INDUSTRYTRENDS

An extensive volume of barium nitrate is being used in the production of ceramic powder, which is an essential ingredient for electronic components such as capacitors, semiconductors, and superconductors. Ceramic powder coating is used in the electronics industry for device packaging, specialized mechanical components, superconductor devices, and semiconductor devices. Thus, the burgeoning demand for electronic products, on account of the rising disposable income of people and soaring need for technologically advanced devices, will create a huge requirement for this salt globally.

Furthermore, a large volume of barium nitrate is being used as an oxidizer in the glass industry, to prevent spontaneous crystallization during the production process, as it helps in improving opacity and homogeneity in porcelain enamels. Moreover, crystalline powder serves as an important ingredient in optical glass. Additionally, the compound is consumed in the military industry for multiple applications. Thus, the mounting investments being made in the military sector, owing to the expanding military processes and security risks, will propel the consumption of barium nitrate.

Apart from the electronics, military, glass, and fireworks/pyrotechnics industries, the vacuum tube and chemical industries also use a considerable volume of this salt. At present, the fireworks/pyrotechnics industry uses the highest volume of the compound owing to the trend of bursting firecrackers for celebratory purposes. For instance, the people of New York burst huge quantities of firecrackers during the new year and Independence Day celebrations. Similarly, the increasing use of firecrackers during wedding processions and sports events will propel the consumption of this chemical in the fireworks sector.

Currently, the requirement of end-use industries for this chemical is met by Xilan Chemicals Co. Ltd., Jiaocheng Sanxi Chemical Co. Ltd., Angene International Ltd., Tennants Distribution Ltd., Hummel Croton Inc., Solvay, Hebei Xinji Chemical Group Co Ltd., SNDB, Basstech International Llc, and Sakai Chemical Industry Co. Ltd. Nowadays, these companies are primarily focusing on improving the product quality, reducing product cost, and enhancing supply reliability, to reach out to a greater number of customers across the world.

According to P&S Intelligence, Asia-Pacific (APAC) led the barium nitrate market in the preceding years, and it is expected to retain the leading position in the upcoming years. This can be attributed to the flourishing electronics industry, on account of the mounting disposable income of people, and escalating use of the compound in the fireworks sector. Additionally, the consumption of barium nitrate in military and pyrotechnics applications is increasing in the region.

With the rising incidence of skin diseases, the demand for muscle relaxant drugs is surging sharply across the world. Some of the major factors fueling the incidence of these diseases are the increasing pollution levels, the excessive exposure to ultraviolet (UV) radiation, and increasing tobacco and alcohol consumption. Moreover, exposure to UV rays causes reduction in skin elasticity and also makes the skin highly vulnerable to sunburns, thereby pushing up the requirement for muscle relaxant drugs.

Apart from the aforementioned factor, the rising prevalence of acne is also powering the sales of muscle relaxant drugs around the world. This is because botulinum toxin-based muscle relaxant procedures are required for treating this disease. The surging spending on various facial aesthetic treatment procedures, on account of the growing disposable income of people, and the soaring usage of neuromuscular blocking agents in surgeries are also powering the sales of these drugs.

For instance, as per the National Bureau of Statistics of China, the annual per capita disposable income of urban households in the country grew from $2,271 in 2008 to $3,408.5 in 2012. Another major factor propelling the demand for these drugs is the mushrooming geriatric population in several countries. As per the United Nations Department of Economic and Social Affairs (UNDESA), the share of geriatric people in the global population rose from 9.2% in 1990 to 11.7% in 2013.

Due to the above-mentioned factors, the global muscle relaxant drugs market is expected to exhibit huge expansion in the coming years. Neuromuscular blocking agents, skeletal muscle relaxants, and facial aesthetics relaxants are the most widely used types of muscle relaxant drugs. Amongst these, the demand for these relaxants was found to be the highest during the last few years. Moreover, the sales of these relaxants are predicted to rise rapidly in the upcoming years.

This will be because of the high efficiency and safety of these relaxants. Botox and disport are the two most commonly used facial aesthetics relaxant drugs across the world. Between these two, the sales of the botox drugs were found to be higher in the past years, and this trend will continue in the coming years as well, as per the estimates of P&S Intelligence, a market research company based in India.

