The probiotics market is expected to grow at a compound annual growth rate of 12.06% to reach a market size worth US$110.496 billion by 2026. This market was valued at US$49.782 billion in 2019.
Probiotics are bacteria and yeast-like microorganisms that help humans and animals maintain a healthy intestinal microbial balance. The probiotics element promotes the body’s natural digestive juices and enzymes, ensuring optimal digestion. They can be taken as supplements or taken orally. Probiotics also protect healthy organisms from potentially dangerous bacteria. Probiotics are increasingly utilized to diagnose and treat mental problems, as well as digestive and neurological disorders. They further boost the human immune system, protect proteins and lipids from oxidative damage, and lower pathogen levels in the body. The probiotics market is growing due to rising consumer awareness of the health advantages of probiotics, increased usage of probiotics as an alternative to antibiotics, and more research on probiotics. Furthermore, the rising use of probiotics for children and the rise of e-commerce is likely to provide profitable prospects for market players.
Analysts anticipate that the market will rise due to the health benefits associated with probiotic-fortified foods and the growing importance of health consciousness among millennials.
Consumer health awareness is increasing, and most customers are constantly looking for nutritious food products to consume daily. Probiotics have been shown to provide significant health advantages, particularly for the human digestive system. Probiotics can be available as supplements or as ingredients in foods and beverages. Its combination with low-cost health foods including yogurt, fruit juices, and cultured dairy drinks has helped it grow a sizable market. Bifidobacteria and Lactobacilli, which are found in a variety of dairy products, including yogurt, are the most often utilized probiotic bacterial strains. Yogurt is the most common choice for probiotic ingestion in the dairy category.
Probiotics have recently been used to diagnose mental illness and neurological problems, both of which are quite common around the world. Mental health problems have been on the rise around the world, according to the World Health Organization. Mental health conditions have increased by 13% in the recent decade, owing primarily to demographic shifts. The rise in the number of individuals suffering from these ailments would help drive the probiotics market forward in the coming years. Furthermore, many European and North American nations have banned the use of antibiotics in animal feed, and growing product developments incorporating probiotic bacteria, such as chocolates, biscuits, and drinks, are anticipated to propel market development throughout the forecast period.
Consumers’ growing health consciousness, as well as the growing trend of veganism, are drawing them to a plant-based diet, which is predicted to increase demand for plant-based products. As a result, some companies are launching plant-based probiotics in order to expand their customer base. Chobani, an American food manufacturer, for example, announced the launch of a new probiotic drink in August 2020. Lemon Ginger, Pineapple Turmeric, Peach Mint, and Cherry Hibiscus Tea are the four new flavors offered.
The covid-19 pandemic has caused an increase in demand for these products, according to several producers and retailers. For example, Probi, a global leader in probiotics, reported a significant increase in sales of its products, which was certainly due to increased customer interest in immunity products.
The challenges of incorporating probiotics in functional meals may act as market restrictions
The development and commercialization of functional foods are complicated, costly, and uncertain. Consumer demand, technological conditions, and legislative regulatory framework are all variables in the success of functional food product development. Consumers’ understanding of the health impacts of individual components, on the other hand, can influence whether or not functional foods are accepted. To overcome all of the problems associated with the selection and development of the strain, as well as related manufacturing procedures, the researcher must work diligently. Probiotic strains are sensitive to pH and temperature fluctuations. The strains must be able to maintain themselves while integrating with functional meals. The most basic need for probiotics is that they contain enough bacteria to last until the expiration date. To provide health advantages in the host, probiotics must include specified strains and sustain a certain number of living cells. The minimal number of live cells required in a probiotic product for it to be effective has been determined by different countries. Temperature, air, and light all have an effect on these probiotic microbes, making their storage difficult.
During the forecast period, the food and beverage segment is expected to have a significant proportion of the probiotics market
There are three types of probiotics on the market: functional foods and beverages, animal feed, and dietary supplements. Because of the growing popularity of probiotic functional foods and beverages among consumers, analysts expect that the food and beverage segment will dominate the probiotics market. Probiotics are being driven by a number of variables, including consumer awareness, confidence in their efficacy, and safety. Customers are now taking a more proactive stance on chronic disease prevention. The rising investment by major players in the research and development of innovative goods is projected to have a positive impact on the global market for this segment. Amorepacific Group, for example, inaugurated its new green tea probiotics research center in February 2020 to further the study of lactobacillus, a beneficial microbial strain.
According to regional analysis, the probiotics market in the Asia Pacific is expected to hold a significant share during the projected period
The global probiotics market is segmented into five regions based on geography: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Due to the rising demand for probiotics in developing nations such as India and China, the Asia Pacific region is expected to increase significantly during the forecast period. The rapidly growing population, rising disposable income, and increased awareness of health advantages are the key drivers of demand in this region. In addition, the Japanese brand Yakult has a strong presence in these countries, successfully infiltrating the probiotic market. The use of probiotics in infant formula has been in high demand in China, and this trend is expected to continue in the coming years. Because of the aging population and a growing understanding of the need for preventive health, as well as a slew of research indicating advantages in areas like immunity, cognition, and skincare, the market has seen tremendous development.
Covid-19 Insights
The global demand for immunity-building products increased as a result of the Covid-19 pandemic. The probiotic business exploded overnight as people bought health-related items in huge numbers to protect themselves from the infection. Probiotic usage increased exponentially in 2020, according to a survey done by Natural Marketing Institute in May 2020. According to the survey, the number of probiotic users in the United States climbed by 66 percent, while new users in Italy increased by 188 percent, and probiotic users in China increased by 108 percent in May 2020 compared to the previous six months. In addition, the year-over-year sales of Yakult branded probiotic products climbed by 11.5 percent in March and 10.3 percent in April 2020, according to Yakult Honsha. Probi and Danone SA also saw an increase in probiotic demand during COVID-19. Meanwhile, Meiji Holdings announced that the value of its dairy products, including yogurt, increased in February and April of 2020, with a year-on-year growth rate of 7.4 percent in March 2020.
Probiotics Market Scope:
| Report Metric |
Details |
| Market size value in 2019 |
US$49.782 billion |
| Market size value in 2026 |
US$110.496 billion |
| Growth Rate |
CAGR of 12.06% from 2019 to 2026 |
| Base year |
2019 |
| Forecast period |
2021–2026 |
| Forecast Unit (Value) |
USD Billion |
| Segments covered |
Application, End-User, Ingredients, Function, Type, And Geography |
| Regions covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered |
Yakult Honsha Co., Ltd., Danone S.A, Nestlé S.A, Probi AB, Lifeway Foods, BioGaia, Mother Dairy Fruit and Vegetable Pvt. Ltd., Arla Foods AMBA, i-Health, Inc., Chr. Hansen Holding A/S |
| Customization scope |
Free report customization with purchase |
Security Analytics: A Shield Against Cybersecurity Threats
BlogThe security analytics market was valued at US$2.981 billion in 2019 and is expected to grow at a CAGR of 33.65% to reach a market size of US$22.705 billion by the year 2026.
The process of gathering and analyzing data in order to implement proactive security measures is known as security analytics. It is the foundation of modern data-driven enterprise security systems that can mitigate the consequences of a security breach. Raw data logs from throughout the network infrastructure are captured, stored, and processed in the process. Data is collected from network and physical layer devices such as switches, routers, and server hardware, as well as client-side application interfaces. Combining, cleansing, and correlating the data are all done. AI algorithms and advanced machine learning aid in the interpretation of data and the generation of actionable insights in the form of user-friendly reports. It is critical to have the specialized technical expertise to create and implement security analytics systems, which many developing countries lack.
