Europe Wheat Protein Market expected to grow with CAGR of ~6% by 2028

 Wheat flour is added as a vital ingredient in convenience food items such as bakery and confectionery products, snacks, and ready-to-eat foods to improve the texture and profile of the food product.  The region's consumption of ready-to-eat food and beverages increased noticeably over the past few years.

STORY OUTLINE

• According to Ken research, the European Wheat protein market at a CAGR of ~6% during the forecast period (2023-2028).
• Factors driving the Europe Wheat protein market are rising consumer demand.
• Challenge like substitutes for wheat protein hinder the growth of Europe protein market growth
• Outlook of Europe wheat protein market is expected to grow higher due to high consumption and demand arising factors.

1. Growth of European Wheat protein market is getting higher with ~6% CAGR.

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In Europe more than half of cereals grown are wheat, therefore it is the world's largest wheat producer, contributing 139 million metric tons in 2021. This is making the growth of European wheat protein market at a CAGR of 5.87% by 2028.

Due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing European countries are inclining more toward convenience foods, bolstering the market's growth.

According to OECD, Europe's per capita wheat consumption increased from 89.5 kg in 2020 to 90.04 kg in 2021. This increase in consumption is also supported by the rise in the area harvested under wheat.

The area harvested under wheat is 70.1 in 2020 and 71.2 in 2021. Thus, the increasing land under wheat cultivation is pushing production, thereby increasing the per capita consumption of wheat. It leads to the wheat market growth during the forecast period.

2. Which are the driving factors for the growth of Europe Wheat protein market?

Other driving factors of Europe wheat protein market

Growing consumer demand for convenience food products is bolstering the growth of the wheat market in Europe. The rise in urbanization changed consumption patterns and made people tend towards more convenience foods such as bread, confectionary, etc.

Along with this, consumers are interested in nature, convenience, and indulgence, and they are moving away from home consumption, which means less time spent on home food preparation and consumption.

Nutritional advantages are one of the major growing drivers of wheat market in Europe due to increasing lactose intolerant and health – conscious customers.

It is also used in cosmetic and personal care industry. Popularity in muscle building and athletic population is also an important factor, which is used to drive the growth.

3. Challenges faced by Wheat protein market which hinder their growth

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One of the main reasons, which could hinder the growth of the Europe Wheat protein market are the availability of close replacements like plant-based proteins.

In addition, the technological advancements are limited in the sector of wheat protein. Unlike other proteins like Whey etc. which are significantly working in their R&D department.

The other major factors that could risk the market are the health issues arising due to using high protein powders, fluctuations in raw material prices and supply chain interruptions due to pandemic.

Wheat protein also caused gluten related illness and its hindering the market. However, University of Cambridge has issued an article about the facts and misconceptions about gluten as many individuals ignore gluten due to false beliefs like having coeliac disease from gluten consumption.

In Europe, currently, the UK, France, and Russia are the hardest-hit countries by the COVID-19 outbreak. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in the supply chain.

The disruptions in the supply chain, the shutdown of manufacturing units, and labor shortages had a negative impact on the wheat protein market.

4. Outlook of European protein wheat market is expected to grow higher

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Consumers increasingly prefer plant-based proteins such as wheat protein due to the high demands of meat-based protein. Germany is being an attractive market for manufacturers and exporters and it will grow in coming years due to increasing demand.

The key players in the market are ADM, Cargill, and MGP Ingredients. It is expected to grow at a CAGR of ~6% from 2023 to 2028. Two major trends that are shaping the wheat protein market are the scaling demand for clean label products and the emerging shift toward vegan and vegetarian diets. The movement for the clean label has driven the demand for sustainable and straightforward ingredients.

The Future of UK Agricultural Equipment Market: A Path Towards Sustainability and Efficiency

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Projected at a CAGR of around ~3.5% (2022-2027), the UK's Agri equipment market grew during 2014-2018 but contracted sharply in 2019-2020 due to the COVID-19 pandemic.

STORY OUTLINE

• Precision agriculture tech, like GPS-guided tractors and drones, is set to revolutionize UK farming, enhancing efficiency through informed decisions on planting and irrigation.
• The UK's net-zero commitment spurs demand for eco-friendly equipment. Electric tractors and soil-friendly machinery address environmental concerns and promote sustainable farming practices.
• Government incentives for sustainable practices and modern equipment are expected to boost market growth. Subsidies may lead to a 10% rise in equipment sales by 2025.
• Farmers unite for cost-effective solutions through machinery sharing. Community-driven ownership models not only save expenses but also foster a sense of unity among farmers.

