U.S. Automotive Aftermarket Size Worth $86.2 Billion By 2025

The U.S. automotive aftermarket size is expected to reach USD 86.2 billion by 2025, registering a 1.8% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc. The market is expected to grow owing to the rising adoption of automotive technologies such as exhaust and safety technologies coupled with other aspects influencing vehicular performance. The market is estimated to remain innovation-led with the introduction of new chemicals and metals that provide cost-efficiency and weight reduction in automobiles. In addition, the increasing vehicle parc and vehicle age in the U.S. are expected to contribute to the growing demand for replacement parts, thus driving market growth in the country.

Rising disposable income in the U.S. is creating a positive growth outlook for the sales of passenger cars. The increasing demand for aftermarket parts is directly proportional to the growing sales of passenger cars. Moreover, factors such as developing infrastructure and increasing adoption of modern lifestyle across the country are contributing to the growth of automotive aftermarket. Technological proliferation and high investments in R&D by automakers are expected to further drive demand for automotive aftermarket components over the forecast period. Furthermore, increasing trade activities of goods and materials via road transportation are expected to fuel the demand for heavy commercial vehicles. This, in turn, is likely to result in the high demand for products such as tires, towing, wheels, and other miscellaneous accessories, thereby contributing to the market growth in future.

Efforts taken by vendors to make aftermarket products available in adequate quantities and improve the quality of recycled products have contributed to the high demand for alternative parts such as engines; door assemblies; transmissions; sheet metal products such as fenders, trunk lids, and hoods; bumpers; and lights assemblies. In addition, maintaining a high inventory level and wide distribution network allows higher fulfillment rates, which is also boosting the sales of alternative parts. However, the increasing adoption of hybrid and electric vehicles is hampering the growth opportunities for automotive aftermarket components, mainly exhaust components. As a result, the threat of substitutes for aftermarket parts is expected to remain high over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/us-automotive-aftermarket

Further key findings from the report suggest:

  • The rise in sales of automobiles, increased purchasing power, and improved standard of living are expected to drive growth for the automotive aftermarket industry.
  • Increasing consumer awareness regarding environment protection and the use of environment-friendly products with minimum carbon footprint deliver positive growth prospects for the market
  • The tire segment is anticipated to dominate the market by 2025 on account of frequent changing of tires in comparison to their automotive component counterparts
  • The automotive aftermarket is shifting toward the automation of various functions and processes as automation increases accuracy, enhances efficiency, improves workplace safety, and reduces human errors
  • The trend of combining Industry 4.0 with information technology and operational technology has resulted in a landscape governed by supply chain digitalization, creating a sustainable impact on the automotive aftermarket industry

Zika Virus Testing Market Size Worth $580.4 Million By 2027

The global zika virus testing market size is expected to reach USD 580.4 million by 2027, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.6% during the forecast period. Zika virus outbreak in 2016 contributed to the rise in response strategies and diagnostic surveillance activities. Widespread incidence of the disease in 2016 was mostly a result of travel-based viral transmission. The recently drawn correlation between Zika virus infection and microcephaly in newborns is further stoking growth of the market. 

Spiraling demand for Zika Virus Testing stems from government-led preparedness programs and support from international organizations such as UNICEF. Stockpiling and emergency preparedness initiatives focus on endemic regions as well as immunologically naïve population subsets in the Asian and African markets, which hold high threat of future outbreaks. These developing regions, currently not classified as endemic, are host to temperature changes, humidity, and precipitation as well as reported vector presence that cumulatively provide a supportive habitat for the causative vector, Aedes aegypti mosquitoes.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/zika-virus-testing-market

Further key findings from the report suggest:

  • NAAT and serological segments in the Zika Virus Testing market held nearly equal market share in 2016. However, the former was preferred for its cost effectiveness in analyzing high volume of tests during the epidemic
  • Serological tests are gaining preference as they can provide differential diagnosis and are performed to detect late-stage infections
  • In 2016, the U.S. states and territories dominated the market in terms of revenue. Increasing blood donation screening using individual donor NAAT tests to prevent transfusion-related disease transmission is one of key factors contributing to the market.
  • Latin America followed in terms of market share as it witnessed more than 50% of the globally recorded disease incidence in 2016. Brazil’s National Development Bank announced funding worth USD 136.6 million, which will drive disease surveillance activities with improved rapid tests to fight zika virus infection in the country
  • UNICEF awarded long-term arrangement contracts, effective until 2019, to Chembio Diagnostic Systems, Inc. and SD Biosensors, Inc. for the supply of ZIKV diagnostics
  • In 2016, Quest Diagnostics, Inc.; Roche; and Hologic were among the leading market players with FDA-approved diagnostics under emergency use authorization

Anastomosis Devices Market Size Worth $24.84 Million By 2025

The global anastomosis devices market size is projected to reach USD 24.84 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.2% during the forecast period. Rising prevalence of cardiovascular and gastrointestinal diseases is poised to propel the demand for anastomosis devices in the coming years.

