Latest Industry Insights

The global Anti-Biofilm Wound Dressing Market size is expected to reach USD 1,219.85 million by 2028, expanding at a CAGR of 9.2%, according to a new report by Grand View Research, Inc. ConvaTec, Smith & Nephew PLC, Urgo Medical, Coloplast, 3M are some of the key players in this industry. The rising incidence of Hospital Acquired Infections (HAIs), the growing prevalence of chronic diseases, and the increasing number of burn cases are the key driving factors for the market.

Increasing the prevalence of chronic diseases across the globe is anticipated to drive the market. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Since prolonged diabetes leads to diabetic foot ulcers, thus, the rising prevalence of diabetes is expected to render a positive impact on market growth over the forecast period. The anti-biofilm wound dressing is very much effective in healing chronic injuries, thus, this factor is expected to propel the demand for the product. Furthermore, the increasing geriatric population across the globe is also anticipated to surge the market growth. For instance, as per the World Health Organization (WHO), the global geriatric population is anticipated to rise from 90.0 million in 2016 to 2.0 billion by 2050. Since the geriatric population is prone to chronic diseases and ulcers, thus growing geriatric population is also expected to surge in market growth.

Increasing cases of accidents and trauma such as burns are expected to contribute to market growth. Traumatic events are most common in low and middle-income countries in comparison to high-income countries. Around 50.00% of people globally are exposed to fire-related traumas. For instance, as per the WHO, over 1,000,000 people are registered, annually, as moderately or severely burnt. Therefore, such an increase in the number of burn cases is projected to boost the demand for the products, thereby propelling the market growth over the forecast period. 

Related Press Release@ Anti-biofilm Wound Dressing Market Report

Anti-biofilm Wound Dressing Market Report Highlights

• In terms of revenue, the chemical mode of the mechanism segment held the largest share in 2019. An increase in the use of silver anti-biofilm wound dressing in chronic and acute injuries is the major factor driving the segment
• The acute wounds segment held the largest market share in 2019 owing to the rising number of surgical procedures across the globe
• Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the rising number of surgeries and the presence of many local players.

The global Hernia Repair Devices Market size is expected to reach USD 7.21 billion by 2028, registering a CAGR of 5.65% over the forecast period, according to a new report by Grand View Research, Inc. Some of the key players in this industry are B Braun Melsungen AG, Cook Medical, Medtronic Plc, W.L. Gore & Associates, Ethicon Inc., C.R Bard Inc, Atrium. The market is primarily driven by increasing prevalence of obesity and hernia globally. Being overweight causes the pressure and strain on abdominal muscles and makes them prone to development of the disease. Moreover, technological advancements and several product launches in the field of repair devices are further augmenting the growth.

Factors contributing to the growth include sedentary lifestyle, obesity, large weight loss, poor diet, chronic cough, and pregnancy. Furthermore, favorable reimbursement policies and FDA approvals of various repair devices are encouraging patients to opt for open or laparoscopy surgery. According to NCBI Report, more than 20.0 million hernia repair procedures are performed each year globally. The surgical procedure is an important revenue stream for hospitals, estimated at USD 48.0 billion per year in U.S.

Increasing healthcare expenditure and rising awareness about various surgical procedures in developing countries are also propelling market growth. Furthermore, technological advancement and increasing number of product launches in the field are also adding growth to the market. Rising number of minimally invasive surgeries and advent of robotic suturing are also gaining traction and compelling many patients to undergo surgery, thereby generating revenue to the market.

Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. This is attributed to growth of medical tourism and technological advancements in healthcare devices. In addition, availability of healthcare reimbursements and affordable medical treatment are driving the market in the region. Moreover, presence of large patient pool in Japan and China is anticipated to propel market growth over the forecast period. 

Related Press Release@ Hernia Repair Devices Market Report

Hernia Repair Devices Market Report Highlights

• North America accounted for the largest share in 2019 owing to favorable reimbursement policies and increasing FDA approvals for various mesh devices
• Asia Pacific is expected to witness robust growth during the forecast period owing to the large patient pool and rising healthcare expenditure
• Mesh devices dominated the market owing to high usage and low cost
• Inguinal hernia accounted for more than 70.0% of the share due to high incidence rate. However, incisional hernia is expected to grow at the fastest rate due to high recurrence rate
• Open surgery dominated the market owing to less post-operative complications and low procedure cost
• The market is very competitive due to presence of many players in the industry. The major players are acquiring new companies to maintain their market share in the industry.

The global Actinic Keratosis Treatment Market size is expected to reach USD 8.12 billion by 2028 according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 4.3% over the forecast period owing to a rise in demand for AK treatment products, increasing awareness among people, and favorable government initiatives. However, the COVID-19 pandemic has affected the market adversely. A downfall has been observed in the diagnosis and treatment rate of actinic keratosis in 2020, globally.

