Monthly Archives: August 2021

Online Fitness Market Technology Advancements, Regional Demand and Growth Dynamics to 2026

The online fitness market size is expanding significantly during the forecast timeframe due to the rising demand for AR & VR based fitness programs.

Delaware , United States – August 5, 2021 /MarketersMedia/ —

The online fitness market is impacted by rising health consciousness, growing prevalence of online health consultations, and better internet connectivity. Virtual fitness classes are mainly conducted via live streaming, which enables online fitness coach to carry-out a real-time interactive consultation with trainees and monitor their live performances. Companies like Blink Fitness and 305 Fitness extensively use social media platforms such as Facebook and YouTube to live-stream their fitness sessions.

With a rising preference for comfortable in-office or in-home customized workout sessions, online fitness programs are likely to experience substantial growth in the coming years. According to Global Market Insights, Inc., global online fitness market size is projected to surpass US$30 billion by 2026. Mentioned below are some facts driving the market trends.

Rapid adoption of smartphones

The growing popularity of advanced devices like smartphones and tablets, and the presence of enhanced wireless infrastructure enabling high-definition online video streaming on smart TVs will maintain a sustainable market environment for the online fitness market. Personal laptops are also portable and easy to use gadgets that are extensively used to stream online fitness videos. These devices render the facility to download software applications as per user convenience.

Additionally, the introduction of high-quality smart TVs by prominent companies such as Sony and Samsung will positively influence the demand for HD videos of virtual fitness classes for the superior audio-visual experience. To support people during this COVID-19 pandemic, Fitbit, a wearable giant has announced that it will be offering a 90-day free trial of its Fitbit Premium and Fitbit Coach services, indicating a wider scope for such brands.

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Prevalence of corporate gyms

The growing trend of establishing gyms and fitness programs in corporate premises will propel virtual fitness development. To enhance employees’ work productivity and ensure their health and wellbeing major companies like Intel Corporation, Microsoft Corporation, and Google LLC have highly equipped integrated fitness centers on their premises.

Collaborations of several health clubs with corporate houses to establishing a gymnasium on the premises will help in maintaining a healthy working environment. For example, in a bid to help organizations render in-person and online fitness classes to their employees, a health club franchise Retro Fitness is offering corporate membership plans, with around 120 locations across the U.S.

Prevalence of CVD in Europe

The increasing popularity of on-demand cardio exercise sessions on bikes, treadmills, and climbers in Europe will foster online fitness market expansion in the region. Erratic lifestyle and unhealthy food intake coupled with the rising prevalence of obesity could lead to chronic diseases. As per the European Heart Network (AISBL), nearly 45% out of all deaths in the region are caused by severe cardiovascular diseases. In Central and Eastern Europe, the major cause of deaths in these regions is ischemic heart disease (IHD).

Regular cardio exercises through real-time fitness videos could help in reducing the vulnerability of getting cardiovascular disease. Online real-time videos facilitate exercisers to share their feedback, enquire fitness-related queries, and enhance the all-round workout experience by getting personalized recommendations by trainers instantly.

Cardiovascular equipment for immunity

Cardiovascular equipment plays an important role in reducing extra kilos from the body and maintaining good heart health and lowering blood pressure. These cardio machines contain an integrated output screen that displays important statics regarding the workout. The escalating awareness of physical fitness, health consciousness, and boosting immunity to combat deadly viruses like COVID-19 will positively influence the adoption of cardio exercises and workout session daily among consumers, also needing online instructions.

Amid the COVID-19 lockdown, online fitness platforms are experiencing a rising number of new users as well as prolonged duration time spent while working out through their platforms. For instance, a health and fitness platform, HealthifyMe, has observed a surge of about 20% in the number of sessions users participate per week.

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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OTC Drugs Market Growth, Competitive Analysis, Future Prospects and Forecast 2027

OTC Drugs Market size is expected to witness a lucrative growth during the forecast timeframe owing to the growing trend of self-medication in developing economies

Delaware , United States – August 5, 2021 /MarketersMedia/ —

Rise in demand for healthcare products at an affordable price point could spur the OTC drugs market growth. Increasing inclination towards self-medication in developed, as well as developing countries, will positively impact OTC drug business growth. Shift of manufacturers from RX to OTC drugs could favor new product launches over time. Furthermore, increasing demand for lifestyle-associated products including nutrient supplements will foster industry expansion. According to Global Market Insights, the market size was valued over USD 151.7 billion in 2020 and is expected to witness a 5.1% CAGR during the projected period.

Shedding light on some of the trends emerging in the OTC drugs market landscape:

1) Impact incurred due to the COVID-19 pandemic

The COVID-19 pandemic has impacted businesses globally in many ways. However, the healthcare sector is the one that has seen an exponential growth during this crisis. The requirement for multivitamins drugs and immunity boosters has spurred in recent times, vastly influencing the sales of some categories of OTC drugs.

During the pandemic, consumers were strongly focusing on being healthy and boosting their immunity by consuming various vitamin supplements, and products to keep common flu and cold at bay. People were seen to refrain from making visits to a doctor for common cold, flu treatment due to the threat of being affected by the coronavirus. These aspects has led to a considerable growth in the sales of OTC drugs to treat common disease conditions.

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OTC drugs help in saving the treatment cost related to visits to clinics. During the pandemic, people were treating themselves at home due to the strict lockdowns and rising number of coronavirus cases globally. Growing focus on living a healthy life and body fitness offers profitable demand for vitamins and mineral supplements in emerging provinces. The existence and availability of an extensive variety of OTC medicines and their collective adoption will arouse the market revenue worldwide.

2) Rise in cases of cold, cough, and flu

The cold, cough, and flu segment in the OTC drugs market witness huge demand in the year 2020. The segment growth is primarily accredited to the frequent manifestation of cough, cold, and flu illnesses among the population. As per a report, in 2020, OTC drug market for cold, cough, and flu segment constituted about USD 31.8 billion in revenue, and is projected to grow exponentially over the analysis period (2020 – 2026). The increasing number of cases of cold, cough, and seasonal flu owing to climatic changes and weather conditions will further propel product demand, thereby augmenting market share.

3) Asia Pacific to hold a major market share

The Asia Pacific OTC drugs market held more than 37.7% market share in 2020 and is anticipated to foresee robust growth during the forecast timeframe. According to the NCDC (National Centre for Disease Control), in 2019, India recorded total of 6,701 swine flu/seasonal influenza (H1N1) cases. Instances like these could spike the demand for OTC drugs to treat such diseases.

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Pet Care Market: Global Industry Analysis and Growth Outlook 2027

The pet care market size will expand lucratively during the forecast timeframe due to the increase in animal healthcare expenditure.

Delaware , United States – August 5, 2021 /MarketersMedia/ —

With pet adoption rate rising globally, the pet care market is projected to witness substantial growth in the coming years. Intensifying demand for premium, organic, and protein-rich pet food will be one of the major factors stimulating market growth. While growing expenditure on pet care by caretakers may further contribute to this growth. According to a report published by Global Market Insights, the industry share is expected to exceed USD 350.2 billion by 2027.

Highlighting some of the emerging trends in this industry:

1) Rising number of pet adoptions

The number of pet adoptions has increased significantly in recent years. People are adopting animals for companionship extensively worldwide. U.S., Brazil, and China are the top countries having the highest pet population across the world. Pet fair trades which include IIPTF (The India International Pet Trade Fair) are showcasing a wide range of pet care products, impacting the business growth positively.

Rising use of pets in movies and campaigns for ads have also prompted the trend of pet adoption among the general population. The recent trend has been shifted from pet owners to pet parents, where pets are treated as part of the family. All these factors may contribute to further propel the market growth in the estimated timeframe.

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2) Surging demand for pet care in Australia

The pet care market of Australia was valued at more than USD 13.3 billion in 2020 and is anticipated to expand at a 3.9% CAGR from 2021 to 2027. Growing elderly population, surge in the demand for premium pet food, and several people opting for pet adoption will result in regional market growth. According to a survey, over 5 million households in Australia own more than 25 million pets.

3) Developments by top players

Some of the industry players operating in the pet care market are PetSmart Inc., Nestle S.A., Colgate-Palmolive Company, Mars, and Petco Animal Supplies. These companies are concentrating on taking various strategic initiatives such as collaborations, mergers, acquisitions, new product development, partnerships, and product launches to consolidate their market position. For instance, in October 2020, Spectrum Brands Holdings, Inc. announced the acquisition of Armitage Pet Care Ltd. which is mainly into premium toys and pet treats. This acquisition helped the company to strengthen its market position and enhance its customer base.

4) Popularity of cats in Europe

According to the European Pet Food Industry Federation (FEDIAF) article, published in 2019, cats are one of the most popular pets in European households, with a population of 77.4 million in the European Union and 106.4 million in Europe and Russia.

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COVID-19 Detection Kits Market statistics, industry trends and growth dynamics to 2027

The COVID-19 detection kits market size will expand lucratively during the forecast timeline due to increasing technological advancements in virus detection.

Delaware , United States – August 5, 2021 /MarketersMedia/ —

As evident from the outbreak statistics worldwide, COVID-19 detection kits market has seen considerable momentum over the past year. The early detection of the virus has become paramount to avoid community spread and escalate prevalent medical conditions, especially among geriatric people. Although the demand for the detection kits may slow down in the coming years as the coronavirus pandemic subsides, the threat of the virus and need to tackle any new variant will sustain the market share to some extent.

People suffering from diseases like CVDs, hypertension and diabetes are said to be more susceptible to the effects of SARS-CoV-2. Elderly population witness the prevalence of these disorders and is fueling the adoption of COVID-19 detection kits for early diagnosis. Since the virus attacks the respiratory system within a short period of time, the need for quick and accurate detection is prominent and has driven the developments in the field.

Global COVID-19 detection kits market size is projected to cross $8 billion in valuation by 2027. Discussed below are some trends that could bolster the industry outlook over the coming years worldwide.

Major adoption of RT-PCR testing kits

RT-PCR assay tests are considered to be highly accurate and reliable, and their demand has only surged since the initial period of the coronavirus outbreak. Diagnostic centers and other smaller medical service providers created a significant demand for the products, as they received a large number of people aiming to get tested as soon as possible. Reportedly, RT-PCR assay kits held over 71% of global COVID-19 detection kits market share during 2020.

The segment also witnessed considerable innovations over the past year due to the gradual emergence of new variants. For example, Eurofins Technologies introduced the GSD NovaType III SARS-CoV-2 RT-PCR assay in June 2021, for the rapid detection of SARS-CoV-2 Variants of Concern, like those emerging across South Africa, India, Brazil and California, U.S.

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Diagnostic centers remain key consumption areas

Diagnostic centers are well equipped to test and identify symptoms among patients, with well-trained staff and dedicated laboratory equipment. Since these facilities only deal with diagnosis and not treatment of people, they become specialized in providing faster and more accurate results to a larger volume of patients across all age groups. COVID-19 detection kits market share from diagnostic centers had reached $6.6 billion in 2020, holding significant potential for the consumption of critical assay and immunoassay kits.

Asia Pacific as a prominent COVID-19 patient base

The novel coronavirus SARS-CoV-2 outbreak significantly hampered economies across the Asia Pacific, affecting manufacturing, hospitality and other key sectors. The detection of the virus became a priority among governments to ensure a faster recovery of the economy. As of 2021, China, India, Indonesia, Japan and South Korea were among the top affected countries during the pandemic. Not surprisingly, APAC region held nearly 34% of global industry share in 2020.

The major names in the COVID-19 detection kits market, who are producing detection kits for tackling the global crisis, include Thermo Fisher Scientific, Mylab Discovery Solutions, Abbott Laboratories, GenMark Diagnostics, Randox Laboratories and Shenzhen Bioeasy Biotechnology, among many others. These companies are providing massive amounts of nasal swabs, nasopharyngeal swabs and oropharyngeal to support rapid detection of the COVID-19 virus. Faster antigen tests have been developed by the companies to facilitate improved response to the pandemic.

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Genetic Testing Market: Top 4 vital trends influencing the industry growth curve through 2027

Genetic Testing Market size is expected to witness a lucrative growth in the coming years owing to the physician adoption of genetic tests into clinical care

Delaware , United States – August 5, 2021 /MarketersMedia/ —

The genetic testing market is predicted to hit USD 31.8 billion by the end of 2027. Genetic testing is used for diagnosing diseases like cancer, cardiovascular disease and other genetic diseases. The growing availability of various genetic tests across the world has bolstered the expansion of market. Also, technological advancements and increasing consumer interest in personal care medicines have boosted the industry.

However, the recent COVID-19 pandemic impacted the market trends. With growing number of cases, strict lockdown was imposed across the world. This caused reduction in number of test procedures, creating an impetus on the industry outlook.

Below mentioned are a few key trends influencing genetic testing market forecast:

Growing demand for direct-to-consumer (DTC) genetic tests

DTC tests offer access to genetic insights of customers without the inclusion of any healthcare provider or a health insurance firm in the process. These tests allow customers to analyze a genetic tendency to different diseases like cancer, Alzheimer’s, diabetes, etc. Also, some DTC tests are utilized for predicting potential allergies, risks of cardiovascular and other disorders and responses to medications.

In addition, DTC genetic testing is used for promoting knowledge related to genetic disease through the identification of ancestral origins and its exploration for undertaking precautionary healthcare measures.

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Increasing importance of carrier testing

Carrier testing helps in detecting defective genes in relation to a certain genetic disorder that a child might potentially carry. These tests are prominently performed before or during pregnancy to find whether a baby has any genetic disorders. These tests also provide life-lasting insights pertaining to the reproductive risks of a person along with analyzing the chances of whether the child might have any genetic ailments.

These factors are major contributors to the proliferation of the segment, considering it is predicted to register a growth rate of over 10.5% during the projected timeframe.

Soaring number of cardiovascular patients

Inherited heart conditions can be identified using genetic testing of an entire family tree. Being the leading cause of mortality worldwide, the demand for such genetic tests will surely surge. This can also help cardiovascular disease patients to gain timely treatment with early diagnosis of the disease which also increases their chance of survival. This, and other such factors will aid in the proliferation of the genetic testing segment.

Asia Pacific to emerge as a strong avenue
Rapid urbanization and industrialization have led to unhealthy food choices, sedentary lifestyles, lack of exercise among the population of Asia Pacific. This has resulted in the growing number of patients diagnosed with cardiovascular diseases, obesity, diabetes, etc. Therefore, to curb this number, healthcare organizations have adopted genetic testing to diagnose these diseases at earlier stages and prevent their future generations from having them.

In addition, technological advancements in genetic testing coupled with key regional players collaborating with global heavyweights has helped the segment to proliferate at a rapid pace in the region. This is one of the key reasons that Asia Pacific genetic testing market registered a growth rate of over 13.5% in 2020 and is projected to showcase excellent growth numbers over the coming years.

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IP Camera Market Key Technologies and Trends to 2025

IP Camera Market size is expected to witness high growth over the coming years impelled by the growing need for modern security solutions.

Delaware , United States – August 5, 2021 /MarketersMedia/ —

The Internet of Things has brought about a revolution in the security and surveillance landscape across the globe. IP camera market, in this context, stands as a major beneficiary of this change owing to the growing need for modern security solutions that help in improving road security and city surveillance, especially with the rise in the crime rate in various parts of the world.

Many government authorities are adopting surveillance solutions to ensure the safety of the streets. Nations like India and China are constantly working at expanding their CCTV network coverage to control the incidences of crime. For instance, in Shanghai’s 1.52- square kilometer Jiangsu Road, where nearly 80,000 residents live, there are over 600 cameras installed on 18 main roads and streets.

These cameras help in identifying traffic conditions, rubbish on the roads, and keeps a check on the crime rates. According to a study, the global IP Camera market size could cross USD 20 billion in terms of annual remuneration through 2025.

Expounded below are some of the factors expected to influence the industry size in the coming years.

Emergence of smart homes
The growing number of thefts and home burglaries is encouraged the use of residential security cameras, which is supporting the developments in the vast IP market. Growing adoption of smart home solutions due to the increase in disposable income among the people in both developed as well as developing countries as well as the improving standards of living of the people has propelled the need for technologically updated IP cameras.

Evidently, the growth prospects of IP camera market from residential application is huge. The surging establishment of large residential skyscrapers as well as the construction of row houses and bungalows that are equipped with the latest technologies will support the demand for IP Cameras, driven by applications like intelligence building control, remote monitoring, access control, and surveillance system.

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French smart devices manufacturer- Netatmo in the year 2017 launched a security camera equipped with a facial recognition feature that allows the camera to identify the members of the camera owner’s household and send customized updates to them on their arrival. This feature has gained popularity especially among parents who wish to know once the kids have arrived home safely.

High adoption of infrared cameras

Infrared cameras are used to record footage in low light conditions or at night. These are used in city surveillance and for traffic monitoring at night. The police authorities are using these advanced solutions to monitor the streets and to control the number of crimes and accidents. The camera manufacturers are developing technologically advanced solutions that are developed to meet the security requirements of the government.

The Singapore Police Department for instance has deployed high-tech network cameras to help them deal with crimes. In addition to the above, the government is aiming at installing more secured cameras to cover the multi-stored carparks along with 10,000 Housing and Development Board blocks across the nation.

Robust construction sector in Asia Pacific

The government authorities in developing regions across the Asia Pacific are undertaking measures to improve the regional security infrastructure, paving the demand for IP cameras. A rise in Foreign Direct Investment in the construction industry in countries like India, South Korea, China, Japan, and Singapore, noticing the rise in tourism and favorable working conditions has propelled the development of skyscrapers and large advanced buildings.

According to Invest India, the Indian construction industry was the second-largest recipient of FDI in 2017. The Government of India had also established plans of developing 100 smart cities across the nation. The aforementioned factors will positively influence IP camera market share in the coming years.

With the growing deployment of big data and IoT along with the subsequent large pool of data, the quest for obtaining actionable insights is likely to proliferate massively. Clearly, with the need to adopt smart trends in both the public and private sectors, the rapid advancements in the product have become noticeable.

IP camera manufacturing companies are working to improve the quality of the product for application across various sectors of the economy. Key players operating in the IP camera market include March Networks, Canon Inc., Tyco International, Dahua Technology, and Hangzhou Hikvision Digital Technology Co. Ltd., to name a few.

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Biotechnology Market share 2021: Top three crucial trends favoring industry demand 2027

Biotechnology Market size will experience high growth during the forecast period owing to presence of favourable government initiatives in developed countries

Delaware , United States – August 5, 2021 /MarketersMedia/ —

The biotechnology market is undergoing an expansion phase with the growing prevalence of chronic diseases such as diabetes, cardiovascular disorders, cancer across the globe. COVID-19 has also emerged as a fatal virus if not treated in time. As per the WHO, the number of COVID-19 cases globally was around 170 million as of May 2021. The unprecedented surge in coronavirus cases is creating tremendous demand for various biotechnological methods to develop novel medications and vaccines for effective treatment.

Modern biotechnological methods play a crucial role in the development and commercialization of accurate diagnoses, that further help in reducing the treatment cost of chronic diseases. The world is observing a rise in R&D expenditure for advancements in biotechnology and the demand for innovative gene therapies such as DNA sequencing and others for better treatment outcome.

According to Global Market Insights Inc., forecast, global market size is slated to cross over US$950 billion by 2027. Given below are some factors driving the applications of biological engineering across various industries.

Emerging bioagriculture applications

The biotechnology market share based on the applications is categorized into bioinformatics, bioagriculture, bioservices, bioindustries, and biopharmacy. The bioagriculture application segment held a market share of US$45 billion in 2020 and is anticipated to grow at 9.6% CAGR in the forthcoming years. The high adoption of Genetically Modified (GM) crops and a substantial rise in population along with growing demand for food are the major factors propelling developments in the segment.

Agriculture biotechnology or agritech offers numerous benefits in the production of crops. The utilization of gene editing helps in producing a highly resilient variety of crops with increased life and yield. For example, gene editing in corn and wheat increases their longevity in erratic climatic conditions and yields even in fewer resources. Such significant benefits of agritech in agriculture are likely to foster the demand for bioagriculture products.

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Requirement of nanobiotechnology in drug discovery

The nanobiotechnology segment held a market share of more than US$68 billion in the biotechnology market in 2020. Its applications in the biomedical industry include diagnostic imaging, genome sequencing, proteomics, nanotechnology-based drug delivery systems, and fabrication of microfluidic nano-devices for higher throughput during drug discovery assays.

For example, the Massachusetts Institute of Technology (MIT) and Harvard scientists have jointly developed a nano-machine to target and eliminate cancer cells by connecting RNA strands to nanoparticles that comprising chemotherapy drugs. Increasing applications of nanobiotechnology in novel drug discoveries should provide ample opportunities to industry players.

Flourishing biotech startups in Brazil

Brazil industry is slated to grow at 9.3% CAGR up to 2027. Increasing government initiatives to provide favorable business grounds for biotech startups is likely to drive industry expansion in the region. For instance, the Brazilian government under the Science and Technology Action Policy has allotted financial support of US$20 billion to uplift innovative technology startups. This initiative is expected to encourage industry players to expand their business to Brazil and strengthen their presence in Latin America.

Thermo Fisher Scientific, Bio-Rad Laboratories, Amgen, F. Hoffmann-La Roche, Danaher, Merck, Illumina, Qiagen, PerkinElmer, Agilent Technologies, and Abbott Laboratories, among others are the leading companies in the global biotechnology market. These notable firms are emphasizing on strategies including acquisitions and new product development to consolidate their market position. For example, Agilent Technologies in March 2021, announced its acquisition of Resolution Bioscience. This initiative will help Agilent to enter into the precision medicine business and enhance its capabilities in oncology diagnostics which are based on next-generation sequencing (NGS).

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Contract Research Organization Market outlook 2021 | Worldwide industry growth statistics, trends and forecasts 2027

Contract Research Organization (CRO) Market size is set to register lucrative gains during the forecast timeframe led by the growing number of clinical trials in emerging countries.

Delaware , United States – August 5, 2021 /MarketersMedia/ —

Robust investments in R&D by biopharma and pharmaceutical companies for the discovery of novel drugs in various phases will support the significant growth of the global contract research organization market in the coming years. According to a survey by PhRMA organization, the member companies invested USD 83 billion in 2019 for the development of new 260 vaccines, including the COVID-19. With the high prevalence of infectious diseases, the globally increasing need for vaccines and drugs outsourcing clinical research organizations for clinical trials is becoming a popular trend in the pharmaceutical and biopharmaceutical industry.

According to a study by Global Market Insights Inc. the global market size is all set to surpass USD 74.2 billion by 2027.

To solidify their market presence and sustain competition, industry leaders are focusing on various strategies like acquisitions, business expansion, and novel service launches. Some of the prominent contract research organization market companies include Laboratory Corporation of America Holdings, IQVIA, Pharmaceutical Product Development & PRA Health Science, PAREXEL International and Syneos Health.

The following are some of the key trends that will influence the contract research organization market over the coming timeframe.

Increased revenue from laboratories

The demand for laboratory services, comprising the analytical research services and bioanalytical testing services, is anticipated to expected to grow at a 7% annual rate through 2027. The bioanalytical testing services registered close to USD 2.5 billion in 2020 as these assays as widely used to regulate the absorption as well as obtainability of the active ingredient post the administration. The specimens are also analyzed with the help of pre-clinical and clinical trials for the measurement of metabolite and drug absorptions within the complex biological media. Furthermore, bioanalytical services are witnessing higher penetration to control the quantity of drugs or the presence of induced antibodies in the biological samples.

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Rise in hepatology and gastroenterology incidences

Increased cases of chronic hepatology and gastroenterology diseases such as cirrhosis will accelerate the preference for CROs. The rise in the number of R&D activities has led to the increase in clinical trial development by the leading industry players. Owing to this, the gastroenterology & hepatology therapeutic segment is anticipated to record USD 3 billion in revenue by 2027.

Scope across academic institutes

The contract research organization market share from academic institutes could observe a CAGR of 6.2% in the next few years. This can be attributed to the rise in the instances of outsourcing research activities to academic institutes. There is a noticeable jump in the number of rapidly developing research practices. Besides, academic medical institutes work with Institutional Review Boards (IRB) to supervise the moral manner of medical research as well as to render large medical participant’s pool to sites and bigger urban areas.

Expanding patient population in the Asia Pacific region

In APAC countries like India, the COVID-19 cases are touching the sky. So far, more than 21.1 million COVID cases have been registered from India alone. The dramatic rise of COVID cases in the APAC region is attracting CROs to conduct trials to fast-track procedures and take advantage of the large patient pool. Along with this, the increasing government funding for novel vaccines & medicine to control severe diseases is another major factor supporting the regional growth. Taking note of these factors, the Asia Pacific contract research organization market will expand at a robust CAGR of 9.1 % in the next few years.

Furthermore, there have been some major changes and up-gradation in biotechnology firms in the APAC region, which can drive regional business expansion. For example, to assist Chinese biotech firms and Western pharmaceutical companies managing Chinese research studies, PPD established a new and separate laboratory in Suzhou, China.

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Preterm Birth Prevention and Management Market to 2021, Future Outlook, COVID-19 Impact Analysis, Forecast 2019-2029

2019 Analysis and Review of Preterm Birth Prevention and Management Market by Therapy – Progesterone Therapy, Corticosteroid Therapy, Tocolytics Therapy, Antihypertensive Therapy, Magnesium Sulfate Therapy, Heparin Prophylaxis Therapy, Low-Dose Aspirin Therapy, and Antibiotics Therapy for 2019 – 2029

Dubai, United Arab Emirates – August 4, 2021 /MarketersMedia/ —

The global preterm birth prevention and management market will expand with over 9% CAGR during the forecast period (2019 – 2029). According to a new study by Future Market Insights (FMI), the market for preterm birth prevention and management is largely influenced by increasing numbers of generic versions of blockbuster drugs in the global market, supported by favorable government policy.

“The demand from countries with high preterm birth rates, development of new drugs, and loss of exclusivity in hydroxyprogesterone are factors which are projected to offer new growth opportunities,” reveals the FMI report.

Key Research Findings

Progesterone therapy will remain a highly preferred medication option in the preterm birth prevention and management market through the forecast period.
Hospital pharmacies to witness healthy demand growth as a distribution channel for preterm birth prevention and management drugs.
Sales of hydroxyprogesterone are also gaining traction over alternatives such as labetalol and nifedipine, owing to higher efficacy.
North America and South Asia will remain major regional markets through the forecast period.

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Key Growth Drivers

Rising focus on the improving standards of healthcare and the popularity of targeted therapies play a major role in the growth of market.
Strong rise in the demand for preterm birth prevention and management in developing economies contributes market expansion.
Regional and international research organizations are taking up initiatives towards advocacy and innovation of such treatments, contributing to market growth.
The high number of preterm babies across the global, and awareness programs run by bodies such as the WHO will drive adoption.

Key Impediment to Market Growth

Strict regulations associated with the development and approval of drugs for preterm birth treatments remains a key challenge to manufacturers.

Competition Structure Analysis – Preterm Birth Prevention and Management Market

The competition landscape of the preterm birth prevention and management market remains moderately fragmented. Key producers are also pushing for organic and inorganic strategies for business expansion, through collaborations, mergers, and acquisitions of local players in developing economies. Manufacturers are also seeking to leverage brand identity through product associated USPs.

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Some of the key players in the preterm birth prevention and management market include, but are not limited to Ferring Pharmaceuticals, Teva Pharmaceutical Industries Ltd., AMAG Pharmaceuticals, Pfizer Inc., Saniofi SA., and Novartis AG.

Explore Future Market Insights’ detailed coverage on,

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Car Care Products Market 2021-2027; Top 4 trends transforming industry outlook

Car Care Products Market is poised to grow with a lucrative CAGR from 2021 to 2027 impelled by an increase in the introduction of eco-friendly and no rinse products by prominent industry participants.

Selbyville, Delaware, United States – August 4, 2021 /MarketersMedia/ —

Car Care Products Market revenue is projected to surpass USD 13 billion by 2027, according to Global Market Insights Inc. report. The global industry is driven by an increase in the introduction of eco-friendly and no rinse products by prominent industry participants. These car care product brands are also manufacturing multi-purpose products that possess fast acting characteristics, long-lasting benefits, as well as protection & repellant properties.

To cite an instance, Meguiar’s was in news in February 2021 for the expansion of its suite of car detailing products with a virtual debut at the 2020 SEMA trade show. The new products comprise a wash liquid with the firm’s Hybrid Ceramic SiO2 additive, which will enhance water beading and boost surface tension.

In addition, a number of partnership and collaborative initiatives by key car care products manufacturers are expected to propel industry demand through 2027. For instance, in October 2020, National Carwash Solutions, a provider of car cleaning kits, wash systems, as well as maintenance services, announced a partnership with Cleaning Systems Inc. (CSI), which is the manufacturer of Lustra Professional Car Care Products.

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Some major trends boosting car care products industry outlook comprise:

Increasing product demand in North America
Several car owners in North America have started opting for car wash centers, considering lesser convenience and service time. These centers are making use of several technologies, comprising car wash apps and online platforms, for attracting a wide customer base.

North America car care products industry is touted to hold more than 20 percent of the total market revenue by 2027. This growth is attributed to favorable trends related to the car wash industry.

Rising inclination towards the maintenance of vehicles
Various contaminants are responsible for putting the paint work of a car at risk. It is likely that, in some instances, these areas become prone to both corrosion and discoloration. Regular exterior cleaning keeps the car free of blemish & corrosion and helps in preventing the buildup of these contaminants. Proper stain removing, vacuuming, and cleaning measures help in keeping instrument panels, upholstery items, and carpeting in appropriate condition.

This is encouraging individuals to focus towards the maintenance of vehicles, further stimulating car care products market share through the forthcoming years.

Surging popularity of online platforms
The online segment in the car care products market will hold over 25 percent of the total industry share by 2027. This is attributed to the establishment of online platforms for the effective distribution and sales of car care products by major market participants.

These manufacturers are also entering into partnerships with major online behemoths like Flipkart, Amazon, etc., for the expansion of their distribution network.

Escalating deployment of microfiber car care products
Microfiber car care products are available in numerous forms comprising pads, wash mitts, applicators, and towels. Owing to their versatile nature, these products are utilized for paint, clean wheels, glass, leather, etc.

Microfiber products are included in the other car care products segment, which also comprises anti-rust spray, odor eliminator spray, etc. The segment is expected to exceed a valuation of more than USD 2.4 billion by 2027.

In a nutshell, favorable trends associated with the automotive sector will augment car care products market share through the estimated period.

About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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