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

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

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

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

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

Key Trends by Market Segment

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

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

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

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

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

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

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

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

Competitive Landscape

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

Recent Developments Related to Major Players

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

Conclusion

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

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

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

Market Taxonomy

By Product Type

Acetoxy

Amino

Oximinics

Acetic

Others

By Technology

Room Temperature Vulcanizing (RTV)

Thermoset or Heat Cured

Radiation Cured

Pressure Sensitive

By Application

Building & Construction

Semiconductors & Electronics

Automotive

Glass

Wood Furniture

Others

By Geography

North America

USA

Canada

Mexico

Europe

Germany

UK

France

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

Indonesia

Australia

Rest of Asia Pacific

LAMEA

Latin America

Middle East

Africa

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

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

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Key Growth Drivers

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

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

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

Key Trends by Market Segment

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

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

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

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

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

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

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

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

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

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

Competitive Landscape

The Global NaaS market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in a cloud-based solution, and technologies. The NaaS market's growth is heavily reliant on technological advancement and Software investment. Nowadays, numerous cloud-based companies, including Rackspace, Verizon, Cisco, and Juniper are investing in NaaS, and governments are also making significant investments in NaaS.

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

Recent Developments Related to Major Players

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

Conclusion

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

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

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

Market Taxonomy

By Type

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

By Application

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

By Enterprises

• SMEs
• Large enterprises

By End-User

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

By Geography

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

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

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

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

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

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

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

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

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

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

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Key Growth Drivers

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

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

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• Chemical surface disinfectants have some adverse impacts on the environment and acts as a major barrier for growth. For instance, hydrogen peroxide used in chemical surface disinfectants can cause portal vein thrombosis, gastrointestinal problems, mild mucosal irritation, and vomiting. According to a study conducted by the National Library of Medicine, in the United States, Australia, the United Kingdom, and Sweden 15.7% of the general population, and 32.9% of asthmatics, report health problems from being in a room after it has been cleaned by fragranced products which include surface disinfectants.
• The outburst of COVID-19 had a positive impact on the surface disinfectants market. The pandemic increased the need for surface disinfection and cleaning practices significantly. Multiple measures were being taken to curb the spread of the deadly virus, including disinfection and sanitizing surfaces. This increased the demand for surface disinfectants across the globe.

Key Trends by Market Segment

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

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

• In June 2020, an article by Bhabha Atomic Research Center reported that Sodium hypochlorite (NaOCl) is one of the proven disinfectants and is being used in sanitization where 0.05-0.5% NaOCl is recommended by the World Health Organization and the Center for Disease Control and Prevention, whereas 1% is recommended by the Indian Council of Medical Research.
• In March 2020, Chimcoplex received approval from the Ministry of Health, Romania, for the production of 1.25% sodium hypochlorite. This is further expected to support the surface disinfectant manufacturers for production and thus drive the growth of the market segment.

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

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

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

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

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

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

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

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

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Competitive Landscape

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

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

Recent Developments Related to Major Players

• In May 2020, Ecolab (US) acquired Holchem Group to strengthen its hygiene and cleaning products and services portfolio for the food & beverage, food service, and hospitality industries.
• In April 2021, Unilever partnered with LanzaTech and India Glycols to produce a surfactant made from industrial carbon emissions instead of fossil fuels. Additionally, in March 2021, BASF signed a partnership agreement with Allied Carbon Solutions Co., Ltd. (ACS) Japan to strengthen its global position in bio-based surfactants and actives.
• In 2019, Ecolab Inc., acquired the business of privately held Chemstar Corporation, a U.S.-based supplier of food safety and cleaning and sanitizing solutions focused on the grocery and food retail markets.

Conclusion

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

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

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

Market Taxonomy

By Composition Type

• Chemical Based
• Biobased

By Form

• Liquid
• Wipes
• Spray

By Application Type

• In-house Surfaces
• Instrument Disinfection
• Others

By End-user

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

By Region

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

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

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

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Key Growth Drivers

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

Key Trends by Market Segment:

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

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

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

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

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

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

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Competitive Landscape

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

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

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

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Recent Developments Related to Major Players

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

Conclusion

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

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

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

Market Taxonomy

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

 

Global Metaverse Market is expected to reach a revenue of US$ 700 Bn by 2030: Ken Research

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The Global Metaverse Market is expected to record an exponential CAGR of ~40% during the forecasted period (2022-2030) and expected to reach a revenue of US$ 700 Bn by 2030, due to the increase in popularity of virtual Reality, augmented reality, and mixed reality the metaverse is gaining momentum as it helps in connecting the physical world with the virtual environment.

