The Philippines Clinical Laboratory Market is growing owing to growing economy, technological advancements and various new players coming up and expanding their services: Ken Research

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Focus on Rapid Urbanization, growing GDP, Ease of doing business, increasing healthcare budget and Improvement in quality of life are major factor contributing towards development of Clinical Laboratories Market in Philippines.

Poor Internet and lack of resources: Philippines is a country with one of the slowest internet speeds in the world. Additionally, the cost of internet is also high in Philippines. A 2020 Digital Quality of Life Index ranked the Philippines 82nd in terms of internet affordability out of 85 countries. And there is huge scope of development of health infrastructure. There are new technologies available globally which automates various procedures and increases the capacity of a laboratory. During Covid-19, a lot of patients couldn’t be tested at the right time due to dearth of covid testing kits.

Brain Drain and Lack of Affordability: Filipinos are well educated and skilled but a lot of health workers migrate to other countries which leads to dearth of health workers in Philippines. And Universal Health Policy is still a blank box for many people. Various healthcare tests are still very expensive for people that they prefer to not get tested as cost of getting sick is high and people can’t afford it.

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E-Health and Technological Advancements: E-Health is emerging in Philippines especially after the pandemic. More number of patients can be catered through online mode. It reduces paper work, errors and makes it easier to create awareness. And Healthcare industry in Philippines is gradually adopting advance technologies to automate the procedures and to diagnose and treat complex health issues.

Regulation of Health Professionals: Philippines is known for one of the best suppliers of quality health workers who are highly skilled professionals. There are separate government bodies which are responsible for training and professional development of health professionals. The Commission on Higher Education (CHED) prescribes standards for quality health science education and the health science curriculum, and regulates public and private higher education institutions in the country. The Professional Regulation Commission (PRC) is responsible for promoting credible licensure examinations of health professionals and ensure effective regulation of professional practice.

Analysts at Ken Research in their latest publication “Philippines Clinical Laboratory Market Outlook to 2027F- Driven by increasing awareness, widening customer base, digitalization and increasing corporate requirements for clinical testing” by Ken Research observed that Clinical Laboratory market is an emergent healthcare market in Philippines at a growing stage from the economic crisis after pandemic. The rising government policies and demand for medical attention, health consciousness among the population along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 8.99% CAGR during 2022-2027F owing to the newer delivery models and new government policies.

Key Segments Covered in the report: -

Philippines Clinical Laboratories Market

By Ownership

• Private
• Public

By Structure-Revenue

• Organized Labs
• Unorganized Labs

By Payor- Independent Labs

• Out of Pocket
• Private Health Insurance
• Government

By type of reference

• Doctor Referrals
• Walk-Ins
• Corporate Clients
• External Referrals
• Online Referrals

By Number of Tests- Independent Labs

• Routine
• Esoteric
• Non-Laboratory

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By Institutional Character

• Institutional
• Non-Institutional

By Level of services

• Primary
• Secondary
• Tertiary
• Limited

Number of Labs- By Region

• Region 1 (ILOCOS)
• Region 2 (CAGAYAN VALLEY)
• Region 3 (CENTRAL LUZON)
• Region 4A (CALABARZON)
• Region 4B (MIMAROPA)
• Region 5 (BICOL)
• Region 6 (WESTERN VISAYAS)
• Region 7 (CENTRAL VISAYAS)
• Region 8 (EASTERN VISAYAS)
• Region 9 (ZAMBOANGA PENINSULA)
• Region 10 (NORTHERN MINDANAO)
• Region 11 (DAVAO)
• Region 12 (SOCCSKSARGEN)
• Region 13 (CARAGA)
• NCR
• CARR
• BARMM

Key Target Audience

• Clinic Service Providers
• Clinic Equipment Distributors
• Clinic Equipment Manufacturers
• Clinics
• Hospitals
• Healthcare Companies
• Pharmaceutical Companies
• Tourism Agencies
• Government Bodies & Regulating Authorities
• Market Research and Consulting Firms

Time Period Captured in the Report:

• Historical Period: 2017-2022P
• Base Period: 2022P
• Forecast Period: 2023F-2027F

Companies Covered:

• Hi- Precision
• The Medical City
• Medicus Diagnostics
• Singapore Diagnostics
• New World Diagnostics
• Medi card
• Aventus Medical Care

Key Topics Covered in the Report

Pre-covid Health statistics of Philippines

Infectious Diseases in Philippines

Government Initiatives in Healthcare

Covid Impact and Responses

Cross Comparison of ASEAN Countries

WHO International Health Regulation capacity score: Laboratory

Categorization of Non-Hospital based Laboratories and number of units in Philippines

Evolution of Clinical Laboratory Industry

Ecosystem of Philippines Clinical Laboratory Market

Value Chain of Clinical Laboratory Industry

Market size of Philippines Clinical Laboratory Industry, 2017 - 2022

Market Segmentation, 2022P

Trends and Developments in Philippines Clinical Laboratory Market

Growth Drivers in Philippines Clinical Laboratory Market

Issues and Challenges in Laboratory Industry

Government Regulations in Laboratory Industry

Decision making Parameters of Customers

SWOT Analysis

Next Generation Laboratory Technology Trends

Competition Scenario of Philippines Clinical Laboratory Market

Market share of Major players

Future Outlook and Projections, 2022-2027E

Analyst Recommendations

For more insights on the market intelligence, refer to the link below: -

Future Outlook of Philippines Clinical Laboratories Market

Related Reports BY Ken Research: -

Indonesia Clinical Laboratory Market Outlook to 2026F

Vietnam Clinical Laboratories Market Outlook to 2027F

The Clinical Laboratories Market in Vietnam is growing owing to the Covid-19 pandemic, foreign investment and technological advancement: Ken Research

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Focus on Increasing penetration of Private Health Insurance and Change in Consumption Habits Are Major Factor Contributing towards development of Clinical Laboratories Market in Vietnam.

Lack of Awareness and No commercialization of Clinical Labs: The Vietnam Healthcare market is still largely traditional. The regular check-ups and lab tests are not prevalent, the patients only have tests conducted when recommended by the doctor. Private firms like Diag Laboratories are trying to create that awareness by educating patients and health professionals the benefits of regular diagnostic tests. The Clinical Labs across Vietnam are not very commercialized. They are not aggressively promoted or marketed to the customers or patients. There are not many marketers present in the Healthcare space. The private firms lack specialized marketers to promote their services.

Government Restraints: Ministry of Health (MoH) Vietnam has imposed certain requirements for setting up a laboratory including a space of 20 square meters, certain qualified technician and authorized equipment which might be difficult to obtain. All services and tests have to be approved by the Ministry which might be a lengthy process.

Growth in non-communicable disease and chronic diseases: Shift in disease profile, thus changing the level of interaction between doctors and patients from episodic to rhythmic. Increasing incidence of communicable and non-communicable diseases, such as cardiovascular disease, cancer and diabetes, are expected to drive the clinical laboratory testing market.

