The global coronary stents market size is expected to reach USD 11.3 billion by 2027, expanding at a CAGR of 4.7%, according to a new report by Grand View Research, Inc. Increasing adoption of minimally invasive surgeries and percutaneous coronary intervention (PIC) procedures is expected to drive the market for coronary stents in the coming years. Moreover, increasing geriatric population is considered as a high impact rendering driver for the growth of this industry over the forecast period. Technological advancement in 2nd generation drug eluting stents (DES) is further fueling the growth. Development of biodegradable and polymer free DES in order to increase patient compliance is expected to drive the market over the coming years.
The coronary stent market is driven by reimbursement coverage provided by the general public Center for Medicare and Medicaid Services (CMS) and private payers. The coverage is availed under national coverage determination for carotid artery stenting, including products and service provider. From January 2020, Centers for Medicare & Medicaid Services (CMS) proposed reimbursement for some angioplasty and stenting procedures performed in ambulatory surgical center (ASC), which is expected to boost market revenue over the forecast period.
In terms of revenue, the DES dominated the product segment as of 2019. New product launches and technological advancements in 2nd gen DES are acting as the driving factor for this segment
Prices for the first-generation BVS (Bioresorbable Vascular Scaffold) are much high as compared to existing BMS (Bare Metal Stent) and DES. Due to its safety concern and high hospitalization rates, doctors are not preferring BRS over DES. Moreover, high crossing profile and bulky struts are factors majorly impeding the BRS market
Asia Pacific is expected to exhibit the highest growth rate over the forecast period. Increase in disposable income and growing incidence of heart diseases will fuel market growth in the coming years
Some of the key companies present in the coronary stent market are Medtronic, Abbott, Boston Scientific, Terumo Corporation, Biotronik, and Microport Corporation
With USD 2.3 billion R&D expenditure in 2018, Abbott is anticipated to provide with technologically advanced second generation DES and may be BVS in near future.
The global 3D printing market size is estimated to reach USD 35.38 billion by 2027, according to the new report by Grand View Research, Inc. It is expected to witness a CAGR of 14.6% over the forecast period. 3D Printing (3DP) is also referred to as Additive Manufacturing (AM), as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.
3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The industrial vertical happens to be the most significant adopter of the 3DP technology and eventually leading to the highest market share of 3D printers for industrial applications over the forecast period. The additive manufacturing is anticipated to evolve with rising R&D and technological advancements.
3D printing continues to gain popularity among hobbyists and innovators. While individuals are using the technology for domestic and personal purposes, universities and educational institutes are using 3DP for conducting technical training. The market is subject to witness a considerable economical appearance rather than being just a labor-intensive industrial manufacturing technique. Particularly in developing economies, such as Brazil, South Africa, and India; machining shops have managed to adopt alternative business models by installing 3D printers and offer related services, such as 3DP materials, software, filaments, and 3D modeling.
Based on application, the 3D printing market has been segmented further into prototyping, tooling, and functional parts. Automotive, healthcare, and aerospace and defense verticals are among the leading adopters of 3D printing technology. Incumbents of these verticals have an emphasis on accuracy, enhanced product designing, reliability, shorter time to market, and economical production processes. Given that the additive manufacturing possess can offer all these benefits, the adoption of three-dimensional printers by the automotive, healthcare, and aerospace and defense verticals is expected to gain traction over the forecast period.
The 3D printing and related technologies are evolving continuously in line with the intensive R&D activities being undertaken and the aggressive investments being made by the private sector as well as the public sector. Government funding and encouraging initiatives being undertaken in developed economies are prompting manufacturers to pursue improvements in technology and the adoption of new technologies.
North America accounted for the largest market share of more than 35% in 2019 as a result of the extensive adoption of 3D printers for 3D designing, modeling, and manufacturing in various industries. On the other hand, Asia Pacific has emerged as a manufacturing hub owing to an expanding consumer base as well as the continued rise in foreign investments. Hence, the regional market is expected to witness remarkable growth over the forecast period.
The 3D printing technology happens to be a capital-intensive technology. At the same time, manufacturers are holding to their misconception about prototyping rather than realizing the advantages associated with 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for 3D printing. These are some of the factors expected to restrain the market growth. However, government initiatives aimed at increasing the awareness and promoting the benefits of adopting 3D printers are expected to help counter the market restraints.
3D printing technology is gaining traction owing to the ability of the technology to offer accurate and rapid prototyping and optimize the time to market
Increasing adoption of 3D printers in healthcare, automotive, and consumer electronics verticals is likely to drive the market growth significantly
Demand for desktop 3D printers is expected to increase over the forecast period, as 3D printing is gaining popularity among hobbyists for domestic, household, and personal usage as well as in education sector for training purposes
Prototyping segment dominated the market in 2019 and is expected to expand its market share to more than 50% by 2027.
