The Cancer profiling market size was valued at $17.750 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 15.67 percent over the predictive period to reach $49.176 billion by 2027.

Cancer profiling is a test that searches for molecular pathways that may be driving a tumor’s growth by looking at unique DNA variations in a patient’s tumor. The idea is to find alternative targeted therapeutic drugs that can function against the routes that have been discovered. For specific cancer types, such as lung cancer, colon cancer, sarcoma, and melanoma, profiling for targeted therapy is more common. This is due to the fact that these malignancies are frequently linked to genetic alterations that react well to targeted therapies.

Growing cancer cases to drive the demand for cancer profiling

Cancer is the biggest cause of mortality globally, with approximately 10 million fatalities expected in 2020, accounting for roughly one in every six deaths, according to the World Health Organisation. Breast, lung, colon, rectum, and prostate cancers are the most frequent cancers. Tobacco use, high BMI levels, alcohol use, low fruit and vegetable intake, and lack of physical activity, account for almost one-third of cancer fatalities. Many such cancers are curable if diagnosed early and treated appropriately. Cancer develops when normal cells convert into tumor cells in a multi-stage process that usually goes from a pre-cancerous lesion to a malignant tumor. Physical carcinogens (ultraviolet and ionizing radiation), chemical carcinogens (asbestos, tobacco smoke components, alcohol, aflatoxin in food, and arsenic in drinking water), and biological carcinogens (asbestos, tobacco smoke components, alcohol, aflatoxin in food, and arsenic in drinking water) interact with a person’s genetic factors to cause these changes (infections from certain viruses, bacteria, or parasites).

The understanding of germline and somatic tumor genetics has increased dramatically in the last two decades, thanks to the publishing of the human genome sequence in 2003 and the application of next-generation sequencing technology since the turn of the century. This is especially effective in the context of targeted cancer therapies, in which we hope to improve outcomes by treating tumors with medications that are tailored to their molecular characteristics. Hundreds of malignancies have been sequenced across 38 tumor types by whole-exome and whole-genome cancer sequencing programs including The Cancer Genome Atlas (TGGA) and the International Cancer Genome Consortium. Cancer profiling is not only effective in the molecular profiling of common malignancies like lymphoma and breast cancer, but also the molecular profiling of lung cancer, prostate cancer, and acute leukemia. The developments in smart technology, nanomedicine, etc have helped in the proper diagnosis of cancer by reducing time delays and accurate identification of cancers. These developments, along with the growing cancer cases are expected to increase the market share of the cancer profiling market.

Inefficient in some cases

Cancer profiling has helped a lot of people in identifying and treating cancer cases. Since time is of the essence in such cases, the diagnosis of certain cancers in early stages could help patients in recovering from such cases.

However, the high upfront costs of setting up profiling units and the requirement for skilled employers are a hindrance to the market. Cancer profiling units are challenging to establish in underdeveloped and developing nations because they lack the necessary financing and equipment. Moreover, people lack awareness of cancer profiling in such countries.

Additionally, cancer profiling results are not always accurate. A positive profiling result may not necessarily mean that a person would develop cancer. Similarly, a negative result does not guarantee that a person would not develop a cancer case. Furthermore, cancer profiling can identify hundreds of cancer types from a person’s DNA. However, targeted therapies only work for a small number of cases, and even if the therapies match, there is no guarantee that the tumor would be responsive to the treatment.

However, with the rapid advancements and developments in the cancer treatment industry, the response rates of therapies are expected to increase substantially in the coming years.

North American Region to lead the market

The North American market is expected to be the largest and fastest-growing market for cancer profiling throughout the forecast period. The market is predicted to grow as a result of factors such as rising cancer rates and regional pharmaceutical breakthroughs. The American Cancer Society estimates a total of 1.9 million new cancer cases and more than 600,000 deaths in 2022. With the increasing number of cancer cases in the region, the market is expected to rise in the region.

Covid-19 Insight

The emergence of the COVID-19 pandemic resulted in a worldwide economic downturn. Most essential sectors have suffered major losses since various governments adopted lockdown measures and social distance rules. The cancer profiling market faced a slowdown in the market since the lockdown measures negatively influenced the routine screening procedures. However, the market was not significantly affected, since patients with COVID-19 are a lot more likely to develop lung cancer instances, due to COVID-19 being a lung disease. Hence, the COVID-19 did slow down the growth in the sector, but with most countries now restarting their industrial operations and lifting lockdown regulations, and with the increasing number of cancer cases around the world, the cancer profiling market is expected to rise.

Global Cancer Profiling Market Scope:

Report Metric Details
 Market size value in 2020 US$17.750 billion
 Market size value in 2027 US$49.176 billion
 Growth Rate CAGR of 15.67% from 2020 to 2027
 Base year 2020
 Forecast period 2022–2027
 Forecast Unit (Value) USD Billion
 Segments covered Technology, Cancer Type, Application, And Geography
 Regions covered North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Illumina, Inc., Qiagen N.V., NeoGenomics Laboratories, Inc., F. Hoffmann-La Roche Ltd, Genomic Health, GE Healthcare, Siemens Healthineers, Thermo Fisher Scientific Inc., Hologic Inc., Bio-Rad Laboratories Inc.
 Customization scope Free report customization with purchase

The optical transport network market was valued at US$28.193 billion in 2021 and will increase to US$28.193 billion by 2028. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 18.14%.

The Optical Transport Network (OTN) is a protocol that enables transport to become as essential as computation and storage in intelligent data center networking by making the network an open and customizable platform. OTN is a network-wide framework that allows Wavelength Switched Optical Network (WSON), SONET/SDH-like functionality. It allows for the creation of a new and advanced transparent and hierarchical network that can be used on both WDM/WSON and TDM devices. OTN is a protocol for conveying network communications across optical fiber networks, to put it another way.

According to analysts, the growing demand for bandwidth-oriented applications in various industries will be the driving force behind the market’s robust growth over the forecasted timeframe.

The unexpected increase in household and corporate internet users has created a new level of bandwidth demand in the network world. Because of the rising use of digital games, social media platforms, web conferencing, and many other real-time streaming activities, there has been a large uptake among residential users. One of the main reasons for the market’s rising traction is that it provides smooth data transmission and eliminates latency difficulties. Moreover, corporate customers, particularly financial companies and government entities, have seen significant growth in bandwidth requirements. Furthermore, due to the increasing pressure on current networks, companies have found it challenging to implement and manage their advanced systems. Latency, bandwidth limitation, robust management, transparent client signals, better scalability, and global acceptability as a standard are all difficulties that the current Synchronous Optical Network (SONET)/ Synchronous Digital Hierarchy (SDH) networks have. As a result, it is quickly displacing SDH/SONET worldwide.

