Global Pharmaceutical Packaging Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Pharmaceutical Packaging Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and is expected to reach nearly US$ 180 billion by 2028, owing to several factors including the surging demand for pharmaceutical products to treat various diseases including chronic diseases, digestive disorders, and others, which ultimately boosting the demand for pharmaceutical packaging to protect medicines or drugs from chemical, physical damage, and microbial contamination.

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Key Growth Drivers

• Growing demand for eco-friendly and sustainable pharmaceutical packaging products and the rising prevalence of chronic diseases increasing the demand for pharma products drive market growth.
• The increasing concern related to the harmful impact of packaging on the environment among consumers and manufacturers is surging the demand for eco-friendly and sustainable packaging in the pharmaceutical industry. The growing demand for sustainable packaging is likely to create immense opportunities for the growth of the pharmaceutical packaging market in the forthcoming years.
• In April 2022, Amcor plc launched a new sustainable packaging named High Shield laminated, which provides a high barrier and performance to pharmaceutical products. The new product is a recycle-ready and low carbon packaging option that comprises stick pack, sachet, and strip pack packaging and is available in two options, paper-based, and polyolefin-based materials.
• The rising prevalence of various diseases including cardiovascular diseases, digestive disorders, infectious diseases, and others increased the demand for pharmaceutical products and their packaging, which is expected to aid the growth of the global pharmaceutical packaging market.
• According to World Health Organization (WHO), approximately 17.9 million people die each year due to cardiovascular diseases including rheumatic heart disease, coronary heart disease, cerebrovascular disease, and other conditions.
• Shortage of raw materials and counterfeit pharmaceutical products hindering the market growth
• The availability of counterfeit pharmaceutical products along with the shortage of raw materials to manufacture pharmaceutical packaging products is the most significant barrier to the growth of the pharmaceutical packaging industry globally. The shortage of basic materials such as paper, plastic, glass, and other raw material has upended the manufacturing process including pharmaceutical packaging. Paper Mills failed to fulfill the demand for paper packaging products due to the shortage of wood pulp.
• According to the USA Bureau of Labor Statistics, the cost of pulp and paper increased by over 25% between 2020 and 2021, making it more expensive to procure paper as a raw material for the packaging industry.
• During the COVID-19 pandemic, the disrupted supply chain affected the production capacity and supply of pharmaceutical packaging material. In April 2020, the COVID-19 lockdown affected the pharma sector including pharmaceutical packaging due to the shortage of raw material, workforce, and restrictions on transport. To curb the situation, the governmental bodies imposed several regulations on industries, resulting in supply chain disruption.

Key Trends by Market Segment:

By Material:  Plastics & polymers segment held the largest share of the Global Pharmaceutical Packaging Market in 2021, owing to the various advantages offered by plastic and polymers such as durability, recyclability, flexibility, leakage resistance, lightweight, and others. The demand for various types of plastic including polypropylene (PP), PET, HDPE, PVC, and others is increasing to manufacture caps, lids, trays, plates, blister packages, bottles, bags, and others, which is anticipated to propel the growth of the pharmaceutical packaging market globally.

The surging demand for recyclable, biodegradable, and lightweight materials for pharmaceutical use is encouraging manufacturers to launch new packaging products made from plastic and polymers in the market.

In May 2022, Bormioli Pharma launched Eco Positive Packaging for pharmaceutical products. The packaging includes bio-based, biodegradable, or compostable plastic solutions, recycled glass and plastics, and advanced polymer products. The company aimed to provide sustainable solutions and expand its product portfolio.

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By Packaging Type:  Primary pharmaceutical packaging segment held the largest share of the Global Pharmaceutical Packaging Market in 2021, owing to the growing demand for packaging products that provides quality assurance, safety during transportation, and prevention from contamination. The primary pharmaceutical packaging includes products such as bottles, tubes, blister packs, and others. It comes in direct contact with the drug or medicines, enveloping it and protecting it from environmental contaminations. In addition, the increasing demand for easy-to-open and convenient packaging options is further expected to augment the growth of the segment in the market.

• In August 2022, SEA Vision and Marchesini Group collaborated to launch a new solution for the healthcare industry's primary pack serialized blister and aggregation solutions. The new solution comprised a complete range of technology to inspect, print, and pack serialized blisters. The company aims to offer solutions for pharmaceutical packaging to reduce counterfeiting drugs or medicines in the market.

By Product Type:  Bottles segment held the largest share of the Global Pharmaceutical Packaging Market in 2021, due to the growing demand to store liquid drugs, powders, capsules, and others to preserve, protect, and store pharmaceutical products. Moreover, the demand is increasing owing to its durability, easy usage, child resistance, and convenience for the end-users. In addition, increasing government initiatives to promote bottles for pharmaceuticals products as safe packaging, is anticipated to augment the growth of the market.

• In March 2021, National Green Tribunal (NGT) declared polyethylene terephthalate (PET) bottles safer for the packaging of pharmaceutical products. Both government, the scientific community, and the pharmaceutical industry endorsed PET bottles and have approved their usage based on scientific facts. PET is considered a strong, safe, clear, lightweight, and completely recyclable material for pharmaceutical packaging.

By Drug Delivery Mode: The oral drugs segment accounted for the majority share of the Global Pharmaceutical Packaging Market in 2021, owing to the surge in storage and protection of oral drugs as the most preferred administration route due to its convenience, high patient compliance, noninvasiveness, and non-requirement of any specific sterile conditions. In addition, the increase in initiatives taken by pharmaceutical manufacturers to develop oral drugs as these are easy to manufacture, cost-effective, and patient-friendly is anticipated to further propel the growth of the segment in the market.

• In January 2022, Catalent introduced a new Xpress Pharmaceutics service, which is designed to accelerate the development of oral drugs through Phase 1 clinical studies. The new service allows the company to work alongside clinical research organizations and innovators and also provides clinical trial material that can ease the process of clinical studies.

By End-User: Pharma manufacturing segment accounted for the largest share in 2021 of the Global Pharmaceutical Packaging Market attributed to increasing demand for medicines or drugs along with the rising population and increasing prevalence of various diseases namely cardiovascular disease, physiological, hereditary, infectious, and other diseases. In addition, an increase in the geriatric population requires additional medical assistance, thereby boosting pharmaceutical manufacturing activities. The above-mentioned factors are expected to augment the growth of the global pharmaceutical packaging market.

In January 2020, West Pharmaceutical Services, Inc. introduced a new packaging component named AccelTRA for packaging injectable drugs for generic drug manufacturers in India. The new product launch aimed to enhance the company’s product portfolio and to offer high quality, speedy packaging, and simple products to pharma manufacturers.

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By Geography: North America accounted for the largest share in 2021 of the Global Pharmaceutical Packaging Market due to the presence of many pharmaceutical packaging manufacturers in the region along with the strong production capacity for pharmaceutical products and packaging. In addition, the rising adoption of smart, advanced, and sustainable packaging for pharmaceutical products is anticipated to propel the growth of the region in the market.

• In March 2020, Berry Global, Inc. launched a new oval tube for packaging pharmaceuticals and other products. The oval tube is formed, extruded, and decorated at the USA manufacturing facility. The oval tube has a unique shape and helps manufacturers and brands to differentiate their products from other brands’ products.