Geographically, the demand for muscle relaxant drugs was observed to be the highest in North America in the years gone by. This was because of the large-scale usage of facial muscle relaxants and the existence of a large geriatric population in the region. On the other hand, in the forthcoming years, the sales of these drugs will shoot up in Asia, primarily due to the rapidly improving healthcare infrastructure and the increasing volume of surgeries being performed in the region.

The enactment of strict government regulations and environmental standards for mitigating water and air pollution is driving the demand for liquid and air filter bags across the world. In recent years, industrial activities have surged in several countries and this has led to the generation of large quantities of liquid and air wastes, thereby causing rapid environmental degradation. As a result, the governments of many countries implemented environmental standards and regulations in order to reduce the emission of pollutants or contaminants into the atmosphere.

Because of the enactment of such regulations, many industries started using liquid and air filter bags, as these products help in removing the dust particles settled in various systems and machinery. Additionally, the burgeoning requirement for these filter bags in the cement manufacturing and mining industries is also creating lucrative growth opportunities for the players operating in the liquid and air filter bags market. In these industries, liquid and air filter bags are extensively used for reducing the generation of dust particles during manufacturing processes.

Liquid filter bags are heavily used in filtration processes or for removing solids from liquids, which is required in various applications such as bitumen, food, resins chemical, adhesives, paper, water treatment, and petroleum. Chemicals and pharmaceuticals, water treatment, mining, cement, and steel and power industries are the major end users of liquid and air filter bags. Out of these, the requirement for these bags was observed to be the highest in the chemicals and pharmaceuticals industry in 2017.

In this industry, these bags are extensively used for removing dust and other unwanted substances from the equipment machinery. Across the globe, the sales of these bags were the highest in the Asia-Pacific (APAC) region in the years gone by. This was due to the huge demand for clean indoor air and the implementation of stringent emission regulations in the region. Moreover, with the surging power production and the expansion of food and beverage and oil and gas industries, the demand for these bags will explode in the region in the coming years.

In recent times, the usage of liquid and air filter bags has surged sharply in coal fired power plants. For instance, the demand for these bags has grown massively in APAC over the last few years, mainly because of the fact that the use of these bags in coal plants has increased enormously. In these plants, these bags are used for controlling water and air pollution levels. Furthermore, filter bags made from polyphenylene sulfide are being heavily used in dust chamber filters in incinerators and coal-powered fire stations.

Patients suffering from chronic diseases such as cancer, obesity, diabetes, and cardiovascular diseases (CVDs) require constant engagement with medical facilities as such ailments affect people for a long duration and need constant monitoring. According to the International Diabetes Federation (IDF), 700 million people in the age bracket of 20–79 years will be suffering from diabetes by 2045. Further, the World Health Organization (WHO), CVDs, diabetes, and cancer account for 17.9 million, 1.5 million, and 9.3 million deaths respectively, each year.

In recent years, patient engagement solution providers, such as Medical Information Technology Inc., Computer Programs and Systems Inc., Allscripts Healthcare Solutions Inc., InterSystems Corporation, International Business Machines Corporation (IBM), Epic Systems Corporation, Cerner Corporation, eClinicalWorks LLC, and athenahealth Inc. are actively engaging in research and development (R&D) for introducing novel solutions to improve the condition of patients. For example, in April 2018, McKesson Corporation introduced Health Mart Atlas to deliver high-quality care. This managed-care solution is a strong network of high-performing community pharmacies.

Patient management software, hardware, and services offered by the aforementioned solution providers are used in health management, financial health management, home health management, and social and behavioral health management applications. In recent years, patient engagement solutions were primarily used in health management applications, due to the surging adoption of technological solutions, owing to the rising government initiatives toward spreading awareness among people regarding disease prevention. Owing to the wide application base of such solutions, they are used by individuals as wells as healthcare organizations.

According to P&S Intelligence, North America dominated the patient engagement solutions market in the recent past, due to the surging incidence of chronic ailments and the soaring number of healthcare information technology (HIT) solution providers in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), cancer, diabetes, and heart disease are the most common causes of disabilities and fatalities in the U.S. Moreover, the presence of a well-established healthcare infrastructure is boosting the adoption of patient engagement solutions in the region.

