Global refinery catalyst market to benefit from increased oil refining capacity in developing nations, government mandates for greener fuel to drive the industry progression

Posted on

Increasing demand for reformulated gasoline has played a significant role in strengthening the refinery catalyst market, with stringent emission control regulations and environmental laws being implemented. Blended on the chemical level to burn more cleanly and efficiently than conventional fuels, reformulated gasoline is attributed with the benefit of reducing toxic pollutants and smog-formation in our air. The refinery catalyst industry is gradually aligning with the increased petroleum production resulting from the resurgence of oil & gas industry, in the process of stabilizing after a tremendous downfall earlier in the decade. With an attempt by major refineries worldwide to comply with fuel standards, achieve operational efficiency and enhance the fuel output with minimum emissions, the refinery catalyst market can soon be expected to achieve escalated consumption rates.

China Refinery Catalyst Market Size, by Type, 2014 – 2025 (USD Million)
China Refinery Catalyst Market Size, by Type, 2014 – 2025 (USD Million)

A key incentive towards the growth of the refinery catalyst industry is a global population that is multiplying exponentially, impelling the fuel demand for use in transportation & industrial power generation. Reportedly, the transportation sector, comprising of automobile, aviation and marine is responsible for more than 60% of the total fuel utilization. Considering the prediction by the United Nations that indicates reaching a global population of over 9.8 billion by the year 2050, one can only surmise the amount of resources that will be required to support the extensive energy needs of the future. With China and India being the most populated nations, the Asia-Pacific refinery catalyst market apportioned for over 30% of the overall industry owing to the cumulative reformulated fuel consumption. As these two countries are expected to remain the top two inhabited nations going forward as well and are introducing tighter legislations to curb emissions, the Asia-Pacific belt is slated to contribute enormously to the refinery catalyst market.

In an example showcasing the potential of Asian refining catalyst industry, ExxonMobil recently announced about its discussions regarding a multi-billion dollar expansion of its clean fuel outputs at the Singapore refinery. The Singapore complex is one of Exxon’s largest production site for fuel, lubricants and chemicals and the project is aimed at increasing its output of fuels that comply with the International Maritime Organization’s global sulphur limit. The venture demonstrates the outlook of international oil & gas corporations towards the promising Asia-Pacific market, giving a thrust to the refinery catalyst industry in the region.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2668

Another instance that envisions a growing refinery catalyst market is the cooperative venture between Indian Oil Company and Saudi Aramco, recently joined by the Abu Dhabi National Oil Company (ADNOC) which will buy 50% of Aramco’s share in the venture. The project is aimed at building a USD 44 billion refinery and petrochemical complex in the coastal city of Ratnagiri, India. The refinery is a part of the country’s target to achieve a refining capacity of over 9 million barrels by the end of 2030. Similar expansions can be observed across other Asian countries, where oil companies are working to cater the pumped up demand for fuel and also adhere to the environmental mandates, boosting the worldwide refinery catalyst market.

The expansion of refining capacity is anticipated to be at a faster pace in developing countries than in developed countries, as more efforts are being made by them to tap into available resources within their territories. According to the Kazakhstan government, the nation is planning to export surplus gasoline product to Asia and other nearby regions. Besides, the Shymkent Oil Refinery will have a fluid catalytic cracking unit installed by September to support the high octane gasoline productions, along with modernization at other oil plants. Needless to say, with smaller nations taking big leaps towards producing low-emission high-throughput fuel, the refinery catalyst market will be characterized by a renewed dynamism in the coming years.

As evident, the prospects of the refinery catalyst industry largely depend on the oil producing and refining capacity of regions, which explains why North America held the prominent 40% of the global share in 2017. Specifically, the U.S. is reported to have the highest refining capacity in the world with an ability to produce 18.5 million barrels per day.

The global refinery catalyst market is bursting with several corporations and oil services companies that enable the enrichment of crude oil or petroleum, with innovations to better the existing technologies being made. For instance, BASF catalysts declared the commercial launch of an evolved catalytic cracking catalyst, Boroflex, designed to optimize the bottoms upgrading and distillation yield of refineries. Owing to such developments in the field of refining processes and stricter norms to be implemented by government organizations, the refinery catalyst market is estimated to witness a CAGR of 3% from 2018 to 2025.