According to Ken Research, As the UK strives to achieve sustainable farming practices and address environmental concerns, the agricultural equipment market will continue to evolve, presenting both opportunities and challenges for farmers, manufacturers, and policymakers alike. Staying informed about these trends will be essential for stakeholders to navigate the evolving landscape successfully.

The United Kingdom's agricultural landscape is evolving rapidly, driven by technological advancements, environmental concerns, and shifting consumer preferences. The agricultural equipment market, a crucial component of this evolution, is witnessing transformative changes that are set to shape the future of farming in the UK. This article explores key trends and statistics that provide insights into the future of the UK agricultural equipment market.

1. Technological Advancements for Precision Agriculture

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Precision agriculture technologies are poised to become integral to the UK farming sector's future. According to recent industry reports, the adoption of precision farming tools is projected to increase by over 20% annually.

These technologies, including GPS-guided tractors, sensor-equipped drones, and data analytics platforms, enable farmers to optimize their operations by making informed decisions about planting, irrigation, and fertilization.

2. Sustainability as a Driving Force

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Sustainability is a key driver of change in the agricultural equipment market. The UK government's commitment to achieving net-zero carbon emissions by 2050 has catalyzed efforts to develop eco-friendly farming practices.

Consequently, there is a growing demand for agricultural equipment that reduces environmental impact. Farm machinery manufacturers are investing in the production of electric and hybrid tractors, autonomous machinery, and equipment that minimizes soil compaction and chemical use.

3. Government Initiatives and Policies

Government policies and initiatives are expected to play a pivotal role in shaping the future of the agricultural equipment market. Subsidies and grants that incentivize farmers to adopt sustainable practices and invest in modern machinery are likely to gain prominence.

These policies align with the UK's focus on sustainable agriculture and may significantly impact market growth. Experts project that government support for agricultural technology adoption could lead to an overall 10% increase in equipment sales by 2025.

In Conclusion, the future of the UK agricultural equipment market is undergoing a transformation that is reshaping the way farmers approach their operations. The integration of precision agriculture technologies, emphasis on sustainability, and collaborative ownership models are poised to drive significant changes.

Why UAE’s Debt Collection Industry is poised for growth despite the many challenges it faces in a competitive market? : Ken Research

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In this enlightening whitepaper, we delve into the intricacies of the UAE's debt collection industry, which has witnessed a formidable surge in growth over the last five years. Amidst this backdrop of remarkable expansion, the industry now confronts a shifting terrain marked by emerging challenges and evolving bottlenecks. But with newer challenges and evolving bottlenecks, will the industry’s robustness decline? Check out the entire whitepaper to find out more.

1. The Debt Collection Industry in UAE experienced a high volume of cases due to ease of credit availability & the industry saw a ~11% Compound Annual Growth Rate (CAGR) between 2017-22

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2. The increasing use of technology for better recovery predictions, enhancement of people skills of collectors and improvement in KSA legal system act as catalysts for the industry…

2.1…While, talent shortage, increasing labor costs and high default rates are major concerns for the incumbent players in the market

2.2 Moreover, High capital requirements and switching costs for customers create barriers for new entrants within the industry

3. But, the Debt collection platforms integrated armed with latest tech is starting to transform the entire debt recovery process for clients

4. The pandemic-induced financial trends, a greater emphasis on NLP techniques, and maintaining proper documentation will act as key growth drivers that will enable a double-digit CAGR over the next 5 years

Some of the Intelligence Curated by Ken Research in Debt Collection Market Space:

• MENA Remittance Market Outlook to 2027 segmented by mode of transfer (digital, traditional), type of channel (Banks, online platforms, money transfer operators), type of end use (migrant labour workforce, personal, small business & others) Geography (Latin America, Africa, Asia Pacific, Europe, Middle East)
• Australia Cards and Payment Market Outlook to 2027F By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATMs), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)
• Brazil Cards and Payment Market Outlook to 2027F By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATMs), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)
• Global Remittance Market Outlook to 2027 segmented by mode of transfer (digital, traditional), type of channel (Banks, online platforms, money transfer operators), type of end use (migrant labour workforce, personal, small business & others) Geography (Latin America, Africa, Asia Pacific, Europe, Middle East)
• India Payment Service Market Outlook to 2027F driven by government initiatives & rising need for faster payment modes