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Key Growth Drivers

• Metaverse helps in purchasing digital assets such as cryptocurrencies and non-fungible tokens (NFTs) and as these digital assets are gaining popularity day by day this will provide a positive impact on the growth of the metaverse market. In February 2022, Decentraland a 3D virtual world browser-based platform raised US$ 1.2 million in a fungible token auction using metaverse.
• Technology such as mixed reality, blockchain, and augmented reality in the metaverse helps in fostering market growth. Companies start adopting metaverse as Microsoft and Samsung own 158 and 122 patents on the metaverse.

The retail and eCommerce industry are investing in the metaverse as it helps to showcase products in the virtual world. In May 2021, United Nations Conference on Trade and Development, an intergovernmental organization stated that Global e-commerce sales had reached US$ 26.7 trillion in 2019 which get boosted due to online sales and such an increase in eCommerce will create a huge opportunity for the Metaverse Market to grow.

• The rise in concern related to cyber-attacks, data breaches, destruction, destroy, disruption, system controls, and others is the most significant barrier to the growth of the metaverse In August 2021, the FBI's Internet Crime Complaint Center (IC3) reported 2,084 complaints of cyber-attacks from January to July 2021.
• COVID-19 plays an important role in the metaverse concept as people start working from home, students began education online, and users start adopting online video gaming. According to the Newzoo report, the total esports (electronic sports) audience reached 495 million population in 2020 increasing by 11.7% such an increase in demand for gaming audiences has created a positive impact on the growth of the metaverse market.

Key Trends by Market Segment

By Component: The hardware segment held the largest market share of the Global Metaverse Market in 2021 as hardware provides components such as AR/VR headsets and displays to the user which is the primary need to access the metaverse.

• Hardware is used to provide customers products like AR/VR headsets and displays, Extended Reality hardware. There are some other hardware products which include a tracking system, projectors & display walls, and scanning sensors. In 2021, Meta Platforms, an operator of social media technology, announced that its product Quest 2 VR headsets captured 78% (8.7 million units) of the entire headsets Market (11.2 million units).
• Increasing population leads to the adoption of the metaverse. In 2021, the number of AR/VR shipped increased by 92.1% as compared to previous years.

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By Platform: The desktop segment accounted for the majority share of the global metaverse market in 2021, owing to the raising adoption of online gaming. Increasing the video gaming audience creates a demand for desktop devices which helps in experiencing virtual reality gaming. The mobile segment is expected to grow with the highest CAGR as it is becoming a more useful and easiest way to connect to the metaverse.

• Desktop has the primary portal into the Metaverse Market, Virtual Desktop is a program that allows users to utilize Virtual Reality using VR headsets.
• Increasing use of smartphones and mobile networks have made access to the metaverse with the increasing number of application developers.
• Users can publish and communicate with each other using video conferencing using Metaverse. The smartphone market is increasing and they are becoming the more useful and easiest way to connect to the metaverse.

By Offerings: Asset Marketplace segment held the largest share of the global metaverse market in 2021, due to an increase in the investment of bitcoins, NFTs (Non-Fungible Tokens), and Cryptocurrencies.

• An Asset Marketplace is a platform for trading digital assets such as in-game assets, virtual land, and non-fungible tokens all the transaction which is done based on blockchain technology, and NFTs can be used and transferred in the metaverse.
• The US government still owned US$4.08 billion in Bitcoin as of February 2022, government involvement in the asset market drives the growth of the global metaverse market.

By Technology: Augmented reality and virtual reality segment held the largest share of the global metaverse market in 2021, due to the rising demand for services based on virtual reality (VR) and augmented reality (AR), as well as the usage of technology to produce the experience of virtual environment.

• Metaverse Virtual Reality and Augmented reality is been used in various industries such as Gaming and entertainment, Healthcare, Education, and many more.
• In May 2022, India Brand Equity Foundation, a trust established by the government of India, stated that smartphone penetration was 54% in 2020 and is predicted to reach 96% by 2040, increasing the accessibility of AR/VR-based technologies.