Author NamePankaj Singh

Advertisements

A competitive overview of green data center market: heavy investments in green infrastructure development to augment the industry expansion over 2018-2024

Posted on

Green data center market is gaining immense popularity lately with the rise in concerns about the increasing energy costs impacting operational and economic efficiency. Most companies are presently implementing strategies to improve cooling and power infrastructure which is one of the vital factors influencing organizational performance, reliability, and serviceability. The shifting trends toward the deployment of green data centers for storing, managing, and distributing information have helped many software companies reduce energy consumption as well as the total energy cost. In fact, energy conscious companies are heavily investing in development of these centers for regaining cooling and power capacities, thereby providing impetus to green data center industry share.

Germany green data center market size, by solution, 2017 & 2024 (USD Million)
Germany green data center market size, by solution, 2017 & 2024 (USD Million)

Though expensive, considering the long-term benefits of this technology, numerous companies ranging from internet giants to automotive biggies and manufacturing firms to software companies have been involved in green data center infrastructure development. The paragraphs below succinctly elaborate the contribution of myriad companies propelling efficient data center industry share.

In 2018, the leading industry behemoth, Siemens signed a deal with the Irish renewable energy contributor, CES Energy for providing on-site electrical generation services for data centers of various technology multinationals located in Ireland. This on-site energy generation is touted to be rather beneficial for data centers in terms of reducing carbon footprints and energy costs, in addition to helping them meet their data center timeframes with the supply of reliable power. The incidence validates that the availability of renewable energy facilities ensuring on-site generation assistance for achieving emission targets will prove to be a key factor reducing the carbon emissions across Ireland, strengthening green data center market trends.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2420

Ireland seems to be an ideal location for the establishment of data centers pertaining to climatic conditions, on the grounds of which green data center industry players have been focusing on facility expansion across the nation. Taking into account the shifting focus of technology companies, the regional government is striving to establish Ireland as the European data capital. A few months earlier, the renowned e-commerce contributor, Amazon received approval from the Ireland government to construct a new data center facility in Dublin. The government provided land of 223,000 square feet for the center and an investment of EUR 200 million, with the help of which Amazon plans to establish seven data centers. The implementation of high-profile projects such as the aforementioned is certain to propel Ireland effective data center market.

Presently, many tech giants are looking forward to investing in data center infrastructure development across well-established industrial parks. Through this business expansion strategy, these companies plan to facilitate most of the energy so generated for enhancing operational efficiency. Validating the aforementioned fact, recently, social media giant, Facebook made it to the headlines for planning to invest USD 750 million to develop a data center facility in Huntsville based in Alabama after receiving approval from the local officials. In order to supply power to this facility, Facebook plans to use 100% energy from renewables. The company’s strategy is certain to help Alabama achieve economy benefits, as it is touted to receive about USD 300 million in new tax revenue from Facebook’s future data center over the coming 30 years. It is thus overt that massive investments in renewable data center facilities are likely to impel green data center market size across several geographies.

In addition to already established behemoths like Google and Facebook, many start-up companies are also entering green data center market. For instance, the U.S.-Norwegian start-up company, Kolos is planning to build the world’s largest data center in Northern Norway that will apparently use local hydropower and chilled air for minimizing energy costs. In order to develop this 600,000 sq/m, four-storey green data center building, Kolos has raised funds from the U.S. investment bank and several Norwegian investors. The start-up company declared that this project will be one of the world’s largest green data center as this plant will receive all the required energy from wind and hydropower, which will reduce energy costs by 60% and provide cost-effective benefits to customers.

The increasing awareness regarding green energy among the regulatory bodies of various topographies is certainly a pivotal factor driving green data center market share. In fact, most of the European countries have already implemented strict regulatory norms to encourage the adoption of renewable energy facilities. In this regard, myriad technology contributors have also started deploying renewable energy powered data centers, which has considerably pushed product demand. The continuous investments in facility expansions for achieving higher working efficiency with the reduction of overall operational cost is likely to boost green data center industry share. For the record, by the end of 2024, green data center market will collect a revenue of USD 25 billion.

