North America animal parasiticides market to garner substantial returns over 2017-2024, driven by a stringent regulatory framework and rising pet adoption
The competitive hierarchy of animal parasiticides market recently witnessed one of the most lucrative partnerships of the year, as Merial signed an alliance with the German pharmaceutical company, Boehringer Ingelheim. Post the successful merger, the latter has apparently decided to expand the production capacity of its animal health manufacturing facility at St. Joseph, which would undoubtedly help the company strengthen its position in animal parasiticides industry. Considering the huge demand for parasiticides and pet products, it has been observed that many other companies have also been attempting to ramp up their product portfolio. Recently, Elanco Companion Animal Health launched a massive product range of parasiticides, designed for preventing heartworm disease, whipworm infection, and flea infestations in puppies and dogs. The growing prevalence of zoonotic diseases in the animals is thus, likely to boost animal parasiticides industry share over the years ahead. As per estimates though, in 2016, animal parasiticides market was worth USD 5 billion.
U.S Animal Parasiticides Market size, by Product, 2013-2024 (USD Million)
Regulatory bodies such as the U.S. Food and Drugs Administration (FDA), it has been observed, are also taking initiatives to promote the manufacturing of eco-friendly products. The U.S. Environmental Protection Agency (EPA) for instance, has instituted the President Green Chemistry Challenge Award to motivate manufacturers for developing environment friendly products, the honor of which would undoubtedly prove to be a major driving force for companies in animal parasiticides industry to focus on safer design and latest technology facilities. Driven by a stringent regulatory framework and the early adoption of neoteric products, North America animal parasiticides market is expected to chart out a lucrative growth path in the ensuing years. In fact, as per the estimates, in 2016, North America animal parasiticides industry covered 25% of the overall share, pertaining to the rise in pet population and animal farming.
In the United States, the FDA is responsible for drafting the regulations for limiting the deployment of pesticides in animal-derived products. The association recommended that pet food needs to be hygienic and should not contain any deleterious residue, which may be injurious to animal health. In accordance with the same, the FDA has enforced certain norms for parasiticide manufacturers, which would have a commendable impact on the product landscape of animal parasiticides market. In addition, the U.S. Department of Agriculture has also undertaken the responsibility for regulating veterinary biologics, prominently used for supplementing and enhancing animal immune system, to enhance their safety, effectiveness, purity, and potency. The initiatives undertaken by regulatory bodies would thus, leave a proportional impact on animal parasiticides industy size.
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Taking into account the fierce competition prevalent in animal parasiticides market, most of the animal health companies have been inclining toward the adoption of tried-and-tested growth strategies such as M&As. For instance, MWI Veterinary Supply, Inc., one of the most renowned distributors of animal health packages, recently procured Vetspace Limited. Through this acquisition, MWI aims to upgrade its product portfolio with the help of Vetspace’s cloud based practice management software over the years ahead. Speaking along similar lines, some of the renowned players partaking in animal parasiticides market share are Boehringer Ingelheim, Zoetis, Vetoquinol, Bayer, CEVA Santé Animale, Elanco, Perrigo Company PLC., Merck & Co., and Virbac Corporation.
The commitment of companies toward animal health notwithstanding, regional governments have also been planning to structure guidelines in a bid to enhance livestock farming for breeding and meat. The British Poultry Council for instance, has drafted regulatory codes for chicken farming, which would have a proportional impact on parasiticides market outlook in the years ahead. Considering the extended presence of this business space across developed economies such as those of Europe and North America, major animal health companies have conveniently established their distribution centers in these continents. In fact, MWI Veterinary Supply, Inc., one of the prominent distributors of animal healthcare products, has established a total of twenty-three distribution centers across U.S. and one facility in UK, as on 2014. Another noticeable trend proliferating animal parasiticides market share is that apart from animal health firms, other specialized companies have also been striving to penetrate the business space lately. In terms of revenue, Global Market Insights, Inc., claims animal parasiticides industry size to surpass a valuation of USD 6.5 billion by 2024.