By End-User: The gaming segment held the largest share of the global metaverse market in 2021, due to the substantial ongoing improvements and advancements made by developers and the rising emphasis on increasing immersion and realism in games.

• In April 2022, Epic Games, an American video game and software developer, announced a US$2 billion round of funding to promote the company's aim of building the metaverse and support its ongoing expansion.
• The gaming industry is a leader in adopting cutting-edge technology like VR, and AR. These technologies can improve gaming experiences by developing virtual characters and things that are connected to particular real-world locations.

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By Geography: The global metaverse market is divided into 4 regions North America, Asia-Pacific, Latin America, Middle East & Africa (LAMEA). North America is expected to dominate the global metaverse market during the forecasted period owing to the presence of major companies such as Nvidia Corporation, Microsoft, Meta Platforms, and Unity Games.

• The Metaverse is expected to be primarily derived from North America. Virtual Reality, Augmented Reality, and 3D simulation is being used by several companies in North America to enhance their operations.
• North America is increasing market share as a result of increased investment in Metaverse by leading players such as Meta Platforms, Nvidia Corporation, Roblox Corporation, and others. For Instance, NVIDIA expands the omniverse platform in August 2021 in order to draw millions more players to the metaverse.

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Competitive Landscape

The metaverse market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in metaverse advancement for multiple industries. most of the country-niche players are metaverse developers.

Global players control about 10% of the market, while regional players hold the second largest share. Some of the major players in the market include Meta Platforms, Microsoft, Nvidia, Tencent Holdings Ltd, Roblox Corporation, Nextech AR Solutions Inc, Unity Software Inc, Bytedance, Epic Games, Inc., Decentraland, Antier Solutions, and Alibaba Group Holding Limited.

Recent Developments Related to Major Players

• In September 2022, Meta is collaborating with Qualcomm to design a customized chipset for extended reality platforms to deliver the next-generation platforms and core technologies to accelerate a fully immersive metaverse.
• In January 2022, Microsoft is acquiring Activision Blizzard which will bring experience and community of Gaming to everyone. Activision Blizzard Inc. is a leader in gaming development and interactive entertainment content publisher and this acquisition will help the company to accelerate growth in Microsoft’s gaming business and will provide building blocks for the metaverse.

Conclusion

The Global Metaverse Market is forecasted to continue at an exponential growth rate that it has been witnessing since 2019, primarily driven by rise in demand for three-dimensional (3D) environment as remote working tool during the time of COVID-19 pandemic. Though the market is highly competitive with ~500 participants, few global players control the dominant share and regional players also hold a significant share.

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

Ken Research has recently published report titled, Global Metaverse Market Size, Segments, Outlook and Revenue Forecast 2022-2030, the market is segmented by Component, Platform, Offerings, Technology, and End-User. In addition, the report also covers market size and forecasts for the four major regions in the Metaverse markets. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Component

• Hardware
• Software
• Professional Services

By Platform

• Desktop
• Mobile
• Wearable
• Others

By Offerings

• Virtual Platforms
• Asset Marketplace
• Avatars
• Financial Services

By Technology

• Augmented Reality (AR) & Virtual Reality (VR)
• Mixed Reality
• Blockchain
• Others (IoT, etc)

By End-User

• Gaming
• Social Media & Live Events
• Online Shopping
• Industrial Manufacturing
• Aerospace and Defense
• Education
• Healthcare
• Others (Content Creation, Virtual Runway Shows, Fashion, Testing & Application)

By Geography

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

Key Competitors

• Meta Platforms Inc.
• NVIDIA Corporation
• Microsoft
• Nextech AR Solutions Inc.
• Decentraland
• Roblox Corporation
• Tencent Holdings Ltd.
• Bytedance
• Unity Software Inc.
• Antier Solutions
• Alibaba group holding limited
• Epic Games, Inc.

Global Reclaimed Rubber Market is expected to reach market size of ~US$ 4 billion by 2028: Ken Research

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According to Ken Research Analysis, the Global Reclaimed Rubber Market was valued at ~US$ 1 billion in 2017, it is estimated to be ~US$ 2 billion in 2022 and is forecasted to reach a market size of ~US$ 4 billion opportunities by 2028 at a CAGR of ~12% during 2022–2028. Reclaimed rubber requires less energy consumption, and is cost-effective which drives the growth of the market.