Key pharmaceutical companies are collaborating to develop novel therapies to treat actinic keratosis. For instance, in December 2017, Almirall, S.A., and Athenex, Inc. collaborated to develop KX2-391(tirbanibulin), an investigational drug for AK treatment. According to the deal, Athenex, Inc. granted the development and commercialization rights to Almirall, S.A. in the U.S. and Europe. Furthermore, in December 2020, Almirall, S.A. received the U.S. FDA approval for Klisyri (tirbanibulin) and was commercialized in February 2021 in the U.S.

Actinic keratosis may malignantly transform into Invasive Squamous Cell Carcinoma (iSCC). Although there are several causative factors of iSCC, AK is one of the most common causes. AK could also lead to basal cell carcinoma and non-melanoma skin cancer. Thus, the early diagnosis and treatment of AK as a preventive strategy for the comorbidities is fueling product sales across various sales channels.

Photodynamic therapy is anticipated to grow at the fastest CAGR over the forecast period. The high efficacy of the therapy compared to other treatment options and adoption of aggressive market strategies by key players to increase the market share are driving the segment growth. For instance, BIOFRONTERA AG has collaborated with many regional players to commercialize Ameluz (photo-enhancer) in the market. In December 2020, the company entered into a marketing agreement with Galenica AB to commercialize its products in the Scandinavian region. Moreover, the company has also collaborated with Medac GmbH in Poland and Maruho Co., Ltd. in Japan for the commercialization of Ameluz in the regional market.

Increasing government involvement & initiatives to improve healthcare services across the globe are expected to boost the market growth. The regulatory bodies are closely monitoring the treatment options for AK and adopting strategies accordingly. For instance, in January 2020, the European Medicines Agency recommended to stop using Picato (ingenol mebutate) for treating AK. The Pharmacovigilance Risk Assessment Committee of EMA is reviewing the clinical data related to skin cancer in a patient using Picato.

Related Press Release@ Actinic Keratosis Treatment Market Report

Actinic Keratosis Treatment Market Report Highlights

• Surgical therapy acquired the highest market share in 2020 due to the high penetration of cryotherapy and other surgical options
• Photo-enhancers and photodynamic therapy are anticipated to witness the fastest CAGR over the forecast period
• A paradigm shift in consumer preference towards homecare products is anticipated to drive the homecare end-use segment
• The risk of developing AK increases with age. Hence, the growing geriatric population is expected to accelerate the market growth
• Strategic partnerships among major players are expected to propel the number of new product launches, driving the market

The global Wound Debridement Market size is anticipated to reach USD 6.35 billion by 2028 at a 6.1% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Acelity L.P. Inc., Smith & Nephew, B. Braun Melsungen AG, Coloplast A/S are some of the key players in this industry. Rising cases of injuries that require cleaning and removal of necrotic tissue are leading to increasing demand for wound debridement products.

Wound debridement products help in eliminating or reducing the load of microbes and toxins that inhibit wound healing. Increasing incidence of diabetes and obesity escalates the level of chronic wounds such as diabetic foot ulcers. As per the International Diabetes Federation, the incidence of diabetes is expected to reach 642.0 million by 2040. Prevention of wound infection is one of the major concerns for diabetic patients, making wound debridement vital. With the increase in the number of diabetics in the U.S., demand for wound debridement is on a rise. Burns are the most common wounds and account for around 195,000 deaths annually. This, in addition to rising awareness regarding the importance of wound debridement, is expected to positively affect the market in the coming years.

Development of advanced wound debridement products is also boosting the market growth. For instance, the launch of keratin-based wound care products that are used along with dressings has proven to be extremely helpful in wound re-epithelialization. The keratin matrix is absorbed in the wound and eliminates the need for a dressing change. Such developments are anticipated to create growth opportunities for market players in the coming years.

Related Press Release@ Wound Debridement Market Report

Wound Debridement Market Report Highlights

• Gels accounted for the largest share by product in 2017 due to advantages such as no inflammation, reduced bleeding, and safe removal of necrotic tissues without causing infection
• By wound type, diabetic foot ulcers are estimated to form the fastest growing segment due to the high prevalence of diabetes. About 15.0% of diabetic foot ulcers result in amputation. Therefore, need to heal the wound in its nascent stage is necessary
• Asia Pacific is anticipated to witness lucrative growth over the forecast period. Progressive economy, reforms to improve infrastructure, high unmet needs of a massive population, and availability of skilled labor is expected to drive the market in this region

The global Scar Treatment Market size is expected to reach a value of USD 46.3 billion by 2028 registering a CAGR of 10.1%, according to a new report by Grand View Research, Inc. Smith & Nephew PLC, Lumenis, Merz Pharmaceuticals, LLC, Sonoma Pharmaceuticals, Inc are some of the key players in this industry. Scar treatment market is developing at a fast rate due to the growing awareness among people regarding aesthetics. Acne scars are one of the most common concerns. Rise in the number of road accidents also results in several marks, which many a time require surgical assistance.

