Industrial Air Filtration Market Worth $18.0 Billion By 2027

The global industrial air filtration market size is expected to reach USD 18.0 billion by 2027, growing at a CAGR of 7.3% over the forecast period, according to a study conducted by Grand View Research, Inc. The growing demand for high-performing and energy-efficient products is expected to catapult the demand over the forecast period. Technological advancements have resulted in the manufacturing of a new filter media to meet the demand for energy-efficient products. This, in turn, has instigated the development of innovative raw materials such as small fibers and is further anticipated to provide new avenues for industry growth.

Soaring electricity consumption has led to the development of new power generation plants, which is expected to be a key factor driving the market for industrial air filtration. Furthermore, implementation of stringent government regulations in order to protect human health by limiting or eliminating airborne pollutant concentrations will further aid in catapulting the market. Enforcement of Occupational Safety and Health Act (OSHA) code is the key factor anticipated to drive the market for industrial air filtration. The OSHA standards prohibit companies from retaliating against employees for exercising their rights under the law.

Companies across the globe are turning towards sustainable alternatives and methodologies such as green manufacturing in order to improve competitive advantage and increase revenues. Similarly, governments across the globe are collaborating with numerous environmental organizations for developing standards to control harmful emissions in the region. These standards have contributed to the expansion of the market for industrial air filtration across regions.

However, lack of social responsibility and awareness may also pose a challenge to market growth. End use industries often lack their responsibility towards society and refuse to spend extra capital investment for installing an air pollution control devices, which is expected to hamper product demand over the next few years. Equipment purchase decisions are often based on the purchase price of the air filtration equipment, which is further expected to pose as a challenge to the market for industrial air filtration.

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Further key findings from the report suggest:

The dry scrubbers segment is expected to witness a CAGR exceeding 7.5% over the forecast period. Dry scrubbers generate minimal waste leading to the elimination of complex sanctioning procedure along with plummeting capital and operating costs
The demand for air filters in the power segment accounted for over 19% of the global industrial air filtration market in 2019 and the segment is expected to witness a steady growth over the next seven years, as this industry has to comply with several government regulations including Environmental Protection Agency (EPA) and OSHA standards
Asia Pacific accounted for over 25% of the overall revenue in 2019 and is expected to witness substantial growth over the forecast period, which is accredited to high penetration of these products across the metal and plastic industry coupled with increased R&D spending in the Asia Pacific food and beverage industry
Key players, such as Honeywell International, Inc., MANN+HUMMEL, Daikin Industries, Ltd., Clean TeQ Holdings Limited, 3M, and SPX Corporation, enhanced their market position through mergers and acquisitions in order to expand their geographical reach.

Biodegradable Plastic Market Worth $7.6 Billion By 2027

The global biodegradable plastic market size is projected to reach USD 7.6 billion by 2027, rising at a revenue-based CAGR of 9.4% during the forecast period, according to a report by Grand View Research, Inc. Increasing use of biodegradable products, owing to strict governmental laws for prohibiting use of conventional plastics and growing awareness among public toward their ill-effects is boosting the market growth.

Hand holding light bulb against nature on green leaf with icons energy sources for renewable, sustainable development. Ecology concept. Elements of this image furnished by NASA. (Hand holding light bulb against nature on green leaf with icons energy s

Biodegradable plastics are made of renewable raw materials and decompose in the environment within a reasonable period of time. Many of these require biodegradable additives to enhance the biodegradation process and some require a specific environment to disintegrate. Time taken by plastics to decompose depends upon various factors such as raw materials used and environmental conditions such as moisture and temperature.

The starch-based segment led the global biodegradable plastic market, since they are used in various applications such as packaging, consumer electronics, agriculture, automotive, and textiles. Polylactic Acid (PLA) is also one of the most consumed products, which is used in 3D printing, mulch film, and packaging.

Ban on plastics by European Commission is anticipated to drive the packaging segment growth over the forecast period. Novel applications of biodegradable products in the medical sector for drug encapsulation and medical surgeries are also being increasingly practiced.

