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Paint Protection Film Market Growth & Trends

The global paint protection film market size is expected to reach USD 739.40 million by 2030, registering a CAGR of 5.9% during the forecast period, according to a new report by Grand View Research, Inc. The major factors for the growth of the market are increasing consumer awareness regarding automobile paint protection and high demand from the automotive industry.

Considering the trend from the recent past, emerging economies like India, Malaysia, Thailand, and Vietnam along with a few Central American countries such as Brazil and Argentina have been the crux of global automotive industry growth. The growing population coupled with industrialization has resulted in high income levels and rising standard of living, thereby increasing the demand for personal vehicles.

Paint protection films find their origin in military transport and defense applications and continue their use in these industries to date. Consumers believed in spending on repainting the vehicle instead of making use of paint protection films in the past. Over the last few years, this trend has been changing with the retailers and manufacturers of paint protection films observing considerable growth in sales. This is attributed to the added customer awareness through marketing and expansion into the OEM market.

The global automotive industry has been witnessing booming growth and profitability with annual sales reaching pre-pandemic levels in some regions. Over the recent past, there has been a positive outlook in automotive sector across various regions, from developed markets such as the U.S. to developing markets such as India.

The global automotive industry is growing at a rapid pace on account of the accelerating technological transformations including no petroleum-based fuel or hybrid vehicles, autonomous driving, and new mobility services. The industry is expected to witness significant growth owing to the increasing sales and demand in the emerging economies of India, China, and Brazil.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market

Paint Protection Film Market Report Highlights

• Based on material, the thermoplastic polyurethane (TPU) segment dominated the market with more than 82.8% share in 2023. Paint protection films made of thermoplastic polyurethane are substantially more resistant to fading and discoloration. These TPU films' adhesives have also been changed to make them simpler for smooth removal. Together, these two elements do a considerably better job of protecting the original car paint than the paint protection films of the past
• Europe dominated the market in 2023. Europe has a robust automotive sector. According to the European Commission, automotive sector in Europe represents over 7% of the European Union GDP and is linked with upstream and downstream industries such as textiles, chemicals, steel & mobility, repair, and ICT. Automotive sector in Europe consists of leading automotive manufacturers such as Volkswagen AG, Stellantis NV, Renault Group, and Mercedes-Benz Group AG. The region also has a presence of assembly lines set up by foreign automobile manufacturers such as Hyundai Motor Company, TOYOTA MOTOR CORPORATION, and Kia
• In September 2022, 3M launched the Scotchgard Paint Protection Film (PPF) Pro Series 200 Gloss. The new Scotchgard PPF Pro Series 200 Gloss offers excellent clarity, hydrophobic features, and high gloss. Moreover, the good flexibility of the film allows an easy repairable installation experience, which can help 3M strengthen its market position in the market.

Regional Insights

Based on region, Europe held the largest revenue share of 31.6% of the market in 2023. Europe has a robust automotive sector. According to the European Commission, the automotive sector in Europe represents more than 7% share of the European Union GDP and is linked with upstream and downstream industries such as textiles, chemicals, steel & mobility, repair, and ICT.

The automotive sector in Europe consists of leading manufacturers such as Volkswagen AG, Stellantis NV, Renault Group, and Mercedes-Benz Group AG. The region also has assembly lines set up by foreign automobile manufacturers such as Hyundai Motor Company, TOYOTA MOTOR CORPORATION, and Kia. Furthermore, the region has a significant presence of many SMEs specialized in manufacturing automobile components in the EU member countries such as Italy, Spain, France, the Czech Republic, and Hungary, which is expected to play a pivotal role in driving the automotive industry in Europe.

North America is anticipated to grow at a CAGR of 5.9% over the forecast period. Several states in the U.S., including California, New Jersey, Washington, and Louisiana, offer tax credits, exemptions, and rebates for promoting the procurement of electric vehicles (EVs). New Jersey and Washington exempt the sales and use taxes on electric vehicles (EVs), while California offers rebates on the purchase and usage of plug-in hybrid electric vehicles (PHEVs) and other light-duty zero-emission vehicles.