Hence, patients who have undergone such surgeries are generally provided with topical products for scar reduction. Cosmetic surgeries with laser instruments are also being undertaken for treating severe marks from road accidents. To remove such marks, plastic surgeries or resurfacing laser therapies are being preferred. Technologically advanced scar removal products minimize pain and facilitate a hassle-free healing process. For instance, UltraPulse by Lumenis uses CO₂ laser for the treatment of acne scars reduces the risk of pain during the treatment process.

Related Press Release@ Scar Treatment Market Report

Scar Treatment Market Report Highlights

• Topical products led the global scar removal treatment market in 2018 due to higher demand for creams and gels for treating scars, such as acne, surgical marks, and burns
• Laser products are anticipated to witness the fastest CAGR over the forecast period due to the introduction of technically advanced laser instruments
• North America was the dominant regional market in 2018 owing to the high penetration of laser-based products in skin rejuvenation and scar treatment

The global ENT Devices Market size is expected to reach USD 29.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2021 to 2028. Demant A/S, Sonova, Ambu A/S, Pentax Medical, Karl Storz are some of the key players in this industry. The market growth can be attributed to factors such as a growing geriatric population, high prevalence of hearing loss, and increasing penetration of minimally invasive surgeries are factors likely to boost the market during the forecast period. Furthermore, technological advancements in this field, an increase in healthcare investment for early detection of diseases, and favorable regulatory policies are other factors expected to drive the market.

Furthermore, with age, the risk of poor immunity increases, which makes older people more vulnerable to disorders of the nose and throat. To address this issue, elderly people need ENT devices. This, in turn, is expected to propel market growth. According to the Action on Hearing Loss Information, 1 out of every 6 people or over 10.0 million people in the U.K. suffered from hearing loss. Out of these, 6.4 million people were in the 65 and above age group, and 800,000 people suffered from severe or profound deafness.

Loss of hearing is the third most common chronic physical condition in adults after high blood pressure and arthritis. Hearing loss affects people of all ages and is particularly prevalent in those over 65 years, with 1 in 3 people over 65 suffering from a disabling hearing loss. It disturbs communication and can result in depression, anxiety, social isolation, and cognitive decline. For instance, according to the National Center for Health Statistics (NCHS), 15% of the total U.S. population over 18 lives with some type of hearing impairment. Men are more likely to be affected than women (18.4% vs. 12.4%).

Moreover, the onset of the COVID - 19 pandemic, led to the restriction on movement enforced in most markets harmed the entire industry. The majority of ENT device users are senior citizens, and they have been advised to stay at home to avoid the risk of infection. Many healthcare providers have decided to postpone all non-essential surgeries, which has impacted the industry.

Related Press Release@ ENT Devices Market Report

ENT Devices Market Report Highlights

• The diagnostic ENT devices segment accounted for the largest revenue share in 2020. However, the hearing aids segment is expected to grow at a rapid rate during the forecast period
• North America held the largest revenue share in 2020 and is expected to maintain its dominance during the forecast period. This can be attributed to factors such as increased demand for hearing care devices, presence of large hospitals chains, highly equipped ambulatory facilities, and significant target population
• In Asia Pacific, the market is projected to grow at the highest rate during the forecast period owing to growing healthcare expenditure, and rising investment by market players
• Mergers and collaborations and product development are the key strategies being undertaken by the market players. For instance, In February 2019, Widex and Sivantos announced the completion of the merger. The newly created company will operate under the name WS Audiology and be headquartered in Lynge, Denmark, and Singapore

The global Xylitol Market size is expected to reach USD 738.10 million by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.4% over the forecast period. Some of the key players in this industry are Cargill, Inc., DuPont Danisco, Roquette Freres, ZuChem, Inc., Thomson Biotech (Xiamen) Co., Ltd., NovaGreen, Inc., DFI Corp. The product demand has been growing rapidly owing to the high demand for natural ingredients in the food industry. Furthermore, the use of xylitol in dietary supplement products, such as gummies, has also been one of the key driving factors contributing to the growth of the market. Xylitol is a low-calorie sugar with a low glycemic index as compared to table sugar. It is widely used as a sweetener in the food industry, mainly in chewing gums, mints, and candies. The product consumption has been linked to several positive health effects, including a reduction in tooth decay, prevention of ear infection, enhanced bone density, weight loss, blood sugar stabilization, etc.

