MRI Market Size Worth $8.18 Billion By 2027

The global magnetic resonance imaging market size is expected to reach USD 8.18 billion by 2027, registering a revenue-based CAGR of 5.9% during the forecast period, according to Grand View Research, Inc. Rising prevalence of chronic diseases coupled with increasing demand for early diagnostic techniques is projected to drive the growth. In addition, growing adoption of less invasive diagnostic procedures is contributing to the magnetic resonance imaging (MRI) market growth. Moreover, increasing number of clinical trials to understand the effectiveness and efficiency of MRI machines in various clinical applications is expected to boost the growth.

End-users, such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T. Growing number of research studies will help unlock the potential usage and advantages of high field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of advance coil required for these high field machines. Therefore, the development of advance coils to expand the application of 7T MRI machines is expected to propel the growth during the forecast period.

Key market players are adopting various strategies, such as mergers and acquisitions, collaborations, and partnerships to gain competitive edge. For instance, Aurora Imaging Technology entered into a distribution agreement with Sumec Group Corporation. Under this distribution agreement, the latter will distribute MRI portfolio of Aurora Imaging Technology in China. This in turn is helping both the companies in geographical expansion.

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Further key findings from the report suggest:

Open system is anticipated to be the fastest growing segment during the forecast period due to its efficiency to accommodate patients of all sizes without them feeling claustrophobic
Magnetic resonance imaging (MRI) market for neurological and brain disorders held the dominant market share in 2019, largely due to high prevalence of neurological conditions and demand for less invasive diagnostic procedure
The high field MRI segment is expected to experience fastest growth over the forecast period, largely due to efficiency of the field strength to provide detailed diagnostic images
Ambulatory Surgical Centers (ASC) are expected to exhibit the fastest CAGR during the forecast period. Government initiatives to improve primary care is one of the major factor impacting the growth
In 2019, North America dominated the global MRI market in terms of revenue, owing to continuous research activities and high adoption of advanced techniques
Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period, largely due to a rise in clinical studies for high field MRI machines

Digital Pathology Market Worth $1.86 Billion By 2027

The global digital pathology market size is expected to reach USD 1.86 billion by 2027, registering a CAGR of 11.8% over the forecast period, according to a new report published by Grand View Research, Inc. Increasing prevalence of chronic diseases triggers the demand for advanced diagnostics, which is expected to drive the market growth. Growing economic stability and awareness pertaining to the benefits of using Computer-Aided Diagnostics (CAD) is further contributing to the growth.

Technological advancements, such as digital imaging, computerization, robotic light microscopy, and multiple fiber optic communications are some of the key factors driving the adoption of digital pathology. In addition, the introduction of cloud-based technology enabling storage of digital slides coupled with secure access to pathologists is expected to serve as a potential growth driver for the market.

Digital pathology has an important role in companion diagnostics and drug development pipeline, including molecular biology, biobanking, molecular tissue profiling, and tissue microarray analysis. Increasing demand for high-quality tissue samples in tissue-based biomarker research is expected to propel the adoption of the technology over the forecast period.

The market is expected to witness intense competition in near future owing to the rising adoption of rigorous strategies by the market players to sustain competition. For instance; whole slide imaging system manufacturers focus on obtaining premarket approval for diagnostic digital systems to capture greater revenue share.

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Further Key Findings From the Report Suggest:

Devices held the dominant market share in 2019 owing to increased use in academic research
The rising implementation of slide management system in stratified medicine and tissue-based biomarker research is one of the key contributing factors for the dominance of this technology
The software segment is expected to witness lucrative growth in the near future as the product assists in faster diagnosis and synchronization of patient data, where healthcare professionals can remotely access this information
Digital pathology is increasingly used in academic research owing to various benefits, such as cost-effectiveness and rapid results
The disease diagnosis segment is expected to witness lucrative growth over the forecast period owing to the increasing prevalence of cancer and demand for noble diagnosis techniques
The availability of unified platforms for workflows in pathology is anticipated to boost the usage of computer-aided imaging technology in academic research, which is anticipated to boost the segment growth
Hospital led the end-use segment in 2019 owing to the increasing adoption of digital pathology
The digital pathology market is expected to remain innovation-led, with frequent acquisitions and strategic alliances. New product development and well-established distribution channels are key to the competitive advantage of leading players
An increasing usage rate of the digital imaging systems to facilitate faster diagnosis, particularly of chronic diseases; the increased uptake of these products serves as the key driver of this market