Author NameSunil Hebbalkar

APAC Vacuum Pump Market to chart a profitable roadmap over 2018-2025, advanced product launches to characterize the competitive spectrum

Posted on

In an era where harmful emission reduction is being continuously propagated, the vacuum pump market trend is set to undergo a consequential transformation in the years to come. The changed merchandizing spectrum of the business space is aptly validated through a recent instance, when Leybold GmbH, a part of the Swedish Industry Group, Atlas Copco, unveiled its latest VARODRY vacuum pump series. This newly launched dry vacuum pump range that has been brought forth by the giant at this year’s ACHEMA, is claimed to be incorporated with an emission free ventilation. Allegedly, since this vacuum pump is absolutely oil-free and dry, it avoids any type of oil adulteration and particle emission, making it an absolute choice for industrial applications. Leybold’s initiative sheds a positive light on the sustainability trend and the up-to-the-minute developments that vacuum pumps market is presently characterized by.

Germany Vacuum Pump Market size, by end-user, 2014 – 2025 (USD Million)
Germany Vacuum Pump Market size, by end-user, 2014 – 2025 (USD Million)

This new vacuum range has already garnered rave reviews in the business space on grounds of its compact design and highly reliable performance with low capital investment and operating cost. Given the fact that it neither requires compressed air nor cooling water for its operation, handling the pump is quite easy. The pump is claimed to ensure uninterrupted operations without system downtimes. Undoubtedly, the product launch has remarkably strengthened Leybold’s stance in the vacuum pump market.

Yet another instance depicting the efforts undertaken by major companies to increase the efficacy and performance level of vacuum pumps, Edwards Group Limited recently released its latest single stage rotary vane vacuum pumps, the nES EX series. According to the UK based firm, this enhanced version of rotary vane technology is specifically designed to operate in environments that are potentially explosive in nature. Apparently, this articulately designed nES EX 40-630 series is likely to amass a huge popularity in the market especially from chemical processing sector. The product which is claimed to offer safer and cleaner real-world operations is another breakthrough model underlining the innovation and development opportunities underlining the vacuum pumps market landscape.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2667

It is prudent to mention that the profitability quotient of vacuum pump industry is extensively influenced by the robust growth of chemical processing and manufacturing sectors. Estimates suggest, global chemical industry would nearly record a valuation of USD 5.5 trillion by 2025. Chemical processing verticals like oleochemical, petrochemicals demand highly advanced vacuum technology, as these sectors are mainly characterized by challenging operating environment. Mostly what has been observed from past five years trends, chemical companies mainly deploy dry vacuum pumps that can be utilized for a broad range of processes. Some of the chemical giants are also inclining toward vacuum pumps that not only ensure flexibility, reliability, and efficacy, but also feature minimum maintenance and set up. Ergo, it can be said that chemical processing sector would prove to be a viable growth avenue for vacuum pump industry in the years ahead, in terms of new opportunities and product innovations.

Geographically, Asia Pacific exhibits a strong contendership in the global landscape becoming one of the top-notch investment spots for industry players. The extensive proliferation of chemical processing sector in this belt can be a cited as a major factor propelling the regional demand. In fact, estimates suggest, APAC procured nearly 50% of the global vacuum pump industry share in 2017, with China and India at the helm. Reportedly, India is estimated to record a CAGR of 7% over 2018-2025, while China vacuum pump market is forecast to surpass USD 2 billion by 2025.

While a vast application spectrum and favorable geographical opportunities underline this business space, lack of proper technical knowhow about how to run the pumps which often leads to machine damage is one of the major challenges in the vacuum pump market growth. However, in a bid to combat these challenges, modern day manufacturers are organizing myriad training programs for the operators to ensure a longer product lifecycle. With increasing investments by manufacturers in these initiatives and approaches, vacuum pump industry undoubtedly would be one of the most opportunistic business spheres to watch unfold. Speaking of the commercialization potential of the entire business space, Global Market Insights, Inc., forecasts overall vacuum pump market to exceed a valuation of USD 6.5 billion by 2025.

 

Author NameSatarupa De

An overview of Soundproof Curtains Market in terms of the application spectrum: rising product demand from the commercial sector to fuel the industry growth over 2018-2024

Posted on

Soundproof curtains market has been registering a commendable growth rate in the last few years, owing to the product’s increasing popularity from offices to kids’ rooms and restaurants to home theaters. Fueled by changing lifestyles and the increasing need for soundproof surroundings, the demand for these curtains has been escalating lately. The ongoing infrastructural developments across commercial as well as residential sectors will also have a favorable influence on soundproof curtains industry share.