The polymer segment contributed to almost half of the entire industry share. However, the metal segment is expected to dominate the market in the next seven years. This is attributed to the increasing demand for metal 3D printing from industrial verticals such as automotive and aerospace & defense
The desktop 3D printing segment is expected to adopt the 3DP technique aggressively over the forecast period. It has been segmented further into educational purpose, fashion and jewelry, objects, dental, food, and others
Asia Pacific 3D printing market, which is emerging as a manufacturing hub for several industry verticals, is anticipated to grow significantly as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt 3DP, particularly in countries, including China, Japan, and South Korea
The prominent players in the market include Stratasys Ltd.; 3D Systems, Inc.; 3D Ceram; GE Additive; HP Inc.; Tiertime; EnvisionTec, Inc.; and Dassault Systemes
The global enteral feeding devices market size is expected to reach USD 3.58 billion by 2025, at a CAGR 5.8% over a forecast period, according to a new report by Grand View Research, Inc. It is majorly driven by rising incidence of malnutrition and pre mature birth cases, prevalence of chronic disorders such as gastrointestinal disorders, cancer and neurological disorders.
Furthermore, the shift from parenteral nutrition to enteral feeding is one of the factors gaining a significant traction in the market. This is owing to the increased risk of infections due to needle stick injuries during parenteral nutrition, whereas enteral nutrition is administered directly in the gastrointestinal tract. Moreover, older patients diagnosed with chronic diseases such as cancer, inherited metabolic disease and neurological disorders are recommended with enteral nutrition. Thus, rise in the number of admissions in hospitals due to increase in the number of patients diagnosed with chronic diseases are in turn driving the demand for enteral feeding, fostering the market growth.
In 2018, World Health Organization (WHO) stated that around 15 million preterm babies are born each year and this number is constantly rising and approximately 1 million children die each year due to preterm birth complications. Furthermore, over 60% of preterm births occur in Africa and South Asia due to increasing maternal age and underlying maternal health problems such as diabetes and high blood pressure. However, one of the major concerns with premature infants is swallowing and intake of proper nutrients. Therefore, demand for enteral feeding devices has gained a significant traction to provide adequate amount of food to for the growth and development of these infants.
In 2018, enteral feeding pump held the largest revenue share and is also expected to be the fastest growing segment over the forecast period, owing to the adoption of the device among patients who lacks key micronutrients
Nasogastric tubes held the second largest revenue share owing to the adoption of these tubes for providing medicinal and nutritional support to the ill patients
Introduction of low profile gastronomy devices or balloons has changed the way enteral feeding is performed. It has made the feeding and carrying the tube easy and incident free. These factors are expected to boost the adoption of low profile gastronomy tubes
North America held the largest revenue share of the enteral feeding devices market owing to the rising number of pre term births
Asia pacific expected to emerge at the fastest CAGR over the forecast period owing to the growing geriatric population and prevalence of malnutrition
Key players include CONMED Corporation; Abbott Nutrition; Kimberly Clark; Amsino International Inc.; Boston Scientific Corporation; Cook Medical; Moog Inc.; and Danone Medical Nutrition.
The global dunnage packaging market size is projected to reach USD 4.8 billion by 2027 registering a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Dunnage packaging is extensively used in end-user industries, such as aerospace, food & beverage, consumer durables. These industries implement a custom dunnage solution to modify the shape of the product/s packed, which not only safeguards the packed product but also helps in saving and optimizing the cargo space.
This type of packaging is predominantly used in automotive applications on account of the rising demand for eco-friendly and 360° product safety. Herein, corrugated paper- and foam-based packaging assist in preserving lightweight packaging while lowering the transportation and handling costs, and maintaining the structural integrity of automotive components.
On the basis of raw material, the corrugated plastic segment led the global market in 2019 and is projected to expand further at the fastest CAGR of 7.1% from 2020 to 2027. This can be attributed to the rising demand for the material as it is lightweight, highly durable, eco-friendly, and inexpensive. Corrugated plastic is extensively used in the electronics industry as the material can be molded into different sizes and shapes.
Asia Pacific is expected to be the largest as well as the fastest-growing regional market over the forecast years on account of rising product demand from the electronics, aerospace, and automotive end-use industries. Furthermore, rapid urbanization in countries, such as China, India, and Australia, has led to the increased consumption of FMCG, automotive, and consumer durable goods, which require dunnage packaging. This, in turn, will help boost the market growth.