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Key Growth Drivers

• The increasing demand for tires and tubes in the automotive industry is driving the global reclaimed rubber market. According to the International Organization of Motor Vehicle Manufacturers (OICA), an organization working in the interest of vehicle manufacturers and assemblers stated that vehicle production increased by 3% from 2020 to 2021 after declining by 13% from 2019 to 2020. Thus, the increasing production of motor vehicles is driving the demand for tires, which is likely to act as a driver for the reclaimed rubber market.
• Devocalization or depolymerization of waste rubber will likely result in the degradation of the physical properties of rubber. Devocalization is a process through which vulcanized waste rubber is transformed into the state in which it can be vulcanized, after mixing and processing. Degradation of rubber can range up to 30 to 70% from the virgin state. A higher level of application such as tires from waste rubber is limited to use after the degradation of a material.
• COVID-19 has decelerated the growth of the reclaimed rubber market. This is because of the temporary shutdown of assembly lines, disruption of the supply chain, and decline in vehicle sales numbers. But as the market is recovering and restrictions are easing down, it is estimated that the Reclaimed Rubber market will recover shortly. According to the International Organization of Motor Vehicle Manufacturers (OICA), stated that Europe vehicle production declined by 24% from 2019 to 2021, and American vehicle production declined by 20% from 2019 to 2021. The decrease in the demand for vehicles during COVID-19 impacted the sales of automotive tires, which significantly impacted the reclaimed rubber market.

Key Trends by Market Segment

By Type:  The whole tire segment held the largest market share of the global reclaimed rubber market in 2021. The automotive industry and OEMs are driving the demand for whole-tire reclaimed rubber.

• The whole tire reclaimed rubber is manufactured from the end-of-life tire and the tread’s peeling. This reclaimed rubber is used in auto tires, conveyor belts, rubber sheets, rubber molded goods, and transmission belts.
• The demand for whole-tire reclaimed rubber is rising because of its high versatility, durability, lower processing cost, and lesser impact on the environment.

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By Application: The tire segment accounted for the largest market share in 2021, owing to the rising demand from the automotive and aerospace tire industry.

• Tire usages are inner liners, inner tubes, tire sidewalls, tire piles, tire tread, and retreads. The demand for tires is rising due to a shift in the trend toward eco-friendly and sustainable materials.
• Furthermore, the easy availability of wasted and disposed tires along with lower reclaim rubber costs, propel the demand for the tire segment.

By End-User: The automotive and aircraft tires held the largest market in 2021, owing to the increasing demand for lower-cost tires, and awareness regarding the usage of sustainable products.

• Aircraft tires are built from conductive elastomer, which contains natural rubber, and are subject to extreme conditions. On the other hand, automotive tires are available in a variety of applications by multiple tire companies.
• Rising rubber costs, soaring environmental concerns caused by dumping used rubber in rivers, and increased energy efficiency, are all those factors that are driving the automotive and aircraft tire segment.

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By Geography: Asia Pacific accounted for the largest market share within the global reclaimed rubber market in 2021, owing to the emerging automotive industry, and houses most of the reclaimed rubber companies.

• According to the International Trade Association (ITA), a USA agency that promotes trade and investment. China continues to be the world’s largest vehicle market by both annual sales and manufacturing output, with domestic production expected to reach 35 million vehicles by 2025.
• The International Organization of Motor Vehicle Manufacturers (OICA), stated that Asia region vehicle production increased by 4,67,73,2785 in 2021 from 4,42,76,549 in 2020. Hence, the rising automotive industry is likely to boost the growth of the reclaimed rubber market.

Competitive Landscape

The global reclaimed rubber market is highly competitive with ~200 players which include globally diversified players, and regional players as well as a majority number of country-niche players having their niche in reclaimed rubber manufacturing and distributing to multiple end-user industries.

Country niche players held the largest market share by type. While large global players control about 10% of the market share by type. Some of the major players in the market include GRP Limited, Fishfa Rubbers Ltd., Huxar Reclamation, Genan Holding Limited, Star Polymers Inc., Enviro Systems AB, J. Allcock & Sons Ltd, Evonik, S. E. Power Limited, Swani Industries, and others.