Paint Protection Film Market Segmentation

Grand View Research has segmented the global paint protection film market report based on material, end-use, and region:

Paint Protection Film Material Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2018 - 2030)

• Thermoplastic Polyurethane (TPU)
• Polyvinyl Chloride (PVC)
• Others

Paint Protection Film End-use Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2018 - 2030)

• Automotive & Transportation
• Electrical & Electronics
• Aerospace & Defence
• Others

Paint Protection Film Regional Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America (MEA)
• Middle East and Africa (MEA)

List of Key Players in the Paint Protection Film Market

• 3M
• XPEL Inc.
• Schweitzer-Mauduit International, Inc.
• Eastman Chemical Company
• Avery Dennison Corporation
• Saint-Gobain S.A.
• RENOLIT SE
• Ziebart International Corporation
• Hexis S.A.S
• Garware Hi-Tech Films Ltd.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market

AI In Healthcare Market Growth & Trends

The global AI in healthcare market size is expected to reach USD 187.7 billion by 2030, registering a CAGR of 38.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. AI acts as a transformative force in healthcare systems, shifting them from reactive to proactive, predictive, and preventive models. Clinical decision support systems, fueled by artificial intelligence (AI), empower physicians and healthcare professionals with predictive and real-time analytics, enhancing decision-making and elevating care quality, ultimately resulting in improved patient outcomes. 

Furthermore, AI facilitates a comprehensive understanding of disease biology and patient pathology, advancing precision medicine and precision public health initiatives.

Furthermore, the growing field of life sciences R&D opens numerous opportunities for market growth, with AI's ability to process vast volumes of multidimensional data playing a crucial role. This capability accelerates the generation of novel hypotheses, expedites drug discovery and repurposing processes, and significantly reduces costs and time to market through the utilization of in silico methods. In essence, AI drives innovation and efficiency across the healthcare sector, revolutionizing healthcare delivery worldwide. AI-based technologies are implemented in various healthcare domains, including virtual assistants, robot-assisted surgeries, claims management, cybersecurity, and patient management.

AI algorithms are trained using patient health datasets to optimize disease diagnosis and early detection, enabling the initiation of timely treatment regimens. Supportive government initiatives, funding, a growing number of investments from private investors and venture capitalists, and the emergence of AI-specialized startups globally are key drivers of market growth. For instance, in February 2024, Fabric, a health tech company, raised USD 60 million in series A funding to expand its conversational AI-powered healthcare platform. In September 2023, Amazon announced a USD 4 billion investment in AI in partnership with Anthropic, representing a significant strategic move toward advancing the tech giant's healthcare aspirations.

The emergence of several startups in the AI healthcare market is another significant driver of industry growth. Their presence stimulates investment, encourages technological advancements, and expands the scope of AI applications in healthcare. The collective efforts of these startups fuel momentum in the AI healthcare market, driving greater innovation, efficiency, and effectiveness in delivering healthcare solutions. Notable startup companies in this space include Activate Health, Kahun, Likeminded, and Pharmarun, among others.

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AI In Healthcare Market Report Highlights

• The software solutions component segment dominated the global market in 2023 with the largest revenue share of 46.3%. This large share is attributed to the widespread adoption of AI-based software solutions among care providers, payers, and patients
• The robot-assisted surgery application segment dominated the market in 2023 with the largest revenue share and it is anticipated to witness the fastest CAGR from 2024 to 2030
• A rise in the volume of robot-assisted surgeries and increased investments in the development of new AI platforms are a few key factors supporting the penetration of AI in robot-assisted surgeries
• The machine learning (ML) technology segment held the largest share in 2023 as a result of advancements in ML algorithms across various applications. This trend is expected to continue due to the increasing demand for ML technologies
• The healthcare payers end-use segment is anticipated to experience the fastest CAGR from 2024 to 2030
• In 2023, North America dominated the industry and held the largest share of over 45% owing to advancements in healthcare IT infrastructure, readiness to adopt advanced technologies, presence of several key players, growing geriatric population, and rising prevalence of chronic diseases
• In Asia Pacific, the market is anticipated to witness significant growth over the forecast period

AI In Healthcare Market Segmentation

Grand View Research, Inc. has segmented the global AI in healthcare market on the basis of component, application, technology, end-use, and region:

Artificial Intelligence (AI) In Healthcare Component Outlook (Revenue, USD Million, 2018 - 2030)

• Hardware
• Software Solutions
• Services

Artificial Intelligence (AI) In Healthcare Application Outlook (Revenue, USD Million, 2018 - 2030)

• Robot-assisted Surgery
• Virtual Assistants
• Administrative Workflow Assistants
• Connected Medical Devices
• Medical Imaging & Diagnostics
• Clinical Trials
• Fraud Detection
• Cybersecurity
• Dosage Error Reduction
• Precision Medicine
• Drug Discovery & Development
• Lifestyle Management & Remote Patient Monitoring
• Wearables
• Others (Patient Engagement, etc.)

