscopy equipment over the forecast period. Other advantages include fewer incision wounds and postsurgical complications that lead to higher patient satisfaction.

The market is also driven by technological advancements such as incorporation of radiation dose monitoring tools for optimized radiation in fluoroscopy equipment. Other advancements include robotically controlled C-arms, integrated navigation tools, and image guidance software. These advancements have led to enhanced image guidance during interventional, ablation, and biopsy procedures as well as improved optimization of working procedures.

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http://www.grandviewresearch.com/industry-analysis/fluoroscopy-market

Further Key Findings From the Report Suggest:

C-arms segment is predicted to witness exponential growth owing to high cost-efficiency and wide applicability in different fields such as traumatology, orthopedics, vascular surgery for intraoperative imaging, and others
Cardiovascular emerged as the largest application segment in 2016 as a consequence of high prevalence of cardiovascular diseases, raising the clinical urgency for adoption of fluoroscopy equipment
Hospitals held the largest share in end-use segment due to high patient volume, consistent readmissions, and easy availability of high-end equipment
North America accounted for the largest share, which can be attributed to the extensive R&D activities that are likely to provide platform for growth through consistent approvals of new product
The fluoroscopy equipment market in Asia Pacific is projected to witness substantial growth over the next decade, due to growing awareness pertaining to availability and benefits of these devices, further triggering significant penetration
GE Healthcare, Philips Healthcare, and Siemens Healthineers together accounted for a dominant share in the global fluoroscopy equipment market in 2016
The key companies are aggressively undertaking collaborative strategies, new and advanced product development activities, and mergers & acquisitions leading to significant growth
In May 2015, Philips Healthcare launched DuoDiagnost, an integrated radiography and fluoroscopy system. This equipment was launched to yield higher price-performance ratio in different applications and achieve a greater return on investment

Nuclear Medicine Market Size Worth $12.6 Billion By 2027

The global nuclear medicine market size is expected to reach USD 12.6 billion by 2027, expanding at a CAGR of 9.5%, according to a new report by Grand View Research, Inc. Research and development of advanced technologies by the key players for diagnosis and treatment of diseases is expected to drive the radiopharmaceuticals market.

For instance, in May 2019, GE Healthcare with Indi Molecular, Inc., collaborated to develop Protein Catalyzed Capture (PCC) technology and immune cell-targeted PET tracer candidates. This diagnostic tool will help in better understanding of patient’s immune cell and in early treatment response.

Rising prevalence of cancer and cardiovascular diseases is one of the major factors responsible for market growth. Moreover, high prevalence of cancer in emerging Asian countries is creating huge demand for radiopharmaceuticals in diagnosing the disease. For instance, according to the GLOBOCAN, in 2018, approximately 48.4% of cancer cases were registered in Asia.

In addition, presence of standard guidelines prepared by regulatory authorities for radiopharmaceuticals is expected to accelerate market growth. For instance, in August 2019, FDA published a guideline for non-clinical studies and product labelling that are not covered by FDA and ICH guidelines for radiopharmaceuticals used in the treatment of cancer.

Manufacturers are focusing on development of innovative technologies to produce medical isotopes that can fulfill the increasing demand for nuclear medicines. For instance, in October 2018, with the support of ASML, The Institute For Radioelements (IRE) developed and built an electron beamline to manufacture medical isotope molybdenum 99 (Mo-99). Due to this innovative technology, the process of production is waste-free and non-fission.

In addition, research centers and hospitals are launching novel nuclear medicine techniques to treat various diseases at an affordable cost as compared to the existing treatments. For instance, in August 2017, the Kovai Medical Centre and Hospital (KMCH) had launched Rhenium 188 Lipiodol to treat liver cancer and other diseases such as metastatic bone pain, rheumatoid arthritis, and hemophilic bleeding joints at low cost with lesser hospitalization.

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https://www.grandviewresearch.com/industry-analysis/nuclear-medicines-market

Further key findings from the study suggest:

In 2019, the SPECT segment had dominated the market owing to integration of SPECT with X-ray/CT that has gained more acceptance and proved to be useful in many clinical situations due to its high accuracy
PET diagnostic nuclear medicine is expected to witness the fastest growth over the forecast period owing to the increasing adoption of high resolution PET scanners
In case of the therapeutic segment, brachytherapy is anticipated to be the fastest growing segment due to the higher radiation protection as compared to other treatment options
The oncology application segment dominated the nuclear medicine market in 2019 owing to the presence of pipeline drugs and high prevalence of cancer
The market in Asia Pacific is projected to witness the fastest growth during the forecast period owing to the high unmet needs and development of radiopharmaceuticals for diagnosis and treatment of various diseases
Key players in the market include companies such as Eckert and Ziegler Group Nordion, Inc.; Bracco Imaging S.p.A.; and GE Healthcare as well as government organizations such as Department of Atomic Energy and Australian Nuclear Science and Technology Organization (ANSTO).