In terms of revenue, the foam raw material segment is projected to ascend at a CAGR of 6.8% over the forecast period
Foam packaging solution offers Class A surface protection, cushioning support, and vibration & shock protection, which, in turn, is projected to augment the demand for foam-based dunnage solutions
The electronics application segment is estimated to register the fastest CAGR from 2020 to 2027
Growing demand for thermoplastics, fabric, and foams-based dunnage solutions to pack distinguished electronic components, on account of the product’s ability to impart anti-static, conductive, or static dissipative properties, is likely to fuel the segment growth
Asia Pacific is expected to witness the fastest growth during the forecast period due to rising sales and consumption of automotive vehicles
In June 2020, Reusable Transport Packaging published a first-of-its-kind all-inclusive analysis of the Reusable Transport Packaging (RTP) industry, named- the 2020 State of the Reusable Packaging Industry Report
On account of the growing interest in sustainability in transportation & logistics packaging, the company attempts to help manufacturers and service providers to grasp a holistic view of eco-friendly processes, packages, products, and distribution practices
The global chillers market size is expected to reach USD 13.99 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% over the forecast period. Rising demand for efficient HVAC and refrigeration systems in newly constructed structures to maintain the increasing internal temperature is expected to drive the market over the forecast period.
Chillers are used in various industries, including plastics, food & beverage, printing, medical, electronics, petrochemical, pharmaceutical, and power plants to provide cooling. Increasing adoption of chillers in manufacturing facilities, residential structures, hospitals, restaurants, and sporting arenas, among others is expected to positively impact the product demand.
The demand for HVAC systems for cooling and dehumidifying the buildings is witnessing significant growth over the past few years on account of the rising atmospheric temperatures, attributed to global warming. Furthermore, the ability of the chillers to efficiently transfer heat from the internal environment to the external atmosphere is expected to support market growth.
Lockdown imposed to curb the spread of COVID-19 coupled with low GDP growth in various economies has resulted in dampening the construction activities globally. Furthermore, the closure of end-user facilities, including various production facilities and commercial buildings, has hampered the demand for repair & maintenance and aftermarket sales of the product.
The air-cooled segment is expected to witness the fastest CAGR of 4.8% from 2020 to 2027, in terms of revenue, on account of low initial and maintenance costs of these systems due to the simple construction and design
The centrifugal chillers segment is estimated to witness a CAGR of 4.0%, in terms of revenue, from 2020 to 2027, due to increasing adoption of these systems in commercial and industrial buildings for cooling medium to large loads
The medical & pharmaceutical sector accounted for a major share of the global industrial application segment in 2019, due to high product usage in CT scanners, MRI systems, blood cooling systems, electron & laser microscope, and precision laboratory applications
The product demand in Italy is estimated to reach USD 728.1 million by 2027 owing to the positive growth of retail, tourism, and manufacturing industries coupled with increasing investments in the construction industry in the country
Major industry participants are focusing on licensing agreements, new product launches, and mergers & acquisitions to obtain a competitive edge and strengthen the market position
The global dehydrated garlic market size is expected to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.3% over the forecast period. Dehydrated garlic has been gaining an increasing traction among the consumers on account of medicinal benefits including improvement in cholesterol levels, which lowers the risk of cardiovascular diseases. Furthermore, growing popularity of garlic products in soups and broth in food restaurants as it enhances the iron intake in human body and promotes kidney function is projected to have a strong impact in the near future. These products are available in the variants of raw solids to powder formats.
The granular and powder product type is expected to register the fastest CAGR of 3.2% from 2019 to 2025 in terms of volume. The coarse texture of these products is expected to promote the application in formulation of various cuisines including seafood, sauces, salad dressings, and Italian as well as Chinese dishes. Furthermore, growing popularity of barbeque dishes in developing economies including China and India is expected to expand the utility of granulated dehydrated garlic as a seasoning during dish serving in the near future.
Demand for chopped and minced products is expected to exceed 650 kilo tons by the end of 2025. Excellent freshness, strong flavoring characteristics, and long shelf life of minced product types as compared to other garlic counterparts are expected to expand the former’s utility in the preparation of various dishes including marinades and stews over the next few years.
Some of the key players operating in the global dehydrated garlic market are Apple Food Industries, AsianFood Export, Ganesh Dehy Foods, Garlico Industries Ltd., Harsh Impex, Jiyan Food Ingredients, KOHINOOR FOOD INDUSTRIES, Natural Agro Food, Nature Exports Co., and SHANDONG YUMMY Food Ingredients CO., LTD. Establishment of strategic partnerships with the food service companies in developing economies including China and India as a result of increasing spending by the working class population on dine-out is projected to remain a critical success factor in the near future.
