3D Ultrasound Market Size Worth $4.8 Billion By 2027

The global 3D ultrasound market size is expected to reach USD 4.8 billion by 2027, expanding at a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Increasing preference for noninvasive diagnostic procedures coupled with continuous technological advancement in the field of 3D imaging is contributing to market growth. The advent of Artificial Intelligence (AI) and machine learning have improved the patient outcome.

AI can conduct a quantitative assessment by analyzing imaging information automatically and produce precise imaging diagnosis. The potential use of AI technology in the 3D ultrasound pipeline includes image and data interpretation, multi transducer technologies, image navigation, and quality optimization. Moreover, rising usage of imaging technology in various applications such as cardiology, general imaging, gynecology, and point of care are also contributing to market growth.

The market is expected to witness high demand for point of care 3D ultrasound. Major factors contributing to the growth are a miniaturization of technology and lower system cost. Furthermore, an increasing number of product launches and continuous technological collaboration among major players in the industry are also boosting the market growth. For instance, in November 2019, Philips Launched EPIQ Elite ultrasound system for gynecology and general imaging. The device combines 3D and 4D imaging and would improve patients’ clinical outcomes.

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Further key findings from the study suggest:

Based on the application, the general imaging segment dominating the market owing to the increasing number of product launches
Based on end-use, the handheld segment is expected to grow at the fastest pace over the forecast period due to the rise in point of care facilities
North America was the leading regional segment in 2019 and is expected to maintain its position during the forecast period, owing to the presence of various market leaders and continuous technological advancement in the region.

Quality Management Software Market Size Worth $17.08 Billion By 2027

The global quality management software market size is estimated to reach USD $17.08 billion by 2027, registering a CAGR of 10.1% from 2020 to 2027, according to a new study by Grand View Research, Inc. Quality management software (QMS) is used to better manage and control quality concerns regarding performance, customer satisfaction, and competitiveness of the organization. This is done by controlling the processes as well as products for consistent quality assurance, reducing the quality gap between manufacturing practices and end-product expectations, tracking of deviations, and ensuring compliances. Moreover, owing to the increasing advancements in functionality of solutions with the help of artificial intelligence (AI) and machine learning (ML) tools, the market is anticipated witness rapid growth.

The QMS market is expected to witness tremendous growth due to the increasing demand for effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market. Rapid technology advancements in IT and telecom as well as the automation of transportation and logistics industry are driving the market growth. QMS software offers numerous functionalities including handling of non-conformances, out of specification test results, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ ERP and CRM systems. All these capabilities coupled with the reduction in the costs are energizing the adoption of quality management software across a wide range of industries.

The flexibility and mobility offered by quality management software in solutions such as document control and non-conformances’ issue resolving is driving the demand for QMS software. The increasing demand for cloud based QMS solutions due to implied scalability and accessibility is becoming increasingly popular among all industrial sectors. For instance, in July 2019, MasterControl launched a new solution named MasterControl Manufacturing Excellence to help organizations bridge the gap between smart manufacturing and operational excellence by automating the last mile of production.

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https://www.grandviewresearch.com/industry-analysis/quality-management-software-market

Further key findings from the report suggest:

Document control segment is expected to witness phenomenal growth over the forecast period. Compliance to stringent quality standards, rigorous regulations passed by FDA and other global regulations are prime factors for adherence to quality document control processes by the industries worldwide
The cloud segment is likely to grow rapidly during the forecast period. The popularity of cloud technology among cost-sensitive customers and small and medium enterprises is anticipated to boost the adoption of cloud QMS solutions
The small and medium enterprise segment is predicted to and at the highest CAGR from 2020 to 2027. An increase in the number of providers and reduced costs of QMS solutions has pushed its adoption by SMEs. Moreover, the utility of QMS solutions has also helped in process optimization and reduction in overall product costs
The healthcare segment is likely to grow at a rapid pace during the forecast period, owing to rapid regulatory updates and innovation in medical devices vis-à-vis technology trends such as the IoT and analytics are likely to boost the utility of QMS solutions in the forthcoming years

Microwave Oven Market Worth $12.70 Billion By 2022

The global microwave oven market size is anticipated to reach USD 12.70 billion by 2022, according to a new report by Grand View Research, Inc., rising at a CAGR of 2.8% during the forecast period. Improving the standard of living of consumers, a growing number of nuclear families, and increasing demand for frozen and ready-to-eat food are some of the key factors stimulating market growth.