It shows a varied range of applications in the food, pharmaceutical, and nutraceutical industries. Sugar-free chocolates, chewing gums, hard candies, wafer fillings, pastilles, and other diabetic sweets are produced using xylitol as the key sugar substitutes. It also enhances the flavor, color, and shelf life of food products. Chewing gums that contain xylitol are well known for their therapeutic purposes. The addition of xylitol to cough syrups, tonics, and vitamin preparations results in nonfermentable products. It is added to diets as a beneficial health supplement for diabetic patients, due to its non-cariogenic and non-fermentable properties.

Asia Pacific accounted for the largest revenue share of the global market in 2020. China is among the leading producers as well as consumers across the globe. The majority of the product is produced in China followed by Europe and the U.S. The increasing product usage in the formulation of various dietary supplements from the nutraceutical industry is accelerating the growth of the market. Most of the players operating in this market are export-oriented and focus on building a global distribution network to meet the increasing demand in various end-use industries across the world.

Related Press Release@ Xylitol Market Report

Xylitol Market Report Highlights

• The powder form segment accounted for the largest revenue share of over 90% of the global market in 2020 and will expand further at a steady CAGR from 2020 to 20208
• The easy application and availability of xylitol in the powder form are contributing to the segment growth
• Oral care is expected to be the fastest-growing application segment over the forecast period
• Xylitol prevents tooth decay and improves the flavor of tooth care products, such as toothpaste, mouthwash, and mouth fresheners
• Asia Pacific is estimated to be the largest regional market by 2028. China is the largest production cluster and has a high product demand and usage in various applications, such as nutraceutical and chewing gum manufacturing
• Europe, on the other hand, is expected to register the fastest CAGR from 2020 to 2028

The global Aerogel Market size is expected to reach USD 2.52 billion by 2028, registering a CAGR of 15.1% over the forecast period, according to a new report by Grand View Research, Inc. Some of the prominent players in this industry are Cabot Corp., BASF SE, Nano Technology Co., Ltd., Dow, Inc. and Enersens. Growing product usage for insulation applications in various industries, such as automotive, aerospace & defense, building & construction, oil & gas, and other industries, is expected to drive the market.

Aerogels provide innovative and eco-friendly solutions for light-diffusing and high-performance insulation in architectural daylighting applications. Cabot Corp. provides LUMIRA aerogel, water-repelling particles produced through a subcritical drying process that exhibits a broader scope of applications including subsea pipe insulation and daylighting.

Various agencies like NASA are further researching on the aerogel material to broaden its application scope in exploring potential applications of thin polymer aerogels in cryogenics or spacesuits. In addition, the market is expected to witness additional research for novel applications, such as hydrogen storage media and supercapacitors.

Related Press Release@ Aerogel Market Report

Aerogel Market Report Highlights

• The silica aerogel segment accounted for the largest revenue share in 2020 owing to a wide range of applications in transparent window systems, protection systems, heat storage devices, and paint thickening agents
• The aerogel blanket product segment dominated the global market and is expected to witness a notable CAGR over the forecast period as these materials offer superior properties in construction and industrial insulation
• The oil & gas end-use segment dominated the market in 2020 and is expected to witness a notable CAGR over the forecast period
• North America was the leading regional market in 2020 owing to the high concentration of aerogel manufacturers in the region
• Industry participants are collaborating with the major organizations including World Wide Fund for Nature, to influence the overall industry and contribute to global energy savings and reduction of CO₂ emissions

The global Flexitanks Market size is expected to reach USD 3.31 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 21.0% from 2020 to 2028. Some of the key players in this industry are Qingdao BLT Packing Industrial Co., Ltd. (BLT), Braid Logistics UK Ltd., Bulk Liquid Solutions Pvt. Ltd., Büscherhoff Packaging Solutions GmbH, Environmental Packaging Technologies, Inc. The rising global trade of various liquid food products, chemicals, pharmaceuticals, and industrial products is principally augmenting the market growth.

Lower costs associated with flexitanks compared to conventional bulk liquid transport containers, such as ISO containers, IBCs, drums, and barrels, are likely to propel their demand. Furthermore, flexitanks carry higher payloads than IBCs and drums, which prove them to be a more economical means of bulk transportation.

A majority of the flexitanks are designed for single-use, which reduces the risk of packed product contamination. This superior protection against contamination makes them an ideal bulk packaging choice for food-grade liquids and pharmaceuticals. In addition, flexitanks do not require the forklift or other mechanism, which makes loading and unloading much faster. The aforementioned factors are attracting several application industries.

