Precision medicine market to witness a double-digit growth rate over 2017-2024, U.S. to majorly stimulate the regional demand
Japan Precision Medicine Market, By Technology, 2013 – 2024 (USD Million)
As of today, next generation sequencing (NSG) technologies have been making their mark in precision medicine industry, driven by reduced expenditure, understanding of the genetic know-how of diseases, and high throughput sequencing. The prevalence of NSG technologies may specifically have an impact on U.S. precision medicine market, given the vast expanse of the healthcare and medical research verticals across the region. Driven by the substantial adoption of NGS panels in precision medicine, U.S. accounted for the largest regional share of precision medicine market in 2016. The U.S. government has also been enforcing regulatory norms and undertaking favorable initiatives to generate awareness among the populace regarding the benefits of the precision medicine approach which would further help augment U.S. precision medicine market.
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Regional governments have been going the whole hog to promote the usage of precision medicine systems via funding and private-public partnerships. In Australia for example, the government has been providing substantial funding to numerous companies and upcoming entrepreneurs to invest in precision medicine industry and the 3D printing technology. Initiatives of a similar kind undertaken by governmental bodies across numerous geographies are likely to augment the overall precision medicine market. Speaking of which, NanoString Technologies, Novartis, Intomics, Biocrates Life Sciences, Tepnel Pharma Services, Roche, Silicon Biosystems, Ferrer InCode, Novartis, LabCorp, Quest Diagnostics, and Medtronic are some of the names that have been accumulating a commendable share of precision medicine industry.
Research institutes have been giving substantial preference for precision medicine given that the technology helps diagnose children with cancer. The computational approach of precision medicine to share the patient’s database across the globe will transform the healthcare sector over the coming years. In addition, precision medicine has the capability to enhance personalized healthcare through disease detection at an earlier stage and supplying sufficient information regarding the progression of disease. Speaking along the same lines, it is prudent to mention that the quality, affordability, and accessibility of healthcare systems has improved substantially due to the emergence of precision medicine. The surging adoption of this technology for care delivery, clinical outcomes, operational performance, and clinical workflows will thus propel precision medicine industry share in the forthcoming years. According to a precision medicine market research report put together by Global Market Insights, Inc., this business vertical is slated surpass a revenue collection of USD 96 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Service robotics market to amass hefty returns from logistics applications, tech advancements to characterize the product landscape
Powered by the robust industrialization trends, service robotics market has been escalating at an astonishing rate over the recent years. The technology has established its stance as an interface between industry and service sector and has garnered a mass popularity across a plethora of domains like defense, healthcare, entertainment, household, and logistics. If reports are to be relied on, the commercialization matrix of the business space has taken a prominent turn in the recent years, courtesy – the significant proliferation of IoT, cloud, Artificial Intelligence, and machine learning. In fact, as per estimates, global shipments of service robots surpassed 7.5 million units in 2016 and is further anticipated to witness a remarkable y-o-y growth of 20% over 2017-2024.
China Professional Service Robotics Market Share, By Application, 2016 (Units)
Logistics applications to witness continued growth
The introduction of service robots in logistic operations is deemed to be one of the most significant qualitative shifts in this domain. The paradigm transition in operational interlinking is undoubtedly bringing new opportunities for service robotics market from logistic application. Autonomous Guided Vehicles (AGVs) is one of the finest examples of the robotics breakthroughs in logistics sector. AGVs can reportedly be operated without much human intervention and are significantly increasing the safety quotient of the automobile.
With further enhancements in this technology, the sector has witnessed yet another revolution – AIVs (Autonomous Intelligent Vehicles), enabling greater autonomy, longer battery life, and more flexible & scalable robotic system. Increasing deployment of such robots in indoor as well as outdoor logistics applications for ensuring a better operational efficiency has in turn, fueled service robotics industry growth. Estimates claim that logistics applications contributed over USD 1 billion to the global service robotics market landscape in 2016.
