Latest Industry Insights

The global Medical Disposables Market size is expected to reach USD 1086.6 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 16.7% from 2021 to 2028. Rising incidence of Hospital Acquired Infections (HAIs), impact of COVID-19 outbreak, and increasing number of surgical procedures are the key factors driving the market for medical disposables.

Increasing number of surgeries globally is a key factor expected to drive the market over the forecast period. For instance, as per Mölnlycke Health Care AB, 70.00 million surgical procedures are performed every year in Europe. As such, medical disposable products such as hospital gowns, disposables eye gear, hand sanitizers, respiratory supplies, and sterilization supplies, which are being an essential requirement for surgical procedures, are expected to witness high demand over the forecast period. For instance, as per the report published by the Organization for Economic Co-operation and Development (OECD), around 390,352 surgeries were performed in Canada in 2017. Disposable products prevent the transmission of nosocomial infections to some extent owing to which surgeons consistently prefer to use disposable products over the reusable ones. Such factors are expected to boost market growth.

Increasing incidence of HAIs due to lack of sanitation and precaution is also one of the leading factors contributing to the market growth. For instance, as per the CDC, about one in 25 hospital patients contracts at least one HAI every year. Non-woven disposables such as hospital gowns provide general protection against contamination and can help to lower the risk of contracting HAIs. Furthermore, they can prevent bacterial and other microbial infections from entering a patient’s body. Thus, surgeons recommend patients to wear disposable gowns before medical procedures. These factors are anticipated to propel the market growth over the forecast period.

Related Press Release@ Medical Disposables Market Report

Medical Disposables Market Report Highlights

• In terms of product, disposable masks held the largest share in 2019. This is attributed to their increasing usage due to the outbreak of COVID-19 across the globe
• Based on raw material, nonwoven material is anticipated to witness the fastest growth over the forecast period owing to increasing number of hospital admissions
• By end use, hospitals are expected to witness the fastest growth over the forecast period due to rising number of patient admissions in hospitals for surgeries and treatments for COVID-19
• Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising surgical procedures and increasing number of COVID-19 cases in this region.

The global DNA-Based Skin Care Products Market size is expected to reach USD 9.87 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2021 to 2028. Consumer awareness of the dangers of using skincare products containing synthetic chemicals is pushing the demand for natural and organic products. Many DNA-based companies have been promoting awareness of DNA-based skincare products through digital and social media campaigns because today's consumers are tech-savvy and want products that are best suited to them.

Everyone's skin is different, so instead of a generic approach from over-the-counter items, consumers need a regimen that is tailored to their own needs. Consumers are now being targeted more directly by skincare specialists, who are prescribing a customized range of products.

The Skin360 Face Scanner app from Neutrogena identifies over two thousand face features in order to recommend goods to users. Quizzes are used by brands like Vitruvi and The Buff to analyze a customer's present conditions and skincare goals based on a guided self-assessment. To determine a client's need for their products, Atolla performs a pH skin test to analyze moisture levels, oil percentages, UV exposure, and humidity levels. Skintelli's tailored skincare technique includes an epigenetic test that examines the DNA methylation gene. As more people migrate to the internet, it will be vital for businesses to improve the customer experience when purchasing individualized skincare products online, ensuring that the procedure is as personal as the product. 

Related Press Release@ DNA-based Skin Care Products Market Report

DNA-based Skin Care Products Market Report Highlights

• By product, the creams segment dominated the market and accounted for a share of over 50.0% in 2020
• The offline distribution channel segment captured the largest share of over 65.0% in 2020. The online channel is expected to witness the highest growth from 2021 to 2028
• North America held the largest share of more than 35.0% in 2020. The high willingness of consumers to pay for personalized skincare is positively affecting the market growth in the region

The global Shapewear Market size is anticipated to reach USD 3.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.0% from 2021 to 2028. The growth of this market is fueled by factors such as changing lifestyles, increased use of compression wear among the geriatric population, and developments in garment designs and fabric technology. Furthermore, the rise in online sales of compression wear and shapewear, as well as the rising demand for plus-size clothes, has fueled the growth of the market.

The market is also influenced by a variety of cultural factors. When it comes to the body, the concept of perfection is being replaced with the concept of self-love and comfort in one's own shape and size. The market has been influenced by this body-positivity philosophy.

Shapewear is not about hiding defects for millennials and Gen-Z shoppers; rather, it is seen as apparel that improves rather than alters one's appearance. As a result, Gen Z-focused manufacturers like Honeylove have gained a wider audience by avoiding the term "shapewear" and instead of offering "sculptwear" in a variety of sensual styles with flattering elements that women want to flaunt in public.

Most of these companies also have enormous communities - Shapermint, for example, has four million members – who are encouraged to share their photos using shapewear across various social media platforms. Skims' inclusive strategy, which includes varied ad campaigns and a wide assortment of items in all shapes and colors, has also made it popular with millennials. They have one of the broadest size ranges (XXS to 4X) and a wide selection of skin tones to accommodate people of all ethnicities.