Low cost as compared to multi-trip flexitanks, wide availability, and lower risk of contamination are the key factors responsible for the high adoption of single-trip products. However, increasing sustainability trend is likely to restrain the growth of the single-trip flexitanks. Moreover, increasing demand for packaged liquid products, such as juices, and wines and spirits, on account of the rising penetration of the organized retail sector and substantial growth of the middle-class population, especially in emerging countries like China and India, is expected to fuel the market growth.

Related Press Release@ Flexitanks Market Report

Flexitanks Market Report Highlights

• The single-trip product segment accounted for the largest share of 93.8% in terms of revenue in 2020 owing to the excellent protection against contamination, low cost, wide availability, and non-requirement of cleaning as they are expendable
• The foodstuffs application segment is anticipated to expand at the fastest revenue-based CAGR from 2020 to 2028. Increasing demand for packaged beverages and liquid food additives are mainly contributing to the growth of the segment
• The chemicals application segment is expected to witness substantial growth from 2020 to 2028. The growth can be attributed to the increasing popularity of flexitanks, along with the fact that all non-toxic liquid chemicals can be transported using flexitanks
• Asia Pacific emerged as the leading regional market and accounted for 64.43% share of the total volume in 2020. Increasing commodity trade, along with higher market penetration, is expected to spur the regional market growth
• The market is highly fragmented with the presence of a significant number of medium-sized companies. Key players are focusing on competitive product pricing and introducing new products within the market to attract end-user companies

The global Epoxy Composite Market size is expected to reach USD 55.97 billion by 2028, registering a CAGR of 8.3% over the forecast period, according to a new report by Grand View Research, Inc. Growing usage of advanced lightweight functional materials in various industries, such as automotive & transportation, aerospace & defense, and wind energy, is expected to drive the market.

Increasing demand for composites in the automotive industry is anticipated to boost the market growth over the forecast period. Rising fuel prices have triggered the need for fuel-efficient vehicles, which is expected to increase the usage of composites. Composites are majorly utilized as the replacement for aluminum, wood, and steel on account of their higher strength-to-weight ratio.

The high manufacturing cost of composites is challenging the growth and profitability of the market across the world. In addition, initial capital investment is anticipated to pose a challenge over the forecast period. Companies, such as Toray Industries and Teijin Ltd., are integrated across the value chain of composites ranging from raw material supply to distribution activities and have also diversified their product offerings.

Related Press Release@ Epoxy Composite Market Report

Epoxy Composite Market Report Highlights

• The glass fiber reinforced epoxy composites segment accounted for the highest revenue share of more than 60% in 2020 as a result of high demand due to their superior characteristics along with cost-effectiveness
• The automotive & transportation application segment dominated the global market and is expected to register a significant CAGR over the forecast period
• The wind energy application segment is expected to witness the fastest CAGR of more than 9% due to high product demand in this application or ensuring shape stability, structural strength, and damage resistance to wind turbine rotor blades
• Asia Pacific led the global market in 2020, in terms of revenue share, owing to the presence of a robust automotive manufacturing base in the region
• Key companies have undertaken various initiatives, such as technology innovations, R&D, partnerships, and mergers & acquisitions, to manufacture cost-effective and lightweight composite products

The global Carrageenan Market size is expected to reach USD 1.25 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2020 to 2028. Some of the key players in this industry are DuPont, Ingredion Incorporated, Ashland, CP Kelco U.S., Inc., Cargill, Inc., Ceamsa, W Hydrocolloids, Inc., Gelymar. The rising demand for plant-based thickeners and stabilizers for replacing synthetic and animal-derived ingredients in food and beverage applications is expected to drive the product demand.

As per the Food & Agricultural Organization (FAO), Asia held the largest share in seaweed production globally as of 2020. Southeast Asian countries including Indonesia, the Philippines, and Malaysia are a few of the major cultivators of seaweed providing growth opportunities for local carrageenan manufacturers with abundant raw material availability.

The market is fragmented with numerous market participants present across the value chain. Hydrocolloids manufacturers including Cargill Incorporated, CP Kelco, and DuPontare integrated across the value chain. The companies source their own raw materials, for instance, red seaweed such as Kappaphycusalvarezzi, Eucheumadenticulatum, Sarcothalia, Gigartina, and Chondruscripusisused for carrageenan production.

The manufacturers are engaged in R&D activities for developing innovative extraction techniques and producing high-quality products that can cater to demand from various end-use industries. For instance, in February 2021, Marinomed Biotech AG, a biopharmaceutical company, announced the development of a nasal spray that is formulated with iota-carrageenan. The company stated that this product can be used as a preventive measure for COVID-19.