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The personal sector has turned to be another prominent application vertical for service robotics market, especially with the increasing deployment of household and entertainment robots. Rising penetration of vacuum cleaners, lawn cutters, and other similar robots for carrying out the tasks that are often routine for humans, has been identified as a turning factor uplifting household service robotics application. In fact, as per estimates, personal applications accounted for 36% of the overall service robotics market size in 2016. With advanced technologies like speech, emotion, and facial recognition features coming onboard, this particular business vertical is likely to tread along a lucrative growth path over the ensuing years.
Elaborating on the tech intervention in household sector, the contribution of iRobot Corporation, one of the leading names in the robot cleaning world, is worth mentioning. The company has always been at the front page with its continuous adoption of advanced technologies for enhancing consumer experience. It has recently introduced its iAdapt 2.0 Responsive Navigation system that is integrated with Alexa –strongly emphasizing on voice as a better interface than touch. Reportedly, the vacuum cleaner not only recognizes voice or speech but also has the capability to digitally map the interior of house while cleaning the floor. As per analysts’ speculation, the birth of such groundbreaking technologies is bound to lucratively drive the product terrain of service robotics market over the coming years.
Speaking of the competitive landscape, service robotics industry is highly fragmented in nature with the participation of leading players like Parrot SA, 3D Robotics, Softbank Robotics, AeroVironment, Inc., DJI, Intuitive Surgical, Inc., Bluefin Robotics, and Samsung Electronics. Quite conspicuous from the aforesaid trends, these industry participants are increasingly focusing on developing technologically advanced products with enhanced functionalities in tandem with the tried-and-tested growth strategies such as R&D, collaborations, M&As, and product expansion. All in all, with organizations progressively looking to tap into the power of robotics for customer service, the global service robotics market is certain to bag massive proceeds in the years ahead. The presumption is aptly validated by Global Market Insights, Inc.’s forecast which claims service robotics market share to exceed a valuation of USD 22 billion by 2024.
Author Name : Ojaswita Kutepatil
Rise in baby healthcare issues and disposable incomes drives Styrenic block copolymer (SBC) market growth
Styrenic Block Copolymer(SBC) Market size was more than $1.96 million tons for 2015 and is predicted to register CAGR of more than 4.52% by end of forecast timeframe. Baby diapers industry size is predicted to cross $64.2 billion by end of 2023 from $39 billion for 2014, with projected profit at 6% by end of forecast timeframe. Rising baby healthcare issues along with rise in purchasing capacity are key aspects driving industry growth.
These are primarily utilized to produce tabs, waistbands, leg elastics ,side panels and landing zone in diapers. Enhanced comfort and best fit size of diaper due to elastomeric substances led producers to accept compounds like SEPS, SBS, SEBS, SEEPS and SIS which promoted demand for the product. Styrenic block copolymer (SBC)compounds contribute about 40% to 80% by mass of total baby diapers.
Latin America and APAC Styrenic block copolymer (SBC) market share can grow substantially in terms of baby diaper use. Rise in population along with increase in disposable incomes is predicted to influence the regional industry growth.
Approvals from U.S. Pharmacopoeia and FDA(Food & Drug Administration of U.S.) to make use of the compound in medical sector due to less dependence on PVC(Polyvinyl chloride) is predicted to fuel Styrenic block copolymer demand.
High resistance, transparency, design versatility, exceptional thermal stability, easy sterilization by gamma irradiation and mutagenic potential are main features promoting industry growth. Key raw substances, natural gas and crude oil are involved in production of SBC(Styrenic block copolymer). Varying raw material costs due to political instability can adversely impact industry trend.
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SBS product segment dominated the industry in terms of size and produced greater than $4.51 billion revenue for 2015. Rapid baby diaper segment growth and fast expansion of footwear section due to rising customer affordability are predicted to influence the demand of product.
Hydrogenated product segment is predicted to acquire greater than 5.6% of growth in terms of size by end of 2023. Growing trend to obtain sustainable sealants & adhesives in construction sector is predicted to nurture the growth of the segment.
The industry is segmented into various applications like footwear application and roofing & paving application.