Author Name : Sunil Hebbalkar
Polystyrene (PS) and Expanded Polystyrene (EPS) Market to generate appreciable valuation from packaging applications, global valuation to exceed the 50-billion-dollar frontier by 2024
Videolar-Innova, one of the most renowned players in polystyrene and expanded polystyrene market, has recently expanded its monomer manufacturing capacity in Rio Grande do Sul state, Brazil. Reportedly, the company has increased its production capacity from 260,000 tons to 420,000 tons on an annual basis, given the rising demand for PS & EPS products worldwide, and further plans to become operational from 2019. Videolar-Innova’s expansion can be aptly construed as a dynamic move by the company to consolidate its position in PS & EPS market. Similar moves by companies to upgrade their operational efficiencies and cater to a rather enormous product demand across the construction, packaging, and electronics sectors are slated to generate lucrative avenues for polystyrene and expanded polystyrene industry players. The robust demand for these polymers in the construction sector, owing to their excellent water resistance and thermal insulation properties have further led PS & EPS industry to accrue remarkable gains in the ensuing years. In fact, reports depict the polystyrene and expanded polystyrene market size to be valued at USD 34 billion in 2016, pertaining to the massive number of infrastructure development projects across the globe.
Europe polystyrene & EPS market size, by product, 2013 – 2024 (USD Million)
The non-biodegradability quotient of polymers has been one of the most major concerns pertaining to the limitation of polystyrene and expanded polystyrene industry expansion. Nowadays, people are more aware about the hazardous impact of any synthetic product on the environment. In response to this fact, several governmental & private entities are organizing awareness programs to educate people about the impact of polymers on environment and the benefits of using renewable alternatives over synthetic products, which would considerably impact PS and EPS market. These factors have compelled several PS and EPS industry players to look out for options that are environmentally viable. The fact that these polystyrenes are 100% recyclable have led several companies to focus on upgrading their recycling facilities to lower the impact of PS & EPS products on the environment. For instance, the Polystyrene Association of South Africa has collaborated with Wildlands to recycle products manufactured from polystyrene. Given that EPS products witness tremendous demand across supermarkets, restaurants, and canteens for packaging applications across the South African turf, subject to their superior insulation properties, this agreement would have quite an impact on the regional polystyrene and expanded polystyrene industry share. Speaking about the products’ insulation properties, it is noteworthy to mention that these characteristics, in particular, have helped meet the massive demand for these products from the food packaging sector, which as per estimates accounted for 40% of the overall polystyrene and expanded polystyrene industry share in 2016.
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In order to maintain the much-needed balance between the ecology and product demand for several applications, renowned PS & EPS industry players are investing heavily in designing new systems for the pretreatment, collection, and recycling of EPS (expanded polystyrene). For instance, the Spain based processor and producer of plastics, COEXPAN has recently tied up with firms such as ANAPE, Total Petrochemicals Iberica, and El Corte Inglés for the creation of a seamless value chain with respect to the recycling, generation, and transformation of plastic materials. That said, it is prudent to mention that apart from industry behemoths, various NGOs have been undertaking noteworthy initiatives to reduce the plastic waste generation by reusing all types of plastic waste materials, which would have a rather appreciable impact on polystyrene and expanded polystyrene (EPS) market trends.
In order to increase the overall production capability through chemically recycled PS and EPS, joint ventures are a common strategy undertaken by companies. For instance, Agilyx Corp. has partnered with the styrenics provider, Ineos Styrolution to manufacture products on a large scale from its pyrolysis plant. Speaking of which, some of the key participants in polystyrene (PS) and expanded polystyrene (EPS) industry are BASF SE, Dow Chemical Company, Synthos, ACH Foam Technologies Inc., Total S.A, Synbra Holding BV, Flint Hills Resources, LLC, Kaneka Corporation, Kumho Petrochemical, and SABIC
Taking into account the usability of these polymers, PS and EPS market players are focusing on development of cost effective and environment friendly products. Shifting trends toward the usage of biodegradable and renewable products are also expected to favor the industry growth in the ensuing years. The extensive product demand from end-use sectors such as food service and hospitality, in tandem with the global requirement of environmental safety, will certainly fuel PS and EPS market size over the years ahead.
Author Name : Sunil Hebbalkar
Aerospace Composites Market to accrue substantial gains from commercial aircrafts, North America to majorly drive the regional landscape
Powered by the improving economic stability and heavy government investments in improving the aircraft infrastructure, global aerospace composites market has witnessed a rather commendable growth over the recent years. The perpetually rising demand for commercial & military aircrafts has massively propelled the use of composites in the aircrafts, both in the interior as well as the exterior applications. Moreover, the growing preferences toward cost effective, lightweight, and sturdy components with exceptional processing efficiency have further enhanced the scalability of composites in aerospace applications – a trend that is phenomenally driving the commercialization matrix of aerospace composites industry. As per a report by Global Market Insights, Inc., in 2016, aerospace composites market size was estimated to be worth USD 2.5 billion and is further projected to cross a valuation of USD 5 billion by 2024.