Moreover, over the next few years, cable operators will confront several architectural and technological crossroads, including how they migrate to a DAA and the many other alternatives given by the future evolution of their HFC networks. On the economic side of their operations, a more pressing transformation is underway: the progressive replacement of television services with high-speed broadband as the cable industry’s principal income generator. Optical solutions are thus necessary, and these operators are expected to profit from them. For instance, in February 2022, China Mobile and Huawei agreed to develop an optical network connecting Guangdong, Hong Kong, and Macao. “The world’s largest green all-optical switching hub network,” according to Huawei. Huawei and China Mobile Guangdong have collaborated on an all-optical network cluster for the Greater Bay Area in recent years.

The optical transport network’s market expansion could be hindered by the high cost of maintenance associated with it.

Although the market for optical transport networks is expected to increase significantly during the projected period, the initial deployment costs are higher. As a result, the communications market’s small businesses avoid embracing such products and solutions. The market’s high initial cost may prevent it from reaching its full potential. Aside from that, there are unpredictable traffic patterns and high bandwidth requirements. These factors stifle the market for optical transport networks (OTNs). Other concerns include the widespread use of the internet by misguided individuals. Data theft, hacking, internet scamming, and data disfiguration are all on the rise.

During the projected period, the DWDM segment is expected to grow rapidly in the optical transport network market.

By Technology, the optical transport network market can be segmented into Converged Packet Optical Transport System, DWDM, and WDM. The fiber-optic transmission technology DWDM stands for Dense Wavelength Division Multiplexing. The procedure entails multiplexing numerous wavelength signals onto a single fiber. As a result, each fiber contains a series of parallel optical channels, each of which uses slightly different light wavelengths. DWDM has a higher transmission performance than WDM. DWDM can simultaneously transport data at speeds ranging from 2.5 to 10 Gbps over 160 channels. Furthermore, DWDM has channel spacing of 25 to 50 GHz and can sustain transmission rates of more than 1 Tbps. As a result, the DWDM segment of the optical transport network market is expected to offer a plethora of attractive business prospects to industry participants.

During the forecast period, the optical transport network market in the Asia Pacific is predicted to have a dominating share.

The optical transport network market is classified into five regions based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The Asia Pacific market is expected to account for the largest revenue share in the global automated power factor controller market over the projected period. Plant and machinery digitalization is progressively gaining traction in Southeast Asian countries. This has accelerated data traffic in several countries. Nokia was chosen by Allo, a Malaysian information and communications technology service provider, to implement a gigabit fiber network in the states of Melaka, Johor, Negeri Sembilan, and the East Coast of Malaysia in May 2021, in line with Malaysia’s The Jalinan Digital Negara Plan, part of the 12th Malaysia Plan (2021-2025), to provide elevated broadband to two million homes and drive the digital economy. Furthermore, TPG Telecom, an Australian operator, became the first network operator in the Asia-Pacific area to implement a modular 4G/5G Smart Node solution from a top communications technology provider in October 2021. In addition, developing countries like India and Pakistan are investing in contemporary infrastructure to support the digital economy and technological breakthroughs. Pakistan’s state-owned PTCL (Pakistan Telecommunications Company Limited) cooperated with Huawei in June 2021 to modernize its IP Edge and Optical Transport Network (OTN) infrastructure.

Covid-19 Insights                                            

The impact of COVID-19 on the optical transport network business has been significantly positive. The pandemic has raised the demand for digital communication, and faster bandwidth is now more important than ever. During the lockdowns and physical restrictions, the adoption of remote work culture, distance learning, cloud technologies, and social media has only increased. The telecommunications industry is under more strain than ever before. As a result of innovations and significant R&D investment, the OTN market has grown significantly during these difficult times.

Global Optical Transport Network Market Scope:

Report Metric Details
Market Size Value in 2021 US$28.193 billion
Market Size Value in 2028 US$90.538 billion
Growth Rate CAGR of 18.14% from 2021 to 2028
Base Year 2021
Forecast Period 2023 – 2028
Forecast Unit (Value) USD Billion
Segments Covered Technology, End User, and Geography
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered Fujitsu Network Communications Inc, ADVA Optical Networking, Infinera Corporation, ECI TELECOM, NEC Corporation, ZTE Corporation, Huawei Technologies Co., Ltd., Padtec, Ciena Corporation, Avencom
Customization Scope Free report customization with purchase

The cosmetic antioxidants market is evaluated at US$108.146 million for the year 2020, growing at a CAGR of 5.67% to reach a market size of US$159.101 million by the year 2027.

Antioxidants are natural substances made up of vitamins and minerals that play a key part in anti-aging skincare. Free radicals are created by street air, sunlight, automobile pollution, and other environmental elements, and antioxidants neutralize them. They are utilized in the cosmetic industry to prevent aging by avoiding cell damage. Antioxidants in cosmetics form a protective barrier on the skin, shielding it from the elements and ultraviolet infrared rays. It’s also used in cosmetics to keep formulas fresh and extend their shelf life. Antioxidants including hydroxytoluene, butylated hydroxyanisole, Vitamin A, and Vitamin E are commonly utilized in anti-aging, UV protection, and anti-inflammatory goods such as moisturizers, hair care, skincare, and other cosmetics. Vitamin C acts as an antioxidant, protecting the skin from free radical damage induced by UV exposure. Cosmetic agents protect the skin while also preventing the degradation of natural constituents in cosmetics such as proteins, carbohydrates, and lipids.

Key drivers driving the market growth

The large spending on cosmetics and personal care items in emerging nations stimulates worldwide demand. The growth is linked to variables such as increased income levels as a result of rising employment levels, minimum salaries, and urbanization. Furthermore, market growth is likely to be fueled by continuous growth in organized retail, as well as the emergence of a young urban population paired with increased disposable income in emerging nations. Antioxidants in cosmetics are becoming increasingly popular among athletes seeking protection from dangerous UV rays. These products are applied to the skin because they provide a protective barrier while also addressing a variety of skin concerns. The entertainment sector is also seeing an increase in demand for skin protection against hazardous air pollutants that cause premature aging, pigmentation, wrinkles, and acne.

Vitamins are anticipated to account for the largest type of cosmetic antioxidants

Vitamins C and E, as well as selenium, have been shown to protect the skin from UV damage and skin cancer studies. They may even be able to reverse some of the discoloration and wrinkles that come with age. Vitamins are found in a variety of cosmetics. Their beneficial effect on human skin is a primary motivator. The second-largest type section was enzymes, which were followed by polyphenols and carotenoids.

During the projected period, skin care is expected to be the most popular application of cosmetic antioxidants

The rising demand for cosmetic products with anti-aging, anti-wrinkle, UV protection, and moisturizing qualities is driving the expansion of the skincare application segment of the cosmetic antioxidants market. People all around the world are experiencing skin problems as a result of increased air pollution, which is moving the skincare industry forward. Sun cream is a well-known antioxidant skincare item that helps to protect the skin from UV rays. Because it is utilized by people of all ages, this product has a large global market.