Africa Roaming Tariff Market Worth $2.5 Billion By 2027

The Africa roaming tariff market size is anticipated to reach USD 2.5 billion by 2027, growing at a CAGR of 5.5%, according to a study conducted by Grand View Research, Inc. Roaming tariff are the charges incurred by the operator in return of roaming services, that allow the customers to use communication devices outside the geographical coverage area provided by the network operator. Increasing count of mobile phone users in urban as well as rural regions across Africa is expected to drive the market. Moreover, increasing international tourism is projected to escalate market growth in the forecast period.

Rising number of smartphone and internet users is also expected to bolster market growth in the region. Moreover, the adoption of 3G, 4G, and 5G technologies in Africa is expected to increase in the coming years, which is also projected to fuel market growth. For instance, according to the GSM Association (GSMA), the count of unique mobile subscribers will increase by up to 623 million in 2025 from 456 million in 2018. Additionally, mobile internet users are expected to have a 39.0% penetration rate and can reach up to 483 million subscribers by the end of 2025.

According to the GSM Association, Africa is amongst the rapidly growing mobile market across the globe. GSMA also states that the count of international travelers is increasing in the region at a larger extent, which in turn escalates market growth. Rising technological awareness among users has enabled service providers to introduce technological advancements, thereby resulting in market growth. Moreover, growing population in the region has paved way for growth of subscriber base of mobile phone operators, which is one of the additional factors expected to fuel the growth of the market in the region.

Technical barriers such as interoperability, due to the use of different GSM/3G spectrum, can restrict many low-cost handsets from roaming, and the network coverage, mainly 3G continues to remain underdeveloped as operators continue to upgrade to new technology and roll out the older. Whereas, the introduction of roaming regulations such as, pricing regulations, taxation related policies are anticipated to hinder market growth. However, substantial investments from operators in order to provide consistent services to users are projected to propel market growth. Similarly, significant investments from communication service providers are also expected to reduce the intensity of the aforementioned restraints, thereby positively impacting the market in the region.

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https://www.grandviewresearch.com/industry-analysis/africa-roaming-tariff-market

Further key findings from the study suggest:

The national roaming segment is expected to continue its dominance over the forecast period owing to the demographic bulge. Growing count of young consumers in the region also escalates the growth of the segment, as the youth is more leaned towards usage of smartphones and internet in the region
International roaming segment is expected to witness a highest CAGR from 2020 to 2027. This is attributed to rising international tourism
Wholesale roaming is expected to account for revenue share of over USD 2.0 billion by 2027 owing to increasing adoption of service in the medium and large enterprises in the region
The voice service type of the Africa roaming tariff market is the major shareholder amid other services such as data, and SMS. The voice service market is expected to exceed USD 1,200 million by the end of 2027
The key players operating in the market are America Movil, AT&T Inc., Bharti Airtel Ltd., China Mobile Ltd, Deutsche Telekom AG, Digicel Group and others

Point Of Sale Software Market Size Worth $18.1 Billion By 2027

The global point of sale software market size is expected to reach USD 18.1 billion by 2027, registering a CAGR of 10.1% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth owing to increasing need for compatible software for point of sale system’s functioning. Point-of-Sale (POS) software facilitates functions such as inventory management, authorize cards payment, collect signatures and e-mail receipts, and manage employees and business operations to minimize human intervention and ensure smooth running of all processes.