Women nowadays expect work-life flexibility intimates that may keep their bodies in tip-top form and make them appear attractive. Many firms are examining this as a customer-centric strategy and expanding their product portfolios to include lighter, firmer, and more practical products for everyday use throughout the year.

Related Press Release@ Shapewear Market Report

Shapewear Market Report Highlights

• The female segment accounted for the largest revenue share of 94.0% in 2020 and is expected to expand at a CAGR of 7.9% over the forecast period
• The specialty stores distribution channel accounted for the largest revenue share of 58.4% in 2020 and is estimated to ascend with a CAGR of 8.1% over the forecast period
• North America accounted for the largest revenue share of 38.8% in 2020

The North America Spirits Market is expected to reach USD 278.5 billion by 2028, registering a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. The market has several growth opportunities due to the rising consumer demand for premium and low alcohol content drinks. Moreover, innovation in Ready-to-Drink (RTD) products with an infusion of botanical and organic ingredients will provide new growth opportunities in the coming years.

The whiskey product segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period. In North America, there is a growing demand for distinctive and handcrafted alcoholic beverages, which is likely to boost the market growth. The demand for whiskey is predicted to rise in the coming years due to the increasing consumption of alcohol, especially in the U.S. and Canada.

The U.S. accounted for the largest revenue share in 2020. As per the data by IWSR, people under the age group of 21 to 44 years are the most frequent consumers of low-alcohol drinks. According to The Wall Street Journal, alcohol volumes declined by 0.8% in 2018 in the U.S., slightly steeper than the 0.7% drop in 2017. The market has a strong presence of several regional and international players.

Related Press Release@ North America Spirits Market Report

North America Spirits Market Report Highlights

• The whiskey segment accounted for a larger share of the overall revenue in 2020. The growing demand for unique and crafted alcoholic beverages is emerging as a rising trend, which drives the segment
• The screw-top caps & closure segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period
• The growth is credited to several advantages pertaining to the structure of screw-top caps, such as low cost and ease of use & application
• The plastic material segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period
• The abundant availability of these raw materials translates to the low cost of production, thereby making plastic caps and closures a viable choice for packaging
• The liquor stores distribution channel segment accounted for the largest market share in 2020 and is expected to maintain dominance over the forecast period
• Some of the popular liquor stores in North America are Astor Wines & Spirits and Ambassador Wines & Spirits
• Mergers & acquisitions emerged as the key strategy deployed by the majority of market players to stay abreast of the competition

The Europe Coin-Operated Laundries Market size is anticipated to reach USD 7.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.1% from 2021 to 2028. The industry has undergone a revolution. Laundromats are no longer dingy, unsafe, and tedious places that customers must endure on a weekly basis, and have instead become fun and attractive multiservice centers that customers may even enjoy visiting. Modern-day businesses have snack bars, a place to leave off and pick up dry cleaning, and video games. Some of them even use additional methods of payments instead of exclusively being dependent on coins. Many laundry owners also employ attendants to keep an eye on the store and help customers use the equipment.

In addition, owners have realized that they can maximize their profits by providing customers with access to multiple services. Since they pay a set amount of rent on their commercial space, they have started to use that space to its fullest potential. Coin-operated laundry firms are located in apartment housing and are referred to as multi-housing laundry businesses or route laundry businesses. These businesses thrive in periods of both growth and recession. During periods of recession, when homeownership decreases, the self-service laundry market expands as more people are unable to afford to repair, replace, or purchase new washers and dryers, or as they move to apartment housing with inadequate or nonexistent laundry facilities. The market size grows proportionately to the increase in population.

Moreover, most hotels, hostels, and temporary lodging establishments offer coin-operated laundry services for their guests. Hotels often have an agreement that lets guests use laundromat services. In January 2021, Springboard Hospitality expanded its roster of Hawaii properties with the addition of Ohia Waikiki Studio Suites. The studio suit, along with offering 251 apartment-style accommodations, full kitchens, pool, bar, and restaurant, also offers coin-operated laundry facilities. Similarly, in November 2020, 304-room Marriott Tacoma Downtown was inaugurated, which, along with various facilities, also offers coin-operated laundry services.

Furthermore, Hybrid card-op laundry payment allows one to audit the amount of both coin and card sales in each of the machines. As money boxes near capacity, the one gets alerted by email and schedule the right time to have them emptied. Along with this, with an accurate system of accounting for machines, the collections get correctly deposited. Hybrid coin-and-card systems allow one to take the complexity out of dealing entirely with coins alone and save time. As a result, the acceptance of payment through various different channels can increase the traction and contribute to the growth of the industry.