Asia-Pacific is the fastest growing region in the Global Pharmaceutical Packaging Market owing to the growing demand for pharmaceutical products and their packaging. Moreover, the supportive regulations laid by the governmental bodies related to the safety of drugs are further expected to boost the growth of the region in the Pharmaceutical Packaging Market.

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Competitive Landscape

The pharmaceutical packaging market is highly competitive with ~300 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in pharmaceutical packaging.

Regional players control over 45% of the market share, while the global players hold the second largest share. Some of the major players in the market include Amcor plc, BD, AptarGroup, Inc., Gerresheimer AG, West Pharmaceutical Services, Inc., WestRock Company, CCL Industries, Berry Global, Inc., Nipro Europe Group Companies, and Mondi plc among others.

The leading global pharmaceutical packaging companies such as Amcor plc, West Pharmaceutical Services, Inc., and AptarGroup, Inc. are highly focused on research and development for creating innovative sustainable pharmaceutical packaging products or solutions.

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Recent Developments Related to Major Players

• In November 2021, Gerresheimer AG launched a new drug delivery device named SensAIR for drugs with high viscosity. The new primary packaging is launched to deliver newly developed biologics and other medical and diagnostic products.
• In May 2021, Nipro Europe Group Companies acquired Piramida, a Croatian glass pharmaceutical packaging manufacturer. The acquisition helped the company in catering to the growing demand for glass packaging in the Central European market and aimed to expand its business globally.

Conclusion

The Global Pharmaceutical Packaging Market is forecasted to continue a moderate growth, primarily driven by the rising demand for pharmaceutical products coupled with an increase in the introduction of new medicines, biologics products, and other drugs to improve patient health and their quality of life. In addition, the growing demand for reliable and innovative packaging for pharmaceutical products to prevent, preserve, and protect them from any chemical, physical, or microbial damage is anticipated to propel the growth of the market globally Though the market is highly competitive with over 300 participants, few regional players control the dominant market share and global 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 two working weeks.

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

Market Taxonomy

By Material	Plastics & Polymers Paper & Paperboard Glass Aluminum Foil Others
By Packaging Type	Tertiary Pharmaceutical Packaging Secondary Pharmaceutical Packaging Primary Pharmaceutical Packaging
By Product Type	Bottles Caps & Closures Pre-Fillable Inhalers Pre-Fillable Syringes Vials & Ampoules Blister Packs Bags & Pouches Jars & Canisters Cartridges Others
By Drug Delivery Mode	Oral Drugs Injectables Topical Ocular/ Ophthalmic Nasal Pulmonary Transdermal IV Drugs Others
By End-User	Pharma Manufacturing Contract Packaging Retail Pharmacy Institutional Pharmacy Others
By Geography	North America US Canada Mexico Europe Germany UK France Spain Italy Asia-Pacific China Japan South Korea India Indonesia Australia LAMEA Latin America Middle East Africa
Key Companies	Amcor plc Becton D AptarGroup, Inc. Gerresheimer AG West Pharmaceutical Services, Inc. WestRock Company CCL Industries Berry Global, Inc. Nipro Europe Group Companies Mondi plc

Global Oleochemicals Market is expected to reach approximately US$ 50 billion by 2028: Ken Research

 Oleochemicals are chemicals made from natural fats and oils of plants and animals. It is obtained by splitting fatty acids and glycerol from the triglyceride structure of fats and oils. Oils and fats are subjected to a methylation or hydrolysis process to yield various types of oleochemical compounds.

According to Ken Research Analysis, the Global Oleochemicals Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and is expected to reach approximately US$ 50 billion by 2028.

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The opportunity to replace conventional petroleum-based products in various sectors along with the easy availability of raw materials required for the production of oleochemicals is positively impacting the market.     

• Petroleum is a fossil fuel that when used poses a risk to the environment. Governments are enforcing stricter regulations for the sparing use of petroleum which can be replaced by oleochemicals.
• Due to its numerous environmental benefits, biofuel generated from oleochemicals is growing in popularity when compared to petroleum-based diesel fuel as it can be produced from both plant and animal feedstock, making it simple to generate. All of these factors are thus contributing to the growth of the oleochemicals market.

The emission of volatile organic compounds is a major challenge faced by the oleochemicals market. Further, wastewater and hazardous waste produced from the oleochemical production process are anticipated to hinder the seamless growth of the market.

• Oleochemicals have a certain adverse impact on the environment such as VOC and other harmful gaseous emissions, wastewater release, hazardous waste release, etc. Volatile organic compounds are produced during the pretreatment of poor-quality glycerin solutions or in vacuum generation systems.
• Also, Air emissions from fatty acids production mainly include fugitive emissions of volatile organic compounds. Volatile organic compounds can cause odor emissions due to the presence of low molecular weight decomposition products. These factors create a barrier to the growth of the Global Oleochemical Market.

The Oleochemical Market witnessed disruption in the value chain owing to COVID-19 and the lockdown in major countries. The outbreak of COVID-19 further increased the demand for oleochemicals as they are used in soaps and disinfectants. During the pandemic, the fatty acids market came under pressure due to sluggish demand owing to weak downstream sectors such as industrial lubricants and tires but the fatty alcohols fared better in because the majority of these go into the making of household and personal care products. Due to COVID-19, the demand for oleochemicals was shifted mostly to personal hygiene and the pharmaceutical sector.

Key Trends by Market Segment

By Product Type: The fatty acid product type segment dominated the global Oleochemicals Market in 2021 and is expected to continue being the dominant segment during the forecast period.

• Fatty acid category is expected to grow as a result of rising demand for bio-based fatty acids from various end-use industries such as personal care, cosmetics, chemicals, food & beverages, industrial sectors, and others. Additionally, fatty acids are cheaper than their counterparts which is further accelerating the growth of the market.

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By Application: The healthcare & pharmaceuticals application segment was the highest contributor to the Global Oleochemicals Market in 2021.

• Oleochemicals are used as preservatives, thickening agents, and emollients in the pharmaceutical industry. Fatty acid derivatives like Isopropyl myristate are used as a moisturizer in topical medicinal products as well as an emollient or thickening agent in other pharmaceutical applications.
• Glycerin-99.7% is used in the manufacturing of cough syrups and oral care products acting as a humectant. Products like sanitizers, soaps, and cleaning and disinfectant products used in healthcare facilities require fatty acid and fatty alcohol. Owing to the huge demand for oleochemicals, the healthcare and pharmaceutical segment is anticipated to augment the growth of the market.

By Geography: Asia Pacific accounted for the largest market share in 2021 among all regions within the Global Oleochemicals Market owing to the strong raw material base, and shift in consumer preference to renewable products.

• Asia Pacific Oleochemicals Market is anticipated to grow as green alternatives are being increasingly adopted and raw materials become more readily available. For instance, the biggest producers of palm oil, the primary feedstock for oleochemical production, are Malaysia and Indonesia.
• According to the Malaysian Palm Oil Council, Malaysia produced 25.8% of the world's total palm oil. In terms of demand, China is the biggest consumer of fatty acids, taking up some 30% of global output, while the Asia Pacific region consumes about 35% of the world’s fatty alcohol production.

Competitive Landscape

The Global Oleochemicals 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 hold the highest market share ~40% which is followed by the regional players holding ~35% share. Some of the major players in the market include Emery Oleochemicals, BASF SE, Wilmar International, Godrej Industries, Cargill Inc, Kao Corporation, Edenor Technology Sdn Bhd, Oleon NV., IOI Group Berhad, P&G Chemicals, Twin River Technologies Inc., Croda International Plc., and others.