People across the globe, are facing grave issues of waste as conventional plastics take hundreds of years to decompose. To tackle this issue several countries have banned the use of single-use plastic products and are promoting eco-friendly biodegradable products. Ban of non-reusable conventional plastics in many regions, especially in Europe and North America, is estimated to propel the market demand. Additionally, improving standard of living and increasing disposable income in developing countries are likely to augur well for the market in Asia Pacific and Central and South America.

Key players are investing in research and development activities in order to create improved products that are strong and can be easily decomposed in natural environment. Many companies have integrated value chain to serve customers better and improve company profits.

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Further key findings from the report suggest:

The Polyhydroxyalkanoate (PHA) segment is projected to expand at a significant CAGR of 10.0% in terms of revenue during the forecast period, owing to increasing use of PHA in medical and other applications
Packaging is the largest end-use segment, followed by the agriculture sector, owing to replacement of conventional plastics in food packaging such as boxes, wraps, cups, plates
Europe is the largest region in terms of revenue as well as volume. However, Asia Pacific is expected to emerge as the fastest growing region
Major players in the biodegradable plastic industry include BASF SE, NatureWorks LLC, Mitsubishi Chemical Corporation, Carbion, and Biome Technologies plc.

Drilling Fluids Market Size Worth $11.1 Billion By 2027

The global drilling fluids market size is projected to reach USD 11.1 billion by 2027, according to a new report by Grand View Research, Inc. The market is projected to witness a moderate CAGR of 4.2% over the forecast period. Revival of new exploration and production projects on account of recovery in oil prices over the next few years is expected to drive the market growth over the forecast period.

Ongoing demand for advanced and better formulations for horizontal and directional drilling is expected to provide opportunity to market players. Moreover, the rise in demand for oil and gas has resulted in oil exploration companies exploring unconventional methods of oil extraction.

However, some European countries have established stringent norms for drilling fluids. This is because some drilling fluids, for instance, oil-based fluids, when discharged in water, can form piles of mud and cuttings that cover parts of the seabed which hinders aquatic life. These factors are expected to hinder the growth of the market over the forecast period.

Governments in various countries around the world such as U.S., Indonesia, China, and Australia are taking favorable initiatives to explore untapped oil resources. For instance, the Indonesian government provides favorable trade policies such as 0% import duty on imports of floating or submarine production facilities and drilling platforms, thereby driving the demand for unconventional drilling techniques. Moreover, reduced taxes are applicable over Foreign-owned Drilling Companies (FDCs) carrying out drilling activities in Indonesia, which is another factor driving the demand for drilling fluids.

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Further key findings from the report suggest:

Onshore emerged as the leading application segment of the overall market in 2019 owing to the presence of a large number of onshore oil rigs as compared to offshore oil rigs
In 2019, North America dominated the global market due to the presence of favorable initiatives taken by the governments in U.S. and Canada for the exploration of oil and gas
Asia Pacific is expected to register the highest growth rate over the forecast period owing to a rise in oil exploration and production activities in countries such as China, Australia, Brunei, and Indonesia
The water-based fluids segment dominated the market in 2019 owing to factors such as increase in environmental concerns and cost-effectiveness of these fluids
Synthetic-based fluids is expected to register a significant growth rate over the forecast period owing to its low toxicity, low bioaccumulation potential, and lower fluid loss when compared to other variants
Major players in the drilling fluids market include Schlumberger, Baker Hughes, Halliburton, Weatherford International, and National Oilwell Varco. Market players focus on R&D activities and enhancing their product portfolio.

Omega 3 Market Size Worth $4.50 Billion By 2027

The global omega 3 market size is projected to reach USD 4.50 billion by 2027, expanding at a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising consumption of omega 3 in the active pharmaceutical ingredient (API) market is one of the major factors driving the demand for the product. Market growth can be attributed to rising health consciousness among consumers across the globe following a rise in the spread of chronic diseases.

Growing population in emerging countries, notably in Asia Pacific, has contributed to the growth of the market. In addition, the industry is driven by technological advancements pertaining to the manufacturing of APIs among other highly potent active ingredients across the globe. Strong growth of the dietary supplements market is another important factor bolstering the demand for omega 3. The product is increasingly consumed in the dietary supplements market to reduce the risk of cardiovascular and heart diseases.