Also, even though the COVID-19 pandemic is on the decline in terms of its impact, its economic impact continues to spread. From laundry businesses having to close down temporarily to closing up shop completely, the ripple effects that the outbreak has had and will continue to have on the national and global economies are unprecedented. For many Europeans, it was routine to run a quick wash at the local laundromat after coming home from work. However, with many Europeans still working from home, the need to go out and use these services has declined.

Related Press Release@ Europe Coin-operated Laundries Market Report

Europe Coin-operated Laundries Market Report Highlights

• The market is expected to witness a CAGR of 9.1% from 2021 to 2028
• The residential application segment accounted for the largest revenue share of 80.5% in 2020
• Germany held the largest revenue share of 17.1% in 2020

The Europe Natural Dyes And Pigments Market size is anticipated to reach USD 2.18 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 10.1% over the forecast period. The market is anticipated to witness growth due to the increasing demand for digital inks in fabrics and printing inks. Moreover, the raw material price volatility and environmental concerns arising during the manufacturing of synthetic dyes and pigments have further contributed to the development of the natural dyes and pigments market in Europe.

Natural dyes offer better UV protection than synthetic dyes. They exhibit higher UV absorption in the fabrics and result in protection from the sun’s harmful rays. Synthetic colorants tend to be harmful, rendering allergic and intolerance reactions in humans. The non-carcinogenic, non-toxic, and biodegradable characteristics of natural dyes and pigments have proved to be a safer alternative to synthetic colorants in the cosmetic industry.

Key players in the market are carrying out research and development to expand their product offerings. For instance, in July 2021, GNT Group B.V., a company specializing in creating dyes from fruit, vegetables, and edible plants, expanded its range of plant-based EXBERRY colors by launching two new green shades made from turmeric and spirulina.

The Europe market for natural dyes and pigments has witnessed an increase in merger and acquisition activities by key players to strengthen their position in the market. As of 11th October 2021, Givaudan announced the acquisition of DDW The Color House which produces colors from natural sources like fruits, vegetables, and seeds and caters to the food sector. This acquisition is expected to enable Givaudan to become a global leader in natural colors.

In October 2020, Givaudan launched New Red 1805, a vegan high-performance red pigment for use in make-up formulations. It has been crafted for lipstick creation in cosmetics applications. The introduction of new natural pigments is expected to result in market growth for natural dyes & pigments in Europe.

Related Press Release@ Europe Natural Dyes & Pigments Market Report

Europe Natural Dyes & Pigments Market Report Highlights

• The phycocyanin pigments product segment is expected to witness the highest CAGR of 11.8%% over the forecast period in terms of revenue. Phycocyanin segment has a more epitome blue colorant than indigo and gardenia and is expected to witness an increase in demand due to the growing food and beverage industry in Europe over the forecast period
• The growing demand for natural dyes and pigments in Europe is driven by the increasing demand for natural ingredients-based cosmetics and the consumer preference for natural food colorants
• Natural dyes and pigments are more expensive than their synthetic counterparts since their production involves advanced technological processes such as the systematic extraction of pigments, which increases their price. This is expected to hinder the market growth
• Germany accounted for a share of more than 19.0% of the overall revenue in 2020. It is expected to witness a growth of over 10.0% during the forecast period

The U.S. RTD Organic Tea Market size is anticipated to reach USD 3.09 billion by 2028, registering a CAGR of 4.4% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for ready-to-drink (RTD) beverages, owing to consumers’ busy lifestyles and hectic work schedules, is driving the growth of this market. This trend has grown significantly in the U.S. over the past few years, despite - and in many ways because of - the COVID-19 pandemic as consumers are focusing on living a more active lifestyle, which also includes spending more time outdoors. Moreover, the growing number of working individuals is anticipated to drive the demand for convenient RTD beverages, including organic tea.

Millennials and working professionals are becoming increasingly health-conscious and are shifting to healthy foods and drinks. Key players are launching new products that are tasty as well as healthy. For instance, in May 2019, The Granny Squibb Company launched a new range of canned RTD organic teas in three flavors. These product launches are increasing product visibility and driving the demand in the western region of the U.S. Nowadays, consumers are willing to spend more on eco-friendly and convenient food and drink products. RTD organic teas sold in cans are immensely popular among this consumer group as the 100% recyclability of aluminum cans attracts those who are particularly conscious about their environmental footprint.

Studies claim that aluminum cans are less costly to fill and transport and easier to stock and stack as compared to glass bottles, which leads to less breakage. The Southwest region is anticipated to register the fastest CAGR of 5.4% during the forecast period. RTD organic tea is majorly sold through supermarkets and hypermarkets in the Southwest region of the U.S. Key local players are opening new stores to gain maximum customers. For instance, in March 2021, H-E-B Grocery Company, a supermarket chain in Texas, announced to open two new stores in Frisco and Plano, one in each city, by the end of 2022. These market trends are anticipated to boost product sales through supermarkets and hypermarkets distribution channels in the region over the forecast period. 

