US Kidney Cancer Therapeutics and Diagnostics Market Expected to Reach 3 Bn US$ By 2028: Ken Research

 The US Kidney Cancer Therapeutics and Diagnostics Market is poised for a steered growth due to rise in cases of kidney cancer, an increase in success rate of targeted therapies, expansion of hospitals and NCI- funded cancer centers, and constant growth in population.

Story Outline

• Rising cases of Kidney Cancer due to today’s drastic lifestyle changes, environmental exposures to certain harmful chemicals, obesity, and poor diet is propelling the growth of US Kidney Cancer Therapeutics and Diagnostics Market.
• Targeted therapy is emerging as a key therapy to treat kidney Cancer and related diseases. As it directly targets molecular and genetic abnormalities and provides increased success rate and patient satisfaction.
• Expansion of Hospitals and NCI-funded cancer centers are helping patients to get advanced treatment at affordable rates which is also fueling the growth in the market.
• Increasing pool of patients is witnessed due to constant growth in the population of US. The rise in patient pool increases the demand for treatment and diagnostics services, resulting in increased demand for innovative technology and treatment advancement, thus fueling the market’s growth.

US Kidney Cancer Therapeutics and Diagnostics Market is expected to grow at a CAGR of 5% in the forecast period (2022-2028) and is being driven due to rise in cases of kidney cancer, an increase in success rate of targeted therapies, expansion of hospitals and NCI- funded cancer centers, and constant growth in population. This article will provide information about the growth drivers of the US Kidney Cancer Therapeutics and Diagnostics market in detail.

1. Rising incidence of Kidney Cancer cases is giving US Kidney Cancer Therapeutics and Diagnostics Market a promising growth

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The increasing cases of Kidney Cancer in US is seen as a significant factor in propelling the growth of the Kidney Cancer Therapeutics and Diagnostics Market. The visible rise in Kidney Cancer cases is increasing the demand for advanced solutions. This results in a symbiotic relationship between diversification of patient pool and market’s development.

In 2022, out of around a total of 1,918,03 cancer cases of all types approx. 79,000 cases were of kidney cancer (50.290 male 28,710 female), deaths from kidney cancer were around 14,000. According to The American Cancer Society's recent estimates, in 2023 81,800 adults (52,360 men and 29,440 women) in the United States will be diagnosed with kidney cancer. The total number of deaths is estimated at 14,890 (9,920 men and 4,970 women).

In US, kidney cancer is considered the sixth most common cancer in men and the ninth most common cancer in women. The average age at which people are diagnosed with kidney cancer is 64, most of the people diagnosed with kidney cancer are of age between 65 to 74. The average 5-year survival rate for kidney cancer in US is around 77%.

Today’s drastic lifestyle changes, environmental exposures to certain harmful chemicals, obesity, and poor diet seem to be the most common reasons for the gradual growth of kidney cancer in today’s world. These lifestyle changes if ignored for a long time, are taking a toll on our health thus increasing the risk and cases of diseases like kidney cancers which propels the growth of Kidney Cancer Therapeutics and Diagnostics Market.

2. Is the success rate of targeted therapy overcoming the demand for other therapies for Kidney Cancer treatment in US?

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Targeted therapies are becoming a pivotal growth driver of the US Kidney Cancer and Therapeutics Market, due to their effectiveness and increased patient satisfaction rate. The targeted therapy specifically targets the underlying molecular and genetic abnormalities that fuel the growth of kidney cancer. By altering the side effects by traditional chemotherapy and delivering improved treatment outcomes.

The Cohot study shows that targeted therapy for Kidney cancer or Renal Cell Carcinoma (RCC) has shown increased tolerability and survival rates as compared to non-targeted therapy treatment. Seeing these positive results from targeted therapy, the Food and Drug Administration has approved 12 targeted therapies for the treatment of Kidney cancer since 2005.

The continuous growth of targeted therapies' precision and effectiveness have not only enhanced patient satisfaction but also fostered substantial growth in the US Kidney Cancer and Therapeutics Market. As the research continuous leading to the innovation of new therapies and markets expansion.

3. Expansion of hospitals and NCI-funded cancer centers helping the patients with better treatment opportunities

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The growth of the Kidney Cancer Therapeutics and Diagnostics Market is closely related to the expansion of hospitals and medical centers. They play a critical role in the treatment, diagnosis, and supportive care of the diagnosed patient.

There are around 900 hospitals for treating cancer in US. The best cancer hospitals according to US News and World Report in its annual ranking of American Hospitals are, The University of Texas MD Anderson Cancer Center, The Memorial Sloan Kettering Cancer Center, and Mayo Clinic. The US News and World Report ranks hospitals according to the criteria such as 30-day mortality, 30-day readmission, and how long patients tend to stay in hospital.

There are around 72 National Cancer Institute (NCI) designated Cancer Centers, located in around 36 states and the District of Columbia, that have met the standard of care according to NC. Out of these 72 institutions, 11 are Cancer Centers, 54 are comprehensive cancer centers, and 7 are basic laboratory cancer centers. These cancer centers are funded by NCI to deliver cutting-edge technology and advanced treatment care to patients.

Each year approximately 2,50,000 patients receive their cancer diagnosis at NCI-funded cancer centers and thousands of patients are enrolled in clinical trials for cancer at NCI. These NCI centers also provide public education and outreach campaigns on cancer prevention screening and early diagnosis. These NCI centers have worked hard for decades and have increased the number of cancer survivors in Us and have improved patient's life immeasurably.

The growth of hospitals and cancer centers in US supports Kidney Cancer Therapeutics and Diagnostics Market by improving access to advanced technology diagnostics, and patient care ultimately driving market growth.

4. Constant population growth in US, leading to large patient pool and an increase in need for advanced treatment and diagnostics technologies

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An increase in population has continuously contributed to the growth of the Kidney Cancer Therapeutics and Diagnostics Market. As there is a larger pool of potential patients which leads to increased demand for Kidney Cancer and Diagnostics services and treatment options. With a large patient base, pharmaceutical companies and medical product manufacturers are encouraged to invest more in research and development of diagnostic tools and innovative therapies.

According to the data the population of US as of 2022, was approx. 336 million; and around 330 million in 2021. The population growth rate of US in 2022 was around 0.38% as compared to the growth rate in 2021 at around 0.30%. As of 2023, the growth rate is 0.50%.

A larger population allows a broader recruitment pool for clinical trials too, enabling the validation of new treatment modes. Overall, the expanding population is not only driving the growth of US Kidney Cancer Therapeutics and Diagnostics Market but also fuels innovation in the market at a continuous level.

Conclusion

The escalating cases of kidney cancer in the US have created a dynamic synergy that drives the growth of the Kidney Cancer Therapeutics and Diagnostics Market. The visible rise in cases intensifies the demand for advanced solutions, spurring investment in research and development. Targeted therapies emerge as a game-changer, offering precision and effectiveness, while the expansion of hospitals amplifies patient access to cutting-edge diagnostics and treatments. With a steadily increasing population contributing to a larger patient base, pharmaceutical advancements, and research collaboration thrive. As the market evolves to meet these challenges, it stands poised for continuous development, bolstered by innovations that improve patient outcomes and redefine the landscape of kidney cancer care.

US Acute Myeloid Leukemia Market Expected to Reach 1 Billion US$ by 2028

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The US Acute Myeloid Leukemia Market is poised for a steered growth due to advancement in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population.

Story Outline

• Advancement in treatment approaches such as targeted therapies, checkpoint inhibitors, personalized medicines, and immunotherapies, help to enhance treatment efficiency along with minimizing the side effects of the particular treatment and drives market growth.
• Rise in healthcare cost and expenditure led to a rise in number of medical insurers which decreases financial barriers and provides cost-effective treatments to AML patients.
• Increased investments in research and development leading to new and innovative product launches and advanced treatment options, which increases consumer satisfaction hence leading to market growth.
• Increased population growth in US led to an increased number of Acute Myeloid Leukemia cases, resulting in higher demand for treatment options, diagnostics services, and supportive care.

US Acute Myeloid Leukemia Market is expected to grow at a CAGR of 10.5% in the forecast period (2022-2028) is being driven by advancements in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population. This article will provide information about the growth drivers of the US Acute Myeloid Leukemia market in detail.

1.Advancement in treatment approaches leading to high patient satisfaction, survival and remission rates.

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Acute Myeloid leukemia is one of the most common types of Leukemia in adults. Acute Myeloid Leukemia represents 1% of all the new cancer diagnoses found annually in US and has a five-year survival rate of around 29%.

The rising cases of Acute Myeloid Leukemia in US is expected to drive growth in US Acute Myeloid Leukemia Market. According to the American Society of Clinical Oncology in 2021, around 20,250 people (11,230 men and 9,010 women) were diagnosed with Acute Myeloid Leukemia. The American Cancer Society estimates 59,600 new cases and around 23,709 deaths from leukemia of all kinds in 2023.

Advancements in treatment approaches are really important to the US Acute Myeloid Leukemia Market. The innovations such as targeted therapies, checkpoint inhibitors, personalized medicines, and immunotherapies, help to enhance treatment efficiency along with minimizing the side effects of the particular treatment.

By personalizing therapies to patients' molecular and genetic profiles, it is seen that treatment outcomes improve, leading to high patient satisfaction, survival, and remission rates.

With the help of these technologically advanced treatments around 60%-80% of adults of age 60 years or younger and around 50% -65% of those who are above the age of 60 achieved complete remission after receiving the treatments.

The positive impact of these outcomes motivates physicians to utilize these advancements to the utmost. This in return attracts more investment in the US Acute Myeloid Leukemia market.

2.Increasing number of medical insurers providing affordable treatment options to patients, driving the growth of US Acute Myeloid Leukemia market.

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The rise in healthcare expenditure in US is majorly contributing to US Acute Myeloid leukemia Market of US. As the spending on healthcare increases the diagnosed patients get easy and greater access to advanced diagnostics tools, specialized treatments, targeted treatments, and therapies.

There is seen a sudden rise in healthcare expenditure because of the rise in cost of healthcare facilities in US. The record from 2001-2022 shows that the cost of healthcare and medical services has grown at a Consumer Price Index (CPI) of around 3.6% and the CPI of goods and services has grown around 2.6%.

This shows that the cost of healthcare and medical amenities increases at a faster rate as compared to the cost of other goods and services.

US has highest healthcare costs in the world, with an average of around $12800 per person. As noted in 2021, around 300 million people i.e., over 91% of the population of US have access to health insurance with an assortment of both public and private sector insurers.

More people with medical insurance means improved access to healthcare services without being burdened by the full cost of treatments like Acute Myeloid Leukemia.

This will also lead to an increase in clinical trials and will help advance research and development bloom leading to improved treatment adherence and growth of the Acute Myeloid Leukemia market in US.

3.Does investment in research and development enough to drive market growth?

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With a large number of companies involved in the Research & Development process and new product launches, the US Acute myeloid Leukemia Market is expected to drive growth in the forecast period 2022-2028). By investing in R&D, major pharmaceutical companies and research institutions constantly strive to discover new therapy agents, effective treatment approaches, and novel drug compounds for AML patients.

Researching industry accounts for around 70% of US medical and health investment in R&D in 2020. Federal government investments account for nearly one quarter (25%) and the National Institute of Health (NIH) alone accounts for around 20% of all such investments in 2020, out of all medical and health R&D.At this level, NIH stands as the second largest funder in terms of investment in medical and health research after the biopharmaceutical industry.

The new product launches, for instance, in December 2017, Pfizer announced that the Food and Drug Administration (FDA) of US approved Bosutinib for the treatment of patients with chronic myelogenous leukemia (CML).

Similarly, in January 2020 Bristol Myers Squibb received the US FDA’S approval for Onureg for the treatment of adult patients with AML. Moreover, Novartis AG is developing a combination drug (MBG453, Venetoclax, Azacitidine) for the treatment of Acute Myeloid Leukemia, which is in phase 2 of clinical trials. Such positive initiatives for product launches and developments are supporting the growth of the US Acute Myeloid Leukemia Market.

4.Population growth leading to increased AML diagnosis, thus giving rise to the demand for treatment options, diagnosis services, etc., benefitting market growth.

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Acute Myeloid Leukemia is noted as one of the most common types of Leukemia, and its diagnostics are rising globally at a fast rate. Talking about US the constant rise in population in the region is one of the most common reasons of increasing Leukemia cases, which can drive growth of US Acute Myeloid Leukemia Market of US at an expected CAGR of 10.05% in the forecast period (2022-2028).

According to the data the population of US as of 2022, was approx. 336 million; and approx. 330 million in 2021. The population growth rate of US in 2022 was around 0.38% as compared to growth rate in 2021 at around 0.30%. as of 2023, the current growth rate is 0.50%.

As the population of US is rising constantly, the number of Acute Myeloid Leukemia cases are also rising, which results in increased demand for better treatment options, advanced diagnostics services, and supportive care.

The huge pool of patient growth not only led to increase the demand of already existing treatments but also implements the use of research and development to discover more effective therapies.

This demographic shift demands urgency, accessible and advanced treatment options which ultimately bolster market growth creating a multifaceted demand for Acute Myeloid Leukemia related services, which drives market growth and initiates advancements in research and treatment.

Conclusion

The US Acute Myeloid Leukemia (AML) market is poised for substantial growth driven by multiple factors. Advancements in treatment approaches, such as targeted therapies and immunotherapies, are enhancing treatment efficiency while minimizing side effects, leading to higher patient satisfaction and improved outcomes.

Increased investments in research and development are resulting in innovative product launches and advanced treatment options, further boosting market expansion.

Additionally, the constant growth in the US population is driving higher Acute Myeloid Leukemia diagnoses, creating a strong demand for improved treatment options and diagnostics services. Overall, these dynamics are projected to propel the US AML market towards reaching an impressive 1 billion US dollars by 2028.

The US Automotive Paints & Coatings market is expected to become ~USD 3.3 Bn. Industry by 2028

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The United States Automotive Paints and Coatings market which currently has a market size of ~USD Bn. is anticipated to grow at a CAGR of ~9.5% in between 2022-2028 as per the findings of Ken Research.

STORY OUTLINE

• Rising production and sales of automotive vehicles increase the demand for automotive paints and coatings as the vehicles have to be painted.
• Increasing accidents and collisions also increase the demand for automotive paints and coatings as the vehicles have to be painted after being repaired post-accidents.
• Technological advancements in the field of paintings and coatings such as UV curable coatings, E-coat, Robotics and automation, Additive Manufacturing, and Electrochromic coatings also accelerate the US Automotive Paints and Coatings market.
• Rapid pollution caused by automotive paints and coatings allow the market to further develop such paints that cause lesser pollution which ultimately leads to the growth of US Automotive Paints and Coatings market.

A fast growing industry, rising sales of vehicles, technological advancements, and rising accidents along with rising pollution caused by automotive paints and coatings are the various reasons responsible for the growth of US Automotive Paints and Coatings market. This market is anticipated to grow at a CAGR of ~9.5% in between 2022-2028.

• Rising total vehicle sales in the US: raising the demand for Automotive paints & coatings

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Automotive paints and coatings are primarily used in automobiles. Each vehicles whether heavy or light or electric or automotive needs to be painted and coated. For such purpose, wall paints or regular paints cannot be used. For the purpose of painting vehicles, only automotive paints can be used that are specifically designed to be painted on automobiles.

In 2018 and 2019, almost 17 million automotive vehicles were sold each year. However, 2020 saw a sharp decline in the sale of automotive vehicles due to the arrival of covid-19 pandemic. In 2020, only 14.5 million automotive vehicles were sold.

In 2021, the number again started to increase as the covid-19 slowed down. In this year, almost 16 million vehicles were sold. Lastly in 2022, approximately 15 million vehicles were sold.

As the automobiles are manufactured and sold, the demand for automotive paints and coatings also increase as these paints and coatings are to be used in every automotive and vehicle that is manufactured and sold.

Thus, the rising sales of vehicles in the country results in an increased demand for automotive paints and vehicles which ultimately contributes in the growth of US Automotive Paints and Coatings market.

• Rising accidents and collisions results in requirement for repairing which uses automotive paints and coatings.

The number of accidents and collisions have been rising in the United States. When vehicles meet with accidents and collisions, they need to be repaired. And, the process of repairing them use automotive paints and coatings.

Almost 1 in every 63 people have a chance of getting in an accident in the US as per the data of 2020. Out of 163 accidents, 1 turns out to be fatal which means there are 0.7% chances of an accident turning out to be fatal.

Speaking of accidents by vehicles type, then Passenger cars tend to cause most of the injuries (54%) followed by a SUV (21%), and trucks (10%). In 2020, there were at least 5,250,000 car crashes which means on an average, 14,000 car accidents happen daily.

All these numbers are very high and when there are so many accidents happening, the demand for repairing the vehicles also rise. And automotive paints and coatings are widely used in the task of repairing vehicles. This results in heavy demand for automotive paints and coatings which ultimately acts as a driver of the US Automotive Paints and Coatings market.

• Technological advancements: a boon for US automotive paints and coatings industry

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Technology also plays a great role in the growth of the US Automotive paints and coatings market. There are various technological advancements in the field of automotive paints and coatings that make the task of painting a vehicle easier and quicker.

Some of the technologies that are widely used in the process of painting and coatings of vehicles include UV curable coatings, E-coat, Robotics and automation, Additive Manufacturing, and Electrochromic coatings.

UV curable coatings are very fast drying paints. This technology has changed the process of applying automotive paints and technology. Usually, it takes a lot of time for the paints to dry. But with this technology the paints or coating dries very quickly due to the use of UV light.

E-Coat, or otherwise known as Electrodeposition Coatings is a technological advancement that works by immersing the automotive in an E-coat tub and the paint is applied on the vehicle with the help of electric charge.

The usage of robotic systems in automotive paintings and coatings is another technological advancement in this field. These systems or robots generally have an arm which can move in all the angles horizontally and vertically to apply the paint. This methods happens to be very precise and provides full coverage with minimizing wastage.

Additive Manufacturing is another technology that is primarily used to create designs and patterns on vehicles. This technology is really great for those who want to customize their vehicles. It is also known as 3D printing. General Motors is a very famous example of a company who uses this technology.

Electrochromic Coatings is another technology that allows the paint to change its color when an electric stimulus is used. The color change usually takes place due to oxidation.

These were some of the various technological advancements that are used in automotive paints and coatings industry. These technologies make the work of painting easier and quicker which ultimately helps in the growth of US Automotive paints and coatings market.

• Rising pollution caused by Automotive paints and coatings:

Pollution caused by automotive paints and coatings is a dark side of the US automotive paints and coatings industry. Every year, lots of waste is generated through these paints which put a great negative effect on the atmosphere and our lives.

In fact, about 80-90% of all the pollution that is caused by automotive manufacturing comes from the painting and coatings only.

Furthermore, paints and coatings are known to form at least 55% of the micro-plastics in the water bodies. This high amount of micro-plastics pollute the environment and water bodies making it very difficult for the sea animals to survive and thrive.

Lacquer paint is widely used to paint automobiles but is not at all sustainable. In fact, almost 85% of this paint evaporates in the air causing air pollution.

These paints also tend to have a very high VOC which is an initialism for volatile organic compound which simply means that these paints tend to vaporize very quickly polluting the environment.

Waste disposal, air pollution, water pollution, and high VOC are the various down sides of using traditional automotive paints and coatings. However, these disadvantages only accelerate the US Automotive Paint and Coatings market as now it has become very important to develop such paints and coatings that do not pollute the environment. This need to develop low pollution causing paints and coatings becomes a growth driver for the US Automotive Paints and Coatings industry.

CONCLUSION

The US Automotive Paints and Coatings market is primarily concerned with the painting of the automobiles. There are various reasons responsible for the growth of US Automotive Paints and Coatings market such as high automotive vehicles sales, rise in accidents and collisions, technological advancements and pollution caused by automotive paints and coatings. As per Ken Research, this market is anticipated to grow at a CAGR of ~5% in between 2022-2028.

The US Expandable Polystyrene (EPS) market is projected to produce 430 Kilotons Polystyrene by 2028

 The United States Expandable Polystyrene industry which currently has a production capacity  370 Kilotons is anticipated to grow at a CAGR of ~2.9% in the next five years as per the findings of Ken Research.

STORY OUTLINE

• Increasing construction and building processes increase the demand for ESP as it is to be used in areas of thermal insulation, sound proofing, concrete formwork, etc.
• Rising sales of automotive vehicles also raise the demand for ESP as it is typically used for seat cushioning, interior trim components, head impact protection, etc.
• Rising customers’ demands for sustainable packaging also increase the demand for ESP as it is an environment friendly product.
• Rapid urbanization means more e-commerce automotive sales and construction process which all ultimately accelerate the demand for ESP.

A Fast Growing industry, rapid construction processes, rising automotive sales and rapid urbanization along with increasing customers’ demands for sustainable packaging are the various reasons contributing to the growth of US Expandable Polystyrene market. This market is expected to grow at a CAGR of ~2.9% in between 2022-2028.

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1. Rising construction processes: accelerating the US Expandable Polystyrene market

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Buildings and construction processes are a huge user of Expandable Polystyrene (EPS). In constructions and buildings, this compound is used in various areas such as thermal insulation, sound proofing, concrete formwork, roofing systems, acoustic insulation, pre-fabricated panels etc.

The construction processes in the United States are on high rise considering the fact that US is a developed nation. We can also understand this by taking a look at the total amount spent on constructions over the past four years in the US.

Speaking of Residential construction, ~USD 0.8 million, ~USD 1 million, ~USD 1.2 million and ~USD 1.5 million was spent in 2019, 2020, 2021, and 2022 respectively.

For Non-Residential construction, ~USD 1.8 million, ~USD 2 million, ~USD 2.5 million and ~USD 3 million was spent in 2019, 2020, 2021, and 2022 respectively.

For Public construction, ~USD 3.8 million, ~USD 4.2 million, ~USD 5.5 million and lastly ~USD 6 million was spent in 2019, 2020, 2021, and 2022 respectively.

As the construction in the country rises, the demand for Expandable Polystyrene rises as it is to be used in various areas of building also, which helps in the growth of the US Expandable Polystyrene market.

2. Rising automotive vehicles: rising the demand for EPS in the country

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Automotive vehicle industry is another area where there is a high use of Expandable Polystyrene. This is primarily due to the fact that EPS is used in various areas of automotive vehicles such as seat cushioning, interior trim components, head impact protection, Instrument panels, child car seats, acoustic insulation, sun visors, cavity filling, etc.

Automotive vehicles are on rise in the United States. Almost 92% of the households in the US have at least 1 automotive vehicle. Moreover, US have always sold automotive vehicles equal to or more than 14 million.

For instance, in 2018, there were ~17.25 million automotive vehicles sold. In 2019 as well, approximately 17 million automotive vehicles were sold. US witnessed a sharp decline in the sale in 2020 considering the global pandemic. In 2020, almost 14.5 million automotive vehicles were sold.

In 2021, the number again started progressing and almost 16 million automotive vehicles were sold. Lastly in 2022, again, almost 15 million automotive vehicles were sold.

With the rising sales of automotive vehicles, the demand for Expandable Polystyrene also increases since it is used in many areas of vehicles. The rising demand for EPS ultimately contribute to the growth of the US Expandable Polystyrene market.

3. Rising sustainable packaging: making use of Expandable Packaging

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The awareness regarding sustainable packaging is rising in the United States. Nowadays, customers are keen in ensuring that their products have sustainable packaging used even if it is costlier than the normal packaging.

In fact, 60-70% of the US buyers have no problem in paying higher price if it is getting them sustainable packaging. Even in the Covid-19 pandemic, more than 55% of the US buyers revealed that the chances of them buying a product are more if it has sustainable packaging used.

More than 70% of the US population states that they want to change their buying habits and shift towards the products that make use of sustainable packaging. And thus, more than 65% of the people think that it is extremely important for the environment that their products are in sustainable packaging.

The growing customers’ demands of sustainable packaging increase the demand for Expandable Polystyrene thereby contributing to the growth of US Expandable Polystyrene market as this compound is environment friendly.

This is primarily due to the fact that this compound has higher durability and provides resistance to moisture meaning it can be used over and over, which means it can be recycled. Moreover, due to its amazing thermal insulation, it also helps in saving energy by reducing the requirement of heating and cooling in the buildings.

4. Rapid urbanization: boosting construction, E-commerce and automotive vehicles

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The urbanization is increasing every year in the United States. In 2000s, 79% of the population was living in urban areas and 21% were living in rural areas. In 2010s, the number rose to 81% of the population living in the urban areas and 19% living in the rural areas. Currently, 83% of the population is living in urban areas and 17% of the people are still living in rural areas.

In 2030s, this number is projected to become 85% of the people living in urban areas and only 15% living in rural areas. In 2040s, we will have 87% of the people living in urban areas and only 13% living in rural areas. Furthermore, in 2050s, we will have 89% people living in urban areas and only 11% living in rural areas.

With rapid urbanization, the construction processes nationwide also increase. The E-Commerce also increases which ultimately increase the work of the packaging industry. Moreover, with rapid urbanization, the demand for automotive vehicles also rise which results in high sales of the automotive vehicles.

Since automotive vehicles, packaging and construction processes use Expandable Polystyrene as a key element; thus, the rapid urbanization ultimately helps in accelerating the US Expandable Polystyrene market.

CONCLUSION

Expandable Polystyrene (EPS) is a type of lightweight cellular plastic which is used in various fields such as building and construction, automotive vehicles, and sustainable packaging. Hence, the rise in automotive sales, rapid construction processes, and customer’s demands for sustainable packaging along with rapid urbanization are the various reasons that drive the US EPS market. As per Ken Research, this market is expected to grow at a CAGR of 2.9% in the next five years.

US Breast Pumps Market Expected to Reach 2.5 Billion USD by 2028

 The US Breast Pumps Market is poised for a steered growth due to rise in birth rate, increased employment opportunities for women, growing awareness about breastfeeding benefits, and increasing online retail and e-commerce spending.

Story Outline

• Constant increase in birth rate in US, raising the demand for breastfeeding products and accessories such as breast pumps, thus leading to market growth.
• With 57% of labor force participation and an increased employment rate of 55% among women, breast pump is emerging as a boon for working mothers to manage their personal as well as professional life together.
• The increasing knowledge, awareness, and acceptance regarding breastfeeding, are pivotal factors that are driving growth of US Breast Pumps Market. Many new mothers are prioritizing breastfeeding their child rather than opting for powdered milk after knowing the nutritional benefits of breastfeeding for the child as well as the mother too.
• Increasing online retail and e-commerce spending has been seen as an important factor for the Growth of US Breast Pumps Market. As online platforms provide customers with a wide variety and easy accessibility of breastfeeding products.

US Breast Pump Market is expected to grow at a CAGR of 10% in the forecast period (2022-2028) and is being driven due to rise in birth rate, increased employment opportunities for women, growing awareness about breastfeeding benefits, and increasing online retail and e-commerce spending. This article will provide information about the growth drivers of the US Breast Pumps Market in detail.

1.  Constantly increasing birth rate in US increasing the need for breast pumps for new mothers.

A constant increase in the birth rate of US has directly benefitted the breast pump market by expanding the need and potential customer base of the US Breast Pump Market. As more babies are born the demand for breastfeeding-related products, such as breast pumps also increases. This surge in childbirth creates a larger audience of new mothers who requires breastfeeding solutions to make their life easier and more convenient.

In 2021, the number of births and general fertility rate in the United States increased for the first time in the last seven years. The total number of births in 2021 was reported around 3.65 million which is a 1% increase from that of 2020. The general fertility rate in 2021 was approx. 56.6 births per 1,000 women ages 15-44. In 2022, the estimated number of babies born across US was 3.66 million according to provisional data gathered from more than 99% of birth certificates issued that year.

The modest increase in birth rates in 2021 as well as 2022, has given rise to the use of breast pumps by new mothers leading to increased sales and for retailers and manufacturers. The increased demand also prompts manufacturers to innovate and launch new and improved breast pumps to cater to the evolving needs of the expanding customer segment.

Considering the rising birth rates, product innovation and increasing demand for breast pumps the US Breast Pumps Market is expected to grow at an expected CAGR of 10% in the forecast period 2022-2028.

2. Rise in labor force participation and employment rate, increasing the demand for breast pumps among working mothers.

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The increased employment rate in US for women has shown a major impact on US Breast Pump Market. As more women are inclined towards joining workforce, the demand for breast pumps is rising. When a woman is working, she needs to balance breastfeeding her child along with fulfilling the professional commitments at the workplace. Working women often feel the need to use breast pumps to express and store breast milk, as this provides nourishment to their infants while they are away from home for work.

The labor workforce participation rate of women in 2022, was around 57%. The age groups 25 to 34 years, 35 to 44 years, and 45 to 54 years all had participation rates above 75%, with 25 to 34 years having the highest participation rate of around 77.6%. Women with ages 16 to 19 had participation rate of around 37.2%, while women 65 years and older had a participation rate of around 15.5%. The involvement of women in the labor market has changed majorly in the past several years. Women received much more level of higher education from 1970 to 2021.

The proportion of women between the age group of 25 to 64 who held a college degree quadrupled. In 2022, the employment rate of women stands around 55%. The above data, increased women labor workforce, and employment rate fosters greater reliance of women on breast pumps. Employment-related laws such as provisions in the Affordable Care Act assures that workplace accommodations for new and nursing mothers, which increases the demand for breast pumps. All these factors influence women to use breast pumps while pursuing their professional careers, thus fueling the Breast Pump Market of US.

3. Does increasing knowledge, awareness, and acceptance about breastfeeding benefits, affecting the growth of US Breast Pumps Market?

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The increasing knowledge, awareness, and acceptance regarding breastfeeding, are pivotal factors that are driving growth of US Breast Pumps Market. As new mothers get to know about the dietary and immunological benefits of breast milk, they prefer to breastfeed their child for at least 6 months after the birth of the child. This growing awareness has a direct relation to the demand for breast pumps in the US market.

According to the data in 2022, around 83.2% of infants initiate breastfeeding at the time of birth with around 24.9% of the babies are exclusively breastfed till 6 months of age. From 2007 to 2022 there is a steady increase in breastfeeding rates over time. According to the Centers for Disease Control and Prevention, three out of four women (75%) in US breastfeed their child.

Breastfeeding not only protects babies from infections and diseases but also decreases the risk for mothers to have breast and ovarian cancers. The studies published in the journal Pediatrics estimated that almost 90% of the families in US follow guidelines related to breastfeeding exclusively for six months. By doing this those families saved approximately $13 billion annually from reduced medical and other costs.

This shows that the acceptance of breastfeeding by new mothers as a healthier choice enhances the outcomes of using breast pumps. The increasing acceptance and awareness regarding breast pumps create a symbiotic relationship with the breast pump market, hence helping the breast pump market of US to grow.

4.  Online retail and e-commerce making breast pumps easily accessible to the new mothers.

 

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Online e-commerce plays a significant role in increasing the growth of breast pump market in US. Online platforms provide convenience and accessibility to a vast variety of products to consumers who shop for breast pumps and related products. The online accessibility of such products allows customers to compare prices, customer reviews, etc. to make informed purchasing decisions while shopping online.

The e-commerce sales grew around 7.7% in 2022, year over year there is a dramatic drop from the double-digit e-commerce growth in each of the past five years, but the growth in 2022 is still enough to set a record high. The noticeable growth in sales comes with a slight bump in e-commerce penetration from 21.0% in 2021 to 21.2% in 2022. E-commerce share of total retail growth in 2022 was 23.8% year over year. That’s a slight down from 25.2% share of total retail growth in 2021.

Overall, the e-commerce spending in the past year shows that online retail and e-commerce spending has revolutionized the breast pumps market. By providing choice, convenience, and information to the new mothers the US Breast Pumps market is achieving record breaking growth along with the emerging players in the industry.

Conclusion

The growth of the US breast pump market is being driven by a combination of factors. The rising birth rate, increased employment of women, growing awareness about breastfeeding benefits, and the role of online e-commerce are collectively shaping the market's expansion. As birth rates increase, demand for breastfeeding solutions such as breast pumps rises. More women entering the workforce further fuels the need for convenient breastfeeding options. Increased awareness of breastfeeding benefits positively impacts demand. Additionally, the accessibility and convenience provided by online e-commerce platforms have transformed how products reach consumers. These factors synergistically contribute to the remarkable growth of the US breast pump market.

On the Path of Innovation and Safety: Middle East Automotive Tire Pressure Management System Market is shining: Ken Research

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The Middle East Automotive Tire Pressure Management System Market is estimated to grow at a CAGR of 10% between 2022-2028. The primary growth drivers of the market are rising consumer awareness about road safety, crucial advancements in TPMS technology, luxury and premium vehicle segments, government regulations and safety standards.

STORY OUTLINE

• In 2019 alone, around 2 Mn commercial and passenger vehicles were sold in the Middle East region where Saudi Arabia dominated the market.
• In Saudi Arabia and Qatar, a combined 70% of passenger cars with TPMS systems employ the recently introduced REDI-sensor line.
• In May 2022, Continental AG revealed an advanced combine-tire monitoring framework for its Combine Master and Combine Master VF tires called

According to Ken Research, The Middle East TPMS market is increasing significantly and is forecasted to grow more in the forecasted period. Saudi Arabia is the biggest region for the TPMS market in the Middle East market with a market share of 23%. In 2021, Saudi Arabia recorded 22 Mn units of tire sales, the highest in the whole Middle East region. In January 2019, UAE (United Arab Emirates) announced the construction of its first tire plant in the region which will be spread over 275000 square meters. The plant costs $600 Mn and can produce 3 Mn passenger car Radial (PCR0 tires annually.

1. Influence of COVID-19 on Middle East TPMS Market

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• Before the pandemic, the market of TPMS was growing at rapid speed as the market for automobile (Passenger and Commercial Cars) were increasing significantly. In 2019 alone, around 2 Mn commercial and passenger vehicles were sold in the Middle East region where Saudi Arabia dominated the market.
• The ban on travel and public lockdowns amid the global lockdowns affected the TPMS market in the Middle East heavily as the production of vehicles was stopped. Subsequently, the demand for the automotive industry decreased by 30% in the Middle East region which resulted in the downfall of the TPMS market.

Post-pandemic the automotive sector bounced back and showed significant growth in terms of sales and revenue. The industry resumed its operations and witnessed remarkable growth. The market is further expected to reach a value of $84 Mn by the end of 2026. This will help the TPMS market grow immensely as the growth of the automobile industry will automatically increase the sales and revenue of TPMS in the region.

2. Current Scenario ofthe Middle East TPMS Market

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• The Middle East Automotive Tire Pressure Management System Market is expected to witness remarkable development as the market is projected to increase at a CAGR of 10 %. The direct TPMS segment is dominating the market as these are adequately inflated tires that experience less tire wear and rolling resistance.
• Most of the countries in the Middle East region have made it mandatory for car manufacturers to use TPMS (Tire Pressure Monitor Management System) systems in the manufacturing of vehicles (Both Commercial and Passenger). Saudi Arabia and UAE are the two countries that have strict rules regarding road safety in their respective kingdoms.

The demand for the In-built sensor systems in TPMS is enhancing owing to different factors. The government and customers both are finding this sensor more accurate and effective. An industry leader in production and distribution, Continental, recently introduced a third multi-application TPMS sensor. In Saudi Arabia and Qatar, a combined 70% of passenger cars with TPMS systems employ the recently introduced REDI-sensor line.

3. Growth drivers of the Middle East TPMS Market

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• The market is influenced by a number of factors, some of which are crucial advancements in TPMS technology, rising consumer awareness of road safety, luxury and premium vehicle segments, government regulations and safety standards, concerns about fuel efficiency and the environment, and most importantly, the ongoing growth of the automotive industry.
• Middle Eastern countries always pay attention to road safety that’s the reason that the Middle Eastern countries have one of the lowest accident rates in the world. The strict rules and regulations in the majority of these countries made TPMS systems compulsory for all vehicles. Thus, Israel, a country in the Middle East ranks 8th in the lowest number of road accidents worldwide.
• Another factor impacting the growth of TPMS in the region is the growing luxury and premium vehicle segment in the region. UAE is leading the region in this region, the luxury car segment in UAE is estimated around $450 Mn in 2022.
• Legitimately inflated tires improve fuel proficiency by decreasing rolling resistance. With expanding concerns about fuel costs and environmental sustainability, customers and fleet operators are likely to show interest in innovations that help them save fuel and decrease their carbon impression, making TPMS an appealing choice.

4. Major Players in the Middle East TPMS Market

• Schrader Electronics, ZF Friedrichshafen AG, Pacific Industrial, PressurePro Enterprises Inc, Sensata Technologies, DENSO Corporation, Robert Bosch GmbH, Hella KGaA Hueck and Co are some of the key players in Middle East Automotive TPMS Market.
• One of the industry leaders in the Middle East for TPMS, Schrader Electronics, said in 2018 that it would invest $14 Mn in new vehicle product research. The Parent Company of Sensata also announced the opening of a new $16.5 million Research & Development facility.
• In May 2022, Continental AG revealed an advanced combine-tire monitoring framework for its Combine Master and Combine Master VF tires called Conti Pressure Check, planned to monitor tire pressure & temperature.

Conclusion

The Middle East TPMS market's trajectory reflects a motivating journey of resilience and development. The pandemic may have momentarily slowed its pace, but the recuperation has been nothing short of exceptional. With Saudi Arabia and UAE driving the pack, the region's commitment to street security and advancing technology has cleared the way for TPMS adoption. A strong car industry rebound further impels this development, underscoring the advantageous relationship between security and progress. As the market gears up for an anticipated 10% CAGR, collaborations among industry pioneers and continuous technological progressions guarantee an energizing road ahead. With the wheels set in motion, the Middle East TPMS market races toward more secure, more productive, and innovatively progressed roads.

USA Molecular Weight Marker is expected to reach $350 Mn in 2028: Ken Research

 Creating innovative products in the domain of life sciences & increasing use of personalized medicine ensures the increasing market for molecular weight markers.

In the realm of biotech breakthroughs, CRISPR gene editing & precision medicine markers stand as game-changers. These innovations allow us to re-write genetic instructions & unlock medical possibilities. Simultaneously, the demand for molecular weight marker surges, serve as the essential tools in characterizing DNA, RNA & proteins. These markers are pivotal in shaping the future of tailored medical approaches.

Story Outline

• CRISPR gene editing revolutionizes biotech by allowing gene manipulation, impacting medicine & fueling demand for biomolecule markers.
• Molecular weight marker demand rises in research, academia & pharmaceuticals, driven by accurate DNA, RNA and protein sizing needs.
• Integrating molecular weight markers with Software-as-a-Medical Device pioneers personalized medicine, optimizing treatment through real time patient feedback & monitored strategies.
• According to Ken Research, the USA Molecular Weight Marker market is expected to reach $350 million in 2028, due to the increasing advancement in molecular weight marking technology & varied applications across research & medical domains, which will help in speeding the growth of the market.

1. Revolutionizing Biotech: From CRISPR Gene-Editing to Precision Medicine Markers

Strengths & Weaknesses of CRISPR Gene-Editing

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There have been many ongoing innovations in biotechnology. This includes Gene Editing Technology where the biochemists worked on a technique for editing genes which is called CRISPR (clustered regularly interspaced short palindromic repeats), which enables scientists to enable to change & turn on & off a cell’s hereditary instructions.

Discoveries like these have a wide- ranging impact on medicine. Such researches are likely to drive the demand for biological molecule markers. These markers are essential for accurately determining the size of DNA, RNA & protein molecules.

2. Meeting the Rising Demand for Molecular Weight Markers in Life Sciences

Protein Molecular Weight Marker in Life Sciences

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As researches in life sciences & medical fields continues to expand, the demand for molecular weight markers in laboratories, academic institutions & pharmaceutical companies are expected to grow. For instance, Perkin Lemer offers research & development solutions for every step- from basic research through the development of new drugs.

They do this through cellular imaging & analysis, in vivo pre-clinical imaging solutions, drug reagents solutions, radiometric solutions, to name a few.

According to Ken Research, the USA Molecular Weight Marker market is expected to reach $352 million in 2028, due to the increasing advancement in molecular weight marking technology & varied applications across research & medical domains, which will help in speeding the growth of the market.

3. Elevating Molecular Weight Analysis with ThermoRule’s Innovative Solutions

Pierce Protein-Stained Molecular Weight Marker by Thermo Scientific Inc.

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Thermo Rule Scientific Inc. in United States offers innovative products to check the molecular weight. Some of these include Thermo Scientific PageRuler Plus & Protein Ladder, which is a mixture of nine blue, orange & red stained proteins. The protein is available in a ready-to-use format for direct loading onto gels, with no need to heat, reduce or add sample buffer prior to use.

Innovations that make molecular weight markers easy to use, more compatible & reliable with various techniques are likely to attract researchers & laboratories.

4. SaMD & Molecular Weight Markers: Pioneering Personalized Medicine

Personalized medicine in hypertension

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The trend towards personalized medicine requires a deeper understanding of genetic variations & protein profiles. Taking a patient-centric approach to treat hypertension, a study published in Journal of the American College of Cardiology demonstrated how a drug plus software-as-a-medical-device (SaMD) combination product can facilitate personalized drug optimization by integrating real-time patient feedback & closed loop model of care with traditional therapeutics.

Molecular weight markers are essential to characterize biomolecules, which is critical in developing personalized treatment strategies.

Conclusion

In the rapidly evolving technology landscape of biotechnology, innovations like CRISPR gene editing & precision medicine markers are re-shaping possibilities. These advances hold immense potential, allowing scientists to manipulate genetic instructions & characterize breakthroughs about medicine. Integrating software-as-a-medical device (SaMD) with molecular markers paves the way for personalized medicine, enhancing patient care through tailored drug optimization. These collective strides underscore the role of molecular weight markers in propelling medical progress.

The US Functional Flour market is projected to reach USD 30 Bn. by 2028

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The United States Functional Flour market which currently has a market size of USD 20 Bn. is anticipated to grow at a CAGR of ~7% in between 2022-2028 as per the findings of Ken Research.

STORY OUTLINE

• Food allergies are on rise in the United States which often results into dietary restrictions. Other alternative for high nutritious diets usually use functional flours. Thus, allergies are linked to causing demand for functional flours.
• Increasing customers’ demands for Gluten Free (GF) products due to the prevalence of Celiac Disease, Gluten Intolerance, Wheat Allergy, Thyroid problems and various other autoimmune conditions. GF products are known to be a huge user of functional flours.
• Rapid urbanization makes people aware about the benefits of using functional flours. Moreover, it is much easier to access functional flours in urban areas than rural areas. Thus, urbanization also contribute to the US Functional Flour market.
• Various technological advancements such as Extrusion Cooking, Micronization, Enzyme Treatment, Cryogenic Milling, and Fractionation make the process of manufacturing functional flours efficient and quick which ultimately helps in accelerating the US Functional Flour market.

A fast growing industry, rising cases of food allergies, rapid urbanization and technological advancements along with the rising demands for gluten free products are the various reasons responsible for the growth of US Functional Flour market. As per Ken Research, this market is anticipated to grow at a CAGR of ~7% between 2022-2028.

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• Rising flood allergies in the US: increasing the demand for Functional Flour

Functional Flours can be best described as alternative flour options that are different from traditional flours. These flours are associated with having more health benefits as compared to traditional flours. The growing allergies in the United States is the primary factor that increases the demand for functional flours in the US.

In the United States, over 30 million people suffer from food allergies. Out of the 30 million people, almost 5.5 million happen to be children aged under 18; which means that almost 1 in every 13 children have some sort of food allergy.

Milk, Peanut, Eggs, Nuts, and Wheat are the top five allergy causing foods in the US. Over 6 million people are allergic to milk and over 6 million people are allergic to tree nuts in the United States.

Celiac Disease and Gluten Intolerance is also on rise in the United States. These conditions increase the demand for functional flours as most of the traditional flours have gluten in it. Almost 1 in every 100 people in the US have celiac disease. Moreover, almost 6% of the total US population has the prevalence of Gluten Intolerance.

Furthermore, at least 23% of the US population prefer buying Gluten Free products. Here it should be noted that this number comprises of people who are gluten intolerant as well as those who buy Gluten Free products due to their personal choices.

All of these high prevalence of allergies increase the demand for functional flours as most of the traditional flours have gluten along with the traces of milk, soy and nuts. The increase in the demand for functional flours ultimately contribute to the growth of US Functional Flour market.

• Rapid Urbanization: making people health conscious which makes them explore functional flours:

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Urbanization also impacts the demand for functional flours and contribute to the growth and expansion of US functional flours market. The rise in awareness about functional flours regarding its health benefits is a major factor that increases the demand for functional flours.

These days, people without any dietary restrictions are also shifting towards alternative or functional flours because of their proven health benefits. Some of the benefits of functional flours include low carbohydrates and high protein as well as fiber.

Generally, people get to know these flours and their health benefits better in urban areas as compared to rural areas primarily due to E-commerce growth, Internet, Educational Institutions and workplaces. Moreover, the availability of functional flours is also easier in urban areas than rural areas. Thus, urbanization has a lot to do in contributing to the growth of US functional flours market.

In 2000s, 79% of the total US population was living in urban areas. In 2010s, 81% of the total population was engaged in urban areas. This number rose to 83% in 2020s.

Furthermore, at least 85% of the total population is projected to live in urban areas in 2030s, 87% population in 2024s and 89% population in 2050s.

Thus, the latest trends show that urbanization is rapidly increasing in the United States and it will continue to increase the demand for functional flours thereby accelerating the US Functional flours market.

• Rise in the sales of Gluten Free products: a field which makes effective use of functional flour

Nowadays, people are shifting their focus towards gluten free (GF) products from traditional gluten containing products. The demands for GF products is constantly rising due to the high prevalence of celiac disease, gluten intolerance, thyroid problems and various other autoimmune diseases. Many people believe that they have benefitted from GF products.

GF products make use of functional flours greatly as these flours typically tend to be gluten free. Not only people with health conditions are preferring GF products but normal people are also going ahead with gluten free living due to many benefits.

And this trend can be understood by taking a look at the retail sales of gluten free products in the US. In 2016, almost 1.6 Bn. GF products were sold. In 2017, almost 1.7 Bn. GF were products. This number rose to 1.8 Bn. GF products sales in 2018. In 2019, almost 1.9 Bn. GF products were sold. This number rose to almost 2 Bn. GF products in 2020. Furthermore, this number is only projected to increase in the upcoming years.

Since, Functional flours are primarily used in making GF products; thus, as the demand for gluten free products rise, the demand for functional flours also rise thereby contributing to the growth of US Functional Flour market.

• Technological advancements in manufacturing functional flours:

There are various technologies used in the US Functional Flour market which makes the task of creating functional or specialized flours easier and quicker. Some of the most common technologies that are used include Extrusion Cooking, Micronization, Enzyme Treatment, Cryogenic Milling, and Fractionation.

Extrusion Cooking can be best described as a high pressure and temperature process that works by putting a dough through a small opening. This process then transforms the starch structures present in the flour to make their gelling and water absorption better.

Micronization is another technological advancement that works by decreasing the size of particles of the flour to a very fine level with the help of advanced equipment. This process results into an increased surface area which ultimately results into better absorption, dispersion and solubility.

Enzyme Treatment is another advancement which works by making use of enzymes to help in the breakdown of numerous compounds primarily protein, and starch. The successful treatment of flour often results in better nutrient component, and gelling ability.

Cryogenic Milling is a very useful technology that aims to preserve the nutrient properties of the flour. It works by following the process of grinding the flour but at very low temperatures. Through this process, the size of flour’s particles is decreased but the nutrient properties are sustained.

Fractionation is a very useful technology of making functional or specialized flours which works by dividing the flour into fractions in different segments such as proteins, starch, various nutrients etc. These fractions can later be combined together to form functional and specialized flours.

To make functional flours we have various technological advancements taking place. These technologies make process of making functional flours not only easier but also very quicker. The quicker the functional flours products are made, the quicker is the growth of the US Functional Flour market.

CONCLUSION

The United States Functional Flour market is primarily concerned with the manufacturing and use of alternative flours which are different from our traditional flours within the US.

There are various reasons behind the growth of this market. Some of the major reasons include rising food allergies, rapid urbanization and rising demands for gluten free products along with the technological advancements in the field of flour manufacturing.

As per Ken Research, this market is anticipated to become USD 30 Bn. market by growing at a CAGR of ~7% in between 2022-2028.

US Dry type transformers Market expected to grow with CAGR of ~2% by 2028

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Dry type transformers are the trending transformers, which are hyping in the market, as they do not require cooling since their windings are enclosed in epoxy resin, rendering them useful for indoor as well as outdoor applications.

STORY OUTLINE

• According to Ken research, the US Dry type transformers market at a CAGR of ~2% during the forecast period (2023-2028).
• Factors driving the US Dry type transformers market are demand for Dry type transformers of smaller size and increased performance.
• Trends in US Dry type transformers market which are exaggerating the market by various key players.
• Competitive landscape of the US Dry type transformers market, which are making it, grow higher.

1.Growth of US Dry type transformers market is getting higher with ~2% CAGR.

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US Dry type transformers market is on a constant rise during the forecast years. They show a CAGR of ~2% during the forecast years 2022-2028 and will continue to grow exponentially. The basic reason for this growth is the compliance-driven need for the revamping of the already installed electrical systems.

 For the functioning of electrical infrastructure, Transformers have been and will continue to remain fundamental need and unlike the oil type transformers, they do not require cooling since their windings are enclosed in epoxy resin, rendering them useful for indoor as well as outdoor applications.

2.Which are the driving factors for the growth of US dry type transformer market?

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The driving factors of the market is the need compliance-driven need for the revamping of the already installed electrical systems and the need for reduction of greenhouse gas emission. The other factors are that they are cost-efficient and often come in a compact size which are ideal parameters for deployment of dry type transformers.

The driving factors are hyping the market to grow in positive direction. The market is extremely fragmented and locally variable with many players. Siemens AG, Schneider Electric SE, Hammond Power Solutions Inc., ABB Ltd. and Hyundai Electric & Energy Systems Co., Ltd. are the major companies operating in the Dry-Type Transformer Market.

Environmental degradation is not an issue with the dry type transformer technology. It also has much factors like possessing better impulse and short circuit strengths. Therefore, it provides a vast array of applications like mostly in residential buildings to small commercial complexes.

3.Trends which are hyping the growth of US Dry type transformers market

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The government has been promoting the utilization of dry type transformers with higher energy efficiency to minimize carbon emissions. The implementation of the US Department of Energy (DOE) energy efficiency standards can lead to a reduction of around 264.7 million MT of carbon emissions that are equivalent to the yearly greenhouse gas emissions of nearly 51.75% million automobiles.

The US amendment also predicts that from 2016, adherence to the rule can effectuate total cost reduction of about $12.9 billion to both residential and commercial consumers, triggering the North America dry type transformer market share over the upcoming years.

Many players are doing launches, acquisitions and ventures in the market resulting in its growth. Siemens Energy launched an innovative dry-type single-phase transformer for pole applications. Designed for the technological requirements of the American grid, the new cast-resin distribution transformer provides a reliable and sustainable alternative to oil-filled transformers. Hitachi Energy launched a plug-and-play dry-type traction transformer with an integrated cooling system which is designed to reduce CO2 emissions and total operating costs while increasing energy efficiency.

4.Outlook of US Dry type transformers market is expected to grow higher

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The driving factors are publicizing the market to grow in positive direction. The market is extremely fragmented and locally variable with many players. Siemens AG, Schneider Electric SE, Hammond Power Solutions Inc., ABB Ltd. and Hyundai Electric & Energy Systems Co., Ltd. are the major companies operating in the Dry-Type Transformer Market.

Distribution transformers are designed to offer maximum efficiency at lower loads. Moreover, the transformers' voltage regulation is kept to a minimum to improve efficiency. As a result, distribution transformers are designed to have a small leakage reactance.

These reasons are making sure that the market of Dry type transformers will grow in recent years in United States with a CAGR of ~2%.