Whereas, Asia-Pacific (APAC) is expected to adopt patient engagement solutions at the fastest pace in the foreseeable future. This can be attributed to the increasing prevalence of chronic diseases, rising awareness about such solutions for managing patients, and escalating geriatric population in the region. For example, the International Diabetes Federation (IDF) predicts that the number of diabetic patients in South East Asia in the age group of 20–79 years will increase from 88 million in 2019 to 153 million by 2045.

Hepatitis is a common condition around the world that most-prominently causes the liver to swell. There are several risk factors for this condition, including alcohol and drug usage and several infections. However, the most-common cause is the five hepatitis viruses: A, B, C, D, and E, themselves. These viruses can be transmitted into the host via contaminated food and water, infected blood and semen (via sex), unsterilized medical equipment, such as needles and catheters, and in utero.

Mostly, the condition is acute and the symptoms mild, generally consisting of yellow skin, urine, and sclera (jaundice); fever, body ache, loss of appetite, and malaise. However, chronic hepatitis can lead to liver cirrhosis and even liver cancer; therefore, the awareness on catching the condition early and effectively treating it is rising. As per P&S Intelligence, due to such factors, the hepatitis drugs market value is predicted to increase sharply in the next few years.

Additionally, several international and national agencies around the world are working to make people aware of the different forms of the disease and increase the access to timely diagnosis and quality care. For instance, the WHO recognizes July 28th as World Hepatitis Day and conducts awareness campaigns. Moreover, it launched the Global Health Sector Strategy on Viral Hepatitis, 2016–2021 in May 2016, under which it aims to reduce the number of new hepatitis cases by 90% and the number of deaths by 65% by 2030. Similarly, May is recognized as Hepatitis Awareness Month in the U.S., wherein similar activities are conducted.

Of all these types of viral hepatitis infections, the demand for drugs has been the highest for hepatitis C. This is because acute forms of all these diseases do not require treatment, and only the chronic forms do. Hepatitis A and E rarely transition into chronic conditions, whereas only 10–40% of the people with hepatitis B actually require hospitalization. Additionally, by treating hepatitis B, hepatitis D is also treated and its risk reduced, as the hep D virus cannot replicate inside the body without the hep B virus. Hep C, on the other hand, often transitions into a chronic condition, ultimately leading to cirrhosis liver cancer, and hepatic failure; therefore, the idea behind the treatment of hep C is always a complete cure.

North America has been the most-productive hepatitis drugs market till now because it accounts for the most-advanced healthcare infrastructure and easy access to treatment. Additionally, the geriatric population (65 and above age group) in the region is set to cross 96.2 million by 2050 from 59.9 million in 2019, according to the World Population Ageing 2019 report of the United Nations (UN). Owing to their weakened immune system, the elderly become easy hosts for the hepatitis virus. Additionally, they need more-extensive care than the younger people, which is why they account for high hospitalization rates.

One of the major factors driving the worldwide demand for automotive elastomers is the implementation of stringent environmental regulations in several countries for mitigating CO2 emissions. Moreover, many international organizations are increasingly enacting strict guidelines for reducing greenhouse gas emissions. For instance, many organizations in Europe and North America are enacting policies that mandate the production and incorporation of lightweight materials in automobiles in order to mitigate CO2 emissions and achieve the preset emission targets by 2025.

Similar policies have been enacted by the governments of various countries in the Asia-Pacific (APAC) region. China, which is the largest emitter of greenhouse gases in the region, intends to introduce policies for controlling its emission levels. Other countries in the region such as India, Indonesia, and Australia, are also enacting regulations for reducing the effects of climate change by mitigating the generation of carbon emissions. The enactment of these policies is creating lucrative growth opportunities for the players operating in the automotive elastomers market.

Furthermore, many North American and European countries are strictly adhering to emission regulations by focusing heavily on fuel economy, which is make the adoption of lightweight, high-precision, and durable automotive elastomers necessary for gaskets, weather seals, and hoses in automobiles. The Environmental Protection Agency (EPA) has enacted emission standards and regulations for light cars and trucks in North America. For passenger cars, the targeted permissible emission limit has been set at 143 grams per miles (g/mi) which is lower than the limit set for 2016, which was 225 g/mi.

