Food Service Equipment Market Size Worth $44.66 Billion By 2025

The global food service equipment market size is expected to reach USD 44.66 billion by 2025, at a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. Expansion of food service industry and demand for high-end technologies is creating new growth avenues for the market. Changing lifestyle of the working population coupled with high demand for ready-to-cook food is boosting the sales of refrigeration equipment. Moreover, increasing disposable income and the need to upgrade kitchen equipment are also contributing to the growth.

The kitchen purpose segment led the market in 2018. The segment is further categorized into cooking equipment and food and beverage preparation equipment. This equipment are an essential part of producing food for a large number of customers. The equipment is used to carry out different operation ranging from cooking, cutting, baking, and others to improve the productivity of food production operation.

The market for quick service segment is expected to expand at the highest CAGR over the forecast period and is expected to reach over USD 13.17 billion by 2025. Food service equipment are extensively used in restaurants for food processing and handling. Substantial growth of the quick-service restaurant, especially in Asian Countries such as China and India is expected to boost overall market growth in the forthcoming years.

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https://www.grandviewresearch.com/industry-analysis/food-service-equipment-market

Further key findings from the report suggest:

  • Full service equipment emerged as the largest segment in 2018 and is expected to expand at a CAGR of 4.4% over the forecast period
  • Cooking equipment is expected to expand at the highest CAGR of 5.8% over the forecast period
  • North America led the market in 2018. Technological advancements in cooking processes is providing avenues for new requirements and opportunities of restaurant equipment. The food industry in this region is also witnessing an urgent need for increased efficiency to deliver larger outputs along with lesser preparation cost
  • Key players operating in the food service equipment market include AB Electrolux; Ali Group; ITW; Middleby Corporation; and Dover Corporation Manitowoc Company Inc. among others

Peri-implantitis Market Size Worth $1.3 Billion By 2027

The global peri-implantitis market size is expected to reach USD 1.3 billion by 2027, expanding at a CAGR of 8.7%, according to a new report by Grand View Research, Inc. Peri-implantitis is a site-specific destructive inflammatory disease affecting soft and hard tissues around osseointegrated implants, causing a decrease in bone volume and formation of peri-implant pockets. The success rate of dental implants was reported to be 92%–98% over a period of 10 years. Yet, factors like increasing patients with a history of periodontitis, the advent of technological advancement pertaining to efficient treatment of peri-implantitis, and a rise in the patient population prone to smoking and diabetes are fueling the market growth.

The prevalence of peri-implant complication is expected to be on the rise with the increased number of implants being placed around the globe. According to NCBI, in the U.S. from 1999 to 2017, per year 14.0% increase in implant prevalence was recorded. Annually there are about 2,60,000 implants placed in the U.K., which indicates the growing demand for dental implants. As implants are becoming a common treatment, associated disease prevalence including peri-implant mucositis and peri-implantitis shows a positive correlation. Moreover, according to the CDC, 47.2% of adults aged 30 years in the U.S suffered from some form of periodontal disease in 2019. The condition is more common in men than women as they are more prone to smoking and health conditions like diabetes. Advancements like laser debridement, guided bone regeneration (GBR), and diagnostic genetic biomarker technique are expected to boost peri-implantitis treatment market growth.

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https://www.grandviewresearch.com/industry-analysis/peri-implantitis-market

Further key findings from the report suggest:

  • The surgical segment dominated the market in 2019 due to the fact that surgical debridement procedures are efficient and are considered as the most effective technique to treat peri-implantitis
  • Laser debridement non-surgical technique is anticipated to witness the highest growth over the forecast period as it has improved clinical outcomes are efficient due to selective calculus removal
  • Europe dominated the market in 2019 owing to the rising technological advancements for peri-implantitis treatment
  • In the Asia Pacific, the market is expected to witness the highest CAGR over the forecast period owing to the growing geriatric patient population, rising awareness about dental implants and associated disease, and rapid technological advancements.