The Increasing Need for Security Analytics in Organizations
During the forecast period, the security analytics market is likely to be driven by the growing need for analytics-based platforms for all sorts of companies around the world. Cybersecurity risks, data breaches, ransomware attacks, malware, and phishing are all on the rise around the world, putting pressure on businesses to implement these solutions. Because of the increasing sophistication of cybersecurity attacks, businesses must adapt to an ideology that assumes that attackers are already inside their IT systems. Traditional security systems like SIEMs and DLP were formerly thought to be a panacea for security concerns. These products, however, do not offer all the security functions defined in the NIST Cybersecurity Framework and should be used in conjunction with other solutions. DLP can only assist in identifying dangers and protecting against attacks whereas, SIEM can only provide the data needed to detect and respond to attacks. In today’s cyber security environment, these capabilities alone are insufficient to secure a complete infrastructure on their own.
Furthermore, an individual or a business risks drowning in a deluge of false warnings if their setup and data governance processes are not up to par. As a result, an organization’s security posture must be strengthened by applying security analytics across the board, including identification, detection, protection, recovery, and response. Organizations all over the world are implementing security analytics solutions to cut costs, which will fuel market growth throughout the forecast period. Many of these duties are mundane, time-consuming, and repetitious. Analysts can focus on higher-value activities thanks to automation. When using different point security products with separate data silos, implementing automation solutions becomes increasingly complex. Security teams cannot act quickly enough to neutralize threats without the automation of preapproved procedures, and system updates can often linger in IT ticketing queues for hours or days. Only by overcoming these traditional barriers can the Mean Time to Repair and Mean Time to Detect of cyberthreats be reduced. This allows businesses to detect and eliminate threats early in the life cycle of a cyberattack, preventing costly cyber catastrophes.
Network Security Analytics Will Account For a Sizable Portion of the Market
Security analytics solutions are in high demand due to network security applications around the world. Unlike other more well-behaved issue domains, security analysis does not easily lend itself to statistical analysis. Most of the time, programmers lack the essential information needed to create an accurate analytical engine. Furthermore, given attackers’ proclivity for adapting to changes, programmers will find it nearly challenging to create network security analytics solutions. In addition, there have been numerous incidents of network and web-app security failures in recent years that have resulted in catastrophic damage to a number of significant businesses and governments throughout the world. Furthermore, as traditional network security analytics solutions based on theory of Bayesian probability, which states that by capturing every element of a problem and mathematically calculating possible outcomes, it is possible to predict with high accuracy the likelihood of something happening, network security analytics solutions are becoming more reliable. Machine learning has the capability to cope up with massive amounts of data required by modern networks, which are spreading beyond traditional applications.
North America is Predicted to Hold a Considerable Market Growth Potential During the Forecasted Period
Based on geography, the analysis divides the security analytics market into the North American region, European region, south American region, the Middle East and African region, and the Asia Pacific region. Analysts predict that the North American region would be growing at an exponential rate during the forecasted period and have a significant share of the market during the projected period. In comparison to other regions, North America is the most expensive place for small or medium-sized businesses to experience a data breach. To stay ahead of the competition end-user industries in the region have been pioneers and early adopters of analytics solutions.
This has aided companies and small businesses in building large datasets and infrastructure to support the proactive use of security analytics. Securonix and Cylance Inc. The exponential rise in the use of mobile phones and the internet among populations in the Asia Pacific region is predicted to boost the market growth. The implementation of the General Data Protection Rules by the European Union, which now makes it essential for enterprises in the region to report data breaches, will boost the industry in Europe.
COVID Insights
The coronavirus pandemic severely impacted the security analytics market due to a physical shutdown around the world. The analysis shows that the pandemic has positively impacted the market with greater employment in analytics security solutions.
Security Analytics Market Scope:
Remote Patient Monitoring – Huge Savings in Medical Bills
Thought ArticlesThe global remote patient monitoring market is predicted to grow at a compound annual growth rate (CAGR) of 22.94% to attain a market size of US$85.031 billion by the end of 2026.
Remote patient monitoring is a method of collecting medical and health-related data and transmitting it to a healthcare professional with the use of digital technologies. The approach is not location-specific in the least. Patients’ health data can be collected from the dwelling itself, saving money on nursing and hospitalization. The most significant benefit of remote patient monitoring is a major reduction in medical costs, as this simple technology eliminates the full cost of hospitalization. The expansion of the remote patient monitoring market is aided by the support of telehealth and technological advancements in the field of health care.
The ever-increasing geriatric population provides great potential for the remote patient monitoring market during the forecasted period
The remote patient monitoring market is predicted to grow in response to the constantly increasing geriatric population. According to the World Health Organization, the proportion of people aged 65 and over climbed from 6% in 1990 to 9% in 2019, with a projected growth to 16% in 2050. As the number of individuals in the segment grows, so will the demand for remote patient monitoring systems, as the number of people suffering from chronic diseases grows. To accommodate rising demand, governments around the world will be pressured to support remote patient monitoring systems, which is expected to fuel the market expansion.
Growing awareness of healthcare in the remote patient monitoring market to create opportunities
There has been an increase in health awareness among the populace as cases of chronic illnesses such as diabetes and hypertension have increased. In addition, the number of people suffering from cardiac problems has increased dramatically in recent years. As a result of these causes, the importance of maintaining one’s health has grown among people in both developed and developing countries. In recent years, there has been a substantial increase in the demand for various health monitoring equipment for tracking health status. In addition, the number of specialist clinics and home healthcare businesses has increased in countries such as the United States, India, and Canada. Remote patient monitoring expands healthcare’s reach and accessibility while cutting down on unnecessary hospital visits for diagnosis, treatment, and admission. Remote patient monitoring saves a lot of time because the setup is usually done at the patient’s home, reducing the time for travel and waiting. Furthermore, it aids in the significant reduction of costs associated with hospitalization, nursing, travel, and other similar expenses. In the next years, these advantages are projected to entice more patients to switch to remote monitoring systems rather than traditional methods.
Resistance and skepticism among the remote patient monitoring market
Some healthcare professionals are opposed to the remote patient monitoring system since they feel that RPM appears to be the least effective patient engagement strategy. Based on their own experiences, healthcare professionals are skeptical that technology alone would modify the behavior of high-risk patients. Doctors are also concerned about the challenges they may have in processing the data they get. Some patients are concerned that third parties may gain access to their personal health information and utilize it for nefarious purposes. RPM requires high-speed internet access, which is difficult to come by for small healthcare organizations and rural hospitals especially in developing countries. On the other hand, it is vital to remember that not everyone owns a smartphone, and that elderly people often struggle to use modern devices like cell phones. Furthermore, healthcare fraud in telehealth and telemedicine practices may stymie market growth, as difficulties such as fraudulent reimbursement claims, billing cycles, and other issues may be prominent.
The hospital and clinics segment of the market has diverse market opportunities for the remote patient monitoring industry
Because of the large number of patients and tests performed in hospitals and clinics, they are expected to have a leading market share by end-user. A large target patient population base especially in developing countries prefers hospitals. The rising emphasis on effective and early disease diagnosis in hospital settings, growing procedural volume in hospitals, and the high budget of hospitals for introducing various technical advanced patient monitoring devices are all factors that contribute to this segment’s huge market share. The home care market is also expected to expand significantly in the coming years.