Omega 3 is known to reduce the risk of arrhythmias or abnormal heartbeats. Furthermore, it slows down the growth rate of atherosclerotic plaque while lowering the levels of blood pressure in humans. The growth of the industry is also attributed to rising disposable income, notably among the middle class population in economies, such as China and India.

North America emerged as the largest regional omega 3 market in 2019. This is attributed to increasing focus of the market players on R&D activities for the development of various grades of omega 3, most notably pharma grade omega 3 for enhanced medication to prevent chronic diseases.

Asia Pacific is expected to expand at the fastest CAGR over the forecast period. Ongoing advancements in the food industry and medical science, coupled with demographic changes and high consumer demand, are expected to provide impetus to the regional market growth throughout the forecast period.

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Further key findings from the study suggest:

In terms of application, supplements and functional foods emerged as the largest segment in 2019, generating a revenue of USD 1.30 billion. The segment is expected to witness significant growth over the forecast period
Asia Pacific is expected to witness the fastest growth over the forecast period. The growth of the region is led by economies, including India, China, and Japan. The region has also been witnessing uniform and sustained growth across all the application segments
The market is characterized by intense competition due to presence of a sizable number of international and domestic players. Key players are adopting strategic initiatives, such as mergers & acquisitions and product innovation, in order to withstand competition in the market
Key omega 3 market participants include Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corporation, GC Reiber Oils, Martek Biosciences Corporation, and Lonza.

Paint Protection Film Market Worth $484.7 Million By 2027

The global paint protection film market size is projected to reach USD 484.7 million by 2027, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.9% over the forecast period. Rising consumer awareness regarding vehicle paint protection against bug splatters, stone chipping, and abrasions is anticipated to fuel the demand for paint protection film (PPF).

paint protection films market is moderately fragmented in nature and is moving towards consolidation. Abundant availability of raw materials and presence of several major players with adequate production capacities have resulted in an increased competition among the players. Product durability, price, and environment friendliness are estimated to be the key factors influencing buyer decision.

The product is widely available on retail as well as online platforms. However, its installation requires expertise and specially trained personnel for optimum results. Hence, a majority of players also provide after-purchase services. Furthermore, a few players have established contracts with local installers to strengthen their geographical presence.

Frequent variations in raw material pricing and declining automotive production in major economies including U.S., Japan, and Korea are expected to act as a challenge for market players. However, rapid growth of other application sectors including electrical and electronics and aerospace is likely to open new avenues for them.

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Further key findings from the report suggest:

In 2019, the automotive and transportation segment dominated the paint protection film market in terms of volume, wherein a majority of the demand is derived from the passenger cars segment owing to the superior color protection properties of PPF
In terms of value, the aerospace and defense segment is estimated to register a CAGR of over 12.0% over the forecast period. This is attributed to increasing investments in the aircraft and defense sectors in China, U.S., and India
Asia Pacific dominated the market with USD 109.5 million in 2019 since it is the largest producer and consumer of automotive as well as electrical and electronic products
Key players operating in the market are 3M Company; Eastman Chemical Company; KDX Composite Material; XPEL, Inc.; and Avery Dennison Corporation
Mergers, integrations, tie-ups with third-party installers, innovative manufacturing techniques, and wide distribution channel are projected to be the key success factors for manufacturers to sustain competition.

Microfluidics Market Size Worth $31.6 Billion By 2027

The global microfluidics market size is expected to reach USD 31.6 billion by 2027, according to a new report by Grand View Research, Inc., registering an 11.3% CAGR over the forecast period. Demand for microfluidic-based devices is expected to surge owing to introduction of novel technologies such as digital microfluidics. These techniques allow on-chip biochemical analysis, thereby driving adoption.

Rise in the adoption of microfluidics for point-of-care diagnostics is expected to have a significant impact on market growth. Industry players such as Abbott, Roche, and Danaher have already incorporated this technology in their existing diagnostic devices and are exploring the scope of digital microfluidics. For instance, Philips’ Minicare I-20 handheld device provides accurate and rapid results for the diagnosis of heart attacks.

