In-Depth Analysis of the COVID-19 Impact on the Saudi Dry Logistics and Warehousing Market: Ken Research

COVID-19 outbreak is impacting global transportation, shipping and ports across the world with Saudi Arabia being no exception. The Kingdom of Saudi Arabia closed all land borders for people travelling between the cross-border countries such as Kuwait, UAE & Bahrain. However, the restriction did not apply to commercial vehicles carrying commercial goods, which are subject to strict screening procedures at dry ports / land borders. Multiple sectors felt the blow in the form of interferences within the cash flow and business operations as the outbreak caused forcing employees to work from home, while others contribute to unemployment levels in the country. Saudi Arabia is one of the leading economies among GCC countries owing to rich oil reserves however, drop in oil-based revenues and economic diversification towards non-oil based revenue has forced KSA to further reduce its overall expenditures.

Current Position:-

The pandemic continues to take its toll on both large international as well as domestic firms which will face long road to recovery after being constantly hungry for profits for an unknown period of time. Businesses must evaluate financial / operational challenges caused by COVID-19 while rapidly addressing the needs of their clients / end users and suppliers. The Ministry of Foreign Affairs announced the suspension of travel for the KSA citizens / residents to and from UAE, Kuwait, Lebanon, Syria, South-Korea, Egypt, Italy and Iraq via air and sea for evacuation purposes, trade purposes and commercial shipping. Also, the Saudi Ports Authority (MAWANI) issued a circular to all the ports, agents and port operators stating preventive measures to be followed for vessels & crew members coming into the KSA.

Impact on Logistics Business:-

The impact of COVID-19 has highlighted the need for development & implementation of supply chain risk management with strategic initiatives. For instance, Technological integration to the supply chain network will help to mitigate the risks and streamlining processes in the future. Cargo was backlogged at KSA’s major container ports followed by travel restrictions leading to a shortage of truck drivers’ to pick up containers, and ocean carriers canceled sailings. Additionally, the logistics sector has been affected by the new Saudization law that has increased labor costs by 15%. The Saudi customs authority has restricted freight forwarders to only 2 brokers from each company at all ports of entry, which is causing delays in freight clearances via sea and air ports. Free time has been extended in all air and seaports to 10 days from freight arrival. Also, the warehousing rents dropped by approximately 10-15% with an average lease rates for conventional warehouse dropped from SAR 150-155 per sqm to SAR 130-135 per sqm. Slowdowns in economic growth will likely slowdown the development of warehouses in the next 5 years. As a result of which, the future supply is expected to be limited as developers delay development of new projects until market conditions progress.

Measures Undertaken:-

International Air Transport Association (IATA) called for aviation-specific financial relief measures from the KSA government to address severe impact of COVID crisis on the aviation sector. It has also provided support for air transport by suspending the airport slot use rules for the summer season and extending licenses and certifications for crew, trainers and examiners.

Increasing adaptation of E-Commerce as a result of restrictions posed by the COVID-19 pandemic will bring change in terms of consumer buying behavior. Big retailers for instance, Carrefour and Abu Dawood reported surge in online sales of up to 200-300% in 2020 and further expect an escalating growth trajectory over the long-term therefore, contributing towards last mile delivery. As a result, companies are implementing same day delivery model as a response to changing demands.

National Industrial Development and Logistics Program launched under Saudi Vision 2030 is focused on transforming Saudi Arabia into an industrial powerhouse therefore, contributing towards improving their logistics operations.

Shifts in the Industry Practices:-

The government’s rising focus towards non-oil based sectors, implementation of omni-channel networks, and supply chain revisions will reflect the desired structural changes in the warehousing/storage industry as the market is expected to evolve post lockdown situation. Rising levels of technological collaborations also took place during this year. Potential influx of Foreign Direct Investments paired with investments in infrastructure and logistics capabilities & capacities will provide new opportunities in the near future. Adoption of supply chain digitization among freight forwarders coupled with rising warehousing automation will bring in improvement. Saudi Arabia government is also planning investment towards new logistics parks to boost the country’s economy.