Recent Developments Related to Major Players

• BlackCycle project funded by Horizon 2020, officially launched in May 2020. The project aims to enable a massive circular economy of tires. The project will design world-first processes to make new tires from end-of-life tires.
• In January 2020, Goodyear and Rubber-Cal announced a partnership with the launch of a new line of rubber flooring & mats. New flooring products are manufactured from 100% recycled rubber materials.

Conclusion

The global reclaimed rubber market witnessed significant growth during the period 2017-2021, the rising automotive tire industry, and increasing demand for low-cost and sustainable tires are driving the growth of the reclaimed rubber market. The growth rate is expected to remain significant during the forecast period.

Though the market is highly competitive with ~200 participants, the majority of country-niche players dominate the market share by type, and global 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.

Ken Research has recently published report titled, Global Reclaimed Rubber Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, market is segmented by Type, Application, and End-User. In addition, the report also covers market size and forecasts for the four regions in the Reclaimed Rubber markets. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Type

• Whole Tire Reclaimed Rubber
• Butyl Reclaimed Rubber
• EPDM Reclaimed Rubber
• Drab & Colored Reclaimed Rubber
• Others

By Application

• Tire
• Non-Tire

By End-User

• Automotive & Aircraft Tires
• Retreading
• Belts & Hoses
• Footwear
• Molded Rubber Goods
• Others

By Geography

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

Key Players

• GRP Limited
• Fishfa Rubbers Ltd.
• Huxar Reclamation
• Genan Holding Limited
• Star Polymers Inc.
• Enviro Systems AB
• J. Allcock & Sons Ltd
• Evonik
• S. E. Power Limited
• Swani Industries

Global Aesthetic Laser Device Market reach a revenue of US$ 1.8 Bn by 2028: Ken Research

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The Global Aesthetic Laser Device Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and reach a revenue of US$ 1.8 Bn by 2028, due to the rising spending & awareness by the consumers of their physical appearances, technical advancements in such treatments, and the increasing affordability of such procedures.

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Key Growth Drivers

• The growing elderly population and the demand from this demographic to go for skin rejuvenation is one of the major factors propelling the Aesthetic Laser Device market growth.
• According to World Health Organization, between 2015 and 2050, the proportion of people aged above 60 in the world’s population will nearly double and it will reach 22% from 12%.
• The strict rules and regulations as well as the safety guidelines laid out by the relevant authorities by different governments is a key challenge to the growth of the market.
• For example, the United States Food and Drug Administration, the federal agency of the Department of Health and Human Services, regulates the types of physical devices that can be made available in the market.
• Similarly, the American Society for Laser Medicine & Surgery, Inc. has laid out some standards for the device operators to meet certain training criteria such as being capable to evaluate the best laser treatment to be conducted based on the condition of the individual.
• The Covid-19 pandemic had a negative influence on the growth of the market for Aesthetic Laser devices as the governments worldwide imposed lockdowns and social distancing norms thereby forcing these facilities to halt their operations.
• According to the American Society of Plastic Surgeons, the number of laser hair removal procedures declined by 28% in 2021 as compared to 2020.
• However, after the lockdowns were relaxed there has been a growth in this market as more and more people are again coming for such treatments.

Key Trends by Market Segment

By Type:  Multiplatform Lasers segment holds the largest share of the Global Aesthetic Laser Type Market in 2021.

• The multiplatform lasers segment dominates the Aesthetic Laser devices market by type as they offer multiple technologies, and are scalable & upgradeable. They are cheaper to operate, occupy less space, and have a low maintenance cost as these require a smaller number of service visits than a standalone laser.
• Also, these provide the flexibility of having multiple standalone systems integrated into a single package and hence provide a better return on investment.

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By Application: The Hair Removal segment dominated the market for Aesthetic Laser devices in 2021.

• More and more individuals are being conscious about their physical appearance and rely on aesthetic procedures for their body hair removal which are the major factors of growth of this segment. As laser hair removal procedures are permanent solutions for hair removal methods, hence this segment is growing.
• Furthermore, the increased number of PCOS (Polycystic ovary syndrome)/PCOD (Polycystic ovary syndrome) patients who suffer from unwanted hair growth are also opting for aesthetic hair removal procedures propelling the market to grow.
• According to an article published by MSD Manual by Merck & Co, Inc. in September 2022, anywhere between 5 to 10% of women in the US suffer from PCOS.