Pulse Oximeters Market Size Worth $3.2 Billion By 2027

The global pulse oximeters market size is expected to reach USD 3.2 billion by 2027, expanding at a CAGR of 6.4%, based on a new report by Grand View Research, Inc. Technological advancement in design and development of pulse oximeter is expected to boost market growth during the forecast period. Market players are introducing devices that are more compact, portable, ease to use, accurate, and efficient. For instance, in May 2019, Masimo received FDA clearance for its first tetherless SET pulse oximeter, Radius PPG.

Oxygen saturation monitors are conventionally used in pre and postsurgical settings. They are used during surgeries when patients are anesthetized. Increase in number of surgeries being performed and focus on patient safety are among the key factors responsible for increased use of the medical device during most procedures. These devices are purchased once and require servicing, without the need for frequent replacement. The use of oxygen saturation monitors in newborn screening can boost the demand and procurement of these devices by hospitals for maternity and pediatric care divisions.

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https://www.grandviewresearch.com/industry-analysis/pulse-oximeter-market

Further key findings from the study suggest:

The sale of fingertip pulse oximeters has witnessed a significant spike since the first week of March 2020 due to COVID-19 pandemic
Handheld pulse oximeters are expected to be in high demand during the COVID-19 pandemic, as these devices are more accurate and come with probes that can be used for individual patients to limit spread of the virus
There is an upward trend in the use of oxygen saturation monitors in homecare settings due to expansion of the homecare market. Hospices and nursing care centers are procuring the medical device to provide better care to their patients
North America held the largest share in the market in 2019. Demand for oxygen saturation monitors is increasing in U.S. and Canada due to high prevalence of Congenital Heart Diseases (CHD) in infants
In Asia Pacific, the market is anticipated to witness significant growth during the forecast period. In countries such as Australia and New Zealand, oxygen saturation monitors are part of the standard patient observation procedures in hospitals and clinics. The device plays a vital role in monitoring and treatment of respiratory diseases in newborns and adults, as it provides independent information for a more comprehensive respiratory assessment
The industry is also witnessing mergers, acquisitions, and licensing agreements. For instance in April 2019, Philips Respironics moved the rights for direct sales of pulse oximeter in homecare market to Nonin Medical, an OEM manufacturer.

Flow Sensor Market Size Worth $7.48 Billion By 2020

The global flow sensors market size is expected to reach USD 7.48 billion by 2020, according to a new study by Grand View Research, Inc. Increasing quest for new energy sources along with renewable energy development is expected to drive the market over the forecast period. Regulations governing the industry have been favorable in stimulating market growth for different types of sensor. For example, standards laid by the EPA for power plants have increased the demand for gas flow sensor which are effective in monitoring gas leakage. Various initiatives are taken into consideration for energy conservation and efficiency over the years worldwide. For instance, Omron Corporation offers high performance MEMS flow sensor to optimize air conditioning energy efficiency.

Further, the industry has witnessed high demand from numerous end-use industries. For example, in the automotive sector, active and passive safety sensor have witness tremendous growth due to the growing need for accident mitigation systems. Emission of hazardous gases has led to the framing of legislations for emission control and resulted in the need for monitoring the concentration of exhaust gases.

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http://www.grandviewresearch.com/industry-analysis/flow-sensor-market

Further key findings from the study suggest:

The flow sensor market is expected to witness considerable growth over the forecast period. The need for new energy sources, including oil and gas exploration, and the growing significance of developing of renewable energy sources are expected to be key market drivers.
The process industries segment is poised for significant growth over the next few years, and accounted for over 25% of the overall market in 2013. Growing number projects and the establishment of new process plants along with reinvestments in plant modernization, renovation and capacity expansion are expected to fuel the market demand.
North America emerged as the dominant regional market in 2013 accounting for more than 30% of the overall market in the same year. Surging demand owing to rebound in automotive and machinery production along with regulatory mandates are expected to spur the regional market growth over the next six years.
Key industry players include Emerson Electric Company, First Sensor AG, Gems Sensors & Controls, Keyence Corporation, Omron Corporation etc. Manufacturers focus on investing in R&D activities as accuracy and reliability are major product selection criteria. Further, industry participants emphasize on product differentiation in order to avoid price competition.

Marine Propulsion Engines Market Is Expected to Reach USD 10.95 Billion by 2020

The Global Marine Propulsion Engines Market is expected to reach USD 10.95 billion by 2020, according to a new study by Grand View Research, Inc. Significant modernization in marine propulsion as a direct consequence of increased demand for operationally dependable and financially efficient ships is expected to drive the marine propulsion engines market. The shipping industry has started to focus more on reducing fossil fuel consumption by developing electric motors which also help increase energy efficiency.