U.S. Active Adult (55+) Community Market Worth $732.1 Billion By 2027

The U.S. active adult (55+) Community market size is estimated to reach USD 732.1 billion by 2027, expanding at a CAGR of 4.3%, according to a new report by Grand View Research, Inc. The growing interest of older adults below 65 years of age towards maintenance-free lifestyle, structured activities, socialization, and a sense of community are the major factors driving the market. In addition, retirement not being in the eligibility criteria, and the variety of optional care and support services available at these facilities are the factors boosting the market growth.

An increasing population aged between 55 to 64 years are categorized as active adults seeking a social and friendly environment. According to the U.S. Census Bureau, baby boomers aged between 55 and 73 have brought both challenges and opportunities to the economy, infrastructure, and institutions. Active adult communities are quite similar to any other residential community, apart from their age restrictions, most of them are designed for a low maintenance lifestyle. These communities are mostly built near shopping malls, parks, restaurants, and other places for socializing, as the residents want to live a healthy lifestyle during their final years of retirement. The communities do not provide on-site dining facilities or healthcare services to the residents. The Homeowners Association (HOA) dues of these communities pay for assured communal amenities.

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https://www.grandviewresearch.com/industry-analysis/us-active-adult-community-market

Further key findings from the report suggest:

  • By gender, women held the maximum share in 2019 attributed to a greater life expectancy of women. The men segment is expected to witness a high CAGR during the forecast period attributed to postponement of disability to older ages
  • Strategic initiatives undertaken by various market players are expected to keep growth prospects upbeat in the following years
  • There are different types of active adult communities based on the population, including luxury communities, college town & university communities, retirement parks, golf and resort communities, religion-specific communities, active senior communities, single only communities, and gated communities. The college town and university communities are more preferred among older people who want to continue working

External Ventricular Drain Market Worth $9.5 Billion By 2027

The global external ventricular drain market size is anticipated to reach USD 9.5 billion by 2027, expanding at a CAGR of 7.6%, according to a new report by Grand View Research, Inc. High incidence of hydrocephalus and subsequent increase in the number of surgical procedure to treat this condition is driving the market. An external ventricular drain is also known as ventriculostomy is a medical procedure performed to remove excess cerebrospinal fluid from the ventricles of the brain to maintain intracranial pressure. It is used for conditions such as severe head injury, hydrocephalus, intracranial hypertension, subarachnoid hemorrhages, and inflammatory diseases of the cerebrospinal space.

The rising prevalence of cerebrovascular disorders and traumatic brain injuries globally is leading to the increased demand for external ventricular drain, thereby propelling the market growth. According to the Stroke Statistics 2018, over 100,000 people suffer from strokes in the U.K. every year. Out of which around 85.0% are ischemic strokes and 15.0% are hemorrhagic, which results in the blocking of blood flow to the brain.

Furthermore, the incorporation of various modern technologies, and the introduction of new products by market players, are likely to boost the market during the forecast period. For instance, in September 2017, Arkis BioSciences received U.S. FDA approval for its “CerebroFlo”- an external ventricular drainage catheter. It is used for insertion into the ventricular cavity for external drainage of cerebrospinal fluid.

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https://www.grandviewresearch.com/industry-analysis/external-ventricular-drain-market

Further key findings from the study suggest:

  • Based on applications, the traumatic brain injury segment dominated the market with a share of 33.7% in 2019 owing to the increase in the prevalence of Traumatic Brain Injuries (TBI). As per the CDC, in 2014, TBI was responsible for 2.8 million hospitalizations, emergency department visits, and deaths in the U.S.
  • North America dominated the market with the highest revenue share of 35.6% in 2019 owing to the high incidence rate of cerebrovascular disorders, well-established healthcare infrastructure coupled with rising approvals by the U.S. FDA for new products
  • In the Middle East and Africa, the market is expected to witness the highest CAGR of 8.2% from 2020 to 2027 owing to untapped opportunities in the region, growing incidences of neurological illnesses, and increased incidences of brain injury in this region.