Male cosmetics are becoming increasingly popular

As many guys use cosmetics, the worldwide male cosmetic market is rising. The increase in male cosmetics sales can be related to consumers’ changing lifestyles and increased disposable cash. Men’s skin concerns include wrinkles, dark patches, and dullness. As a result, males use skin care products such as anti-aging, hydrating, and sun protection lotions. Aesthetics has grown increasingly fashionable among men. Currently, only a small percentage of males use cosmetics, but this is projected to change soon.

Natural antioxidants are more expensive, and there are rising worries about artificially manufactured goods, which may function as market restraints.

The global cosmetic antioxidants industry is being held back by many problems, including the economic crisis, high costs of quality chemicals, tight government restrictions, and expensive packaging costs. Male clients’ increasing desire for skin care products is likely to provide potential opportunities for cosmetic antioxidants market players. With increased awareness, even men have begun to pay attention to their appearance, skin, hair, and other elements, creating opportunities for cosmetic industry companies to meet client demand.

Regional Analysis

The market is being propelled by rising demand for cosmetics in the Asia Pacific area, as well as an aging population and the introduction of a modern lifestyle. The increased demand for cosmetics as a result of the rising aging population, greater disposable income, and changing lifestyle of people in the region is driving the growth of the APAC cosmetic antioxidants market. The rising popularity of high-quality cosmetics that combat the impacts of pollution and climate change on skin and hair is driving up demand for antioxidants, which is boosting the cosmetic antioxidants market. Cosmetic antioxidants are well-established markets in North America and Europe.

Covid Insights

Given the lockout as well as the drop in customer demand, COVID-19 has had a crippling effect on the cosmetics industry. Consumer purchasing habits have changed as a result of the epidemic, as people are locked at home and no longer invest in hair care or makeup. As a result, the majority of cosmetics manufacturers are focusing on employing durable ingredients, and the majority of new product developments are now centered on organic and natural sources. When it comes to customer purchasing habits, there has been a significant movement from offline to online channels. Consumers are hesitant to visit stores or spas in the post-COVID-19 age, therefore they prefer to shop online. Recognizing the possibility, several businesses are incorporating internet services into their in-store offerings.

Cosmetic Antioxidants Market Scope:

Report Metric Details
 Market size value in 2020  US$108.146 million
 Market size value in 2027  US$159.101 million
 Growth Rate  CAGR of 5.67% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments covered  Function, Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered BASF SE, Koninklijke DSM NV., Wacker Chemie AG, Eastman Chemical Company, Lonza Group, Croda International Plc, Ashland Global Holdings, Evonik Industries AG, Kemin Industries, Inc., Barentz International BV, L’Oreal
 Customization scope  Free report customization with purchase

The cloud kitchen market size was valued at US$38.926 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 12.52% over the predictive period to reach US$88.889 billion by 2027.

Cloud kitchens (also known as ghost kitchens) are a modern food preparation facility that only provides food for delivery. Some cloud kitchens also provide takeaway and drive-thru options. Most cloud kitchens do not have a storefront or a physical restaurant space. They only contain a kitchen or cooking facility, sometimes for more than one restaurant.

Types of Ghost Kitchens

Standalone Cloud Kitchen: – This is the most basic and widely used form of cloud kitchen. These kitchens are generally operated under a single restaurant brand and have a limited preparation space. Some of these eateries may have formerly operated as full-fledged restaurants, but have since reduced expenses and expanded their reach by focusing only on delivery and takeout.

Multi-brand Cloud Kitchen: – A multi-brand cloud kitchen contains one large kitchen space, where several restaurant brands work, owned by one parent company. A multi-brand cloud kitchen allows companies to reduce production costs by providing a shared floor space and also helps in achieving efficient managing techniques.

Outsourced Cloud Kitchen: – These kinds of kitchens partially prepare large amounts of food, which is then sent to a satellite kitchen, where the food is cooked one final time, before delivering it to the public. Outsourced cloud kitchens provide an opportunity for cloud kitchens to facilitate faster delivery and efficient cooking methods.

Co-Working Cloud Kitchen: –These kinds of cloud kitchens contain individual kitchen units for multiple restaurant brands under one kitchen space. The kitchen units are usually rented out to multiple restaurant brands, allowing kitchens to operate efficiently without having to purchase the whole space area.  

Requirements for a Cloud Kitchen

Location and License: – Since cloud kitchens do not facilitate physical restaurants, they do not require a high-end location. However, strategic selection of the location is necessary for prompt delivery and service. For instance, setting up a cloud kitchen near a place that is visited by a lot of young individuals, like universities, would be beneficial for cloud kitchens to ensure faster delivery and better service. Since most cloud kitchens do not require a lot of facilities, they can be set up in places like empty parking lots, residential areas, or even in food trucks.

Most cloud kitchens do not require any complex licensing or paperwork. However, since consumers are not able to visit the establishment themselves, the production of certifications or awards would help in inspiring confidence among the people.

Kitchen Equipment and Staff: – The equipment required to set up a cloud kitchen would be similar to that of setting up a restaurant, except for dining sets and cutlery. They would require cooking utensils and facilities for storing and heating. Additionally, cloud kitchens would also require disposable packaging equipment such as plates, cutlery, and cups.

A cloud kitchen could start operating with very limited employees. The only personnel initially required to start a cloud kitchen would be cooks, delivery personnel, and cleaning staff. Any other personnel required could be adjusted as the business starts making profits. Additionally, a cloud kitchen could also employ someone to receive orders and look after the ordering system.

POS or Online Ordering System: – A cloud kitchen would require a POS system or any other similar system, to register and allot food orders, and review receipts accordingly. A cloud kitchen would also require someone to receive orders and look after the online ordering system.

Food Delivery System: – The main aspect of a cloud kitchen is to provide food delivery services that are fast. For this, a cloud kitchen would require dedicated food delivery personnel to take food orders and deliver them on time. Some online food delivery applications, like Uber Eats, however, provide delivery options for the kitchens, through which they employ other third-party personnel to deliver the food for them. However, such services charge a small fee from the restaurants for this.

For facilities that allow customers the facility to drive-thru or takeaway, they would also require dedicated staff to hand out food to the people.

Covid-19 Insight

The hospitality sector was worse hit by the COVID-19 pandemic. However, the pandemic had a positive effect on the cloud kitchen market and emerged as a popular trend. With an increase in the spread of the virus, the pandemic created a demand for minimal contact food delivery, leaving traditional dine-in restaurants behind. According to Barclaycard UK, the takeaway sector recorded an increase in expenditure of 11.4%, due to the pandemic. This led to an expansion of the cloud kitchen market and is expected to see further growth in the future.

Cloud Kitchen Market Scope:

Report Metric Details
 Market Size Value in 2020  US$38.926 billion
 Market Size Value in 2027  US$88.889 billion
 Growth Rate  CAGR of 12.52% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Business Model, Order Source, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  KLC Virtual Restaurants, The Food Corridor (Fort Collins, CO), Kitopi, CloudKitchen,   Muy, Mimic, Franklin Junction, Zullu, Virturant, Keatz, Travis Kalanick, Karma Kitchen,   Deliveroo
 Customization scope  Free report customization with purchase

The optical position sensor market is expected to grow at a compound annual growth rate of 9.9% to reach a market size worth US$1,885.923 million by 2029. This market was valued at US$973.651 million in 2022.