Rising disposable Income and Technological Advancements: Rising personal disposable income has led to higher spending on healthcare services including clinical testing. Further there has been an increase in middle to high income earners seeking preventive health check-ups post the pandemic. The Vietnamese population has become receptive to new technologies in healthcare. With Genetic Analysis Test introduced, a lot of people are trying it out and with further advancement, the customers might grow.

Analysts at Ken Research in their latest publication “Vietnam Clinical Laboratories Market Outlook to 2027F- Driven by Private Hospitals driving the future of Healthcare and Clinical Tests in Vietnam” by Ken Research observed that Clinical Laboratories market is an emergent healthcare market in Vietnam at a growing stage from the economic crisis after pandemic. The rising government policies and consumption habits of Vietnamese patients, growth of Health-Tech and digital adoption along with rise of new technologies is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 10.4% CAGR during 2022-2027F owing to increasing awareness, rising disposable income and new government policies.

Key Segments Covered in the report

Vietnam Clinical Laboratories Market

By Type of Labs

Independent Labs

Private Hospital Labs

Public Hospital Labs

By Independent Labs

Organized Labs

Unorganized Labs

By Private Hospital Labs

In-House Labs

Third Party Tie-Ups

By End-User

Corporate Clients

Walk-Ins

Doctor Referrals

Online Referrals

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By Payor

Out-of-Pocket

Corporate Insurance

Private Insurance

Universal Health (Vietnam Govt.)

By Type of Tests

Pathology

Radiology

By Region

Northern

Southern

Central

By Age

0-20

20-40

40-60

Above 60

Key Target Audience

Clinic Service Providers

Clinic Equipment Distributors

Clinic Equipment Manufacturers

Clinics

Hospitals

Healthcare Companies

Pharmaceutical Companies

Tourism Agencies

Government Bodies & Regulating Authorities

Market Research and Consulting Firms

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Time Period Captured in the Report:

Historical Period: 2016-2022P

Base Period: 2022P

Forecast Period: 2023F-2027F

Companies Covered

Medic-Lab

Diag Laboratories

Chemedic Joint Stock Company

Labo TH Vietnam

FV Hospital

HONG NGOC

Vin Mec

Omron

Abbott

Terumo

Siemens

Key Topics Covered in the Report

Cross Comparison of Clinical Laboratories Market in Vietnam with Other Countries

Ecosystem of Clinical Laboratories Market in Vietnam

Evolution of Independent Clinical Laboratories Market in Vietnam

Value Chain of Clinical Laboratories Market in Vietnam

Market Size of Clinical Laboratories Industry in the Vietnam on the basis of Revenue, 2017-2022P

Market Segmentation of Clinical Laboratories Market in Vietnam, 2022P

Trends and Developments in Vietnam Clinical Laboratories Market

Key Challenges in Vietnam Clinical Laboratories Market

SWOT Analysis: Vietnam Clinical Laboratories Market

Growth Drivers of Vietnam Clinical Laboratories Market

Impact of Covid-19 on Vietnam Clinical Laboratories Market

Vietnam Clinical Laboratory Setup Procedure

Next Generation Laboratory Technology Trends

Competition Scenario for Vietnam Clinical Laboratories Market

Market Positioning Analysis for Clinical Laboratories Market in Vietnam

Market and Competitor Analysis by comparing Industry Growth

Pricing Analysis of Market players

Future Outlook and Projections, 2023E-2026E

Analyst Recommendations

For more insights on the market intelligence, refer to the link below:-

Vietnam Clinical Laboratories Market

Related Reports By Ken Research:-

Philippines Clinical Laboratory Market Outlook to 2027F

Indonesia Clinical Laboratory Market Outlook to 2026F (Second Edition)

Global Mental Wellness Market Outlook, and Revenue Forecast 2022-2028: Ken Research

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Market Overview

Positive feelings or the absence of mental diseases are two ways to define mental well-being or mental well-being. A variety of diverse kinds of mental illnesses, include bipolar disorders, anxiety, despair, PTSD, and eating disorders. Mental well-being, on the other hand, is linked to positive feelings like happiness, joy, and hope as well as optimal brain function. Emotional, behavioral, and physical health are all aspects of mental wellness. A healthy mind promotes productive work. One of the most important determinants of mental wellness is the capacity to manage daily stress. How someone thinks, behaves, makes decisions, and manages relationships can all be impacted by overall mental health.

According to Ken Research Analysis, the Global Mental Wellness Market was valued at ~US$ 75 billion in 2017. The market for mental wellness will be driven by the increased prevalence of mental illnesses/disorders, such as depression, anxiety, eating disorders, and others, as a result of busy lifestyles, poor diets, a lack of physical activity, and excessive work hours in today's society. The aging of the elderly population is another factor contributing to the increase of people with mental health issues.

It is estimated to be ~US$ 100 billion in 2022 and is expected to reach a market size of ~US$ 150 billion by 2028 growing at a CAGR of ~6% during 2022-2028.

• The mental wellness market will develop as a result of more government initiatives and rules supporting mental health, more social media influence, and growing public awareness of the value of mental health.
• With bringing about a new era of specialized education and solutions that cater to each individualized well-being through AI, mental wellness has undergone a major shift. Without using a lot of resources, using AI helps increase people's well-being. It can also aid in avoiding several health obstacles by inciting behavioral change after studying personality traits and behaviors.
• The market for mental wellness is restricted by a variety of factors, including constrained access to mental health providers, a lack of skilled mental health care professionals, and a shortage of general community awareness of treatment options.
• The COVID-19 pandemic and strict regulations imposed by various governments have affected people's pre-existing mental health symptoms and led to relapses everywhere, which is boosting the market's growth along with the rising demand for hospital services brought on by the rising number of patients who require mental health solutions to improve self-care.

Scope of the Report

The Global Mental Wellness Market is segmented into By Disorders, Types, Age Groups, and Services. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion.

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Key Trends by Market Segment

By Disorder - The Depression segment dominated the market in 2021 since depression is a key factor in the overall global burden of disease and a primary cause of disability worldwide.

• According to the World Health Organization (WHO) in September 2021 that an estimated 280 million individuals around the world suffer from depression, which affects 3.8% of the population overall, including 5.0% of adults and 5.7% of those over the age of 60.
• Social, psychological, and biological variables interact in a complicated manner to cause depression. Depression is more prone to occur in people who have experienced catastrophic circumstances, such as unemployment or bereavement. Depression can exacerbate an individual's current situation and the depression itself by increasing stress and dysfunction.

By Type - The Senses Spaces & Sleep segment accounted for the highest market share in 2021 as it includes services, items, and designs that emphasize the senses and the mind-body link, raising awareness of how strongly environmental stimuli affect a person's stress levels, mood, and sleep.