Between these, the demand for synthetic elastomers was found to be higher during the last few years. On the other hand, in the coming years, the sales of thermoplastic elastomers are expected to rise at a faster pace, on account of the high durability and excellent physical characteristics of thermoplastic elastomers, which make them very popular among automobile manufacturing companies around the world. Geographically, the demand for automotive elastomers soared in the Asia-Pacific (APAC) region in the years gone by.

This was because of the rapid expansion of the automotive industry and the large-scale adoption of lightweight materials by automobile manufacturers in the region. In the coming years, the sales of automotive elastomers are predicted to surge in North America and Europe. This is credited to the boom in the automotive industry, enactment of strict emission regulations, and rising popularity of high-performance automobiles in these regions. In North America, the demand for these elastomers was the highest in the U.S. in 2015.

The rising usage of roll-up doors in cleanrooms, on account of their numerous advantages, such as the ability to maintain the air pressure differential in cleanrooms and less-space-occupying characteristics, as compared to the other doors, is one of the biggest factors contributing to the increasing adoption of cleanroom doors, especially in the pharmaceutical and biotechnology industries and research laboratories across the world. Additionally, the expansion in these industries in several countries is further pushing the need for cleanroom doors, owing to the requirement for a contamination-free environment for the production of vaccines and drugs.

The advancements in the cleanroom technology are significantly boosting the adoption of cleanroom doors across the globe, as they help in maintaining a pollutant-free environment required during the manufacturing of various sensitive products. It is also extremely important for the end-user companies that the products and equipment pass through cleanroom doors without altering the air pressure differential. This requirement is pushing various cleanroom doors manufacturing companies to develop doors having advanced features, such as the high-speed roll-up doors.

Driven by the above-mentioned factors, the global cleanroom doors market is expected to exhibit consistent growth in the coming years. In the medical industry, cleanrooms are highly sought-after, especially due to the surging need for enhanced healthcare facilities and products and the soaring geriatric population in numerous countries around the world. These rooms are equipped with several features, which help in lowering the amount of chemical vapors, microbes, dust, and aerosol particles, in order to offer a completely pollutant-free environment.

Doors are an integral component of cleanrooms, owing to the fact that they are responsible for completely sealing the room, for the creation of a controlled environment. If the cleanroom doors are not able to function properly, the cleanroom will get exposed to pollutants and contaminating agents, thereby reducing the quality of the products being produced in such places. These doors are made airtight, in order to keep the cleanrooms sterilized, which is especially important in the manufacturing of medical devices and pharmaceutical drugs.

The rising quality standard requirements in the production process of drugs and other pharmaceutical products are playing a huge role in promoting the use of cleanrooms across the world. Manufacturers of drugs and medical equipment are required to adhere to stringent requirements pertaining to quality standards, thereby leading to the adoption of cleanrooms. Owing to the increasing preference of customers for products that are compliant with International Organization for Standardization (ISO) and Current Good Manufacturing Practices (cGMP), the adoption of cleanroom doors will increase, thereby leading to growth in the cleanroom doors market in future.

With the escalating pollution levels, the governments of many countries are focusing on encouraging the use of renewable energy sources for power generation. Moreover, the rapid depletion of natural resources such as fossil fuels, owing to their exploitation, is further boosting the demand for clean alternative energy sources such as wind. Owing to these reasons, the governments of several countries are implementing policies aimed at augmenting wind power generation, which is, in turn, pushing up the demand for wind turbine composite materials.

Besides, the enactment of strict environmental regulations by many governments and organizations in order to mitigate greenhouse gas emissions, is also propelling the popularity of wind energy. For example, in Germany, the Renewable Energy Sources Act 2011 has mentioned fixed feed-in tariffs (FiTs) for the power utilities that are producing renewable energy in the country. Likewise, the governments of various other countries are providing financial support, schemes, and tax benefits to organizations for purchasing equipment required for producing wind energy. This is further boosting the requirement for wind turbine composite materials.