Rising use of blood glucose monitoring products
The patient monitoring devices market is divided into vital signs monitor, glucose monitor, blood pressure monitor, heart rate monitors, respiratory monitors, and others. Self-monitoring blood glucose systems and continuous glucose monitoring systems are examples of glucose monitoring systems. The category is predicted to rise due to rising diabetes incidences, new product launches, and rising usage of glucose monitoring devices in emerging countries. Continuous glucose monitors, which remind diabetes patients to take their insulin while allowing their physician to monitor the disease, and digital blood pressure monitors, which allow patients to remotely send their blood pressure and blood oxygen levels to physicians, are common examples of remote health monitoring devices.
Miniaturization is the next big thing in remote patient monitoring technology
Device manufacturers are reducing the size and invasiveness of their products while cooperating with new companies to boost their market share. For instance, Verily, Alphabet’s life sciences business has worked with Dexton, on a new implantable diabetes sensor that delivers health data through Bluetooth to monitoring devices or smartphones. Miniaturization will increase the convenience of using remote patient monitoring devices and hence propel the industry’s growth.
The North American region is likely to dominate the industry owing to technological growth in the health sector
Based on geography, the remote patient monitoring market is segmented into North America, Europe, South America, the Middle East and African region, and the Asia Pacific. Due to increasing demand for wireless and portable systems, sharp growth in the frequency of chronic diseases, the presence of complex reimbursement structures, and a reduction in medical expenses, North America is predicted to develop rapidly. The Asia Pacific area is expected to develop significantly over the projection period, owing to increased healthcare expenditure and an increase in disposable income. Japan, China, and India are expected to drive the usage of remote patient monitoring devices as a result of the rising population and rate of urbanization.
Coronavirus Pandemic Analysis
The analysis report also provides a deep study about the impact of the covid-19 pandemic on the market of remote patient monitors, stating how the lockdown and employment have severely impacted the remote patient monitoring market owing to a positive impact on the market demand of remote patient monitoring devices. The report also how the pandemic accelerated the growth of the market.
Remote Patient Monitoring Market Scope:
Wafer Handling Robots – An Integral Device for Superior Performance, Dependability and Cleanliness
BlogThe wafer handling robots market is expected to grow at a compound annual growth rate of 7.12% to reach a market size worth US$728.462 million by 2026. This market was valued at US$450.124 million in 2019.
Wafer handling robots are used to align and transfer wafers throughout various manufacturing operations in the integrated circuit fabrication industry. Wafer handling robots are utilized for a variety of tasks such as wafer cleaning, wafer packaging, and wafer cutting, and more. They have a wide range of qualities, including great precision, speed, and dependability. It allows for automation and minimizes contamination during wafer processing. Wafer handling robotics come in a variety of shapes and sizes, and manufacturers use them in various ways for the wafer handling process. SCARA robots, frog leg robots, and four-bar linkage robots are examples of these sorts.
Analysts Anticipate That the Market Will Grow Due to the Increased Application of Semiconductor Wafers Across Different Industry Verticals During the Forecast Period
Demand for smaller and thinner wafers for a better circuit that occupies less space in the device has led to an increase in demand for wafer handling robots for improved precision and accuracy, which will drive the market expansion during the anticipated period. According to a report by the Semiconductor Industry Association (SIA), worldwide semiconductor sales revenue reached $39.0 billion in October 2020, rising 6.0 percent from $36.8 billion in October 2019 and 3.1 percent higher than $37.9 billion in September 2020. Furthermore, according to the World Semiconductor Trade Statistics WSTS industry projection, worldwide semiconductor yearly sales would increase by 8.4% in 2021. Micro-Electro-Mechanical Systems (MEMS) are miniature mechanical and electro-mechanical components created by utilizing microfabrication techniques. Silicon wafers have long been utilized as a fabrication platform in microelectronics and MEMS which will further propel market growth.
Solar cells, electronics, and electric vehicles are just a few of the applications for wafers. In response to the growing demand for renewable energy, the installation of solar panels has expanded. The development of India’s largest floating solar power plant in Telangana, which is expected to be operational in May 2021, will house 4.5 lakh photovoltaic panels and create significant market demand for silicon wafers. Furthermore, increased solar panel installation and government assistance programs such as PM-KUSUM would boost the market’s growth prospects. Growing solar projects in the United States will have more market potential. Similarly, in the next ten years, the state of Nevada is set to spend $9 billion on solar plant construction, while 14 projects are planned in New York to accommodate the state’s growing demand. Texas has also announced the construction of 45 solar projects over the next decade, indicating that the solar wafer market would see significant expansion. These industries’ growth fuels the demand for wafers, which in turn boosts the demand for wafer handling robots.
The High Cost of Installation and Maintenance Can Act as a Constraint for Market Growth at a Global Level
The high cost of wafer handling robots is a major limitation in the global market, impeding market development. The initial cost of these robots is high, and they also come with retrofitting expenditures. These robots also require ongoing maintenance to maintain smooth operation, which takes a significant portion of the companies’ budget. Manufacturing businesses are hesitant to deploy wafer-handling robots as a result of these difficulties, which is slowing the market’s overall growth. Furthermore, handling these robots necessitates highly trained personnel who is familiar with its technicalities and operations. Hence, the operation is hampered by a lack of skilled labor. Furthermore, a competent workforce is more expensive than an unskilled workforce, resulting in a significant rise in spending. As a result, only large and financially sound companies have access to wafer handling robots, leaving small and medium businesses out of the market.
By Type, Atmospheric Wafer Handling Robots Are Anticipated to Witness a Significant Market Share During the Forecast Period
The wafer handling robots market is divided into two types: atmospheric and vacuum. During the anticipated time, the atmospheric system handling robots will have a major proportion of the market, while vacuum system robots will rise at a significant rate. The launch of Yaskawa Electric’s SEMISTAR- GEKKO MD 124D 5-axis, single-arm, atmospheric system wafer handling robots in May 2020 is projected to boost the industry’s market competitiveness. The new robot has superior features when compared to other robots in the business since it directly operates the robot arm utilizing its original AC servo motor. According to the business, the robot can double position accuracy while lowering vibration by 1/6th. SEMISTAR can also move 300mm semiconductor wafers, which increases production. During the anticipated time, technological innovation will generate a considerable market.
According to Regional Analysis, the Wafer Handling Robots Market in North America and the Asia Pacific Are Expected to Hold a Significant Share During the Projected Period
The global wafer handling market is segmented into five regions based on geography: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America and the Asia Pacific are expected to hold a considerable share of the market over the estimated period. The burgeoning manufacturing industry in the Asia Pacific, as well as the availability of a cheap, skilled workforce, will fuel market growth. Moreover, the market is primarily driven by growing nations such as China, India, Japan, South Korea, and Taiwan, where the semiconductor industry’s demand for wafer handling robots is quickly increasing. Technological improvement and development, as well as more flexibility, will result in robust growth in the market of North America.
COVID-19 Insights
The impact of the covid-19 pandemic prompted the authorities worldwide to implement containment measures in order to halt the virus’s cycle. Several economic operations came to a halt as a result, discouraging market expansion and progress. Most businesses, with the exception of medical supplies and life support items, have been severely damaged, including the Wafer Handling Robots Industry.
Global Wafer Handling Robots Market Scope:
Probiotics for Preventive Healthcare
BlogThe probiotics market is expected to grow at a compound annual growth rate of 12.06% to reach a market size worth US$110.496 billion by 2026. This market was valued at US$49.782 billion in 2019.