• The vast majority of sleep- and sleep-environment-optimizing solutions are focused on improving sleep, including accessories, smart beds, wearables, monitors, apps, sleep retreats, and nap cafés.
• To ensure restful sleep, a calm mood, and optimal sense function, a variety of sleep and sleep environment optimization devices are utilized, including trackers, smart beds, sleep accessories, wearables, sleep applications, sleep retreats, and nap cafes.

By Age Group – The adult segment accounted for the highest market share in 2021 owing to the Adult’s experience in multiple phases of development from early adulthood to late adulthood, such as obtaining personal and financial independence, success, recognition, and security.

• Extreme fear or worry, feelings of deep sadness or emotional numbness, abrupt mood changes, staying away from friends and social situations, changes in eating habits, substance abuse, trouble concentrating, changes in sleeping habits, and suicidal ideation are all symptoms of mental trauma in young adults.
• According to the Centers for Disease Control and Prevention in April 2021 stated that Adults with symptoms of an anxiety or depressive condition now make up 41.5% of the population, up from 36.4%

By Service - The Inpatient Hospital Treatment Services segment accounted for the highest market share in 2021 due to a growth in the prevalence of mental illnesses, a larger patient population, and a large number of patients using mental health interventions to improve self-care.

• The prevalence of mental disorders is rising, there are more patients, and many patients are employing mental health interventions to improve self-care, which is fuelling the segment's revenue growth.
• The need for inpatient hospital treatment services is increasing due to a number of benefits, including the availability of round-the-clock care in both private psychiatric hospitals and the mental units of regular hospitals.

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By Geography: North America accounted for the largest market share among all regions in 2021, owing to the presence of major Mental Wellness therapies and treatment organizations like Acadia Healthcare, Behavioral Health Network, Inc., CVS Health, and many more.

• As more individuals are adopting cutting-edge technologies and because both healthcare experts and those working in the corporate sector in a developed country like USA are becoming more conscious of the importance of mental health.
• The region's mental wellness market is growing as a result of the development of activities in the area, including a sharper focus on creating innovative services and the presence of key companies. Additionally, as a result of the rise in smartphone and tablet usage, people are stepping up the attempts to improve overall mental health.

Competitive Landscape

• The Global Mental Wellness Industry is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Mental Wellness therapies and treatments. Global players constitute ~15% of competitors, while country niche players represent the largest number of competitors. The major players in the market for mental wellness have shifted the attention to bio-based materials for product manufacturing and are launching significant strategies like mergers and acquisitions and partnerships with national and international businesses to broaden the organization’s product portfolios and increase its market share worldwide.
• Some of the major players in the market include Acadia Healthcare, Amare Global, Ascension, Behavioral Health Network, Inc., CVS Health, CareTech, Headspace Inc., Promises Behavioral Health, Pyramid Healthcare Inc., Universal Health Services, and others.

Recent Developments Related to Major Players

• In January 2022, Headspace Health acquires Sayana, an AI-powered mental health, and wellness company.
• In October 2021, Headspace and Ginger have completed their merger to create a US$3 billion mental health enterprise.

Conclusion

The Global Mental Wellness Market is anticipated to grow significantly during the projected period (2022-2028) owing to the significance and widespread acceptance of mental health disorders. Instead of simply living a healthy lifestyle that may have a positive impact on overall wellness, the expanded concept of mental wellness in the current day aims to give people a sense of control over their health and happiness. Vendors in the market are creating programs that treat underlying reasons including lack of sleep and challenges at home instead of only tertiary remedies because mental health concerns are underreported owing to the stigma attached to them. The most recent study is focused on connecting cognitive behavioral therapy with smartphones to solve these challenges. Though the market is competitive with ~500 participants, country-niche players control the dominant share and regional players also hold a significant share.

For more insights on the market intelligence, refer to the link below: –

Global Mental Wellness Service Market Analysis

Global Water Desalination Equipment Market Outlook, and Revenue Forecast 2022-2028: Ken Research

 Market Overview

Water Desalination is the process of removing minerals such as salt from saline water to make it fit to use. The three main sources of saline water are seawater, brackish water, and river water. Water desalination equipment manufacturers develop different types of technologies for desalination purposes such as Reverse osmosis (RO), Multi-stage Flash (MSF) Distillation, Multi-effect Distillation (MED), and more that is mainly used in municipal and industrial application all around the globe.

According to Ken Research Analysis, the Global Water Desalination Equipment Market was valued at ~US$ 7 billion in 2017. It is estimated to be ~US$ 10 billion in 2022 and is expected to reach a market size of ~US$ 16 billion by 2028 growing with a CAGR of ~8% during 2022 to 2028.

The global market for water desalination equipment is expanding owing to water scarcity which means the lack of freshwater resources to provide the regular demand for water consumption for public use.

• According to United Nations, which is an intergovernmental organization that fosters friendly ties between countries and maintains global peace and security stated that around 700 million people from more than 43 countries all around the globe are affected by water scarcity.

• Environmental issues due to Brine Discharge, which is a remnant of a successful desalination process is one of the biggest challenge faced by the global desalination equipment market.
• As the installation cost of the brine treatment system is significantly high, thus companies prefer to directly dump the brine back into the sea, which negatively affects the marine flora and fauna.

• Due to the suspension of production operations in a number of industrial sectors, including Water Desalination Equipment manufacturing facilities, the COVID-19 pandemic hindered the growth of the Global Water Desalination Equipment Market. As a result, production showed a decline in the Water Desalination Equipment market.

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Scope of the Report

The Global Water Desalination Equipment Market is segmented by technology, source, and application. In addition, the report also covers market size and forecasts for the four major regions of the Global Water Desalination Equipment Markets. The revenue used to size and forecast the market for each segment is US$ billion.

By Technology	Reverse Osmosis (RO) Multi-stage Flash (MSF) Distillation Multi-effect Distillation (MED) Others
By Source	Seawater Brackish Water River Water Others
By Application	Municipal Industrial Others
By Geography	North America USA Canada Mexico Europe France Germany Spain UK Rest of Europe Asia Pacific China India Japan South Korea AustraliaRest of Asia Pacific LAMEA Latin America Middle East Africa
Key Players	Doosan Corporation IDE Technologies Biwater Holdings Limited SUEZ Veolia Water Solutions & Technologies Xylem ACWA Power Aquatech International LLC Abengoa Acciona

Key Trends by Market Segment

By Technology:  The Reverse Osmosis segment held the largest market share of the Global Water Desalination Equipment Market in 2021.

• Reverse Osmosis uses membrane separation equipment for the water desalination process, which is purely physical and less expensive as compared to other technologies.
• In reverse osmosis technology, the saline water is passed through a membrane, which filters salt and other minerals producing freshwater for generic use.