Footwear application segment is predicted to register greater than 4% of CAGR by end of 2023. High resilience strength and material sustainability are few of the properties promoting the demand for this segment. Shift in purchasing trend and tendency to adapt footwear for different reasons is another key aspect driving the product demand.
Roofing & paving application segment was evaluated at more than $1.96 billion for 2015. Construction sector growth along with increasing customer choice for personalized home interiors are key driving aspects favorably influencing the segment.
APAC dominated Styrenic block copolymer market and was evaluated at more than $2.66 billion for 2015. China contributed maximum regional industry share during the year.
Fast industrialization along with growth of production sector due to easy availability of skilled labor are main factors driving demand for compound. China is one of the key footwear producing nations succeeded by India. Growing SBC use in footwear is predicted to favorably affect industry growth in the region.
U.S. led the North American industry in terms of size. It is predicted to register more than 4.23% CAGR during forecast timeline. Approval given by FDA to use SBC in production of medical devices is key driving aspect stimulating product demand.
Large scale investment in building & construction segment in UAE and Saudi Arabia is predicted to boost the MEA(Middle East & Africa)Styrenic block copolymer market expansion. MEA is predicted to register greater than 4.81% CAGR during forecast timeframe.
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Key industry players profiled in the report include Kraton Performance Polymers, En Chuan, Zeon Corporation, Asahi Kasei, Styrolution, Dynasol Elastomers, LCY Chemical Corporation,, LG Chemicals, Chi Mei Corporation, BASF, Versalis, TSRC, Momentive Specialty Chemicals, Chevron Phillips, JSR Corporation, Sinopec and Kumho Petrochemicals.
Heat Transfer Fluid Market to accumulate substantial proceeds from CSP applications, product differentiation to characterize the competitive landscape
Heat Transfer Fluid Market has been gaining an edge successfully in terms of revenue streams and profitability quotient, given the increasing penetration of concentrated solar power in the renewable energy matrix. In fact, it would not be overstated to assert that the key to success of any CSP plant majorly grounds on the quality of heat transfer fluids that are being utilized in running the plant, pertaining to the fact these fluids transfer heat from one component to another and finally to the power block, where the heat energy is converted into electricity. Global concentrated solar power installed capacity has witnessed a growth of 1.56% over 2015-2016, reaching almost 5017 MW by the end of 2016, claims CSPPLAZA research center, China. Not to mention, the aforementioned statistic has left a perpetual influence on the demand curve of heat transfer fluid market, with CSP having chronicled the title of the most lucrative revenue ground for the overall business fraternity. As per estimates, heat transfer fluid industry from CSP application is slated to record a CAGR of 7% over 2017-2024.
U.S. Heat Transfer Fluid Market, By Product, 2013-2024, (Kilo Tons)
One of the pivotal factors responsible for the massive growth of heat transfer fluid industry is its widespread end-use spectrum. Practically almost in every industrial process ranging from food & beverage and plastics to pharmaceuticals and oil & gas sectors, the requirement of highly efficient heat transfer is quite profound. While heat transfer efficiency can be improved by several methods including incorporation of vibration in heat transfer surfaces, deployment of microchannels, and utilization of extended surfaces, increasing the thermal conductivity of working fluid is claimed to be the most pronounced approach that wins a mass popularity. In response to the material’s extensive utilization in majority of the industrial sectors, companies involved in heat transfer fluid market have been heavily investing in R&D activities to come up with innovative cutting-edge solutions. Taking into account the pace of innovation that is expected to continue with technological proliferation, heat transfer fluid industry is forecast to experience a renewed dynamism with regards to product differentiation, business models, and manufacturing processes.
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Say for instance, advancements in nanotechnology has led to emergence of a new class of engineered fluids, that are mainly produced by the amalgamation of nanomaterials in conventional heat transfer fluids. The so dubbed nanofluid, took heat transfer fluid industry space by storm when its unrivaled combination of unique benefits came to light. The nanoparticles that are uniformly distributed in the base fluid are claimed to improve the thermal conductivity by increasing the convection and conduction coefficients, thereby ensuring a more efficient heat transfer. Much efforts have been already taken to exploit the potential opportunities of nanoparticle – enhanced thermal fluids with regards to heat transfer. Recently, a research team led by Siberian Federal University in collaboration with Spanish scholars have proclaimed that TiO2 (titanium oxide) nanofluids could outpace other analogous materials in heat transfer applications that are presently in solar power stations. Amidst the backdrop of a scenario where renowned giants have been striving to bring innovative products in the foreground, titanium oxide nanofluid would certainly prove to be remunerative for the overall heat transfer fluid market.
