About 25 Global Players Dominate Global Polyurethane Market Holding Over 40% of Revenue in 2021 Says Report: Ken Research

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Few Diverse Global Players Dominate the Market Holding ~40% of Revenue Share Despite Presence of about ~250 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Global Polyurethane Market  by Ken Research.

Plastic substance polyurethane comes in a variety of shapes and sizes. It is the material of choice for a wide range of end-user applications and may be modified to be either rigid or flexible. Polyurethanes are adaptable, contemporary, and secure. They are employed in a wide range of processes to produce a wide range of consumer and industrial goods that are essential in making our lives more practical, cozy, and ecologically friendly. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

1. Global Players that Constitute Just 10% of Total Number of Competitors Hold Largest Revenue Share of 40% While Regional Companies Also Have A Strong Presence and Hold 30%

A comprehensive competitive analysis conducted during the Research Study found that the Global Polyurethane Market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players. The large global players comprise about 10% in terms of the number of companies and hold ~40% of the market revenue share followed by regional players which account for ~30% of the market revenue. Most of the country-niche players are foam and raw material suppliers. Some of these who successfully evolve to create application-specific solutions often get acquired by large global players seeking to grow and diversify quickly.

 

2. Leading Specialist Global Players' Ongoing Efforts To Provide Range Polyurethane Foams To Multiple End User Industries are Driving Revenue Growth of this Market

Detailed comparative analysis of key competitors available within the Research Study shows that specialist companies, such as Foamcraft Inc, and Laxness are highly focused on providing a significant number of polyurethane products that can be used across multiple industries, including furniture, building and construction, and more.

3. A Temporary Halt in Manufacturing Activities Caused By The Prolonged COVID-19 Hindered The Global Production Of Raw Materials.

Government restrictions on travel, lockdowns, and factory closures caused by the COVID-19 pandemic affected the polyurethane industry. The building and construction sector’s stagnancy harmed the polyurethane market. Storage apparatuses, such as specific refrigerators, where COVID-19 vaccine vials can be kept, are prepared using rigid polyurethane foams. These are deployed in the global shipment of vaccines.

Due to the COVID-19 pandemic, there was a temporary halt in manufacturing activity that hampered the production of raw materials around the world. It affected both the market and other concurrent activities in the end-user segment. Several raw material orders, including those for MDI, TDI, polyols, and isocyanates, were delayed or canceled, resulting in production bottlenecks.

However, the building and construction industry, along with the furniture market, is in a recovery mode, putting the Polyurethane market back on the growth trajectory.

Increased Government Initiatives And Policy To Support The Growth Of The Global Polyurethane Market

The use of methylene chloride at foam production processes is forbidden by the final National Emission Standards for Hazardous Air Pollutants (NESHAP). Local manufacturers of flexible polyurethane foam Cut or glue pieces of flexible polyurethane foam extension of the Time for Public Comment the planned RTR's public comment period has been extended until March 29, 2021. These components are then employed in upholstered products including furniture, automobiles, some appliances, and other products, either together or to other substrates.

The phase-down of HFCs for low GWP blowing agents has the complete backing of the American Chemistry Council (ACC). In accordance with the AIM Act, the Center for the Polyurethanes Industry (CPI) petitioned the EPA in May to gradually reduce the usage of HFCs in the polyurethane industry. With effect from January 1, 2023, the petition asks the EPA to reinstate the limitations on HFCs from the Significant New Alternatives Policy initiative.

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Global Polyurethane Market

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Growth of Cosmetic Surgery and Procedure Market is driven by Moving Dimensions of Beauty: Ken Research

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Cosmetic surgery is a surgical or non-surgical procedure that is dedicated to the reconstruction of facial and body structure. Cosmetic processes are becoming more prevalent and expanding at a speedy rate due to the technological innovations and the development of sophisticated materials such as silicone implants, among others are influencing the industry forward. The introduction of technologically improved products, such as non-invasive body contouring systems, which utilize fat freezing technology, is predicted to generate the lucrative growth choices.

The market has observed a spike during the past few months and it is projected to be in high requirement throughout the reviewed duration. According to the report analysis, ‘Cosmetic Surgery and Procedure Market: Current Analysis and Forecast (2021-2027)’ states that growing awareness in the population universally through, peer pressure for appearance and attractiveness, and moving dimensions of beauty, will propel the growth of the market.