Related Press Release@ U.S. RTD Organic Tea Market Report

U.S. RTD Organic Tea Market Report Highlights

• The demand for organic tea is estimated to increase at a rapid pace over the coming years due to its multiple health benefits
• Through various studies, it has been found that it helps enhance digestive health by improving the activity of healthy bacteria in the gut. Furthermore, it contains theanine, which reduces anxiety
• The black RTD organic tea type segment accounted for the largest revenue share in 2020 and will expand further at a steady CAGR from 2021 to 2028 retaining the leading position in the market
• New product launches, innovations, and packaging upgradations in relation to organic RTD beverages are some of the strategies adopted by the key players to gain a higher market share
• Southeast is expected to record the fastest growth rate from 2021 to 2028 due to the growing consumption of RTD beverages in states including Illinois and Texas

The global Ethnic Wear Market size is anticipated to reach USD 126.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.3% from 2021 to 2028. Due to globalization, the transfer of culture and tradition, as well as individuals traveling and residing in different countries, there has been a strong demand for ethnic clothing from many nations across the world. Furthermore, the worldwide desire for ethnic dresses at theme-based functions, rent-based models for renting ethnic garments, and the expansion of distribution channels through e-commerce are driving the ethnic wear market.

Many retailers and global brands introduced more ethnic wear collections into their product line. For Instance, In April 2020, H&M Group, a Swedish retailer announced to introduce a saree collection in collaboration with designer Sabyasachi Mukherjee. In September 2019, Japanese brand Uniqlo launched its first retail store in India and introduced a special kurta collection.

The fashion and textile industry in the Middle East & Northern Africa region is increasing with annual spending for fashion per person in Saudi Arabia and in the UAE being among the highest in the world. The Middle East market represents enormous growth opportunities amid a pessimistic global outlook for the industry. The Middle East still has potential, despite an already well-established fashion market. Several buyers in the region have developed a taste for both modest fashion and homegrown labels that reflect their culture. The demand for ethnic wear including burkhas and hijabs is projected to witness significant growth owing to the increasing availability of products through various brands including Tommy Hilfiger.

Some apparels manufacturers in Africa are initiating to integrate sustainability into their textile and fashion supply chains. The Moroccan government for instance is providing incentives for companies to be sustainably certified. Also, many global brands have implemented environmental priority standards for North Africa’s garment producers. Incremental changes in resource-efficient and cleaner production are already taking place in various African sourcing countries. Also, ethically made clothing and apparel are gaining significant traction in the region. This is expected to generate demand for ethically manufactured ethnic wear in the coming years.

The online distribution channel is the fastest-growing segment with a CAGR of 6.1%, the segment demand was driving due to the pandemic. Many brands across the world are focusing to get maximum business through e-commerce as it provides convenience of contactless delivery. The surge in work from home for many employees has resulted in an increase in online businesses of ethnic wear brands.

Related Press Release@ Ethnic Wear Market Report

Ethnic Wear Market Report Highlights

• The ethnic wear market is expected to witness a CAGR of 6.3% from 2021 to 2028
• The offline segment accounted for the largest revenue share of 63.8% in 2020 and is expected to expand at a CAGR of 6.0% from 2021 to 2028
• Among end-users, the women segment is expected to witness the fastest CAGR of 6.6% over the forecast period
• Asia Pacific dominated the market and accounted for the largest revenue share in 2020 and is projected to witness a CAGR of 6.5% over the forecast period

The North America Unit Dose Manufacturing Market size is expected to reach USD 21.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.9% from 2021 to 2028. The rapidly growing pharmaceutical industry and rising demand for unit doses are factors driving the market.

Single-dose packaging has certainly become one of the most popular recent trends. The most obvious benefit is its ease of use and improved medication management, as they can be prescribed by the unit, ensuring that the person taking it does not exceed the prescribed dose. Stick packs are unique in the way that they can be used to package a variety of items, both dry and wet.

Measuring cups, teaspoons, tablespoons, and multi-dose containers for oral liquids and eye drops have been already seen. The current patient is seeking convenience. Doctors are also appreciating the importance of unit dose in prescription writing since it allows them to prescribe controlled substance oral liquid without concern of abuse as unit doses address the issue. It also enables pharmacists to store oral liquids in a secure manner, which is a significant additional benefit. Nearly every single unit dose oral solid or multiple-dose oral liquid could be transformed to a unit dose oral liquid due to this innovation.

However, owing to the COVID-19 pandemic's repercussions, the unit dose manufacturing market increased at a modest 11.0% year over year in 2020. By the end of 2020, the market started to recover. COVID-19-related illnesses are being treated using unit dosages. Hospitals have updated and implemented various new standard operating procedures to protect both patients and healthcare workers. As a consequence, it's crucial to consider out viral transmission by airborne transmission or direct contact. When unit dose medicines are used, some of the risks involved with handling and pouring doses from the same bottle are reduced. 