Worldwide, heat transfer fluid industry is quite consolidated with renowned biggies procuring almost three fourths of the global share. Statistics depict that the presence of Dow Chemicals is rather dominant, covering almost 28% of the marketplace in 2016. While industry giants seek immense growth in the years ahead, a wide array of daunting challenges might hinder the business proliferation to some extent. Volatile crude oil price trends and stringent government regulations with regards to the toxicity of product are two major constraints that heat transfer fluid market players are presently dealing with. Despite these challenges, market investors are making big bets in research activities in a more progressive approach, vividly coherent from the agreements, mergers & acquisitions, product launches that are quite common in heat transfer fluid market ground. In terms of profitability, Global Market Insights, Inc. forecasts overall heat transfer fluid industry to exceed a valuation of USD 4 billion by 2024.
Author Name : Satarupa De
X-ray security screening system market to garner remarkable proceeds from the government sector, massive demand for border protection to impel the industry landscape over 2017-2024
Given the increasing number of terrorist & anti-social activities across the globe, it is no surprise that X-ray security screening system market has been gathering rapid momentum in recent years. Legal authorities no longer consider it safe to permit luggage or cargo remain unchecked through transit areas or highly populated commercial spaces like malls or movie theaters, as terrorist attacks have time and again demonstrated that arms can be easily transported across vulnerable points. On these grounds, X-ray security screening system industry is gaining massive popularity, as contraband items like drugs, weapons, and astonishingly, even humans are being illegally transported across borders, which undeniably requires to be halted in order to ensure safety and protection across the country.
China x-ray security screening system market size, by end-use, 2016 & 2024 (USD Million)
Post the 9/11 attacks in the US, legal authorities have come to recognize terrorist attacks in a new light, that has led to the revamping of transit security to unprecedented levels, impelling X-ray security screening system market share. With the reinforcement of security conditions, especially at vulnerable areas such as airports, X-ray security screening system market size has indeed depicted a major rise. To ensure that products such as knives, explosives, guns, scissors, ropes, etc., (effectively banned from being carried on airplanes), are not actually crossing the safety borders, novel technology is being developed for scanning luggage in the most effective manner to easily detect these objects in bags and suitcases, thereby providing an impetus to X-ray security screening system industry players. The advancements across X-ray security screening system market has had a profound impact on global airport security industry as well, considering that airports seem to be the soft targets for terrorist attacks.
It is imperative to note that organic and inorganic substances are facilitated to be detected separately in X-ray security screening systems, as most explosives are organic. On the other hand, X-ray images of such contraband objects can clearly point them out to airport security staff who can then take necessary steps to assure the security of other passengers. Many airports are also employing full body X-ray scanning of passengers to detect weapons or banned objects being carried on the person, thus adding another growth dimension to X-ray security screening system market.
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It has been observed that security measures have also been strengthened in malls, places of worship, museums, movie theatres, and other places that attract a large number of people together in enclosed spaces, given that terrorists often use civilian crowds as soft targets. On these grounds, it is imperative to state that X-ray security screening system industry has received a significant boost from myriad public places that have consolidated their security systems, especially at the entryways, where baggage is scrutinized under X-rays to identify harmful and illegal objects.
Security threats are indeed prevalent across the globe, however, since international trade activities cannot be hampered due to the same, X-ray security checks are being heavily reinforced to scrutinize cargos and other goods for the protection of human lives and property. Thus, X-ray security screening system market share is projected to witness commendable growth with government and security authorities identifying locations that pose major security risks and subsequently deploying of X-ray systems to safeguard these locations against human trafficking, drugs and weapons transport, and other illegal activities.