A growing number of working women and preoccupied schedules of people in urban cities are likely to fuel the demand for ovens. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchen. This may be a drawback for the residential appliance market. However, this trend is estimated to boost the culture of quick-service restaurants, cafes, and small eateries, which in turn will work in favor of the market.

Robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to stir up the demand for commercial appliances over the forecast period. In the case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting towards ready-to-eat and frozen food.

Macroeconomic factors such as growing population, rising disposable income of consumers, and increasing awareness of different cooking media such as microwave oven, grills, and barbeques are projected to impact the market positively.

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https://www.grandviewresearch.com/industry-analysis/microwave-oven-market

Further key findings from the report suggest:

The convection segment is poised to account for half of the overall market value by 2022
The grill microwave oven market is anticipated to be valued at around USD 4.50 billion by 2022
In 2016, North America was the leading revenue contributor in the market, with a valuation of around USD 3.5 billion
The household application segment accounted for a larger revenue share in 2016 and is likely to expand at a CAGR of around 3.0% over the forecast period
The key players in the market include Robert Bosch GmbH, Haier Group Corporation, Hobart, Hamilton Beach, Middleby Corporation Company, Whirlpool Corporation, and Sharp Corporation.

Bearings Market Size Worth $186.1 Billion By 2025

The global bearings market size is expected to reach USD 186.1 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 9.1% during the forecast period. Bearings are essential in almost every application that involves motion and they help minimize friction between different mechanical components in several industrial machinery and equipment, resulting in reduced energy consumption. Hence, this machine element finds application in all industries, ranging from automobiles, household appliances, and aerospace to industrial machinery, using machinery or related motor-driven linkages.

The bearings market is estimated to witness a considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency. Energy saving and bearings go hand-in-hand. The main objective of this element is saving energy by reducing friction, be it during the rotation of shafts of a transmission or the wheel of a vehicle. Additionally, rising demand for commercial vehicles is expected to catapult the demand from automotive sector across the world.

Technological advancements including smart bearings, development of advanced materials and lubricants, and integrating sensor units, are anticipated to provide high growth potential to the market. With the objective of enhancing performance, vendors are incorporating sensor units of the product. Sensor units help digital monitoring of rotation speed, axial movement, load carrying capacity acceleration, and deceleration. These units are presently being used in conveyors forklifts, road rollers, and electric motors. Furthermore, the integration of IoT capabilities facilitates manufacturers to monitor bearing operations constantly.

The market is mature with a dynamic demand closely related to the state of engineering industries and capital goods. Companies are offering integrated products that significantly decrease the number of bearings that go into an assembled product and reduce the overall cost of equipment. This in turn is also increasing the shelf-life and reliability of the product. Product manufacturers are increasingly investing in R&D to address the intensifying competition by providing innovative products.

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https://www.grandviewresearch.com/industry-analysis/bearings-market

The development of cost-effective wind energy generating product has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability
Roller bearings is anticipated to emerge as the largest product segment by 2025 and outpace ball bearings, ascribed to their ability to carry heavy loads and shock or impact loading
Railway and aerospace segment is estimated to witness the fastest CAGR of over 8.0% over the foreseeable years, due to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms to name a few
Asia Pacific is anticipated to witness the fastest CAGR of over 5.0% by 2025 attributed to the increased demand for fuel-efficient passenger vehicles, industrialization, and swift infrastructure development
The key competitors operating in the bearings market include SKF, NSK, Timken, Schaeffler, NTN, and JTEKT. Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product

GPS Market Size Worth $146.4 Billion By 2025

The global positioning systems (GPS) market size is anticipated to reach USD 146.4 billion by 2025, according to a new study by Grand View Research, Inc., exhibiting a CAGR of 18.4% during the forecast period. Burgeoning popularity of location-based services such as online food delivery and e-hailing services are projected to create significant demand for GPS-enabled devices over the forecast period. Furthermore, increasing use of GPS devices for navigation purposes in military aircraft and navy ships is poised to propel the market.