U.S. Soundproof Curtains Market, By Application, 2017 & 2024, (USD Million)
U.S. Soundproof Curtains Market, By Application, 2017 & 2024, (USD Million)

It is essential to mention that in addition to residential applications, the rapid industrialization across the globe has also been etching a favorable impact on the requirement for these curtains, particularly in huge corporates for reducing workplace stress due to high noise levels. Indeed, this has emerged as one of the popular drivers for soundproof curtains market lately. Owing to the adverse effect of workplace noise generation on health, many employees have been found to raise complaints, despite the provision of sound cutting headphones and earbuds. This led to a major requirement of a wall-like separation for curbing the noise, post which sound absorbing curtain designs gained traction. The increasing popularity of sound absorbing designs for enhancing office productivity is slated to stimulate soundproof curtains market size over the years ahead.

Currently, soundproof curtains are deployed heavily across the residential, commercial, and industrial sectors, and may majorly contribute toward generating growth opportunities for soundproof industry players, a gist of which is elaborated below:

Soundproof curtains market trends across the residential sector:

In an era characterized by enormously changing lifestyles, the masses seem to be giving preference for privacy and discretion. This has naturally led to a spike in the demand for soundproof curtains, especially in home theaters where there is quite some chance for noises to escape into other rooms. Instead of considering the installation of soundproof walls, it has been observed that an effective way to reduce echoes and reverberation, as well as interference from outside noise is to block the sound by installing soundproof acoustical curtains.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2660

In the U.S., most of the populace, especially in cities, stay closer to an atmosphere surrounded by noise. In accordance, people are just looking forward to deploying soundproofing facilities at their homes, to escape from the jarring, noisy environment. As more of the mainstream population continues to remodel their homes with modern design trends to increase comfort, soundproof curtains market in the U.S. is likely to attain appreciable returns by 2024.

Speaking along the same line, the need for comfort is not restricted solely for adults but also for infants, enabling giants in soundproof curtains market to tap into the lucrative opportunities offered by this vertical. More precisely, newborns are known to be disturbed continuously owing to external noises such as car horns, barking dogs, and door slamming. In this regard, homes, nurseries, and even daycare centers have been working to sound-block kids’ rooms, thereby helping soundproof curtains market carve out a rather profitable growth path over 2018-2024 from sound-blocking curtains. As per estimates, sound-blocking soundproof curtains market size is expected to cross 300 million square meters by the end of 2024.

Soundproof curtains market trends across the commercial sector:

Driven by the interest of many investors in commercial projects in the improvement of design infrastructure, soundproof curtains market is witnessing commendable product demand from the commercial arena. In many restaurants and hospitals, in order to eliminate the generation of harsh echoes and noise from various machinery and equipment, soundproof curtains have been installed on a large scale. The deployment of such curtains seems to help guests who suffer from communication mishaps, thereby propelling soundproof curtains industry share. Further benefits such as customization and easy installation of sound paths to block or reduce the echo and reverberation in a room are also poised to stimulate the market from commercial applications.

Soundproof curtains market trends across the industrial sector:

Working environments in most of the industrial workplaces comprise a high noise level, leading to a negative impact on the health of workers. Taking into consideration the severity of industrial noises from the equipment such as concrete cutters, jack hammers, and other metal working machinery, regulatory organizations are enforcing norms mandating companies to deploy soundproofing facilities. In order to comply with the regulatory framework, on most of the construction sites, temporary noise barriers such as sonic curtains, sound barriers, noise curtains, and noise reduction curtains are extensively being deployed.

This escalating deployment of noise barriers at several constructions cites to reduce the operational noise level is poised to push soundproof curtains market trends. For the record, aided by the growing constructional activities across the globe, soundproof curtains market size from the industrial sector is predicted to register an annual growth rate of more than 6.5% over 2018-2024.

Endowed with a widespread application scope across the residential, industrial, and commercial sectors, the players in soundproof curtains market plan to establish a strong product portfolio to acquire profitable returns. As the global population steers toward increased privacy and solitude, industry giants are getting more lucrative opportunities to install soundproof facilities on large scale. For the record, by the end of 2024, soundproof curtains market will generate revenue of over USD 2.5 billion.