POS software is used across different end-user industries for processing payments, bookkeeping, invoicing, tracking orders, and other functions. However, the functionality may significantly vary depending upon the end-user industry requirement. For instance, the restaurant POS software requires specific features such as order, inventory, table management, and employee scheduling to meet the needs of different restaurant types, which is not needed in retail or healthcare. Hence, increasing demand for customized POS software in restaurant, retail, hospitality, healthcare, entertainment business, and other industries is expected to boost the point of sale software market over the forecast period.

POS software for a fixed POS terminal has been used for decades and is trusted across all large business sectors due to its ability to provide robust business functions and management of inventory, loyalty programs and gift cards, credit/debit card payment, employee attendance, and cash drawer for large enterprises. While small and medium enterprises have largely opted for mobile POS software owing to its convenience in business to allow credit or debit card payments virtually as well as at any location on-the-go.

Point of sale system has become an integral part of the small and medium business environment to process sales securely, carry out the administrative task, and provide a seamless customer experience. Substantial growth of this segment is attributed to increasing adoption of cloud-based mobile POS solution by the small businesses having software packages such as payment processing, inventory management, payroll, and accounting to manage their day to day business operations.

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https://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-software-market

Further key findings from the report suggest:

The on-premise segment dominated the market in 2019 in terms of revenue and is estimated to reach USD 11.4 billion by 2027. High demand for on-premise deployment is due to data security concerns, as the customer data can be vulnerable to cyber-attack when exposed to third party or unknown sources
The mobile POS segment is anticipated to witness the highest CAGR of 13.2% over the forecast period owing to increasing demand in restaurant and retail for quick payment and portability
The market in the Asia Pacific region is expected to register the highest CAGR over the forecast period owing to growing demand for advanced features across end-use industries including retail and restaurant in countries such as China and India
Some of the major players in the point of sale software market are NCR Corporation; Revel Systems; Oracle; Agilysys, Inc.; Clover Network, Inc.; Diebold Nixdorf, Incorporated; Epicor Software Corporation; Ingenico Group; Intuit, Inc.; Lightspeed; PAR Technology Corp.; SAP; Toshiba Tec Corporation; ShopKeep; and Toast, Inc.

Interactive Tables Market Size Worth $1.5 Billion By 2027

The global interactive tables market size is expected to reach USD 1.5 billion by 2027, registering a CAGR of 7.2% over the forecast period, according to a new study by Grand View Research, Inc. Implementation of multi-touch technology in the education sector is expected to drive the market over the forecast period. Growing demand for digital classrooms that allow numerous students to work together for cooperative learning is expected to boost market growth.

Interactive tables are also extensively used in trade shows and exhibitions that require the display to be clear as well as allow multi-touch. 32 to 65 inch tables are witnessing increased demand among the exhibitions as they provide better clarity and are highly portable.

Furthermore, growth of the market is attributed to emergence of various interactive display technologies, especially in North America. Besides, the hospitality sector is witnessing a paradigm shift in terms of the transportation sector, including train stations, airports, and public places. At such public places, visitors and travelers can get personalized information, such as booking & check-in, social media sharing, and special offers, at interactive info screens and kiosk terminals.

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https://www.grandviewresearch.com/industry-analysis/interactive-tables-market

Further key findings from the study suggest:

The market is anticipated to witness substantial growth in the coming years owing to rising significance of gamification in the education system and adoption of interactive tables in the hospitality sector
Based on technology, the capacitive segment accounted for the largest market share in 2019 owing to improved touch technology and distance sensing
By screen size, 32 to 65 inch tables captured a significant market share in 2019 and are witnessing high demand across various sectors as they are portable and easy to carry from one place to another
The interactive tables market in North America is expected to witness significant growth owing to the presence of a large number of restaurants using interactive technologies, coupled with strong presence of touch table solution providers in U.S.
Key players in the market include Box Light Corporation, DigaliX, eyefactive GmbH, Garamantis GmbH, and HORIZON DISPLAY, LLC.

Trade Surveillance Market Worth $2.9 Billion By 2027

The global trade surveillance market size is expected to reach USD 2.9 billion by 2027, registering a CAGR of 19.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing need for monitoring trade activities in financial institutions, consulting firms, and government regulatory offices is considered to be the primary factor for the market growth. The market growth is ascribed to rising pressure on financial markets to adhere to the regulations and compliances.