According to WHO, 17.7 million people died from CVD in 2015, which represented 31.0% of all deaths in the world. It also states that 80% of these deaths are due to strokes and heart attacks. CHD/CAD (Coronary Heart/Artery Disease) is the most common type of heart disease and around 370,000 people die annually in the U.S. Surgery is crucial for the treatment of such life-threatening diseases, thereby increasing the adoption of anastomosis devices in these surgeries.

Lifestyle associated changes, medical procedures, and/or drug therapy can be effectively used to prevent or treat CAD in most people. Clearly, invasive cardiac surgery is not the first-line of treatment for patients, where less invasive options such as angioplasty and stenting are feasible. Nevertheless, for many patients with advanced or diffuse diseases, surgery remains the best option and anastomosis devices are widely used in such surgeries. Swelling demand for CABG, increasing geriatric population, reduced risk associated with surgery, and growing number of people who need re-operations after 10 to 12 years from their first bypass surgery.

Introduction of technologically advanced products with associated advantages such as less exposure to anesthesia, reduced operating time, reduced chances of blood leaks, and convenience are among factors likely to stoke growth of the market. Moreover, presence of favorable reimbursement structure in developed countries is estimated to bolster the growth of the market. For instance, Medicare policies in the U.S. offer reimbursement for CABG and colorectal surgery.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/anastomosis-devices-market

Further key findings from the report suggest:

  • Disposable anastomotic devices will continue to dominate the market until 2025, commanding just over 88.0% of the overall market. The growth of the segment can be attributed to wide product offering of various market players
  • Reusable anastomotic devices are anticipated to exhibit a CAGR of about 6.0% over the forecast period owing to increasing need to reduce biomedical waste
  • On the basis of application, cardiovascular surgery held the largest share of the market in 2016 owing to rising prevalence of CHD and increasing number of CABG procedures around the globe
  • North America was at the forefront in the global arena owing to the presence of well-structured reimbursement policies, widening base of target population, and local presence of a large number of key players
  • Asia Pacific is expected to grow at a lucrative rate of 6.1% during the forecast period owing to growing geriatric population, rising incidence of CVD, rapid developments in the healthcare sector, and increasing disposable income
  • Key market players are engaged in various strategies such as distribution agreements to augment their market penetration. For instance, in February 2016, Maquet Medical Systems USA entered into a distribution agreement with BIOTRONIK to distribute the latter’s peripheral vascular devices in the U.S.

Single-Cell Genome Sequencing Market Worth $2.5 Billion By 2025

The global single-cell genome sequencing market size is expected to reach USD 2.49 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 14.64% during the forecast period. Advancements in the field of single-cell analysis are anticipated to boost the growth of the market in the coming years.

Moreover, active participation and contribution of market players toward product upgradation are playing an important role in the growth of the market. Increasing number of collaborations and strategic alliances between companies are fostering the development of a collaborative portfolio in the system.

Moreover, emergence of next-generation sequencing (NGS) has helped the market gain tremendous traction over the past few years. Earlier, single-cell genome sequencing market was dominated by PCR and microarray technologies. However, qPCR and NGS are increasingly emerging as the preferred technologies.

Furthermore, rising number of single-cell genome sequencing centers & associated facilities worldwide is fostering growth prospects. The main objective of such entities is to develop novel single-cell genome sequencing-based applications and methods. These centers are also playing a major role in introducing advanced tools & instruments for scientific communities of various regions. This, in turn, is helping augmenting growth opportunities for the market.