Author NameSunil Hebbalkar

A concise outlook of prenatal and new-born genetic testing market in terms of product innovations, U.S. to emerge as a major revenue pocket

Posted on

Sema4’s latest DNA screening test is a typical precedent underlining the advancements across prenatal & new-born genetic testing market. Recently launched, this pioneering DNA screening test, dubbed as Sema4 Natalis, is particularly designed to detect nearly 193 childhood onset genetic diseases, using highly advanced next generation DNA sequencing. Reportedly, the test would be also including a complete pharmacogenetic analysis of how a newborn is likely to respond to the 38 medications that are commonly prescribed. Indeed, this supplemental newborn screening test is touted to be one of the most futuristic ones of its kind to have been released in prenatal and new-born genetic testing market , especially against a backdrop where nearly 7.9 million infants globally are detected with birth defects.

U.S. Prenatal and New-born Genetic Testing Market, By Technology, 2013 – 2024 (USD Million)
U.S. Prenatal and New-born Genetic Testing Market, By Technology, 2013 – 2024 (USD Million)

The United States: One of the top-notch growth avenues for prenatal and new-born genetic testing market

Newborn and prenatal screening was actually initiated due to its potential to prevent severe genetic disabilities. In fact, according to latest report, currently more than 98% of the 4 million newborns in the United States undergo genetic screening annually for over 30 treatable genetic, endocrine, infectious, and metabolic diseases within first week of their birth. Not to mention, this has left a remunerative impact on U.S. prenatal and new-born genetic testing market, which pegged a valuation of approximately USD 2 billion in 2017.

It is therefore irrefutable that the underlining principle that lurks behind the introduction of groundbreaking solutions in prenatal and new-born genetic testing industry is the dire necessity of reducing mortality and morbidity rate in infants having inherent genetic disorders. Experts claim that identifying the heritable conditions at early stage can improve a child’s long-term health and survival. However, as it has been observed, the number and type of genetic disorders that are included in newborn screening vary geographically. Say for instance, presently there are 34 core hereditary conditions and 26 secondary conditions that are recommended by the United States Department of Health and Human Services for newborn screening. Thus, it can be inferred that administrative backup is a major factor influencing prenatal and new-born genetic testing industry outlook.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1906

How advancements in prenatal diagnosis is impacting the overall industry trend?

Corresponding to the continuous intervention of technological advancements, the present practice of prenatal screening, i.e. testing genetic abnormalities even in the fetus, has undergone a dramatic transformation of sorts. Non-invasive cell-free DNA screening for fetal aneuploidy, whole-exome sequencing, chromosomal microarray analysis, and screening for subchromosomal abnormalities, have indeed sent out waves of anticipation in prenatal and newborn screening market. Enlisted below are some of the latest initiatives encompassing this particular business vertical, expected to leave a palpable impact on the overall industry share over the coming years.

  • LifeCell, one of the leading names in India prenatal and new-born genetic testing market, has recently launched ‘Pentastic’ – a prenatal test designed to detect genetic abnormalities in fetus. Allegedly, this ultrasound biochemistry-based blood test is recommended for would be mothers in the first trimester of pregnancy i.e., between 11 to 13 weeks. As claimed by experts, Pentastic test is likely to gain an advantage over other conventional prenatal screening, as it incorporates five analytes (PAPP-A + free hCGß + AFP + Inhibin-A + PIGF), against its contemporaries which include only two analytes. Experts have been already raving about the technology claiming it to prominently disrupt the prenatal and new-born genetic testing industry product terrain.
  • Renowned American molecular diagnostics company Myriad Genetics has recently made to the headlines with its acquisition of Counsyl. The USD 375 million worth deal, reportedly is a strategic move by former to strengthen its portfolio in the rapidly evolving prenatal and newborn genetic testing market with Counsyl’s Prelude test portfolio. Through the alliance, Myriad Genetics would be merging Counsyl’s extensive reproductive health tests and existing preventive care business into a new unit, dubbed as Myriad Women’s Health. For the records, this new unit would be solely focusing on reproductive healthcare providers and OB-Gyns.

It is imperative to mention that the unprecedented advancements in genomic medicine are critically impacting prenatal diagnosis, subsequently boosting prenatal and new-born genetic testing industry size. Of course, the full potential of the business space can only be realized if these groundbreaking innovations are introduced in a substantiation-based ethically responsible manner and securitized after implementation. However, with genetic abnormalities and chromosomal disorders in infants becoming a global concern, prenatal and new-born genetic testing industry, in all likelihood, would reach remarkable stature in terms of innovations and revenue. Global Market Insights, Inc. forecasts the overall business space to exceed a valuation of USD 7 billion by 2024.