COVID-19 is a global health emergency that distresses almost every industry, this pandemic has been proceeding to move the growth of dissimilar market sectors. In the healthcare industry, the pandemic directly affected the producing, demand, and supply chain of several medical devices and pharmaceutical companies.

Some of the foremost companies functioning in cosmetic surgery and process include Abbvie Inc., Bausch Health Companies Inc., Cynosure Technologies, Galderma SA, Merz Pharma GmbH & co. KgaA, Sinclair Pharma plc, Syneron, Teoxane Laboratories, Vital Esthetique, Johnson & Johnson among others are the key companies which recently working in the market for keep maintaining the governing position, leading the highest market growth, obtaining the competitive edge, registering the great value of market share and generating the highest percentage of revenue.

Based on our report analysis, ‘Cosmetic Surgery and Procedure Market: Current Analysis and Forecast (2021-2027)’ it was witnessed that the capacity of both surgical and nonsurgical cosmetic processes has augmented during the past few years. This can be accredited to growing disposable income, growing safety of the surgical processes, increasing faith of patients on such surgeries and increasing medical tourism.

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This report forecast revenue growth at regional, global and country level and delivers an analysis of the latest industry trends in each of the sub-segment from 2021-2027.

Based on procedure, the cosmetic surgery and procedure market is classified into surgical and non-surgical. Among these, the non-surgical category is projected to witness a proficient growth rate over the review period. Individuals are progressively adopting non-surgical procedures mainly due to the growing affordability of cosmetic procedures, augmenting the safety of surgeries, the existence of skilled surgeons, and long-lasting results.

For a well understanding of the market, the report makes available a detailed analysis of major regions and countries comprising North America (U.S., Canada, Rest of America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific) and Rest of World. During 2020, North America registered for a proficient market share. This is mainly owing to the growing cosmetic surgeries, high income, improved healthcare infrastructure, and implementation of cosmetic procedures such as liposuction, eyelid surgery, botulinum toxin, and hair removal treatment, around the region.

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Global Cosmetic Surgery and Procedure Market: Ken Research

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5 Key Insights on US$ 10 Bn Opportunity in Global Surface Disinfectant Market: Ken Research

Driven by Growing incidences of healthcare-associated infection, increasing product demand from non-healthcare industries, health clubs & gyms, and outbreaks of infectious diseases like Covid-19, the Global Surface Disinfectant is Forecasted to reach ~US$ 10 Bn by 2028 says Ken Research Study.

A surface disinfectant is a synthetic substance used to treat or sanitize the microorganism present on the surfaces such as walls, tabletops, floors, etc. Surface disinfectants help in reducing or eliminating the presence of pathogens, minimizing the risk of spreading bacteria along with maintaining hygiene. Furthermore, the Covid-19 outbreak and awareness to maintain sanitation driving the growth in this industry.

According to Ken Research estimates, the Global Surface Disinfectant Market – which grew from ~US$ 4 Bn in 2017 to ~US$ 6 Bn in 2022 – is expected to reach ~US$ 10 Bn opportunity by 2028. Ken Research shares 5 key insights on this high-opportunity Global Surface Disinfectant market from its latest research study.

1. World has Seen Accelerated Growth in the Surface Disinfectant Market Due to Covid-19 and the Awareness Among People to Maintain Sanitation

The outbreak of COVID-19 increased the need for surface disinfection and cleaning practices significantly. Since the outbreak in 2020, the virus spread very quickly to all parts of the world, infecting millions. All the known measures were being taken to curb the spread of the deadly virus, including disinfection and cleaning of surfaces. This increased the demand for the surface disinfectant to multiple folds. Many companies had to increase their production due to disinfectant’s high demand. Disinfection practices were vital in reducing COVID-19 virus contamination in non-healthcare settings, such as homes, offices, schools, gyms, publicly accessible buildings, faith-based community centers, markets, transportation, and business settings or restaurants. So, demand from non-healthcare settings also increased.

2. Global Surface Disinfectant Market is Driven by Growing Incidences of Healthcare-Associated Infections

The Global Surface Disinfectant Market is expected to witness strong growth during the forecast period, due to the rising demand for surface disinfectant products in hospitals & clinics. Increasing incidence of healthcare-associated infections and rising occurrences of chronic disorders are expected to propel the market growth. Surface Disinfectant products are frequently used in healthcare facilities as it maintains hygiene and prevents healthcare-associated infections. As per a study conducted by the U.S. Department of Health and Human Services, in every 20 diseases, one in the U.S. is a healthcare-associated Infection.