Probiotics are bacteria and yeast-like microorganisms that help humans and animals maintain a healthy intestinal microbial balance. The probiotics element promotes the body’s natural digestive juices and enzymes, ensuring optimal digestion. They can be taken as supplements or taken orally. Probiotics also protect healthy organisms from potentially dangerous bacteria. Probiotics are increasingly utilized to diagnose and treat mental problems, as well as digestive and neurological disorders. They further boost the human immune system, protect proteins and lipids from oxidative damage, and lower pathogen levels in the body. The probiotics market is growing due to rising consumer awareness of the health advantages of probiotics, increased usage of probiotics as an alternative to antibiotics, and more research on probiotics. Furthermore, the rising use of probiotics for children and the rise of e-commerce is likely to provide profitable prospects for market players.
Analysts anticipate that the market will rise due to the health benefits associated with probiotic-fortified foods and the growing importance of health consciousness among millennials.
Consumer health awareness is increasing, and most customers are constantly looking for nutritious food products to consume daily. Probiotics have been shown to provide significant health advantages, particularly for the human digestive system. Probiotics can be available as supplements or as ingredients in foods and beverages. Its combination with low-cost health foods including yogurt, fruit juices, and cultured dairy drinks has helped it grow a sizable market. Bifidobacteria and Lactobacilli, which are found in a variety of dairy products, including yogurt, are the most often utilized probiotic bacterial strains. Yogurt is the most common choice for probiotic ingestion in the dairy category.
Probiotics have recently been used to diagnose mental illness and neurological problems, both of which are quite common around the world. Mental health problems have been on the rise around the world, according to the World Health Organization. Mental health conditions have increased by 13% in the recent decade, owing primarily to demographic shifts. The rise in the number of individuals suffering from these ailments would help drive the probiotics market forward in the coming years. Furthermore, many European and North American nations have banned the use of antibiotics in animal feed, and growing product developments incorporating probiotic bacteria, such as chocolates, biscuits, and drinks, are anticipated to propel market development throughout the forecast period.
Consumers’ growing health consciousness, as well as the growing trend of veganism, are drawing them to a plant-based diet, which is predicted to increase demand for plant-based products. As a result, some companies are launching plant-based probiotics in order to expand their customer base. Chobani, an American food manufacturer, for example, announced the launch of a new probiotic drink in August 2020. Lemon Ginger, Pineapple Turmeric, Peach Mint, and Cherry Hibiscus Tea are the four new flavors offered.
The covid-19 pandemic has caused an increase in demand for these products, according to several producers and retailers. For example, Probi, a global leader in probiotics, reported a significant increase in sales of its products, which was certainly due to increased customer interest in immunity products.
The challenges of incorporating probiotics in functional meals may act as market restrictions
The development and commercialization of functional foods are complicated, costly, and uncertain. Consumer demand, technological conditions, and legislative regulatory framework are all variables in the success of functional food product development. Consumers’ understanding of the health impacts of individual components, on the other hand, can influence whether or not functional foods are accepted. To overcome all of the problems associated with the selection and development of the strain, as well as related manufacturing procedures, the researcher must work diligently. Probiotic strains are sensitive to pH and temperature fluctuations. The strains must be able to maintain themselves while integrating with functional meals. The most basic need for probiotics is that they contain enough bacteria to last until the expiration date. To provide health advantages in the host, probiotics must include specified strains and sustain a certain number of living cells. The minimal number of live cells required in a probiotic product for it to be effective has been determined by different countries. Temperature, air, and light all have an effect on these probiotic microbes, making their storage difficult.
During the forecast period, the food and beverage segment is expected to have a significant proportion of the probiotics market
There are three types of probiotics on the market: functional foods and beverages, animal feed, and dietary supplements. Because of the growing popularity of probiotic functional foods and beverages among consumers, analysts expect that the food and beverage segment will dominate the probiotics market. Probiotics are being driven by a number of variables, including consumer awareness, confidence in their efficacy, and safety. Customers are now taking a more proactive stance on chronic disease prevention. The rising investment by major players in the research and development of innovative goods is projected to have a positive impact on the global market for this segment. Amorepacific Group, for example, inaugurated its new green tea probiotics research center in February 2020 to further the study of lactobacillus, a beneficial microbial strain.
According to regional analysis, the probiotics market in the Asia Pacific is expected to hold a significant share during the projected period
The global probiotics market is segmented into five regions based on geography: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Due to the rising demand for probiotics in developing nations such as India and China, the Asia Pacific region is expected to increase significantly during the forecast period. The rapidly growing population, rising disposable income, and increased awareness of health advantages are the key drivers of demand in this region. In addition, the Japanese brand Yakult has a strong presence in these countries, successfully infiltrating the probiotic market. The use of probiotics in infant formula has been in high demand in China, and this trend is expected to continue in the coming years. Because of the aging population and a growing understanding of the need for preventive health, as well as a slew of research indicating advantages in areas like immunity, cognition, and skincare, the market has seen tremendous development.
Covid-19 Insights
The global demand for immunity-building products increased as a result of the Covid-19 pandemic. The probiotic business exploded overnight as people bought health-related items in huge numbers to protect themselves from the infection. Probiotic usage increased exponentially in 2020, according to a survey done by Natural Marketing Institute in May 2020. According to the survey, the number of probiotic users in the United States climbed by 66 percent, while new users in Italy increased by 188 percent, and probiotic users in China increased by 108 percent in May 2020 compared to the previous six months. In addition, the year-over-year sales of Yakult branded probiotic products climbed by 11.5 percent in March and 10.3 percent in April 2020, according to Yakult Honsha. Probi and Danone SA also saw an increase in probiotic demand during COVID-19. Meanwhile, Meiji Holdings announced that the value of its dairy products, including yogurt, increased in February and April of 2020, with a year-on-year growth rate of 7.4 percent in March 2020.
Probiotics Market Scope:
Laboratory Automation Market: A Way to the Future
Thought ArticlesThe laboratory automation market size is projected to grow at a CAGR of 7.55% to reach US$6,055.218 million in 2026 from US$3,638.769 million in 2019.
It has been observed a powerful rate in recent years and is forecast to exhibit fruitfully within the years to come back.
The integration of technology in the laboratory in order to optimize and allow new and more efficient procedures is referred to as laboratory automation. Laboratory automation contributes to improved accuracy, quality, and uniformity in clinical, nonclinical, and industrial contexts. The adoption of laboratory automation increases the quality of experimental data while also assisting in the reduction of total lab process times, resulting in improved productivity. A laboratory automation system is made up of several components, including machine vision, conveyor systems, robotics, and computer hardware and software. In order for laboratories to remain competitive in today’s market, lab automation is becoming a more realistic choice and a necessary system. Modern automation systems eliminate the need for researchers to conduct repeated activities. Lab automation helps by allowing laboratory personnel to keep control over the flood of samples, optimising efficiency, and delivering patient findings on time. The lab automation system is also having a positive influence on the entire healthcare business.
However, one of the major challenges impeding the growth of the laboratory automation market is the high initial investment cost. This high cost might be ascribed to the expenditures incurred by the laboratory for the adoption of modern technologies utilised in lab automation. Many small and medium-sized laboratories find it challenging to invest in automation due to financial restrictions. The high maintenance and service expenses associated with laboratory informatics solutions are also a significant impediment. Moreover, the cost of maintaining IT systems exceeds the cost of the programme itself. Furthermore, the laboratory automation industry’s expansion is hampered by a lack of risk-taking capacities and data on the cost-effectiveness of automation systems for small and medium-sized laboratories.