Key Segments Covered in KSA Dry Logistics Market:-

Service Mix

Freight Forwarding

Warehousing

Value Added Services

Regions:-

Jeddah

Riyadh

Dammam

Rabigh

Others (Al- Khobar, Medina, Tabuk and several other cities)

KSA Dry Freight Forwarding Market:-

Mode of Freight

Road Freight

Air Freight

Sea Freight

Rail Freight

International and Domestic Freight

Road Freight

Air Freight

Sea Freight

International and Domestic Companies

Flow Corridors (International Freight)

Asian Countries

European Countries

Middle East

NAFTA (North American Free Trade Agreement)

Other Regions (Africa and South America)

KSA Dry Warehousing Market:-

Business Model

Industrial / Retail

Container Freight / Inland Container Depots

End Users

Construction Material / Industrial

Consumer Retail

Food and Beverage

Healthcare

Automotive

Others (Agriculture, Chemicals and Rest)

Entities

Real Estate Companies

Captive Companies

Logistics Companies

Cities

Jeddah

Riyadh

Dammam

Others (Al-Khobar, Medina, Tabuk and other cities)

KSA Customs Clearance Market:-

Overall Value Added Services

Customs Clearance Revenue by Sea

Customs Clearance Revenue by Air

Transhipment Cargo Volume

Discharged Transhipment Containers

Loaded Transhipment Containers

Key Target Audience:-

International Domestic Freight Forwarders

Warehousing Companies

Logistics Companies

Logistics Consultants

Time Period Captured in the Report:-

Historical Period: 2014-2019

Forecast Period: 2019–2025

Companies Covered:-

Karsf

LSC

JAS

Arabco

Mubarrad

Bahri

Defaf logistics

Wolf Logistics

Namma Cargo

Almajdieou

Al Ayed

Agility logistics

Four winds logistics

Globus Logistics

Space logistics

Atlas world

Uniworld Freight Services

Hellman

BAFCO International Logistics and Shipping Co.

Hala Supply Chain

RAZ

Gulf system

Platinum shipping and logistics

MSC

OCSCL (Oriental Commercial & Shipping)

NTF Group

Abdui Global

Al rashed

GAC

Kanoo terminal Services

Online Retail Companies Covered:-

Carrefour

Panda Retailing

Abdullah Othaim Market

Danube

Tamimi Market

Lulu Hypermarkets

Key Topics Covered in the Report:-

Saudi Arabia Overview and Major Economic Zones

Saudi Arabia Dry Logistics and Warehousing Market

Trade Scenario

Saudi Arabia Dry Freight Forwarding Market

Saudi Arabia Dry Warehousing Market

Snapshot on Saudi Arabia Customs Clearance and Transhipment Market

Industry Analysis (Decision Making Process, SWOT Analysis, VAT Impact and Law of Public Transport on Roads of KSA)

Cost of Setting up a Logistics Business in Saudi Arabia

Comparative Landscape – KSA Dry Logistics Market

Comparative Landscape in Saudi Arabia Online Retail Market

Recommendations / Success Factors

Research Methodology

Appendix

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Saudi Arabia Dry Logistics and Warehousing Market

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Landscape of Global Civil Drone Market Outlook: Ken Research

 The civil drones are distantly piloted aircraft systems which are accurately designed for aerial procedures without an on-board pilot or operator. The civil drone market is predominantly propelled due to increasing the digitalization in both developed and developing regions, ever-increasing utility of civil drones in the segment such as mining consisting of increasing mining production, real estate, agriculture and energy & power segment along with ingenuities taken by the private organization pampered in offering civil drones.

According to the report analysis, ‘Global Civil Drone Market to reach USD 20.4 billion by 2026.’ states that in the worldwide civil drone market there are numerous companies which recently operating more positively across the globe for leading the highest market growth and registering the handsome value of market share during the short span of time while increasing the applications of such, delivering the better consumer satisfaction, developing the specifications of the production technologies, spreading the awareness related to the applications of such, implementing the profitable strategies, analyzing and studying the strategies and policies of the government as well as competitors, and establishing the several research and development programs includes 3D Robotics, Inc., Aerodyne Group, Aerovironment, Inc, Drone Volt, ECA Group, Insitu, Inc, Intel Corporation, Parrot, Precison Hawk, Yuneec International and several others.

The worldwide Civil Drone Market is worth approximately at USD 6.8 billion during 2018 and is projected to grow with a vigorous growth rate of more than 14.7% over the forecast duration of 2019-2026. Whereas, the civil drones are effectively optimized for the inspection and observing of routine mining functions performed by the workers and operatives. The escalating mining introduction is acting as a foremost driver towards the advancement and growth of civil drone market. For Instance: as per the United States Geological Survey (USGS), U.S. mines introduced USD 82.2 billion of raw mineral materials during 2018 which was one of the greatest on the worldwide scenario observing a 3% augment over the reviewed total of USD 79.7 billion during 2017., Moreover, according to the National Mining Association, on an average, each of the American individual consumes nearly 3.4 tons of coal & approximately 40,000 pounds of newly mined minerals are optimized by each individual every year across the United States which in turn is providing the rise to mining operations leading to propel the requirement and utility of civil drones However, the great cost of civil drone encumbers the growth of the market over the forecast duration of 2019-2026.