3. Most of the Surface Disinfectant Available in the market have Some Toxic Properties which create a Barrier to the Growth of the Surface Disinfectant Market.

Most of the chemical disinfectants currently available in the market have toxic properties. For example, sodium hypochlorite is an effective treatment against blood-borne pathogens but due to its highly corrosive and respiratory irritant nature, it is dangerous for cleaning personnel and building occupants because it is toxic when released into the environment and causes damage to many surfaces. In almost all surface disinfectant products volatile organic compound (VOC) amount is high which causes health issues to people when used frequently.

According to a study conducted by the National Library of Medicine, in the United States, Australia, the United Kingdom, and Sweden 15.7% of the general population, and 32.9% of asthmatics, reported health problems from being in a room after it has been cleaned by fragranced products.

4. Increasing Popularity of Biobased Surface Disinfectants

Biobased surface disinfectants are viewed as alternatives to their chemical counterparts owing to their non-toxic, biodegradable, and eco-friendly characteristics. The FDA approval to use biobased products in formulations of surface disinfectants is expected to create huge growth opportunities for market participants. Also, the increasing application scope of biobased surface disinfectants along with the high potential to replace chemical counterparts at economical levels is anticipated to create lucrative opportunities for the existing as well as new market participants. Biobased surface disinfectants have less impact on the environment.

5. North America is the Largest Region of the Global Surface Disinfectant Market owing to the Increase in Healthcare Spending

The pandemic has disrupted healthcare systems all over the world, with hospitals being overwhelmed due to the increasing influx of patients. Temporary hospitals are also being set up to deal with an increasing disease incidence. Hence, the spread of COVID-19 has spurred a surge in demand for cleaning and disinfection products due to the growing awareness about safety, hygiene, and health. Increasing healthcare expenditure in North America and an increase in the number of temporary hospitals are some of the major factors driving the demand and uptake of antiseptics and disinfectants.

As per the report of “Healthcare Facilities Today”, published in 2021 the United States will spearhead the growth of surface disinfectants in North America, accounting for maximum sales of surface disinfectants. Increasing healthcare spending will seal the dominance of the United States.

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Industrial Cleaning Disinfectant Market

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3 Key Insights on Competitive Landscape in Global Surface Disinfectant Market: Ken Research

Diverse Global Players Dominate the Market Holding the Majority Revenue Share Despite Presence of ~250 Competitors Comprising a Large Number of Country-Niche Players and Regional Players, finds a recent market study on Global Surface Disinfectant Market by Ken Research

A surface disinfectant is a synthetic substance used to treat or sanitize the microorganism present on the surfaces such as walls, tabletops, floors, etc. Surface disinfectants help in reducing or eliminating the presence of pathogens, minimizing the risk of spreading bacteria along with maintaining hygiene. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

Global Players that constitute about 10% of the Total Number of Competitors Hold the Largest Revenue Share While Regional Companies Also Have a Strong Presence

A comprehensive competitive analysis conducted during the Research Study found that the Global Surface Disinfectant market is highly competitive with ~250 players which include globally diversified players, regional players as well as country-niche players having their own niche in surface disinfectant products for specific segments. The large global players comprise about 10% in terms of the number of companies and hold the majority of the market revenue share followed by regional players. Most of the country-niche players are local suppliers of disinfectant products and sell their products in small shops or by direct selling method. Some of these who successfully evolve to capture some markets often get acquired by large global players seeking to grow and diversify quickly.

Leading Global Players' Ongoing Efforts To Provide Advanced Surface Disinfectant Product To A Variety of End-users Are Driving Their Revenue Growth From This Market

Detailed comparative analysis of key competitors available within the Research Study shows that global players such as Reckitt Benckiser Group PLC, SC Johnson Professional, Procter and Gamble, are highly focused on providing a significant number of surface disinfectant products that can be used across multiple end-user industries like hospital & Clinics, household, commercial facilities, educational institutions, etc. Furthermore, several companies and organizations are aggressively investing in R&D to improve product quality, introduce more products in spray form, and introduce biobased surface disinfectants.

• In March 2021, BASF signed a partnership agreement with Allied Carbon Solutions Co., Ltd. (ACS) Japan to strengthen its global position in bio-based surfactants and actives.
• In April 2021, Unilever partnered with LanzaTech and India Glycols to produce a surfactant made from industrial carbon emissions instead of fossil fuels.