By Source: The Seawater segment accounted for the largest market share in the source segment in 2021.

• The growth is primarily due to the easy availability of seawater and the rise in the seawater desalination plants for dealing with water scarcity.
• In the desalination process the seawater is pumped directly into the desalination plant and several technologies such as reverse osmosis and multi-effect distillation are used to remove several minerals such as sodium, chlorine, magnesium, and more to convert the seawater into freshwater. 

By Application: The Municipal segment held the largest market share in 2021 of the global Water Desalination Equipment Market.

• Municipality plays a critical role, owing to the surge in demand for fresh water from the growing population, rapid urbanization, and stringent environmental regulations drive the need for clean and safe water for consumption.
• Water desalination is required by municipalities to supplement reserves by recovering wastewater, groundwater, and seawater, which can be supplied for domestic usage and others.

By Geography: LAME Accounted for the largest market share among all regions within the total Global Water Desalination Equipment Market in 2021.

• The growth is primarily due to the high industrialization and initiatives taken by countries like Saudi Arabia, Israel, and United Arab Emirates to deal with water scarcity.
• Israel currently has the world largest water desalination plant in the world, which has a capacity of 624,000m ³/day and uses technology such as seawater reverse osmosis for desalination purposes.

Competitive Landscape

The Global Water Desalination Equipment Market is highly competitive with ~500 players, which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Water Desalination Equipment manufacturing. Large global players constitute ~10% of competitors, while country-niche players represent ~60% of competitors. Some of the major players in the market include Doosan Corporation, IDE Technologies, Biwater Holdings Limited, SUEZ, Veolia Water Solutions & Technologies, Xylem, ACWA Power, Aquatech International LLC, Abengoa, Acciona, and among others.

Recent Developments Related to Major Players

• In August 2022, Doosan Corporation signed a contract worth US$ 590 Million for the construction of a water desalination plant in Saudi Arabia, the desalination plant uses reverse osmosis technology for desalination processes.
• In July 2021, DuPont is selected by IDE technologies to provide Sea Water Reverse Osmosis (SWRO) Filtration membrane for the Sorek water desalination plant in Israel.  The Sorek water Desalination plant currently holds the title of the world’s biggest water desalination plant.

Conclusion

The Global Water Desalination Equipment Market is forecasted to continue growing during the forecast period primarily driven by water scarcity. Though the market is highly competitive with ~ 500 participants, few global players control the dominant share and country-niche players hold a significant share. LAMEA is the dominating region, owing to the rapid industrialization in the region.

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Note:This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Key Topics Covered in the Report

• Snapshot of the Global Water Desalination Equipment Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Water Desalination Equipment Market
• Historic Growth of the Overall Global Water Desalination Equipment Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Water Desalination Equipment Industry
• Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
• COVID-19 Impact on the Overall Global Water Desalination Equipment Market
• Future Market Forecast and Growth Rates of the Total Global Water Desalination Equipment Market and by Segments
• Market Size of Application/End-user Segments with Historical CAGR and Future Forecasts
• Analysis of the Global Water Desalination Equipment Market
• Major Production/Supply and Consumption/Demand Hubs within Each Major Country
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region 

Key Companies Covered in the Report

• Doosan Corporation
• IDE Technologies
• Biwater Holdings Limited
• SUEZ
• Veolia Water Solutions & Technologies
• Xylem
• ACWA Power
• Aquatech International LLC
• Abengoa
• Acciona 

Notable Emerging Companies Mentioned in the Report

• Salinnova
• Useful Wastes
• Desolenator
• Anfiro
• High Voltage Water

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Water Desalination Equipment Raw Material Suppliers
• Water Desalination Equipment Products Manufacturers
• Government Ministries and Departments for Drinking Water and Sanitation
• Water Desalination Equipment Industry Association
• Water Desalination Equipment Companies
• Venture Capitalists Targeting Water Desalination Equipment Industry
• Investment Banks Targeting Water Desalination Equipment Industry
• Environmental Regulatory Authorities

Time Period Captured in the Report

• Historical Period: 2017-202
• Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: –

Global Water Desalination Equipment Market: Ken Research

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Global Specialty Silica Market Size, Share, Industry Report 2022-2028: Ken Research

 Market Overview:

Specialty silica is manufactured in the form of round pebbles or fine powders and is further used as key additives in the formulation of several products for various end-use industries such as automotive, electronics, inks, coatings, and personal care products. Silica is a compound of silicon and oxygen (SiO2), two of the most common elements in the earth's crust. Silicon dioxide occurs naturally as agate, sand, quartz, cristobalite, and flint. It is one of the major constituents of dental porcelain, and in granular form serves as a dental abrasive and polishing agent.

According to Ken Research Analysis, the Global Specialty Silica Market was valued at ~US$ 4 billion in 2017. It is estimated to be ~US$ 6 billion in 2022 and is forecasted to reach a market size of ~US$ 9 billion, growing at a CAGR of ~7% owing to the rising demand for rubber and paints & coatings across different end-use industries such as construction and footwear industries.

• Specialty silica is widely utilized in the production of rubbers used in various industries such as footwear, automobile tires, and others. Increasing tire production in the automotive industry is one of the factors driving the growth of the specialty silica market. Global automobile production is increasing in several developed countries, increasing the demand for tire consumption.
• The exponential increase in electric vehicle manufacturing presents lucrative opportunities for the tire industry, which is having a positive impact on the specialty silica market. In 2021, total electric vehicle sales reached 7.8 million units, double the figure from 2020.
• The biggest challenge for the market is the high cost of colloidal silica and the growing preference of end users for lower-cost alternatives. Specialty silica showcases a cyclical behavior, with the market shifting focus to other substitutes that are much lower in price as compared to silica. It will impact player profit margins in the years to come.
• The market was negatively impacted by the COVID-19 pandemic, owing to the strict regulations in several countries that temporarily halted all types of manufacturing processes. The global pandemic affected the production of rubber due to a complete ban on imports-exports that disrupted the supply chain, work stoppages, and labor shortages, thereby hampering the growth of the market. The prices have been severely hit due to COVID-19-induced trade restrictions. Specialty silica, being one of the key materials in rubber production, simultaneously experienced a dip in prices. The automotive industry is the key end-user industry of synthetic silica that faced reduced sales due to the pandemic. However, the market is expected to exhibit significant growth in the forecast period due to surging demand for specialty silica in the paint & coatings and automobile industries.

Scope of the Report: The specialty silica market is segmented by product, application, and region. In addition, the report also covers the market size for each of the four regions' specialty silica market. The revenue used to size and forecast the market for each segment is US$ billion.