Recent Developments Related to Major and Emerging Companies

• In May 2022, Oleon NV. started the construction of a new production facility in Texas, USA. The new plant will produce esters utilizing our newest technology, compliant with the highest industry standards, and also provide blending services to support Oil & Gas business.
• In September 2020, Emery oleochemicals released its EMERY® E general-purpose fatty acid esters product line. These are sustainable alternatives to petrochemical-based materials and can be used in formulations of a wide range of consumer and industrial systems such as bio-diluent, solvent, cleaning and stripping products, cosmetic emollient and dispersant, plastic additives, etc.
• In May 2019, the new plant construction of PT Apical Kao Chemical a joint venture of Kao corporation and Apical Group Ltd was completed. With the completion of the new factory, the Kao Group will increase its production capacity, produce competitive oleochemical products, and promote its stable supply, to expand the chemical business.

Conclusion

The Global Oleochemicals Market is forecasted to continue a gradual growth that is witnessed during the forecast period. Key trends driving market expansion include the recyclability of oleochemicals, increasing demand for biodegradable and sustainable products, and the growing demand from the end-user industry such as pharmaceutical, cosmetics, and food industries. The market is highly competitive with ~250 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.

Market Taxonomy

The Global Oleochemicals Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by product type and application. In addition, the report also covers market size and forecasts for the four major regions’ Oleochemicals Market. The revenue used to size and forecast the market for each segment is US$ billion.

By Product Type      

• Fatty acid
• fatty alcohol
• Glycerol
• Others

By Application          

• Healthcare & Pharmaceuticals
• Household Care
• Personal care & Cosmetics
• Food & Beverages
• Polymer & Plastic Additives
• Industrial
• Others

By Geography          

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

Key Players  

• Emery Oleochemicals
• BASF SE
• Wilmar International
• Godrej Industries
• Cargill Inc.
• Kao Corporation
• Edenor Technology Sdn Bhd
• Oleon NV.
• IOI Group Berhad
• P&G Chemicals
• Twin River Technologies Inc.
• Croda International plc

Global Remote Patient Monitoring Market is Forecasted to reach a Market Size of ~ US$ 75 Billion by 2028: Ken Research

 Global Remote Patient Monitoring Market was valued at ~US$ 20 billion in 2017. Furthermore, it is estimated to be ~ US$ 35 Billion in 2022 and is forecasted to reach a market size of ~ US$ 75 Billion by 2028 at a CAGR of ~12%, owing to the rising usage of digital technologies in the healthcare sector.

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Key Growth Drivers

• Remote patient monitoring services are predicted to become more prominent as the occurrence of chronic diseases such as diabetes, cancer, heart disease, and hypertension rises, among other conditions. By providing early warning signs and progress indicators, remote monitoring systems support medics in initiating treatment as soon as feasible for chronic diseases.
• Patients and doctors frequently struggle with inexperience with new procedures and are reluctant to abandon their current (traditional) procedures. The inexperience with technology that elderly persons may have hinders them from using telehealth and telemedicine services.
• The COVID-19 pandemic put a massive strain on overburdened and understaffed hospitals and healthcare systems around the world. The use of remote patient monitoring technologies during the pandemic allowed patients to stay safe in their own homes while easing the burden on hospitals, emergency rooms, and front-line medical staff. It had a positive effect on the market.

Key Trends by Market Segment

By Component Type- The device segment dominated the market in 2021, the high growth rate is attributed to the rise in chronic diseases like diabetes, Chronic Obstructive Pulmonary Disease (COPD), blood pressure, and mental health along with the rising need for home monitoring devices.

• The versatility of the devices, specifically the monitor's section, to track clinical data prior to and following surgery, diagnose symptoms, and prevent complications, contributes to their dominance of the market.
• Advanced features additionally enable early diagnosis and broader applicability of the devices, such as wireless communication and iPad compatibility.

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By Product Type- The vital sign monitors witnessed the highest market share in 2021, due to the extensive adoption of these monitors in recent years.

• With the help of a vital sign monitor, a patient's Electrocardiogram (ECG), non-invasive blood pressure, body temperature, respiration rate, and brain activity can be properly monitored. This product's popularity is anticipated to expand throughout the forecast period as a result of the integration of many vital sign monitors into a single system, which will result in higher adoption.
• Since devices are frequently used, vital sign monitors are predicted to expand at the fastest rate during the projected period. Due to the rising prevalence of cardiac disorders worldwide, the heart rate monitor product sub-segment has been designated as the market leader. The rising use of these monitors is a result of the rise in the number of people with heart conditions.

By Application Type- Cardiovascular diseases are likely to witness the highest growth during the forecast period, owing to the rising incidence of chronic diseases and growing patient visits.

• Cardiovascular disease has emerged as the main application category as a result of the disease's increased occurrence. During the projected period, it is anticipated that the aging population and the prevalence of chronic diseases will have a substantial impact on growth globally.
• According to the World Health Organization, in 2019 estimates that there were 17.9 million deaths worldwide which were directly related to cardiovascular illnesses. This is only explained by the increased frequency of CVD in the general population and the rising number of CVD-related deaths worldwide.

By End-user- Hospitals and Clinics segment accounted for the highest market share in 2021, owing to advancements in RPM monitoring technology, and an increase in the number of RPM services offered by hospitals and clinics.

• This is primarily due to medical facilities that can utilize remote monitoring to cut back on the use of expensive services like the Emergency Department (ED) and to lower expenditures associated with healthcare 
• The solutions may also contribute to broadening the range of hospital services, which will increase demand for them in the upcoming years.

By Geography- North America dominated the market during the forecast period owing to the demand for remote patient monitoring devices from hospitals and clinics, the rising prevalence of cardiovascular disease and home healthcare in the USA, and an increase in the country's elderly population. 

• With a renewed perspective on remote patient monitoring, the COVID-19 epidemic has transformed the landscape of healthcare delivery in the North American region.
• The main drivers of the RPM market's growth in North America are the rising geriatric population, rising prevalence of various chronic diseases among the populace, increased consumer disposable income, increased adoption rates of cutting-edge technologies in the healthcare sector, presence of developed healthcare infrastructure, and increased awareness of RPM systems.

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Competitive Landscape

The global remote patient monitoring market is highly competitive with ~300 players, which include globally diversified players, regional players as well as a large number of country-niche players that have their niche in digital technologies in the healthcare industry for multiple end-users.

Country-niche players hold the largest market share, while regional players hold the second largest share. Some of the major players in the market include Aerotel Medical Systems (1998) Ltd, Koninklijke Philips N.V., Boston Scientific Corporation, General Electric Company, Nihon Kohden Corporation, Medtronic Plc, Masimo, Abbott, Johnson & Johnson Services, Inc, OMRON Healthcare, Inc., and others.

The leading global specialist companies such as Aerotel Medical Systems (1998) Ltd, Boston Scientific Corporation, Nihon Kohden Corporation, Medtronic Plc, Masimo, and Abbott are highly focused on providing significant digital technologies in the healthcare industry for various applications that can be used across multiple industries.