U.S. Aerospace Composites Market, By Aircraft, 2016 & 2024, (USD Million)
Aerospace composites market share is slated to extensively proliferate in the commercial sector, given the extensive use of carbon fibers in these aircrafts. As per estimates, aerospace composites market share from commercial aircrafts generated revenue over USD 1.4 billion in 2016, and is further projected to dominate the industry landscape, holding 52% of the overall share in the coming seven years. The increasing demand for commercial aircrafts due to rise in passenger traffic travelling by air, especially across the Asia Pacific belt have carved a lucrative roadmap for the regional aerospace composite industry. In addition, the robust urbanization & industrialization trends across the continent, along with increase in income levels of mass population have further led to considerable upsurge in the APAC aerospace composites market demand. Besides commercial projects, the regional government & private entities are also witnessed making huge investments in the defense and civil aerospace sector for upgradation. Backing with an instance, the military aviation sector of India is likely to capitalize USD 35 billion in the timespan of next twenty years, to refurbish the aircrafts with technical requirements, quality control, and safety features. This is set to generate huge demand for aerospace composites for renovating or manufacturing interior & exteriors of aircrafts. With India, China, and Japan at the forefront, Asia Pacific aerospace composites industry is expected to register an annual growth rate of 8.5% over 2017-2024.
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While Asia Pacific is undoubtedly one of the most profitable growth grounds for aerospace composites industry, the globally developed continent, North America, also stands to serve remarkable avenues for the market expansion. The region, as per statistics, has been forecast to contribute to over 40% of the overall revenue share and surpass a valuation of USD 2 billion by 2024. The extensive product penetration can be credited to the high demand for lightweight and fuel-efficient aircrafts in the region. The continent is omnipotent as far as developments & technological advancements in the composites business is concerned. Moreover, the fact that the region is home for most of the prominent players in aerospace composites industry, makes it quite overt for the regional trends to have a substantial impact on the global aerospace composites industry outlook.
Speaking of prominent players, Scaled Composites, one of the renowned names in aerospace composites market, is currently developing Stratolaunch – the world’s largest aircraft by wingspan. As per sources, the entire aircraft structure is developed with carbon composites components, to enable the aircraft to be of high strength, yet lightweight. In 2016, the company also launched its all-carbon composite rocket plane know as SpaceShipTwo or VSS Unity. Recently, the company was also in news for having unveiled & flown its first of two new experimental aircrafts called Model 401. Allegedly, with reference to this project, the company demonstrated advanced and low-cost manufacturing techniques to other industry partners as well the US government.
Speaking along similar lines, such innovations and advancements in aerospace materials are anticipated to be the chief parameters underlining the strategic landscape of aerospace composites market in the coming years. In terms of volume, industry experts claim global aerospace composites industry size to exceed 70.5 kilo tons by 2024.
Author Name : Ojaswita Kutepatil
APAC printed cartons market to witness remarkable developments over 2017-2024, food & beverage applications to drive the regional demand
Amcor’s yesteryear acquisition of Alusa to expand its business profile in South America is an apt instance depicting consolidation of printed cartons market which is indeed claimed as an integral vertical of flexible packaging business sphere. Reportedly, Amcor’s acquisition of South America based flexible packaging corporation, Alusa, for USD 435 million in June 2016, provided a substantial boost to the former not only in terms of regional expansion but also in the enhancement of its product and customer base. With this transaction, Amcor has successfully catered an expanded customer base in South America market, spanning across Chile, Columbia, Argentina, and Peru, along with its existing leadership in North America and Asia Pacific. The deal, as claimed by the company, has left unmatched impact on Amcor’s profitability portfolio in the Flexible packaging industry, in extension strengthening its position in the printed cartons market. Some of the renowned contenders in printed cartons market include Lithoflex Inc., Tetra Pak International S.A WestRock Company, and Winston Packaging.
U.S. Printed Cartons market size, by end-user, 2013 – 2024 (USD Million)
Speaking of the geographical aspects, North America is touted to be one of the major growth avenues in the global printed cartons market, augmented by the thriving demand from electronics and hardware sector. Substantial investment in research activities which has led to immense advancements in electronic devices is presumed to be the prime factor driving the regional industry outlook. Statistics further validates the fact- North America printed cartons market has marked a valuation of USD 30 billion in the year 2016. Fierce competitive mindset among the leading giants to standout from their existing contemporaries has ultimately resulted in an increased adoption of innovative packaging solutions, making a significant contribution toward the overall industry share.