Author NameSatarupa De

Genetic Testing Market to be widely influenced by the awareness regarding early diagnosis, application in newborn screening to propel the industry expansion

Posted on

With epic strides taking place in the field of medicine, the genetic testing market is being acclaimed globally for its utility in identifying health risks, recommend suitable treatments and also analyze treatment responses. Genetic testing is also found to be critical in early diagnosis of diseases, which helps in reducing their severity and deploy preventive measures. Growing awareness of early stage detection, availability of specialized tests and the advancements in testing techniques will give an emphatic boost to the genetic testing market, which earned USD 10.6 billion in 2017 worldwide.

U.S. Genetic Testing Market, By Test Type, 2013 – 2024
U.S. Genetic Testing Market, By Test Type, 2013 – 2024

Technically, genetic testing consists of mapping the genes, proteins and chromosomes from a sample of blood or body fluids extracted from a subject. The aim is to identify any genetic diseases that cannot be diagnosed easily, or those which lack the presence of any external symptoms and do not have a firm diagnostic solution. Genetic diseases like Huntington’s disease, haemophilia, cystic fibrosis and sickle cell anemia are some examples which are difficult to diagnose. The prevalence of many fatal diseases like cancer that, without genetic testing, remain undiscovered until too late, make treatments ineffective or futile.

Speaking of the significance of cancer diagnosis, The Institute for Health Metrics & Evaluation (IHME) revealed that in 2016 approx. 8.9 million deaths were caused by cancer, of which reportedly 5-10% were triggered due to genetic mutations inherited by the patient. The mounting cases of different types of malignant diseases such as prostate, lung and breast cancers have stimulated the cancer diagnosis segment within the genetic testing industry, which apportioned a revenue of about USD 5.5 billion in 2017.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2490

A prime characteristic that makes genetic testing an ingenious process is the ability to map the genes up to the lowest molecular level, for determining the host’s uniqueness. It enables doctors to find out any other problems a person has or is at a risk of contracting a certain disease in the future. The unique genetic mutations or traits detected in the tests will help to develop treatments and medicines tailor-made for an individual. Further, depending on what kind of diet & exercise does a person better respond to, a suitable fitness regimen for yielding the best results can be determined.

A distinct example of personalized treatment is a test created for people suffering from depression. As per records, SSQ Life insurance is partnering with BiogeniQ Inc. to offer genetic testing to members taking leave on account of depression. The testing will identify appropriate treatment and reduce the risk of side-effects along with enhancing the results of overall treatments. The augmented preference towards personalized medication and exclusive treatments to counter imminent risks is expected to propagate the genetic testing market.

Apart from diagnosing diseases and offering treatments to adults, the genetic testing industry has started to cater the demand for prenatal testing and newborn screening. Testing during pregnancy assists to identify any diseases the fetuses may have, although not all the possible inherited disorders, and help in parents taking decisions. It also helps to reduce miscarriage risks in early stages of pregnancy, an advantage that will highly influence the genetic testing industry.

Newborns can be tested a day or two after birth to detect any disorders and start treatments early, before any critical stage is reached. For instance, a girl born in Wisconsin, USA in 2003 was diagnosed with having phenylketonuria (PKU), an inherited and treatable metabolic disorder, a few days after her birth. Detected through newborn screening process, the ailment does not allow the phenylalanine amino acid to be processed and if untreated could lead to mental retardation. The parents in this case worked with a dietician to develop special diet and formula which she was then restricted to.

Reportedly, the treatment worked, and the girl grew up without the threatening life-long disability. Many such instances worldwide have displayed the potential of the genetic testing industry in newborn screening, which is also being affected by the growing consciousness regarding hereditary disorders.

The genetic testing market, estimated to show 11.6% CAGR over 2018-2024, has witnessed phenomenal upsurge in terms of technological progress and commercialization.  There are techniques to find out people who are not affected themselves but carry a gene that can induce disease in the next generation. Research in genetic testing is conducted for learning more about the human body and the contribution of genes. A more commonly known use of genetic testing is forensics, where DNA sequences are studied to identify criminals.

A wide area of application and prolific success in the medicine industry has propelled the genetic testing market, constituted of key players like Abbott Molecular, Bayer Diagnostics, 23andMe, Myriad Genetics, Natera, PacBio, Roche Diagnostics, BioHelix among others. In terms of commercialization, the overall fraternity is expected to surpass USD 22 billion by 2024.