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Product	Precipitated Silica Fumed Silica Fused Silica Silica Gel Colloidal Silica
Application	Rubber Plastic Paint & Coatings Electrical & Electronics Agricultural & Feed Food & Beverages Personal Care Others
By Region	North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy, Rest of Europe) Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific) LAMEA (Latin America, Middle East, Africa)
Key Players	Cabot Corporation Akzo Nobel N.V. Evonik Industries Huber Engineered Materials Solvay PQ Corporation Madhu Silica Pvt. Ltd. Wacker Chemie AG PPG Industries, Inc. W. R. Grace & Co.

Key Trends by Market Segment

By Product: The precipitated silica segment held the largest market share in the global specialty silica market in 2021, owing to its wide application in PVC sheets, wherein it helps in improving pigment dispersion and tensile strength.

• Precipitated silica is the most commonly used specialty silica in the rubber industry. The product acts as a reinforcing agent and improves wear and tear resistance.
• Fused silica is expected to register the highest CAGR during the forecast period. Fused silica products are used in the manufacture of optical components such as mirrors, UV and IR transmitting optics, lenses and metrology.

By Application: The rubber segment held the largest market share in the global specialty silica market in 2021, as rubber made of silica material is widely utilized in different end-use industries such as automotive, footwear, and others.

• In industrial rubber goods, specialty silica is commonly used in Liquid Silicone Rubber (LSR) and High-Temperature Vulcanized (HTV) rubber, which requires high mechanical strength and good electrical insulation.
• Paint & Coatings is expected to grow with the highest CAGR during the forecast period as it is widely used as a low-cost extender and is preferred for its chemical inertness tends to improve the viscosity of paints and coatings.

By Region: Asia Pacificheld the largest market share among all other regions within the global specialty silica market in 2021, owing to the rising construction activities in China and Japan .

• According to the International Organization of Motor Vehicle Manufacturers (OICA), Asia Pacific is the largest producer of motor vehicles. The growing automotive industry, is the factor responsible for the largest share of the region.
• The Japanese construction industry is predicted to boom as the country prepares to host the World Expo in Osaka, Japan, in 2025. The demand for constructing various buildings and infrastructure for the event will boost the market for specialty silica in the region.

Competitive Landscape

The Global Specialty Silica Market is highly competitive with ~200 players, including globally diversified players, regional players, and many country-niche players. Most of the country-niche players are the manufacturers of specialty silica used in various end-user industries.

Regional players constitute ~35% of the total number of competitors, while country-niche players dominate representing ~55% of total competitors. Some of the major players in the market include Cabot Corporation, Akzo Nobel N.V., Evonik Industries, Huber Engineered Materials, Solvay, PQ, Madhu Silica Pvt. Ltd., Wacker Chemie AG, PPG Industries, Inc., W. R. Grace & Co., among others.

Recent Developments Related to Major Players and Organizations

• In November 2021, Nouryon announced the expansion of its Levasil colloidal silica manufacturing plant in USA. The plant expansion is aimed to meet the increasing demand from the packaging and construction industry.

• In October 2021, Evonik Wynca Silicon Material started its fumed silica plant, which is the company’s first fumed silica plant in China. It aims at positioning the company by building a global supply chain for its customers in China and overall Asia.

Conclusion

The Global Specialty Silica Market witnessed a negative impact due to COVID-19 owing to the strict regulations in several countries that temporarily halted all types of manufacturing processes. The global pandemic affected the production of rubber due to a complete ban on imports-exports that disrupted the supply chain, work stoppages, and labor shortages, thereby hampering the growth of the market. Precipitated silica is the most common type of specialty silica product among others such as fumed silica, fused silica, silica gel, and colloidal silica. The majority of the silica material is used in the manufacturing of rubbers that are further utilized in various end-use industries such as electrical and electronics, automotive, footwear, and others. Though the market is competitive with over ~200 participants, country-niche players control the dominant share in the market and regional players also hold a significant share.

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Note: This is an On-Demand/Planned report, so the figures quoted here for market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within a maximum of 2 working weeks.

Key Topics Covered in the Report

• Snapshot of Global Specialty Silica Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Specialty Silica Market
• Historic Growth of Overall Global Specialty Silica Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of Global Specialty Silica Industry
• Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
• Covid-19 Impact on the Overall Global Specialty Silica Market
• Future Market Forecast and Growth Rates of the Total Global Specialty Silica Market and Segments
• Analysis of Global Specialty Silica Market
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region

Notable Key Players Mentioned in the Report

• Cabot Corporation
• Akzo Nobel N.V.
• Evonik Industries
• Huber Engineered Materials
• Solvay
• PQ Corporation
• Madhu Silica Pvt. Ltd.
• Wacker Chemie AG
• PPG Industries, Inc.
• W. R. Grace & Co.

Notable Emerging Companies Mentioned in the Report

• AeroShield
• WaferPro
• Ultra HPQ
• Ashtamers Pvt.Ltd.
• Qingdao Hengze Silica Gel Products Co.,Ltd

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Specialty Silica Manufacturers
• Specialty Silica Suppliers
• Precipitated Silica Suppliers
• Fumed Silica Suppliers
• Fused Silica Suppliers
• Silica Gel Suppliers
• Colloidal Silica Suppliers
• Specialty Silica Distributors
• Emerging and Startup Companies in Specialty Silica
• Different Types of Specialty Silica Research Labs
• Government Ministries and Departments of Minerals
• Government Departments of Electronics
• Ministries and Departments of Paint & Coatings
• Importers and Distributors of Specialty Silica

Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: –

Global Specialty Silica Market: Ken Research 

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Rising Automobile demand, Flexible models of financing, increase in Online Auto Finance Aggregator and Growth in Auto Finance industry had driven UAE Auto Finance Market: Ken Research

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Focus on Growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities are driving the UAE auto finance market.

Rising Automobile Demand:  UAE’s low import and fuel costs, conducive tax regime and high disposable incomes has strengthened the automobile sector and encouraged the global giants to set up its dealers and distributers in the UAE. The government has also been encouraging research and development with regards to autonomous or driverless vehicles, smart and eco-friendly alternatives, for instance, hydrogen, natural gas and hybrid vehicles which has led to the rise in demand for automobile.

Flexible Models of Financing: Younger, tech-savvy buyers, who expect to manage their finances remotely on a mobile device or computer are gaining market share. AI is increasingly making important decisions to offer a very different proposition to third party funders, brokers and banks like Dubai Islamic bank, Ajman bank, arab bank, mashreq, first Abu Dhabi bank etc.

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Growth in Automotive Industry: UAE’s low import and fuel costs, conducive tax regime and high disposable incomes have also helped strengthen the automobile sector and encourage global giants like Toyota, Nissan, Mitsubishi, etc. to set up shop here and manufacture in the country. The government has also been encouraging research and development with regards to autonomous or driverless vehicles such as the RTA and General Motors backed “Cruise” that is operating Chevrolet Bolt EVs across the city to create and maintain a navigable map for autonomous vehicles.