Healthcare Insurance Market Worth $4.0 Trillion By 2027

The global healthcare insurance market size is expected to reach USD 4.0 Trillion by 2027, expanding at a CAGR of 6.7%, according to a new report by Grand View Research, Inc. Growing cost of healthcare, increasing prevalence of various chronic diseases as well as the rise in government initiatives for health cover schemes to improve healthcare are boosting the market growth.

Healthcare gets more expensive with the growing population and rising average life expectancy. Also, 50.0% of the increase in healthcare spending comes from the increased costs for services, particularly inpatient hospital care. Furthermore, increasing incidences of chronic conditions such as heart disease and diabetes have had a direct impact on the increasing cost of medical care. Both the diseases alone are responsible for 85.0% of the healthcare costs and almost half of the Americans have a chronic illness.

Moreover, the current pandemic of COVID-19 has been an eye-opener for many people, reinstating the need for health cover at all times. The market has seen rapid growth in the past 3 months due to the outbreak of the coronavirus pandemic. In India, the health and specialized health insurers have been rolling out focused on health cover against COVID-19 in the past six months. There has been a significant rise in the demand for health coverage with the government lockdown and coronavirus pandemic.

Besides, to meet the changing preferences of customers, health insurers are offering value-added services and are using AI-driven chatbots to create a more engaging experience. They are reacting to the evolving business environment by shifting their value proposition to improve customer-centricity along with operational efficiency and flexibility.

The adult segment dominated the market and accounted for the largest revenue share in 2019. This is attributed to rising cases of lifestyle diseases among adults, which is likely to increase health issues in the future. Adults are more prone to cardiovascular disorders, thereby driving the segment. The senior segment is expected to witness significant growth over the forecast period. This is owing to increasing cases of hospitalization of people over 65 years of age due to chronic diseases.

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https://www.grandviewresearch.com/industry-analysis/healthcare-insurance-market

Further key findings from the study suggest:

  • The private segment is anticipated to register the fastest CAGR of 7.0% over the forecast period. This is owing to the fact that a large number of private players are present in the market
  • The life insurance segment accounted for the largest share of 53.3% in 2019 due to the advantages it offers such as permanent coverage and guaranteed death benefit
  • North America held 41.0% of the market share in 2019. This growth can be attributed to increasing awareness regarding various health policies in the region
  • In the Asia Pacific, the market is expected to witness the fastest CAGR of 8.9% over the forecast period due to the increasing penetration of insurance services in urban and rural centers and favorable government policies.

Fire Safety Equipment Market Size Worth $105.92 Billion By 2025

The global fire safety equipment market size is expected to reach USD 105.92 billion by 2025 at a CAGR of 8.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Strict government regulations and mandates concerning workplace safety are expected to be the key factors driving the market. Increasing awareness about the benefits of installing fire safety and security equipment and demand for state-of-the-art fire protection equipment are also expected to fuel the market growth.

Transition towards the installation of technologically advanced fire detection systems, and eco-friendly fire suppression agents is also expected to support the market development over the forecast period. Advent of smart fire suppression and detection systems, proliferation of Internet of Things (IoT) for the wireless integration of such systems, enforcement of various safety and building codes, and increasing fire safety expenditure by enterprises are several other factors responsible for market growth.

Increasing accidents and loss of property owing to fire breakouts has alarmed the need for installation of smart systems, such as wireless sensor networks, across the industrial, commercial, and residential sectors. Therefore, regulatory bodies across various countries are framing new regulations focusing on mandating the installation of fire protection systems. For instance, in U.S., fire sprinkler systems are mandatory for hostel premises. North America led the market in 2018 and is expected to continue the dominance over the forecast period. Rapid growth of the construction industry in Canada and U.S. is driving the demand for fire safety equipment.