At the government level, regulatory agencies such as the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) provide trade surveillance system to help maintain securities laws and protect investors against fraud. Furthermore, the benefits such as improved workflow management and internal control are also anticipated to increase the demand for trade surveillance in these regulatory agencies over the forecast period.

Furthermore, the market is also driven by increasing number of insurance businesses and rising demand for advanced banking solutions, especially in Asia Pacific, which currently accounts for the second-fastest growth. Furthermore, Asia Pacific has a substantial impact on the market misconduct and cross-border trading, which in turn is boosting the trade surveillance market growth in this region.

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https://www.grandviewresearch.com/industry-analysis/trade-surveillance-market

Further key findings from the study suggest:

The market is anticipated to witness substantial growth during the forecast period owing to rising adoption among various end users including government regulators, market operators, and IT services providers
The solutions segment accounted for the highest market share in 2019 owing to the associated benefits such as optimization of surveillance data, enhancement of compliance management, and streamlining of case management
The on-premises deployment segment accounted for the largest share due to various benefits such as easy integration with the existing IT infrastructure of the enterprise and high level of data security
Europe is anticipated to register a significant growth and dominate the market in the forecast period owing to extensive adoption of cloud-based trade surveillance systems by various enterprises and trading regulations imposed by the government
Key players in the trade surveillance market include NICE Systems; Crisil Limited; Aquis Technologies; Scila; OneMarketData, LLC; IPC System, Inc.; B-Next; ACA Compliance Group; Red Deer (Jersey) Ltd.; Nasdaq, Inc.; and SIA S.P.A.

Active Pharmaceutical Ingredients Market Worth $286.6 Billion By 2027

The global active pharmaceutical ingredient market size is expected to reach a value of USD 286.6 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.7% over the forecast period. Factors, such as increasing preference for outsourcing APIs and growing prevalence of various target diseases such as cancer and Cardiovascular Diseases (CVDs) are expected to drive the market growth.

A steady rise in consumer demand for APIs, especially in developing and under-developed countries, increases the adoption of these products. In addition, strategic collaborations play a key role in the adoption of these ingredients in various regions. For instance, in February 2019, Cipla Inc. partnered with Wellthy Therapeutics Private Limited to combine digital therapeutics and pharmacotherapy for better patient outcomes in cardiovascular diseases and diabetes.

Private and public initiatives to manufacture active pharmaceutical ingredients within their countries, especially in developing countries such as India, is expected to drive the growth of the market. For instance, API production in India is promoted under the “Make in India” initiative.

Presence of prominent players and increasing government initiatives for the development of pharmaceuticals in various regions are also expected to boost the market growth. Increasing consumer awareness and demand for economical and effective treatment strategies, especially in Asia Pacific and Middle East and Africa, are driving the sales channels. In addition, high adoption and growing usage of online pharmacies are likely to drive the e-commerce sales of APIs.

The API market is competitive in nature and is becoming increasingly competitive. Consequently, manufacturers are required to enhance products in order to gain advantage over previously marketed products. For instance, in March 2019, Dr. Reddy’s Laboratories Ltd. launched XCEED-a B2B customer service portal. The platform was designed to manage the growing demand for generic active pharmaceutical ingredients by significantly increasing operational efficiency.