Despite the best of efforts undertaken by security personnel and modern technologies, security systems have often failed to detect bombs and other weapons – an observation that is potentially encouraging X-ray security screening system industry players to concentrate on research and development programs that will make security checks even more detailed and precise. X-ray security screening system market firms have also been focusing on enhancing the functionality of X-ray security screening systems to reduce detection time, helping passengers to avoid the hassle of transit security checks. In essence, subject to the protection and convenience offered by X-ray scans and the robust demand for national security, X-ray security screening system market outlook is likely to witness a major transformation over 2017-2024.
Author Name : Paroma Bhattacharya
Increasing demand for customizable integrated circuits to boost field programmable gate array (FPGA) market demand
Global Field Programmable Gate Array(FPGA) Market size was evaluated at $5.28 billion for 2014 and is predicted to register CAGR of 8.41% during forecast period. Rising demand for customizable integrated circuits as well as from application fields is predicted to fuel industry expansion during forecast timeframe.
Technological breakthroughs are predicted to drive field programmable gate array(FPGA) market share expansion. Arrays can be reprogrammed and posses prebuilt logic gates. They can be configured to execute required hardware functions. Software is created for online computing tasks that can be compiled into configuration file. Hence, when another circuitry configuration is recompiled, resultant FPGA becomes totally reprogrammed for particular application field. Another key advantage of using these chips is application of customized circuits at lesser price. They can also operate as customized microprocessors with associated peripherals.
Use of the FPGA products across many of the end use sectors is predicted to propel industry growth in future. These equipments have in-built RAM which functions as a system central processing unit(CPU) and performs digital signal processing operations like image intensification and signal processing in smart phones. They are utilized for many purposes in flat panel displays that includes panel controller, display panel applications, video processing, battery management, video board and operating mode.
FPGA programming technology is also used in healthcare segment for medical imaging device due to high performance computing requirement. General diagnostic imaging instruments comprise CT scanners, X-ray, nuclear medicine imaging, mammography device, MRI(magnetic resonance imaging) and ultra sound device. Benefits provided by the programming technique in digital signal processing as compared to other processors makes it a good alternative for most devices consisting volume imaging conducted in current generation PET(Polyethylene terephthalate) equipments.
However, design complexity and ASIC which can be used as alternative are predicted to hamper industry expansion in future. Growing reputation of medical electronics and rising demand from APAC zone is predicted to provide numerous growth avenues to the industry participants during forecast timeframe.
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The industry is segmented into various applications like telecomm and automotive. Telecomm sector contributed greater than 33% of the total FPGA(field programmable gate array)market share for 2014 and is predicted to maintain its domination in future. Heavy demand of bandwidth for video applications and growing use in base stations for 3G network to LTE network up gradation are few of the factors credited for sector growth.
Rising number of integrated circuits in vehicles is predicted to be a key aspect for automotive sector. Further, favorable government regulations for hybrid and electric vehicles to minimize green house emissions are predicted to positively affect sector growth. It contributed for more than 17% of total FPGA((field programmable gate array) industry share for 2014 and is predicted to expand at CAGR of greater than 8.5% during forecast timeframe.
APAC FPGA(field programmable gate array)industry size was evaluated at about $2.2 billion for 2014 and is predicted to surpass $4.3 billion by end of forecast timeframe. Countries like Taiwan, China, India, South Korea and Japan substantially contribute towards automotive sector and consumer electronics segment and this is the reason for industry growth in the region.
U.S. FPGA(field programmable gate array)market contributed more than 25% of the total revenue share for 2014. Large scale investments in aerospace and defense applications along with growth of telecommunications sector is predicted to fuel regional industry expansion during forecast timeframe.
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Key industry players profiled in the report includes Microsemi Corporation, Aeroflex Incorporation, Lattice Semiconductor, Achronix, Cypress Semiconductor, Xilinx Incorporation, Achronix Semiconductor Corporation, Atmel Corporation, Tabula, Altera Corporation, Intel Corporation, Texas Instruments and QuickLogic and Xilinx.