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UAE Debt Collection Market

SABIC, Ma'aden, Zamil Steel, Tasnee Lead Middle East Metal Working: Ken Research

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These companies are playing a crucial role in uplifting the trade & manufacturing within the region, keeping sustainable practices in mind

In the dynamic landscape of the Middle East, Zamil Steel and Tasnee stand as catalysts, shaping the region's infrastructure and transport arena. With Zamil Steel's prowess in pre-engineered steel products and Tasnee's leadership in metal production, their collaborative efforts are ensuring Middle East region’s substantial progress. Amidst these transformative endeavors, SABIC and Ma’aden's strategic engagements further encourage the trajectory of growth and sustainability.

Story Outline

• According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.
• SABIC's global trade reach and Ma'aden's investments fortify the region's economic standing. Ma'aden's alignment with Vision 2030 and sustainability goals demonstrates their commitment to responsible practices, setting a framework for eco-friendly development in the metalworking industry.
• Tasnee's industrial vending machines and Zamil Steel's extensive steel fabrication bolster Middle East manufacturing, providing direct access to essential supplies and contributing to growth across diverse sectors.
• Zamil Steel and Tasnee are known for steel and metal innovations for Middle East infrastructure, seen in projects like the Formula One circuit and logistics partnerships.

1. Zamil Steel and Tasnee: Shaping Middle East's Infrastructure and Transport Landscape

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The Middle East region is gradually trying to increase its manufacturing industry. Many leading companies like Tasnee have launched a private pilot service for industrial vending machines. These machines aim to provide industry consumables & maintenance, repair & operations parts to the end users directly.

So far, Zamil Steel has produced a total of 500,000 MT of fabricated steel of low- & high-rise steel building through 10 state-of-the-art facilities in Middle East, Africa & Asia for industrial, commercial, agriculture, aviation & military application & support of infrastructure & development projects.

According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

2. SABIC’s Global Trade & Ma’aden’s Strategic Investments

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Middle East countries have had a strong trading relation with countries like Europe, Asia & Africa. In 2022, Saudi Basic Industries Corporation (SABIC) has successfully maintained it’s trade with customers in over 130 countries & have partnered with leading logistics providers to sustain transportation & storage costs & successfully deliver products globally.

Saudi Arabian mining company Ma’aden & the Public Investment Funds have signed a binding agreement to acquire a 10% stake in Vale, a Brazilian base mental companies to derive global investments.

3. Ma’aden’s Commitment to Environmental Responsibility in the Metalworking Industry

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Metalworking industries require to address environmental concerns to meet regulatory requirements & align with market expectations. Ma’aden has sustainability values in place with Ma’aden strategy policy built till 2030 & they take Vision 2030 for Saudi Arabia, International Council on Mining & Material & the Sustainable Development Goals given by UN. These ensure that there is a best-practice framework for sustainable development in the metal & mining industry.

Conclusion

In the ever-evolving landscape of the Middle East's infrastructure and manufacturing sectors, companies like Zamil Steel and Tasnee have played crucial roles, when it comes to the region & international growth of the metalworking market. With Zamil Steel's impressive track record in pre-engineered steel products and Tasnee's innovative approach, they are shaping the region's future. These endeavors align with broader strategies, such as SABIC's global trade reach and Ma'aden's sustainable commitments, showcasing a harmonious blend of economic progress and environmental responsibility for a brighter tomorrow.

Can the US Online Sports Betting Market reach a CAGR of 12% by 2028? : Ken Research

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With multiple sports betting organizations competing and flowing up with fund raisers and trustworthy partnership and with the leading betting sports being ‘The NFL’, the US Online Sports Betting Market is projected to rise to a CAGR of ~12% by the year 2028.

STORY OUTLINE

• The turning down of Professional and Amateur Sports Protection Act led to companies to shift from illegal to legal growth.
• With increased smartphone adoption and high amount of internet penetration, market growth skyrocketed over the years.
• ‘The NFL’ makes maximum market output in the US online sports betting market.
• Rise in fan engagement and incorporation of new betting products will pave a new way for rise in the US online sports betting market.

1.The turning down of Professional and Amateur Sports Protection Act led to companies to shift from illegal to legal growth.