Related Press Release@ Carrageenan Market Report

Carrageenan Market Report Highlights

• The semi-refined processing technology segment dominated the market with a revenue share of over 50.0% in 2020 owing to its low cost compared to other methods. It can be used to form kappa as well as iota carrageenan that majorly find applications in food products
• By product type, the kappa carrageenan segment is expected to register the highest CAGR in terms of revenue over the forecast period owing to its growing demand in the manufacturing of sauces, speeds, jellies, poultry rolls, and cooked cured ham. Its rising usage in non-food applications, such as toothpaste, tablets, and air freshener gels, is expected to support the segment growth
• The pharmaceutical application segment is expected to expand at a revenue-based CAGR of 6.8% over the forecast period as the manufacturing companies are strongly focusing on the formulation of pharmaceutical-grade carrageenan. For instance, Ina Food Industry Co., Ltd. offers Iota Carrageenan PA-2 that can be specifically used for pharmaceuticals and quasi-drugs
• Europe held the largest revenue share of 31.0% in 2020 owing to the widening of product portfolio and regional expansion of players operating in the region. For instance, in April 2021, Bang & Bonsomer, based in Finland, acquired all shares of Eurogum A/S, Denmark, and EurogumPolskaSp Zoo, Poland. Eurogum is engaged in the production of carrageenan and alginate for the food industry. This move is expected to strengthen the former’s position in food ingredients and help in business expansion in Europe
• Prominent carrageenan manufacturers are focusing on new product development to strengthen their market presence. For instance, in May 2021, Gelymar developed sustainable texturing agents, including CarraLact VPD and CarraLact VFL. These are based on KII carrageenan, which is a natural food hydrocolloid. These can be used in vegan ready-to-eat and instant desserts

The global Books Market size is anticipated to reach USD 159.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.4% from 2021 to 2028. Penguin Random House, Hachette Book Company, HarperCollins Publishers, Simon & Schuster, Inc., MacMillan Publishers are some of the key industry participants. Increasing consumer spending on books supported by rising incomes and interest, as well as continued innovations in the format that have enhanced the overall reading experience, are among the key factors boosting the market.

The market has undergone significant changes over the last decade and has been heading in newer directions. The evolution of the commissioning process, backed by a generation of smart editors. The three major areas involved in commissioning books-marketing, publicity, and sales and distribution-have all been evolving in ways that can profit the market.

For instance, Bloomsbury Publishing has reported record annual profits during the ongoing coronavirus pandemic as more people turned to read books while sheltering at home. The publishing house saw a 14% increase in sales to reach GBP 185 million, while profits were up by more than one-fifth, reaching GBP 19.2 million in 2020. Similarly, in May 2021, a new book distribution company, operating under the Emirates Publishers Association, was formed to enable local publishers to expand their reach into regional and international markets with reduced operating costs.

Based on type, the market is divided into fiction, romance, educational, novels, comics, and others (including classics and biographies). There is more innovative publishing in the fiction books segment, with digital platforms and companies such as Potter more that create a visual and immersive experience for readers. The increasing penetration of audiobooks in developed and developing countries is also anticipated to supplement the growth of various fictional books.

Additionally, the increasing penetration of internet services in developing countries like India and China is anticipated to boost the market growth. The growth of the other books segment has been stunted, as the buying decision for books in this category is often in the hands of government institutes or academic institutes. Additionally, students now prefer to rent their textbooks rather than purchasing them, which is anticipated to further inhibit the growth of the segment.

Different media of selling products and services in the market, with the onset of digital technology in the publishing industry, have paved the way for higher product adoption among consumers. Book royalties emerge from various sources in the current scenario, which include retail, subscription services, digital library providers, and regional stores.

The retail format has a higher reach among global readers, with the usual one-copy purchase business model adopted by players such as Amazon, Apple Books, Barnes & Noble, Google Play Books, and Kobo. Subscription services work in the form of applications or stores that provide unlimited access to books in exchange for a monthly fee, such as Scribd, Bookmate, and Dreame. Digital library providers not only let individuals borrow books but also help institutions like public libraries, schools, universities, or corporate libraries such as OverDrive, Bibliotheca, Mackin, and Odilo.

Key players operating in the market account for a considerable share of the market and are focusing on strategies such as acquisitions, collaborations, and new launches to maximize their share and strengthen their positions. Rapid changes in the industry owing to the shift from traditional methods to digital ownership can help the market players scale newer dimensions and boost adoption. A recent survey of 400 librarians in the U.S. and Canada found that one-third are spending less on physical books, audiobooks, and DVDs, and more on digital versions since the pandemic began.

In September 2020, libraries in the U.K. witnessed a huge uptick in the number of audiobooks and eBooks being loaned out. All branches lent an additional 3.5 million eBooks from 13th March to 14th August, according to a blog by Good e-Reader. Chrys Mellor, General Manager of Libraries at North Yorkshire County Council, stated that the demand for eBooks and audiobooks was up by 78% and 3,000 new members signed up for cards during the lockdown.