Author NamePankaj Singh

Kidney stones management market to derive extensive proceeds via ESWL treatment domain over 2018-2024, U.S. to emerge as the leading growth terrain

Posted on

The worldwide kidney stones management market share has been traversing along lucrative growth path owing to the rise of effective management devices and advanced treatment alternatives such as extracorporeal shock wave lithotripsy and ureteroscopy. In addition to this, one of the most pivotal factors to have driven the fortunes of this business space is the escalating numbers of patients affected with kidney stones disease. As per reliable sources, over 10% of the global populace aged between 20 to 60 years is reported to suffer with kidney stone ailment annually. Apparently, these statistics go on to depict the humongous business opportunities awaiting the firms focused on innovating and introducing new devices in the kidney stones management industry.

U.S. Kidney Stones Management Market Size, by Treatment, 2013-2024 (USD Million)
U.S. Kidney Stones Management Market Size, by Treatment, 2013-2024 (USD Million)

Extracorporeal shock wave lithotripsy (ESWL) to emerge as the most dominant treatment segment to contribute toward kidney stones management industry

Owing to its non-invasive surgical procedure, the popularity of extracorporeal shock wave lithotripsy (ESWL) treatment has been on the rise over the recent years. The prominent manufacturers partaking in the kidney stones management market have increasingly focused on developing ESWL devices that occupy less space and are highly efficient in targeting sources. Moreover, these devices are now being equipped with electromagnetic and piezoelectric sources for generating shock waves – a factor that has significantly influenced the product landscape of kidney stones management industry.

Speaking in the similar context, the latest trend that has been shaping up the ESWL treatment segment is the rising number of acquisitions that has assisted numerous medical device manufacturers to fortify their presence in kidney stones management market. Citing an instance of the same, the U.S. based Olympus Corporation of the Americas has recently inked a definitive contract to acquire the lithotripsy system design and manufacturing technology from Cybersonics Inc. Apparently, the latest take over, in all likelihood, would assist Olympus to reduce overall costs and authorize the servicing of the devices produced by CyberSonics.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2603

For the record, the devices currently being manufactured by Cybersonics include CyberWand and ShockPulse-SE which are highly-recognized to have the capability of fragmenting stones in the ureter, bladder and kidney in a minimally invasive manner. Moreover, these devices are said to produce a constant intermittent shockwave and ultrasonic wave energy to lower procedure time which has been proved to be of immense significance in carrying out non-invasive surgeries.

Considering the positive impact being created by acquisitions and the increasing number of technological advances, the ESWL treatment segment would contribute significantly toward augmenting the commercialization potential of kidney stones management industry. In fact, as per a research report collated by Global Market Insights, Inc., ESWL segment apportioned the over 58% of the total remuneration share of this business space in the year 2017 which aptly demonstrates the large potential this segment holds across the overall treatment space.

In terms of regional growth prospects of kidney stones management market, United States has been the foremost nation across the North American region. With the increasing prevalence and recurrence rate of kidney stones across various age groups of the nation’s populace, the kidney stones management industry share in the country has been flourishing in the recent past. As per reliable estimates, the U.S. garnered more than 90% of the total revenue share of the North America kidney stones management industry which undoubtedly establishes the nation as one of the most profitable growth avenues across the globe.

Elaborating further, the better utilization of advanced disease management procedures such as minimally invasive surgeries, ureteroscopy, and percutaneous nephrolithotomy have been creating plentiful business opportunities for the major firms operating in this business space. This has been complemented with high diagnosis and screening rates which would further propel the U.S. kidney stones management industry in the years to follow, cite analysts.

Rapidly developing medical infrastructure, increasing pressure to limit healthcare expenditure, rising number of unmet medical needs, and a significant opportunity to introduce advanced therapeutic technologies are among the major factors impelling the kidney stones management market in developing nations such as China and India. Add to it, numerous medical device behemoths have been focusing on setting up training centers of their equipment and expanding their operations in these nations which has further fueled the growth prospects of this business space.

With drastic enhancement in image quality due to high-grade digital imaging devices and high-definition cameras, the global kidney stones management market has undergone transformative changes in the past few years. In addition to this, the unveiling of technologically progressive treatment methodologies has further boosted the kidney stones management market share which is forecast to surpass USD 2 billion by 2024.

Author NameSaif Ali Bepari