The popularity of carbon fibers is also soaring, on account of the fact that these fibers have low weight and exhibit high strength. Nacelle and wind blades are the major application areas of wind turbine composite materials. Between these, the usage of wind turbine composite materials was observed to be higher in the production of wind blades during the last few years. Geographically, the sales of wind turbine composite materials were found to be the highest in the Asia-Pacific (APAC) region in 2015.

This was because of the fact that the cumulative wind power generation capacity in the region surged from 100.8 GW in 2012 to 146.4 GW in 2014, which caused a massive rise in the demand for wind turbine composite materials. In APAC, the demand for these materials was the highest in China in the years gone by. The total capacity of wind power in the country rose from 75.3 GW in 2012 to 114.6 GW in 2014.

From 29,848,570 kilotons (kt) of CO2 equivalent in 1990, global greenhouse gas (GHG) emissions surged to 45,873,850 kt of COs equivalent in 2018, as per the World Bank. The sources of these emissions are diverse, from power plants and factories to homes and even living things (nasal exhalations). The major ill-effect of these emissions is air pollution, which, in turn, gives rise to the more-serious global warming, climate change, and respiratory problems, such as asthma and chronic obstructive pulmonary disease (COPD). While nothing can be done about human exhalations, a lot could be done about checking the GHG emissions from other sources.

The rising incidence of respiratory diseases is making the provision of such readings and advisories necessary. According to the World Health Organization (WHO), asthma affected 262 million people and led to 461,000 deaths in 2019, while COPD caused 3.23 million deaths, thus becoming the third-leading cause of human mortality. Moreover, air pollution is a major risk factor for lung cancer, which already is the third-most-prevalent of all cancers in the world.

The key reason behind air pollution is the rapid urbanization, with the United Nations (UN) saying that 68% of the people on earth will be city dwellers by 2050, compared to 55% in 2019. This is leading to the rise in the number of gasoline (petrol) and diesel automobiles, rapid construction of power plants, most of which still burn coal or crude oil; rampant construction, which releases huge amount of dust and other fine particles into the atmosphere; and surging consumption of cooking gas.

As a result, government agencies and academic institutes, power generation plants, petrochemical industry, commercial and residential sectors, and pharmaceutical industry are using a range of devices to measure the outdoor as well as indoor air quality. Of these, sales of devices that measure the outdoor air quality is rising faster because air pollution in large areas impacts more people than that in indoor settings. Moreover, many times, the indoor air quality depends on that outside, with the air conditioners and other types of ventilation systems sucking in the air from outside.

Presently, the practice of AQM is the most-widely followed in North America, which accounts for a high incidence of respiratory diseases. As per the National Cancer Institute, colorectal, prostate, and lung cancers accounted for 43% of all the new cancer cases diagnosed in the U.S. in 2020. In addition, awareness on the fact that air pollution is not only caused by GHGs, but also by volatile organic compound (VOC) emissions and other substances has led to the wide usage of AQM devices in indoor settings.

However, Asia-Pacific (APAC) is expected to be the fastest-growing air quality monitoring market in the years to come. Home to the most city dwellers in the world, APAC’s problem of GHG emissions is especially serious. Moreover, this region also has the largest number of automobiles on the roads, which are a major contributor to these emissions. Delhi, Beijing, and several other Chinese and Indian cities constantly rank as the most-polluted in the world, which has created a strong need for regular AQI bulletins based on the readings from AQM devices.

The launch of new flavors, introduction of low-fat substitutes, rise in the utilization of organic and natural ingredients, and increasing willingness of consumers to try international cuisines. On the basis of type, the market is divided into dips, table sauces, pastes & purees, pickled products, cooking ingredients, and others.

Among all these, the table sauces division contributed the largest revenue share of more than 30.0% to the market in 2017, as table sauces are utilized extensively with snacks and fast foods as instant accompaniments. Table sauces are further of different types, namely horseradish sauce, chili sauce, mayonnaise, soy sauce, oyster sauce, mustard sauce, and barbecue sauce. The demand for tomato sauce has been the highest in the past among all the table sauces.

The cooking ingredients division is predicted to grow at the fastest pace during the forecast period, owing to the increasing preference for home-cooked meals. When distribution channel is taken into consideration, the sauces, dressings, and condiments market is categorized into convenience stores, specialist retailers, supermarkets/hypermarkets, and others (which include internet retailers, non-grocery specialists, and mixed retailers). Out of all these, the convenience stores category is projected to register the highest CAGR during the forecast period, both in terms of value and volume.