Online Auto Finance Aggregator: Major Online aggregator are Yallacompare, Moneymall, souqalmal, mymoneysouq, soulwallet. These platforms collaborate with Banks, Captives, NBFCs, Fintech lenders and other peer-to-peer lending platforms to provide multiple financing options that range from personalized ­interest rates and variable terms to completely new ownership models such as shared leasing and vehicle subscriptions.

Analysts at Ken Research in their latest publication “UAE Auto Finance Industry Outlook to 2026F - Driven by growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities” by Ken Research observed that UAE Auto Finance Market is in the growing phase. The Potential for Fintech Growth, growing digital advancement, rising automobile demand, flexible model of financing and government initiatives, are some of the factors that will contributed to the UAE Auto Finance market growth over the period of 2021-2026F. It is expected that UAE Auto Finance Sector will grow at a CAGR of ~17% for the above forecasted period.

Key Segments Covered: -

UAE Auto Finance Market:

By Category of Lenders (by Credit disbursed), 2021 & 2026F: 

• Captive Financing Companies
• Universal and Commercial Banks
• NBFCs

By Type of Vehicles (by Credit disbursed), 2021 & 2026F:

• Two Wheelers
• Three Wheelers
• Four Wheelers

By Type of Ownership (by Credit disbursed), 2021 & 2026F:

• Used Cars
• New Cars

By Category of Vehicles (by Credit disbursed), 2021 & 2026F:

• Passenger Vehicles
• Commercial Vehicles

By Duration of Loan (by Credit disbursed), 2021 & 2026F:

• 12 – 14 months
• 25 – 48 months
• 49 – 60 months

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Key Target Audience

• Banks and its Subsidiaries
• NBFCs
• Captive Finance Companies
• Government and Institutions
• Automobile Companies
• Car Dealers
• Government and Institutions
• Existing Auto Finance Companies
• OEM Dealerships
• New Market Entrants
• Investors
• Auto mobile Associations

Time Period Captured in the Report:

• Historical Period: 2016-2020
• Base Year: 2021
• Forecast Period: 2022 – 2026F

Companies Covered:

• Dubai Islamic Bank
• Commercial Bank of Dubai
• Emirates NBD
• HSBC
• Noor Bank
• Abu Dhabi Islamic Bank
• Al Hilal Bank
• Ajman Bank
• ADCB Islamic Bank
• Arab Bank
• RakBank
• Sharjah Islamic Bank
• Emirates Islamic Bank
• First Abu Dhabi Bank
• Mashreq Bank
• Dunia Finance
• Reem Finance
• Siraj Finance
• Finance House
• Dubai First

Key Topics Covered in the Report:

• Executive Summary for UAE Auto Finance Market Outlook to 2026F
• Country Overview of UAE
• UAE Auto Finance Market Overview and Genesis
• Ecosystem of Major Entities in UAE Auto Finance Market
• UAE Automotive Market - Major OEM Brands basis Passenger Car Sales
• Objectives of Captives
• Types of Car Loans in UAE Auto Finance Industry
• Value Chain of UAE Auto Finance Industry
• UAE Auto Finance Market Size
• UAE Auto Finance Market Segmentations
• Industry Analysis of UAE Auto Finance Market
• Decision Making Parameters for selecting Auto Finance Vendors
• Trends and Developments in UAE Auto Finance Market
• Challenges faced by End Users in UAE Auto Finance Market
• SWOT Analysis of UAE Auto Finance Market
• Government Regulations in the UAE Auto Finance Market
• Customer Journey
• COVID 19 Impact on UAE Auto Finance Industry
• UAE Auto Finance Aggregator Market
• Cross Comparison of Major Companies in UAE Auto Finance Market
• Future Outlook and Market Size for UAE Auto Finance Market 2021-2026F
• Analyst Recommendations

For more insights on the market intelligence, refer to the link below: -

Future Outlook UAE Auto Finance Market

Related Reports by Ken Research: -

KSA Auto Finance Market Outlook to 2026F

Thailand Auto Finance Market Outlook to 2024

KSA Car Finance Market is expected to grow at 11.7% over 2021-2026: Ken Research

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Focus On Embracing Digitization, New Government Policies under Vision 2030 and Entry of Women in the market are major factors contributing towards development of Car Financing in KSA.

Growth of Online Platforms: The last decade has witnessed the entry of various online auto classified platforms in the country such as Carnab and Motary. The internet penetration in the Kingdom stood at ~98% in January 2021, highlighting the growing presence of consumers online. The traction towards online platforms has led to banks, finance companies and car brands listing their fleet online along with the option to start loan application online. This improves the car selection process for consumers by saving time.

Increasing demand for Used & New Cars in KSA: Sales of cars are projected to increase from 475.8 thousand in 2021 to 540.7 thousand by 2026. Governments focus on shifting towards EV cars are also boosting the sale of cars; leading to increasing car financing in KSA. With the increasing number of women drivers in KSA and increasing car prices, people are shifting their preferences towards buying pre-owned cars. This is a major growth driver of the industry, as the interest rates for used car financing are higher than new car financing.   

Business Model: Traditional business models need to change and evolve with changing market trends. Large retail showrooms incur high overhead costs, like rentals and staff, hence needing new distribution models as car volumes continue to decline. Cost control will be critical in the short term.

COVID affecting Market Growth: COVID has impacted the production in the market. Car manufacturers underestimated the demand and couldn’t accurately predict the vehicles demand in the future and hence miscalculated the production requirements. Also, the lack of supply of vehicles was pronounced even more due to a global shortage of semiconductors chips. The semiconductor chip shortage is expected to cost the global automotive industry $110 billion in revenue in 2021.    

Analysts at Ken Research in their latest publication “KSA Car Finance Market Outlook to 2026F- Driven by Women Entering the Market, Increasing Employment Opportunities in the Kingdom” by Ken Research observed that KSA Car Finance Market is in the growing phase. Enhancing Service Offerings, collaborations with partners, expand pipeline with predictive analysis and getting in front of prospects through AI are some of the factors that will contributed to the KSA Car Finance market growth over the period of 2021-2026F. It is expected that KSA Car Finance Market will grow at a CAGR of 11.7% for the above forecasted period.