Additionally, the regional analysis of worldwide Civil Drone market is reflected for the foremost regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. However, the North America is the leading/significant region around the world in terms of market share due to the increasing the construction & real estate sector and growing rate of mining production. Whereas, the Asia-Pacific is also projected to exhibit main growth rate / CAGR over the review period 2019-2026. Aspects such augmenting the utility of civil drones in agriculture segment along with intensifying real estate and construction segment would generate lucrative growth scenarios for the Civil Drone market around the Asia-Pacific region. Therefore, in the near years, it is anticipated that the market of civil drone will increase around the globe more positively over the forecast duration.

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Global Civil Drone Market

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Rise in Awareness towards Safe Alternatives of Tobacco Consumption Expected to Drive Global Electronic Cigarette and Tobacco Vapor Market: Ken Research

E-cigarette is a battery-operated device, which is considered as a safe alternative to smoking cigarettes. It simulates an experience of tobacco smoking without the inhalation of smoke. It is used as a substitute of conventional cigarettes that emits vaporized nicotine, which is inhaled by consumers. Owing to its favorable effects on human body compare to the traditional cigarette & tobacco vapor (T-Vapor) along with rising awareness of people about adverse effects on health of consuming traditional cigarette drives the growth of electric cigarette and tobacco vapor market over the forecast years.

According to study, “Global Electronic Cigarette and tobacco Vapor Market to reach USD 55.29 Billion by 2026” the key companies operating in the global electronic cigarette and tobacco vapor market are Reynolds American Inc., Healthier Choices Management Corp (Ruthless Vapor Corp), JUUL Labs, Inc., MCIG Inc., Imperial Tobacco Group, Japan Tobacco Inc., Altria Group, Inc., International Vapor Group, Philip Morris International, Nicquid, British American Tobacco Plc. and Shenzhen IVPS Technology Co., Ltd.

Based on product, electronic cigarette and tobacco vapor market is segmented as rechargeable, disposable and modular devices. Rechargeable devices segment holds major share in global market as they are used for longer duration by switching the cartridges containing e-liquid. Moreover, these devices cost fairly less, which is anticipated to increase their adoption. Modular devices is anticipated to witness higher growth rate since it offer customization options that help the users to combine different parts for altering the flavor and the amount of vapor generated from the device during the forecast period. Based on component, market is segmented as vape Mod, atomizer, e-liquid and cartomizer. Based on battery mode, market is segmented as manual e- cigarette and automatic e- cigarette. In addition, based on distribution channel, market is segmented as specialist e-cig shops, tobacconist, supermarkets and online.

The electronic cigarette and tobacco vapor market is driven by rise in awareness towards safe alternatives of tobacco consumption, followed by growth in technological advances in e-cigarette technology, increase in awareness among the young population due to various medical studies that term electronic cigarettes as a safer alternative to traditional cigarettes and rise in need to reduce global tobacco related mortality & morbidity. However, Risks associated with the use of electronic cigarettes and reported incidents and higher cost compares to the traditional cigarette & tobacco vapors may impact the market. Moreover, high untapped market potential in the emerging economies is a key opportunity for market.

Based on geography, the North-American region holds major share in global electronic cigarette and tobacco vapor market owing to presence of large market players and presence of large young population in the region. Whereas, the European and Asian-Pacific regions are estimate to witness higher CAGR due to favorable government initiatives regarding consumption of such products over the forecast period. In upcoming years, it is predicted that future of the global market will be optimistic on account of significant growth in the health awareness of population during the forecast period. The global electronic cigarette and tobacco vapor market is valued approximately US $10.02 billion in 2018 and is expected to grow with a growth rate of more than 23.80% over the forecast period 2019 to 2026.

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Global Electronic Cigarette and tobacco Vapor Market

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Intensifying Landscape Of Global Intelligent Video Surveillance Systems Market Outlook: Ken Research

The Intelligent Video Surveillance Systems Market is uninterruptedly growing around the world over the forthcoming years. The Intelligent video surveillance system can be demarcated as the integration of video technology and analytics software that can be optimized for a variability of determinations such as tracking movements or events. An intelligent video system is an amalgamation of both hardware and software which is accurately used by both the private and government organizations functioning on the worldwide scenario.