An optical position sensor is a device that calculates the distance traveled by a body from its reference point. The fundamental goal of an optical sensor is to calculate the physical amount of light, depending upon the nature of the sensor. Optical sensors are being used to track, count, or position pieces without using any physical contact. These sensors are used in a wide range of industrial & commercial applications, ranging from low-cost automobiles and consumer electronics to elevated military and defense systems.

Analysts anticipate that the market will grow due to the growing demand for plant automation in process industries during the forecast period.

The majority of industrial businesses and units operating across various global areas are growing a pressing demand for automation, which is emerging as one of the primary factors driving the global optical position sensor market expansion. One of the major reasons driving market expansion in the worldwide optical position sensor market is the rising demand for car safety. These sensors are used to determine the location of an automobile and give parking assistance. In the case of a collision, these sensors are also used to assess the driver’s position and activate the airbags accordingly. The growing use of optical sensors in medical and industrial automation applications is also propelling the marketplace for optical position sensors.

Furthermore, the market will be driven by ongoing technological innovation, which will result in the introduction of compact, more effective chipsets & modules with greater functionality. According to the International Federation of Robotics (IFR), over 374 thousand industrial robots were supplied around the world in 2017. Furthermore, international investments in the high-revenue vehicle business have increased dramatically in recent years. As a result, companies from all over the world are concentrating their efforts on improving their production infrastructure by introducing completely automated machine tools, culminating in a boom in demand for optical position sensors. Consumer tastes are shifting away from touch to non-contact position sensing, allowing major businesses to offer novel contactless sensors. Honeywell International, for example, offers a wide selection of SMART position sensors for non-contact angular position detection. Moreover, prominent businesses in the worldwide optical position sensors market are integrating & developing new products that will fuel the industry’s growth. Mobile TeleSystems PJSC and Vodafone Group PLC, for example, announced a strategic partnership in January 2021 that entails a series of joint projects aimed at identifying new opportunities to improve MTS’s company’s operations, and boost newer technologies, & enhance strategic execution across the consumer and enterprise segments. STMicroelectronics and Politecnico di Milano also signed a five-year collaboration agreement in June 2021. The deal calls for the establishment of a joint research center on innovative materials for sensors, leveraging ST and Politecnico’s long-standing collaboration.

The need for the highest accuracy level can act as a constraint on market growth at a global level.

Attaining and maintaining a high level of accuracy while providing support, as well as other factors such as rising variations in international regulations and risks associated with mechanical failures while operating, are preventing the market from expanding among end-users, and are likely to continue during the forecast period. Furthermore, the lack of product differentiation, as well as the availability of product replacements, will be the market’s biggest and most pressing obstacle.

The two-dimensional segment is anticipated to witness a significant market share during the forecast period.

Optical position sensors are sensors that transform light waves into an electrical signal to transmit the position of an item. Either the light emitted out of an emitter and then sent to a receiver on the other end, or the emitted light signal is retransmitted from the observed item. From the reflection of a light beam, a two-dimensional sensor offers both location data and object size. The global two-dimensional optical position sensor market is being driven by factors such as the increased need for car safety, expanding consumer electronics demand, increasing acceptance of wearable devices, and the need for high-performance sensors to monitor applications.

The automotive industry is anticipated to witness a significant market growth during the forecast period.

The optical position sensors market is being driven by the growing demand for optical position sensors in the automotive industry. Optical position sensors are utilized in automobiles to increase safety and protection. Optical position sensors are becoming more widely used in the vehicle industry due to their effectiveness in preventing accidents and determining automobile positions. In the approaching years, the growing safety concern and awareness of consumers about automotive safety are likely to drive the rising market for optical position sensors. In addition, the global aerospace sector necessitates highly sophisticated products with a significant proportion of electrical components & strict safety standards. As a result, sophisticated development & production processes are in high demand. This type of manufacturing technique necessitates contactless sensing technology, which has gained attention in aerospace applications.

According to regional analysis, the Optical position sensor market in the Asia Pacific is expected to hold a significant share during the projected period.

The Asia Pacific position sensor market expanded at a significant CAGR as a lucrative industry for consumer technology devices such as smartphones & desktops, as well as a developing regional market for industrial manufacturing. Substantial demand for high-quality sophisticated equipment and sensors is projected in Asia as manufacturing activities are outsourced to low-cost developing countries. Over the projection period, robust manufacturing expansion and a huge potential for modern industrial machinery in the Chinese market are likely to enhance regional growth.

COVID-19 Insights

The worldwide optical position sensor industry has been negatively impacted by the recent breakout of the COVID-19 pandemic. The pandemic’s severe influence on the global vehicle industry led to a fall in the market. Lockdowns & isolations enforced by global governments led to the closure of optical position sensor manufacturing factories and industries, resulting in the market’s demise. During the COVID period, demand for optical position sensors was reduced due to the shutdown of the automation and automobile industries. Due to trade and travel restrictions, the supply chain and production activities were hampered, resulting in a market drop during the epidemic.

The global aprotic solvents market was worth $14.265 billion in 2020 and is projected to expand at a 3.47% CAGR over the predicted period to reach $18.112 billion by 2027.

Aprotic solvents have no hydrogen atoms connected directly to an electronegative and are not competent in hydrogen bonding. Aprotic solvents are those that cannot contribute a suitable hydrogen atom and do not contain acidic hydrogen. Aprotic solvents have a low skin penetration, greater dipole moment, high polarity, and a high dielectric constant and are incompatible with strong bases such as n-butyllithium.

Unlock Insights into the Aprotic Solvents Market

This overview provides a snapshot of the market. Dive into our comprehensive report for detailed data, competitive analysis, and strategic insights to stay ahead in the global aprotic solvents industry.

  • ✅ Market Size & Growth Projections
  • ✅ Key Player Profiles & Market Share
  • ✅ Application Insights & Regional Trends

The End-User Are Driving Force for the Aprotic Solvent Market Globally

The aprotic solvents industry is increasing rapidly due to rising demand for aprotic solvents in multiple end-user industries such as advanced recycling technology, pharmaceutical, and oil & gas, and rising demand for eco-friendly alternatives.

Unique Properties of Aprotic Solvent

Furthermore, innovative properties such as low reactivity, high permittivity, thermal properties, and the use of aprotic solvents in gas production and oil refining are among the factors that influence the aprotic solvents market expected to register. Aprotic solvents exhibit similarities such as hydrogen bond acceptance, the absence of acidic hydrogen, the ability to stabilize ions, and the ability to dissolve salts. These solvents can be used at high temperatures with acid and reagents such as thionyl chloride and phosphorous. Furthermore, the high polarisation of aprotic solvents allows them to dissolve ionic particles such as various anions used as nucleophiles, making them more reactive.