Artificial Intelligence (AI) In Healthcare Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Machine Learning
• Natural Language Processing
• Context-aware Computing
• Computer Vision

Artificial Intelligence (AI) In Healthcare End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Healthcare Providers (Hospitals, Outpatient Facilities, and Others)
• Healthcare Payers
• Healthcare Companies (Pharmaceutical, Biotechnology, Medical Devices)
• Patients
• Others

Artificial Intelligence (AI) In Healthcare Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

List of Key Players of Artificial Intelligence (AI) In Healthcare Market

• Microsoft
• IBM
• Google
• NVIDIA Corporation
• Intel Corporation
• Itrex Group
• GE Healthcare
• Medtronic
• Oracle
• Medidata
• Merck
• IQVIA

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-healthcare-market  

Food Packaging Market Growth & Trends

The global food packaging market size is expected to reach USD 562.3 billion by 2030, expanding at 5.7% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Increased diverse eating habits and lifestyle changes have driven the demand for convenience food products which is expected to bolster the growth of the global food packaging industry.

The food packaging industry exhibits rapid growth for portable and single-serve food packs. Rising global per capita income is expected to increase the purchasing power of buyers further driving the demand for packaged foods products. Although real wages witnessed a decline in 2022, according to the Observatory of Economic Complexity (OECD), by the end of 2023, real wages are projected to stop declining. This is attributed to the extensive rollout of support initiatives by governments across the globe to cushion the effects of food prices and high energy on households. This is expected to increase the consumer spending capacity thereby driving the demand for packaged food & beverages.

The high volatility observed in the prices of raw materials is expected to restrain the food packaging industry's growth. However, the introduction of sustainable packing materials by major food packaging manufacturers, coupled with increasing awareness and notable consumption volume by buyers, is expected to propel the food packaging industry over the forecast period.

Growing concerns regarding food safety and contamination are predicted to support the demand for effective packaging solutions. In addition, sales of packaged foodstuff are anticipated to propel due to the increasing number of retail food chains opened by big food brands, consequently driving demand for packaging material. The surge in demand for food delivery services such as Uber Eats, Zomato, DoorDash, and Grubhub among others is also expected to have a positive impact on the food packaging industry.

The growing food sector has attracted food packaging manufacturers to invest in increasing their production capacities. For instance, in April 2023, UAE-based Hotpack Global announced its intent to build a specialized food packaging project in Saudi Arabia. The project is expected to be valued at USD 266.0 million and will be developed jointly with the Saudi Ministry of Industry.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/food-packaging-market

Food Packaging Market Report Highlights

• Flexible packaging is expected to register the highest CAGR of 6.3% in terms of revenue from 2023 to 2030, owing to its cost-effectiveness, high performance, and constant innovations undertaken by major manufacturers
• Paper & paper-based packaging is estimated to be the fastest growing segment, exhibiting a CAGR of 6.4% from 2023 to 2030, owing to its low cost and sustainability
• The bakery and confectionary segment is anticipated to be the largest application, which recorded a market value of USD 100.6 billion in 2022, due to growing demand for cakes, candies, and frozen ready-to-eat bakery products
• Asia Pacific is expected to dominate the food packaging industry in 2022 and is expected to continue its dominance on account of a growing population, increasing urbanization, and rising disposable income of consumers
• The food packaging industry is highly fragmented and is characterized by the presence of a large number of players. Key players comprise Amcor Plc., Ball Corporation, Berry Plastic Group, and DS Smith PLC
• In May 2023, Amcor plc inked a definitive agreement to acquire New Zealand-based Moda Systems. This acquisition is expected to help Amcor expand its existing film portfolio and offer an end-to-end packaging solution incorporating even the sales of packaging machines

Food Packaging Market Segmentation

Grand View Research has segmented the global food packaging market based on type, material, application, and region:

Food Packaging Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Rigid
• Semi-rigid
• Flexible

Food Packaging Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Paper & Paper-based Material
• Plastics
• Metal
• Glass
• Others

Food Packaging Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Bakery & Confectionary
• Dairy Products
• Fruits & Vegetables
• Meat, Poultry & Seafood
• Sauces & Dressings
• Others