 

The Ongoing COVID-19 Led to A Significant Increase in Demand for Surface Disinfectant Products Across the Globe. Even After the Pandemic Major Players are Developing and Launching New Products to Maintain their Market Share

In February 2021, P&G launched Microban 24, the new disinfectant brand in the UK, the product range offers protection against bacteria in homes, not only initially killing 99.9% of bacteria and select viruses, including COVID-19 virus and flu virus, but continuing to kill bacteria for up to 24 hours, even after multiple touches. In April 2020, ITC launched its product Savlon Surface Disinfectant Spray which claims that spray kills 99.99% of germs around the home, including viruses, bacteria, molds & fungi.

Increased Regulations of Regulatory Bodies and Governments to Maintain Hygiene for Covid-19 and Major Players’ Interest in Surface Disinfectant Market Led to Industry-Wide Developments, Acquisitions, And Deal-Wins

• On 31^st March 2022, World Health Organization (WHO) updated its regulation regarding non-healthcare settings like sodium hypochlorite may be used at a recommended concentration of 0.1% or 1,000ppm. Alcohol at 70-90% can also be used for surface disinfection.
• Since the Pandemic Health Canada has published a list of hard-surface disinfectants that are likely to be effective for use against (COVID-19). This list is updated regularly.
• In March 2020, Chimcoplex received approval from the Ministry of Health, Romania, for the production of 1.25% sodium hypochlorite. This is further expected to support the surface disinfectant manufacturers for production and thus drive the growth of the market segment.

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Global Hospital Disinfectant Products Market

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5 Key Insights on US$85 Bn Opportunity in Global Biomarkers Market: Ken Research

Driven by the rising prevalence of chronic and neurodegenerative diseases and the growing popularity of remote technologies such as medical wearables, the Global Biomarkers Market is Forecasted to Cross US$85 Bn by 2028 says Ken Research Study.

A biomarker, also known as a biological marker, is an objective measure used to indicate that a biological process in the body has occurred or is currently occurring. While some biomarkers are used to demonstrate that the body has been exposed to a chemical, toxin, or other environmental hazards, the majority of biomarkers are associated with medicine. Several biomarkers are derived from simple observations made during a routine medical appointment, such as blood pressure or body composition. Other biomarkers are based on laboratory tests of blood, urine, or tissues, and some can detect changes at the molecular and cellular level by examining genes or proteins.

According to Ken Research estimates, the Global Biomarkers Market – which grew from around US$ 27 Bn in 2017 to nearly US$40 Bn in 2021 – is expected to grow further into a more than US$85 Bn opportunity by 2028 - “Ken Research shares 5 key insights on this high opportunity market from its latest research study”

1.   Biomarkers have seen Accelerated Growth after Several Proactive Interventions and Rising Funding for the Diagnosis of Multiple Disorders and Diseases.

The Global Biomarkers Market is expected to witness strong growth during the forecast period, owing to increasing favorable government initiatives concerning drug development or research, along with soaring digital healthcare funding. For instance, in July 2022, the National Institute of Neurological Disorders and Stroke (NINDS) stated that its Biomarker Program, which was initiated in 2012 to expedite the discovery of exploring new diagnostic and progression biomarkers for Parkinson's Disease, nowadays is focusing on increasing the efficiency and effectiveness of neurotherapeutic clinical research by supporting rigorous biomarker advancement and validation.  In addition, to achieve such a goal, the program:

• Promotes stringent biomarker identification and validation through funding opportunities.
• Facilitates the creation of potential resources primarily directed at filling gaps in the biomarker testing process.

Furthermore, on November 2, 2021, Members of the European Platform for Neurodegenerative Diseases (EPND), which was established by the EU for the storage and analysis of high-quality clinical and biological samples and data collections, announced that they will embark on an initiative to establish a unified platform for efficient sample and data exchange, leveraging, and connecting existing European research infrastructures to boost the discovery of biomarkers, new diagnostics, and treatments for people with neurodegenerative diseases such as Alzheimer's and Parkinson's.

2.   The Rising Prevalence of Chronic and Neurodegenerative Diseases and Growing Popularity of Remote Technologies are Major Growth Drivers for Global Biomarkers Market.