Recent Developments Related to Major Players

• In 2020, Koninklijke Philips and the American Telemedicine Association (ATA) announced a partnership (US). The usage of telehealth in acute, post-acute, and home care settings has expanded as a result of this collaboration.
• In August 2022, Medtronic Plc announced a strategic partnership with BioIntelliSense. Through the partnership, the Medtronic Patient Monitoring division will be able to give general care patients with access to a medical-grade device that continuously monitors vital signs both during their stay in the hospital and after discharge.

Conclusion

The market for remote patient monitoring is anticipated to continue growing at a substantial rate of ~12% owing to the advantages of RPM to lessen the strain on medical resources, monitoring advantages of telehealth and remote patient monitoring services, technological advancements in telecommunications, rising geriatric population, and the growing need to increase healthcare access are the main factors influencing the market growth. The demand for the latest advancements in the healthcare sector is escalating as a result of growing government initiatives and investments to create a strong and advanced healthcare infrastructure. The adoption of RPM systems across various market is also being driven by rising investments in the digitalization and automation of healthcare units in order to improve the operational efficiency of the healthcare units.

Though the market is highly competitive with ~300 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 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 2 working weeks.

Market Taxonomy

Ken Research has recently published report titled Global Remote Patient Monitoring Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by Component Type, Product, Condition, Application, and End-user. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion.

Market Taxonomy

By Component Type

• Devices
• Software & Services

By Product

• Vital Sign Monitors
• Special Monitors

By Application

• Cancer
• Cardiovascular Diseases (CVD)
• Diabetes
• Sleep Disorder
• Weight Management & Fitness Monitoring
• Bronchitis
• Infections
• Virus
• Dehydration
• Hypertension
• Others 

By End-user

• Hospitals and Clinics
• Home Care Settings & Long Term Care Centers
• Ambulatory Care Centers
• Passive Exoskeletons
• Payers
• Patients
• 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

• Aerotel Medical Systems (1998) Ltd
• Koninklijke Philips N.V.
• Boston Scientific Corporation
• General Electric Company
• Nihon Kohden Corporation
• Medtronic Plc
• Masimo
• Abbott
• Johnson & Johnson Services, Inc
• OMRON Healthcare, Inc.

Global Coaxial Cable Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Coaxial Cable Market is expected to witness a CAGR of ~5% during the forecast period (2022-2028). The market accounted for US$ 25 billion in 2017 and is estimated to be US$ 35 billion in 2022. Further, the market is forecasted to reach a size of US$ 50 billion by 2028. Due to the rising telecommunication and IT industry. A significant rise in the demand for internet connection is also fueling the growth of the coaxial cable market.

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Key Growth Drivers

• Significant rise in usage of the internet is driving the growth of the coaxial cable market as higher bandwidth requires secure and competent transmission lines to function without signal loss. Cisco, an American multinational technology company, mentioned that by 2023, nearly 60% of the mobile devices and connections globally will have 4G+ capability, surpassing 3G and below-capable devices and connections by severalfold.
• Advancement in the telecom industry is further propelling the growth of the global coaxial cable market. Coaxial cable is used to convey data, video, and voice communication to customers. Invest India, a national investment promotion and facilitation agency reported that the telecom industry in India is the second largest in the world with a subscriber base of 1.17 billion as of July 2022 (wireless and wireline subscribers).
• The diminishing number of subscriptions for cable television, owing to its high cost compared to online streaming platforms, is likely to hamper the growth of the global coaxial cable market. According to the Capital News Service (CNS), a news organization, stated that the basic plan of DirecTV costs US$ 75, and DTH costs US$ 70, on the other hand online streaming video platforms such as Netflix, Hulu, and Disney Plus, HBO Max, and other is offering basic plan at an average cost of US$ 8.
• Furthermore, advancement in technology in form of fiber optic cables is hampering the growth of the coaxial cable market. Fiber optic internet transmission speed is faster than coaxial cables, which makes it ideal for large companies.
• COVID-19 has decelerated the growth of the coaxial cable market. Increased use of subscription-based applications such as Netflix, Prime Video, Disney Plus, and others, were all those factors that reduce the usage of coaxial cables. But as the market is recovering and restrictions are easing down, it is estimated that the coaxial cable market will recover shortly. According to Ericsson, a Swedish networking and telecommunication company, 5G subscriptions grew by 70 million during Q1 2022 to around 620 million and by the end of 2027, 5G subscriptions are expected to reach 4.4 billion. As the use of the internet rises, the need for better and high-quality cable also ascends, which is expected to propel the growth of the coaxial cable market.

Key Trends by Market Segment:

By Cable Type:  The RG cable segment held the largest market share of the Global Coaxial Cable market in 2021. RG-type coaxial cables are commonly used in community antenna television (CATV) for residential and commercial installations.

• RG-type coaxial cables are available in various sizes and applications in the market such as RG6 used for cable television, RG8 used for radio stations, and RG11 used for video distribution.
• Multiple companies offer coaxial cables under a single RG-type segment such as Nexans, Huber+Suhner, Belden Inc., and Commscope.
• Amphenol RF, a division of Amphenol Corporation, in October 2022, announced the expansion of the cable assembly portfolio with additional BNC to MCX and MMCX configurations. These assemblies are designed on flexible RG316 cable and offer reliable electrical performance.

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By Application: The radio frequency transfer segment accounted for the largest market share in 2021, as it is used for multiple wired connections such as Wi-Fi, phones, television cables, and others.

• A coaxial cable is an electric cable used to transmit radio frequency from one point to another. Radio frequency transfer has multiple applications including computer network connections, antennas, and the distribution of cable television signals.

Wi-Fi is the key component in radio frequency transfer applications, as it helps in transferring secure and reliable data from one point to another. Increasing average Wi-Fi speed is a driving factor for the global coaxial cable market, as higher bandwidth requires high-quality cables to transfer the data. According to Cisco, the average Wi-Fi network connection speed of 30.3 Mbps in 2018 will exceed 91.6 Mbps by 2023.

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By End-User: Internet service provider is likely to be the fastest growing segment during the forecast period (2022–2028), owing to the increasing demand for data across the world. Internet service providers require cable to transmit the data from one end to another.

• According to Cisco, the total number of internet users is projected to grow from 3.9 billion in 2018 to 5.3 billion by 2023 at a CAGR of 6% worldwide.
• As per Cisco, by 2023, the top three 5G countries in terms of the percentage of devices and connections shared on 5G will be China at 20.7%, Japan at 20.6%, and the United Kingdom at 19.5%.

By Geography: Asia Pacific accounted for the largest market share within the global coaxial cable market in 2021, owing to the growing mobile telecommunication networks.

• Invest India, the national investment promotion and facilitation agency reported that the telecom industry in India is the second largest in the world with a subscriber base of 1.17 billion as of July 2022 (wireless and wireline subscribers).
• According to the International Trade Association (ITA), a U.S. agency that promotes trade and investment, in 2020 stated that over the next five years, the four Japanese carriers including NTT Docomo, KDDI au, Softbank, and Rakuten Mobile, will spend more than US$14 billion combined in capital expenditure to build its 5G networks. In 2019, U.S. suppliers exported more than US$720 million in telecom equipment to Japan.

Cisco in its annual internet report, 2018-2023 mentioned that Asia Pacific internet users as a percentage of the regional population are forecasted to grow by 20%, which is highest among other regions.