Global positioning systems are satellite-based navigation systems that provide real-time location of objects. GPS is widely used in a variety of civil applications, including road transportation, shipping, rail transportation, heavy vehicle guidance, surveying and mapping, social activities, and financial services. GPS transmitters use data to provide exact location of the object. Moreover, a GPS can work in any weather condition that makes it more versatile and reliable.

Among all application segments, the location-based services and road segments are expected to be significant revenue contributors in the global market during the forecast period owing to increasing deployment of GPS technology in smartphones, tablets, networking devices, IoT devices, and connected vehicles. Rising adoption of smartphones and growing consumer inclination towards digital services such as online retailing, cab services, and food at door steps are likely to spur the growth of the market during the forecast period.

In addition, increasing investments by large market players in developing countries such as China, India and Indonesia are expected to boost overall adoption through partnership with local suppliers. This will help the Asia Pacific market to gain traction over the coming years. However, lack of network infrastructure and lack of awareness of GPS technology among large population are estimated to hinder the growth of the market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/gps-market

Further key findings from the study suggest:

North America accounted for the largest market share in 2017 followed by Europe, owing to a large number of smartphone users, high demand for GPS devices for connected fleets, and presence of key market players
The Asia Pacific GPS market is expected to witness significant growth over the forecast period on account of increasing per capita expenditure, growing economy, and high adoption of smartphones
The location-based services application segment accounted for over 41.0% of the global GPS market in 2017 owing to a surge in the demand for GPS devices for navigation and travel, retail and real estate searches, geo-social networking, and mobile marketing and advertising purposes
Prominent market players are focusing on undertaking mergers and acquisitions with system integrators to increase their overall revenue share. Additionally, key players are continually investing in development of new products to gain a higher market share and increase their overall profitability
Military expenditure by governments of countries such as the U.S., Russia, China, India, and Saudi Arabia is projected to rise significantly, thus fueling the growth of the global GPS market over the forecast period.

Multiparameter Patient Monitoring Systems Market Worth $15.4 Billion By 2027

The global multiparameter patient monitoring systems market size is expected to reach USD 15.4 billion by 2027 registering a CAGR of 5.5%, according to a new report by Grand View Research, Inc. Rising health concerns and resultant need to constantly monitor the health parameters of patients, before and after surgery is creating demand for multiparameter patient monitoring systems.

The market growth is also supported by the increasing need for hospital transport, such as intrahospital or out-of-the-hospital transport. For special examination and therapy, hospitals require intrahospital transport, which calls for more continuous monitoring of vital signs including heart rate, blood pressure, blood oxygen saturation by pulse oximetry, and electrocardiography.

Healthcare providers are continually looking for innovative products to provide superior quality of care, which is also expected to drive the market. Mobile solutions, data integration low-acuity monitoring remain key trends to improve the cost efficiency of patient monitoring solutions. Key companies are introducing advanced products, such as integrated remote monitoring solutions with added features of greater connectivity through cloud technology and WiFi.

For instance, Radius-7 Pulse Co-Oximeters by Masimo Corp., which got U.S. FDA approval in March 2020. It is a wearable patient monitor with flexible functionality of WiFi, Bluetooth, and alarms.

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https://www.grandviewresearch.com/industry-analysis/multiparameter-patient-monitoring-systems-market

Further key findings from the study suggest:

The portable segment is anticipated to grow at the fastest CAGR of 6.1% from 2020 to 2027 due to growing home healthcare and easy mobility across different departments within the hospital
The hospital end-use segment led the market in 2019 due to high demand for modern healthcare facilities
North America held the maximum share of the global market in 2019 due to the availability of technologically advanced equipment and high quality of healthcare system
Asia Pacific is estimated to be the fastest-growing regional market during the forecast years due to increasing awareness about technologically advanced monitoring systems

Biological Safety Cabinets Market Size Worth 282.1 Million By 2027

The global biological safety cabinets market size is expected to reach USD 282.1 million by 2027, registering a CAGR of 7.5%, according to a new report by Grand View Research, Inc. Technological advancements due to a rise in laboratory procedures performed that play a crucial role in the safety of personnel, product, and environment, have propelled the market growth. The introduction of smart biosafety cabinets, such as PureLogic+ manufactured by Labconco Inc., with new features and adjustable accessories is playing a crucial role in the growth of the market.