Geographically, the sauces, dressings, and condiments market was dominated by Asia-Pacific in 2017, as the demand for Mexican and Chinese cuisines is increasing. Young people, especially, are becoming more and more open to experimenting with new types of foods. Owing to the fact that international cuisines make wide usage of sauces, dressings, and condiments for preparing food, their demand is rising as well. Japan dominated the regional domain in 2017, as these products are used in traditional cuisine of the country.

The increasing disposable income of people is a major driving factor of the sauces, dressings, and condiments market. With globalization, the penetration of international cuisines has been rising all across the globe. People are becoming increasingly interested in trying out different kinds of cuisines, and improvement in the spending power of people, particularly in emerging economies, is enabling them to do the same. This is further leading to the growth of the market.

A key trend being witnessed in the sauces, dressings, and condiments market is the rising requirement for gluten-free and organic sauces. People these days are extensively becoming health-conscious, and hence are trying to cut back on foods that can have negative impact on their bodies. Due to this, the demand for gluten-free diet has increased. In addition to this, food & beverage companies that were conventionally offering sauces and other such products with gluten are now focusing on developing gluten-free products.

The World Bank estimates that nearly 35% of the Indian population and 87% of Brazil’s population resided in urban areas in 2020. The World Bank also states that 185,081,850 people and 481,980,330 people resided in urban areas in Brazil and India, respectively, in 2020. Thus, the high urbanization rate here will augment the production and adoption of commercial electric vehicles (EVs), owing to the increasing air pollution levels caused due to conventional commercial vehicles.

Moreover, the improving operational efficiency and declining cost of batteries will fuel the commercial electric vehicle market at a robust CAGR of 13.3% during 2018–2025. The market was valued at $144.5 billion in 2017, and it is projected to generate $362.7 billion revenue by 2025. As the battery accounts for a significant part of the commercial EV production cost, any plunge in the battery cost would enable automakers to cut down the selling price of such automobiles. The reducing battery cost can be credited to the rising technological advancements in and surging production of such energy storage devices in emerging economies, such as China.

Buses and trucks are the two types of commercial EVs being integrated into transportation systems across the world. AB Volvo, Bozankaya A.S., Dongfeng Motor Corp., Tata Motors Ltd., Bluebus SAS, Chariot Motors, Proterra Inc., Ashok Leyland Ltd., Caetanobus - Fabrico De Autocarros E Carrocarias S.A., BYD Co. Ltd., Alstom–NTL, and Alexander Dennis Ltd. are the leading electric bus manufacturers. Whereas, Cummins Inc., Scania AB, E-Force One AG, Workhorse Group Inc., Hino Motors Ltd., Nissan Motor Co. Ltd., and Isuzu Motors Ltd. are some of the prominent electric truck manufacturers.

These original equipment manufacturers (OEMs) deploy lithium–iron phosphate (LFP) or lithium–nickel–manganese–cobalt oxide (NMC) batteries in their electric buses and heavy-duty, medium-duty, and light-duty electric trucks. These batteries can have round, pouch, and prismatic cell formats. In the coming years, round cells will be deployed at the highest rate because they offer the highest energy density, of nearly 250 Watt-hours (Wh)/kg. Whereas, pouch cells exhibit an energy density of approximately 190 Wh/kg.

At present, companies operating in the commercial electric vehicle market are engaging in product launches, facility expansions, and mergers and acquisitions to expand their clientele. For example, in August 2018, LCK6120EVQG, a 12-meter electric bus model, was introduced by Zhongtong Bus Holding Co. Ltd. in China. The bus is equipped with state-of-the-art technologies and made of magnesium alloy materials and carbon fiber to reduce its overall weight by 26%. Similarly, in September 2018, Mercedes-Benz announced its plan to begin the practical trials for an all-electric heavy-duty truck, named eActros.

According to P&S Intelligence, Asia-Pacific (APAC) adopted the highest number of commercial EVs in the preceding years, and it is expected to adopt them at the highest rate in the forthcoming years too. This can be ascribed to the surging focus of the government of China on increasing the deployment of electric buses in the transportation system of the country. Additionally, the plunging costs and increasing production of advanced batteries in China facilitate the purchase of commercial EVs.