Food Packaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

List of Key Players in the Food Packaging Market

• Amcor plc
• Sealed Air
• Sonoco Products Company
• Berry Global, Inc.
• WestRock Company
• Mondi
• Genpak LLC
• Pactiv LLC
• Chantler Packages
• WINPAK LTD.
• Alpha Packaging
• BE Packaging
• Cheer Pack North America
• Evanesce Packaging Solutions Inc.
• Pacmoore Products Inc.
• Innovative Fiber
• Emmerson Packaging
• PakTech
• Tradepak
• ProAmpac

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/food-packaging-market  

Polyethylene Market Growth & Trends

The global polyethylene market size is anticipated to reach USD 213.77 billion by 2030, growing at a CAGR of 5.0% during the forecast period, according to a new report by Grand View Research, Inc. The market growth is driven by the increasing consumption of plastics in the automotive, medical, construction, and electrical & electronics industries. Moreover, the increasing demand for lightweight materials in the automotive industry contributes to industry growth. Polyethylene (PE)  is commonly used for manufacturing lightweight plastics, films, and foams used in vehicles.

The emphasis of the automotive industry on enhancing the fuel efficiency of vehicles by reducing their weight leads to the adoption of PE in this industry. As recycling technologies advance, the PE market adapts to integrate more recycled content into its products, contributing to a more circular and resource-efficient approach. Government policies and regulations supporting sustainable practices further bolster the demand for recycled PE. The circular economy encourages the collection, separation, and reprocessing of used PE products, diverting them from landfills.

One of the major challenges faced by the market includes fluctuations in raw material prices. The global crude oil prices have witnessed severe fluctuations in the past few years. Social disruption in key crude oil-producing regions, such as Venezuela, Libya, Iran, Nigeria, and Iraq has hampered crude oil supply, generating inelasticity in the supply-demand balance. These factors are short-lived in the market causing immediate fall and rise in prices, thus impacting market growth.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/polyethylene-pe-market

Key Polyethylene Company Insights

Key companies are adopting several organic and inorganic growth strategies, such as new product development, mergers & acquisitions, and joint ventures, to maintain and expand their market share.

• In November 2023, Dow announced an investment in the Fort Saskatchewan Path2Zero project in Alberta, Canada, with an investment of USD 6.5 billion, as part of the company's goal to achieve carbon neutrality by 2050. The project involves the construction of a new ethylene plant and expanding polyethylene capacity by 2 million metric tons annually. The construction is scheduled to commence in 2024, and the increased capacity is set to be implemented in stages, with the initial phase anticipated to begin in 2027
• In October 2023, Borealis AG and TotalEnergies SE announced plans to construct a USD 1.4 billion Borstar PE unit within their Baystar joint venture. This PE unit, boasting a capacity of 625,000 metric tons annually, marks a significant increase, doubling the current production capabilities at the Baystar site including two existing PE production units
• In August 2023, Dow partnered with Mengniu, a dairy company, to launch a PE yogurt pouch, specifically designed for recyclability. This joint effort signifies a significant step for both companies in reinforcing their dedication to promoting a circular economy in China. The partnership with Mengniu enables both brands to take the lead in pioneering recyclable all-PE dairy packaging in the Chinese market.

Polyethylene Market Report Highlights

• High-density Polyethylene (HDPE) dominated the product segment with more than 49.0% share in 2023. The demand for efficient and long-lasting solutions in water infrastructure and agriculture enhances the growth prospects of the HDPE segment
• The Linear Low-density Polyethylene (LLDPE) type segment is expected to grow at the fastest CAGR of 5.5% over the forecast period
• The bottles & containers application segment held a substantial market share in 2023. The sustainability trend in the packaging industry contributes to the growth of this segment
• The use of recyclable materials is growing due to environmental concerns. The recyclability and compatibility of PE with recycling processes are essential for eco-conscious industries and consumers
• Asia Pacific dominated the global market in 2023. The growing manufacturing industry in Asia Pacific is anticipated to drive the demand for PE
• In October 2023, Borealis AG and TotalEnergies SE announced plans to construct a USD 1.4 billion Borstar PE unit within their Baystar joint venture. This PE unit, boasting a capacity of 625,000 metric tons annually, marks a significant increase, doubling the current production capabilities at the Baystar site including two existing PE production units

Regional Insights

The North America Polyethylene Market accounted for a significant revenue share of 19.2% in 2023. The shale gas boom in North America has transformed the regional PE market. The abundant and easy availability of cost-effective feedstocks derived from shale gas, particularly ethane, has given PE producers, based in North America, a significant competitive advantage.