Advantages offered by laboratory automation and the surging in the applications is estimated to account for the growth of the laboratory automation market
One of the key reasons expected to fuel market growth in the near future is the increase in benefits provided by lab automation. A paradigm change from total manual intervention to lab automation has numerous advantages for clinical laboratories. Increased productivity, consistent findings, safe working conditions, and significant savings in time, space, and test costs are just a few of the key benefits. Lab automation allows the use of laboratory equipment for boring activities such as labelling tubes and sample verifications, as well as decreasing and eliminating the physical strain caused by manual chores, therefore lowering expenses and conserving lab space.
The increase in the number of lab automation applications is likely to drive market growth in the near future. Automation has recently discovered numerous uses in the laboratory that have revolutionised laboratory procedures that were previously carried out by manual involvement. Among them are automated chemistry applications, synthetic biology, cell line creation, genomics, cellular assays, and drug discovery, to name a few. As a result, a growth in the number of clinical applications of automated instruments for laboratories is expected to boost lab automation adoption over the projected period. Another factor that is likely to have a major influence on market growth in the near future is an increase in demand for miniaturisation. One of the primary reasons for the implementation of automated systems and workstations in clinical laboratories is to allow for the miniaturisation of research processes in order to develop solutions for various complex lab automation tasks in applications such as biotechnology, microbiology, and clinical chemistry, among others.
North America and Asia Pacific region fuelled the laboratory automation market
Based on Regions, the market for laboratory automation is metameric into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, the North America region emerged united of the leading regions; though, the market within the Asia-Pacific region is anticipated to develop at a fast rate as compared to different regions. North America is additionally anticipated to exhibit the highest rate / CAGR over the forecast amount 2019-2026. Factors like favourable federal perspective, broad acceptance of breakthrough technology, a large concentration of significant manufacturers, and the availability of modern healthcare infrastructure are all important. Furthermore, the region’s microbiological laboratories are seeking technologically new methods to deal with large samples. Several major companies in the country are commercialising partial or full laboratory automation systems for bacteriology. As a result, these advancements are expected to drive the laboratory automation market in North America to new heights.
The Asia-Pacific laboratory automation business is expected to develop at a rapid pace because to an alarming increase of COVID-19 cases, growing pharmaceutical exports, a focus on creating sophisticated healthcare infrastructure, and improved economic conditions. Because of government funds, public and provincial-level hospitals in this area are undertaking substantial facility renovations. Such innovations are opening up new prospects for the healthcare industry. These factors are projected to considerably increase demand for laboratory automation solutions, therefore propelling the laboratory automation market forward.
During the projected period, the Latin American laboratory automation market share is expected to rise significantly. Factors such as a growth in the number of laboratories, the rapid expansion of the pharmaceutical and biotechnology sectors, the growing prevalence of chronic diseases, and favourable government initiatives. The laboratory automation market in Latin America is growing mostly because to an increase in the number of labs with sophisticated systems, a surge in pharmaceutical and biopharmaceutical businesses, and a boost in R&D activities.
Covid-19 situation
The global COVID-19 pandemic has had an impact on many businesses. The COVID-19 pandemic has put diagnostic laboratories under tremendous strain, with teams boosting capacity and quickly extending testing menus while dealing with staff shortages and the requirement to maintain safe and socially isolated working conditions. Those diagnostic laboratories that have adopted process automation have been among the most effective in reducing interruption and even prospering in these tough settings. Because of the flexibility that automated systems provide, forward-thinking laboratories have been able to swiftly return to near-full production while adhering to local social distance standards. When the limitations are relaxed and employees can return, these laboratories will be in an excellent position to leverage their automated procedures to expand their capabilities. COVID-19 has compelled diagnostic laboratories to scale up services and extend testing capabilities, putting extra strain on physical infrastructure as well as data management systems. Extending high-throughput testing capabilities without expanding procedures in the digital domain might restrict the savings offered by automation and even jeopardise the results’ integrity. In the midst of a worldwide pandemic, mistakes in processing test results might have significant repercussions for disease transmission and destroy public faith in healthcare.
Global Laboratory Automation Market Scope:
Membrane Bioreactor Market: Wastewater Treatment for the Future
Thought ArticlesThe Membrane Bioreactor Market size is projected to grow at a CAGR of 8.54% to reach US$4.750 billion in 2026 from US$2.676 billion in 2019.
It has been observed a powerful rate in recent years and is forecast to exhibit fruitfully within the years to come back.
The term ‘membrane bioreactor’ (MBR) refers to wastewater treatment procedures in which a perm-selective membrane, such as microfiltration or ultrafiltration, is combined with a biological process, especially a suspended growth bioreactor. The rising need for water treatment solutions throughout the world is driving the market. This can be due to diminishing freshwater supplies and a constantly rising demand from the residential sector for chemical-free and clean drinking water. Furthermore, growing environmental concerns about effective sanitation and wastewater disposal are boosting market expansion.
The amount of wastewater produced in residential, commercial, and industrial complexes has increased significantly, and it is now treated by MBRs. In addition, the formation of submerged MBRs is functioning as a growth stimulant. These systems are low-cost and energy-efficient, as well as small and lightweight, and may generate tangential liquid flow around the membranes by aeration. Aside from that, the growing use of environmentally friendly water and wastewater management technologies in sectors such as chemical, pharmaceutical, power, food & beverage, and textile is fuelling market expansion. Other factors, including growing industrialization and the implementation of favourable government regulations for upgrading the existing wastewater treatment facilities with MBRs, are anticipated to push the market further. To strengthen their portfolio of high-purity water systems, Evoqua Water Technologies LLC, an industry leader in mission-critical water treatment solutions, acquired privately held Water Consulting Specialists, Inc., a leader in the design, manufacturing, and service of industrial high-purity water treatment systems, in April 2021.
However, the starting expenditures of MBRs are quite costly, which may limit market growth in the long term. Furthermore, operational expenses are high, which may stifle market expansion throughout the projection period. When contemplating MBR technology, there are a lot of financial variables to consider, as well as other factors to consider. Capital cost (CAPEX), operational cost (OPEX), overall cost or carbon footprint, size, robustness and residuals, and environmental effect are some of these. The energy demand and membrane replacement are the two most important components of operational cost (ignoring labour). The cost of chemicals is usually rather low. The primary sources of energy demand are aeration and sludge transfers, with permeate generation requiring energy to varying degrees depending on the MBR process design.
The Surging Use of Membrane Bioreactors in Wastewater Treatment and Growing Government Initiatives Is Estimated to Account For the Growth of Membrane Bioreactor (MBR) Market
During the forecast period, the growing demand for upgrading existing wastewater treatment facilities that have reached capacity is projected to boost the membrane bioreactors market. Membrane bioreactors are used to achieve bacterial digestion of waste organic matter and easy separation of the treated effluent from remaining suspended particles. Furthermore, favourable government efforts relating to improved wastewater treatment techniques are boosting the membrane bioreactor market. Membrane bioreactors are rapidly becoming the best available technology for wastewater treatment, as they can run at considerably greater solids concentrations than traditional activated sludge plants. Membrane bioreactors have become popular as a result of stringent government laws and regulations governing the disposal of industrial effluent. The use of membrane bioreactors is increasing as worries about industrial wastewater disposal grow. Membrane bioreactors are increasingly being used in the industrial sector to treat industrial wastes since they can work at high sludge concentrations. Furthermore, the rising population and diminishing freshwater supplies in developing economies are boosting membrane bioreactor use in a variety of countries. The demand for membrane bioreactors has grown as the cost of conventional water treatment procedures has increased, as they are deemed economically feasible for municipal wastewater treatment.