The market is expected to be hindered by regulations of the International Convention for the Prevention of Pollution from Ships (MARPOL), which apply principally to the protection of the marine environment and prevention of contamination by oil, chemical spills, sewage, marine species, and air pollution by engine exhaust gases. With the advancement in technology and increasing awareness pertaining to environmental conservation, the development of propulsion systems that run on alternate fuels and with minimal emissions has garnered special importance.

Although wind and solar energy have gained prominence as auxiliary propulsion sources in the marine propulsion engines market, they are inadequate to suffice the power requirements for primary propulsion purposes.

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http://www.grandviewresearch.com/industry-analysis/marine-propulsion-engines-market

Further key findings from the study suggest:

High reliability and easy operability have resulted in diesel engines being the most extensively used to meet the primary as well as auxiliary ship propulsion needs in the marine industry. The presence of well-established spare parts and repair networks globally coupled with the availability of trained engineers and established training facilities has further driven the diesel marine propulsion engine demand.
The depleting conventional and shale gas reserves have led to an increase in the demand for liquefied natural gas (LNG) as a marine fuel, which involves dual fuel diesel (DFD) engines as prime movers. Wind energy and solar energy have gained prominence as auxiliary power generating sources as they do not emit harmful pollutants. Although steam turbine systems were traditionally used as prime movers, they have been increasingly substituted by diesel and dual-fuel diesel (DFD) engines. Steam marine propulsion engines are still used in niche applications such as coal carriers and LNG carriers.
Asia Pacific accounted for a substantial share of the overall marine propulsion engine market revenue in 2013, which can be attributed to significant investments by countries in the Far East such as China and South Korea. North America is among the highest adopters of LNG as a propulsion medium.
Leading marine propulsion engine manufacturers such as Wärtsilä, Rolls-Royce, MAN Diesel, Caterpillar, and Cummins adopt global multi-sourcing strategies to explore alternative sources of supply. Marine propulsion engines manufacturers have dedicated professional sales staff having expertise in the company’s entire product lines for identifying specific and tailored solutions. The marine propulsion engines market is characterized by frequent mergers and acquisitions in a bid to achieve a competitive advantage.

Control Valves Market Size Worth $11.85 Billion By 2025

The global control valves market size is expected to reach USD 11.85 billion by 2025, according to a study conducted by Grand View Research, Inc., rising at a CAGR of 6.50% during the forecast period. Surging demand from industrial sectors such as energy & power, water & wastewater treatment, and oil & gas industry and growing adoption of industrial automation propelling the smart control valves market are fueling the demand for control valves. Additionally, rising demand for control valves in the pharmaceutical and food & beverages industries is expected to drive the market.

Increasing adoption of control valves is rising continuously owing to the benefits they offer in controlling temperature and pressure throughout the downstream, midstream, and upstream activities. Therefore, growing oil & gas exploration activities are triggering the demand for control valves. Control valves offer various benefits of installing modernized and sophisticated fluid handling systems. In the pharmaceutical industry, there is a rising demand for fluid handling systems, owing to safety procedures in order to manufacture a hygienic and safe product.

These sophisticated fluid handling mechanisms are helpful in speeding up the manufacturing process, thus ensuring optimal performance. Moreover, the food & beverages industry utilizes control valves to speed up the manufacturing process and ensure the hygiene of end products such as packaged food. Surging demand for packaged food is augmenting the control valves market growth. This is due to the application of flow control devices with suitable control valve design and technology for improved quality of end product.

Asia Pacific is expected to dominate the market owing to increasing demand from the energy & power and water & wastewater industries. These industries are investing heavily to automate their flow-control processes, so as to increase production efficiency and simultaneously reduce error ratio. Furthermore, expanding the production of oil sands and shale gas in North America and rising oil & gas exploration activities in regions such as Middle East and Africa, and Asia Pacific are accelerating the demand for control valves over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/control-valves-market

Further key findings from the study suggest:

The actuator segment is expected to dominate the control valves market throughout the forecast period owing to significant cost as compared to valve body and other components
The market for control valves with size ranging from 1” to 6” is expected to dominate throughout the forecast period owing to its wide demand across the food & beverages, pharmaceutical, energy & power, and chemical industries.
Asia Pacific is expected to be the most prominent region over the forecast period owing to increasing demand from industries such as oil & gas, water & wastewater, and energy & power in emerging economies such as China and India.
Prominent industry participants include Emerson Electric Co., Flowserve Corporation, IMI plc, Schlumberger Limited, and AVK Holding A/S.