Large investments targeted toward the development of microfluidics and promoting their adoption are expected to create opportunities for the expansion for automated as well as miniature devices. For instance, according to an article published in 2018, there have been large-scale investments in “sample-to-answer” microfluidic automated testing in recent years.

Microfluidics has not only been proven beneficial in biological bench-work but also several medical and pharmaceutical applications, including diagnosis of infectious diseases and treatment of cancer. The technology aids in the fabrication of functional living tissues and artificial organs. Companies such as Abbott, Roche, Cepheid, and Becton, Dickinson and Company (BD) are integrating such technologies with in-vitro diagnostics (IVD). Samsung LABGEOPT10 and Abbott i-STAT are examples of single-step blood glucose testing assays that can work on a small sample volume (a single blood drop).

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Further key findings from the report suggest:

The medical/healthcare segment dominated the market by technology owing to rise in demand for new molecular diagnostic tests with enhanced sensitivities, shorter turnaround time, and increased accuracy at minimal costs
PCR & RT-PCR were the largest revenue-generating medical technology in 2019 and the segment is expected to retain its lead throughout the forecast period. Digital PCR in combination with a microfluidic device allows a large amount of PCR reaction mix to be distributed into nanoliter-sized volumes automatically
The organs-on-chips application segment is expected to register the fastest CAGR throughout the forecast period. The method can potentially reduce the failure rate in drug development pipelines, thereby reducing the time and money associated with drug development
By material, polydimethylsiloxane (PDMS) accounted for the largest revenue share in 2019. The material is used to fabricate microfluidic-based devices because of its nontoxicity, robustness, optical transparency, permeability, biocompatibility, elastomeric features, and low cost.
North America dominated the global microfluidics market in 2019 and is expected to retain its dominance over the analysis period. Local presence of leading players, availability of funds and research capital, and launch of novel sample volume screening technologies drives the North America market
Asia Pacific is expected to witness the fastest growth owing to rise in aging population, demand for point-of-care diagnostic tests, and presence of academic institutions such as the Institute of Microchemical Technology (IMT), Japan, that are focused on microfluidic-based research
Illumina, Inc.; PerkinElmer, Inc.; Agilent Technologies, Inc.; Danaher Corporation; Bio-Rad Laboratories, Inc.; Life Technologies Corporation; Abbott Laboratories; F. Hoffmann-La Roche Ltd; and Fluidigm Corporation are some of the key players operating in the global market

Exoskeleton Market Size Worth $4.2 Billion By 2027

The global exoskeleton market size is anticipated to reach USD 4.2 billion by 2027, expanding at a CAGR of 26.3% over the forecast period, according to a new report by Grand View Research, Inc. Growing adoption of exoskeletons in healthcare and non-healthcare settings, reimbursement coverage offered on these systems, and increasing prevalence of spinal cord injuries (SCIs) are the key factors driving the market. Moreover, development in robotics and growing demand for customized exoskeleton that addresses the specific needs of the patients is anticipated to fuel the growth over the forecast period.

Based on technology type, in 2019, mobile exoskeleton dominated the global market, accounting for a revenue share of 61.8%. Introduction of innovative mobile exoskeleton by manufacturers for the aging and disabled population is a key factor driving the market. However, mobile systems are complicated and expensive to design, which increases their cost. This is compelling the patients to switch to the stationary systems, thus making stationary systems the fastest growing segment in the market.

On the basis of technology drive type, in 2019, electric actuators dominated the global exoskeleton market with a share of 32.1% in terms of revenue, as they are cost-effective in comparison with the other drive types. Moreover, presence of a wide variety of commercialized electric actuators is fueling the growth of this electric actuators segment. Usage of fuel cell-powered exoskeleton is increasing in military applications as they provide longer operation hours. This is anticipated to drive the fuel cell segment over the forecast period.

North America dominated the global market in 2019, generating a revenue of USD 297.8 million. Increasing investments in robotics, growing geriatric population, favorable reimbursement policies, and availability of funding for various projects are anticipated to drive the regional market over the forecast period. Asia Pacific is expected to exhibit the fastest CAGR owing to growing geriatric population, improvement in the healthcare infrastructure, and increasing investments in robotics in countries, such as Japan, China, and India.