No Hydrogen Bonding Nature

Protic implies “proton,” and aprotic indicates “no proton.” Aprotic solvents are those that lack a hydrogen atom or bond. Aprotic solvents have extremely high dipole moments and dielectric constants. They do not, however, take part in h – bonding. Because of their increasing polarity, they can dissolve charged species such as anions and nucleophiles. These solvents are more reactive as the outcome of their increased polarity and charge dissolve. Aprotic solvents dissolve materials better than protic solvents because they are more responsive. Because of the increased demand for petroleum products worldwide, the oil and gas sector is expected to be the largest end-user of aprotic solvents. Furthermore, with the rapid expansion of the agriculture and construction sectors, the popularity of coatings, paints, and agrochemicals is significant. Aprotic solvents are being used to create agrochemicals and paints.

Types of Aprotic Solvent

Benzene: Benzene is a colorless liquid with a characteristic sweet odour that is clear and colorless. It has the molecular formula C6H6 and is a sweet-smelling organic compound. Benzene is found in abundance in nature. There is no need to synthesize it because it is naturally present in gas emissions from the forest or volcanic fires and cigarette smoke, crude oil, and gasoline. Benzene is used in various commercial, industrial, and research applications as a solvent. Producers use benzene-containing products as solvents at different processing stages and are used to manufacture plastic and chemical products. Benzene is also used to make asphalt, which paving and roofing companies use.

N-Methyl-2-Pyrrolidone(NMP): The colorless transparent liquid oil with a small amino center is an NMP solvent, an organic compound. Good thermal and chemical stability, Low volatility, water vapor volatility, and Light sensitivity. Most natural compounds, inorganic and organic compounds, polar gases, and synthetic polymers are soluble in water, summer, acetate, ethanol, etiquele acetate, chlorophyll, and benzene. N-methyl pyrrolidone is widely used in solvents in the cleaning agents, insulation materials, remedies, pesticides, pigment, and other sectors.

Acetone: Acetone is an organic compound that is highly combustible. C3H6O is the formula for this organic compound solvent. Propanone is another name for it. It can be observed in plants, trees, vehicle exhaust, and wildfires. This is also found in the human body, most notably in blood or urine. It is colorless and flammable. It has a foul-smelling, floral, or irritating odor and is dissolvable in water, ethanol, and ether. It’s a popular solvent and antiseptic. Acetone is typically made by propylene, either directly or indirectly.

The Application of Toluene in a Wide Range of Products Is Expected to Drive the Growth of the Aprotic Solvent Market

Toluene is also renowned as methylbenzene; Toluene is a colorless and clear liquid with a unique sweet odour broadly used as a solvent in industrial applications. Toluene is made from the tolu tree and crude oil. It is also produced during the production of gasoline and other fuels from crude oil and during the production of coke, a type of coal-derived fuel used to manufacture steel. Toluene is commonly used in the manufacture of rubber, lacquers, glues, paints, and adhesives due to its ability to help dissolve, dry, and thin other substances. It is used to synthesize other chemical compounds such as nylon, plastics, polyurethane, benzene, benzoic acid, benzoyl chloride, trinitrotoluene (TNT), benzoic acid, benzoyl chloride, and toluene diisocyanate.

Discover the Paints and Coatings Market

Aprotic solvents like toluene are vital in paints and coatings. Explore our in-depth report on the Global Paints and Coatings Market for trends, forecasts, and competitive insights.

The Asia Pacific Region Is Anticipated to Boost the Growth of the Aprotic Solvent Market

The Asia Pacific is expected to dominate the aprotic solvents market. This growth is likely to continue throughout the forecast period. This can be attributed to rising demand in India and China for pharmaceuticals, oil and gas, and adhesives. Expansion in investments in Asia Pacific emerging markets such as Indonesia and Vietnam is expected to drive the market in the region over the projected period.

The Aprotic Solvent Is Being Imported Into South America and Mea Region

The market for aprotic solvents in South America, the Middle East, and Africa is expected to widen soon. Aprotic solvents are imported into Brazil, Mexico, and South Africa because manufacturing firms are scarce in these countries. According to OEC, Acetone import in 2020 in Brazil was US$24.2 billion, and Mexico was US$58.9 billion, which represents that these countries are driving the market by their imports of the aprotic solvent. Increased government spending on projects and national infrastructure is expected to propel the market for aprotic solvents in these regions over the next few years.

Global Aprotic Solvents Market Scope:

Report Metric Details
Market size value in 2020 US$14.265 billion
Market size value in 2027 US$18.112 billion
Growth Rate CAGR of 3.47% from 2020 to 2027
Base year 2020
Forecast period 2022–2027
Forecast Unit (Value) USD Billion
Segments covered Type, Application, And Geography
Regions covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered Eastman Chemical Company, BASF SE, DuPont de Nemours, Inc., Arkema, INEOS, Ashland, Mitsui Chemicals, The Dow Chemical Company, Mitsubishi Chemical, AlzChem Group AG
Customization scope Free report customization with purchase

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The supercapacitor market is projected to grow at a CAGR of 20.69% during the forecast period to reach US$3,010.052 million by 2027, from US$807.096 million in 2020. 

The rising demand for consumer electronic applications gave birth to battery technologies which are used to power these consumer electronics. However, the drawbacks of using batteries such as small lifecycle, less power density, higher charging time, and heating issues among others are creating a space for alternatives such as supercapacitors. A supercapacitor is a special capacitor that consists of the properties of batteries and capacitors in one single device. A supercapacitor, which is also known as a double-layered capacitor, or ultracapacitor is an electronic device that possesses a large capacitance and lower voltage ranges. Furthermore, the technology of supercapacitors has developed over the years, hence they exhibit the potential to provide advances in energy storage systems. Moreover, these special energy storage devices are capable of bridging the gap between traditional capacitors and batteries. These devices take lesser time for charging as compared to the conventional battery or capacitor. Also, they are comparatively lightweight and environmentally friendly. Due to such qualities, they are found in diverse applications as an autonomous energy source or combination with other energy storage devices. Lastly, the supercapacitor market is segmented by type, capacitance, industry vertical, and geography.

The key factors propelling the demand for supercapacitors are the growing number of renewable projects, rising environmental sustainability, and the increase in electric automobile production.

The rising climate issues are the driving forces behind the rising efforts toward renewable projects. As the world is shifting its focus towards renewable and clean energy, a significant increase in renewable energy power plant infrastructure can be witnessed across the globe.  Furthermore, the rising awareness about environmental sustainability coupled with numerous government initiatives, organizations, and businesses across the globe has resulted in an increased number of renewable projects. For instance, in October 2022, the Australian Renewable Energy Agency (ARENA) announced US$9.1 million in funding to Shell Energy Australia to implement Smart Energy Hubs throughout Queensland, New South Wales, and Victoria across 40 commercial and industrial customer sites. Additionally, the US Department of Energy launched total funding of US$2.5 billion to modernize and expand the capacity of America’s Power Grid in May 2022. This extensive funding from the US government will be utilized in the construction of new and upgraded high-capacity transmission lines. Grid operators now have a successful plan to address issues about frequency, voltage, and power quality thanks to high power energy storage capability and quick reaction. As a result, the expansion of renewable energy projects in numerous different developing and developed nations is anticipated to fuel market expansion.