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https://www.grandviewresearch.com/industry-analysis/active-pharmaceutical-ingredients-market

Further key findings from the report suggest:

On the basis of type of synthesis, the synthetic segment dominated the active pharmaceutical ingredients market in 2019 owing to easy availability of raw materials and easier protocols in place for the synthesis of these molecules
The biotech segment is estimated to register the highest CAGR owing to higher efficiency of these molecules and increasing demand for biopharmaceuticals
Captive manufacturers held the largest share in 2019 due to easy availability of raw materials
The merchant manufacturers segment is estimated to witness a lucrative CAGR over the forecast period
The generic segment is estimated to register the highest CAGR over the forecast period. The segment is driven by factors such as lower cost and expiration of patents of branded drugs
Asia Pacific is estimated to register a significant CAGR of 8.0% owing to the increasing number of pharmaceutical manufacturing plants in the region
Some of the key players in the API market are Mylan N.V.; Teva Pharmaceutical Industries Ltd.; Boehringer Ingelheim International GmbH; AbbVie Inc.; Merck & Co., Inc.; Cipla Inc.; Albemarle Corporation; Dr. Reddy’s Laboratories Ltd.; Bristol-Myers Squibb Company; Aurobindo Pharma; and Sun Pharmaceutical Industries Ltd.

Surgical Navigation Systems Market Size Worth $1.44 Billion By 2027

The global surgical navigation systems market size is expected to reach USD 1.44 billion by 2027, exhibiting a 7.2% CAGR during the forecast period, according to a new report published by Grand View Research, Inc. Growing geriatric population along with rising prevalence of brain cancer, orthopedic degenerative and ENT among other target disorders and diseases is expected to propel the demand for surgical navigation systems (SNSs).

Aging is considered as the greatest risk factor for the development of degenerative disorders of joints; such as osteoporosis. Rising geriatric population is expected to serve as a high-impact rendering driver for the market. Osteoarthritis and osteoporosis are the most common disorders in the population aged over 65 years. Growing prevalence of these disorders possesses increasing economic burden on many countries. As per International Osteoporosis Foundation, total number of hip fractures is expected to reach 5,395 million by 2050.

According to the Central Brain Tumor Registry of the United States (CBTRUS), the incidence of all non-malignant brain, primary malignant, and other CNS tumors was 22.64 cases per 100,000 in 2016. In U.S., over 78,980 new cases of non-malignant brain, primary malignant, and other CNS tumors were anticipated to be diagnosed in 2018. This factor is anticipated to propel the demand for surgical navigation systems in the forthcoming years.

The demand for minimally invasive procedures is increasing across the world. Surgical navigation systems are instrumental in providing better accuracy and precision in diagnosis and determining correct implementation of plans during surgery, thereby aiding in minimally invasive procedures with improved patient outcome.They offer visual imaging at every stage of the surgery thereby allowing modification of plan during the surgical procedure according to intra-operative findings. It is also cost-effective in joint replacement procedures as very few patients require revision after a one-time procedure.These associated advantages are expected to boost the product demand over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/surgical-navigation-systems-market

Further key findings from the study suggest:

Neurology segment held the largest market share of 36.67% in 2019, owing to the early implementation of surgical navigation in this branch and the advantages associated with SNSs that aid the surgeons to perform complex surgeries with increased accuracy
ENT segment is expected to expand at a lucrative CAGR of 8.2% over the forecast period, owing to the rising prevalence of ENT disorders along with increasing adoption in ENT surgeries
On the basis of technology, the electromagnetic SNSs segment held the largest market share in 2019, owing to low cost and ease of use of the technology
Optical SNSs segment is expected to witness an exponential CAGR of 8.1% owing to its advantages over electromagnetic SNSs such as precise and accurate navigation
Key players in surgical navigation systems market are engage in various strategies such as new product developments for better market penetration. In September 2019, Brainlab declared FDA clearance for Cirq robotics. The device is being used in U.S. for spinal application. Cirq is designed to help increase precision in navigated spinal surgery procedures, thereby, strengthening their product portfolio.

Breast Pumps Market Size Worth $3.0 Billion By 2027

The global breast pump market size is expected to reach USD 3.0 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.0% over the forecast period. The rising number of working women globally, increasing incidences of lactation failure among women, and various government initiatives aimed at improving awareness regarding the benefits of breastfeeding are factors driving the market growth.