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• The PASPA or Professional and Amateur Sports Protection Act was turned down in 2018 by the Supreme Court, making betting legal.
• Supreme Court reviewed case Murphy v NCAA, stating that it violated Tenth Amendment of the United States Constitution.
• New Jersey had a rough toe-to-toe with NCAA regarding the legalization of sports betting in Atlantic City, where the plaintiff won with majority votes.
• The bringing down of PASPA, made the other legislative states to work with legalising sports betting.

According to Ken Research, the US Online Sports Betting Market is rising with a surge in enormous fan base, social media connectivity and increased smartphone and internet penetration, has marked a rise in the market. With major players like DraftKings, FanDuel, BetMGM, Caesars Entertainment, PointsBet, market surge is evident with legal betting, a projected CAGR of ~12% by the year 2028 is to be observed. The NFL is currently the leading growth maker which is currently making the most percentage of output for the US Online Sports Betting Market.

2.With increased smartphone adoption and high amount of internet penetration, market growth skyrocketed over the years.

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• With a 93% increase in smartphone adoption, US online sports betting market is going through an advantageous rise in growth.
• Global digitization has led to a 98% increased internet penetration, leading to the proper adoption of online sports and legal betting.
• With 5G infrastructure, US skyrockets in the adoption of online sports betting with profiting for both sides; companies and users.
• The prevalence of smartphones and robust internet connectivity has facilitated the rise of in-play betting and live streaming, marking a proper growth.

3.‘The NFL’ makes maximum market output in the US online sports betting market.

• With enormous Fan base and longer sessions, The NFL has a massive fan engagement running from September through January with culminating in Super Bowl.
• Online sports betting platforms offer a wide range of betting markets for NFL games, including point spreads, moneylines, over/under totals, player prop bets, and more.
• Via official league sponsors or through deals with the individual teams, NFL increases the visibility of online betting.
• With the new Fantasy football, at least 70% of the sports engagers create virtual teams with real NFL players betting on player performances, boosting the market growth.

4.Rise in fan engagement and incorporation of new betting products will pave a new way for rise in the US sports betting market.

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• With 51 Mn people betting on super bowl, a massive surge of the US online sports betting market is seen.
• At least 2 out of 5 people are betting on the super bowl, resulting in the standing population that are currently increasing the market size constantly.
• With the increasing number of bets placed, US crosses over 1 Bn USD over the course of years.
• With Social media integration and community aspects, betting becomes more influential for a long period of 5 months every year, rising the growth even more.

CONCLUSION

The US Online Sports Betting Market had once been restricted from legally being organized in any state, except for a few. But with the removal of PASPA, the traditional betting market along with the online sports betting market has made exceptional growth. With everyday rising fan base and high penetration of internet and smartphone, The US Online Sports Betting Market propels itself towards the top every year.https://kenresearch.hashnode.dev/can-the-us-online-sports-betting-market-reach-a-cagr-of-12-by-2028-ken-research

US LI-ION Battery Market is Expected to reach ~USD 40 Bn by 2028: Ken Research

 United States is facing a huge demand of Lithium batteries due to growing electrification in west with growing at the rate of 25.36% by 2028. Demand for lithium batteries in the US is expected to grow translate into $40 billion per year by the end of 2028, but still the country is expected to depend on imports for supply.

• According to Ken, the US lithium-Ion battery is expected to reach ~USD40 bn until 2028.
• Factors driving the US Lithium-Ion battery market are increasing degree of hybridization and electrification, heavy demands and sustainable development.
• Trending technological advancements like Lithium Ferro Phosphate in batteries is making it accessible and easily transferrable.
• Safety and storage is a major challenge in the way of Lithium ion markets in USA.

1. Growth of Lithium-Ion market in America is sky rocketing with ~25% CAGR.

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The US Lithium-Ion market is expected to grow from in ~14 billion in 2023 and grow at a CAGR of ~25% by 2028.USA is the largest country market with the maximum production of Lithium-Ion batteries in North America.

US Lithium-Ion market is growing due to high demands of e-vehicles and it act as the sustainable solution of major transport system. Also major car companies are switching from traditional batteries to Lithium ion batteries, which act as a major change for lithium ion batteries.