U.S. Polyethylene Market Trends

The Polyethylene Market in the U.S.is expected to grow over the forecast period. The U.S. energy landscape, specifically the abundant availability of shale gas, is a critical driver for the PE market growth in the country. Shale gas serves as a primary feedstock for ethylene production, which is a key building block for PE. The accessibility and the cost competitiveness of shale gas contribute to the expansion of ethylene production capacities in the U.S., thereby supporting market growth.

Asia Pacific Polyethylene Market Trends

The Asia Pacific Polyethylene Market dominated the global industry in 2023 with a share of over 50.3%. Asia Pacific is a diverse market for PE owing to the growing automotive and construction industries in the region that are key consumers of this material. The growing manufacturing industry in Asia Pacific is anticipated to drive the requirement for PE.

The Polyethylene Market in China held a significant share in the Asia Pacific region. The market is anticipated to register a CAGR of 5.3% over the forecast period. Government initiatives for infrastructure development projects are driving market growth in China. The ambitious infrastructure development plans of the country, including the Belt and Road Initiative, stimulate the demand for PE in construction and related activities.

Polyethylene Market Segmentation

Grand View Research has segmented the global polyethylene market on the basis of product, application, end-use, and region:

PE Product Outlook (Volume, Kilotons, Revenue; USD Million, 2018 - 2030)

• Low-density Polyethylene (LDPE)
• High-density Polyethylene (HDPE)
• Linear Low-density Polyethylene (LLDPE)

PE Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Bottles & Containers
• Films & Sheets
• Bags & Sacks
• Pipes & Fittings
• Other Applications

PE End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Packaging
• Construction
• Automotive
• Agriculture
• Consumer Electronics
• Other End-uses

PE Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

List of Key Players in the Polyethylene Market

• BASF SE
• Borealis AG
• Braskem
• Dow
• Exxon Mobil Corporation
• Formosa Plastics
• INEOS Group
• LG Chem
• LyondellBasell Industries Holdings B.V.
• Mitsubishi Chemical Corporation
• MOL Group
• SABIC
• China Petrochemical Corporation (Sinopec) 

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/polyethylene-pe-market

Wearable Medical Devices Market Growth & Trends

The global wearable medical devices market size is anticipated to reach USD 168.29 billion by 2030 and is anticipated to expand at a CAGR of 25.66% during the forecast period, according to a new report by Grand View Research, Inc. The market is experiencing growth driven by an increasing demand for high-tech products and the growing trend of continuous health monitoring.

The rising obesity rate and a heightened awareness of physical fitness, is motivating individuals to engage in workouts and adopt fitness-related activities. Wearable devices like smartwatches and smart bands play a crucial role in monitoring various fitness parameters, including calories burned, step count, heart rate, and distance covered. Companies such as Google, Fitbit, Apple, and Nike are actively launching innovative products, particularly focusing on smartwatches and wristbands, contributing to a surge in product availability.

The COVID-19 pandemic has positively impacted the market, driven by the increased demand for telemedicine. WHO guidelines promoting social distancing and discouraging public gatherings have led to a preference for telemedicine among physicians, enabling remote patient treatment without the risk of virus transmission. The growth of telemedicine, coupled with the integration of artificial intelligence (AI) into its systems, has further propelled the expansion of the wearable medical device market.

The escalating prevalence of chronic diseases and rising mortality rates are causing major concern, prompting healthcare providers to focus on personalized care, particularly through continuous remote patient monitoring. Wearable medical devices, capable of 24-hour wear without disrupting daily routines, are gaining traction due to their various advantages. Consequently, the demand for these devices is expected to surge over the forecast period.

Wearable medical devices are playing a pivotal role in the cardiovascular device market. These innovative technologies, ranging from smartwatches to continuous monitoring devices, offer new avenues for real-time health tracking, early detection of cardiovascular issues, and personalized patient care. The integration of wearable devices in cardiovascular healthcare reflects a transformative shift towards preventive and proactive healthcare solutions, ultimately enhancing patient outcomes and disease management.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market

Regional Insights

North America accounted for the largest revenue share in 2023, owing to the growing prevalence of cardiovascular disorders, diabetes, and cancer within this region. High adoption of remote patient monitoring and home care devices for regular, continuous, and long-term monitoring of patients and reducing the frequency of hospital visits are anticipated to fuel market growth over the forecast period.