According to the report analysis, ‘Global Intelligent Video Surveillance Systems Market Size study, by System Type (Analog Surveillance, IP Surveillance Camera), by Application (Infrastructure, Institutional, Commercial, Industrial, Residential), by Hardware (Cameras, Monitors, Storage Media), by Software (Video Analytics, Video Management System (VMS)), by Service (Cloud Storage, Video Surveillance as a Service (VSAAS)) and Regional Forecasts 2018-2025’ states that in the worldwide intelligent video surveillance systems market there are numerous corporates which presently operating more positively for leading the highest market growth and registering the handsome value of market share around the globe during the shorts span of time while decreasing the linked price, employing the young work force, developing the specifications and features of the production technologies, advancing the applications of such, implementing the profitable strategies, analyzing and studying the strategies and policies of the government as well as competitors, delivering the better consumer satisfaction and establishing the several research and development programs comprises IBM, AD Aerospace PLC, Global Epoint, Groupe Latecoere SA,Cabin Avionics, Navaero, Honeywell Security, Siemens, Intellivision, Robert Bosch GmbH, VCA Technology, Cisco Systems Inc., Axis Communication AB, Qognify, PureTech Systems, DVTEL, ObjectVideo, Sony, Panasonic, Pelco, Aerial View Systems, Huawei Enterprise, Advantech, Goscam and multiple others.

The increasing focus towards cyber protection and security, escalating integration of IOT and growing implementation and utility in sectors which involves BFSI and Industrial are the substantial drivers of the market around the globe. Not only has this, the rising improvements in network infrastructure and audience predisposition towards deploying proficient surveillance which are probable to generating numerous opportunities during the near future. However, great cost link with these system is one of the foremost factors that restricting the market growth of Intelligent Video Surveillance Systems around the world.

Additionally, the regional analysis of worldwide Intelligent Video Surveillance Systems Market is measured for the foremost regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia-Pacific is the leading/noteworthy region around the world in terms of market share due to increase in the terrorism & external threats and wide spread usage security camera in under developed economies such as China and India. Europe is projected to increase at higher rate in the worldwide Intelligent Video Surveillance Systems market over the forthcoming years. North America is also probable to exhibit greater growth rate / CAGR over the review period 2018-2025 owing to rising requirement for network infrastructure and increase various verticals directly or indirectly connected to manufacturing segment in the region. Therefore, in the coming years, it is anticipated that the market of intelligent video surveillance will increase around the globe more effectively over the inflowing duration.

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Global Intelligent Video Surveillance Systems Market

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Rise in Consumption of Fast Food Expected to Drive Global Dipping Sauce Market: Ken Research

Dips are used to add flavor & texture to a food such as pizza, sandwich, potato chips, seafood etc. which makes the food more delicious & tasty. The dipping sauce acts as a flavoring ingredient that enhances the taste of particular food product. It comes in a variety of flavors depending on the regional demands. Different flavors are made from the combination of yogurt, mayonnaise, ginger, pepper, cheese, onion, garlic, and others. The demand for dipping sauces is very high in the food industry as they act as a crucial element in regional as well as international cuisines. Dipping sauces are extensively used in every type of cuisine all over the world. It is highly nutritious and also contains low fat as it is made from natural ingredients.

According to study, “Global Dipping Sauce Market to reach USD XXX billion by 2026” the key companies operating in the global dipping sauce market are Panama Foods, Dr. Oetker India Pvt. Ltd., FunFoods Pvt. Ltd., Giraffe Foods Inc., Chris' Food Culture, YiHai International Holdings Limited, Specialty Food Association, Inc., Jewel fine foods, Sweet Baby Ray's Inc., Renfro Foods. The key companies are started competing by mergers & acquisitions (M&A) among themselves to accomplish the competitive advantage over the market. The key strategies adopted by key players have led to augment the market share is development of the innovative products.

The dipping sauce market is driven by rise in consumption of fast food among people, followed by growth of fast food restaurants, increase in disposable income and surge in expenditure power. However, improvement utility of dip for flavor may adversely affect the nutrition value of food that impacts the market. Moreover, rise in trend for fast food and food chain outlets is a key opportunity for market.