The increasing prevalence of chronic and neurodegenerative diseases, including Neurodegenerative disorders, Alzheimer’s disease (AD), and Parkinson’s disease (PD) due to an aging population, has led to increasing demand for improved drug development or research to effectively combat these diseases.

• For instance, according to Alzheimer's Disease Association, a U.S.-based non-profit organization, presently nearly 6.2 million individuals in the U.S. have Alzheimer's disease, a progressive neurologic disorder that leads the brain to shrink and brain cells to die.
• According to Parkinson’s Foundation, a U.S.-based non-profit organization, nearly a million Americans have Parkinson's disease (PD), a brain disorder that leads to unrestrained movements such as wobbling, stiffness, and difficulty with balance and coordination, with the number expected to increase to 1.2 million by 2030. In addition, over 10 million people worldwide are currently affected by Parkinson's disease (PD).

Furthermore, the rising cost of drug development, the proliferation of wearable devices in healthcare, and rising smartphone penetration have all contributed to the increased demand for digital biomarkers (DBMs). In addition, multiple digital healthcare applications are available on Google Play and iOS that are allowing users to track biological functions such as sleep, heartbeat, and movement, thereby supporting the growth of the biomarker market.

3.   Digital Diagnostics and Digital Therapeutic Medical Devices have Emerged as an Immersive Opportunity for Healthcare Innovation.

The majority of the ongoing evolution in the life sciences industry is being driven by technology. The rise of digital health is likely to be a defining aspect of the industry in the forthcoming years. The influence of digital health and artificial intelligence (AI) will extend beyond even innovative products like wearables and diagnostics, as well as new processes like decentralized clinical trials. AI technologies will become more widely accessible and affordable with the introduction of cloud-based, off-the-shelf AI tools. Furthermore, the emergence of wearables and mobile health (mHealth) technologies will enable more efficient collection and analysis of digital biomarkers, and provide valuable data for AI systems applications.

4.   The Drug Discovery & Development Segment is Likely to Grow Significantly during the Forecasted Period.

The extensive R&D initiatives for the development of therapeutic, and the ability of biomarkers to foresee drug efficacy more effectively with its high-speed approval process, are fuelling its demand in drug discovery and development. The ongoing covid-19 pandemic also strengthens the utilization of biomarkers in drug discovery and development, due to increased investment and advancement in innovative therapeutics and vaccines across a wide range of disease aspects. As per industry estimates, the number of clinical trials has witnessed steady growth from 2015 to 2021, including a jump in 2021 resulting from COVID-19 vaccination trials.

5.   North America is the Pioneer and Largest Market of Biomarkers Owing to the Increased Adoption of Advanced Technologies, a Strong Base of Healthcare Facilities, and Rising Investments from Key players in the Development of Advanced Devices.

The growth of biomarkers in North America is being attributed to the rising burden of chronic disease, notably in the U.S., growing consumer awareness, proactive government interventions, technology advancements, and improvements in healthcare infrastructure. Furthermore, the increased prevalence of precision/personalized medicine treatments is also contributing to regional growth. For instance, according to the Personalized Medicine Coalition (PMC), a non-profit educational and advocacy group which is dedicated to promoting the understanding and adoption of personalized medicine concepts, services, and products to benefit patients and the healthcare systems, the number of personalized medicines on the market in the United States has increased from 132 in 2016 to 286 in 2020.

Digital biomarkers, which are retrieved using portable, wearable, implantable, or digestible digital devices, have also emerged as immersive tools for advancing precision/personalized medicine and supporting clinical testing.

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Global Hospital Disinfectant Products Market

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3 Key Insights on US$ 100 Bn Opportunity in Global Polyurethane Market: Ken Research

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Driven by the Rising Demand for Strong and Lightweight Materials in the Construction, Electronics, and Automotive Sectors, the Global Polyurethane Market is forecasted to Cross US$100 Bn by 2028, says Ken Research Study.

Polyurethane is made up of organic units connected by carbamate linkages and does not melt when heated. It is small in size, doesn't corrode easily, is elastic by nature, and has a lot of strength. PU is typically used in place of paper, glass, and metals. Polyurethane's high mechanical strength enables it to serve as insulation and as a substitute for metal in automotive parts.

Polyurethane demand is anticipated to increase throughout the forecast period due to rising building insulation demand brought on by environmental concerns. According to Ken Research estimates, the Global Polyurethane Market – which grew from around US$55 Bn in 2017 to nearly US$75 Bn in 2022 – is expected to grow further into a more than US$100 Bn opportunity by 2028- “Ken Research shares 3 key insights on this high opportunity market from its latest research study”.