North America and Asia Pacific Region Fuelled the Membrane Bioreactor (MBR) Market
Based on Regions, the market for membrane bioreactor (MBR) is metameric into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, Europe emerged united of the leading regions; though, the market within the Asia-Pacific region is anticipated to develop at a fast rate as compared to different regions. Europe is additionally anticipated to exhibit the highest rate / CAGR over the forecast amount 2019-2026. Factors like particular government restrictions as well as geographical factors such as land availability, licence objectives, and subterranean aqua systems, Europe leads the membrane bioreactor (MBR) systems market.
The growth of the Asia-Pacific market is calculable to be fuelled owing to the region’s growing population is increasing demand for clean drinking water, putting pressure on water reuse and recycling. The need for water treatment is projected to rise as a result of water recycling and reuse, which is expected to boost the MBR market in the area. In the next years, the region’s membrane bioreactor market is projected to benefit from a shift in focus toward the building of centralised sewage treatment plants (STPs) and effluent treatment plants (ETPs), as well as increased urbanisation and population. Furthermore, the majority of regions sewage pipes have not been modernised or advanced in terms of wastewater treatment technology, resulting in inadequate treated wastewater quality. As a result, there is a need to update the regions wastewater treatment infrastructure, which is expected to drive the use of membrane bioreactor technology in the Asia Pacific region throughout the forecast period.
COVID-19 Situation
Lockdown measures are being implemented in a number of nations, causing manufacturing to be disrupted. In addition, there have been supply chain disruptions and delays in the operations of enterprises. Trade barriers have restrained the stock. The COVID-19 impact on the membrane bioreactor (MBR) market has been severely affected due to the uncertainty in the recovery timeline, the implantation of lockdown in various countries has had a negative impact on the production activities. The investments made in these sectors have been put on hold due to the pandemic across various counties and is expected to be postponed for at least a year. The partial operation of distribution centers and manufacturing unit have cause delays is new orders of membrane bioreactor (MBR). The worldwide demand of membrane bioreactor (MBR) have also been restricted which has hampered the market. The temporary lockdown and the shutting of manufacturing and production units has had an adverse effect on the industrial sector which in turn has affected the growth of membrane bioreactor (MBR) in the global market.
Membrane Bioreactor (MBR) Market Scope:
Importance of Embolic Protection Devices in Preventing Surgical Complications
Thought ArticlesThe embolic protection devices market is expected to grow at a compound annual growth rate of 7.63% over the forecast period to reach a market size of US$1,278.309 million in 2026 from US$764.000 million in 2019.
Embolic protection devices (EPDs) have the potential to lower clinical complications by preventing or reducing plaque particles from reaching the distal bed. An embolism is a particle of material called an embolus that lodges on the inside of a blood artery and causes a blockage. It can take the shape of a blood clot, a fat globule, an air bubble, or a foreign substance. The embolism can occur after surgery as a result of any injury to the walls, resulting in the development of clots in that location. The removal of these plaques and debris is critical because they can develop blockages, which can be fatal. When it is not monitored, it produces microinfarcts and left ventricular dysfunction. The use of EDP during percutaneous cardiac procedures has helped in reducing the number of complications due to debris being released into the bloodstream and causing blockages in smaller vessels. The devices are intended to collect and remove particles that may become dislodged during operations.
These devices are regarded to be a part of the most dependable, evidence-based method for minimising periprocedural myocardial infarction and other severe cardiovascular events. This process is always accompanied by imaging systems to determine that the gadget is positioned correctly. These gadgets are, without a doubt, a crucial component of the operation, according to experts. There is currently some evidence that using embolic protection devices during carotid and saphenous vein transplant procedures decreases peri-procedural complication rates considerably. Furthermore, studies from single-center clinical series in native coronary arteries and renal arteries reveal that using embolic protection may enhance the safety of these operations. However, large randomised studies are required to statistically establish the therapeutic use of these devices, owing to the significantly low complication rates of these procedures even without the use of embolic protection devices.
Rising incidences of cardiovascular, peripheral, and neurovascular surgery, as well as substantial expenditures in embolic device R&D, are the primary drivers driving market development. The rising prevalence of Transcatheter Aortic Valve Replacement (TAVR) procedures, as well as growing customer awareness of embolic devices, are both driving market expansion. Furthermore, The alarming spike in the number of deaths has caught the government’s attention, and as a result, more awareness initiatives are being implemented. This aspect is also helping to drive market growth.
Increasing Prevalence of Cardiovascular Diseases and Growing Awareness Towards Them
According to the Brain Aneurysm Foundation (BAF), an estimated 6.5 million people in the United States have an unruptured brain aneurysm each year, or one in every 50 people. The yearly rate of rupture is between 8 and 10 per 100,000 individuals. Furthermore, both the World Heart Federation (WHF) and World Health Organisation (WHO) report that cardiovascular disease is the number one cause of death globally, accounting for nearly 17 million deaths per year. According to World Population Prospects 2019 (United Nations, 2019), by 2050, one in every six persons worldwide will be over the age of 65, up from one in every eleven in 2019.
EPDs play a critical role in minimising complications caused by clogs in blood arteries caused by debris in the circulation. They are an integral element of the most dependable, evidence-based technique for minimising periprocedural MI and other severe cardiovascular events. Consequently, increasing the application of embolic protection devices to collect and remove debris that may be extricated during surgeries is one of the factors that will propel the embolic protection devices market forward in the coming years.
Furthermore, government agencies, non-governmental organisations (NGOs), and educational institutions from all over the world are conducting awareness campaigns to raise knowledge of cardiovascular and neurovascular illnesses and their potential treatments.
However, the availability of alternative treatments, such as drugs and medicines, as well as the high cost of medical equipment, may hamper market expansion.
The Introduction of New Products Will Contribute to the Market Growth During the Projected Period
Keystone Heart Ltd., a Venus Medtech Company, disclosed that it would perform the first international commercial case using The TriGUARD 3TM Cerebral Embolic Protection Device in October 2020. The TriGUARD 3 Cerebral Embolic Protection (CEP) Device had received the European CE Mark. It is built and designed in such a manner that it minimizes the danger of cerebral injury by diverting embolic particles away from the brain. During Transcatheter Aortic Valve Implantation (TAVI) and other surgical transcatheter cardiac operations, this is carried out from cerebral circulation.
Cardiovascular Systems, Inc., a medical device company developing and commercialising innovative interventional treatment systems for patients with peripheral and coronary artery disease, announced in March 2021 that the WIRION® Embolic Protection System had been used on the first patients in the United States. WIRION is a distal embolic protection filter that captures thrombus and debris from all sorts of peripheral vascular intervention operations, including atherectomy. Embolic protection devices are generally used in arteries above the knee that have lengthy lesions, a high plaque burden, and inadequate runoff.
Furthermore in April 2021, Contego Medical, LLC, a leading developer of advanced cardiovascular devices, announced that the Neuroguard IEP® 3-in-1 Carotid Stent and Post-Dilation Balloon System with Integrated Embolic Protection (Neuroguard IEP System) have acquired CE Mark. The Neuroguard integrated embolic protection (IEP) device is designed to increase luminal diameter in patients with clinically severe carotid artery stenosis by capturing and removing embolic particles simultaneously during angioplasty and stenting. The European Community CE mark of approval was granted to the Neuroguard IEP System following research involving 67 patients with a one-year follow-up that revealed an overall success rate of 100%, with a stroke and mortality rate of 0% at 30 days.