In addition, the innovations for energy-efficient, and environment-friendly alternatives such as electronic vehicles are further fueling the demand for supercapacitors in the automotive industry. The higher demand for supercapacitors in the automotive industry can be attributed to the necessity of higher power storage in electronic vehicles. Furthermore, advantages such as a longer lifecycle, higher power density, and fast charging functions act as additional factors propelling the supercapacitor market during the forecast period. Moreover, the demand for electronic vehicles is also surging day by day. For instance, as per the International Energy Agency’s Global Electric Vehicles report 2022 the sale of electric vehicles doubled in 2021 from the previous year to a new record of 6.6 million. The report mentions that in global car sales, electric car sales accounted for nearly 10% in 2021. Furthermore, public spending and incentives for electronic vehicles doubled to nearly US$30 billion in the same year. The positive growth statistics are indicating a positive outlook for the EV segment which will consequently support the growth of the supercapacitor market during the forecast period.

The double-layer supercapacitors are expected to hold a notable share of the supercapacitor market during the forecast period.

Based on type, the Supercapacitor market is segmented into Pseudocapacitors, Hybrid Capacitors, and Double layer supercapacitors. The double-layer supercapacitor segment is expected to hold a significant share of the supercapacitor market during the anticipated period. These supercapacitors possess high energy density, which is comparatively higher than ordinary electrolytic capacitors. Further, the characteristics such as long service life, energy saving, short charging time, and environmentally safe alternatives are substantially supporting the growth of the double-layer supercapacitors in the market. Furthermore, they perform incredibly well in any application where a constant supply of energy is needed for a brief period. In consumer electronics applications such as smart wearables, desktops, laptops, and foldable phones, double-layer capacitors have taken the place of conventional batteries. Thus, these benefits and diverse use in different industries is supporting the positive growth of double-layered supercapacitors under this segment.

According to analysts, the Asia-Pacific region is reported to have the largest share of the Supercapacitor market during the anticipated period.

Based on Geography, the Supercapacitor market is divided into North America, South America, Europe, and the Asia Pacific. Analysts anticipate that the Asia-Pacific region will have the largest market share owing to the rapid developments in the consumer electronics and automotive industries in this region. Furthermore, the countries like China and India are known as manufacturing hubs due to their highly industrialized approach and growing industrial development. In China, the growth of the supercapacitor market can be attributed to their expanding electric vehicle market. For instance, as per the IEA’s Global Electric vehicles outlook 2022 report, the People’s Republic of China (PRC) was responsible for the increase in EV sales in 2021. China accounted for half of the EV market’s growth. Moreover, the first quarter of 2022 reflected similar trends with sales in China more than doubling compared with the first quarter of 2021. Additionally, 90% of new electric bus and truck registrations and 95% of new electric two- and three-wheeler registrations worldwide come from China. The Indian EV market also witnessed positive sales growth in 2021. Henceforth, it is expected that the trend of growing the electric vehicles market will continue in the forthcoming years which will further propel the growth of the supercapacitor market during the forecast period. 

Supercapacitor Market Scope:

Report Metric Details
 Market size value in 2020 US$807.096 million
 Market size value in 2027 US$3,010.052 million
 Growth Rate CAGR of 20.69% from 2020 to 2027
 Base year 2020
 Forecast period 2022–2027
 Forecast Unit (Value) USD Million
 Segments covered Type, Capacitance, Industry Vertical, And Geography
 Regions covered North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Tokin Corporation, Skeleton Technologies, Maxwell Technologies, Inc. (acquired by Tesla, Inc.), Nippon Chemi-Con Corporation, Panasonic Corporation, Eaton, CAP-XX, IOXUS Inc., LS Mtron, NAWATechnologies
 Customization scope Free report customization with purchase

The Electricity Transmission Poles Market is expected to grow at a compound annual growth rate of 6.92 % over the forecasted period to reach a market size of US$9.695 billion in 2027 from the US$6.070 billion in 2020.

Electricity transmission poles, also known as power poles, help in the transfer of electricity from power companies to the end-users by the use of wires and electric cables. Materials used in the production of an electricity transmission pole include elements like steel, wood and composites. The choice of material depends on it’s the purpose for use, which further determines the life span of these poles. Electricity transmission poles help in the support and carriage of electrical lines, which includes distribution lines, as well as sub-transmission lines. Factors like rising electricity consumption worldwide, advancements in the global energy sector and the increasing number of factories across various countries have contributed to the increase in the demand of these poles and subsequently leading to the overall growth of the market.

Increasing Energy Consumption to Augment Growth of the Market

The inclining electricity consumption across the globe is considered to be a key factor leading to the growth of the electricity transmission pole market. According to the IEA (International Energy Agency), the global electricity final consumption in 2018 was 4% higher than the year before and went up to reach a figure of 22,315 TWh. In this global mix, the total electricity final consumption of the OECD (Organization for Economic Co-Operation and Development) countries was about 9,728 TWh while that of the non-OECD countries, amounted to a figure of 12,587 TWh. Countries like India, China, Brazil, and Russia were four of the largest countries of the non-OECD in regards with the electricity consumption in that period. China, which accounted for the lion’s share, held a share of about 47.8% of the total electricity consumption by the non-OECD countries. Also, electricity consumption in these non-OECD countries is mainly dominated by industrial demand which accounts for about 50% of the final electricity consumption there. Majority of the inclining electricity consumption in the OECD countries has taken place in the commercial, residential and the public services sectors since the past five decades. The growing number of factories in various industries and the increasing development of urban infrastructure in the developing economies has given a boost to the construction of not only residential but also commercial buildings which in turn has increased the demand for electricity consumption and thus led towards substantial growth in the market. The industrial sector was observed to be the largest end-use sector for electricity consumption back in 2018. However, in more recent times, the share of electricity consumption of the industrial sector is only marginally greater than the shares of the residential, as well as commercial sectors.

Cement Electricity Transmission Poles to Show Promising Growth During the Forecasted Period

In terms of segmentation by material, the electricity transmission poles market can be divided into wood, cement, and steel. The wood electricity transmission poles segment accounted for the majority of the market share back in 2020 as wood is considered to be the pioneering material for making these poles with an estimated figure of 130 million wood poles in the region of North America, as reported by the  Woodpoles organization. However, the cement segment of the market is predicted to show a promising growth during the forecast period. The application of these cement poles as overhead electrical transmission lines has been on an incline due to their properties such as greater strength, longer life and also, the potency to span a longer distance when compared to steel poles. Further, sement electricity transmission poles are also shown to have relatively low maintenance costs along with a high electrical resistance. Due to all these reasons the cement poles have observed an increase in their demand and hence, the cement segment is predicted to witness significant growth during the analysed period.