Increasing automation in buildings and preference for smart homes along with rising demand from the mining and manufacturing industries in the region is expected to bolster the demand further. Asia Pacific is expected to exhibit the highest CAGR over the forecast period. Growing need for mass transportation, such as airport security, including intelligent transportation systems, due to rapid industrialization and urbanization in emerging economies like India, China, and Japan, is anticipated to offer lucrative growth opportunities for the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/fire-safety-equipment-market

Further key findings from the report suggest:

  • Fire detection segment is expected to lead the market owing to the advent of advanced technology, such as wireless detection and wireless networking, thus reducing the installation costs
  • Fire detectors is expected to lead the fire detection segment with a CAGR of 8.3% from 2019 to 2025 due to stringent government regulations across different countries
  • Smoke detectors will dominate the fire detectors segment on account of their increasing usage in commercial buildings since they are cost-effective and have a longer lifespan
  • Industrial sector led the fire suppression market in 2018. Oil & gas and mining industries are highly prone to fire accidents due to involvement of flammable materials; thus, account for the maximum demand for suppression systems
  • North America led the global market in 2018 and is expected to continue the dominance over the forecast period due to stringent fire safety regulations and rapid infrastructural developments
  • Prominent companies in the fire safety equipment market include Bosch GmbH; Eaton Corp., Inc.; United Technologies Corp.; Honeywell International, Inc.; and Johnson Controls International plc

Connected Retail Market Worth $53.75 Billion By 2022

The global connected retail market size is expected to reach USD 53.75 billion by 2022 according to a new report by Grand View Research, Inc. Increasing adoption of Internet of Things (IoT) across retail sector is expected to drive the connected retail market over the forecast period. IoT offers retailers opportunities in three important areas, the supply chain, customer experience, and new channels & revenue streams. Several retailers have successfully embraced IoT to help customers connect with the next-generation consumers, sophisticated technology, and leveraging connected devices.

Emerging retailing formats such as omni channel retailing are anticipated to fuel industry growth over the next seven years. Omni channel retailing offers a seamless and flexible shopping experience to customers by integrating and aligning channels. It creates opportunities for retailers to capture more sales and increase loyalty and brand awareness.

The widening presence of mobile devices and the expanded use of mobile networks such as e-commerce engines are expected to serve as facilitators for a unified online/offline retailing experience.

However, possibilities of unauthorized access to various IoT applications or breaking into the device connectivity system are expected to challenge the IoT connected devices industry.

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http://www.grandviewresearch.com/industry-analysis/connected-retail-market

Further key findings from the study suggest:

  • The hardware segment is expected to grow at a CAGR of over 19% over the forecast period. The software segment is expected to witness highest growth over the next seven years owing to increasing number of applications for retail industry. Emerging app-driven hardware and embedded software into connected devices and the capability to monetize such device features and functions may contribute to industry growth. Hardware segment comprises sensors, RFID and gateway components.
  • Bluetooth LE is expected to witness substantial growth, with a CAGR of over 25% over the forecast period due to significantly low power consumption. Bluetooth Low Energy has a very low transmission frequency, which greatly improves the power consumption. Wi-Fi technology dominated the market with the revenue share of over 32% in 2014.
  • Managed services segment is contributed to over 40% of the overall global revenue shares in 2014. Implementing these services reduces the IT costs and enables retailers to gain the technical advantage. Retailers are increasingly outsourcing services to reduce risks and focus on its core competencies.
  • Asia Pacific regional market is expected to grow at a CAGR of nearly 25% over the forecast period. Major manufacturers in the industry are based in China, owing to cheap labor and higher production capacities. Further, China is making heavy investments in IoT industry, which may contribute to market growth.
  • Key industry participants include Atmel Corporation, ARM Holdings PLC, Cisco Systems, Inc., IBM, Google, Inc., Intel Corporation, NXP Semiconductors N.V.,Microsoft Corporation, PTC, Inc., Softweb Solutions, Inc., SAP AG and Zebra Technologies Corporation.

Data Center Power Market Worth $10.77 Billion By 2025

The global data center power market size is expected to reach USD 10.77 billion by 2025, expanding at a CAGR of 6.9% from 2019 to 2025 according to a study conducted by Grand View Research, Inc. The market is majorly driven by the shift in focus of end-users towards hyper-scale and colocation data centers. Rising establishments of such data center facilities is anticipated to result in an increasing demand for data center power equipment over the forecast period.