Increasing women’s employment rates is expected to be a high-impact rendering driver for this market. Working women have a relatively higher disposable income and lesser time to breastfeed their babies, thus boosting product demand. For instance, according to Eurostat, women’s employment rate increased from 65.3% in 2016 to 66.5% in 2017. It is difficult for working women to provide proper nutrition to their babies owing to long work hours. Undernutrition is the main concern with reference to poor feeding. According to the WHO, an estimated 45.0% of child deaths are related to undernutrition. Additionally, few studies have observed a lactation failure rate among 23–63% of women globally in the first four months post-delivery. Breast pumps allow mothers facing lactation failure and employment challenges to provide proper nutrition to their babies without hampering their professional life.

Furthermore, favorable health insurance plans are expected to drive product demand. Most health plans require consumers to purchase breast pumps of specific brands. Manufacturers are hence entering into collaborations with insurance companies to enhance their market presence and increase their market share, thereby driving breast pumps market growth.

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https://www.grandviewresearch.com/industry-analysis/breast-pumps-market

Further Key Findings From the Report Suggest:

The closed system segment is projected to register the highest CAGR over the forecast period as these pumps are relatively more hygienic
On the basis of technology, the electric segment is expected to witness a significant growth rate over the forecast period owing to increasing inclination toward technologically-advanced products
The hospital grade segment dominated the market in 2019 owing to the increase in awareness of the benefits of breastfeeding. Personal use pumps are expected to witness a significant CAGR over the forecast period owing to its cost-effectiveness
Asia Pacific is estimated to register the highest CAGR of over 8.0% in the global breast pumps market. This is attributed to a constantly improving healthcare infrastructure and growing customer awareness about the benefits and application of breast pumps
Key companies in the market include Ameda AG, Bailey Medical, Hygeia Medical Group, Medela AG, Koninklijke Philips N.V., Linco Baby Merchandise Work’s Co., Ltd., and Lansinoh Laboratories.

Automated Fingerprint Identification System Market Worth $12.46 Billion By 2025

The global automated fingerprint identification system (AFIS) market size is projected to reach USD 12.46 billion by 2025, according to a new study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 18.4% over the forecast period. Increasing demand for advanced security systems across various business domains is expected to boost the growth. In addition, rising adoption of mobile payment solutions and demand for integrated AFIS solutions are expected to fuel the expansion.

AFIS is increasingly used to cater to the safety and security needs of individuals and organizations, on account of growing number of threats across the globe. A biometric identification system is difficult to circumvent. Systems based on this technology provide a secure identification and verification mechanism to mitigate the level of transaction frauds and security breaches. This factor is expected to drive the demand for automated fingerprint identification systems over the forecast period.

Smart homes are equipped with advanced security systems such as fingerprint access control. Additionally,existing building retrofits are installing biometric security systems to counter thefts and malicious entries. This is further expected to boost the market growth. Furthermore, increasing terrorist activities and theft cases have compelled governments to deploy AFIS solutions in various government agencies, which, in turn, is expected to drive the market in near future.

The rising demand for AFIS technology in enterprises to monitor the attendance of employees is expected to propel the market growth. Developers are focusing on introducing automated fingerprint identification systems that can withstand extreme conditions and can be used suitably across various industries, including manufacturing, IT and telecommunication, construction, and oil and gas, among others.

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https://www.grandviewresearch.com/industry-analysis/automated-fingerprint-identification-system-market

Further key findings from the report suggest:

Software segment is anticipated to account for a significant market share over the forecast period owing to the advantages offered by biometric identity and security software
Government segment is expected to account for a significant market share over the forecast period owing to the increasing use of AFIS technology in e-governance applications and law and enforcement agencies
North America is expected to continue to lead the market over the forecast period and reach USD 4.05 billion by 2025. Growing adoption of AFIS by law enforcement agencies for criminal identification is anticipated to propel regional market
Key companies operating in the Automated Fingerprint Identification System (AFIS) market include Gemalto NV; NEC Corporation; Crossmatch; IDEMIA; Dermalog Identification Systems GmbH; SUPREMA; Fujitsu Limited; Sonda Technologies; HID Global Corporation; Papillon Systems; East Shore Technologies, Inc.; and AFIX Technologies.