1.      Rise In Demand For Sustainable Insulation And Its Material Properties Drives The Growth Of Polyurethane Market.

The Global Polyurethane Market is expected to witness steady growth during the forecast period, driven by the rising demand for strong, lightweight goods in the construction, electronics, and automotive sectors. Throughout the projection period, demand for polyurethane is also anticipated to increase with the surging demand for sustainable building insulation.

Moreover, polyurethane insulation is customizable. Storage apparatuses, such as specific refrigerators, where COVID-19 vaccine vials can be kept, are prepared using rigid polyurethane foams. These are deployed in the global shipment of vaccines as well.

2. The Market Is Dominated by Rigid Foam, Which Accounts for More Than Half of The Revenue Share and Continues To Hold This Position Throughout The Forecast Period.

Rigid polyurethane foams are high-performance closed-cell polymers which can be used in a variety of end-user industries, including transportation, packaging, industrial insulation, and appliances, thanks to their structural stability. It aids the creation of thermally insulating products by product designers. Because they offer superior mechanical strength, better heat resistance, and sound-insulating properties, rigid foams are well suited for difficult conditions and extreme weather.

Due to rapid industrialization, China, India, and Indonesia dominate the Asia Pacific (APAC) market for stiff PU foams. The growth of the furniture and construction industries, as well as the presence of significant automotive OEMs, drive the rigid foam market in APAC. It is anticipated that the government's assistance in weatherizing low-income homes and meeting transitional standards for green buildings will further propel the demand for stiff PU foam in insulation applications.

3. Along With the Building and Construction Market, the Furniture Market Plays a Key Role in Boosting Demand for Polyurethane Products

Due to its excellent strength-to-weight ratio, insulating properties, durability, and adaptability, polyurethane is frequently utilized in building and construction applications. Oxford Economics estimates that between 2020 and 2030, worldwide construction production will increase by 42%, or US$4.5 trillion, reaching US$15.2 trillion from US$10.7 trillion in 2020. Over the ten years leading up to 2030, construction will have an average annual growth of 3.6%, outpacing both manufacturing and services. In 2022, the furniture market is anticipated to generate almost US$500 billion in revenue. The market volume for Furniture is predicted to cross US$720 billion by 2025, with revenue forecast to expand at more than 13% CAGR from 2022 to 2025.

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Global Polyurethane Market

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3 Key Insights on US$ 60 Bn Opportunity in Global Immunoassays Market

 

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Driven by the increasing prevalence of chronic diseases and infectious diseases along with the outbreak of the COVID-19 pandemic, the Global Immunoassays Market is Forecasted to Cross US$ 60 Bn by 2028 says Ken Research Study.

Immunoassays are bioanalytical techniques that use the precision of an antigen-antibody reaction to detect and quantify analytes in biological samples such as urine, blood, saliva, tissues, and cells. Such techniques are commonly used in clinical diagnostics, drug discovery, drug monitoring, and food testing.

The proliferation of digital healthcare and smartphone/smart gadget-based immunoassays (IAs) readers have contributed to the development of futuristic IA formats for point-of-care testing (POCT) applications, including antigen and antibody testing, drug screens, and glucose testing. Such IA formats, along with digital healthcare capabilities, will witness a considerable rise in the forthcoming years that will reshape healthcare provision and clinical diagnostics. Present constraints in digital healthcare, including data security, and encryption will be acknowledged alongside the growing trend toward increased use of cloud computing.

According to Ken Research estimates, the Global Immunoassays Market – which grew from around ~US$ 30 Bn in 2017 to nearly ~US$ 40 Bn in 2021 – is expected to grow further into a more than ~US$ 60 Bn opportunity by 2028. Ken Research shares 3 key insights on this high opportunity market from its latest Research Study.

1. Increasing Prevalence of Chronic and Infectious Diseases Worldwide is Driving the use of Immunoassays Techniques in Disease Diagnostics.

The growing geriatric population worldwide, who are more exposed to chronic and infectious diseases, including arthritis, and dementia is propelling the Immunoassays market. In addition, the increasing prevalence of cancer, cardiovascular diseases, and autoimmune diseases, such as type 1 diabetes, and nephrological diseases is widening the use of immunoassay techniques in diagnostic testing.