Related Press Release@ North America Unit Dose Manufacturing Market Report

North America Unit Dose Manufacturing Market Report Highlights

• The outsourcing segment dominated the market and accounted for the largest revenue share of 59.6% in 2020. Unit doses lead to the minimization of credits for drugs coupled with greater control by a pharmacist over work patterns and schedules
• The solid unit dose segment held 49.1% of the revenue share in 2020. In 2018, oral solid dosage medicines accounted for 53% of all new pharmaceuticals approved by the FDA
• The independent pharmacies segment dominated the market and accounted for the largest revenue share of 34.1% in 2020
• The hospital segment held the second-largest revenue share in 2020. The segment is estimated to become 3.5 times of itself by 2028

The global Healthcare ERP Market size is expected to reach USD 10.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2021 to 2028. Healthcare organizations are under pressure to adopt technological solutions to curb the rising expenditures, ineffective hospital service management, rising workforce shortage, and growing patient population. The rising awareness regarding benefits associated with adopting ERP systems, such as high-quality care delivery solutions, eliminating back-end manual activities, and minimizing operational expenses, contribute to the healthcare enterprise resource planning market growth.

The growing demand for ERP systems from small and medium businesses to enhance business processes and outcomes are driving the market. Seamless access to centralized data from remote locations improves the functioning and data management of the organization. The COVID-19 pandemic exposed the shortcomings of the existing systems adopted by healthcare organizations. During the pandemic, several businesses began adopting ERP systems to automate and digitalize their business processes and streamline their workflows to enhance their productivity and efficiency.

The finance and billing function segment dominated the market in 2020 owing to the growing need to amalgamate the front-end revenue cycle management processes, such as patient access, with back-end activities such as claims management. The inventory and material management segment is expected to grow significantly over the forecast period due to the feature of real-time access to manufacturing and supply chain management. The on-premises deployment segment dominated the market in 2020 due to minimizing costs and ease of access. The cloud deployment segment is expected to grow lucratively over the forecast period owing to the growth of cloud computing and improved accessibility of the internet.

North America dominated the market in 2020 due to rising adoption rates of advanced ERP systems and the emergence of AI-empowered solutions, coupled with infrastructure development. Asia Pacific is expected to register a significant growth rate over the forecast period owing to the emergence of start-ups providing AI-powered ERP systems, growing public and private partnerships to promote healthcare IT infrastructure, and availability of an economical high-skilled workforce.

Related Press Release@ Healthcare ERP Market Report

Healthcare ERP Market Report Highlights

• The healthcare enterprise resource planning market growth can be attributed to the growing digitalization of business processes to streamline workflows
• In terms of function, the finance and billing segment dominated the market in 2020, owing to the need to lower barriers between front-end revenue cycle management processes and back-end activities
• The on-premises deployment segment dominated the market in 2020 owing to the ease-of-access and minimum maintenance cost of ERP solutions
• North America dominated the market in 2020 due to the rise in adoption of advanced ERP systems and the significant presence of market players

The global Hair Restoration Market size is anticipated to reach USD 13.6 billion by 2028, according to the new report of Grand View Research, Inc. The market is expected to expand at a CAGR of 15.4% from 2021 to 2028. Hair restoration technique which includes surgical as well as a non-invasive treatment option is an effective procedure to increase hair thickness, fill in a receding hairline, and treat baldness as well as severe alopecia.

According to the American Academy of Dermatology, androgenic alopecia is the most common cause of hair loss in both men and women. According to the American Hair Loss Association, 95 % of hair loss in men is caused by androgenetic alopecia and around 40% of men notice symptoms of baldness by the age of 40.

The market is currently witnessing a surge in treatment adoption due to high psychological stress, poor dietary habits, reduced nutritional levels with age progression, and increasing hormonal changes due to lifestyle shifts among the global population. This surge can also be due to the increased success rate of the transplantation procedures and technological advancement in the field of less invasive hair repair.

In the light of COVID-19, the market was hampered as the footfall of patient appointments for surgical Follicular Unit Extraction (FUE) or Follicular Unit Transplantation (FUT) treatments was temporarily suspended. However since the government in many countries has allowed resuming elective surgical procedures, clinics have also started hair transplant procedures again and international organizations like the International Society of Hair Restoration Surgery (ISHRS) has set strict protocols for resuming hair restoration practices as well as offer patient guidance in finding hair repair clinics deemed.