In addition, public-private collaborations among governments, companies, and research institutions in the space are expected to promote more research initiatives. Various funding grants by NIH and private players such as Mission Bio are escalating the growth of the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/single-cell-genome-sequencing-market

Further Key Findings From the Report Suggest:

  • Instruments are estimated to account for the leading share in the market throughout the forecast period owing to optimal availability of products for single-cell sequencing kits. The segment is poised to command about 58.0% of the overall revenue
  • NGS (Next-Generation Sequencing) is the most promising technology segment owing to the launch of integrated & advanced platforms for single-cell analysis. The segment is projected to expand at a CAGR of 15.72% during the forecast period
  • Circulating cells will hold the largest share throughout the forecast period owing to intensive research studies on circulating tumor cells in the area of cancer progressions and treatment
  • Academic & research laboratories will be the dominant revenue contributor during the same period. The dominance can be attributed to presence of established genomic centers and their research initiatives in the space
  • North America dominated the market owing to well-established administration support, investigations, and presence of substantial number of regional players
  • Asia Pacific region is expected to exhibit the fastest growth over the forecast period owing to active participation of players, extensive research, and favorable government support
  • Major players include F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific, Inc.; QIAGEN; Bio-Rad Laboratories; 10x Genomics; Novogene; Fludigim; BGI; Illumina, Inc.; Oxford Nanopore Technologies; and Pacific Biosciences. Companies are collaborating with private & public entities as well as academic institutions to accelerate advancements in the single-cell genome sequencing market. 

Opioids Market Size Worth $29.4 Billion By 2026

The global opioids market size is estimated to reach USD 29.4 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 1.8% over the forecast period. Growing geriatric population, coupled with increasing focus on palliative care, is estimated to drive the market. Moreover, increasing geographical expansions by market players is expected to fuel growth.

Rising prevalence of disease conditions with chronic pain, such as cancer, lower back pain, arthritis, and fibromyalgia, is driving the opioids market. Substantial rise in road accidents and trauma, coupled with constantly increasing cases of surgical procedures, is also driving demand for opioid-based pain management solutions.

On the basis of product, ER was the dominant segment in 2018 owing to its high usage in chronic pain management. However, the abuse and misuse of these drugs have resulted in a serious public health crisis.

North America led the market in 2018 with a share of 55.5% in terms of revenue. One of the major reasons for its dominance is rising geriatric population with terminal conditions, such as rheumatoid arthritis. However, opioid abuse in U.S. has been rising at an alarming rate. Overdose has killed over 28,000 people in 2014 alone. Almost half of those deaths were caused by prescription drugs. Hence, drug abuse has been declared a “public health emergency” in U.S. and this is likely to limit market growth in North America.

According to the federal government, around 4,000 Canadians died due to opioid-related overdose in 2017, which is a 34% jump from the previous year. Globally, Canadians are one of the highest users of prescription opioids and this rate, along with associated deaths and hospital visits, has been growing rapidly. To combat this, Health Canada aims to restrict the marketing of such drugs.

The federal government is calling on pharmaceutical companies to stop marketing opioids. For instance, Purdue Pharma has stopped marketing its opioids in Canada, thereby limiting the growth of the North America market. The company has, in fact, shifted its focus to other regions, such as Asia Pacific, to retain its hold in the market. APAC is likely to witness the fastest growth in the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/opioids-market

Further key findings from the study suggest:

  • Extended release was the largest product segment in 2018 due to its high usage in chronic pain management
  • Cancer pain was the largest pain relief segment in 2018 owing to global increase in prevalence of cancer
  • North America was the largest regional market in 2018, driven by presence of key players and highest use of prescription opioids
  • Europe was the second-largest regional market in 2018, primarily fueled by growing geriatric population
  • Asia Pacific is expected to witness the fastest growth over the forecast period due to increase in geriatric population, coupled with shifting focus of key players towards this region in order to strengthen their position
  • Some of the key players are Purdue Pharma L.P; West-Ward Pharmaceuticals Corporation; Allergan; Pfizer, Inc.; Janssen Pharmaceuticals, Inc.; Egalet Corporation; and Sun Pharmaceutical Industries Limited. Most key players are focusing on entering untapped regions and expanding their product portfolios.

North America MUV Rental Market Size Worth $7.76 Billion By 2025

The North America MUV rental market size is projected to reach USD 7.76 billion by 2025, registering a CAGR of 4.0% from 2019 to 2025, according to a new report by Grand View Research, Inc. A combination of factors such as an upsurge in the number of air travelers opting for vehicle rental services and the growing adoption of renting recreational vehicles for leisure purposes have fueled the regional market growth. Changing preferences of demographics, regarding vehicle ownership, are expected to have a positive influence on the market growth over the forecast period.

The increase in number of internet users has encouraged numerous local and global players in the MUV rental marketplace to have an international presence through their online website and mobile applications. The regional MUV rental market is expected to undergo a transformation from the conventional rental business operations to innovative business models. The North America market has witnessed a significant growth over the past few years owing to continuous economic growth. Numerous states in the U.S. are establishing tie-ups with van rental companies for providing transport facilities from airports to the city centers and other locations.