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Competitive Landscape:

The Global Coaxial Cable market is highly competitive with ~250 players which include globally diversified players, regional players as well as a significant number of country-niche players having their niche in coaxial cable manufacturing and distributing to multiple end-user industries. Most of the global players are dealing in the manufacturing of different varieties of cables.

Global players constitute about 20% of the competitors by type, while regional players hold the second largest share of competitors. Some of the major players in the market include Belden Inc., Prysmian Group, Amphenol Corporation, CommScope, Trigiant Group Limited, HUBER+SUHNER, Leoni AG, Sumitomo Electric Industries, Ltd., TE Connectivity, Nexans, and others.

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Recent Developments Related to Major Players

• In August 2022, Amphenol RF introduced reduced interference with low PIM NEX10 coaxial adapters. NEX10 adapters can be used where RF signals need to be combined or distributed to an antenna in multi-operators, and multiband DAS applications.
• In September 2021, Nexans entered into a share purchase agreement with Xignux SA of Mexico to acquire Centelsa, a premium cable maker in Latin America.

Conclusion

The global coaxial cable market witnessed significant growth during the period 2017-2021, surging growth of data and communication, and increasing demand for high-frequency signals without signal loss are driving the growth of the coaxial cable market. The growth rate is expected to remain moderate during the forecast period.

Though the market is highly competitive with ~250 participants, the global players dominate the market 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 the report delivered within a Ken

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

By Cable Type	Hardline Cable Triaxial Cable RG Cable
By Application	Internet Data Transfer Video Distribution Radio Frequency Transfer
By End-User	Cable Television Industry Military & Aerospace Internet Service Providers Telephone Network Operators Communication Equipment Manufacturers
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)
Key Companies	Belden Inc. Prysmian Group Amphenol Corporation CommScope Trigiant Group Limited HUBER+SUHNER Leoni AG Sumitomo Electric Industries, Ltd. TE Connectivity Nexans

 

Global Robotics Software Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

The Global Robotics Software Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2028) and is expected to reach approximately US$ 15 billion by 2028.

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Key Growth Drivers

• The investment in various countries by the governments and the high adoption of Robotics Software in various end-user industries is positively impacting the market growth.
• Developed markets such as European regions and developing markets such as the Asia-Pacific region are witnessing huge investments by start-ups, and existing large players and governments which are driving the market growth.
• Concerns about data privacy and malware attacks along with the high costs associated with the implementation of industrial robots and robotics software are factors that act as constraints for market growth.
• Increasing cyber-attacks and robot crimes are major hindrances to the market’s growth. These factors are still a major concern for some end-user industries which are worried by data theft and hence they are taking a cautious approach when it comes to the adoption of robotic software.
• The COVID-19 outbreak had a positive impact on the demand for Robotics Software as various companies installed robots to disinfect factory areas as well as it helped them to deliver food to their customers without risking any health-related issues during the pandemic for their employees.

Key Trends by Market Segment

By Software Type: The Recognition Software segment held the largest market share in the Global Robotics Software Market in 2021.

The recognition software in the robots enables them with cognitive ability. This software is integrated behind the robots and helps them to identify an object and give its response accordingly.

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By Robot Type: The Industrial Robots segment held the larger share of the Global Robotics Software Market in 2021.

• The significant growth in demand for industrial robots can be attributed to the fact that they can perform dangerous tasks repeatedly with more accuracy than human beings and have a longer life span to perform such tasks.
• These robots also help companies in achieving higher operational efficiency and lowering labor costs which are encouraging more and more organizations to install these robots.
• According to data provided by the International Federation of Robotics, a total of 3.5 million industrial robots have been installed worldwide by 2021 with a growth rate of 15% from 2020 and a CAGR of 14% for the five-year period 2016-2021.

By Deployment Mode: The On-Demand segment held the larger share of the Global Robotics Software Market in 2021.

• The on-demand deployment mode or the cloud-based deployment mode is more adopted because it is a cost-effective method by which the companies are able to save a lot of costs related to data, personnel, software, hardware, and maintenance.

By Enterprise Size: The Large Enterprises segment held the larger share of the Global Robotics Software Market in 2021.

• The covid-19 pandemic made a lot of large enterprises make changes in their manufacturing facilities and deployed automated robots to mitigate any such risks in the future. Also, as the investment costs are a bit high so large enterprises have been quicker to adapt to such models faster than their small and medium enterprise counterparts.

By End-user: The Manufacturing segment held the larger share of the Global Robotics Software Market in 2021.

• The rising need for the adoption of automation, shortage of labor for factories, and robot simulation software that is making robotic automation a feasible option for the sector aided by the necessity to complete repetitive hazardous tasks more accurately & safely are the major factors for this segment to dominate the market.

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

• Asia-Pacific region has some established manufacturing markets in countries such as China, Japan, and South Korea. These countries have been very bullish on innovating and modernizing their existing manufacturing facilities which have seen the large-scale installation of industrial robots.

The region is also seeing increasing investments by the governments and many start-ups in robotics software of some countries such as China, India, and Thailand which is going to help the region maintain its dominant position during the forecast period.

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Competitive Landscape

The Global Robotics Software Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.

Approximately, the large global players constitute 5%, the regional players 35%, and country-niche players 60% of the market by type of companies operating in the market. Some of the major players in the market include ABB Ltd., Clearpath Robotics, NVIDIA Corporation, CloudMinds Technology, Inc., Liquid Robotics, Inc., Brain Corporation, AIBrain, Inc., Furhat Corporation, Neurala, Inc. and IBM Corporation among others.

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Recent Developments Related to Major and Emerging Companies

• In December 2020, ABB launched its Wizard Easy Programming software for industrial robots which does not require any special programming skills and rapid code knowledge. With this software, a robot can be made up and running within a few minutes and it allows error handling such as collisions which can be even managed by an amateur programmer.
• In March 2022, Nvidia Corp. launched the Nvidia Jetson AGX Orin developer kit. This is an artificial intelligence supercomputer that is compact, energy-efficient, and targeted towards power autonomous machines and robots. These also help robots to identify, avoid and navigate through obstacles that a robot finds in their pathway.
• In November 2022, Brain Corp launched the next generation BrainOS® autonomy platform for autonomous commercial robots. The company has partnered with Flex to deploy its new robotic solutions with an initial focus on retail sector and later rolling out the same to the other commercial sectors.

Conclusion

The Global Robotics Software Market is forecasted to continue a strong growth that is witnessed during the forecast period. Key trends driving market expansion include demand from end-user industries, growing installation of industrial robots for manufacturing set-ups, adoption of emerging technologies such as the Industrial Internet of Things (IIoT), and growing investments by countries as well as start-ups. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Note: This is an On-Demand/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 Robotics Software Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four major regions’ Robotics Software Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Software Type	Recognition Software Simulation Software Predictive Maintenance Software Data Management and Analysis Software Communication Management Software
By Robot Type	Industrial Robots Service Robots
By Deployment Mode	On-Premise On-Demand
By Enterprise Size	Small and Medium Enterprises Large Enterprises
By End User	Automotive Retail and E-commerce Government and Defense Healthcare Transportation and Logistics Manufacturing IT and Telecommunications Others
By Geography	North America (USA, Canada, and Mexico) Europe (Germany, UK, France, Spain, and Italy) Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia) LAMEA (Latin America, Middle East, and Africa)
Key Players	ABB Ltd. Clearpath Robotics NVIDIA Corporation CloudMinds Technology, Inc. Liquid Robotics, Inc. Brain Corporation AIBrain, Inc. Furhat Corporation Neurala, Inc. IBM Corporation

 

Increased usage of online platforms and technologies in auto financing are some of the key trends in Thailand’s Auto Finance Market: Ken Research

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Government investment and growth in online retail and logistics created a greater demand for commercial vehicles in the country, where the Auto finance market of Thailand has seen some major growth in the share of commercial vehicles post covid-19.