Globally, data centers consume around 3% of the total energy generated. Thus, various data center designers are currently adopting advanced power distribution and management solutions to attain energy efficiency at lesser Power Usage Effectiveness (PUE) ratios. This goal to reducing the PUE ratio is expected to further fuel the demand for intelligent and advanced data center power products over the forecast period.

Uninterrupted Power Supply (UPS) is the backbone of data centers and are deployed for the smooth working of servers and other networking devices. Moreover, the cost of UPS is significantly higher than any other data center power products. Furthermore, most datacenters use smart UPS systems, battery monitoring devices, and intelligent Power Distribution Systems (PDU) to reduce the PUE ratio. Thus, increasing penetration of these new devices is expected to boost the demand for UPS over the forecast period.

Many mega data centers in North America engage in procuring renewable energy sources for data center operations. Tier 1 and Tier 2 facilities are anticipated to witness the espousal of basic PDUs. However, adoption of intelligent infrastructure with power monitoring ability is expected to witness growth owing to rising concerns about power consumption, particularly in U.S. However, rise in complexity of data center design, high initial investment costs, and interoperability issues are expected to hinder growth of the data center power market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/data-center-power-market

Further key findings from the report suggest:

  • The UPS segment held the largest market share in 2018, accredited to the increasing demand for energy in data centers and adoption of co-location data centers globally
  • North America accounted for around 38.0% market share in terms of revenue in 2018 and is expected continue the dominance over the forecast period, owing to the increasing number of data centers in U.S. Additionally, the region has emerged as the hub for operators and cloud service providers owing to affordable utility rate and tax incentives
  • The data center power market is highly consolidated and is characterized by high competition with the presence of key players such as ABB, Black Box Corporation, Eaton, Generac Power Systems, and Huawei Technologies Co., Ltd., among others
  • These players engage in mergers and acquisitions to withhold strong market presence. For instance, in March 2016, Generac Power Systems, Inc. announced the acquisition of PR Industrial S.r.l (PRAMAC), a manufacturer and supplier of mobile, portable, and stationary generators. Through this acquisition, the former aimed at propelling product sales and elevating its market presence in Europe.

Network Access Control Market To Grow At 30.2% CAGR From 2015 To 2022

The global network access control market is expected to be worth USD 4.39 billion by 2022. Rising demand for endpoint intelligence and risk mitigation have led to a high demand for NAC solution. Also, technological proliferation is also expected to augment the demand for NAC solution. Rising use of Internet of Things (IoT) and machine to machine networks is projected to fuel growth over the next seven years. Network access control is capable of addressing dynamic enterprise and regulatory scenario.

Several vendors in North America are investing in network access control solution due to which the market is likely to gain traction. The market is expected to present a lucrative opportunity for manufacturers as it attracts several large-scale investments. These investments are likely to contribute significantly to the industry growth in the region.

Countries in Asia Pacific including India and China have a tremendous potential for growth. Growing demand for cloud-based social and mobile technologies are extensively being used in the region which in turn is expected to propel demand over the forecast period. As a result, NAC solutions are projected to witness substantial growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/network-access-control-market

Further key findings from the report suggest:

  • Web-based businesses are implementing security solution to save themselves from malware, cyber-attack and online fraud which affect organizational functioning and hamper business continuity.
  • Government run organization and agencies are adopting NAC solution to filter unauthorized users, networks and device connections. Regulatory compliance policies including Payment Card Industry Data Security Standard (PCI DSS) and Control Objectives for Information and Related Technology (COBIT) are likely to propel market growth.
  • The growing demand for secure network infrastructure is expected to drive NAC solutions growth primarily due to its ability to provide real-time tracking. Moreover, the substantial growth experienced by web based businesses and e-commerce websites, have led to increasing demand for secure infrastructure for carrying out e-transactions.
  • The online banking system is expected to present positive growth opportunities for BFSI vertical. The constant demand for high-end technology to combat hackers and malware by these institutions would augment the growth of NAC industry in this vertical. IT, financial institution and telecommunication companies have emphasized on endpoint intelligence and risk management efforts.
  • Vendors are focussing on adding functionalities such as post-connect and pre-connect to these solutions. Major steps are being taken in resolving the interoperability issues of NAC and making it more reliable. Key industry players include StillSecure, Portnox, Juniper Networks, Bradford Networks, Check Point Software Technologies, Aruba Networks, ForeScout, Cisco, Sophos, Bradford Networks, Aruba Networks, Pulse Secure, and Trustwave.