The global pharmaceutical glass packaging market size is projected to reach USD 22.05 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% during the forecast period. Governments in developing regions are expanding their public or private healthcare coverage which is expected to drive the demand for this packaging.
Pharmaceutical glass packaging plays a major role in increasing shelf life of the drugs. Growing requirement for brand enhancement and differentiation in an increasingly competitive environment, R&D activities, awareness regarding environmental issues, and adoption of new regulatory requirements for recycling of packaging products are some of the key market drivers.
The market size as well as penetration of glass vials is anticipated to remain high over the forecast period owing to the high inertness of these products to majority of chemicals. Moreover, the vials prevent atmospheric gases such as oxygen as well as carbon dioxide from entering the container, which is anticipated to surge the product demand in the forthcoming years.
The pharmaceutical glass packaging market is expected to face a stiff composition from other plastic substitutes such as Polyethylene Terephthalate (PET), High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), and Polystyrene (PS) not only for the development of non-parenteral containers but parenteral containers as well, which is expected to hinder the market growth in near future.
Asia Pacific is estimated to witness the fastest CAGR of over 9% during the forecast period on account of increasing production volumes in emerging economies including India and China. China is expected to emerge as one of the major consumers of pharmaceutical glass packaging.
In terms of revenue, pharmaceutical glass bottles is projected to ascend at a CAGR of 4.8% over the forecast period
Cartridges and syringes contributed approximately over 9.8% to the total market in 2018
Pharmaceutical glass packaging for generic drug types led the global market, constituting a revenue share of over 71.3% in 2018
In terms of product, vials emerged as the second largest segment in 2018, registering a revenue of USD 4.66 billion. The segment is expected to expand at a CAGR of 7.0% in the forthcoming years
Biologics accounted for 6 of the top 8 drugs, in terms of revenue, in 2018. Biologics are attractive for the global pharma industry as they provide benefits in the underserved therapeutic areas, which is anticipated to fuel the growth
North America pharmaceutical glass packaging market is anticipated to expand at a CAGR of 3.6% in the forthcoming years.Expiration of patents, rise in aging population, and various efforts from governments and health care service providers to increase consumer awareness are likely to propel the utilization of generic drugs in the region
SCHOTT AG; Gerresheimer AG; Nipro Pharmapackaging; Corning Incorporated; Şişecam Group; Stevanato Group; Arab Pharmaceutical Glass Co.; Beatson Clark; and Owens-Illinois, Inc. are some of the key manufacturers of pharmaceutical glass products such as ampoules, cartridges and syringes, vials, and bottles
The global snacks market size is projected to reach USD 708.6 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 6.2% over the forecast period. Healthy eating, indulgence, informality, premiumization, provenance, and value scrutiny are some of the crucial factors driving the market.
The desire for fresh food is growing and people are rejecting industrial food. Consumer concerns with cues including locally grown, processed recognizable ingredients, and shortest ingredient lists have accelerated in recent years. Price drops in recent years, coupled with increased population, improved foodservice, and rising disposable income, is expected to drive demand for processed snacks in developing markets. Growing demand for convenience foods and ready-to-eat meals in modern trade channels is also expected to spur market growth.
The Central and South America market is expected to grow at a consistent rate over the forecast period. Brazil, Argentina, and Chile remain key markets for international brands to increase their customer base. Rising product sales, especially in emerging economies, indicate that people are willing to spend more on snack products owing to improving disposable incomes. This trend is anticipated to continue in the near future.
Various factors such as price-affordability, ease-of-use options, and enhanced product quality have been contributing to product demand. Regional players are focusing on providing products that suit varied preferences of consumers in their respective regions, which gives these players a substantial growth opportunity in developing countries.
The snacks market is highly competitive in nature and, therefore, marked by an extensive range of new products and flavors. Key players in the global snacks market include Tyson Foods, McCain Foods, Aviko, General Mills, and Pepsico. Acquisitions, mergers, joint ventures, and product innovation remain key strategies in order to increase sales.