To improve the safety, efficacy, and maintenance, NCBI launched a biological safety cabinet certification program in 2016, which certifies the design, construction, performance, and field parameters of the cabinets. There are various initiatives like the biosafety management programs taken up by the government and private companies that include complete investigation of the cabinets.

Factors like the favorable regulations, increasing prevalence of communicable diseases and rising number of pharmaceutical companies and their R&D activities are anticipated to boost the market growth. However, high product costs and introduction of alternative containment cabinets like the compounding isolators are likely to restrain the market growth.

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https://www.grandviewresearch.com/industry-analysis/biological-safety-cabinets-market

Further key findings from the study suggest:

Class II type emerged as the largest product segment in 2019 owing to great efficiency and result delivery of these products
The type A of Class II segment is projected to register the highest CAGR over the forecast period as they offer advantages, such as improved safety
Pharmaceuticals and biopharmaceutical companies had the highest market share due to focus on R&D and innovation by these companies
For instance, in 2018, NuAire launched LabGard ES NU 540, a series of advanced type II biological safety cabinets featuring AeroMax control system and HEPEX zero leak airflow system with dynamic air barrier that allows the technicians to work with precision and efficiency without the risk of contamination

Skin Resurfacing Market Size Worth $378.4 Million By 2027

The global skin resurfacing market size is expected to reach a value of USD 378.4 million by 2027, expanding at a CAGR of 7.2%, according to a new report by Grand View Research, Inc. High incidence of medical conditions such as acne in adolescents and a rapidly aging population is anticipated to drive the market.

High influence of social media and rise in usage of smartphones and photo editing applications is anticipated to fuel a desire for flawless and glowing face, thereby increasing the demand for the rejuvenation services. For instance, Facebook, YouTube, Instagram, and Pinterest are not only some of the most used social media platforms among cosmetic surgery patients, but also the most engaging platforms for information search regarding cosmetic procedures, before and after photographs, practice information, and beauty contests.

According to the article published by the NYP Holdings, Inc., nearly 28.0% of the females below 25 years of age, nearly 42.0% of the females between 25-34 years of age, and 54.0% of females between 35-44 years of age worry about aging. This rise in desire for eternal youthful appearance coupled with the rapidly aging population and unhealthy lifestyle is anticipated to fuel the need for corrective cosmetic treatments.

North America dominated the market and accounted for largest market share in 2019. This is attributed to rising disposable income and availability of technologically advanced medical devices in the region. In addition, presence of skilled professionals is also driving the market in the region. Asia Pacific is anticipated to witness highest CAGR over the forecast period. This is attributed to growth of medical tourism and availability of rejuvenation procedures at affordable costs in the region. In addition, increasing aging population and rising beauty consciousness is anticipated to drive the market in the region over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/skin-resurfacing-market

Further key findings from the report suggest:

Non-ablative lasers are anticipated to grow at a rapid pace over the forecast period due to the increasing demand for non- invasive procedures
Ablative held the largest market share in 2019 due to its application in a range of rejuvenating procedures
Laser skin resurfacing machines dominated the market in 2019. This can be attributed to the technological advancements in these machines
The wrinkles segment is anticipated to witness lucrative growth over the forecast period owing to rise in adoption of unhealthy lifestyle and sun exposure leading to premature aging
Others end-use segment, which mainly includes ambulatory surgical centers, beauty salons, and medical spas held significant market share in 2019
North America dominated the market in 2019 owing to the presence of skilled professionals and the availability of technologically advanced products
In Asia Pacific, the market is anticipated to witness a remunerative growth over the forecast period owing to the availability of cosmetic procedures at a relatively low cost.