2. Which are the driving factors for the growth of Lithium-Ion market in USA?

Other driving factors of US Lithium-Ion Market

The usage of lithium batteries is expected to raise due to the penetration of electric vehicles. It is anticipated to provide a massive impetus for the industry's growth in North America. The launching of various types of HEV’s and EV has led the increasing of hybridization and electrification. Until 2021, according to IEA, US has over 1.7 Mn EVs and over 500000 HEVs in 2019 and they continue to increase.

US is also to be expected to launch a range of EV models. In addition, falling lithium-ion battery prices and improving technology are expected to bring price-competitive electric vehicles to the market, creating demand for lithium-ion battery technologies in the near future.

High demand for sustainable development is also a leading factor for the growth of the market.

3. Is Lithium Ferro Phosphate is the new trend in US lithium battery market?

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The surge in demand for lithium iron phosphate (LFP) batteries in devices such as which are portable in nature and growing need for durable and efficient batteries are driving the growth of the segment.

Automotive lithium-ion (Li-ion) battery demand increased by about 65% to 550 GWh in 2022 making the market a highlight is USA. CAFE standards mandated fuel economy standards for passenger cars and Light Commercial Vehicles resulting in the expansion of electric drive technologies.

Government’s policies on environment friendly transportation is also a trending factor in rise of lithium battery products. The US Department of Energy announced in June that it was allocating more than $192 million in new funding for recycling lithium-Ion batteries from consumer products.  In recognition of its ongoing importance in informing larger battery recycling efforts, DOE is announcing $7.4 million to fund a new Breakthrough Contest, as well as Phase IV of the Prize.

In February 2023, Ascend Elements announced a basic agreement with Honda Motor Co. Ltd to collaborate on stable procurement of recycled lithium-ion battery materials. Ascend is a United States-based battery recycling and engineered materials company. Yoshino Technology announced the development of solid-state lithium-ion batteries with outputs ranging from 330 W to 4,000 W designed for home backup, off-grid applications, and powering small industrial machinery.

4. Which are the obstacles in the growth in lithium-Ion market in US?

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Safety and storage in Lithium-Ion batteries is a major drawback in the lithium-Ion market. Heavy pricing of the vehicles using LI-ion batteries leads to the abstain in the market growth.

The production of Li-ion batteries is resource-intensive and can generate significant environmental impacts. In addition, Lithium, cobalt, nickel, and other key materials used in Li-ion battery production have faced significant supply chain disruptions and price fluctuations in recent years.

Aging of lithium-ion batteries and issues with overheating of lithium-ion batteries are projected to challenge the lithium-Ion battery market. Key players in this sector are Panasonic Corporation, Duracell Inc., Samsung SDI Co. Ltd, LG Chem Ltd and Tesla Inc.

US Powered Surgical Instruments Market is Projected to be ~ $12 Bn by 2028, Innovations and Advancements Drive Growth: Ken Research

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The US Powered Surgical Instruments market is witnessing huge growth in terms of expansion and revenue. The primary growth drivers of this market are advancements in technology, rising healthcare expenditures, minimally invasive surgery (MIS) trends, growing prevalence of chronic diseases.

STORY OUTLINE

• As the market for UDI keeps increasing, the demand for compliance-enabling technology, such as surgical tool monitoring systems will increase 10% by 2024.
• Technological advancements in this sector boosted remote and robotic-assisted surgeries, in 2022, 16% of robotic surgeries were recorded in the USA.
• To remain competitive in the market for the long term, companies are investing hugely in the R&D department to gain a competitive edge over their rivals.

According to Ken Research, innovations and advancements in technology are one of the major variables that are synergistic affecting the expansion and growth of US Powered surgical instruments. In America, nearly 50% the adults have one or more chronic health conditions and one in four adults have more than two chronic health conditions. Additionally, around 40% of Americans suffer from cardiovascular diseases that include hypertension and Cancer.

1. Impact of Covid-19 on US Powered Surgical Instruments Market

• In 2020, when the pandemic was at its peak, to diminish infectious risk the government announced a temporary ban on elective surgery across the country.
• During the pandemic time, the powered surgical instruments market witnessed a drop of around 12% as the supplies of surgical instruments were temporarily stooped. Low availability and increased struggles in terms of transport of surgical instruments resulted in a sudden shortfall in raw materials.
• Major hubs of research facilities for powered surgical instruments across America were shut down. Additionally, the requirement for social distancing and infection control provoked the investigation of remote and robotic-assisted surgeries. This move has quickened the adoption of technologies that require powered surgical instruments.