The key strategies adopted by the prominent players to acquire a higher market share include replacement of older fleet with newer ones, expansion of their operational reach, and adoption of a competitive pricing model. Major companies across the region are implementing a mix of operating models, including company owned stores, franchise, and agencies. With the advent of state-of-the-art technologies, vehicle renting has become a preferred option for travelers. Various players have started introducing mobile apps for customers as these apps provide benefits such as easy vehicle tracking and faster payment & booking process.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-muv-rental-market

Further key findings from the report suggest:

  • A majority of service providers in developed countries such as the U.S. are increasingly implementing advanced technology solutions to streamline the vehicle renting/booking processes
  • The demand across the leisure group is high during the peak seasons. Prominent players are providing premium services and offering discounts & packages to frequent travelers
  • The trend of renting camper vans or Recreational Vehicles (RVs) has also increased in recent years. Tourists mainly prefer renting RVs for traveling to remote locations or for camping purposes
  • Some of the key players in the north america muv rental market include Enterprise Holdings, Inc.; Dollar Rent A Car, Inc.; Budget Rent A Car System, Inc.; and Sixt SE.

Asset Performance Management Market Worth $24.4 Billion By 2025

The global asset performance management market size is estimated to reach USD 24,401.62 million by 2025, exhibiting a CAGR of 9.15% from 2019 to 2025, according to the new report by Grand View Research, Inc. The growing adoption of dedicated systems for managing the performance of assets to achieve operational excellence is expected to fuel the market growth. Managing the performance of assets can help companies in optimizing the usage and maintenance of their operational assets, such as plants, equipment, and infrastructure. Some of the assets that are actively monitored by companies using dedicated systems include heavy machinery, heavy equipment, turbine engines, and power transformers.

A system deployed for managing the performance of assets typically includes various solutions, such as asset strategy and risk management, predictive asset management, reliability-centered maintenance, and condition-based maintenance, among others. Incumbents of various end-use industries, including energy & utilities, mining & metal, oil & gas, and manufacturing, utilize these solutions depending on their needs and preferences. The manufacturing segment held a significant market share in 2018 and is expected to account for a sizeable share over the forecast period because there are several small and large manufacturing plants across the globe and all of them are expected to adopt solutions to manage the performance of their assets.

The energy & utilities segment held the largest asset performance management (APM) market share in 2018 owing to a large number of energy & utility companies that are actively investing in systems to manage the performance of their assets. For instance, Tata Power of India is leveraging AVEVA Group plc’s PRiSM Predictive Asset Analytics for avoiding failures of assets and reducing equipment downtime. The system has benefitted Tata Power in the form of higher reliability and enhanced performance of critical assets. Additionally, predictive analysis enabled by the system has also helped the company in controlling maintenance costs.

Companies having a high degree of reliance on the capability of their assets have to often confront unplanned downtimes stemming from failures of assets, ineffective data gathering approaches while monitoring assets, hardships in realizing operational capabilities of assets, inability to determine unforeseeable risks, and ineffective maintenance scheduling, which can potentially impact their profits goals. Managing the performance of assets can help such companies is reducing the instances of unplanned downtimes. Cloud-based systems for managing the performance of assets are particularly allowing companies to manage their assets cost-effectively. The launch of IIoT-compatible systems and the increasing adoption of cloud solutions are expected to be among the crucial factors driving the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/asset-performance-management-market

Further key findings from the study suggest:

  • The rapid industrial shift towards digitalization of monitoring and maintenance activities is prompting companies to invest aggressively in digital solutions to manage the performance of assets
  • Use of advanced processes and tools, such as regression analysis, neural network analysis, and Monte Carlo simulation, in managing the performance of assets is driving the growth of the predictive asset management segment
  • The on-premises segment is projected to dominate the asset performance management market over the forecast period owing to the growing preference for on-premises customized systems
  • The hosted segment is expected to register a CAGR of more than 11% from 2019 to 2025. The public cloud segment held a market share of more than 60% in 2018 and is expected to maintain its dominance over the forecast period
  • The predictive asset management segment is expected to register a CAGR exceeding 11% from 2019 to 2025 as the approach shifts from predictive to preventive

Big Data as a Service Market Size Worth $51.9 Billion By 2025

The global big data as a service (BDaaS) market is estimated to reach USD 51.9 billion by 2025, registering a CAGR of 38.7% over the forecast period, according to a new study by Grand View Research, Inc. The combination of big data analytics technologies and cloud computing platforms has led to the development of Big Data as a Service or BDaaS. BDaaS offers analyses of large and complex datasets over the Internet or as cloud-hosted services. The increasing requirement of structured data for analyses, which helps organizations achieve targets, coupled with the growing number of social media platforms and users accessing accessible multimedia content on the Internet, such as videos, audio, and text, are anticipated to drive the market growth over the forecast period.