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Recently, AMBER university researchers have launched a 2D nanomaterials based printed transistor model, which is claimed to be a breakthrough for potential applications such as food packaging. Endorsed with unique electronic properties, this two-dimensional nanomaterial, is reported to be incorporated with a digital countdown that would warn the consumers with regards to food spoiling. The incessant efforts undertaken by the giants partaking in the printed cartons market with regards to path breaking innovations in food packaging solutions has undoubtedly enhanced the profitability quotient of this industry. In fact, estimates claim, printed cartons industry share from food and beverage applications is expected to witness a y-o-y growth of 5.5% over 2017-2024.
Acquiring an appreciable revenue of USD 40 billion in 2016, APAC turned out to be another profitable belt for printed cartons market investors. Increasing demand for expedient packaging solutions in terms of cost, transport, storage, as well as customer viewpoint has provided a significant impetus to the regional market. In addition to this, the demographic chart of 2016 depicts that APAC belt is home for nearly 60% of the world population – a factor that has stimulated a range of socio economic aspects propelling several end-use sectors such as electronics, healthcare, and food & beverage, in turn proliferating printed cartons market size. As per estimates, APAC printed cartons industry share is slated to experience a y-o-y growth of 6% over 2017-2024.
Despite the threat to the market growth by the cost issue associated with digital printing techniques, printed cartons industry is set to attain remarkable gains in the forecast spell, subject to its wide array of applications in domains including electronics& hardware, food & beverage, cosmetics, healthcare, and residential. A recent report put forth by Global Market Insights Inc., forecasts printed cartons industry to exceed a valuation of USD 188 billion by 2024, with an estimated CAGR of 5.3% over 2017-2024.
Author Name : Satarupa De
Healthcare gamification market to derive maximum revenue via enterprise applications over 2017-2024, China likely to push the regional demand
Healthcare Gamification Market has emerged as one of the most remunerative business spheres of recent times, given the rapidly increasing proliferation of smart technology in the healthcare space. The growing prevalence of chronic diseases across the globe has led to an increased demand for the indulgence of technology in medical care, which has subsequently resulted in the acceptance of gamified models across the healthcare system. A paradigm shift has also been observed in the medical fraternity, to B2C models and outcome-based medicine, which would serve as an impactful driving force for healthcare gamification industry share. An inherent vertical of the medical device spectrum, healthcare gamification market size has observed a massive surge in recent times, while registering a revenue of close to USD 16 billion in 2016.
U.S. Healthcare Gamification Market size, By Game Type, 2013-2024 (USD Billion)
A concise glimpse into the developments underlining healthcare gamification market:
- Aetna Incorporation, one of the most prominent healthcare insurers, implemented the life game platform of Mindbloom to help users understand the significance of healthy living.
- The U.S.-based pharma firm, Pfizer Incorporation, developed Hemocraft, a behavior changing application and an educational tool that helps kids understand the significance of abiding by their hemophilia treatment plan – all by means of a fun gaming atmosphere.
- In yet another breakthrough witnessed across healthcare gamification industry, Melon Health, in 2012, introduced a beta version of Goalpost, a social networking & gaming application designed to help people give up smoking. Reportedly, the app has generated massive awareness among the masses regarding the ill-effects of smoking, which led to 23% of 7000 Goalpost users in New Zealand abandon smoking after twelve weeks.
- Mango health has also developed a gaming application that rewards patients with points, every time they consume medicines post the reminder alerts.
- Reflexion Health makes use of a video feedback technology to rectify the physical movements of the patients by comparing it with the animated models.
- Recently, healthcare gamification market witnessed a collaboration between O.C. Tanner and Virgin Pulse to build wellbeing solutions for employees and promote employee engagement activity. The wellbeing services have been designed to assist individuals form healthy habits and bring about a transformation in their behavior.
- SimplyWell LLC, a key healthcare service provider, was recently acquired by a U.S. based workplace wellness technology firm, Viverae®, in a deal that was touted to mutually benefit both the firms. Through this agreement, SimplyWell’s consumers would be able to take advantage of Viverae’s core services, inclusive of gamified social challenges, iOS & Android mobile applications, and a scientifically proven behavior shifting tool. Viverae®, on the other hand, would expand its product portfolio through this deal and concentrate on enhancing its healthcare services, while simultaneously strengthening its stance in healthcare gamification market.