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2. Current Situation of US Powered Surgical Instruments Market

• Post-pandemic the market is set to reach a record market value by the end of 2028. The US Powered Surgical Instruments Market is projected to grow at a CAGR of 8.0 % from 2022 to 2028.
• As the number of instruments subject to UDI keeps increasing, it is projected that the demand for compliance-enabling technology, such as surgical tool monitoring systems, would expand by 20% in the forecast period. Regulating standards for traceability from supplier to patient have also been established by numerous different governmental entities.
• The demand for OEMs is estimated to further increase because original equipment manufacturers (OEMs) and medical technology have a lot of chances in the surgical equipment market across the nation. This is due to the rising demand for surgical sutures and staples.

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3. Growth Drivers of the US Powered Surgical Instrument Market

• The US Powered Surgical Instrument Market is driven by various variables. Some of the major growth drivers of this market are advancements in technology, rising healthcare expenditures, minimally invasive surgery (MIS) trends, growing prevalence of chronic diseases.
• Technological advancements in this sector have made remote and robotic-assisted surgeries possible, in 2022 16% of robotic surgeries were recorded in the USA. Surgeons and healthcare suppliers look for the latest instruments to improve patient outcomes and upgrade surgical methods.
• The expanding healthcare spending within the US has contributed to the selection of advanced surgical technologies, counting powered surgical instruments. Hospitals and healthcare offices invest in cutting-edge equipment to supply superior patient care and draw in top medical experts.
• The shift towards minimally invasive surgeries (MIS), which offer diminished patient trauma, shorter recovery times, and fewer complications, has driven the request for powered surgical instruments.

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4. Major Players of the US Powered Surgical Instruments Market

• Johnson & Johnson., B. Braun Melsungen Ag., Stryker Corporation., Medtronic PLC., Smith & Nephew., Zimmer Biomet., ConMed., Smith & Nephew, Ethicon US, LLC, and Desoutter Medical Ltd are active in the US Powered Surgical Instruments.
• Stryker Corporation, Medtronic, and Johnson & Johnson are the leading players in the US Powered Surgical Instruments. Alongside America, these companies hold a major market share of the Powered surgical instruments industry in North America
• The market is set to become more competitive as due to rising market size industry will face several new entrants. This will help the market to remain competitive and invest more in the R&D department.

Conclusion

The US Powered surgical instruments market is expected to grow positively in the next five years with a projected CAGR of 8.0%. The market is reaching new heights due to several factors affecting the market like advancements in technology, rising healthcare expenditures, minimally invasive surgery (MIS) trends, growing prevalence of chronic diseases. The market was impacted negatively due to the widespread of covid-19 but it showed remarkable growth in the post-pandemic period. Leading players in the market like Johnson & Johnson, Stryker, and Medtronic are dominating the market and the industry will get more competitive with the arrival of new entrants in coming years.

Decoding KSA Warehousing Automation: Demand and Supply Insights: Ken Research

 Saudi Arabia (KSA) drives warehousing automation as a regional logistics epicenter, fueled by a consolidated market and booming e-commerce demand.

Storyline

• Saudi Arabia's infrastructure initiatives drive demand for automated warehouses.
• Growing demand for cold storage services presents growth opportunities.
• Focus on e-commerce and retail fuels demand for automation.
• As per Ken Research estimates, Warehousing and logistics industry poised to undergo a transformative automation phase.

Existence of a consolidated market scenario amongst the growing warehousing automation industry globally, KSA’s government has made the push to turn the nation into a Regional Logistics Epicenter necessitating automation as the key parameter for a Regional Logistics Chain, enabling faster growth of KSA’s warehouse automation industry. On the other hand, an unprecedented surge in E-commerce market has balanced the demand side of the market. In this piece, we uncover the industry landscape, demand & supply side of KSA’s Warehousing automation industry.

1.Supply side boost: Government Plans and E-commerce Fuel Automated Warehouses in KSA.

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Saudi Arabia's ambitious government infrastructure plans, including initiatives like NEOM, The Red Sea, ROSHN, and the National Industrial Development & Logistics Program (NIDLP), have created a solid foundation for the logistics network in the country. These developments, supported by a $35 Bn allocation for logistics infrastructure, have led to an increased demand for automated warehouses. (~$ 100 Bn in its transportation & logistics infrastructure) The focus on efficiency, speed, and accuracy in the supply chain has made the implementation of automated warehouse solutions essential. This growing demand is driven by the booming e-commerce industry's evolving requirements, the need to streamline operations, and ensure timely deliveries.