• For instance, according to Scientific American, an American science magazine that covers science, health, and social justice issues, several autoimmune diseases affected nearly 4.5% of the world's population in 2021.

• According to the World Health Organization (WHO), a United Nations agency responsible for global public health, nearly 18 million people die every year as a result of cardiovascular diseases.

2. The Infectious Diseases Segment Accounted for the Largest Share in the Immunoassays Market in 2021.

The rising prevalence of infectious diseases, particularly since the Covid-19 pandemic, is driving up demand for Immunoassays testing for infectious diseases. The ongoing Covid-19 pandemic has disrupted more individuals’ livelihoods on a global scale, and it continues to be a source of concern and threat to people who are exposed to newly emerging and evolving infectious diseases. Aside from the Covid-19 pandemic, infectious diseases continue to be a major cause of death and suffering around the world. Diseases like malaria and dengue fever are yet expanding their global reach. Other diseases, such as common pneumonia, diphtheria, human immunodeficiency virus (HIV)/AIDS, influenza, and tuberculosis, are prevalent in almost every country.

3. North America has Seen Accelerated Growth in Immunoassays Market, Owing to the Increased Demand for Technologically Advanced Products.

Increased demand for facile diagnostics in North America, notably in the U.S. has boosted the advancement of immunological diagnostics (IDx) that assess the presence of viral surface antigens using an antibody (virus IDx), as these tests produce faster results than molecular diagnostics (MDx). Furthermore, the Covid-19 outbreak, like other highly contagious infectious diseases, such as severe acute respiratory syndrome (SARS), and Ebola virus disease, prompted the rapid development and adoption of diagnostics in North America.

• For instance, according to the Multidisciplinary Digital Publishing Institute (MDPI), a Swiss publisher of open access scientific journals, the United States and China dominated the diagnostic market in 2020, accounting for 49.7% of diagnostics developed.

• In addition, the global development activity of molecular diagnostics (MDx) and immunological diagnostics (IDx) changed dramatically as the pandemic evolved. During the Recovery Phase, from August to October 2020, a higher proportion of IDx emerged, accounting for an average of 62.7% of diagnostic development.

This upsurge in immune-based detection solution activities appears to correlate with disease severity and the inability of molecular-based diagnostics, such as RT-qPCR to detect recent infections. Some countries experienced such surges during the pandemic's first wave, while others experienced them during the second wave, priorities shifted to continuous monitoring strategies to better understand the disease's geographical spread and severity in the population. Furthermore, the large number of Covid-19 MDx and IDx technologies developed in the U.S. can be contributed to their larger market share and a large number of diagnostic companies based in North America, implying a greater opportunity for the development of solutions to diagnose the virus.

For more information on the research report, refer to the below link:

Rapid Chromatographic Immunoassay Test Market: Ken Research

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3 Key Insights on Competitive Landscape in the Global Immunoassays Market

 

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Despite the Presence of about ~500 Competitors Comprising a Large Number of Country-Niche Players, Regional Players and, Global Players, finds a recent market study on Global Immunoassays Market by Ken Research

Immunoassays are bioanalytical techniques that detect and quantify analytes in biological samples, such as urine, blood, saliva, tissues, and cells by utilizing the precision of an antigen-antibody reaction. Clinical diagnostics, drug discovery, drug monitoring, and food testing are all common applications for such techniques - “Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study”

Global Players that Constitute ~5% of Total Number of Competitors Hold Largest Revenue Share, While Regional Companies Hold ~20% Share in Terms of the Total Number of Players in the Market.

A comprehensive competitive analysis conducted during The Research Study found that the Global Immunoassay market is highly competitive with ~500 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in advancement in medical technology for multiple end-user industries. The majority of the top global biopharmaceutical companies, including Abbott Laboratories, F. Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, and Danaher Corporation, maintained their leading positions in the forecasted period. The majority of players are actively focusing on advancements in immunoassays technology or methods, including:

• The development of multiplexed immunoassays (MIAs) to perform various distinct assays in a single tube using the same sample during the same time.
• Automation advancements for homogeneous systems/homogeneous enzyme immunoassays to high output and high-performance heterogeneous systems/heterogeneous enzyme immunoassays.

Some of these successfully morph to advance pharmaceutical analytical methods such as disease diagnosis, therapeutic drug monitoring, and bioanalytical/biochemical methods to identify the concentration of a particular chemical, enabling them to grow.