North America to Hold a Significant Share in the Electricity Transmission Pole Market

In terms of geography, the electricity transmission pole market has been segmented into five major regions, Europe, North America, South America, Asia Pacific and Middle East and Africa. In 2020, the Electricity Transmission Poles market in the North American region held a significant share of the global electricity transmission poles market. The growth of the electricity transmission pole market in this region is driven by the rising electricity consumption in countries like the Canada and the United States. Adding to that, the electricity sector in these countries has observed major investments in new infrastructural projects for electricity distribution and transmission as the pre-existing infrastructure there is turning obsolete and needs to be updated and refurbished. The electric power transmission and distribution in the US has been in a critical need of expansion and upgradation as rising loads and a dated equipment and infrastructure are exerting pressure on more investments. Further, the increasing focus on green energy solutions in the regions of North America and Europe will catalyse the growing demand for new electricity transmission poles in the analysed period, hence, augmenting the growth of their regional markets. Favourable government schemes and regulations in order to promote greener technologies and fresh energy sources have shown to boost the demand for the infrastructure of advanced distribution and transmission, which consequently is expected to drive the overall growth of the electricity transmission poles market. For instance, the Economic Action Plan of Canada has included the Clean Energy Fund. This is a five-year program, with investment worth $795 million in order to support research and development clean energy technology.

Global Electricity Transmission Poles Market Scope:

Report Metric Details
Market size value in 2020 US$6.070 billion
Market size value in 2027 US$9.695 billion
Growth Rate CAGR of 6.92% from 2020 to 2027
Base year 2020
Forecast period 2022–2027
Forecast Unit (Value) USD Billion
Segments covered Material, Area, And Geography
Regions covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered Koppers Inc., KEC International Ltd., Skipper Limited, Europoles GmbH & Co. KG, Nippon Concrete Industries Co., Ltd., Weatherspoon & Williams LLC, Valmont Industries, Inc., Nello Corporation, Nova Pole International Inc., Finntrepo Ltd, PPL Corporation, OTDS UK Ltd., Eiforsa
Customization scope Free report customization with purchase

In 2020, the Powdered Surgical Glove Market was projected to be valued at US$189.796 million.

Powdered Surgical gloves contain cornstarch, making them easier to put on, particularly in healthcare, and can keep gloves from sticking together. Powdered surgical gloves can glom to the user’s skin and cause hypersensitivity or allergies if worn for an extended period. Latex allergies or sensitivity may also be exacerbated by cornstarch powder. Powdered Surgical gloves are single-use gloves that should be discarded after only one use, particularly when dealing with bacterial cultures or worn during surgical operations. These gloves are made from various polymers, including rubber, vinyl, latex, and neoprene. They are powdered with cornstarch to soften them and make them easier to put on. Previously, skin irritants Lycopodium powder and talc were used instead of cornstarch. Powdered Surgical gloves are personal protection equipment (PPE) used to safeguard health care professionals in operating rooms (ORs). The principal goal of these gloves is to act as a protective shield for medical professionals and nurses throughout surgical procedures, preventing the transmission of pathogens between health care providers and patients. They are typically made to a stricter standard, with more precise sizing, accuracy, and sensitivity. These gloves serve various functions, ranging from dental to surgical applications. Because of their slimness and tight fit, which allows agility. The Beneficial properties of these gloves is anticipated to push the market growth over the forecasted period.

Types Of Powdered Gloves

Latex Powdered Gloves-Powdered latex gloves have been around since the beginning of the glove marketplace and have undergone immense growth to become the standard premium 5-gram gloves available nowadays. This progression has not been easy. Latex gloves have long been regarded as the gold standard in biological protection. They protect against bacteria and viruses. A latex glove is an extracted plant product derived from natural rubber latex. Latex gloves are the most versatile and robust, and they fit the best. They provide excellent infection and protective contamination measures. These gloves are most suitable for examination purposes for diagnosis operations.

Vinyl Powdered Gloves- Vinyl Powdered gloves are ideal for people who are allergic to latex. Vinyl gloves are suitable for the food and medical industry sectors because they are highly resistant to rips and tears. These are formed by high-quality material, so they have a high density and are excellent in elasticity. Improved thickness and shape make them comfortable to wear and durable. They do not leave any allergic reaction to hand.

Moreover, they are oil and water-resistant. Vinyl Powdered gloves are not easy to tear off; they have strong weft and wrap tension. Vinyl is a synthesized plastic made from Poly Vinyl Chloride. Vinyl gloves are made to provide tactile acuity while providing adequate protection, depending on the process. Vinyl gloves are frequently used in organizational or industrial settings, and they are ideal for inspection, scientific research, food service, food processing, assembly, and maintenance. 

Healthcare Sector is expected to Burgeon the Market for the Powdered Surgical Gloves Globally

There are several types of treatment present nowadays, and there is numerous procedure for a small media condition also. Aesthetic and Plastic surgery account for a major share amount of US$10,135,563,781 as per the Aesthetic Society data. They are a lot more implants and plastic surgeries held around the globe every then and now, which is expected to boom the demand for the powdered surgical gloves as well as it is one of the foremost requirements while doing the procedure. IN 2021, the Aesthetic Society said the Surgical procedure held in different types of plastic surgery is liposuction 491,098, Breast Augmentation 364,753, Tummy Tuck 242,939, Breast Lift 167,395, Eyelid 149,668, Breast Implants 147,684. The growing demand for plastic and aesthetic improvement surgeries is expected to boost the powdered surgical glove market globally for ease of use.

Out of all the available aesthetic surgeries tummy tuck is high in demand it share 16% overall revenue generation from plastic surgeries. After which comes breast augmentation and Liposuction with 15% and 13% respectively.

Approximately 310 million major operations are done worldwide; approximately 40 to 50 million in the United States and 20 million in Europe. It is estimated that 1–4% of these patients will die, 15% will suffer serious post-operative health burdens, and 5–15% will be admitted to a hospital within 30 days.

The Market for Powdered Surgical Gloves and Covid-19

The COVID-19 outbreak had benefited the powdered surgical gloves market. Furthermore, due to the virus’s rapid expansion, health professionals implicated in clinical findings were required to wear appropriate safety equipment, including gloves, to prevent disease. The powdered surgical gloves are also a crucial part of the personal protective equipment (PPE) accessorized by health professionals. COVID-19 had a significantly high growth potential for powdered surgical gloves globally.

The Asia-Pacific Region’s Emerging Economies Are Anticipated To Motivated the Market for The Powdered Surgical Gloves.

Asia-Pacific is anticipated to grow substantially in the Powdered Surgical Gloves market, attributed to high hygiene consciousness among health care providers and an increase in hospitalizations. According to the Centers for Disease Control and Prevention, hospital-associated infections infect one out of 25 patients. As a result, these figures are anticipated to propel the growth of the Powdered Surgical Gloves market in The Asia Pacific.