2.Demand Surge: Saudi Arabia's Rise as a Transshipment Hub Spurs Demand for Affordable Modern Warehouse Solutions.

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The rising demand for cold storage services in Saudi Arabia, primarily driven by the food and beverage (F&B) and pharmaceutical sectors, is leading to significant growth opportunities. To cater to this demand, companies are adopting asset-light models and relying on third-party logistics (3PL) providers who offer specialized cold storage solutions, given that only 5% of the warehouses are currently automated. These providers leverage innovative technologies to ensure efficient operations and maintain the quality and integrity of stored products. As a result, companies are strategically expanding their warehouses and investing in cutting-edge solutions. This transformative phase is focused on meeting the evolving needs of the F&B and pharmaceutical sectors while gaining a larger market share.

3.“A balance to be the solution:” The demand and market share of e-commerce and retail is expected to increase in the future due to increasing focus towards reducing the overall sales cycle duration.

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Experience the transformative power of automation as it reshapes the warehousing and logistics landscape, propelling the retail and e-commerce industry into a new era. In this fast-paced world, e-commerce automation software becomes the key driver, enabling businesses to focus on their core strengths and strategic goals. The adoption of automated warehouse management systems empowers 3PL companies to achieve unprecedented efficiency, accuracy, and real-time inventory visibility, while reducing costs and enhancing customer service. As per our estimates at Ken Research, the market will grow at a steady pace undergoing transformative warehouse automation process.

 

USA Agri Equipment Market on Track for 10.5% CAGR by 2027: Ken Research

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The United States agricultural equipment market is primed for a significant growth trajectory in the coming years, with projections indicating a CAGR of ~10.5% by the year 2027. 

STORY OUTLINE

• The USA's agricultural equipment market is set to achieve a remarkable CAGR of ~10.5% by 2027, reflecting a dynamic and robust industry outlook.
• The integration of cutting-edge technology, including precision agriculture and data analytics, is redefining farming practices, optimizing yields, and minimizing resource wastage.
• Favorable government policies, subsidies, and incentives are pivotal in fostering innovation and leveling the agricultural playing field, driving the market's upward trajectory.
• The market's alignment with sustainability goals through eco-friendly machinery and resource-efficient practices signifies its commitment to economic viability and environmental responsibility.

The USA's agricultural equipment market is poised to experience substantial growth in the upcoming years, with forecasts pointing towards an impressive Compound Annual Growth Rate of around ~10.5% by 2027. This noteworthy surge results from a combination of influences, spanning from technological progress to evolving agricultural methods, showcasing the market's durability and flexibility.

A Governmental Boost to Agricultural Innovation:

The impending growth of the USA Agri equipment market is also buoyed by governmental support and incentives. Policies offering financial aids, subsidies, and tax breaks have cultivated an environment conducive to technological adoption and innovation. These incentives not only alleviate financial pressures on farmers but also facilitate the transition to modern machinery. The collective drive towards enhancing competitiveness and leveling the playing field across the agricultural spectrum has set the stage for sustained growth.

Sustainable Agriculture as a Catalyst:

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The market's promising trajectory is further underscored by its increasing alignment with sustainability imperatives. Amid growing environmental concerns, the demand for eco-friendly agricultural machinery has surged.

The incorporation of energy-efficient technologies and reduced emissions not only augments productivity but also reflects a commitment to environmentally responsible practices. Sustainable methodologies, such as precision irrigation and reduced tillage, are making strides in resource conservation, ensuring economic viability while honoring environmental stewardship.

Market Diversity and Innovation:

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The agricultural equipment market's journey towards a ~10.5% CAGR is facilitated by its adaptability to diverse agricultural needs. The USA's expansive landscape fosters a wide array of crops, each with distinct planting, cultivation, and harvesting requirements.

Manufacturers have responded by developing specialized machinery tailored to these unique demands, enhancing overall efficiency and contributing to sector growth.

Navigating Challenges:

While the projected CAGR paints a promising picture, the journey is not devoid of challenges. High initial procurement costs, the need for effective maintenance, and potential regulatory shifts pose potential roadblocks. However, the industry's track record of innovation and adaptability offers optimism. Manufacturers are exploring innovative financing models and designing more resilient, durable machinery to address these challenges head-on.