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Further key findings from the report suggest:

The global exoskeleton market size is anticipated to reach USD 4.2 billion by 2027 owing to rising applications of these products in healthcare and non-healthcare settings
Based on technology type, mobile exoskeleton accounted for a major share of 61.8% in 2019 owing to introduction of innovative mobile systems for various industrial applications
On the basis of technology drive type, electric actuators dominated the global market with a revenue share of 32.1% as they are cost-effective than other drive types
North America dominated the market with a value of USD 297.8 million in 2019 owing to availability of favorable reimbursement policies and increasing investments in robotics
Some of the key players operating in this market are Ekso Bionics, Cyberdyne, ReWalk Laboratories, REX Bionics, and Suit X.

Enteral Feeding Formulas Market Size Worth $8.72 Billion By 2027

The global enteral feeding formulas market size is expected to reach USD 8.72 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% from 2020 to 2027. Increasing prevalence of diseases such as diabetes, cancer, dementia, multiple sclerosis, chronic liver disease and COPD is expected to boost the demand for enteral products that aid patients having trouble in oral intake. As per a study published by Cancer Research U.K., approximately 17.0 million new cancer cases were reported in 2018 across the globe. Incidence of cancer is projected to increase by 62% between 2018 and 2040.

In addition, growing deficiency of macro and micro nutrients among the patients in hospitals during pre and post-surgery drives the demand for enteral feeding formulas. Furthermore, increasing product offerings aimed at specific indications are delivering targeted nutritional needs, which is a key driver of this market. These enteral tube feeds usually contain polysaccharides and proteins for patients capable of digesting and absorbing nutrients without any difficulty. Availability of wide varieties of enteral formulas, along with increased demand for low-cost nutrient formulations among consumers, is boosting the market growth. Moreover, favorable reimbursement scenario supports high adoption of tube feeds among hospital patients as the enteral nutrition is usually covered under Medicare claims.

Moreover, the market is consolidated with presence of few leading players, including Nestle Health Science, Abbott, and Danone. These players are constantly investing in the R&D activities for development of enhanced products that cater to the niche therapeutic areas having high growth potential in the industry in order to gain a competitive edge. Market entry has proved to be challenging for new entrants as the industry is dominated by few major MNCs with high brand recognitions.

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Further key findings from the report suggest:

Standard formula emerged as the leading product segment in 2019 with a revenue share of 54.3% in the global market
By flow type, intermittent feeding flow accounted for the largest revenue share in 2019. Continuous feeding flow is projected to expand at the fastest CAGR during the forecast period
The adults stage segment accounted for the largest revenue share in 2019 owing to growing demand for such nutrition formulations in the adult population
Others emerged as the leading indication segment in 2019 with a revenue share of 41.9% in the global market
Home care emerged as the leading end user segment in 2019 and is expected to witness significant growth over the forecast period
North America accounted for the largest share in 2019 due to growing preference for home-based enteral therapy in the region.

Patient Engagement Solutions Market Size Worth $41.7 Billion By 2027

The global patient engagement solutions market size is expected to reach USD 41.7 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 17.3% over the forecast period. The market is expected to register exponential growth due to the adoption of m-health; increasing prevalence of chronic conditions such as diabetes, asthma, and arthritis; improved healthcare services; enhanced patient education; patient data tracking; and diagnostic treatment.

In July 2019, a bipartisan group in Congress in U.S. introduced a new legislation that would allocate a fund of USD 25 million in grants for local, state, and tribal governments to develop Social Determinants Accelerator Plan with the aim to improve tracking and coordinating patient outcomes. Such initiatives are anticipated to drive the demand for these services over the forecast period.

Moreover, in March 2019, the American Medical Association entered into a collaboration with PatientPoint with the aim to access point of care to help prevent the occurrence of cardiovascular diseases and type 2 diabetes. Using PatientPoint technology, approximately 6,500 practicing doctors across U.S. are expected to educate individuals regarding disease prevention. Programs such as these are expected to drive market growth over the forecast period.