Based on product type, dipping sauce market is segmented as organic dipping sauce and conventional dipping sauce. Organic dipping sauce segment dominates the market owing to rise in use of natural food ingredients in their food coupled with increase in demand for chemical free products among the people. Based on flavor type, market is segmented as garlic parmesan dipping sauce, blue cheese dipping sauce, onion dipping sauce, and others. In addition, based on distribution channel, market is segmented as direct sales and indirect sales. The indirect sales segment is further sub-segmented as specialty stores, hypermarket, supermarket, wholesalers, convenience stores, online retailers and others.

Based on geography, the North-American region holds major share in global dipping sauce market owing to rise in demand of fast food and growth in health awareness people in the region. Whereas, the Asian-Pacific and European regions are expected to depict higher CAGR due to significant growth in the disposable income of the population coupled with rapid urbanization over the forecast period. In near future, it is projected that the global dipping sauce market will be reached at rapid pace as a result of increase in busy lifestyle that made people rely on ready made food products like sauces and can be easily obtained from supermarkets, retail stores, online stores and others during the forecast period.

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Global Dipping Sauce Market

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Global Hand Sanitizer Market Outlook: Ken Research

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Major players in the hand sanitizer market are Reckitt Benckiser Group, The Himalaya Drug Company, Procter and Gamble, Gojo Industry Inc., Henkel Corporation, Unilever, Vi-Jon Laboratories Inc., Chattem Inc., Best Sanitizers Inc., and Kutol Products Company.

The global hand sanitizer market is expected to grow from USD 1.52 billion in 2019 and to USD 3.04 billion in 2020. The markable growth is mainly due to the COVID-19 outbreak and the surge in the demand for hand sanitizers as a measure to contain it. The market is then expected to stabilize and reach USD 3.34 billion in 2023 at a CAGR of 3.21%.

The hand sanitizer market consists of sales of sanitizers and their related service. Sanitizers are substances or liquid used for cleaning objects in order to get rid of harmful microorganisms including bacteria and are based on toxic chemicals such as iodine, chlorine, phenol, and quaternary ammonium compounds. These are products that combine disinfectant and detergent and are used to remove dirt, reduce or kill bacteria, and dissolve grease from the surface to at least 99.9%. Sanitizers used in many places including airports, hotels & restaurants, hospitals, and other places for cleaning and protects against contamination.

North America was the largest region in the sanitizer market in 2019. Asia Pacific is expected to be the fastest-growing region in the forecast period.

The expansion of production capacities and revamp of companies to meet the higher demand for hand Sanitizers is a major trend shaping the Sanitizers industry. For instance, in March 2020, Bell International Laboratories, a vertically-integrated cosmetics manufacturer, announced the expansion of their production for alcohol-based hand Sanitizers (gels and sprays) and is expected to produce 22 million units in April. Moreover, companies such as Radio Khaitan and Bacardi, manufacturers of alcoholic drinks have turned into Sanitizer producers amid the COVID19 outbreak. This step was taken for companies' contributions during the coronavirus pandemic in order to meet the increasing demand for hand Sanitizers for health and hygiene. Therefore, increasing production capacities and companies entering into the production of hand Sanitizers is a key trend for the Sanitizers market's growth.

The sanitizers market covered in this report is segmented by type into quaternary ammonium compounds based, alcohol-based, tridosan based, others, and by-product into gel, foam, liquid, others.

Health hazards associated with occupational exposure of chemicals used in Sanitizers manufacturing are expected to limit the growth of the Sanitizers market. According to Reuters's health news on chemicals Sanitizers and disinfectants linked to thyroid cancer, the workers who are exposed to chemicals or biocides used in the production of Sanitizers, disinfectants, and deodorizers are likely to diagnose with a 65% higher risk of thyroid cancer. Thus, the occupational risk of exposure to chemicals during the production of chemical-based Sanitizers is forecast to restrict the development of the Sanitizers market over the forecast period.

In March 2020, Agritek Holdings, Inc., a USA-based active investor, and operator in the legal cannabis sector announced the acquisition of Full Spectrum Biosciences Inc. including New product line of RehabRx CBG infused hand Sanitizers. Full Spectrum Biosciences Inc.'s acquisition is expected to provide Agritek Holdings, Inc. with an additional revenue platform, as both companies together plan to launch hemp-based nutraceutical products for a growing consumer segment. With the COVID19 outbreak, the Full Spectrum Biosciences Inc. is to launch cannabinoid-infused, aloe-based hand Sanitizer products containing CBG or cannabigerol. Full Spectrum Biosciences Inc. was founded in 2018 is focused on IP formulation of premium brands and genetic mapping of cannabis strains.