The market is expected to witness exponential growth in Asia Pacific over the forecast period. Significant factors boosting market growth are favorable government initiatives for using such wearable medical instruments, increasing geriatric population base, and increasing healthcare expenditure in this region. Japan held the largest share of the remote patient monitoring devices market in the Asia Pacific region in 2023. It is expected to maintain its dominance over the forecast period due to rapid technological advancements and the growing requirement for home care devices and round-the-clock monitoring. Japanese firms place a high value on health, skincare, and all human consumables.

Wearable Medical Devices Company Insights

By introducing groundbreaking technologies, key wearable medical device companies are significantly impacting the market. Innovations such as advanced wearable medical device sensors, continuous monitoring capabilities, and integration with artificial intelligence are reshaping the landscape. Industry leaders leverage these technologies to enhance the accuracy and range of health metrics that wearable devices can track. Moreover, the incorporation of data analytics and cloud connectivity enables seamless data sharing, improving the overall healthcare ecosystem. This technological evolution propels the market's growth. It contributes to improved patient outcomes, personalized healthcare, and the transformation of wearable medical devices into indispensable tools for consumers and healthcare providers.

Wearable Medical Devices Market Report Highlights

• The diagnostic devices segment emerged as the market leader in 2023, driven by rising disposable income, increased awareness, and higher healthcare spending
• Straps, clips, bracelets, and watches constitute the largest and fastest-growing segment of the market
• Home healthcare secured a substantial share of 53.6% in 2023, propelled by a growing geriatric population contributing to higher incidence rates of target diseases
• North America held the largest revenue share in 2023, primarily due to the expanding home care applications and remote patient monitoring for regular, continuous, and long-term patient monitoring
• The Asia-Pacific region is poised to experience the fastest growth over the forecast period, attributed to increasing awareness levels, rising disposable income, a large population base, and an increasing incidence rate of chronic conditions

Wearable Medical Devices Market Segmentation

Grand View Research has segmented the global wearable medical device market based on product, site, application, distribution channel, grade type, and region:

Wearable Medical Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Devices
• Therapeutic Devices

Wearable Medical Devices Site Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld
• Headband
• Strap/Clip/Bracelet
• Shoe Sensors
• Others

Wearable Medical Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Sports & Fitness
• Remote Patient Monitoring
• Home Healthcare

Wearable Medical Devices Grade Type Outlook (Revenue, USD Million, 2018 - 2030)

• Consumer-Grade Wearable Medical Devices
• Clinical Wearable Medical Devices

Wearable Medical Devices Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmacies
• Online Channel
• Hypermarkets

Wearable Medical Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Key Players in Wearable Medical Devices Market

• Koninklijke Philips N.V.
• Fitbit
• Basis Science
• Garmin
• Covidien (Medtronic)
• Omron Corp.
• Withings
• Vital Connect
• Polar Electro
• Everist Genomics
• Intelesens Ltd.
• Sotera Wireless
• Apple

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market

Insulin Delivery Devices Market Growth & Trends

The global insulin delivery devices market size was estimated at USD 28.06 billion in 2030 and is expected to grow at a CAGR of 7.89% from 2024 to 2030. Obesity, sedentary lifestyles, and unhealthy food habits, primarily in the young population, lead to the occurrence of diabetes. In addition, the growing diabetic geriatric population is another factor supporting the growth of this vertical. According to the United Nations, Department of Economic and Social Affairs, around 901 million individuals were aged 60 or over in 2015 and this number is projected to increase to 1.4 billion by 2030. Thus, the enlarging elderly population is expected to boost the demand for insulin delivery devices.

Technological advancements in diabetes management have significantly transformed insulin delivery methods, evolving from traditional injections to more advanced, minimally invasive techniques. Initially, insulin administration faced challenges in maintaining consistent blood glucose levels. However, the advent of insulin pens facilitated easier self-administration, reducing discomfort. The development of insulin pumps allowed for continuous insulin infusion, enhancing glucose control. A pivotal advancement was the introduction of Continuous Glucose Monitoring (CGM) devices, providing real-time glucose data, essential for informed decision-making. This set the stage for Artificial Pancreas Systems (APS), which integrate CGM data with insulin pumps for automated delivery, closely mimicking natural pancreatic function. Bionic technology, blending biological and artificial processes, has been instrumental in advancing insulin delivery. It underpins devices such as APS, utilizing algorithms, sensors, and automated pumps for precise blood sugar regulation, minimizing manual intervention. These innovations offer tailored, user-friendly solutions, notably improving patient outcomes. Modern insulin pumps, equipped with CGM integration, predictive algorithms, and smartphone connectivity, exemplify significant progress in device functionality, offering accurate and adaptable insulin management. These features not only mitigate risks associated with blood glucose extremes but also empower users with finer control over their insulin dosing, responding dynamically to glucose level changes.