Oncology Companion Diagnostic Market Worth $5.7 Billion By 2027

The global oncology companion diagnostic market size is expected to reach USD 5.7 billion by 2027, expanding at a CAGR of 12.7%, according to a new report by Grand View Research, Inc. Expanding access to important genomic information with the aid of companion diagnostics enables informed decision making for designing the targeted treatment approaches for their patients, thereby increasing demand for comprehensive genomic testing and oncology companion diagnostics.

The commercial launch of drugs including Gleevec (imatinib) and Herceptin (trastuzumab) that require Companion Diagnostics (CDx) testing before prescription has increased revenue generation in the oncology companion diagnostics field. This growth is expected to continue in the future owing to a substantial number of CDx associated oncology drugs in clinical trials. Apart from functioning as exclusive or inclusive tests for therapies, CDx also plays a crucial role during participant selection in clinical trials. This is because there is an increased potential for a novel drug candidate to show a better response rate if the patient has its biomarker target.

The economic incentives associated with the use of CDx have encouraged drug developers to combine their drugs with diagnostic tests. However, the diagnostic manufacturers face conflicting demands from payers/providers on one hand and drug manufacturers on the other hand. The regulatory bodies also have stringent policies to align the development timelines of diagnostics and drugs. Therefore, the diagnostic companies are expected to broaden their scope of CDx development instead of focusing on the attainment of a match between a single diagnostic with a specific drug.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/oncology-companion-diagnostics-market

Further key findings from the study suggest:

  • The product segment held the largest market share in 2019 owing to increased adoption and usage rate of CDx tests
  • A significant increase in the approval rate of CDx and a rise in investments for co-development of drugs and their CDx is expected to increase the revenue generation in the product segment
  • Consumables occupied a major share of the product segment owing to the frequent use and purchase of media, buffers, reagents, and other consumables required for CDx assay
  • Immunohistochemistry (IHC) occupied a major portion of the technology segment owing to the benefits offered by IHC technology including cost and time effectiveness, the suitability of the technique for small tumor types, high adoption of IHC for routine oncology CDx, and low technological requirements associated with IHC
  • Presence of a substantial number of FDA approved IHC based CDx assays such as EGFR pharmDx Kits, ER/PR pharmDx Kits, HercepTest Kits, PD-L1 IHC 28-8 pharmDx, VENTANA PD-L1 (SP142) Assay, VENTANA ALK (D5F3) CDx Assay, and VENTANA ALK IHC assay is also expected to increase revenue generation within the IHC segment
  • The Non-Small Cell Lung Cancer (NSCLC) segment dominated the market in 2019 and is expected to maintain its dominance during the forecast period
  • NSCLC is a lung cancer subtype that accounts for approximately 84.0% of all cases of lung cancer. According to data published by the American Cancer Society (ACS), in 2020, around 228,820 new cases of lung cancer are projected to be diagnosed in the U.S.
  • The breast cancer and leukemia segments are expected to grow with substantial rates owing to a rise in the number of cancer cases
  • The hospital segment held the largest share in the market in 2019 and is expected to exhibit a considerable growth rate, owing to a rise in the number of cancer diagnostic tests in the hospitals
  • North America dominated the market in 2019 owing to the presence of a substantial number of players in this region, as well as the presence of a large number of FDA-approved CDx solutions in cancer therapeutics
  • Advancements in technologies and improvements in the economic condition are anticipated to drive the market at the fastest growth rate in the Asia Pacific
  • The presence of communities in Asian countries that are actively involved in monitoring and discovery of genetic biomarkers is expected to positively influence the market
  • The key players in the market are involved in mutually beneficial partnerships with global entities, including sponsors and diagnostic commercialization partners, which enables them to leverage their market potential globally.