Data-Driven Decision Making (DDDM) helps in addressing the problem of unstructured data analysis and enables organizations to make more informed decisions with transparency and accountability. It also offers increased capacity to scale changes and flexibility in modeling change scenarios, among others. For instance, Google has created a People Analytics Department that supports the organization in making decisions with fact-based data. In this department, Google has created a group called Information Lab, which includes social scientists who conduct innovative research that has changed the organizational practice within the company.

The growing adoption of social media analytics in BDaaS to monitor consumer preferences and offer personalization insights is anticipated to propel market growth over the forecast period. Moreover, the increasing importance of sentiment analysis has also encouraged enterprises to integrate social media into their business processes. This has resulted in a large amount of data being stored by organizations, which in turn, is expected to propel market growth over the forecast period.

Key market players are focusing on mergers & acquisitions to enhance their regional presence and target new customers across the globe. However, increasing privacy concerns coupled with the rapidly rising purchase costs and costs for installation, deployment, and maintenance may hamper the market over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/big-data-as-a-service-bdaas-market

Further key findings from the study suggest:

  • The global market is anticipated to witness substantial growth owing to the increasing requirement of structured data for analysis and long-term data retention over the forecast period
  • The hybrid cloud segment is expected to register a CAGR exceeding 40% over the forecast period owing to benefits it provides in terms of cost efficiency, scalability, flexibility, and security
  • Hadoop-as-a-Service emerged as the dominant segment in 2018 owing to the large number of companies frequently accessing virtual storage and analysis of data on the cloud across the globe
  • North America captured a significant share in the global BDaaS market owing to the increasing government funding to support big data projects in the U.S. and high penetration of e-commerce in the region
  • The APAC market is estimated to showcase significant growth over the forecast period owing to the high rate of penetration of smartphones and internet users in Brazil and Mexico
  • Key market players operating in the Big Data as a Service market, including Amazon Inc., IBM Corporation, and Dell Inc., are focused on expanding their market presence and targeting new customers through mergers and acquisitions.

Brazed Plate Heat Exchangers Market Size Worth $1.4 Billion By 2025

The global brazed plate heat exchangers market size is anticipated to be valued at USD 1.4 billion by 2025, accelerating at a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising urbanization and infrastructure developments have resulted in an increased demand for heat management systems. As a result, the demand for this market is likely to boost over the forecast period.

The small footprint of brazed plate heat exchangers has resulted in their high adoption rate in industries including HVAC, chemical, petrochemical, oil & gas, power generation, and pharmaceuticals. These exchangers offer low maintenance cost and are energy efficient. Increasing demand for energy-saving products is expected to further boost the market growth over the forecast period.

Single circuit segment was valued at USD 298.3 million in 2018 and it is expected to reach USD 470.8 million by 2025. Single circuit brazed plate heat exchangers are used for water heating applications and are highly utilized for the construction of heat pumps. Multi-circuit was the dominant segment in 2018, valued at USD 560.8 million, and it is expected to reach USD 950.0 million over the forecast period. Multi-circuit brazed plate heat exchangers are majorly used in industries with high production levels.

HVAC application segment was valued at USD 209.1 million in 2018 and is expected to be valued at USD 377.1 million over the forecast period. Brazed plate heat exchangers are highly adopted by the HVAC industry owing to their small footprint and energy efficiency. Increasing construction of residential and commercial buildings has resulted in an increased demand for HVAC systems, which, in turn, has triggered the product demand.

The U.S. is expected to be the largest market by 2025 owing to an increase in the construction of residential and commercial buildings and increasing establishment of industries. Germany is expected to be the second-largest market over the forecast period owing to high rate of infrastructural development. Increasing investments in infrastructure development in Asia Pacific region are expected to boost market growth in the region over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/brazed-plate-heat-exchangers-market

Further key findings from the report suggest:

  • The U.S. market, in terms of revenue, is projected to progress at a rate of 8.5% over the forecast period
  • German market was valued at USD 113.3 million in 2018 and is expected to reach USD 188.3 million over the forecast period
  • Industrial application segment was valued at USD 219.5 million in 2018 and it is expected to reach USD 336.8 million by 2025 with the increasing product demand in this segment
  • As of 2018, India was among the largest markets in Asia Pacific and is expected to reach USD 125.8 million over the forecast period.