Decline in Growth Rate: Since people purchasing power decreased due to the epidemic, there has been a dip in the market for new and used cars, which has negatively impacted Thailand's auto finance industry. Due to the COVID-19 pandemic, vehicle loans have been disrupted for a number of reasons, including a decrease in the number of chips required for mass-produced automobiles. The fact that a new car was a depreciating asset made the purchase seem less significant. Moreover, Thailand's major cities provide affordable, quick public transportation.

Post-Covid Recovery, Road Expansion, and Development: Sales in the automotive sector were impacted by COVID-19 and the work-from-home culture. However, as offices reopen and business activity picks up in the nation in 2022, sales start to increase. Private vehicle demand in the nation increased as a result of road construction and infrastructure expansion. Increased automobile sales in the nation are also a result of the people's improved economic situation. Good economic conditions and rising consumer spending power made new automobiles more affordable for more people, which fueled the country's auto market's expansion.

Automotive Policy in Thailand: Thailand has supported EVs by lowering import tariffs on EV vehicles ranging from 0 to 40% until 2023, depending on the size of the engine. The Thai government adopted a set of incentives, including tax breaks and subsidies, to encourage the use and production of electric vehicles (EVs) between 2022 and 2023.

Confusing and time-consuming terms and conditions: For a salesman and customer to successfully complete an average vehicle loan application in Thailand, a significant amount of paperwork is frequently needed. Consumers frequently perceive the conditions of their auto finance to be complicated and time-consuming since they have trouble understanding loan elements during loan discussions. The greatest barriers to poverty and inconsistent income are found in rural Thailand. The monthly budget may be stretched by making monthly auto finance payments.

Analysts at Ken Research in their latest publication “Thailand Auto Finance Market Outlook to 2026F- Driven by Road Infrastructure Development and Economic Growth in the Country” observed that the Auto Finance market is an emergent market in Vietnam at a rebounding stage from the economic crisis after the pandemic. The immense infrastructural development projects in the country, partnerships, and mergers with other banks along with the adoption of digitalization are expected to contribute to the market growth over the forecast period. The market is expected to grow at a 7.4% CAGR during 2021-2026F owing to the increasing purchasing power of consumers, adoption of EVs, and new government policies.

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Key Segments Covered

Thailand Auto Finance:

• By Type of Vehicle financed
  • New cars
  • Used cars
  • Motorcycles
• By Distribution channels:
  • Banks & Subsidiaries
  • NBFC's
  • Captives
• By Type of Financing:
• Passenger Vehicles
• Commercial Vehicles.
• By purpose type:
• Loans
• Lease

By Tenure of the loans:

• 1 year
• 2 years
• 3 years
• 4 years
• 5 years and above.

Key Target Audience

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

Time Period Captured in the Report:

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

Companies Covered:

• Banks and Subsidiaries
• TMBThanachart Bank
• Ayudhya Bank
• Siam Commercial Bank
• TISCO Bank
• Kiatnakin Bank
• Kasikorn Bank
• Others (Including ICBC Bank, Citi Bank, Bangkok Bank, and Krungthuri Bank)

Captives

• Toyota Leasing Thailand
• Honda leasing
• Mercedes-Benz leasing
• BMW Financial Services
• Others

NBFC's

• Muangthai Capital
• Asia Sermkij Leasing Nakhon Luang Capital Limited
• Thitikorn
• Summit Capital
• Group Lease
• Aeon Thana Sinsap
• G Capital Public Limited
• Others (Thai Ace Capital, SGF Capital, JMT Network, Phatra Leasing Company, Mitsib Leasing)

Key Topics Covered in the Report

• Thailand Automotive Market Overview
• Thailand Automotive Finance Market Overview
• Ecosystem of Thailand Auto Finance Market
• Business Cycle and Timeline of Thailand Auto Finance Market
• Thailand Auto Finance Value Chain Analysis
• Market Sizing Analysis of Thailand Auto Finance Market, 2016-2021
• Thailand Auto Finance Market Segmentation (By Type of Vehicle Financed, By Distribution Channel, By Tenure Loan, By Purpose Type, By Type of Motor Vehicle), 2021
• SWOT Analysis of Thailand Auto Finance Industry
• Trends and Developments in Thailand Auto Finance Industry
• Decision Making Parameters for Selecting Car Loan Vendor
• Issues and Challenges in Thailand Auto Finance Industry
• Growth Drivers of Thailand Auto Finance Market
• Government Regulators and Initiatives in Thailand Auto finance Industry
• Competition Framework for Thailand Auto Finance
• COVID-19 Impact on Thailand Auto Finance Market
• Future Outlook and Projections of Auto Finance Market in Thailand, 2021-2026F
• Market Opportunities and Analyst Recommendations

For More Information on the research report, refer to below link: –

Thailand Auto Finance Market

Related Reports by Ken Research: –

Singapore Auto Finance Market Outlook to 2025

Egypt Car Finance Market Outlook to 2021

Philippines Auto Finance Market Outlook to 2024

Global Enzymes Market is expected to reach approximately US$ 16 billion by 2028: Ken Research

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Global Enzymes Market is expected to record a positive CAGR of over 6% during the forecast period (2022-2028) and is expected to reach approximately US$ 16 billion by 2028, due to an increase in technological advancements for the manufacturing of enzymes along with the growing demand for enzymes in various industries including food and beverages, bioenergy, animal feed, pharmaceuticals, and others. The ongoing Covid-19 pandemic has benefited the enzymes industry due to a surge in nutritional and immunity-boosting products which has directly increased the demand for enzymes.

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• The growing demand for enzymes for the treatment of various diseases including cardiovascular diseases, cancer, and others along with the increasing prevalence of cardiovascular diseases and increase in the geriatric population is expected to augment the growth of the market. In 2022, according to the Centers for Disease Control and Prevention (CDC), one person dies every 34 seconds from cardiovascular diseases in the U.S. It was reported that 697,000 people died from heart disease in the year 2020.
• The rising research and development of enzymes for the production of biofuel are likely to create immense opportunities for the growth of the enzymes market in the forthcoming years. In August 2020, according to Technology Networks, researchers at the Brazilian Center for Research in Energy and Materials (CNPEM) genetically engineered low-cost enzyme cocktails from a fungus that helped break down the carbohydrates in biomass, like sugarcane (tops and leaves) and bagasse into fermentable sugar. The low-cost enzyme cocktails can be used efficiently to produce biofuels from sugarcane residues.
• The lack of standard regulatory policies on enzymes is the most significant barrier to the growth of the enzymes industry globally. In March 2021, according to The European Parliament, there are over 250 technical enzymes which are produced from genetically-modified organisms and most of them are permitted in Europe. However, no relevant, independent, or well-founded studies have been done on their effects on health, which led to a lack of mandatory labeling of technical enzymes in the food processing industry.
• During the initial period of COVID-19 pandemic, the disrupted supply chains have affected the production capacity, demand, and supply of the enzymes but post 2021 the demand for enzymes increased owing to rising health awareness among consumers which has boosted the demand for immunity-enhancing products. In August 2021, Advanced Enzymes Technologies entered the e-commerce space in India with its immune-supporting brands- ImmunoSEB and Biome Ultra, which comprised systematic enzymes and probiotics. These products help enhance immunity and are effective in reducing ‘long Covid afflictions.