Technological innovations and advancements are an ongoing trend in this vertical. The high demand for advanced insulin delivery devices is supporting the adoption of recently launched innovative pen devices and portable pumps, which is estimated to boost the market growth. Also, favorable reimbursement policies for these devices, mainly in developed countries like the U.S. and Germany, are anticipated to fuel the market growth during the study period. However, stringent regulatory requirements regulating the approval of insulin delivery devices and the high cost of insulin analogs in diabetes care management are major factors restraining the growth of this industry.

The market's prominent competitors are taking different initiatives such as acquisition, funding, and product development to expand their product portfolio and enhance their manufacturing capacity. For instance, in October 2021, Eli Lilly partnered with Cipla, to market its Insulin products (Humalog and Trulicity) in India. Additionally, In June 2021, the company acquired Protomer Technologies, to strengthen its market presence. Further, Novo Nordisk, joined hands with Biocorp to develop a Bluetooth-enabled smart add-on device for their pen insulin injector.

Request a free sample copy or view the report summary: https://www.grandviewresearch.com/industry-analysis/insulin-delivery-devices-market

Insulin Delivery Devices Market Report Highlights

• The insulin pens segment was the largest revenue-generating category of this market in 2021. The pen is equipped with self-contained cartridges and offers ease in handling and less pain while injecting insulin. The advantages of these pen devices over other products are resulting in their growing popularity, thus serving as a vital factor in contributing to the sectorb s highest share in this market
• The home care segment is estimated to be the fastest-growing segment due to increased adoption of self-care diabetes management devices and the availability of simplified and user-friendly product designs for patients
• North America is the leading regional sector and accounted for the largest revenue share in 2021 primarily due to the favorable reimbursement scenario in this space. Also, the presence of major manufacturers in this region is supporting market growth
• In Asia Pacific, the market is anticipated to grow fast during the forecast period. The high prevalence rate of diabetes in countries, such as China and India, is a major factor contributing to market expansion in this region

Insulin Delivery Devices Market Segmentation

Grand View Research has segmented the global insulin delivery devices market report based on product, end use, and region.

Insulin Delivery Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Insulin Pens
  • Reusable Insulin Pens
  • Disposable Insulin Pens
• Insulin Pumps
  • Patch Pumps
  • Tethered Pumps
• Insulin Pen Needles
  • Standard Pen Needles
  • Safety Pen Needles
• Insulin Syringes
• Other Products

Insulin Delivery Devices End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Homecare
• Other End Users

Insulin Delivery Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Key Players in Insulin Delivery Devices Market

• Novo Nordisk A/S
• Sanofi
• Eli Lilly and Company
• Ypsomed AG
• Medtronic
• Insulet Corporation
• B. Braun SE
• Owen Mumford Ltd.
• Tandem Diabetes Care, Inc.
• BD (Becton, Dickinson, and Company)

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Metal Forging Market Growth & Trends

The global metal forging market size is expected to reach USD 145.44 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.7% during the forecast period. Rising awareness about climate change and increasing investment in renewables, especially in wind and hydro, by governments is expected to boost the consumption of forged components. Thus, this investment is expected to propel the product demand during the forecast period. For instance, in October 2021, the U.S government unveiled plans to build up to 7 major offshore wind farms. The government is targeting to produce 30 gigawatts of wind power by 2030.

This surge was attributed to consumer activity and capital expenditure spending that augmented the U.S. economy to its strongest growth since 1984. The country touched a 37-year high of 5.7% in 2021. The recovery indicates a resumption of industrial activities, which, in turn, is anticipated to augment the demand for metal forgings in the country over the coming years. The growth of the market is being driven by the rising investments in energy, infrastructure, aerospace, and transportation, among others. In 2021, U.S. Senate passed a massive infrastructure bill worth USD 1 trillion. As per this bill, the government is heavily investing in roads, bridges, Electric Vehicle (EV) networks, public transit, high-speed internet, and clean drinking water.