Key Segments Covered in the report

KSA Car Finance Market

• By Type of Vehicle Financing
• New car financing
• Used car financing

• By Type of Car Financed
• Hatchbacks
• Sedans
• Sports Utility Vehicle
• Multi-Purpose Vehicle

• By Price
• High (500,000+)
• Medium (200k-500k)
• Low (below 200K)
• By Type of Institution
• Banks
• NBFC's
• Captives
• By Tenure of Loans
• <2 years
• 3-4 years
• 4-5 years
• By Major Cities
• Riyadh
• Jeddah
• Dammam
• Others
• By Booking Mode
• Online
• Offline

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Key Target Audience

• Banks and its Subsidiaries
• NBFCs
• Captive Finance Companies
• Government and Institutions
• Automobile Companies
• Car Dealers
• Government and Institutions
• Existing Car Finance Companies
• OEM Dealerships
• New Market Entrants
• Investors
• Auto mobile Associations

Time Period Captured in the Report:

• Historical Period: 2017-2021
• Base Period: 2021
• Forecast Period: 2022-2026F

Companies Covered:

Banks

• Al Rajhi Bank
• Riyad Bank
• Al Jazeera Bank
• Alinma Bank
• Arab National Bank

NBFC’s

• Al Yusr Leasing and Financing
• Al Amthal Financing Company
• National Finance House
• Tajeer Finance
• National Finance Company
• Murabaha Marina Finance Company

OEM’s

• Abdul Latif Jameel United Finance Co. (Toyota Distributor)
• ALJABR FINANCE (KIA Distributor)
• Walan finance company (hyundai)
• Geely Finance (Geely Distributor)

Key Topics Covered in the Report

• KSA Automotive Market Overview
• Ecosystem, Business Cycle and Evolution of KSA Car Finance Market
• KSA Car Finance Value Chain Analysis
• Islamic Banking and Car Finance in KSA
• KSA Car Finance Market by Credit Disbursed, 2017-2021
• KSA Car Finance Market by Outstanding loans, 2017-2021
• KSA Car Finance Market Segmentation, 2021
• SWOT Analysis of KSA Car Finance Industry
• Infrastructure Development Overview of KSA
• Trends and Developments in KSA Car Finance Industry
• Operational Strategies for KSA Car Finance Services Market
• Issues and Challenges in KSA Car Finance Industry
• Government Policies and Initiatives for Automotive Industry
• Growth Drivers of KSA Car Finance Market
• KSA Car Finance Market Competition Overview
• Cross Comparison of Major Players in KSA Car Finance Market
• Strengths and Weakness of Major Players in KSA Car finance market
• Future Outlook and Market Projections, 2026F
• Case Study on Al Rajhi Bank
• Growth strategies for KSA Car Finance Market

For more insights on the market intelligence, refer to the link below: –

KSA Car Finance Market Outlook to 2026F: Ken Research

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Global Car Finance Market Development Strategy Pre and Post COVID-19, by Corporate Strategy Analysis, Landscape, Type, Application, and Leading 20 Countries

Indonesia Car Finance Market Outlook to 2024  

Egypt Car Finance Market Outlook to 2021

India Dental Services Market is expected to grow at robust CAGR of 9.6% by 2027F: Ken Research

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• Dental tourism is forecasted to grow at a robust value in comparison to the past years.
• Majority of the India Dental Services Market revenue is predicted to come from the dental clinics (organized & unorganized).
• Number of dentists is expected to grow at 7.2% in the forecasted period in India.

Rising awareness of Dental Services: Awareness regarding oral hygiene among the Indian population is growing due to the National Oral Healthcare Program. This is expected to contribute to the market growth over the forecast period. With the changing demographics and a change in lifestyle, aesthetically driven patients seek tooth treatment procedures & dental implants not as a part of their medical needs but as a cosmetic procedure to enhance beauty. The entertainment industry is also fueling the growth of cosmetic procedures in dentistry.

Government Initiatives: The Government of India has taken many initiatives such as Public Private Partnership, National AYUSH Mission, Vision 2035: Public Health Surveillance in India and Ayushman Bharat Digital Mission for the betterment and growth of the Dental Services Market in India. Government policies such as National oral program, will increase the number of dental colleges and labs, further driving the market.

Rise in Home consultation: Due to the COVID-19 pandemic, home and online consultations are on the rise and many online companies such as practo has tie ups with dentists all over India and they provide online consultations to the patients on a fixed fee.

Digitization and incorporating technology: An increase in technology in the dental services such as 3D scanning and CAD/CAM technology is being preferred by the new age dental clinics to take the scan of the patient's teeth and on the basis of the scan, aligners and braces are 3D printed. This type of technology is currently being used by companies such as Toothsi and Smiles.ai. Therefore, in the near future, technological advancement will complement the growth in the dental services market.

The report observed that the Dental Services Market in India is expected to grow at a positive CAGR of 9.6% during FY’2022-FY’2027F, owing to the rising adoption of teeth appearance improvement procedures, orthodontics segment is expected to witness a fast growth. Prevalence of dental disorders and increasing number of small and private dental clinics will lead to an increase in the number of dental chains in the country.

Key Segments Covered:-

India Dental Services Market:

By Types of Services: 

Endodontics

Cosmetic Dentistry

Prosthodontics

Orthodontics

Periodontics

Implantology

Others (wisdom teeth removal, facial trauma, corrective jaw surgery and other minor surgeries)

By Revenue Division

Domestic

International Tourist

By End Users

Dental Clinics (Organized + Unorganized)

Hospitals

By Dental Clinics

Unorganized Dental Clinics

Organized Dental Clinics

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By Cities

Tier-1

Tier-2

Tier-3

Key Target Audience:-

Dental Service Providers

Dental Equipment Distributors

Dental Equipment Manufacturers

Dental Clinics

Hospitals

Healthcare Companies

Pharmaceutical Companies

Tourism Agencies

Government Bodies & Regulating Authorities

Time Period Captured in the Report:-

Historical Period: FY’2017-FY’2021

Base Year: FY’2022

Forecast Period: FY’2022– 2027F

Companies Covered:-

Dental Services Providers

Clove Dental

Partha Dental Skin & Hair

Orthosquare Dental Clinic

Sabka Dentist

Apollo White Dental

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Key Topics Covered in the Report:-

India Dental Services Market Overview

India Healthcare Overview

Ecosystem of India Dental Services Market

Business Cycle and Genesis of India Dental Services Market

End User Analysis of India Dental Services Market

Consumer Journey in India Dental Services Market

Industry Analysis of India Dental Services Market

Key Growth Drivers in Dental Service Market in India

Major Challenges and Bottlenecks in India Dental Services Market

Regulatory Framework in India Dental Services Market

Competitive Landscape in in India Dental Services Market

Market Share of Major Dental Services Providers in India Dental Services Market

Detailed Analysis on India Dental Services Market (Market Size and Segmentation, 2017-2022; Future Market Size and Segmentation, 2022-2027F)

Market Opportunity and Analyst Recommendations

For more insights on the market intelligence, refer to the link below:-

India Dental Services Market

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Malaysia Dental Services Market Outlook to 2026F

Vietnam Dental Services Market Outlook To 2023

Singapore Dental Services Market Outlook to 2026F

Missile Defense System Market Size, Share, Industry Report 2022-2028: Ken Research

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Stand-off weaponry, bombers, helicopters, unmanned aerial vehicles (UAVs), and combat aircraft are all attacked with missile defense systems. Systems for missile defense are made to deal with aerial threats over a variety of lengths, from short to extend to long. Additionally, countries are raising their military budgets in response to escalating geopolitical tensions and worries about terrorism, which is driving up spending on missile defense systems along land and marine borders. This is expected to be the main factor driving the market's expansion over the forecast timeframe.