Key Trends by Market Segment:

By Product Type:  Industrial enzymes segment held the largest share of the global enzymes market in 2021, owing to the growing demand for enzymes for the manufacturing of various products including detergents, food and beverages, textile, biofuels, paper & pulp, and others. Moreover, the increase in the use of detergents in household and industrial applications has enabled manufacturers to launch new products in the market.

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• In September 2021, Novozymes A/S launched a phosphodiesterase enzyme named Pristine, a biodegradable and natural ingredient for detergent. This enzyme helps tackle the problem of malodor and discoloration. It breaks down the layer of body grime and releases odor and dirt. The launch aims to expand the company’s product portfolio.

By Source: The microorganism segment accounts for the majority share of the global enzymes market in 2021, due to its low production cost as well as easy availability of the source. In addition, the microorganism-based enzymes can be cultivated in large quantities in a short period which gives an added advantage in the enzyme production process. The increase in research and development on the production of enzymes from microorganisms is expected to fuel the growth of the market.

• According to the National Center for Biotechnology Information, the demand for enzymes is increasing rapidly in various industries including agriculture, food, chemicals, pharmaceuticals, and others, and microbial enzymes have gained interest due to their catalytic activity, stability, and ease of production and optimization in comparison to other plant and animal enzymes.

By Type: The carbohydrase segment accounts for the majority share of the global enzymes market owing to the surge in the demand for carbohydrases such as cellulose and amylases in various industrial applications including textile, pulp & paper, food and beverages industry, and others. In addition, carbohydrase has great potential in improving feed energy which has increased its demand in the feed industry. The aforementioned factors are expected to propel the growth of the market.

• A research study published in June 2021 shared that according to Elsevier B.V., supplementation of multi-carbohydrase in poultry diet can help improve nutrient digestibility, energy and protein utilization, and growth rates.

By Applications: Food and Beverages segment accounts for the largest share in 2021 of the global enzymes market owing to the growing demand for enzymes to modify the properties of food and beverage products including bread, juices, wine, beer, dairy products, and others. Enzymes are widely used in the formulation of fruit juices as it helps improve the quality by clarifying fruit juices and in the dairy industry to improve the taste, texture, and quality of dairy products.

The increasing demand for enzymes in the food and beverages industry has enabled manufacturers to cater to the rising demand by launching new and better products in the market.

• In June 2021, IFF launched an all-in-one enzyme solution called Nurica, which helps dairy manufacturers to produce high-fiber, low sugar, and lactose-free dairy products. It harnesses the lactose to generate a high yield of prebiotic galactooligosaccharides (GOS) fibers naturally. The company aimed to offer an enzyme for the dairy industry which helps maintain the quality of the products while fulfilling the demand for lactose-free products of consumers.

By Geography: The North America region accounted for the largest share in 2021 of the global enzymes market owing to the presence of a large number of end-use industries including personal care & cosmetics, food and beverages, pharmaceutical, laundry detergent, and other industries. In addition, an increase in strategic initiatives such as partnerships by enzyme manufacturers to grow the enzyme business is expected to fuel the growth of the market.

• In June 2022, Enzyme Innovation partnered with Sumitomo Chemical America to sell their line of animal feed enzymes and probiotics in the U.S. The partnership aimed to offer its product line to livestock and poultry producers in the U.S.

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Competitive Landscape

• The enzymes market is highly competitive with ~150 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in enzymes.
• Large global players control over 40% of the market, while regional players hold the second largest share. Some of the major players in the market include BASF SE, Novozymes A/S, IFF, DSM,  Codexis, Inc.,  Merck KGaA, Chr. Hansen Holding A/S, Advanced Enzyme Technologies, AB Enzymes, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Creative Enzymes, and among others.
• The leading global enzymes companies such as Novozymes A/S, IFF, and F. Hoffmann-La Roche Ltd, are highly focused on providing a broad category of enzymes suitable for various end-use industries.

Recent Developments Related to Major Players

• In July 2022, Codexis, Inc., an enzyme engineering company, announced an agreement with Pfizer for the supply of an enzyme called PAXLOVID, an active pharmaceutical ingredient, authorized for emergency use by the U.S. Food and Drug Administration (FDA). It is used for the treatment of mild-to-moderate COVID-19 in patients who are at high risk of developing severe illness.
• In January 2022, BASF SE expanded the production capacity for its feed enzyme plant in Germany. The larger production capacity enabled the company to increase the annual number of feasible fermentation runs and fulfill the growing demand for high-quality enzymes.
• In July 2021, Unilever partnered with Arzeda, a protein design company to harness its digital biology technique to design and discover new enzymes for the cleaning and laundry industry. The partnership aimed to enhance the company’s product portfolio.

Conclusion

The Global enzymes market is forecasted to continue a significant growth that is witnessed since 2020, during the forecast period also, primarily driven by rising demand for the growing use of enzymes in various industries including food and beverages, animal feed, pharmaceuticals, diagnostics, and others. Moreover, technological advancement in the production process and increased awareness regarding environmental issues are expected to escalate the growth of the market. Though the market is highly competitive with about 150 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 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 2 working weeks.

Market Taxonomy

Ken Research has recently published report title Global Enzymes Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by product type, source, type, and applications. In addition, the report also covers market size and forecasts for the four region's enzymes market. The revenue used to size and forecast the market for each segment is US$ billion.

By Product Type

• Industrial enzymes
• Specialty enzymes

By Source

• Microorganism
• Plant
• Animal

By Type

• Carbohydrase
• Proteases
• Lipases
• Polymerases & Nucleases
• Other Enzymes

By Applications

• Food & Beverages
• Animal Feed
• Cleaning Products
• Biofuel
• Research & Biotechnology
• Diagnostic
• Pharmaceuticals
• 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
  • Australia
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • The Middle East
  • Africa

Global Printed Signage Market is expected to reach revenue US$ 50 Billion by 2028: Ken Research

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The Global Printed Signage Market is expected to witness a CAGR of ~5% during the forecast period (2022-2028) and reach ~US$ 50 Bn by 2028, owing to its cost-effectiveness compared to digital signages. This helps the small enterprises to proactively utilize printed signage as part of their marketing activities which is likely to further drive the usage of printed signages in many industries. Printed signage is a widely used form of signage solution. It is used to advertise products, provide information, attract customers and increase their knowledge about the products through billboards, banners backlit displays, etc. The ease of usage and deployment of printed signages without any operational and maintenance cost and longer lifespan is encouraging businesses and companies to adopt these solutions.