By End User: The Private Clinics segment held the largest market share in 2021.

• The growing number of private surgeons offering minimally invasive cosmetic surgeries through the increasing number of private clinics is driving the growth of the aesthetic laser device market globally.
• According to data published by The Private Healthcare Information Network, a UK government-mandated but independent organization providing data on private hospitals, consultants, and patient visits, between July and September 2021, there was a total number of 186,000 patient admissions in private hospitals.
• Also, many of the consultants of the National Health Service (NHS) of England have shares in private clinics which have generated revenues in excess of GBP 1 Bn since 2015 as per an article by The Guardian.

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By Geography: North America accounts for the largest share among all Regions within the total Aesthetic Laser Device market in 2021.

• The high level of consumer awareness, high-income levels, availability of the latest procedures, and skilled personnel are driving the growth of the North American market.
• In 2020, ~200,000 laser tattoo removal and more than 750,000 laser hair removal procedures were carried out in the US alone as per data provided by Rohrer Aesthetics, Inc., one of the major players in the market.
• The Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period 2022-2028, owing to its high population, being a major destination for medical tourism, and growing awareness among people on aesthetic laser procedures.

Competitive Landscape

The Global Aesthetic Laser Device market is fairly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche product ranges. The Aesthetic Laser Device market's growth is heavily reliant on the adoption of new technologies and advancements in the types of devices being made available to the end users as well as the safety and effectiveness of the procedures performed.

Country-Niche players constitute about ~40% of the competitors, while regional players hold a share of ~35% in terms of the number of competitors. Some of the major players in the market include Cynosure, Inc., Aerolase Corp., Lumenis Be Ltd., Sciton, Solta Medical, SharpLight Technologies Ltd., Cutera, Alma Lasers, Candela Corporation, El.En. S.p.A., Rohrer Aesthetics, Inc. among others.

Recent Developments Related to Major Players and Organizations

• In June 2022, Cynosure launched an upgrade to its PicoSure platform with the PicoSure Pro device which is the only FDA-approved 755nm picosecond laser in the US market. The device is used for skin revitalization and unwanted pigmentation.
• In March 2022, Aerolase extended its universal laser technology treatment range through a partnership with French device maker Clarteis SAS and launched Exci308TM, a handheld excimer phototherapy device.
• In Jan 2022, Lumenis launched the Splendor X device which can be used for pigmented lesions, treatment of wrinkles, vascular treatment, and hair removal. The device uses BLEND X technology and 755nm wavelength.
• In December 2021, Cutera launched the truSculpt flex+ an upgradation to its truSculpt flex muscle building technology. The new technology is a rapid treatment mode and will reduce the treatment time to a fraction of what it was taking earlier.
• In January 2021, Merz Aesthetics and Candela Corporation collaborated to provide comprehensive coverage of both aesthetic laser device products and service offerings in the injectable and skincare portfolios globally.

Conclusion

The global Aesthetic Laser device market is forecasted to continue its stable growth since 2017. One of the major trends driving market expansion is the spiraling demand for minimally invasive procedures as well as the growing awareness and trust of the consumers for such procedures. Though the market is fairly competitive with ~100 participants, few global players control the dominant share in terms of market revenue and regional players also hold a significant share.

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

Ken Research has recently published report titled, Global Aesthetic Laser Device Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, segmented by Type, Application, and End-User. In addition, the report also covers the market size for each of the four regions' Aesthetic Laser device markets. The revenue used to size and forecast the market for each segment is USD million.

Market Taxonomy

By Type

• Standalone Lasers
• Multiplatform Laser
• Others

By Application

• Hair Removal
• Skin Rejuvenation
• Vascular Lesions, Acne & Scars
• Pigmented Lesion & Tattoo Removal
• Leg & Varicose Veins
• Other Applications

By End User

• Hospitals
• Private Clinics
• Medical Spas
• Others

By Geography

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

Key Companies

• Cynosure, Inc.
• Aerolase Corp.
• Lumenis Be Ltd.
• Sciton
• Solta Medical
• SharpLight Technologies Ltd.
• Cutera
• Alma Lasers
• Candela Corporation
• El.En. S.p.A.
• Rohrer Aesthetics, Inc.