Related Press Release@ Books Market Report

Books Market Report Highlights

• The mystery books segment dominated the market and accounted for the largest revenue share in 2020. By 2028, this segment is expected to account for a total market share of 17.5%
• The local book shops segment accounted for the largest revenue of 50.3% in 2020 and was valued at USD 66.5 billion. Whereas in 2020 the online segment generated revenue of USD 38.9 billion and by 2028 is estimated to be valued at 46.9 billion
• The hardcopy segment dominated the market and held the largest revenue share of 78.9% in the year 2020
• North America held the largest revenue share of 32.9% in 2020 on account of the presence of a large number of independent publishers and publishing companies in the region

The global Pore Strips Market size is expected to reach USD 2.14 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.9% from 2021 to 2028.  Some of the key players in this industry are Kao Corporation, Walgreen Co., Ulta Beauty, Earth Therapeutics, Sephora, L’Oréal. The millennial population has radically reshaped the beauty and personal care industry in recent years. Millennials are becoming more conscious of their physical appearances and looks and are willing to use diverse products that are proven to give effective skin nourishment and quick fixes. Inspired by these trends, numerous pore strip manufacturers are launching products that contain natural ingredients, such as aloe vera, lemon, orange, and charcoal.

With the increased access to the internet and social media apps such as Instagram and YouTube, consumers are looking to explore skincare products, including pore strips, on these platforms to gain the necessary information related to effective at-home skincare routines. With detailed videos from how to know your skin type to what kind of night/day routines to follow, these apps have a wide variety of content that suits the needs of beginners as well as experts.

Emerging markets and the increasing demand for overseas goods are further driving online spending. Consumers in emerging countries such as China and India prefer local e-commerce companies, such as Tmall in China and Flipkart in India. Consumer spending in the U.S. and some countries in Europe has witnessed a slight drop owing to the global recession. However, the market has witnessed significant growth in recent years due to the rising demand from emerging markets, such as China, India, South Korea, Vietnam, Thailand, and other South Asian countries.

As consumers have been spending less on beauty and grooming products over the past year and a half, many skincare companies have responded to the crisis by shifting gears and offering hand sanitizers and cleaning agents instead.

According to global reports, the beauty and personal care industry in the U.S. can decline by up to 35% in the worst-case scenario. In-store and offline purchases of pore strips accounted for approximately 85% of purchases. Due to the closure of stores worldwide amid the COVID-19 pandemic, 30% of stores were shut down and it is estimated that 2–3% of the stores will permanently shut down.

Related Press Release@ Pore Strips Market Report

Pore Strips Market Report Highlights

• The home end-use segment grabbed the largest share of over 65.0% in 2020. The growing fashion consciousness among consumers is expected to boost the growth of the segment
• By ingredient, the non-charcoal segment accounted for the largest share of over 70.0% in 2020. Changing consumer perception toward organic products and the growing utilization of environmentally sustainable products are fueling the demand for naturally derived ingredients
• Asia Pacific held the largest revenue share of more than 40.0% in 2020 and is expected to witness the fastest growth over the forecast period owing to the increasing product adoption in the region

The global Athleisure Market size is anticipated to reach USD 549.41 billion by 2028, registering a CAGR of 8.6% over the forecast period, according to a new report by Grand View Research, Inc. Hanes Brands, Inc., Adidas AG, Vuori, PANGAIA, Under Armour, Inc. are some of the key players in this industry. People require attire that is both comfortable and stylish. Athleisure is defined as a combination of athletic and casual leisure activities and thus, the sector is growing at a rapid pace. It is a popular category because it taps into several broad trends, including a global shift toward consumers wearing more casual clothing, consumers seeking comfortable clothing, and a more health-conscious consumer engaging in more athletic activities and requiring performance clothing for these activities.

True Fit’s Fashion Genome (via Direct Commerce), which analyses data from 17,000 brands and 180 million True Fit users, confirms that athleisure orders have increased by 84% since the pandemic began; sales of women’s athleisure bottoms in the United Kingdom alone were five times higher in December 2020 than in April 2020. In addition, order volumes for men’s athleisure wear sales increased by 20% from the previous year. Target’s activewear line, All in Motion, which had only been launched before the pandemic, reportedly surpassed $1 billion in sales.

According to GQ, at least a dozen new businesses have joined the market with identical origin stories in the previous five years. To mention a few, the British companies Ashmei and Iffley Road; the Danish brand Doxarun; and the American brands Isaora and Tracksmith, with the former focusing on high-end training gear and parkas and the latter investing in a retro Ivy League look.