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• The low cost of deploying printed signage and its increasing usage across shopping malls and retail stores is likely to drive the printed signage market. According to UK Advertising Association Report 2021, UK advertisement spending increased by 24.8%, yielding the highest yearly increase on record with the use of printed signages.
• The printed signage market faces a greater challenge from the digital signage solutions that provide a long-term return on investment, hence restraining the market growth of printed signages. Furthermore, digital signage is more versatile as it can display various information without needing to be replaced. According to Screen Fluency 2021 statistics, 74% of US customers get influenced by digital signage and enter stores they have never visited, and 42% of sales come from online, mobile, and social commerce sites.

• Lockdown induced by the governments across the globe due to Covid-19 has disrupted the supply chain and manufacturing operation worldwide. The printed signage market had a mixed impact due to the changes in demand from various end-user industries. The outbreak of the Covid-19 pandemic resulted in a reduction in travel worldwide. This harmed the transportation and logistics industry, thus restricting the usage of outdoor printed signage. However, end users, such as healthcare, witnessed increased demand to make signages related to COVID-19 precautions.
• In 2020 Caldron Graphics, an Indian provider of significant format inkjet printing technologies for indoor signages faced severe supply chain disruption as the several types of machinery imported from China resulted in decreased levels of production.

Key Trends by Market Segment

By Product Type: Banner and Backdrop segment holds the largest market share in 2021 of the Global Printed Signage market according to Ken Research’s analysis.

• Banner is one of the easiest adaptable signage and easy to install. There are several types of banners; vinyl banners, mesh banners, fabric banners, canvas banners, and others that are widely used across multiple application areas in retail, BFSI, automotive, event management, and travel industries.
• Backdrops are majorly used during sporting, entertainment, and commercial events owing to the light weight of vinyl fabric backdrops, it is easy to set them up on the ground.
• Billboard holds the second largest market share. Billboards are massive advertising structures used for product branding and promotion. Due to its enormous size, it is used mostly for outdoor advertising formats. They are placed in high-traffic locations, where advertisers use them to catch customer attention.

By Print Technology: The inkjet segment held the largest market share in 2021, owing to its ability to offer attractive designs.

• For signs, banners, displays, and home decor, inkjet technology offers appealing design advantages, including the capacity to print on a wide range of substrates, including vinyl, paper, and polyester.
• Sheetfed segment is expected to witness significant growth during the forecasted period, owing increase in investment by vendors on a sheetfed press.
• In Aug 2021, Yintong Corporation signed up for the purchase of 56 multicolor RMGT 920 series sheetfed presses at China Print to be delivered and installed over the next three years. The deal for all these 56 presses was signed at China Print 2021 by Yintong with RMGT’s Chinese distributor, Beijing Jia He Ding Xin Technology & Business known as Dinga.

By Application Type: Outdoor segment is expected to dominate the global printed signage market over the forecast period (2022-2030).

• The growth of the outdoor segment is mainly attributed owing to the growing popularity of outdoor advertising and its reach to a larger audience.
• The indoor segment is estimated to hold the second largest market share as it has brand recognition and client trust which has benefitted businesses worldwide. Point-of-purchase displays, indoor banners, backlit displays, and corporate graphics are examples of various types of indoor signage.

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By End User Segment: The retail segment is expected to hold the largest market share in the global Printed Signage over the forecast period (2022-2030).

• The retail sector’s focus on expansion and investment in advertising and marketing is propelling the growth of printed signage in the retail segment.
• Retail signage can range from backgrounds, banners, and pop-up displays to graphics and posters. Retail signage comes in a variety of forms, including both inside and external signs.
• Interior retail signage is focused on getting a customer to make a purchase and direct them to the location in the stores whereas exterior retail signage is used for creating invitations. In Great Britain, the volume of retail sales rose by 5.1% in 2021, which is the strongest since 2004.

By Region: the Asia Pacific is expected to dominate the global printed signage market during the forecasted period owing to the presence of a greater number of manufacturers and an increase in the innovation of signage printers with advanced technology and sophisticated designs.

• Higher penetration of retail sectors with investment in advertisement and marketing is the key factor for higher sales of printed signage in the region. The launch of new products owing to continuous innovation is likely to drive market growth. In April 2021, Colorje announced the launch of SoniQ I, a new signage printer that expanded the company's signage printer lineup. The SoniQ I is a low-investment, high-value signage printer that offers flexible printing at high speeds.
• In addition, according to the Malaysian Advertisement Association, out-of-home (OOH) spending is continuously rising and is expected to account for 19% of all advertising spending in 2021.
• Europe is expected to be the fastest growing region in the global printed signage market, owing to increasing spending of the retail sector on advertising and marketing.
• In April 2021, Schweiter Technologies expanded its 3A Composites core materials business in Poland with the addition of Polyethylene Terephthalate foam production.
• In April 2022, Orafol Group invested approx. USD 160 million to expand the production facilities in Bradenburg, to cater to the increase in demand for manufacturing products for the graphics industry, high-performance film, and industrial adhesive tapes.

Competitive Landscape

The Global Printed Signage market is highly fragmented with over 1000 players including globally diversified players, regional players as well as a large number of country-niche players having their niche in printing, advertisement, and marketing.

Large global players constitute ~5% of the market in terms of the number of competitors, while regional players hold the second largest share. Some of the major players in the market include Avery Dennison Corporation, Spandex Ltd., IGEPA Group GmbH & Co. KG, Orafol Europe GmbH, Identity Group, Lintec Corporation, 3A Composites Holding AG, Signs Express, Ehko Sign Industries KFT, Mactac LLC, Kelly Signs and Graphics, L&H Sign Company Inc., and among others.

Recent Developments Related to Major Players

• In April 2022, 3A Composites strengthen its product portfolio in the Display business by becoming a 25% shareholder of Swedboard International AB via a direct capital increase.
• In March 2022, Avery Dennison Corporation acquired the Linerless label technology developed by Catchpoint Ltd, a UK company based in Yorkshire, England. The deal includes the trade secrets, brand, patents, and know-how of Catchpoint.
• In Aug 2021, ORAFOL Group acquired NUPRO Advanced TPU Films in South Deerfield, Massachusetts, United States. This partnership is likely to accelerate the growth of both companies by expanding production operations.
• In May 2021, Spandex expanded its portfolio of films with a new collection of ImagePerfect decorative privacy glass films for application on interior and exterior windows, doors, and partitions.

Conclusion

The Global Printed Signage Market is forecasted to continue the growth that is witnessed since 2017, during the forecast period also, primarily driven by the ease of deployment of printed signages without any maintenance cost and longer lifespan. Though the market is highly competitive with over 1000 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.

Market Taxonomy

Ken Research has recently published report a titled Global Printed Signage Market Size, Segments, Outlook and Revenue Forecast 2022-2028 is segmented by Product Type, By Print Technology, By Application, By End Users. In addition, the report also covers market size and forecasts for the four major regions of the printed signage market. The revenue used to size and forecast the market for each segment is USD billion.

Market Taxonomy

By Product Type

• Banner and Backdrop
• Corporate Graphics, Exhibition, and Trade Shows
• Backlit Displays
• Point of Purchase Display
• Billboards
• Others (Kiosk, Flags, Vehicles/Fleet Graphics)

By Print Technology

• Screen
• Inkjet
• Sheetfed
• Others (Offset Lithography, Dye Sublimation, Toner)

By Application Type

• Indoor
• Outdoor

By End User Segment

• Banking, Financial Services, and Insurance
• Retail
• Transportation and Logistics
• Healthcare
• Sports and Entertainment
• Other End Users

By Region

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