Developments & The Powdered Surgical Gloves Market

  • On March 2022, B. Braun has chosen to sell its Colombian medical and healthcare care division. Grupo Uros, a local corporation, will take over all centers on March 16, 2022. Over the last eight years, Braun has provided high-quality dialysis care to up to 2,000 patients.
  • On January 2022, On January 10, 2022, B. Braun feted the official launch of a cutting-edge Haemodialysis Concentrate Factory in the Thanh Oai Industrial Complex in Hanoi, Vietnam. The Factory B. Braun Vietnam is happy to address the global markets with more than 2.5 million units per year thanks to a development footprint of around 4000m2 and an initial investment of USD 5 million.

Powdered Surgical Glove Market Scope:

Report Metric Details
 Market size value in 2020 US$189.796 million
 Growth Rate CAGR during the forecast period
 Base year 2020
 Forecast period 2022–2027
 Forecast Unit (Value) USD Million
 Segments covered End-User, And Geography
 Regions covered North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Ansell Limited, Medline Industries, Inc., B. Braun Melsungen AG, Top Glove Corporation Bhd, Sempermed (A part of Semperit AG Holding), Kossan Rubber Industries Bhd, MRK Healthcare Pvt. Ltd
 Customization scope Free report customization with purchase

The Human Drugs for Veterinary Use Market is expected to grow at a compound annual growth rate of 2.90% over the forecasted period to reach a market size of US$4.102 billion in 2028 from US$3.357 billion in 2021.

Human drugs are tested on animals for their use before they are put out in the market. During these trials, it can be observed that these drugs have the same effect on the animals as they do on humans and hence, can be used in their treatment as well. More often than not, pharmaceutical companies produce more drugs for humans than animals and some animal ailments and disorders don’t even have an animal-specific drug treatment. Because of this stark difference between the sales and market size of these two industries, veterinarians often use extra-label human drugs to treat animals. This is a factor, therefore, has the potential to increase the size of the market in the forecasted period. Further, there has been a growing number of veterinary practitioners and pet services across the globe owing to the field being lucrative, which is projected to drive the market growth.

Adding to this, rising funding in the research and development programs on animal healthcare has increased the number of companies that are transitioning the application of human drugs to be developed and used as animal drugs. In usual cases, an average successful human drug can generate revenue exceeding the billion dollar mark while the hottest selling animal drugs can only achieve a tenth of that. This drives many veterinary drug manufactures to fill their pipelines using products that are already licensed for human use. This is another factor that is attributed to be a potential driver for the growth of this market.

Increasing Pet Population to Drive Growth in the Animal Health Care Market

One of the major reasons driving the growth of the human drugs for veterinary use market is the increasing global pet population as this increases the demand for these medicines by expanding the target demographic for this market as more people buy these medicines for the well-being of their pets. According to the APPA, US recorded a pet ownership of 70% in 2021 which was an increase from the pre-existing 67% in 2019. Nowadays, a lot of millennials consist of working professionals living away from home due to work commitments as bachelors or as nuclear families. This has led to a lot of those people to develop a sense of loneliness and feel the need of a companion, which is why a lot of people go with decision of getting a pet in order to tackle all these feelings and thus, contribute to the increasing pet population. Adding to this, millennials also form the largest adult cohort globally, constituting 23% of the population according to the World Population Prospects, United Nations, 2019 which acts as a catalyst in the rising global pet population and increase in the sales of human drugs for their medication and treatment.

Legal Issues, Safety Problems and Health Dangers May Restrain Market Growth of Human Drugs for Veterinary Use

Despite all the factors showing positivity for the growth of human drugs in the veterinary industries, there are some legal, health and safety issues that are associated with the extra-label drug use in animal healthcare and treatment. This brings up some risks for human drugs use for veterinary purposes. For instance, even though the mammalian species shares many similarities in response to these drugs on a surface level, sometimes at the cellular level, they might respond differently to the same drug. Adding to this there have been cases of practitioners prescribing human drugs for veterinary treatment sheerly out of affordability issues. This type of practice is considered ethically wrong and can have the veterinarian face legal issues for the same. These reasons work against the favour of the usage of human drugs in veterinary spaces and are hence projected to be restraints against the growth of this market.

Antibiotics Category to Hold a Significant Share in the Market

Antibiotics are used in the veterinary spaces for food animals to prevent, cure and control common diseases, to treat clinical diseases and to also facilitate and enhance animal growth. The antibiotics category is the one which is used most extensively in the market of human drugs for veterinary use as it is the one which is the most common and frequent drug prescribed by veterinarians. This is because most human antibiotics do not pose any threat towards animals as long as they are given in the correct dosage and often times, human antibiotics are approved for human as well as animal use from the get go. According to the Centre for Infectious Diseases Research and Policy, in the US, about 70% of the antibiotics that are medically important are also used in animals. Therefore this high versatile usability has projected this category to hold significant shares in the market and is also expected to promote the overall growth in the market due to the high number of sales in this segment.

America and Europe to Contribute Significant Growth Top the Market

Geographically, the human drug for veterinary use market can be segmented into regions like Asia Pacific, Europe North America, South America and Middle East and Africa. Out of all these regions, America and Europe are projected to be the major countries contributing towards the growth of the market. This can be attributed towards the fact that both these regions have a steadily growing pet ownership population, which is expected to drive market growth. According to the data by FEDIAF, 46% of the European households were recorded to own pets in 2021. On the other hand, according to the APPA, US recorded a pet ownership of 70% in 2021. Adding to that, the consumption and sales of these drugs is highest in the US. Further, with sufficient funding in R&D, Boehringer Ingelheim in Germany is pegged to be one of the top five companies globally when it comes to animal pharmaceuticals.

COVID Insights

Initially, even though the pandemic brought a slight dip in the market due to supply chain disruption owing to the lockdown and shutting down of production facilities just like many other industries, it gradually brought with it steady growth with passing time. This was due to the fact that many people adopted or bought pets to keep their mental health balanced in a time that otherwise caused anxiety and despair among people. This increased the demand of these products automatically due to the growing consumer base. Adding to that, the pandemic was a boon for the pharmaceutical industry since the sales increased due to people being cautious about the coronavirus and other infections for themselves as well as their pets.

Global Human Drugs for Veterinary Use Market Scope:

Report Metric Details
Market Size Value in 2021 US$3.357 billion
Market Size Value in 2028 US$4.102 billion
Growth Rate CAGR of 2.90% from 2021 to 2028
Base Year 2021
Forecast Period 2023 – 2028
Forecast Unit (Value) USD Billion
Segments Covered Medication Type, Drug Type, and Geography
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered Merck & Co, Zoetis, Boehringer Ingelheim, Elanco animal health, Vetoquinol S.A, Ceva Sante Animale, Virbac S.A 
Customization Scope Free report customization with purchase