Flexible Electronics Market Worth $87.21 Billion By 2024

The global flexible electronics market was USD 20,850.0 million in 2015, which is estimated to reach USD 87,210.0 million by 2024, according to a new report by Grand View Research, Inc. Escalating demand for compact and light-weight electronic devices is anticipated to fuel growth over the forecast period. Flexible batteries, displays, memories are a few products realized with the adoption of this technology. The technology provides ample opportunities in the area of smart textiles, which is the future of wearables. Government support in the form of funding that lends a helping hand to several research projects in this field is also anticipated to impact the industry growth positively.

Healthy demand for smart glasses, e-books, smartphones, smartwatches, and e-papers is expected to catapult market growth over the next eight years. The technology facilitates electronic systems to be stretched, rolled, and flexed, minimizing design issues associated while developing compact, portable and miniature devices. The style and functionality of wearable devices are anticipated to witness a transition over the next eight years with companies such as Samsung, Apple, Nike, and Google investing heavily in this segment, thereby providing avenues for discovering novel applications incorporating this technology.

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http://www.grandviewresearch.com/industry-analysis/flexible-electronics-market

Further key findings from the report suggest:

The consumer electronics segment accounted for over 55% of the overall revenue in 2015. The year 2014 witnessed the onset of new curved televisions, smartphones, and other electronic devices; a trend that gained traction in 2015, and is expected to impact the flexible electronics demand favorably from 2016 to 2024 owing to high penetration in the wearable’s segment
The display segment is projected to grow at a CAGR exceeding 16% over the forecast period. It is primarily attributed to the ability of these products to curve, roll, flex, conform, and fold, enabling a new intuitive user interface. Further, companies are progressing towards the use of plastic displays as an alternative to glass displays, which provides an opportunity for future growth
Wearable devices segment accounted for over 40% of the overall revenue in 2015 and is expected to witness a healthy demand over the forecast period. This increase is primarily ascribed to an upsurge in demand for fitness or activity trackers as these products are well-positioned in the market with a promise of tracking productivity, physical activity, heart rate, sleep, etc. that intrigues customers
Asia Pacific flexible electronics market accounted for over 20% of the overall revenue share in 2015. Research capabilities and aggressive investments by major industry players such as LG and Samsung Electronics in anticipated to drive the regional growth over the forecast period
Prominent industry participants include 3M, E Ink Holdings Inc., GE Measurement & Control Solutions, ITN Energy Systems Inc., LG, PARC, Samsung, and Thinfilm Electronics ASA. Strategic alliances among the major stakeholders such as material manufacturers, academia, and device integrators are anticipated to strengthen the existing technology know-how while driving drive efforts to explore new application areas

Protein Engineering Market Worth $3.09 Billion By 2025

The global protein engineering market is expected to reach USD 3.09 billion by 2025, according to a new report by Grand View Research, Inc. The market is driven by presence of regulatory authorities consistently striving to reduce time and cost involved in the drug discovery process. One such example is the launch of critical path initiative by U.S. FDA, for incorporation of advanced technologies, such as protein engineering, in drug discovery processes. Moreover, this facilitates prediction of probable adverse reactions & toxicity and improves efficacy of target molecules early on, resulting in lowered drug attrition rates in the later stages. This is anticipated to help control overall expenditure. Rise in R&D expenditure by countries indicates the urgent need for adoption of these tools in all drug discovery and development processes.

The rising number of government initiatives aimed at enhancing protein engineering capabilities is anticipated to present the market with high growth potential. This has resulted in a significant rise in number of research activities & programs and fund allotment for R&D. For instance, Protein Engineering Network of Centres of Excellence (PENCE) contributed approximately USD 1.0 million for proteomics projects and hosted conferences on proteomics in Canada as an effort to broaden research associated with this technology.

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http://www.grandviewresearch.com/industry-analysis/protein-engineering-market

Further Key Findings From the Report Suggest:

Hybrid approach is predicted to observe exponential growth as a consequence of technological superiority and ability to overcome the shortcomings associated with the aforementioned technologies
Software & services is expected to emerge as the fastest growing segment owing to high inclination of companies to outsourcing of services to achieve overall cost-efficiency
Monoclonal antibodies held the largest share in protein-type segment due to development of these antibodies on a large scale through extensive adoption of these engineering tools
North America held a substantial share, which can be attributed to extensive research activities that are likely to provide high potential growth platform through consistent usage in this region
The market in Asia Pacific is projected to exhibit exponential growth over the coming years owing to rising awareness pertaining to benefits of protein engineering and increasing disposable income
The competition is marked by players employing strategies such as mergers & acquisitions and distribution agreements resulting in significant growth in their market share