In countries like China and India, the urbanization rate is rising, with around 57% and 33% of the population of these countries, respectively, living in cities in 2017, and these shares rose to 61.4% and 35.0% in Chin and India, respectively, by 2020. The urban population in India is expected to reach around 1.4 billion by 2023, and in China, around 1.4 billion by 2025. Urbanization brings a variety of changes in the demands of people, as the lifestyle and living preferences change. Thus, it will propel the Asia-Pacific (APAC) commercial refrigeration equipment market in the years to come.

Urbanization, due to which the number of modern retail stores and supermarkets has increased, has led the way for the usage of commercial refrigeration equipment. In addition, it has also led to an increase in the workforce in countries like China, India, New Zealand, Australia, and Japan. This has resulted in an increment in the trend of eating out at restaurants and consuming packaged food. To offer people with busy lifestyles more convenience, the online retailing of fresh as well as frozen food is picking up, which is augmenting the demand for refrigeration in commercial spaces.

Among the different equipment types used for refrigeration in commercial spaces, walk-in coolers witnessed the highest demand in the past. This was due to the changing food patterns, visible in the rising consumption of frozen foods. As the purchasing power of customers has also increased, hypermarket and supermarket chains have expanded, thereby driving the demand for walk-in coolers in the APAC region. Moreover, ice-making machinery is predicted to grow in demand in the coming years due to the increasing number of bars, cafes, and many other food outlets.

This is consistent with the fact that within the commercial sector, refrigerators are majorly bought by entities dealing in the food service business. Here, maintaining and preserving the food quality till it reaches diners are vital. The increasing income of consumers has inclined them toward dining out, which has led to a rise in the number of restaurants, where commercial refrigeration equipment plays a crucial role in ensuring optimum food quality.

There are three major APAC commercial refrigeration equipment market players, among which United Technologies Corporation makes the largest number of sales. Other major manufacturers offering this equipment in the APAC region are S.A.I., AB Electrolux, Illinois Tool Works Inc., Hussmann Corporation, and Johnson Controls International Plc. According to P&S Intelligence, they are shifting from fluorinated refrigerants to natural refrigerants because of the increasing global warming concerns. For instance, Japan has modified its F-Gas Law, while China has released a potential list of gases that can be used as the refrigerant.

The demand for such systems in the region dropped significantly in 2020 due to the COVID-19 pandemic, to combat which governments enforced lockdowns. The food service industry was among the hardest hit by the lockdowns as all restaurants, bars, cafes, and pubs were closed down. However, since the second half of 2021, with the dropping case count, restaurants are opening again, albeit with restrictions on the number of diners. In the coming months, as this industry opens further, the demand for refrigeration equipment will start to rise.

As per the World Health Organization (WHO), 17.9 million people die of heart diseases and 9.6 million of cancer each year. Those who succumb to or survive such diseases experience long-term discomfort, and the quality of their life is severely destroyed. Hence, the focus of the global healthcare fraternity on their effective diagnosis, so that the appropriate care regimen can be initiated, is rising. A variety of tests are done at hospitals and diagnostic centers for the detection, staging, and treatment evaluation for these and many other diseases.

Therefore, with the rising number of people requiring diagnostic tests, the computed tomography (CT) market is expected to witness a steady 5.0% CAGR between 2016 and 2022, since generating $4,894.3 million in 2015, according to P&S Intelligence. A CT machine is one of the most-useful tools at medical centers to scan the insides of the body. It uses X-rays to create pictures of bones, muscles, tissues, organs, and blood vessels, so that the issues related to them can be identified.

One of the main purposes a CT is used for is looking for internal trauma, such as internal bleeding and brain injuries. As per the WHO, almost 1.3 million people die of road accidents each year. Since road accidents lead to some of the nastiest injuries, CTs are extensively used in emergency settings to evaluate the condition of the victim. In such places, where time is short, a CT is usually preferred over a magnetic resonance imaging (MRI) scan, as the former can generate images within minutes, while an MRI can take up to 40 minutes to create images.