The coronavirus outbreak is a major driver for the growth of the sanitizers market during the period. Hygiene is an important part of safety against the protection of coronavirus and to stay healthy. Therefore, the demand for sanitizers has grown tremendously post the COVID19 outbreak globally, since the outbreak of the virus in China as sanitizers is effective against coronavirus. Center for Disease Control (CDC) recommends the use of alcohol-based hand sanitizers with greater than 60% ethanol or 70% isopropanol, as the preferred form of hand hygiene in healthcare settings. According to the U.S. Food & Drug Administration, more than 1,500 additional manufacturers have registered with the agency to meet the increased demand for hand sanitizers. Hence, the COVID19 outbreak coupled with growing concerns for hygiene is anticipated to escalate the demand for sanitizers during the year 2020 and in years to come ahead.

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

Global Hand Sanitizer Market

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Global Wearable ECG Monitors Market Outlook: Ken Research

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Major players in the wearable ECG monitors market are Apple, GE Healthcare, Withings, Samsung, QardioCore, AliveCor, Fitbit, Welch Allyn, Philips Healthcare, and CardioNet.

The global wearable ECG monitors market is expected to decline from USD 1.58 billion in 2019 to 1.54 billion in 2020 at a compound annual growth rate (CAGR) of -2.68%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to stabilize and reach USD 1150.7 billion in 2023 at a CAGR of 30.67%.

The wearable ECG monitor market consists of sales of ECG monitors embedded with optical sensors and designed to be affixed to a limb of a human (patient) body to monitor physiological information anytime and anywhere. The market consists of revenues generated by establishments that are primarily engaged in the manufacturing of diagnostic wearable ECG monitors. An ECG records the tiny electrical signals that are generated by the beating of the patient's heart. An ECG provides data on the heart rate, the rhythm, the state of the conduction system and muscle tissue (heart attacks), and even the level of certain chemicals like potassium in the blood, and the effect of medication.

North America was the largest region in the wearable ECG monitors market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

Prolonged ambulatory rhythm monitoring is crucial for the diagnosis of intermittent arrhythmia. Conventional technologies for non-invasive rhythm monitoring include Holter monitoring or external cardiac event recorders. However, these traditional technologies have limitations in terms of low sensitivity, low diagnostic yield, and poor patient compliance. Although implantable cardiac monitors (ICMs) help in long-term monitoring, it is an invasive method as it requires minor surgery and is also associated with significant costs. Therefore there is an increasing demand for non-invasive ambulatory rhythm monitoring. Smart clothing technology is a novel, alternative tool for non-invasive ambulatory rhythm monitoring.

The wearable ECG monitors market covered in this report is segmented by type into wired, wireless, and by application into atrial fibrillation, angina, atherosclerosis, cardiac dysrhythmia, congestive heart failures (CHF), coronary artery disease, heart attack, bradycardia, tachycardia.

Wearable ECG monitors employ electrodes that contact the skin directly in order to monitor the health state and signal/trigger alarm to the care providers. However, currently, the requirement is the electrodes that are non-contact with the human body. This is because by using the electrodes that are in contact with the human body, the body's movement may be easily superimposed on the detected ECG signal, and for steady monitoring of the ECG signal, it is necessary to effectively remove the motion artifact from the ECG signal. Therefore, wearable ECG monitors employing electrodes in contact with the human body, and causing motion artifacts is likely to challenge the market.

BioTelemetry, Inc., the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce the cost of care, today announced that it has acquired ADEA Medical AB, an early-stage Swedish medical technology company that delivers remote health services in the Nordics. The acquisition is aligned with BioTelemetry's longer-term strategy to increase its international footprint and offer its products and services to physicians and patients in the Nordics and other parts of Europe.

With the increasing incidence of cardiovascular diseases (CVD), there has been a growing interest in developing wearable devices that can continuously monitor cardiac activity. According to American Heart Association statistical report (2018) on heart disease and stroke statistics, there are around 17.9 million deaths annually worldwide, and this number is expected to rise by about 23.6 million by 2030. CVD account for nearly 836,546 deaths in the US alone. Cardiovascular diseases that include abnormalities in heart rhythm such as atrial fibrillation, ventricular fibrillation, and atrioventricular block require long-term monitoring. Additionally, since the mortality rate is high in CVD patients, the need for wearable devices that enable continuous heart monitoring is critical. The increasing incidence of cardiovascular diseases is therefore driving the market for wearable ECG monitors for quick emergency response and earlier detection of heart malfunctioning.

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

Global Wearable ECG Monitors Market

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