Related Press Release@ Athleisure Market Report

Athleisure Market Report Highlights

• The mass athleisure type segment accounted for the largest share of more than 64% in 2020 and is expected to expand at a steady CAGR over the forecast period
• The demand for highly comfortable clothes with sports features has increased in recent years, and wide pockets and elastic knot elements have become important products for carrying large mobile phones, purses, and a few other daily essentials
• The growing popularity of the utility fashion trend has spurred the demand for utility-active apparel
• The yoga apparel segment accounted for the largest revenue share in 2020 and is also estimated to register the fastest CAGR from 2021 to 2028
• North America had the largest market share in 2020; however, Asia Pacific will register the fastest CAGR of more than 10% from 2021 to 2028

The U.S. Air Quality Analyzers Market size is expected to reach USD 2.23 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.3% from 2020 to 2028. The U.S. market for air quality analyzers is primarily driven by the increasing awareness pertaining to the monitoring of air quality in indoor spaces.

Proper maintenance of indoor air quality in schools and offices is essential for the comfort and health of students and employees. Ill-effects caused by poor indoor air quality such as fatigue, headache, and irritation to the eyes, throat, lungs, and nose, contributed to the rising demand for monitoring air quality, in turn, complementing the market growth.

The COVID-19 pandemic has increased the demand for the early detection of biological contaminants such as viruses, bacteria, and house dust in the air, thereby fueling the growth of the U.S. market for air quality analyzers. Increasing pollution and rising awareness among the masses about the importance of indoor air quality are expected to drive the market.

Manufacturers of air quality analyzers are focusing on launching innovative products using advanced technology to measure air quality in various applications. For instance, in June 2020, Siemens launched a real-time air quality monitoring system that measures pollutants, humidity, and temperature.

Related Press Release@ U.S. Air Quality Analyzers Market Report

U.S. Air Quality Analyzers Market Report Highlights

• By product, portable indoor analyzers are expected to witness the fastest growth from 2020 to 2028 as these analyzers are easier to maintain and repair as compared to fixed analyzers
• In terms of pollutant type, the biological segment is expected to expand at the fastest CAGR of 6.5% over the forecast period as these pollutants can cause allergies, influenza, watery eyes, and cough due to which demand for air quality analyzers is rising to monitor air quality
• The commercial application segment led the market and accounted for 43.0% share of the U.S. revenue in 2020 owing to the rising worker safety in the commercial sector as the pollutants in indoor settings can cause illness and allergic reactions
• The manufacturers of air quality analyzers are focusing on launching new products in North America. In January 2021, TSI launched a new air quality monitor named Q-Trak XP Indoor Air Quality, which is available only in North America

The global Sports Betting Market size is expected to reach USD 140.26 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.1% from 2021 to 2028. Some of the key players in this industry are 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Entain plc. The growing digital infrastructure and the penetration of connected devices are the key factors driving the market. Additionally, the increase in the number of sports events and leagues is driving the demand for sports betting platforms.

Sports betting is an activity of foretelling sports results and placing a bet on the result. Most bets are placed on sports, such as football, baseball, basketball, hockey, cricket, boxing, and auto racing. However, sports betting also extends to non-athletic events, such as horse racing and eSports.

The COVID-19 pandemic led to the cancellation of sports events, which reduced sports betting opportunities. However, the sports betting industry is expected to witness lesser financial damage compared to other industries. As a result of the lockdown of land-based betting facilities, many customers/bettors shifted to online betting platforms. During lockdowns, the online sports betting industry witnessed an increase in participation as users had more time to spare on their phones and desktop computers, making it convenient for them to place bets.

The market has also benefitted from the growth in internet penetration, which is driving increased investments in online sports betting platforms. For instance, according to Global Social Media Overview April 2021 by DataReportal, there are more than 4.8 billion internet users across the world. Participation in online betting permits players to monitor betting activities in real-time through internet-connected devices.

Sports betting platform providers are investing in research & development activities to introduce innovations in the market and offer a better experience to users. Additionally, the growing competition is driving innovations in the sports market.

Related Press Release@ Sports Betting Market Report

Sports Betting Market Report Highlights

• By platform, the online segment accounted for the largest revenue share in 2020 and is expected to retain its lead over the forecast period. This can be attributed to the increase in the penetration of smartphones and connected devices across the world. The segment is anticipated to expand at the highest CAGR over the forecast period
• In terms of sports type, the football segment accounted for the largest revenue share in 2020 and is expected to retain its lead over the forecast period. Additionally, this segment is likely to register the highest CAGR over the forecast period
• Europe dominated the market in 2020 and is expected to retain its position over the forecast period. This can be attributed to factors such as safety laws and regulations for sports betting, popularity and large fan base of football, and the presence of many market players in the region