The Influence of COVID-19 on the Market for Embolic Protection Devices
COVID-19 has a major influence on 2020 globally. With Covid-19 cases growing worldwide, there is growing concerned about a lack of vital life-saving equipment and other essential medical supplies to prevent the spread of this pandemic and give the best possible care to those who have been exposed to the virus. Furthermore, until a pharmacological treatment is found, ventilators serve as an important treatment option for COVID-19 patients who may require critical care. Furthermore, there is a pressing need to accelerate the production process for a wide range of test kits (antibody tests, self-administered, and others).
Embolic Protection Devices Market Scope:
The Impact of the E-commerce Industry on the Smart Vending Machine Market
BlogThe global smart vending machines market is expected to grow at a CAGR of 13.30% from a market value of US$4.807 billion in 2020 to reach up to US$11.522 billion in 2027.
A vending machine is a machine that dispenses things kept within it in return for cash or tokens placed within. A complex vending machine that not only serves products but also interacts with consumers through the touchscreen, video, music, hand motion engagement, and cashless payment is known as an intelligent vending machine. Typically, smart vending machines deliver packaged food, drinks, and tobacco items. Furthermore, the increasing global e-commerce sector in addition to the rise of cashless and contactless payment methods by several companies will boost the market share in the upcoming years.
The global smart vending machine market is growing due to the increased need for cashless transactions, fast digitalization, increased reliance on ATMs, and global internet penetration.
Additionally, the increased usage of the Internet of Things (IoT) and smart device technologies is expected to drive the growth of the smart vending machines market during the estimated period. Consumers’ increased use of contactless and cashless payments for food and beverage transactions is driving industry expansion. The latest technologies, such as contactless mobile payments, face and voice recognition, Near-field communication (NFC), and government controls to display nutrition information and product warning, is expected to positively impact the intelligent vending machines market size over the forecast period.
Companies have taken the initiative to expand their operations along with enhancing their product offerings which are projected to be beneficial for the market trend
The implementation of innovative product launches along with the expansion of business operations will enable the market to explore international markets. The rising initiatives towards building enhanced productivity will generate market revenue in the long run. For instance, Asia Pioneer Entertainment, a Macau-based electronic gaming goods distributor, debuted a new business section in March 2021, with Smart Vending Machines deployed in various locations across Macau.
Additionally, the incorporation of digital payments will be beneficial for market growth. For instance, Co-op collaborated with Unilever in May 2021 to unveil a new smart ice cream vending machine in its Battersea Bridge Road shop in London. The machine is the UK’s first and only customer-smart ice cream vending machine, according to the business. The Walls-branded machine sells a variety of ice cream. Customers must tap their mobile on the vending machine “NFC” tag to purchase ice cream goods. Customers are then requested to confirm their payment method, which may include Apple Pay or Google Pay.
Moreover, Subway, a fast-food restaurant, introduced its vending machine in November 2022, taking its marketing to the next level. The firm opened its first “Grab and Go” location, which is stocked with pre-made sandwiches, beverages, and snacks. Subway’s Grab & Go smart vending machine is also known as a “smart fridge” since the foods offered there are refrigerated. Subway has chosen high-traffic areas for the installations, which will most likely be at hospitals, airports, and college campuses.
The increasing usage of cashless transactions in addition to the rise of the internet of things (IoT) will surge the market trend in the upcoming years.
According to the Ministry of Electronics and Information Technology, 74.22 billion digital payment transactions were registered in 2021-22, up from 55.54 billion in 2020-21, representing a 33% increase. One of the primary reasons for UPI’s rapid development is the success of payment system players’ (PSPs’) marketing initiatives in acquiring clients. Another element driving UPI penetration is its compatibility, which has expanded its use beyond payments to merchants via PSPs, allowing UPI to surpass all other types of digital payments. Furthermore, the deployment of universal QR codes across all types of stores in the country has boosted transaction convenience. Due to the rise of such payment methods, the market for smart vending machines is anticipated to surge.
The government has taken several initiatives to introduce digital payment methods that have added value to market sales. For instance, in August 2021, Prime Minister Narendra Modi via the use of video conferencing unveiled e-RUPI, a new digital payment option. e-RUPI is a cashless and contactless digital payment platform. The Prime Minister’s Office (PMO) stated in a statement that several programs have been implemented over the years to guarantee that benefits reach their intended users in a targeted and leak-proof method, to minimize touchpoints between the administration and the beneficiary. The instrument functions as an e-voucher based on a QR code or SMS string given to recipients’ mobile phones.
Furthermore, in July 2021, Parimal Shah, a Tea Sommelier from a family of Tea growers, founded the Indian business Cherise India, which launched a variety of smart, IoT, and Android-based vending machines. Cherise’s extremely user-friendly smart vending kiosks have their own customized Cherise IoT dashboard and application for monitoring operations. The Cherise offers its customers access to the IoT vending platform, which delivers real-time information about customer consumption habits, inventory, and payment at the push of a button.
According to analysts, the North American region is expected to witness positive growth during the forecast period.
Based on geography, the global specialty enzymes market is divided into North America, South America, Europe, and the Asia Pacific. Geographically, North America is anticipated to hold a significant amount of market share. Organizations in the North American area have a lot of money and can easily afford to spend it on intelligent vending machines, which drives up demand in the region. Furthermore, higher utilization of mobile payments, advancements in communication technology, and quicker internet access, among other factors, all contributed to the expansion. For example, in January 2021, France-based Sodexo will purchase Accent Food Services, a fast-growing regional consumer services organization located in the United States. Sodexo intends to improve its takeaway, delivery, and convenience store concepts, as well as multi-channel products like self-service pantries, workplace refreshments, and smart vending machines, with this purchase.
Smart Vending Machine Market Scope:
Company Expansions and Product Offerings in the Safety Switches Market
BlogThe safety switches market is anticipated to grow at a CAGR of 7.25% to attain a market size of US$3,299.625 million by 2029, from US$2,021.924 million in 2022.
A safety switch is a device that instantly turns off the electrical supply to reduce the possibility of electricity-related fires, shock, injury, or death if a defect is detected. There are several sorts of safety switches, each with its function and level of protection. Additionally, technological advancement has increased the number of production units equipped with heavy machinery. The expanding economies of developing and emerging countries are offering chances for the establishment of new manufacturing facilities. As a result, the requirement for safety switches for use in manufacturing facilities is expected to rise throughout the forecast period. Because of technological advancements, the demand for heavy equipment manufacturing facilities is increasing. The booming economies of many emerging and developing nations are creating opportunities for the construction of new production facilities and industrial plants. As a result, the global demand for safety switches is booming. Furthermore, the demand for a safer working environment drives the demand for safety switches. These safety switches are critical for the safe and effective operation of hazardous locations including industrial facilities, offshore drilling, petrochemical and waste sewage treatment, paint studios, and toxic waste processing facilities. Therefore, all these factors will contribute to the development of the safety switch market segment in the upcoming years.