Related Press Release@ Hair Restoration Market Report

Hair Restoration Market Report Highlights

• By procedure, the FUE segment held the largest market share in 2020 as it is a minimally invasive surgery with negligible pain, and has faster post-operative healing
• Based on the therapy, the platelet-rich plasma segment accounted for the largest revenue share in 2020 as these plasmas are rich in multiple growth factors and proteins that collectively stimulate, repair, and aid in wound healing and help in possible hair growth
• Asia Pacific dominated the market in 2020 owing to technological advancements and an increase in patients opting for procedures to improve aesthetic appearances
• In MEA, the market is bound to grow significantly during the forecast period. This is expected to be majorly contributed by the large population and rapid urbanization coupled with increasing awareness regarding the aesthetic procedure in this region

The Europe Homogeneous Precious Metal Catalyst Market size is expected to reach USD 2.4 billion by 2028 registering a CAGR of 18.9% over the forecast period, as per a new report by Grand View Research Inc. Increasing preference for homogeneous catalyst over heterogeneous ones owing to their specific features, especially associated with selectivity, drive the market growth. Furthermore, the market is expected to witness a significant hike in demand amid the Covid-19 pandemic as PGM catalysts are utilized in the formulation of several APIs, such as a few antibiotics used for Covid-19 treatment.

The demand for the product is likely to be prominent from the pharmaceutical & biomedical and petroleum refining end-use industries. In addition, the presence of refineries at prime locations, coupled with top oil & gas companies, is estimated to contribute to the product demand. Moreover, growth in the agrochemicals and power generation sectors in the European economies is anticipated to augment the product demand over the forecast period.

In addition, the market is expected to witness significant growth over the forecast period owing to the benefits it has received from high-value product segments. For instance, the application of catalysts in an automobile reduces carbon emissions that are harmful to the environment and, thus, their application is highly promoted by the governments. In addition, increasing energy demand from economies, such as France, Slovakia, Hungary, Belgium, Sweden, and Bulgaria, is likely to drive the market.

The presence of adequate oil reserves in countries including Russia, Norway, the U.K., and Italy, is expected to further complement the market growth in the region. Consequently, major market participants are shifting their focus toward increasing capacities and catering to the growing demand across geographies. Market players in the region are focusing on innovation for the development of advanced products to exhibit better performance during the process. Such factors have bolstered the market growth in the region. However, the Covid-19 pandemic has affected several key economies, such as Italy and Germany, limiting the market growth.

The governments in these countries had imposed complete lockdown, which restricted the movement of all forms hampering the overall oil consumption by the transportation sector. In addition, curtailed commercial and industrial activities have further reduced fuel consumption. Consequently, refiners are forced to cut their production instantly, which may result in high expenses once the situation settles. Furthermore, some refiners are projected to lose their share to competitors, which is expected to hamper the overall product demand in the short run.

Related Press Release@ Europe Homogeneous Precious Metal Catalyst Market Report

Europe Homogeneous Precious Metal Catalyst Market Report Highlights

• The market is moderately consolidated with the presence of multinationals striving to fulfill the rising demand
• Market players are intensely focused on optimizing & managing supply efficiency and ensuring their ability to compete with other players by enhancing operating efficiency, increasing productivity, reducing lead time, and addressing sourcing requirements
• Manufacturers supply their products to various end-use industries, including pharmaceutical & biomedical, refineries, agrochemicals, electrochemical, and power generation, through various distribution channels, such as direct-supply contracts and third-party supply contracts with vendors and wholesalers
• Strategic alliances by key players with research institutions to enhance product innovation capabilities are likely to be witnessed more during the forecast period
• The introduction of different recycling concepts for metal catalysts; for instance, with organic solvent nanofiltration or scrap catalytic converter recycling, is predicted to drive the market

The Latin America Maintenance, Repair And Overhaul Market size is likely to reach USD 41.01 billion by 2028, registering a CAGR of 4.7% over the forecast period, according to a new report by Grand View Research, Inc. Adolf Würth GmbH & Co. KG., Applied Industrial Technologies, Motion Industries, Inc., WESCO International, Inc., Sonepar, W.W. Grainger, Inc. are some of the key players in this industry. Rising investment in repair operations, coupled with the increasing frequency of scheduled and periodic maintenance and optimization in the supply chain is expected to drive the market during the forecast years.

The presence of stringent regulatory norms regarding worker safety and operating conditions during industrial production is expected to result in an increased frequency of the maintenance cycles, thereby boosting the market growth. In addition, rising concern regarding increasing the overall productivity in industrial operations without any machine failure is expected to augment the demand for maintenance, repair, and overhaul (MRO) services in the market.

The emergence of various e-commerce platforms coupled with the market players' web portals for product distribution is benefiting the market in terms of direct sales. In addition, factors such as strengthening the supply chain and rising trend to build an effective inventory management process are expected to create new growth avenues for the market during the forecast period.

The market includes a chain of various parts & components manufacturers, specialists, distributors, retailers, and end-users, where manufacturer and distributor play an important role in strengthening the value chain along with monitoring the product pricing. The prices are primarily commanded on a customer-by-customer basis for an enhanced sales process.