Dental Biomaterials Market Size Worth $12.3 Billion By 2027

The global dental biomaterials market size is expected to reach USD 12.3 billion by 2027, expanding at a CAGR of 6.2%, according to a new report by Grand View Research, Inc. Rising prevalence of tooth disorder is one of the major factors contributing to market growth. Dental biomaterials include biocompatible synthetic materials and natural tissues to restore tooth decay, damage, and fractures problems. As the geriatric population worldwide affected by tooth decay is huge despite significant advances in tooth restoration and caries prevention, the rising incidence of tooth disorder continues to pose a considerable burden to healthcare. In such cases, biological materials play an important role in the restoration of the damaged tooth structure.

Also, increasing dental tourism and rising disposable income in developing countries are some of the major factors responsible for market growth during the assessment period. Further, due to the rising penetration of tooth implants, various companies are shifting their focus on research and development of dental biological materials. Also, the growing geriatric population and development in the field are some of the major factors contributing to the growth of the market.

North America dominated the market and accounted for about 36.0% of the market share in 2019. Growing government expenditure on oral health and increasing adoption of dental biological materials to produce implants is expected to be one of the major factors contributing to market growth in this region.

Whereas, Asia Pacific is anticipated to witness rapid growth during the forecast period due to improved regulatory framework, and an increase in the number of hospitals and clinics dealing in tooth disorders.This can be attributed to increased opportunities for players, especially in Japan, China, and India.

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https://www.grandviewresearch.com/industry-analysis/dental-biomaterials-market

Further key findings from the report suggest:

The ceramic biomaterial segment dominated the market with revenue share of 36.0% in 2019 due to the rising penetration of tooth implants and the increasing use of ceramic biological material in dentistry
The composite biomaterials segment is anticipated to witness the highest CAGR of 6.7% over the forecast period due to recent technological development
North America dominated the market in 2019. Growing government expenditure on oral health is one of the major factors driving the market in the region
In Asia Pacific, the market is projected to witness the fastest growth during the forecast period owing to the increasing incidence of tooth disorder in the region.

3D CAD Software Market Worth $13.04 Billion By 2025

The global 3d cad software market size is projected to reach USD 13.04 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.2% during the forecast period. Introduction of 3D CAD software has revolutionized the way end-use industries design products.

CAD has witnessed a high adoption owing to improved and continuously changing environment in various industries such as healthcare, construction, manufacturing, and automotive. The software enables end users to create three-dimensional models for representing a particular part or system of the entire product. It also helps in eliminating risk of producing faulty parts, thereby making manufacturing process more cost-effective.

Industries are transitioning from 2D CAD to 3D CAD as software simplifies complex design structure by offering choices between predefined and customized designs. Furthermore, growing transition from on premise to cloud along with changes in consumer preferences and requirements is poised to work in favor of the market.

Burgeoning trend of integrating artificial intelligence (AI) with 3D CAD software has been improving 3D modeling experience by identifying design errors. Presently, only a limited number of players are observed incorporating AI trend into their product portfolio, which has provided ample opportunities for companies to introduce AI-based solutions.

Rising preference among end users for customized solutions is also likely to escalate the growth of the market. Customized and personalized solutions have enabled key players to incorporate this feature into their product portfolio. Key players have already capitalized on designing industry-specific solutions to cater to needs of clients.

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https://www.grandviewresearch.com/industry-analysis/3d-cad-software-market

Further key findings from the report suggest:

The cloud-based segment is expected to witness the fastest growth over the forecast period as the software provides flexibility in design and requires less infrastructure cost
The healthcare segment is estimated to post a CAGR of over 8.0% during the forecast period. 3D CAD software has witnessed increased adoption in the healthcare sector as it helps assist doctors in attempting different methods and strategies to determine the most optimal approach for treatments
Asia Pacific is anticipated to progress at the highest CAGR over the forecast period owing to its high demand in the construction and manufacturing sectors
Autodesk, Inc., Dassault Systemes, PTC, Inc., and Siemens PLM Software, Inc. are some of the prominent players in the 3D CAD software market
Companies are focusing on providing updated products that have additional capabilities of augmented reality (AR), Internet of Things (IoT), and other innovative technologies.