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Healthcare gamification industry has been gaining remarkable traction across myriad geographies. Experts claim China to be one of the heaviest contributors of this domain, given that the region held a substantial share of the overall healthcare gamification market revenue in 2016. The rising adoption of the disease prevention approach rather than the disease curing one by healthcare professionals is expected to impel China healthcare gamification industry size. Furthermore, the region has observed a widespread deployment of smartphone applications to track physical activity in recent times. The healthcare space has also been adopting gamification models on a large scale, which would further impel the profitability landscape of the China market.
South Africa is another region that would most likely emerge as a lucrative growth avenue for healthcare gamification market. The prevalence of chronic ailments such as Ebola and HIV across the country are certain to provide opportunities to healthcare IT companies for exploiting the untapped potential of South Africa healthcare gamification industry.
Mango Health, Microsoft Corporation, Hubbub Health, and Ayogo Health are some of prominent companies that have firmly consolidated their presence in the competitive hierarchy of healthcare gamification market. These firms, cite experts, have been vigorously adopting growth strategies along the likes of contemporary product launches and extensive R&D funding. The unquestioned acceptance of novel technologies across the healthcare sector is certain to impel healthcare gamification industry size in the years, with a target revenue estimation exceeding USD 40 billion by 2024.
Author Name : Dhananjay Punekar
U.S. breast cancer therapeutics market to exhibit remarkable gains over 2017-2024, product differentiation to outline the competitive landscape
Breast cancer therapeutics market has gained an appreciable popularity over the past few years with the advent of novel drugs addressing specific actionable targets. The commercialization potential of the industry is quite evident from the estimates depicted by Global Market Insights Inc., that claims that breast cancer therapeutics market size to exceed a valuation of USD 28 billion by 2024, primarily backed by the increasing patient pool suffering from breast cancer. Statistics depict, worldwide, incidence of breast cancer has witnessed a tremendous surge over the recent years, with an estimated figure of almost 1.7 million new cases being diagnosed yearly. In fact, as per WHO’s updated report of 2015, approximately 520,000 casualties result from breast cancer every year. The aforementioned figures itself are testimony to the huge opportunities that breast cancer therapeutics market is yet to unfold.
U.S. Breast Cancer Therapeutics Market, By Product, 2013 – 2024 (USD Billion)
Speaking along similar lines, it is further prudent to note that U.S. experiences a stronghold in the global breast cancer therapeutics industry, subject to the growing occurrence of breast cancer in America. A latest estimation brought forth by the American Cancer Society for the year 2017 claims that U.S. would witness 63410 cases of CIS (carcinoma in situ) and 252,710 cases of invasive breast cancer this year. The report further states that unfortunately around 40,610 women casualties are likely to result from breast cancer. The massive upsurge in the occurrence of breast cancer has upscaled the demand for high-end breast cancer treatments, leaving a subsequent impact on the regional breast cancer therapeutics market size. U.S, having pegged the title of one of the most profound participants in the global business space, is expected to contribute significantly toward the global breast cancer therapeutics industry share in the ensuing years.
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Another vital trend providing a substantial push to breast cancer therapeutics market size is the advancements in healthcare infrastructure. Of late, the expanding healthcare business space is blazing with abundance of innovations by renowned giants who have been incessantly attempting to effectuate commercialization of innovative drugs that prove to be extensively beneficial for the consumers – a trend that is leaving a perpetual impact on the product matrix breast cancer therapeutics market.
As per a recent news snippet, scientists at Institute of Cancer Research, London, have come up with a breakthrough solution for breast cancer patients, which reportedly obliterated all signs of breast cancer in 11% patients within a span of 11 days. The drug was allegedly manufactured by blending two cancer drugs – lapatinib (Tyverb) and trastuzumab (Herceptin), and aided almost 17% of the patients with shrinking of tumors so significantly, that the patients didn’t even require chemotherapy post the drug application.