Apart from helping in the diagnosis, CTs also help doctors in assessing the effect of treatments and in several medical procedures. For instance, minimally invasive surgeries (MIS), which are becoming increasingly common with time, are centered on the principle of as minute incisions as possible. But, as the doctor still needs to see inside the body, CTs can be used to guide the surgeon. Similarly, CT-guided biopsies and radiation therapies are also increasing in volume, especially with the rising incidence of cancer.

When doing a CT, a key term radiologists use is ‘slice’. CT scanners can range from one to 320 slices! A slice is the number of layers the scanner can break the body into. It is literally like slicing a loaf of bread to check if it has gone bad inside. How many slices a CT should have is a matter of debate, with some radiologists insisting that a cost-effective 64-slice CT is as good (for cardiac diagnosis) as an expensive 256-slice variant.

However, the demand for high-slice CTs is still expected to increase fast in the coming years, as their potential usage for more applications than before is evaluated. For instance, owing to their ability to scan the entire heart in 0.5 seconds, 320-slice CTs might be a better option for cardiac perfusion imaging than 64-slice variants and for adenosine stress imaging, currently done by MRIs and positron emission tomography (PET) systems. For the same reason, high-slice CTs could also be used for the perfusion imaging of the brain and liver, thus allowing multiple departments of a hospital to share one system.

Presently, North America is the most-productive computed tomography market on account of the rising incidence of chronic diseases, especially heart diseases and cancer, booming geriatric population, increasing healthcare spending, and improving healthcare facilities. Apart from North America, the demand for CT systems is set to grow rapidly in Asia-Pacific (APAC) in the future, due to almost the same reasons. Moreover, to offer quality healthcare, governments of APAC countries are taking measures to construct new hospitals and procure advanced CT machines and other systems.

Almost 77% of the disease burden and 86% of all annual deaths in Europe are a result of chronic diseases, as per the World Health Organization (WHO). For instance, almost 60 million people in the continent suffer from diabetes, and the WHO says that this number is steadily going up. People of all ages are falling prey to this common, yet pestering endocrine disorder due to obesity, physical inactivity, and poor diet. Similarly, the agency says that heart diseases kill more people than tuberculosis, acquired immune deficiency syndrome (AIDS), and malaria together, in Europe. With the rise in the prevalence of all such chronic diseases, the hospitalization rate is going up.

In today’s time, be it monitoring and therapeutic equipment, bathroom safety equipment, medical furniture, or personal mobility equipment, everything needs to be strong and long-lasting. Among these, durable monitoring and therapeutic equipment has been in the highest demand in the continent, owing to its extreme importance in patient care. Systems such as infusion pumps, blood glucose monitors, oxygen equipment, and vital sign monitors are not only essential in healthcare settings, but several of them are also quite expensive. Additionally, with their heavy usage round the clock, they suffer wear and tear, which is why they must be durable.

Further, among the various monitoring and therapeutic systems, vital sign monitors account for the highest installation rate, and the situation is expected to be the same in the coming years. The reason for this is that in surgery rooms, patient rooms, and emergency wards, these devices are quite essential. A single system provides information regarding the patient’s blood pressure, heart rate, respiratory rate, body temperature, and oxygen saturation. Any deviation from the standard values of these parameters can be easily seen on the screen, which enables swift medical intervention.

All such durable medical equipment is used at ambulatory surgical centers (ASCs), hospitals, and home care settings. Till 2018, hospitals procured these products in the highest numbers, as the patient footfall is the highest at such places. People prefer to visit hospitals because such establishments offer better healthcare facilities and employ professionals from all fields of medicine. In the coming years, the installation of such systems is expected to grow the fastest in home care settings, due to people’s preference for privacy and increasing geriatric population, which cannot always travel to a hospital.

Germany is currently the largest European durable medical equipment market, as it is home to a large number of hospitals, more specifically 1,951 in 2018, which hosted over 19 million patients that year, according to the Federal Statistical Offices. In the coming years, the purchase of such products is projected to escalate the fastest in the U.K., as the life expectancy here is increasing. The Institute for Health Metrics and Evaluation (IHME) has reported an increase of 4.2 years in the life expectancy of women and 6.3% for men during 1990 and 2017 in the U.K.