Related Press Release@ Latin America Maintenance, Repair & Overhaul Market Report

Latin America Maintenance, Repair & Overhaul Market Report Highlights

• The industrial product segment led the market in 2020, in terms of revenue share. The segment is estimated to grow at a steady CAGR of 4.2% during the forecast years on account of rising production output coupled with industrial development in the region
• Transportation is expected to be the fastest-growing end-use segment during the forecast period owing to the increased expenditure of aircraft MRO due to rising fleet sizes
• The food, beverage, & tobacco end-use segment is also projected to have significant growth over the forecast years owing to the growing production cycles and manufacturing capacities, primarily in the F&B industry in the region
• Brazil is estimated to dominate the Latin America MRO market, in terms of revenue, growing at a CAGR of 4.4% during the forecast period, owing to the adoption of high periodic & scheduled MRO activities among various end-use industries in the country, including mining, construction, pharmaceuticals, and textiles
• Global market players attempt to gain a higher market share and enter new markets by partnering with the local companies for product distribution to leverage the existing distribution network of the latter

The India Electric Vehicle Market size is expected to reach USD 152.21 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 94.4% from 2021 to 2030. Audi AG, BMW AG, Hyundai Motor India, Jaguar Land Rover Limited, Mahindra & Mahindra Ltd are some of the key players in this industry. The stringent regulations being drafted by the Indian government in response to the rising levels of vehicular emissions and the growing demand for environment-friendly vehicles are expected to drive the growth of the market over the forecast period. The efforts being pursued by the government to develop sustainable charging infrastructure in India also bodes well for the growth of the market.

Although the electric vehicle market in India is in its nascent stages at present, it is poised to emerge as one of the leading electric vehicle markets in the world. The Indian government has been pursuing consistent and committed efforts and has already drafted dedicated EV policies and rolled out various demand and supply incentives as part of the efforts to encourage the adoption of e-mobility across various market segments. For instance, India’s Department of Heavy Industry (DHI), under the National Electric Mobility Mission Plan (NEMMP) 2020, has formulated the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme to support the development of both Hybrid Vehicles (HV) and Electric Vehicle (EV) markets as well as that of their manufacturing eco-systems.

The growing popularity of electric vehicles is prompting the leading automotive manufacturers to launch electric vehicles in India. For instance, in October 2019, Maruti Suzuki, a leader in the conventional vehicle market, announced plans to launch electric vehicles for personal use for the Indian market in the following years. Similarly, in August 2021, Tata Motors launched the Tata Tigor EV in the Indian market. As the market continues to evolve and the consumer preference continues to shift from conventional vehicles to electric vehicles, more and more conventional vehicle manufacturers are expected to launch electric vehicles in the Indian market, thereby driving the growth of the market over the forecast period.

The outbreak of the COVID-19 pandemic triggered a global economic slowdown. The electric vehicle market is particularly vulnerable to any global economic slowdown owing to its reliance on global sourcing for the core battery technology. Moreover, the initial purchase price of electric vehicles tends to be higher than the gasoline-fired and hybrid vehicles, which particularly restrains the adoption of electric vehicles among price-sensitive customers. However, the Indian electric vehicle (EV) market was unaffected by the outbreak of the pandemic. In India, the registration of new electric passenger cars increased by 109% y/y in 2020, with 5,905 new vehicle registrations noted during the year.

Related Press Release @  India Electric Vehicle Market Report

India Electric Vehicle Market Report Highlights

• In terms of product, the BEV segment dominated the market in 2020 and is anticipated to value at USD 116.80 billion by 2030. This can be attributed to the increasing preference of consumers towards EVs over ICE vehicles and restrictions on vehicular CO2 emissions
• The passenger cars segment is expected to expand at the highest CAGR of around 106% over the forecast period. The growth can be attributed to increasing investments by the government in EV infrastructure, along with tax benefits offered to consumers
• The rising popularity of electric vehicles is prompting the leading automotive manufacturers to launch electric vehicles in India, which is anticipated to create growth opportunities for the market in the country

The global Vials And Ampoules Market size is anticipated to reach USD 13.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.5% from 2021 to 2028. Schott AG, Gerresheimer AG, SGD SA, Nuova Ompi SRL (Stevanato Group), NIPRO Corporation are some of the key players in this industry. The market is predominantly driven by the rapid growth in the pharmaceutical industry mainly in emerging markets such as India and China. In addition, the COVID-19 pandemic has created a huge demand for vials and ampoules globally. The production of the COVID-19-vaccine at a large scale in various nations across the globe has significantly impacted the market scenario.

Companies such as Pfizer, Serum Institute of India, among other several biotechnology and pharmaceutical manufacturing companies are consistently doing R&D and developing vaccines with greater efficiency against coronavirus. The government of various nations has aimed to vaccinate the majority of their country’s population by the end of 2021. Thus, vials and ampoules manufacturers are ramping up their production capacity multi-folds. India is among the top worst hit nations in the world. Moreover, the government of India is aiming to vaccinate the majority of the 137 crores Indian population by the end of 2021. This, further accelerate the demand for vials in India.