Due to the rise of the end-user industries, the market for safety switches will grow
The rising use of safety switches in sectors such as food and beverage, mining, and automotive is driving market expansion. Furthermore, the advent of energy-efficient and environmentally friendly systems is boosting sales of these switches. The expansion of numerous end-use sectors, including oil and gas, medical, chemical, food and beverage, and so on, is also positively impacting the need for safety switches. Other important reasons influencing the market include increased automation in dangerous industrial sectors, growing preference for non-contact gate switches, rising urbanization rates, technical developments and upgrades, and so on. The requirement and flexibility of usage in a broad variety of applications, increased demand for safer equipment, downsizing of devices, and industrial safety regulations are the main drivers driving the expansion of the safety switches market. Personnel ranging from manufacturing workers to engineers operate on automated production equipment. This broad range and growing automation demand goods from a variety of end-user sectors such as food and beverage, petroleum and natural gas, healthcare, aerospace, and so on.
Furthermore, worker fatalities in commercial buildings or industries motivate the installation of safety switches.
The International Labor Organization (ILO) estimates that over 2.3 million people die each year as a result of occupational diseases or accidents, or over 6000 people every day. The market for safety switches will grow in the coming years as energy efficiency and power management needs rise across several industries, and the cost of active controller parts falls. Despite this, there is an increasing need for safety switches as a result of the growth and popularity of electric cars, which has resulted in the establishment of EV charging stations throughout the world. For instance, in June 2022, Eaton reinvests in the Triangle region of North Carolina to fulfill rising customer demand for sustainable data centers and EV charging infrastructure. This move enables Eaton to meet growing client demand for data center management technologies and EV charging infrastructure solutions.
Major Developments made by companies will surge the market’s future profitability
Several companies have launched new product range along with broadening their markets by entering collaborations that have significantly impacted the safety switch market. As a result of the company’s expanding operations and productivity, the implementation of safety switches will increase. For instance,
According to analysts, the North American region is expected to occupy a notable share of the market in the coming years.
Due to the rise of the automotive and manufacturing sectors in the Asia Pacific, the market for safety switches is anticipated to rise in the coming years. Furthermore, the developments made by the companies and the incorporation of safety switches into various product offerings will additionally boost the market’s profitability in the future. For instance, in September 2022, in Bengaluru, New Holland Agriculture, a brand of CNH Industrial, debuted the Blue Series SIMBA and its foray into the sub-30HP small tractor category. It has a neutral safety switch and a differential lock, which allow the tractor to be maneuvered safely and easily in any weather and on any terrain.
Safety Switches Market Scope:
Potentiometric Titration Technique – A Pressing Priority for High-Quality Output
BlogThe global potentiometric titration market is projected to grow at a CAGR of 6.21% during the forecast period.
Potentiometric titration is a method that is used to determine the concentration of a given chemical. The potentiometric titration technique is widely used in the pharmaceutical industry to analyze the final concentration of the medicines or characterizing acids. This technique uses an indicator electrode that can record the change of the potential of the added titrant of exactly known concentration. The potentiometric titration technique is considered one of the most consistent and robust techniques among the non-NMR methods. Additionally, this method was among the first methods used to investigate the speciation of heteropoly acids, which involves measuring the concentration of hydrogen ions in polyanion solutions as a function of the added acid or base. Furthermore, this process is used by the research and development labs in pharmaceuticals, petrochemicals, personal care, chemical, and food and beverage industries. Such extensive use of the Potentiometric titration techniques is likely to drive profits for the market players.
Analysts anticipate that the global potentiometric titration market will rise due to its widespread importance across different industry vertices.
The potentiometric titration method is the most common laboratory method which is widely used in the pharmaceutical industry. The method is commonly used as the weight percent assay for small-molecule active pharmaceutical ingredients (APIs), raw materials, and intermediates. Furthermore, this method is also applicable to determine the salt ratio and ionization state of a drug compound in the pharmaceutical industry. For example, this method can be used to determine the amount of sugar or sole in a particular product or drug. The titration technique used chemical analysis to determine the complete concentration in the final solution. On a wider basis, this is also a quality control process that is used in research and development labs, and for finished products in pharmaceuticals, petrochemicals, chemicals, etc.
Additionally, the potentiometric titration test results are vital to control variation and reduce the risk during the drug manufacturing process. Metrohm, one of the world’s most trusted high-precision instrument manufacturers addresses the importance of the potentiometric titration technique in the pharmaceutical sector. It mentions that among many other tests which are used to characterize a formulation, potentiometric titration is one of the most reliable, fastest, and most economical techniques. These significant benefits of using potentiometric titration techniques are expected to drive the market growth
Furthermore, cationic surfactants are used as disinfectants, bactericides, and also in the personal care industry. The rising demand for disinfectants in personal care and hygiene products has led to the misuse or overuse of these products. Consequently, this created a need to track down the use of cationic surfactants in these personal care products. The titration technique can determine the cationic surfactants’ contents. And thus, the potentiometric titration technique, which is new, fast, sensitive yet affordable has witnessed an increase in demand.
The varied opportunities for automation at every step of potentiometric titration have allowed the market to grow exponentially.
The rising research and development projects along with automation are aiding the growth of the global potentiometric titration market. The automation of the titration process allows it to opt for the different forms of dosage, analytes, and goals needed to ensure tight control of the raw materials used along with the quality of the finished pharmaceutical products with less human intervention. The reduced human intervention also improves accuracy and reduces the waste of time and materials that otherwise would have occurred due to human errors. It also allows increased throughput of the analytical lab. For instance, in 2019 Metrohm launched OMNIS titration which allows the users to consolidate all the titration applications on a single platform. The OMNIS titration enables the user to customize and automate its operations to ensure efficiency and safety. The modular design of this potentiometric titration device also allows the user to scale up the titration system to perform up to five parallel titrations. The company claims that this new OMNIs titration can save up to 60% of the time. Such technological advances and automation in the global potentiometric titration market are further escalating market growth.
Additionally, the researchers are focusing their efforts to develop a potentiometric titration device with sophisticated features like an easy-to-use interface, and diagnostic equipment that will allow going beyond the limits of currently available functions such as autonomous calculations, end-point detection, titrant dispensing, etc. thus, the increasing use of automation in potentiometric titration market in all given industries are supporting the growth of this market.
According to regional analysis, the potentiometric titration market in the Asia Pacific is expected to hold a significant share during the projected period.
The global probiotics market is segmented into five regions based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. Due to the rising pharmaceutical industries in developing nations such as India and China, the Asia Pacific region is expected to increase significantly during the forecast period. The rapidly growing population, rising disposable income, and increased awareness of health care along with personal are the key drivers of demand in this region. In addition, the higher production of titration equipment in countries like Japan is aiding the potentiometric titration market growth in the Asia Pacific. For example, Japanese companies like Kyoto Electronics Manufacturing (KEM) Co. Ltd., Japan Aqua Co. Ltd., and many more currently offer automatic potentiometric titrators in their product portfolio. Additionally, Europe and American subcontinents are also leading the race with high manufacturing units in these regions.
COVID-19 Insights
The pandemic had a significant impact on the global potentiometric titration market owing to the adverse impact of the restrictions. The predominant effect of pandemic-related import export disruptions in major end-user industries of potentiometric titration techniques such as personal care, chemical, packaging, etc. As a result of changing consumer preferences towards essential goods and services during the pandemic, the demand for personal care, chemical, and packing industries declined. Therefore, it significantly affected the use of the potentiometric titration technique in the mentioned industries. On the other hand, the increased operating powers of the healthcare, chemical, and medicine industries aided the growth of pharmaceutical industries post-pandemic, which is aiding the growth of the global potentiometric titration market.
Global Potentiometric Titration Market Scope: