Global Polyamide Market is expected to reach USD 50 bn by 2028: Ken Research

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The global polyamide market is expected to record a positive CAGR of ~6% during the forecast period (2022-2028) and is expected to reach ~US$ 50 billion by 2028.

The rising demand for polyamide as a substitute for metals to reduce weight is boosting the demand for polyamide in various end-user industries like electronics & electrical, automotive, consumer goods & appliances, and various other sectors.

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Key Growth Drivers

• The global polyamide market is largely driven by an increase in demand from the construction and coating industries, growing demand from other end-use industries, and the waterproof characteristics of polyamide.
• Polyamide is being increasingly adopted in different industries for its waterproof nature and ability to withstand moisture. Waterproof polyamide textiles are being used by several industries to create various goods. Due to its waterproof qualities, it is frequently used to produce athletic and outdoor clothes.
• During the projected period, increasing demand for sports apparel, home textile materials, ropes, narrow woven materials, swimsuits, backpacks, and hiking apparel is anticipated to fuel the demand for polyamides.
• Increasing demand for substitute products and volatile raw material prices limits the market growth.
• The increasing threat from substitute products like polypropylene and polyvinylidene fluoride (PVDF), is anticipated to slow the rate of expansion of the global polyamide market. When compared to its counterpart, PVDF is a non-reactive thermoplastic that possesses finer qualities.
• Conversely, polyamide has a lesser degree of elasticity, a higher degree of wear resistance, a tougher surface, and a higher degree of UV resistance. In contrast, polypropylene is easier to handle and has higher elasticity, tensile strength, and smoothness, along with a lower elongation percentage. In recent years, PVF is significantly being used as a replacement for polyamide fishing lines.
• Due to supply chain disruptions and nationwide lockdowns, the COVID-19 pandemic hindered the growth of the worldwide polyamide market. As production prices increased as fewer workforces were employed as a result of the pandemic and expanding limitations on the general population, demand for PA6 and PA66 decreased. The consumer goods industries were impacted by a fragmented transportation industry due to a significant demand-supply cycle.
• However, with time, businesses started investing in developing regions, changing the market's competitive landscape, and investments were made in the R&D divisions to enhance the product line.

Key Trends by Market Segment

By Product: The Polyamide 6 product segment held the largest share of the Global Polyamide Market in 2021.

• PA 6's special qualities make it a suitable product substitution for materials like bronze, gunmetal, steel, brass, aluminum, and plastics, among others. The producers of electrical protection devices are promoting segmental expansion.

During the projection period, the demand for polyamide 6 is also estimated to rise as a result of the incorporation of PA 6 for its tensile strength. It is adopted in the premium carpet industry, fishing nets, and travel accessories. To make automobiles lighter and more fuel-efficient, polyamide is used to replace metal parts.

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By Application: Automotive application segment held the largest market share in the Global Polyamide Market in 2021.

• The increased use of polyamide in place of metal in the automobile industry to create the interior, structural, and technical parts of vehicles can be attributed to the growing demand for polyamide in the industry.

The production of cooling systems, rock valve covers, air intake manifolds, airbag canisters, and structural elements made of glass-reinforced plastic based on polyamides is a significant driver driving the market's expansion.

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By Geography: The Asia Pacific accounted for the largest market share in 2021 within the total Global Polyamide Market.

• The automotive sector has rapidly expanded in recent years, particularly in the Asia Pacific region. The sector has grown as a result of changing socioeconomic patterns.

Major corporations are moving their developed bases to nations like India, China, and Indonesia due to the availability of cheap labor, beneficial regulations, and government efforts to give attractive FDI legislation.

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Competitive Landscape

The Global Polyamide Market is highly competitive with ~400 players which include globally diversified players, regional players as well as a large number of country-niche players.

Country niche players constitute 60% of the competitors, followed by regional players with 35% of the market presence. Some of the major players in the market include Honeywell International Inc., BASF SE, Evonik Industries AG, DuPont de Nemours Inc., Teijin Limited, LANXESS AG, Invista, Formosa Plastics Group, Koninklijke DSM NV, Domo Chemicals GmbH, Mitsubishi Chemical Holdings, and others.

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Recent Developments Related to Major Players

• In October 2022, Evonik Industries AG expanded its sustainable elastomer line with the launch of a new polyamide 12 (PEBA) elastomer made 50% from recycled tires. Vestamid eCO E40 substitutes 50% of its fossil source ingredients with "materials produced via chemical recycling of old tires."
• In January 2022, Domo Chemicals, a polyamide industry supplier, expanded the market presence of its TECHNYL branded products and has made the products available to its customers globally. Major applications being served by the brand includes light engineering solutions, high thermal and chemical resistance, flame retardant materials for advanced electrical protection, and high aesthetic materials with add-on solutions for friction & extrusion and wear resistance.
• In November 2021, BASF launched a research and development facility at Korea’s Engineering Plastics Innovation Center, Ansan. In addition to other new abilities and a Consumer Electronics Competency Center, the new building contains the combined R&D team and competencies from its recent acquisition of Solvay's polyamide business.

Conclusion

The Global Polyamide Market is forecasted to continue a positive growth during the forecast period. One of the main trends driving market expansion is the high adoption rate of polyamide in various industries due to its properties like strong mechanical qualities, wear resistance, chemical resistance, and low gas permeability along with natural polyamide’s eco-friendly nature. The market is highly competitive with ~400 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

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.

Ken Research has recently published report titled, Global Polyamide Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four major regions’ polyamide market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product	Polyamide 6 Polyamide 66 Bio-based Polyamide Specialty Polyamide Others
By Application	Engineering Plastics Textiles Electronics and Electrical Sports Equipment Automotive Consumer Goods & Appliances Others
By Geography	North America USA Canada Mexico Europe Germany UK France Spain Italy Rest of Europe Asia Pacific China Japan South Korea India Indonesia AustraliaRest of Asia Pacific LAMEA Latin America Middle East Africa
Key Players	Honeywell International Inc. BASF SE Evonik Industries AG DuPont de Nemours Inc. Teijin Limited LANXESS AG Invista Solvay SA Koninklijke DSM NV Domo Chemicals GmbH Mitsubishi Chemical Holdings

Global Hand Dryers Market is expected to record a positive CAGR of 8% and reach US$ 1.5 Bn revenues by 2028: Ken Research

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A hand dryer is an electrical equipment/machine for drying hands after they have been washed. Several hand dryers are typically comprised of an apparatus with a downward-facing vent into which wet hands are inserted, while others feature an opening through which hands can be inserted to dry from both sides. Furthermore, they are commonly used in public restrooms in office buildings, restaurants, schools, and medical facilities in place of paper towel dispensers. They use air streams to dry hands faster and more thoroughly than paper towels, reducing daily waste and eliminating maintenance costs.

The Global Hand Dryers Market is expected to record a positive CAGR of ~8% during the forecast period (2022-2028) and reach ~US$ 1.5 Bn revenues by 2028, due to the increasing individual awareness regarding health and hygiene, following the outbreak of the Covid-19 pandemic in 2020. In addition, the pandemic has shifted individuals’ preferences for maintaining a sanitation and hygiene lifestyle and prioritizing hand hygiene, which, taken in conjunction with rapid urbanization, has increased the market for hand dryers.

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• The increasing technological advancement and adaptation of products that are energy-intensive, environmentally sustainable, and pollutant-free is becoming a global priority, especially in the ongoing COVID-19 pandemic. This is boosting the demand for hand dryers worldwide to prevent the spread of the virus.
• For instance, the survey of US adults assessed self-reported hand drying practices in public restrooms, conducted by the National Library of Medicine (NLM), operated by the US federal government, discovered an increased preference for using electric hand dryers and a decreased preference for using paper towels during the COVID-19 pandemic compared to before. Preference for hand drying techniques after disinfecting in a public restroom increased by 36.9% during the covid-19 pandemic, compared to 31.4% before the covid-19 pandemic.
• Rising government initiatives and inclination toward smart infrastructure in emerging countries, including Brazil, India, China, and Mexico are likely to boost the adoption of hand dryers.
• For instance, according to Swiss Re, a Swiss insurance company, emerging economies will invest USD 2.2 trillion in infrastructure annually over the next 20 years, amounting to 3.9% of GDP (GDP). In addition, the energy sector, particularly renewable energy, smart and resilient infrastructure, and healthcare facilities are expected to see significant investment. This will encourage the installation of smart healthcare settings in hospitals to facilitate microbial cross-contamination through air transmission to the environment or restroom visitors.
• The higher cost associated with hand dryer installation and the increase in noise pollution during installation are the major factors restraining the hand dryer market growth.
• The ongoing COVID-19 pandemic has adversely affected the supply side of hand dryers, owing to restrictions imposed by several governments across countries, such as limited transportation, lower workforce capacity, closure of commercial and industrial operations, and restricted trade/import & export in 2020 to prevent the spread of the virus, which had hindered the manufacturing of hand dryers, resulting in lower sales.
• However, when the governments lifted the lockdown restrictions across countries in 2021, numerous industrial operations, such as commercial complexes, airports, hotels, and restaurants resumed their operations, resulting in a significant increase in the use of hand dryers to maintain social distance and minimize the impact of becoming contaminated by intimate surfaces.

Key Trends by Market Segment

By Product Type: The jet hand dryers segment dominated the market for hand dryers in 2021.

• Jet hand dryers are more efficient than hot hand dryers as they consume less energy and require less drying time.
• In addition, they are being largely installed in food-processing plants, airports, hotels, restaurants, shopping malls, hospitals, and office buildings as they are more hygienic, quick and effective, economically viable, silent, and comfortable.

 

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By Mode of Operation:  The automatic segment held the largest market share of the global hand dryers market in 2021.

• The growth is mainly attributed to its energy efficiency, ease of maintenance, and cost-effectiveness.
• In addition, it also cuts down the need for the human touch to dry hands, reducing the spread of germs that could be left on the dryer, which is the major factor driving the growth of this segment.
• Furthermore, the outbreak of the COVID-19 pandemic accelerated the adoption of automatic hand dryers for contactless hand-drying experiences, which aids in the prevention of virus spread.

By End User: The hotels & restaurants segment accounted for the majority share of the global hand dryers market in 2021.

• The continuous development and improvement of infrastructure across countries have increased the number of hotels and restaurants equipped with advanced techniques and facilities, which is fueling the demand for hand dryers.
• For instance, according to The National, an Abu Dhabi-based private English-language daily newspaper, Saudi Arabia intends to construct 310,000 completed hotel rooms by 2030 as part of its plans to develop its hospitality market for domestic and international tourism, which, in turn, will raise the demand for smart hygiene solutions or services.
• Furthermore, the increase in tourism activities worldwide is one of the major factors contributing to the growth of this segment.
• For instance, according to the World Tourism Organization (UNWTO), the United Nations specialized agency responsible for the promotion of sustainable and universally accessible tourism, international tourism increased 182% year on year (Y-O-Y) in January-March 2022.

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By Geography: Europe accounts for the largest share among all regions within the total hand dryers market in 2021.

• The improved infrastructure and the presence of technologically advanced countries such as Germany, the United Kingdom, and France are primarily responsible for this growth.
• Furthermore, the expansive increase in tourist visits to European countries is one of the major contributing factors to the hand dryers market.
• For instance, according to Ashurst LLP, a UK-based law firm, Germany and the UK have the largest rate of domestic tourists as a share of total visitors in 2021, with 79.3% and 74.4%, respectively.
• The Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period (2022-2028), owing to the continuous development of infrastructure in countries, including China, India, and Thailand, as well as growing awareness regarding the benefits of technologically advanced machines. Additionally, several smart city initiatives/missions supported by governments in Asian countries may increase the region's adoption of hand dryers.

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Competitive Landscape

• The Global Hand Dryers market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche technologies, such as airblade technology, high-efficiency particulate air (HEPA) filters, and motion sensors. The hand dryer market's growth is heavily reliant on detection technologies and advancements in electric appliances.
• Country-Niche players control about ~70% of the market, while regional players hold a share of ~20%. Some of the major players in the market include World Dryer, American Specialties Inc., Dyson, Mitsubishi Electric Corporation, Panasonic Holdings Corporation, Excel Dryer, Euronics Industries Pvt Ltd, Hokwang Industries Co., Ltd., Bobrick Washroom Equipment, Inc., Jaquar, Saniflow Hand Dryer Corporation, SPL NZ and among others.

Recent Developments Related to Major Players and Organizations

• In August 2022, Bobrick, a U.S.-based manufacturer of restroom accessories, and toilet partitions, launched PureDri Sanitizing Hand Dryer under its Pure Hygiene Solutions collection along with the PureSphere Air Sanitizer. In addition, the company also claimed that such products can kill 99% of bacteria, viruses, mold, and fungi in over 10 minutes.
• In July 2022, Euronics, a Netherlands-based retail company, introduced a new line of products, including hand dryers, sensor-operated bidet, sensor taps, sanitary napkin disposal, and automatic soap dispensers, with their new touchless fittings, to reduce contamination, particularly in public restrooms.
• In May 2020, World Dryer, a US-based manufacturer of hand dryers and related products, launched the enhanced version of its existing VERDEdri model. The model is 30% quieter and has three additional acoustic modes for appropriate noise reduction.

Conclusion

The global hand dryers market is forecasted to continue exponential growth after the outbreak of COVID-19 pandemic worldwide. One of the main trends driving market expansion is a shift in individual preferences toward a healthier and more hygienic lifestyle, particularly in the aftermath of the covid-19 pandemic's spread across countries. Though the market is highly competitive with around 500 participants, few country-niche players control the dominant share and regional players also hold a significant share.

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 report delivered within maximum 2 working weeks.

Ken Research has recently published report titled Global Hand Dryers Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 that is segmented by Product Types, Mode of Operations, and End-User. In addition, the report also covers the market size for each of the four region hand dryers market. The revenue used to size and forecast the market for each segment is USD Million.

Market Taxonomy

By Product Type

Hot Hand Dryers

Jet Hand Dryers

By Mode of Operation

Push-Button

Automatic

By End User

Hotels & Restaurants

Airports

Shopping Malls

Hospitals

Office Buildings

Others

By Geography

North America (U.S., Canada, Mexico)

Europe (Germany, UK, France, Italy, Spain, Rest of Europe)

Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)

LAMEA (Latin America, Middle East, and Africa)

Global Dental Consumables Market is expected to reach revenue of ~ US$ 45 billion by 2028: Ken Research

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According to Ken Research Analysis, the Global Dental Consumables Market is expected to record a positive CAGR of ~ 7% during the forecast period (2022-2028) and is expected to reach ~ US$ 45 billion by 2028, owing to several factors including the increasing prevalence of dental problems or untreated tooth decay coupled with the rising geriatric population, growing demand for cosmetic dentistry, and rising dental tourism.

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Key Growth Drivers

• The rising incidence of tooth decay or dental caries, and other dental problems such as mouth sores, tooth erosion, gum diseases, and others along with increasing awareness regarding oral health among people globally are expected to drive the growth of the dental consumables market. In December 2020, according to the Centers for Disease Control and Prevention (CDC), more than one in four adults which makes 26% of the adult population in the U.S. have untreated tooth decay.
• The advancement in technologies in cosmetic dentistry is likely to create immense opportunities for the growth of the dental consumables market in the forthcoming years. In December 2021, Dentsply Sirona partnered with 3Shape to improve oral health and digital dentistry. Dentsply Sirona integrated their intraoral Primescan and Omnicam scanners with 3Shape’s lab software to improve the process of digital impression. The aim of the partnership is to make digital-impression-taking procedures easy and efficient for dental technicians.
• The limited reimbursements and high cost associated with dental procedures is the most significant barrier to the growth of the dental consumables industry globally. According to Bankers Healthcare Group survey, 72% licensed dentist stated that declining reimbursement rates is the major concern in the dental industry.
• During the COVID-19 pandemic, the disrupted supply chain has affected the production capacity, demand, and supply of dental consumables and the demand for non-essential procedures including cosmetic dentistry and other dental procedures decreased among consumers. According to National Center for Biotechnology Information (NCBI), dental offices faced significant losses of over 70% during the COVID-19 pandemic. According to British Dental Association, the studies shown that 70% of clinics are having hard time in surviving and maintaining their dental business.

Key Trends by Market Segment:-

By Treatment:  Prosthodontic segment held the largest share of the global dental consumables market in 2021, due to increasing demand for dental procedures for missing or damaged teeth coupled with a rapidly growing geriatric population who are more vulnerable to oral diseases.

• According to the American College of Prosthodontists, 120 million people have at least one missing tooth in the U.S. and 36 million Americans have no teeth at all.

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By Product Type:  Dental Implants segment held the largest share of the global dental consumables market in 2021, due to the rising demand for dental implants among the growing geriatric population coupled with the increasing number of product launches by the manufacturers to fulfill the demand of the end-user.

• In June 2021, ZimVie Inc. announced the launch of two next-generation dental solutions including T3 PRO Tapered Implant and Encode Emergence Healing Abutment in the U.S. The aim of the product launch is to expand its product portfolio as T3 PRO Tapered Implant is the new addition and is designed to optimize aesthetics and restorative care.

By Materials: The Metals segment accounted for the majority share of the global dental consumables market in 2021, due to growing demand for metals such as zirconium oxide, titanium, and others for making dental implants along with growing demand for the strong material for providing the support to the replaced tooth.

• In April 2022, Neodent, a Brazil-based dental implant company launched a new dental implant system in March named Zi, made from zirconia known for its aesthetics and strength.

By End-User: Dental Hospitals & Clinics segment accounted for the largest share in 2021 of the global dental consumables market owing to the rising cases of dental surgeries and procedures globally along with the adoption of advanced technologies by dental hospitals and clinics to offer easy and efficient services to the patients. In addition, the development of new platforms for providing a wide variety of dental consumables to hospitals, clinics, or dentists is anticipated to propel the growth of the market.

• In October 2020, Medikabazaar, India’s online platform for B2B medical equipment and supplies, announced to launch of a dental microsite. The microsite launch aims to target dentists and dental clinics and to offer dental solutions under one platform.

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By Geography: The North America region accounted for the largest share in 2021 of the global dental consumables market due to the presence of a large number of dental consumables manufacturers in the region along with the rising incidence of dental diseases among North American consumers. In addition, there are various strategic initiatives taken by the leading manufacturers to tackle the competition and prosper in the market.

• In February 2020, Seattle/King County Clinic provided free dental, vision, and medical care services in the U.S. for four days. The company collaborated with healthcare organizations, non-profits, and private businesses to offer access to healthcare.

Asia-Pacific is the fastest growing region in the global dental consumables market owing to its swiftly rising population along with an increasing number of dental disorders among people. In addition, Asia-Pacific is the hotspot for cosmetic dentistry and is attracting a large number of consumers as offers low-cost dental treatments in comparison to other developed countries. The aforementioned factor is increasing the growth of dental tourism in the region.

Competitive Landscape

The dental consumables market is highly competitive with ~400 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in dental consumables.

Large global players control over 35% of the market share in terms of market revenue share, while regional players hold the second largest share. Some of the major players in the market include Dentsply Sirona, Zimmer Biomet, 3M, Young Innovations Inc., Hu-Friedy Mfg. Co., LLC., GC Corporation, Danaher, Henry Schein, Inc., Ultradent Products Inc., Institut Straumann AG, Ivoclar Vivadent, and among others.

The leading global dental consumables companies such as Dentsply Sirona, 3M, Ivoclar Vivadent, are highly focused on providing a broad category of dental consumables products for various end-users.

Recent Developments Related to Major Players

• In February 2022, Zimmer Biomet launched OverdenSURE, a new overdenture attachment system for Zimmer Biomet dental implants in the U.S. and Europe. The portfolio offers restorative components, abutments, and tooling products.
• In February 2022, Young Innovations, Inc. announced the acquisition of Medical Purchasing Solutions (MPS), a leading supplier of surgical and pharmaceutical products. The company aimed to offer dental consumable products to fulfill the growing need for oral pain management, dental implants, and oral surgery.

Conclusion

The global dental consumables market is forecasted to continue a significant growth that is witnessed since 2017, primarily driven by the rising demand for dental consumables among dentists to diagnose, prevent, and treat any oral health issues along with the increasing incidence of tooth decay or dental caries globally. Though the market is highly competitive with over 400 participants, few global players control the dominant market share and regional players also hold a significant market share.

 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 report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Dental Consumables Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, market is segmented by treatment, product type, materials, and end-user. In addition, the report also covers market size and forecasts for the four region's dental consumables market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Treatment

• Orthodontic
• Endodontic
• Periodontic
• Prosthodontic

By Product Type

• Dental Implants
• Whitening Products
• Finishing & Polishing Products
• Other Dental Consumables

By Materials

• Metals
• Polymers
• Ceramics
• Biomaterials

By End-User

• Dental Hospitals & Clinics
• Dental Laboratories
• Others

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • AustraliaRest of Asia-Pacific
• LAMEA
  • Latin America
  • The Middle East
  • Africa

Global Silicone Sealants Market is expected to reach approximately US$ 7 billion by 2030: Ken Research

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Silicone sealants are widely and frequently utilized in building projects for panels, expansion joints, weatherproofing, and other applications. The sealants belong to the adhesive family that is found in a liquid or gel-like state and must be cured or dried to get the best adherence.

According to Ken Research Analysis, the Global Silicone Sealants Market is expected to record a positive CAGR of over 6% during the forecast period (2022-2030) and is expected to reach approximately US$ 7 billion by 2030.

Silicone exhibits exceptional resistance to moisture, weathering, and other chemicals, and unlike other adhesive types, it can maintain its stability and elasticity at both low and high temperatures which is propelling the demand for the product in markets across the globe. The product is adopted by various end-user industries like building & construction, semiconductors & electronics, automotive, glass, and wood furniture.

• The silicone sealants market is positively impacted by the ongoing search for industrial adhesives and sealants with innovative chemical formulas that can endure high levels of stress. This goes hand in hand with the transformation taking place in the manufacturing and architectural sectors.
• The demand for the product is also being pushed up as to combine two distinct materials, silicone sealants are increasingly being employed in place of traditional mechanical fastening and welding techniques. In structural glazing applications, particularly energy-efficient glazing, silicone sealants are frequently used as they have superior adhesive qualities and lower component weight overall when compared to alternative joining techniques. As per the National Center for Biotechnology Information, adhesives and sealants (AS) are materials with exceptional qualities, adaptability, and straightforward curing mechanisms. These are extensively employed in a variety of fields, from building construction to the medical sector.
• Developments are coming into action to fetch the benefits of silicone sealants. In June 2022, Dow released the first carbon-neutral silicones for facades that have been externally PAS 2060-verified. Carbon-neutral silicones support more resource and energy-efficient building practices, as well as circularity at the end of a facade's useful life.
• The factor limiting the market growth is that various countries are using eco-friendly products in different applications due to the rise in environmental challenges and governing laws. Construction sealant producers all over the world are re-designing their policies to assure safety and prevent health problems brought on by VOC emissions from chemical products. Manufacturers in the European and North American regions are impacted in terms of their manufacturing capacities.
• Environmental regulations are very demanding in Europe and North America when it comes to the manufacturing of chemical and petroleum-based products. In recent years, structural glazing and structural glazing silicone have received European Standards endorsement, and the potential for a qualifying structural sealant to be a CE-mark-approved component is recognizing the product's capability to withstand the crucial requirements of modern construction.
• The emergence of the global health catastrophe brought on by the coronavirus pandemic has had a bad impact on the industrial sector globally. The pandemic's effects on supply chain interruptions, a lack of raw materials, and the closure of important facilities have particularly hurt the construction sector. Nearly 25% of construction projects worldwide were halted as a result of lockdowns related to COVID-19, according to the RICS 2020a (RICS Global Construction Monitor), which polled over 2000 industry professionals.
• The gradual restart of company operations, increasing attention being paid to construction, and the subsequent increase in demand for materials like silicone sealants may portend the possibility of a rebound in the years to come. To meet the demands of a changing market, manufacturers are concentrating on enhancing their capacity through acquisitions and joint ventures. To enhance its expansion in the high-quality sealants industry, Soudal, for instance, purchased Momentive Performance Materials' silicone manufacturing facility in April 2021.

Key Trends by Market Segment

By Product Type:  Acetoxy product type segment held the largest share in the Global Silicone Sealants Market in 2021.

• The Acetoxy segment is anticipated to grow at the highest CAGR during the forecast period. Building and construction in kitchen backsplashes, door and window frames, bathrooms & bathtubs, countertop sealing, and other areas are contributing to the dominance and growth of acetoxy silicone sealants. It is because of the positive features like acetoxy sealants dry much more quickly than neutral cure silicone and typically become tack-free within minutes is one of their main advantages.
• According to the Associated General Contractors of America (AGC), the construction industry, which employs more than 733,000 people, produces approximately $1.4 trillion worth of structures annually, which in turn propels the demand for acetoxy being used in the above-mentioned applications.

By Technology: Room Temperature Vulcanizing (RTV) technology segment held the highest market share in the Global Silicone Sealants Market in 2021.

• The growing use of alkoxy, acetoxy, and oxime silicone sealants in structural applications in the building & construction, and automotive industries is a major factor driving the need for room temperature vulcanizing. RTV propels more than 200% elongation of sealants required in different application areas of the building & construction.
• Thermoset or heat-cured segment is expected to experience the fastest growth of over 6% during the forecast period. Cross-linked Technology resins used in Thermoset silicone sealants are cured at high temperatures. These can be used in equipment and assembly applications in a variety of industries, including aerospace and automotive, due to their capacity to tolerate high temperatures.

By Application: Building & construction application segment held the largest market share in the Global Silicone Sealants Market in 2021.

• In the building & construction sector, silicone sealants are used for a variety of things, including bathroom and kitchen fixtures, floor gap sealing, fire-rated joints around pipes, electrical conduits, ducts, and electrical wiring inside of building walls and ceilings.
• Silicone sealants are resistant to temperature changes. They are a desirable building material since they are also resistant to thermal expansion and contraction, wind oscillation, and even seismic movement.
• Major manufacturers are expanding their production capacity as a result of the silicone sealant’s increased demand in the building & construction sector.

By Geography: Asia Pacific accounted for the largest market share in the Global Silicone Sealants Market in 2021.

• With the rise in the construction industry, the thermoset and RTV sealants market segments in the region are expected to rise significantly. Growth in the market is predicted to be aided by the expanding construction sector in the area and RTV's capacity to seal joints in structures across a range of substrates without causing construction components to lock.
• Additionally, these sealants possess low maintenance, reduce long-term expenses, and increase building stability and longevity, all of which contribute to the market's expansion.
• In India, industries like consumer goods, construction, electronics, and transportation are anticipated to grow rapidly in the upcoming years. The Indian government is making attempts to promote the manufacturing sector of the nation, encouraging domestic production and utilizing the infrastructure already in place to serve the growing retail industry. Over the projection period, these factors are expected to increase demand for silicone sealants across a range of industrial sectors.
• North America is the fastest growing market and is expected to reach a considerable value number in the coming years. Consumption of the product is anticipated to increase in the region as a result of the usage of silicone sealants in buildings to attempt to seal holes inside fire-resistance certified wall and floor assemblies and prevent the spread of flames and smoke from one room to another.

Competitive Landscape

• The global silicone sealants industryis highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players. The market for silicone sealants has presence of several domestic manufacturers and a sizable number of Chinese manufacturers supplying low-cost goods.
• To combat volatile raw material prices, prominent players in the silicone sealants market are focusing on the vertical integration of manufacturing capabilities and the expansion of manufacturing facilities.
• Large global players control about 15% of the market presence, while regional players hold the largest presence in the market at 45%. Some of the major players in the market include 3M Company, BASF SE, Henkel AG & Co. KGaA, Bostik, TKK D. O. O, H.B.Fuller, PPG Industries, Pidilite, GCP Applied Technologies, Dupont, Wacker Chemie AG, Sika A.G., and others.

Recent Developments Related to Major Players

• In January 2021, Momentive acquired the silicone division of KCC Corporation in South Korea and the UK. Additionally, the business purchased a Chinese sales organization. Momentive's global expertise in advanced silicones and specific applications is expected to further enhance by this purchase.
• In June 2020, RWC released two new moisture-resistant silicone fire sealant products called HydroFlame 300 caulk-grade and HydroFlame 300 self-leveling sealants. These are intended for applications that have UL-listed W ratings or that are exposed to high moisture levels. These silicone sealants that dry quickly can be applied to various flooring holes, pipe types, and wall penetrations.
• Momentive Performance Materials, a well-known supplier of silicone and specialty chemical-based products, signed a deal with Henkel in August 2020 to sell its Consumer Sealants segment. With this agreement, Henkel strengthens its position as a top supplier of adhesives, sealants, and other materials for the construction industry.
• In December 2020, WACKER announced the addition of silicone sealants made from renewable raw resources to its silicone product line. The Munich-based chemical Group is now able to provide goods made with bio-based methanol to silicone sealant producers thanks to the launch of its ELASTOSIL® green brand in Europe.

Conclusion

The global silicone sealants market is forecasted to continue the positive growth that is being witnessed since 2021. One of the main trends driving market expansion is the rise in demand for construction silicone sealants in the infrastructure and residential housing sectors. The market for silicone sealants is highly competitive with ~200 companies including several domestic manufacturers and a sizable number of Chinese manufacturers supplying low-cost goods.

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 report delivered within a maximum of two working weeks.

Ken Research has recently published report titled Global Silicone Sealants Market Size, Segments, Outlook, and Revenue Forecast 2022-2030 that is segmented by Product Type, Technology, and Application. In addition, the report also covers market size and forecasts for the four major regions’ silicone sealants market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product Type

Acetoxy

Amino

Oximinics

Acetic

Others

By Technology

Room Temperature Vulcanizing (RTV)

Thermoset or Heat Cured

Radiation Cured

Pressure Sensitive

By Application

Building & Construction

Semiconductors & Electronics

Automotive

Glass

Wood Furniture

Others

By Geography

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

Global Network as a Service Market is expected to reach revenue of ~US$ 50 Bn by 2028: Ken Research

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The Global Network as a Service Market is expected to witness a rapid CAGR of ~30% during the forecast period (2022-2028), and reaching revenue of ~US$ 50 Bn by 2028, due to an increase in investment in advanced technology and collaboration in a cloud computing network.

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Key Growth Drivers

• The CISCO Global Cloud Index estimated that in 2021, cloud data centers would have likely processed ~90% of all workloads and computing instances, and the remaining processed by traditional data centers. As the information and applications hosted by the cloud are evenly distributed across all the servers, which are connected to work as one. Therefore, if one server fails, no data is lost and downtime is avoided. The cloud also offers more storage space and server resources, including better computing power. This means your software and applications will perform faster.

Traditional IT systems are not so resilient and cannot guarantee a consistently high level of server performance. They have limited capacity and are susceptible to downtime, which can greatly hinder workplace productivity.

• The high cost of implementation may create problems for the NaaS service provider as vendors may find it challenging in maintain and protect technology.
• Since the COVID-19 outbreak, businesses have adopted the remote working concept, which has considerably raised the need for cloud-based solutions.
• However, in 2020, sales declined significantly for a variety of industries, including manufacturing, BFSI, retail, and others. Due to the rising popularity of remote working, businesses are increasing their investments in edge computing, cloud-based analytics and assurance, and AI-powered networking solutions. It's expected that this would lead to an increase in the NaaS market.

Key Trends by Market Segment

By Type:  WAN dominates the market share of the Global market.

• WAN develops a communication network with the help of mobile phones, computers, remote offices, and data center
• WAN as a service offers cloud, and Internet connectivity used by the customers and configures the WAN using software instead of hardware appliances.
• The primary advantage of WAN is that it is designed to allow communication over a wide geographical area.
• In February 2020, The VMware Telco Automation Cloud was launched to model, onboard, orchestrate, and manage virtual network functions (VNFs), cloud network functions (CNFs), and network services. TAC prioritized the cloud to reduce the complexity of multi-cloud architectures, making NFVs and VNFs more manageable as part of its "Ready for NFV" campaign.
• In April 2018, China Mobile International, a Chinese telecom carrier, and Aryaka, a top provider of SD-WAN solutions, collaborated to offer completely compliant SD-WAN solutions for multinational corporations. This collaboration made it easier to build and administer SD-WANs and to comply with Chinese regulations.

By Application: Cloud-services provider segment accounts for the majority share of the Global NaaS Market.

• Cloud- services providers the segment that is rising the fastest. The primary forces behind cloud migration include scalability, improved efficacy, speedier deployment, mobility, and disaster recovery.
• Cloud services describe a broad variety of services that are provided on demand to businesses and clients through the internet. These services are created to offer quick, inexpensive access to resources and applications without the need for internal hardware or infrastructure.
• Due to Transmission from on-premises modules to cloud-based services and rising investment in cloud-related services by various end-user industries.
• Due to the COVID pandemic the rise in demand for Video Conferencing increases as companies are opting for Work from Home.
• According to Cisco's Global Cloud Index, 78% of all cloud processes are anticipated to be supplied using a NaaS model between 2016 and 2021. Network as a service was expected to make up 10% of the worldwide cloud industry, while infrastructure as a service was predicted to decline from an impressive 25% in 2021.

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By Enterprises: Large enterprises segment account to hold the largest share of the market.

• Large enterprises are using virtualized technology to manage the connection in remote sites and raising support for Bring Your Own Device (BYOD) which helps them in managing their diverse source cost-effectively.
• Many large industries are embracing cloud services because they enable them to fulfill their business objectives at a low cost.
• Large enterprises are adopting NaaS as it covers a wide geographical area and it helps the large organization connect with all the branches at a time.
• The adoption of NaaS in the Large enterprise segment is due to influenced by higher uptime, better security, better Quality of Service (QoS), higher performance, and optimized systems.

By End Users: Software and Technology is the largest market in Global NaaS Market.

• The rise in demand for Software and Technology due to allocating cloud computing among enterprises as well as government agencies.
• Network infrastructure is essential in the IT and telecom sectors since the majority of activity in these sectors rely on their networks. Network services are collections of interconnected virtual and physical network operations. The foundational elements of 5G networks are those. Consequently, the development of new technologies like 5G will lead to significant adoption of the NaaS platform in the telecom sector.
• In June 2022, NaaS Technology Inc. has officially listed on the NASDAQ under the ticker NaaS. to operate its technology in 358 cities across China and has connected more than 400,000 chargers and 44,000 charging stations.

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By Geography: North America accounts for the largest share among all regions within the global Network as a Service market, accounting for total market revenue.

• The increase in demand for Network as a Service in Canada is growing mainly due to its new product roll-outs, acquisitions, mergers, and partnerships, which are changing the market in North America overall.
• The presence of a large number of service providers offering network services is also anticipated to drive regional growth over the forecast period.
• The second largest region is Europe. Several collaboration initiatives taking place in the nation are contributing to the growth of NaaS platforms and product innovation. In February 2021, Packet Fabric and Colt Technology Services of the UK announced a strategic relationship to directly integrate Colts on Demand with Packet Fabric’s Network as a Service (NaaS) infrastructure. This will provide real-time network access to 100 prestigious data center sites around Europe, which will be advantageous to Packet Fabric’s business clients.
• Asia-Pacific is the fastest-growing region driven by China’s widespread adoption of 5G and 5G mobile networks that support many different service types such as health, automotive, Banking Services, and Telecom.

Competitive Landscape

The Global NaaS 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 a cloud-based solution, and technologies. The NaaS market's growth is heavily reliant on technological advancement and Software investment. Nowadays, numerous cloud-based companies, including Rackspace, Verizon, Cisco, and Juniper are investing in NaaS, and governments are also making significant investments in NaaS.

Country-Niche players constitute about ~65% of the competitors, while global players constitute ~5%. Some of the major players in the market include Rackspace, Verizon, Cisco, AT&T, Aryaka Networks, Juniper Networks, NEC Corporation, VMware, Telefonica, Cloud flare, Ciena Corporation, Wipro, and among others.

Recent Developments Related to Major Players

• In September 2022, Juniper announces its expansion to Apstra software. This will help Juniper enterprises, service providers, and cloud provider customers to manage their data center automation.
• In June 2021, AT&T introduced Cisco Webex Calling. AT&T Business offers Webex Calling with AT&T Enterprise to Cisco's Unified Communications Manager - Cloud (UCMC). It will support businesses in increasing digitization and process optimization. UCMC will increase reliability and effectiveness for all users of Webex Calling with AT&T-Enterprise.
• In March 2021, Verizon introduced NaaS. This new SDN and NFV solution allow businesses to switch to a virtual infrastructure paradigm, resulting in more agility and on-demand resources.
• In December 2021, Aryaka Networks introduced an "all-in-one" SD-WAN and SASE solution for diverse businesses. This decision has helped to increase company flexibility and accelerate cloud adoption.

Conclusion

The Global NaaS Market is forecasted to continue an exponential growth that is witnessed since 2017, during the forecast period is also, primarily driven by rising demand due to increasing digital transformation through data and networking technologies, such as IoT, blockchain, cognitive, and advanced analytics intensifies the adoption of connectivity advances in various industry. Though the market is highly competitive with over 500 participants, few global players control the dominant share, and regional players also hold a significant share.

Note: This is an upcoming/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 maximum 2 working weeks.

Ken Research has recently published report titled, Global Network as a Service Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, market is segmented by Type, Application, Enterprises, and End-User. In addition, the report also covers market size and forecasts for the region's four major regions' Network as a Service market. The revenue used to size and forecast the market for each segment is USD billion.

Market Taxonomy

By Type

• WAN
• LAN
• Bandwidth on Demand
• Data Connectivity Center

By Application

• Virtual Private Network
• Content Delivery Network
• Cloud Service Provider
• UCaaS/ Video Conferencing
• Integrated network security as a service

By Enterprises

• SMEs
• Large enterprises

By End-User

• Banking, Financial, Services, and Insurance
• Manufacturing
• Retail and eCommerce
• Healthcare
• Education
• Software and Technology
• Media and Entertainment
• Government
• Others

By Geography

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Italy, Spain)
• Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
• Latin America, Middle East and Africa (LAMEA)

High Adoption of EdTech sector and Increasing Investments from Venture Capital Firms are Driving India’s EduFin Market: Ken Research

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1. India’s EduFin market is expected to reach ₹ 30,000Cr in terms of loans disbursed in FY’26. The industry will be witnessing a leading CAGR in the next 5 years owing to adoption of EdTech sector.

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In India many companies are in the planning of launching their credit card for learners and students and aims to become the go-to financing solution for learners in all categories. The emergence of FinTech companies in the education sector will augment the spread of digitization in the country by promoting more and more people to embrace high-quality education and creating awareness amongst them, ultimately helping the market to grow more.

2. India is emerging as leading EdTech market by Revenue & an ever-growing market for Up-Skilling & Re-Skilling Courses.

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EdTech startups offer smart classroom solutions, adaptive learning platforms, and learning management systems, these factors combined with the inflow of investments, acquisition, up-gradation in offerings and more players quickly shifting and adding students are accelerating the digital learning movement. In the same way, The Government of India is promoting online learning in the country through initiatives like the SWAYAM programme and DIKSHA, to make education accessible to all students of the country.

3. Rapid internet penetration and online courses offering low-cost alternatives to offline learning to drive the EdTech sector in India.

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The growth of smartphones and the transition to digital learning paradigms in India are propelling the EdTech sector. The EdTech industry has witnessed exponential growth during the onset of Covid. Test Prep & Upskill and Reskill EdTech courses are anticipated to be the main drivers of the EdTech industry's growth in India. Despite the huge user growth that the EdTech sector is seeing, infrastructural limitations remain because of inadequate connectivity and subpar equipment. The industry is utilising cutting-edge technology like gamification of learning, artificial intelligence, and experiential learning tools, which are now altering how students prepare for exams and will do so in the future. The government's policy aims for online education are further encouraged by the National Education Policy (NEP) 2020. Several other initiatives such as DIKSHA, SWAYAM, ePathshala Portal, NISHTHA, OLabs, and Virtual Labs are expected to drive the EdTech industry in the future.

Global Surface Disinfectant Market is expected to reach a revenue of US$10 Bn by 2028: Ken Research

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According to Ken Research analysis, the global surface disinfectant market is expected to grow at a rate of about 10% CAGR over the next six years (2022-2028) and reach a revenue of US$10 Bn by 2028, owing to the growing incidences of healthcare-associated infections. Furthermore, an increase in product demand from non-healthcare industries, health clubs & gyms, and the outbreak of Covid-19 is likely to drive the growth of the market during the forecast period.

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Key Growth Drivers

• Increasing incidence of Healthcare-associated Infections (HAI) and the rising occurrences of chronic disorders are expected to propel the surface disinfectant market growth. For instance, the rising geriatric population and the prevalence of chronic illnesses such as blood pressure, obesity, diabetes, and heart disorders have been fueling the demand for surface disinfectants across health care facilities. As per the Centers for Disease Control report, published in 2018, healthcare-associated infections (HAI) cause about 1.7 million infections and 99,000 related deaths every year in America.

Furthermore, increasing product demand from non-healthcare settings like gyms, various types of industries, and offices is also driving the growth of this market.

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• Chemical surface disinfectants have some adverse impacts on the environment and acts as a major barrier for growth. For instance, hydrogen peroxide used in chemical surface disinfectants can cause portal vein thrombosis, gastrointestinal problems, mild mucosal irritation, and vomiting. 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, report health problems from being in a room after it has been cleaned by fragranced products which include surface disinfectants.
• The outburst of COVID-19 had a positive impact on the surface disinfectants market. The pandemic increased the need for surface disinfection and cleaning practices significantly. Multiple measures were being taken to curb the spread of the deadly virus, including disinfection and sanitizing surfaces. This increased the demand for surface disinfectants across the globe.

Key Trends by Market Segment

By Composition: The chemical composition segment dominated the global surface disinfectant market in 2021 and is estimated to continue being the dominant segment during the forecast years.

Biobased surface disinfectants are viewed as alternatives to their chemical counterparts owing to their non-toxic, biodegradable, and eco-friendly characteristics and are expected to have a higher CAGR during the forecast period.

• In June 2020, an article by Bhabha Atomic Research Center reported that Sodium hypochlorite (NaOCl) is one of the proven disinfectants and is being used in sanitization where 0.05-0.5% NaOCl is recommended by the World Health Organization and the Center for Disease Control and Prevention, whereas 1% is recommended by the Indian Council of Medical Research.
• 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.

By Form: The liquid form segment holds the highest market share in 2021 and is expected to remain dominant during the forecast period. This high share is attributed to a wider application of liquids in the industrial as well as the household sector for kitchen fixtures, glazed ceramic tile, windows, plastics, exterior surfaces of applications, vinyl, and glass. However, the spray form disinfectant segment is gaining popularity because of its easy application.

• In April 2020, ITC launched its product "Savlon Surface Disinfectant Spray in India to curb the spread of Covid-19. ITC acquired Savlon brand from Johnson & Johnson in 2015.
• In June 2019, Reckitt Benckiser Group PLC received the Environmental Protection Agency (EPA) approval for its Lysol Disinfectant Spray and Lysol Disinfectant Max Cover Mist for surface disinfection.

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By Application Type: The In-house application segment holds the largest market share in 2021 in the global surface disinfectant market and is expected to remain dominant during the forecast period. The large market share of this segment is attributed to the wide usage of surface disinfectants in the premises of hospitals & clinics, households, residential areas, industries, and commercial spaces.

• In June 2021, Unilever’s brand Lifebuoy introduced BotaniTech product range to bring the brand’s market-leading hygiene expertise to the home.

By End-user: The Hospital & Clinics segment is estimated to account for the largest market share in the global surface disinfectant market during the forecast period due to their vulnerability to infections caused by viruses, bacteria, and fungi.

As per the Centers for Disease Control report, published in 2018, healthcare-associated infections (HAI) cause about 1.7 million infections and 99,000 related deaths every year in America.

By Geography: North America accounted for the largest market share in 2021 among all regions within the total global surface disinfectant market.

• The increasing healthcare expenditure in North America and an increase in the number of temporary hospitals are some of the major factors boosting the demand of surface disinfectants in North America.
• Countries like India and China in the Asia Pacific region have a larger population, with a higher level of health and hygiene awareness and this will lead to higher growth of the surface disinfectant market in these regions.
• According to Global Cancer Observatory data (2020) the estimated prevalent cases of cancer all over the globe in 2020 accounted for 19,292,789. Out of which Asia had 9,503,710 of the total prevalent cases, Europe accounted for 4,398,443, North America had 2,556,862, Latin America and the Caribbean had 1,470,274, and Africa accounted for 1,109,209 of the total prevalent cases. The increase in the prevalence of cancer is expected to increase the number of surgeries, and thus is expected to increase the demand for surfactant disinfectants across healthcare settings.

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Competitive Landscape

The Global Surface Disinfectant market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players. Large global players control highest share of the market in terms of revenue, while regional players hold the second largest share. Some of the major players in the market include Reckitt Benckiser Group PLC, The 3M Company, SC Johnson Professional, Procter and Gamble, Evonik Corporation, Unilever, The Clorox Company, Ecolab, Kimberley-Clark Corporation, Medline Industries, Inc., Diversey, Inc., Zep Inc. and among others.

The leading global companies such as Reckitt Benckiser Group PLC, The 3M Company, SC Johnson Professional, and Procter and Gamble are highly focused on providing a significant number of chemical-based surface disinfectant products that can be used across the globe by healthcare industries, households, and industrial users.

Recent Developments Related to Major Players

• In May 2020, Ecolab (US) acquired Holchem Group to strengthen its hygiene and cleaning products and services portfolio for the food & beverage, food service, and hospitality industries.
• In April 2021, Unilever partnered with LanzaTech and India Glycols to produce a surfactant made from industrial carbon emissions instead of fossil fuels. Additionally, 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 2019, Ecolab Inc., acquired the business of privately held Chemstar Corporation, a U.S.-based supplier of food safety and cleaning and sanitizing solutions focused on the grocery and food retail markets.

Conclusion

The Global Surface Disinfectant market is forecasted to continue an exponential growth that is witnessed since 2020, which is primarily driven by growing incidences of healthcare-associated infections, increasing product demand from non-healthcare Industries, outbreaks of infectious diseases like Covid-19. Though the market is highly competitive with ~250 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/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 maximum 2 working weeks.

Ken Research has recently published report titled, Global Surface Disinfectant Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, market is segmented by Composition Type, Form, Application type, and End-User. In addition, the report also covers market size and forecasts for the world’s major regions' surface disinfectant markets. The revenue used to size and forecast the market for each segment is US$ Billion.

Market Taxonomy

By Composition Type

• Chemical Based
• Biobased

By Form

• Liquid
• Wipes
• Spray

By Application Type

• In-house Surfaces
• Instrument Disinfection
• Others

By End-user

• Hospital & Clinics
• Households
• Laboratories
• Hotel/Restaurants/Cafes
• Educational Institutes
• Others

By Region

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest Of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia Rest of Asia Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Global Medical Tourism Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Medical Tourism Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2028) reaching ~US$ 100 billion by 2028, owing to an increase in demand for low-cost and high-quality treatment for the diagnosis and treatment of various diseases including cardiovascular, neurological, and others.

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Key Growth Drivers

• The growing demand for low-cost medical treatment in developing countries and rising awareness about medical tourism among patients are some of the factors driving the market growth.
• The lack of healthcare insurance coverage and inadequate insurance benefits are anticipated to encourage patients to travel outside their country to seek high-quality and low-cost medical treatments, which is likely to boost the demand for the medical tourism market globally.
• The availability of high-quality treatment in developing countries along with growing demand for non-covered procedures including dental reconstruction, reproductive therapy, gender reassignment surgery, aesthetic surgery, and others, are expected to aid the growth of the Global Medical Tourism Market.
• The Global Medical Tourism Market faces challenges due to difficulty with patient follow-up and post-surgery complications.
• The difficulty in taking patient follow-up after treatment for any kind of infection, particularly antibiotic-resistant infections, or other safety risks is the most significant barrier to the growth of the Global Medical Tourism Industry.
• The COVID-19 pandemic negatively impacted the Medical Tourism Market owing to significant travel restrictions due to which patients were unable to seek medical treatments. Moreover, the pandemic created difficulties related to sharing patients’ medical information between domestic and overseas medical institutes due to the interruption of medical tourism.

Key Trends by Market Segment:

By Treatment Type:  The oncology treatment segment held the largest share of the Global Medical Tourism Market in 2021, owing to the rising incidences of cancer globally.

Medical tourism for the treatment of cancer is preferred due to expensive prolonged oncology treatments and the lack of advanced technologies in some countries, due to which patients choose to travel to other countries that offer advanced technology and low-cost treatment. The above-mentioned factor is expected to fuel the growth of the market.

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By Service Provider: The private segment accounted for the largest share of the Global Medical Tourism Market in 2021, due to the availability of digital systems, advanced medical infrastructure, and value-based care at low cost.

The increasing demand for private medical service providers offering high-class medical service is anticipated to attract tourists and propel the growth of the segment in the Global Medical Tourism Market.

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By Geography: Asia-Pacific region accounted for the largest share of the Global Medical Tourism Market in 2021, due to the availability of inexpensive flights, low-cost treatment, and increasing marketing and availability of online information for medical services.

The increase in government initiatives and investment to improve healthcare infrastructure coupled with the availability of quality care at a relatively low cost of treatment is expected to augment the growth of the region in the Global Medical Tourism Market.

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Competitive Landscape

The Medical Tourism Market is highly competitive with ~500 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in medical tourism.

Country-niche players constitute ~93% of the market, while the regional players are the second largest by type. Some of the major players in the market include Aditya Birla Health Services Ltd., Apollo Hospitals Enterprise Ltd., Fortis Healthcare,  Asian Heart Institute, KPJ Healthcare Berhad, Nippon Telegraph and Telephone East Corporation, Samitivej PCL, Wooridul Spine Hospital, Seoul National University Hospital, and Prince Court Medical Centre, among others.

The leading global medical tourism companies such as KPJ Healthcare Berhad, Fortis Healthcare,  Asian Heart Institute, and Wooridul Spine Hospital are highly focused on collaborating with governmental bodies, policymakers, travel agents, and others to maintain their position in the market.

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Recent Developments Related to Major Players

• In September 2022, KPJ Healthcare Berhad collaborated with Tourism Johor to continue its efforts towards enhancing the visibility of health tourism. The company is focusing on offering high-quality service at affordable rates.
• In November 2019, Seoul National University Hospital was accredited for a three-year term by Global Healthcare Association (GHA) for its medical travel service program. The GHA’s flagship program helped the company to enhance its patient experience for medical travelers and improve productivity and business performance.

Conclusion

The Global Medical Tourism Market is forecasted to continue a rapid growth, primarily driven by the surging demand for high-quality treatment at affordable prices. The increasing initiatives by governmental bodies to improve the healthcare infrastructure and offer cutting-edge technology, better healthcare, breakthrough medicines, and improved hospitality is further fueling the growth of the market. Though the market is highly competitive with ~500 participants, country-niche players control the dominant market share.

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.

Ken Research has recently published report titled, Global Medical Tourism Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four region's Medical Tourism Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Treatment Type	Cardiovascular Treatment Orthopedic Treatment Cosmetic Treatment Bariatric Treatment Dental Treatment Oncology Treatment Infertility Treatment Neurological Treatment Others
By Service Provider	Public Private
By Geography	North America US Canada Mexico Costa Rica Europe Germany UK France Spain Belgium Austria Rest of Europe Asia-Pacific China Thailand South Korea India Indonesia Australia Malaysia Singapore TaiwanRest of Asia Pacific LAMEA Latin America Middle East Africa
Key Players	Aditya Birla Health Services Ltd. Apollo Hospitals Enterprise Ltd. Fortis Healthcare Asian Heart Institute KPJ Healthcare Berhad Nippon Telegraph and Telephone East Corporation Samitivej PCL Wooridul Spine Hospital Seoul National University Hospital Prince Court Medical Centre