Based on non-extruded snacks, the refrigerated products segment is projected to exhibit a CAGR of 5.3% in terms of revenue over the upcoming period
The fruits and vegetable segment accounted for over 12.0% to the total market in 2018. Increasing awareness among consumers about these products, especially in European countries such as U.K., Germany, and France, is expected to propel segment growth over the forecast period
On the basis of extruded product type, the tapioca segment is anticipated to register a CAGR of 4.0% owing to rising demand for healthy snacking options. Moreover, the popularity of the product as an instant source of energy is expected to drive its demand in the market
While supermarkets and hypermarkets dominate the global market, convenience stores are gaining popularity as a distribution channel and the segment is likely to exhibit the highest CAGR of 6.8% over the forecast period
South Africa, Israel, UAE, Egypt, Iran, and Saudi Arabia are some of the major markets in terms of consumer spending. The UAE market is expected to exhibit a CAGR of 7.2% over the forecast period thanks to rise in consumer disposable income and changing food habits and preferences
The snacks market is highly competitive in nature and is driven by unique product offerings and high consumer demand. PepsiCo, General Mills, Tyson, Hormel, Hain Celestial, Nestlé, and Kellogg were the major players in 2018
The global small hydropower market size is expected to reach USD 3.49 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.0% from 2020 to 2027. Cost advantages for installing small hydropower based power generation and the replacement of fossil fuel-based electricity production in an effort to reduce carbon emission into the atmosphere are expected to drive the market.
A supportive regulatory framework for supportable energy in the European Union and the United States is also likely to have a positive influence on market growth. Execution of favorable government regulations such as the Small Conduit Hydropower Development and Rural Jobs Act and Hydropower Regulatory Efficiency Act in the United States and an increasing number of funding programs related to the renewable energy sector in various developed countries, such as Canada and Italy, are some of the factors projected to present future growth prospects.
Increasing investments in small hydropower projects to surge the rural electrification in emerging countries are likely to drive the market. Besides, the assistance in the form of fewer interest loans and allowances, renewable purchase obligations, feed-in tariffs, and financial incentives would further assist the growth of this market. An unstable source as the energy generation that depends upon seasonal lows and highs can curb the growth of the market.
China, India, and Australia are the fastest growing countries contributing mainly to the Asia Pacific market growth. The small hydropower market in Australia is set to expand at a CAGR of 1.9% from 2020 to 2027. The Asia Pacific market is projected to rise during the estimated period owing to the investments in off-grid energy generation and rural electrification. Moreover, the availability of probable sites, along with the presence of a skilled workforce, is expected to favor countries, such as India and China, in market growth.
By type, the mini-hydropower segment is expected to witness the fastest growth over the forecast period
Asia Pacific is projected to grow at a substantial rate throughout the forecast period. China is expected to account for the maximum share in the Asia Pacific region in the forecast period
Based on application, the civil construction segment accounted for 32.0% share of total volume in 2019
Brazil dominated the Central & South America market and is set to reach USD 103.59 million by 2027. Growth in the industrial sector accompanied by a huge hydro potential location owing to the Amazon River will fuel market growth.
The global secondary water and wastewater treatment equipment market size is expected to reach USD 30.05 billion by 2027, expanding at a CAGR of 3.9%, according to a new report by Grand View Research, Inc. Rising demand for wastewater treatment plants owing to stringent regulations is expected to drive the market growth over the forecast period.
Growing concerns over environmental degradation and water pollution coupled with stringent regulations pertaining to wastewater discharges are likely to benefit market growth. In addition, increasing efforts to improve the wastewater treatment coverage, especially in the developing countries is anticipated to further propel the market expansion.
A growing requirement for upgrading the existing aging infrastructure, most notably in the developed economies, is expected to open new avenues for the market growth over the forecast period. Furthermore, the emergence of new pollutants is likely to drive the demand for more advanced and efficient treatment solutions, thereby benefitting the overall market growth.
Rising water scarcity, coupled with growing focus conserving and extending the availability of existing water supplies, is expected to drive the demand for wastewater reuse as a viable option for integrated water management. This, in turn, is anticipated to have a positive impact on the overall demand for secondary water and wastewater treatment equipment in the forthcoming years.
The sludge treatment technology segment accounted for 35.4% revenue share in 2019, on account of increasing demand for efficient, and better management and disposal of sludge generated from wastewater treatment plants
The equipment demand in the municipal application segment is anticipated to witness expand at a CAGR of 3.6% from 2020 to 2027 owing to the growing population, rapid urbanization, and improving municipal wastewater treatment infrastructure in developing countries
The equipment demand in Europe accounted for a revenue share of 26.8% in 2019, on account of developed wastewater treatment infrastructure coupled with a growing focus on rehabilitation, and upgrading the existing wastewater treatment facilities
The demand in China is expected to expand at a CAGR of 5.7% owing to increasing efforts towards combating the high levels of environmental pollution in the country
In January 2020, Xylem, Inc. launched a multi-disciplinary center for water, wastewater, and energy technologies in Singapore that will focus on developing technologies in the field of water distribution, and water, and wastewater treatment
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