Lately, the overall breast cancer therapeutics market has been fiercely competitive with the engagement of leading giants such as Roche Diagnostics, Novartis, Eli Lilly, Eisai, AstraZeneca, Celgene, Pfizer, and Sanofi. Product differentiation is a major growth strategy incorporated by these market players. Ongoing developments in clinical trials have led to the emergence of novel therapeutic approaches that identifies and addresses specific biological targets. Though only a fraction of renowned giants offer therapeutics for breast tumor as of now, experts claim, breast cancer therapeutics industry to witness substantial expansion in the coming seven years, characterized by the strong participation by the SMBs toward the development of novel drugs and outcome based solutions. In terms of y-o-y growth, the global breast cancer therapeutics market is estimated to register a CAGR of 9% over 2017-2024.
Author Name : Satarupa De
U.S. oxygen cylinders and concentrators market to witness lucrative proceeds over 2017-2024, rising respiratory disease prevalence to drive the regional demand
Powered by a rather humongous application spectrum in the healthcare fraternity, oxygen cylinders and concentrators industry has witnessed a dramatic proceed over the recent years. Testament of the fact is the billion-dollar valuation attained by this market in 2016. Estimates suggest the global oxygen cylinders and concentrators market to have crossed a revenue of USD 2 billion in the yesteryear. A large credit of this growth goes to the healthcare and medical sector, which indeed is regarded as one of the major application segments of this business space. A rapid rise in the number of patients with respiratory disorders has fueled the demand for oxygen cylinders substantially. As per AAAAI, approximately, 300 million people globally are diagnosed with Asthma out of which almost 250,000 people are succumbed to the disease. Estimates further claim that the number of Asthma patients will further grow by above 100 million by the end of 2025 – another data backing the lucrative roadmap projected for oxygen cylinders and concentrators market.
U.S. Oxygen Cylinders and Concentrators Market size, By Product, 2013-2024 (USD Million)
Another vital trend that is fueling the growth of oxygen cylinders and concentrators industry is the increasing life expectancy of the elderly population. The drift is quite commendable across the U.S., where the overall geriatric population base is expected to surpass 98 million by 2060. Reportedly, the geriatric population then will represent 24% of the overall regional population. This surge will overtly leave a perpetual impact on oxygen cylinders and concentrators industry, as the elderly population is more prone to respiratory disorders such as COPD and Asthma. Asthma has further registered a high occurrence rate in the younger population (10-24 years) with a prevalence of 3%-18%. Allegedly, in the U.S., people aged 65 years and above have also recorded a high prevalence of Asthma – between 4%-10%, predominantly in the females. Speaking along similar lines, these trends also portray the United States as one of the profound growth avenues of oxygen cylinders and concentrators market. In fact, as per the estimates, in the year 2016, U.S. procured 85% of the regional industry share, backed by the huge patient pool suffering from respiratory ailments. As per reliable estimates, more than 10 million of the U.S. population suffer from COPD (Chronic Obstructive Pulmonary Disease).
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Elaborating further about the geographical trends with regards to oxygen cylinders and concentrators market, Asia Pacific will also emerge as one of the prominent growth grounds in the ensuing years. A large geriatric population base prone to respiratory disorder, increasing pollution leading to lung ailments, and rising popularity of adventure water sports are few of the major drivers fueling APAC oxygen cylinders and concentrators market size. As per the estimates, China and India will be the major revenue pockets fueling APAC industry trends.
Speaking of the competitive landscape, the oxygen cylinders and concentrators market is intensely fragmented with a plethora of new entrants sharing the business space. Amidst the intense market share battle, product innovation is projected to be one of the major parameters underlining the sustainability quotient of the industry players. In this regard, the developing economies can prove to be an opportunistic investment spot for the industry players, owing to the huge product demand-supply gap in these regions. Some of the renowned names contending a strong portfolio in oxygen cylinders and concentrators market include Chart Industries, Invacare, Inogen, Catalina Cylinders, Philips, HERSILL, Air Liquide, and Cramer Decker Industries.
However, one of the impeding parameters for the oxygen cylinders and concentrators industry remains the high cost of these devices. In addition, some of the claimed operational hazards associated with improper storage of these devices are also impacting the industry growth trends. Nonetheless, the incessant efforts by the industry players with regards to combating these restraints is set to fuel the market expansion in the coming years. Moreover, the increasing population suffering from respiratory disorders further validates that the oxygen cylinders and concentrators market demand will continue to witness commendable gains, in turn establishing a phenomenal profitability landscape. In terms of revenue, Global Market Insights, Inc. projects the oxygen cylinders and concentrators market size to surpass USD 4.5 billion by 2024.
Author Name : Shikha Sinha