As the market progresses on this upward trajectory, it serves as a reflection of the agriculture industry's ability to harness innovation to meet the challenges of a rapidly evolving world. With a focus on technology, sustainability, and innovation, the USA Agri equipment market is poised to drive both economic growth and environmental stewardship well into the future.

3 Key Customer Insights Before Entering a New Market: Ken Research

 

Building a business is definitely not a cakewalk, but expanding it is a next-level task. But this doesn’t mean it is only full of hustle, it surely offers some great opportunities to flourish and make profits. However, there are some challenges that cannot be overlooked while entering a new market or a territory and overcoming these hurdles requires a mindful strategy that can only be built when you have accurate insights under your belt.

So, here we are, uncovering three key customer insights that can guide your positioning strategy in a new market. Also, some famous examples are attached for your better understanding. So, let’s start!

1. Cultural Sensitivity: The Language of Connection

Entering a new market is more than about just about your product. No matter how awesome is your product, if it doesn’t resonate with your target consumers or their cultural beliefs, it won’t be as successful as it could be.

Hence, understanding the local culture is paramount. Even Harvard Business Report highlighted that 70% of consumers are more likely to purchase a product if the advertising is culturally relevant and Pampers understood the homework very well while entering into Japanese Market.

When Procter & Gamble introduced their diaper brand Pampers in Japan, they found out that Japanese mothers preferred diapers with higher absorbency due to smaller living spaces. As a result, Pampers adapted their product to meet this need, and their advertising focused on the convenience of longer-lasting diapers met with Japanese consumers’ expectations, resulting in a successful market entry.

2. Consumer Behavior Analysis: Navigating Preferences

Book a free call with market consultants to seek accurate customer insights and build an effective business strategy.

Understanding how customers behave and what drives their decisions is vital. Research from Nielsen suggests that 59% of consumers globally prefer to buy products from familiar brands. However, preferences can differ significantly in new markets, making it necessary to tailor your strategy.

Customers are the one who decides your product’s success. That’s why, it is important to understand how consumers behave and what determines their decisions is important. For this, you need to conduct several surveys and interviews in order to get deep consumer insights and build your marketing strategy accordingly. However, this is a time-consuming task.

That’s why, 500+ Product managers opted for Ken Research to get detailed targeted consumer insights. Ken's research has helped multiple business owners globally build a customer-centric strategy based on customer behavior analysis and helped them increase significant market revenue.

For instance, a multinational Emirati-based telecommunications services provider increased revenue by 10% after receiving a detailed market assessment and target customer analysis from Ken Research. 

This company faced difficulties in assessing customer preferences and understanding the Competitive benchmarking for the future strategy. Therefore, they contacted Ken Research.

Ken Research offered a detailed market assessment and target customer analysis to understand the potential for each type of tariff and internet plan across the region. Additionally, enabled the client to formulate an effective strategy and launch different mobile tariff plans and internet plans in line with the customer preference across different countries and regions across the Middle East.

As a result, the client experienced a 10% revenue increment by understanding customer behavior.

Want to learn more about the process? Click to visit the website now!

3. Socioeconomic Understanding: Pricing and Value Perception

A survey from Statista shows that 57% of consumers globally consider price as the most vital factor that influences their purchasing decision. Therefore, the economic context of a new market plays a very crucial role in deciding the pricing strategy for your brand.

When Uniqlo, a Japanese fashion retailer entered the Indian market, they did their homework pretty well. It was reflected in their pricing strategy. They thoroughly studied the needs and wants of Indian shoppers and accordingly offered the best quality stylish clothes at affordable prices. This helped Uniqlo quickly establish a strong foothold in the competitive Indian retail market.

To sum it all up, entering a new market is always full of surprises. You never know what would come. But there is always a data-backed strategy that helps you stay strong in this dynamic industry. Besides, we have added three customer insights that will not only help you gain and retain loyal customers but also enable you to flourish by tapping some new opportunities that your competitors might have not yet, simply by identifying the loopholes in the market through customer surveys!

So, do consider taking the market research lane if you wish to outsmart your competitors and build a successful market entry. In case you seek some reliable platform to seek customized market research for your brand, Ken Research is the one for you! Visit the website today!