According to Ken Research Analysis, the Global Missiles and Missile Defense Systems Market was valued at ~US$ 20 billion in 2017. The market for Missiles and Missile Defense Systems will be driven by government spending on missiles and missile defense systems across national land and water borders is being driven by rising military budgets in response to rising geopolitical tensions among various countries and fears about terrorism.

It is estimated to be ~US$ 26 billion in 2022 and is expected to reach a market size of ~US$ 40 billion by 2028 growing at a CAGR of ~7% during 2022-2028.

• Governments are boosting their military spending as a result of escalating geopolitical tensions and worries about terrorism, which is leading to significant investments in missile defense systems (and accompanying missiles) across its land and water borders.
• Government agencies and the private sector are collaborating to develop hypersonic missiles and missile defense systems that are technologically cutting edge. The application of artificial intelligence to missile systems is anticipated to hasten the market's future growth.
• The rising expenses of creating missile defense systems and worldwide ambitions to transport such systems and weapons across other nations are the two most important variables that could restrain the market's expansion.
• Due to the COVID-19 pandemic and the implementation of lockdown by governments, major Missiles and Missile Defense Systems manufacturing companies were partially or completely shut down and were unable to sort operations while working remotely as the area requires the on-site presence of an expert workforce.

Key Trends by Market Segment

By Range - The Short (Up to 1,000 kms) segment dominated the market in 202. It is employed in regional conflicts in the past and in the future because of the close proximity of some nations, as well as its affordability and simplicity of configuration.

• The need for short-range missiles to protect against close, short-range threats from adversary attacks has been fueled by military conflicts involving numerous nations.
• In January 2022, the Indian navy, in partnership with the DRDO, successfully tested the Vertical Launch Short Range Surface to Air Missile (VL-SRSAM), which will be outfitted with Indian naval warships.

By Missile Type - The Anti-Aircraft Missiles segment is expected to be the fastest growing market during the forecast period owing to the adoption of the anti-aircraft missile by various countries worldwide.

• Anti-aircraft missiles are guided weapons intended to harm or kill airplanes and include surface-to-air missiles, air-to-air missiles, and subsurface-to-air missiles.
• In June 2022, Germany promised to provide Ukraine with cutting-edge anti-aircraft systems.

By Missile Defence system – The Surface-To-Surface Missiles segment accounted for the highest market share in 2021 in the Global Missile And Missile Defense System Market.

• The growth is primarily due to Surface-to-air missiles (SAMs) of any type can be launched from the ground using missile launchers to combat incoming enemy missiles.
• In December 22, 2021, the Defence Research and Development Organization (DRDO), India successfully carried out the first flight test of the home-grown surface-to-surface missile "Pralay" from Dr. A P J Abdul Kalam Island off the coast of Odisha, India.

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By Geography: North America accounted for the largest market share among all regions in 2021 owing to the rise in investments for defense and military systems in USA.

• According to the U.S. Missile Defense Agency (MDA), in November 2020 a Standard Missile 3 (SM-3) Block IIA interceptor successfully destroyed an intercontinental-range ballistic missile (ICBM) target in a test for the first time. The SM-3 Block IIA is now the second American interceptor type to demonstrate this capability, a significant accomplishment. The effects for future weapons control and geopolitical stability are grave.
• Major companies such as Boeing, General Electric, Lockheed Martin Corporation, Northrop Grumman, and many more are based in USA

Competitive Landscape

The Global Missiles and Missile Defense Systems Market are fragmented with ~260 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Missiles and Missile Defense Systems. Large global players represent the largest number ~50% of competitors, while country niche players constitute ~20% of competitors. Enhancing defenses against drones is a priority for the industry players related to the field. Government agencies and business entities are working together to develop technologically advanced missiles and missile defense systems, such as hypersonic missiles. Some of the major players in the market include MBDA Inc., BAE Systems., Boeing, General Electric, Lockheed Martin Corporation., Northrop Grumman, Kongsberg, Bharat Dynamics Limited, L3Harris Technologies, Inc., Israel Aerospace Industries Ltd, and others.

Recent Developments Related to Major Players

• In July 2022, L3Harris Technologies has been awarded a contract to build the Tranche 1 Tracking Layer satellite programme for the Space Development Agency (SDA), which will serve as "eyes in the sky" detecting, identifying, and tracking advanced missile threats. The contract could be worth US$700 million in total.
• In March 2019, the United States Army awarded a US$713 million contract to Northrop Grumman Corporation for the production of an Integrated Air and Missile Defense (IAMD) Battle Command System (IBCS) for the first phase of Poland's WISA air and defense program.

Key Topics Covered in the Report

• Snapshot of Missiles and Missile Defense Systems Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Missiles and Missile Defense Systems Market
• Historic Growth of the Overall Missiles and Missile Defense Systems Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Missiles and Missile Defense Systems Market Industry
• Overview, Disorder Offerings, and Strengths & Weaknesses of Key Competitors
• COVID-19 Impact on the Overall Missiles and Missile Defense Systems Market
• Future Market Forecast and Growth Rates of the Total Missiles and Missile Defense Systems Market and by Segments
• Market Size of Segments with Historical CAGR and Future Forecasts
• Analysis of the Missiles and Missile Defense Systems Market in Global Regions
• Major Missiles and Missile Defense Systems Type/Supply and Consumption/Demand Hubs in the Region
• Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within the Region

Notable Key Players Mentioned in the Report

• MBDA Inc.
• BAE Systems.
• Boeing
• General Electric
• Lockheed Martin Corporation
• Northrop Grumman
• Kongsberg
• Bharat Dynamics Limited
• L3Harris Technologies, Inc.
• Israel Aerospace Industries Ltd

Notable Emerging Companies Mentioned in the Report

• lvlAlpha
• ESSI Security and Defence
• TechEagle Innovations
• Chara Technologies
• Evigway Technologies

Key Target Audience – Organizations and Entities Who Can be benefited by Subscribing This Report

• Missiles and Missile Defense Systems Manufacturers
• Missiles and Missile Defense Systems Product Assemblers
• Missiles and Missile Defense Systems Component suppliers
• Raw Material Suppliers for Missiles and Missile Defense Systems
• Potential Investors in Missiles and Missile Defense Systems Companies
• Value Added Resellers
• Industrial OEMs of Missiles and Missile Defense Systems
• Industrial Guidance Mechanism Solutions Providers
• Missiles and Missile Defense Systems Companies
• Missiles and Missile Defense Systems Industry Associations
• Missiles and Missile Defense Systems Research Groups
• Ministries of Arms and Defense

Time Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below: –

Global Missiles and Missile Defense Systems Market: Ken Research