Various vials and ampoule manufacturing companies such as Schott Kaisha and Gerresheimer India are scaling up their capacity in India. For instance, Gerresheimer India is planning to increase its capacity by 30.0%. Companies are developing hybrid plastic and glass vials and ampoules with increased durability and low cost. Such innovations by the market players are expected further increase their product demand in the global market.

Related Press Release@ Vials And Ampoules Market Report

Vials And Ampoules Market Report Highlights

• The glass material segment contributed to a revenue share of 77.5% in 2020. Glass is the most extensively used packaging material in the pharmaceutical industry owing to its properties such as non-reactive, non-corrosive, reusable, and recyclable properties
• The plastic segment is anticipated to grow well during the forecast period 2021 - 2028. Plastic vials are cost-effective, durable, and lightweight. Moreover, plastic gives design flexibility. Such factors are increasing the demand for plastic material in the manufacturing of vials and ampoules
• India is the second-largest market for ampoules and vials in terms of value in Asia Pacific. This is due to the huge production of generic medicines in India. India is the largest supplier of generic pharmaceutical products in the world. Moreover, the recent outbreak has increased the demand for vials and ampoules in India
• Pharmaceutical companies such as Serum Institute of India and Bharat Biotech have developed the COVID-19 vaccines i.e., Covishield and Covaxin. The production of these vaccines is on large scale, which further requires a huge number of vials. Thus, India is one of the major markets for vials and ampoules in recent times
• Among the product segment, the ampoules segment accounted for a majority of the revenue share in 2020. Ampoules are low-cost compared to vials. In the pharmaceutical industries and hospitals, doctors normally give 1ml to 3ml of vaccines to a patient which mainly comes in the ampoules format
• The key market players are utilizing their full capacity and rapidly increasing their production capacities due to the increasing demand for vials and ampoules in the manufacturing of COVID-19 vaccines. For instance, in November 2020, Schott Kaisha announced an investment of around USD 14 million in its existing production facility to increase the vials production capacity by 300 million pieces

The U.S. Restaurant Point Of Sale Solution Market size is expected to reach USD 4.74 billion by 2028, expanding at a CAGR of 3.9% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The rising demand for digital solutions for effectively managing restaurant business operations such as tracking employee attendance, inventory, online food order delivery status, and recording orders and sales is expected to drive the market growth.

However, the COVID-19 pandemic severely impacted the restaurant industry, disrupted the supply chain of the point of sale(POS) terminal market, and restricted people in their homes. These factors impacted fine-dine restaurants, affecting the overall demand for POS solutions. As of February 2021, nearly 110,000 restaurants in the U.S. had closed permanently. The pandemic also highlighted the need for improving POS solutions as small and medium-size restaurants were compelled to adopt digital services and embrace automation. Moreover, the concept of cloud kitchens started gaining immense popularity as it allowed businesses to capitalize on the rise in online food orders, boosting the demand for mobile terminals in these premises.

The growing need for contactless transactions, device upgrades, and the readiness of digital payments facilitating quick integration and sync with active accounts are expected to drive the demand for restaurant POS solutions. Furthermore, reduction in Total Cost of Ownership (TCO) and improved return on investments offered by the POS terminals have considerably increased their demand among SMBs. Also, the introduction to PIN and chip-embedded payment cards has reduced security concerns, thereby controlling sensitive data theft and augmenting demand for POS solutions.

The introduction of mobile payment applications has also fueled the demand for software solutions as cashless payments are gaining immense popularity among consumers. Merchants have started accepting mobile wallet payments via applications such as PayPal, Venmo, Samsung Pay, Google Pay, and Apple Pay. Along with facilitating cashless payment, contactless payment methods also helped limit the spread of COVID-19, which increased their popularity. Moreover, the availability of technologically advanced POS payment applications and terminals is expected to augment the demand for POS solutions in the restaurant industry.

Related Press Release@ U.S. Restaurant Point Of Sale Solution Market Report

U.S. Restaurant Point Of Sale Solution Market Report Highlights

• In terms of component, the software segment is expected to expand at the highest CAGR from 2021 to 2028. The demand for POS software has increased during the COVID-19 pandemic as restaurateurs adopted mobile POS terminals and upgraded their existing applications to support online food deliveries
• In terms of product, the mobile POS segment is expected to exhibit the highest growth rate owing to benefits such as affordability, quick integration, and mobility. Advanced mPOS software solutions are also equally capable of handling inventory, financial transactions, and sales information to support business operations
• In terms of end user, the FSR segment dominated the market in 2020 owing to the high demand for POS solutions across fine-dine and casual-dine restaurants. However, the FSR segment suffered significant losses in 2020 as the COVID-19 pandemic impacted the restaurant industry. The industry is recovering slowly in 2021 as many restaurants have reopened, expected to help the segment expand in the near future
• NCR Corporation; Toast Inc.; Square Inc.; Clover Network Inc.; and Oracle are some of the prominent players in the market. These vendors have created a strong ecosystem of distributors, technology, and channel partners in the country, driving the market growth.