Some of the major market players are Allscripts Healthcare Solutions, Orion Health Ltd., Cerner Corporation, and McKesson Corporation, which collectively account for a substantial market share owing to their extensive product offerings. Moreover, key players are focusing on expanding their portfolio to gain competitive edge over their competitors. For instance, in October 2019, IQVIA launched Orchestrated Patient Engagement, a new cloud-based software as a service (SaaS) solution that narrows the gap between patients and life sciences companies by facilitating insights and interactions.

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Further key findings from the report suggest:

Web-based/cloud-based emerged as the largest delivery type segment in 2019 as it supports hassle-free information flow between patients and healthcare providers. Moreover, bulk data can be stored in these platforms and enable remote access
The software segment dominated the market in 2019, owing to continuous development in patient engagement solutions along with its increasing applications in consulting, education, and implementation. Software solutions are easy to install and use, enable quick access to specific drug information, and enable healthcare providers to digitally upload prescriptions
Rising prevalence of chronic diseases such as cardiovascular diseases, obesity, and diabetes, which require constant monitoring, is expected to drive the demand for these services in the coming years
Chronic diseases dominated the market in 2019 owing to the associated benefits of these solutions in chronic disease management. These solutions help patients connect with their healthcare providers from remote locations, thereby enabling streamlined flow of information, patient feedback, and other health-related data
North America dominated the global patient engagement solutions market in 2019 owing to increased adoption of m-health and electronic health record (EHR) and growing investments in patient engagement software by major companies
Companies are adopting various strategies to sustain competition. New product/solution development, partnerships, mergers, acquisitions, strategic collaborations, and geographical penetration are some of the key strategies adopted by market players

Baby Personal Care Market Worth $9.21 Billion By 2027

The global baby personal care market size was valued at USD 9.21 billion in 2019, expanding at a CAGR of 6.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market is largely driven by rising consumer awareness about personal hygiene of babies and increasing number of births per year in developing countries.

Moreover, manufacturers such as The Procter & Gamble Company, Kimberly-Clark Corporation, and Johnson & Johnson Limited are investing in innovation and product trials and development of a vast variety of baby personal care products as millennial parents are spending more and are financial stable, resulting in higher spending capacity.

With an average birth rate of 16.6% in developing countries and 11.2% in developed countries in 2018, the market is expected to witness significant demand for innovative products with minimum health and environmental hazards. Demand for organic personal care products is expected to provide a huge opportunity for the product manufacturers by encouraging them to innovate their product offerings. However, relatively higher prices of organic baby products as compared to regular cosmetic products are anticipated to restrain the market growth.

Cosmetics including baby personal skin care products held the largest market share and will continue to grow at a robust pace in future due to a wide range of product offerings, including skin and hair care. In the toiletries segment, diapers and disposable diapers are expected to witness significant growth during forecast period.

Asia Pacific is anticipated to be the fastest growing regional market in the coming years as demand for baby personal hygiene products is growing in countries, such as India and China, due to increasing number of births, and hence raising consumer spending on baby products in this region.

Rise in the sales of organic and natural skin care products have pushed the manufacturers globally to increase their scale of operation. Furthermore, key brands are principally targeting consumers who are looking for organic products. Internationally reputed market players such as Procter & Gamble (P&G) and Kimberly-Clark held a significant market share in 2019. P&G drove sales in the toiletries segment with its premium diaper brand “Pampers”. Kimberly-Clark is the second biggest baby personal care product manufacturer with toiletries brands, such as Huggies, GoodNites, Pull-Ups, and DryNites. Johnson and Johnson (J&J) contributed to the growth of the baby cosmetic segment with its skin and sun care products, hair care products, and shower gels.

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Further key findings from the report suggest:

On the basis of product, toiletries including baby wipes and diapers are expected to witness strong growth during the forecast period
Based on distribution channel, the online segment is likely to expand at the fastest CAGR throughout the forecast period
Asia Pacific is anticipated to emerge as the fastest growing regional market in the years to come with India and China being the key contributors to the baby personal care market growth
Some of the key players operating in the global market are Nestle S.A.; BABISIL; Cotton Babies, Inc.; Danone S.A.; The Himalaya Drug Company; Farlin Infant Products Corporation; and Mead Johnson Nutrition Company