Leading Global Players’ Ongoing Efforts to Provide Pharmaceutical Analytical and Bioanalytical Solutions to End-User Industries, Particularly Following the Global Outbreak of the COVID-19 Pandemic, Are Driving Revenue Growth in This Market.

Detailed comparative analysis of key competitors available within The Research Study- shows that numerous biotechnology, and pharmaceuticals companies such as Radiometer, Diasorin, Bio-Rad laboratories, and more are highly focused on providing a significant number of healthcare solutions and advanced techniques that can be used across end-user industries to help better understand processes of viral, bacterial, or parasitic infection and how the immune system is sometimes interfered with. Furthermore, numerous companies and organizations are aggressively investing in advanced computation, data analytics, and increased R&D activities.

• In May 2022, Radiometer, a Danish company that develops, manufactures, and markets solutions for blood sampling, blood gas analysis, endovascular monitoring, immunoassay testing, and related IT monitoring systems, announced that it will expand production and R&D capabilities at its current Turku facility, while also widening its global immunoassay business.
• In April 2021, DiaSorin, an Italian biotechnology company, announced its partnership with Lumos Diagnostics, an Australian provider of rapid point-of-care diagnostics solutions, to launch the LIAISON IQ, a portable and cloud-connected immunoassay POC reader, along with a test to detect specific IgG antibodies against SARS-CoV-2 Spike human protein blood capillaries from a throat swab.
• In September 2021, Bio-Rad Laboratories Inc., a U.S.-based research company devoted to biotechnology research, announced the introduction of the Bio-Plex Pro Human IgA and IgM SARS-CoV-2 immunoassay panels to identify IgA and IgM antibodies against four SARS-CoV-2 antigens.

The Ongoing COVID-19 has noticeably accelerated antibody testing worldwide, owing to the development and bioprocessing of COVID-19 vaccines and biotherapeutics.

The advent of the COVID-19 pandemic has accelerated the efforts to develop diagnostic tests to assess infectious diseases/viral infections and antibody responses, as well as vaccines and therapeutic applications. Consequently, the availability of laboratory assays that detect Covid-19 antibodies in human serum samples was essential for comprehending Covid-19 immune responses, assessing the virus's effect on an individual’s health, and assisting in the development of effective vaccines and therapeutics.

The global need for company and governmental sponsors to discover a suitable vaccine or therapeutic for Covid-19 has increased dramatically as the pandemic entered its extreme phase in 2020. Most international research authorities had also adopted an expedited operation or accelerated approval for COVID-19-related testing/antibody testing worldwide to ensure that they are treated as a priority. Furthermore, the ongoing COVID-19 pandemic has boosted the demand for infectious detection methods with low concentration levels and quick results. Despite significant advancements in methodologies and devices, immunochemical methods remain preferential for mass testing in the absence of specialized laboratories and highly qualified professionals. Microplate enzyme-linked immunosorbent assay (ELISA) with photometric detection and lateral flow immunoassay (LFIA) with visual results assessment are the two most commonly used immunoassays.

Increasing Government Initiatives, Strategies, and Investments in Pharmaceutical, and Biotech R&D, Notably Supporting Antibody Detection is Propelling the Immunoassays Market Growth.

Prior to the Covid-19 pandemic, government-led investment and involvement in life sciences were relatively limited worldwide, with the industry relying primarily on private funding. The pandemic led governments to concede that the structure needed to be changed. Since 2020, several governments across countries have raised funds for expensive premature vaccine development and production capacity expansion, as well as other critical pharmaceutical activities.

• In September 2021, the U.S. Government (USG) empanelled a team of foremost virologists, immunologists, statisticians, and clinical trialists to identify the scientific and programmatic goals, and implement stringent testing, and sampling procedures.

• In June 2021, Ubio Biotechnology Systems Pvt. Ltd., an Indian biotechnology company, developed the Industry Research Assistance Council (BIRAC) supported product 'SENSIT Rapid COVID-19 Ag kit' underneath the aegis of the COVID-19 Research Consortium for the rapid screening of SARS CoV-2 Nucleocapsid Protein with an assay time of 15 minutes.

In addition, nasopharyngeal swabs are used to collect samples from the suspected individual. This Indian Council of Medical Research (ICMR)-approved kit is a chromatographic immunoassay that allows healthcare personnel to read the test result optically.

For more information on the research report, refer to the below link:

Rapid Chromatographic Immunoassay Test Market: Ken Research

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