Similarly, in April 2022, the government of the country announced that it is planning to develop a 40 GW offshore wind project by 2050 that is expected to spread over 50 wind farms.Metal forging is the process, in which metals are shaped and formed using compressive force. These forces are applied using pressing, hammering, and rolling. Increasing demand for the product in various industries, such as power, construction, agriculture, marine, and aerospace, is anticipated to augment the market growth.Based on raw material, carbon steel accounted for the largest revenue share in 2021 and it is expected to maintain its dominance throughout the forecast period.

The growth is attributed to the properties of the material as the product often has a tight grain structure, which makes it mechanically strong to withstand friction. Also, carbon steel is cheaper than its counterparts.Construction is anticipated to expand at a steady CAGR, in terms of revenue, during the forecast period. The growth is attributed to increasing government investment in the construction sector to untangle the negative impact created by the COVID-19 pandemic.In November 2021, the Italian government came up with a new recovery and resilience plan to foster economic growth by 1.5 to 2.5% by 2026. The government is expected to invest in the construction of public buildings, renewable energy, and waste & water management.

In 2021, Asia Pacific was the largest regional market, in terms of revenue as well as volume. China and India were the largest consumers of metal forgings in 2021 in the APAC region. The rising demand for forged products from various application industries, such as construction, automotive, and energy, has pushed product consumption in the region.The global metal market is highly competitive. The rising demand for forged products has forced key manufacturers to opt for merger & acquisition strategies. For instance, in June 2021, Bharat Forge, a leading forging company in India announced that they have acquired Sanghvi Forging & Engineering Ltd.

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Metal Forging Market Report Highlights

• The aluminum raw materials segment is anticipated to register the fastest CAGR during the forecast period due to the high demand for lightweight materials from industries, such as aerospace, power generation, and automotive
• The aerospace application segment is expected to grow at a steady CAGR during the forecast period due to the high demand for air travel owing to changes in social behavior, which, in turn, is boosting aircraft production
• North America is expected to register a CAGR of 4.7%, in terms of volume, from2022 to 2030. Increasing investment in the construction & infrastructure industry and demand for renewables is driving the regional market
• The agriculture application segment is expected to register a significant CAGR, in terms of revenue, during the forecast period
• Steady demand for farm equipment in countries, such as India and Brazil, is likely to support market growth in the coming years

Metal Forging Market Segmentation

Grand View Research has segmented the global metal forging market based on raw material, application, and region:

Metal Forging Raw Material Outlook (Volume, Kilotons, Revenue, USD Billion, 2017 - 2030)

• Carbon Steel
• Alloy Steel
• Aluminum
• Magnesium
• Stainless Steel
• Titanium
• Others

Metal Forging Application Outlook (Volume, Kilotons, Revenue, USD Billion, 2017 - 2030)

• Automotive
• Transportation
• Aerospace
• Oil & Gas
• Construction
• Agriculture
• Power Generation
• Marine
• Others

Metal Forging Regional Outlook (Volume, Kilotons, Revenue, USD Billion, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America

• Middle East & Africa

List of Key Players of the Metal Forging Market

• Arconic
• ATI
• Bharat Forge
• Bruck GmbH
• China First Heavy Machinery Co., Ltd.
• ELLWOOD Group, Inc.
• Jiangyin Hengrun Heavy Industries Co., Ltd.
• Nippon Steel Corp.
• Precision Castparts Corp.
• Kovárna VIVA
• Larsen & Toubro Ltd.
• Scot Forge Company
• thyseenKrup AG

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Condom Market Growth & Trends

The global condom market size is anticipated to reach USD 20.73 billion by 2030, exhibiting a CAGR of 8.72% during the forecast period, according to a new report by Grand View Research, Inc. The market is expected to grow due to increasing awareness about the use of condoms for reducing the spread of HIV and other STIs, along with the availability of a variety of condom types to meet consumer preferences.

According to the World Health Organization (WHO) in 2023, approximately 374 million new cases of syphilis, gonorrhea, chlamydia, and trichomoniasis were reported annually. In the same year, WHO reported that 39.0 million people were living with HIV globally, with two-thirds of them residing in the African countries. This can lead to serious complications beyond the immediate effect of the infection itself. If left untreated, STDs can lead to complications such as impotence and infertility. According to a study published on Factors associated with adverse pregnancy outcomes of maternal syphilis in Henan, China, 2016-2022, in 2016, around 1 million pregnant women were detected with active syphilis, which resulted in 200,000 stillbirths and 350,000 adverse birth outcomes. This is expected to boost demand for the use of condoms during the forecast period.

The market for condoms is expected to witness new opportunities arising from the integration of technological advancements, including the introduction of smart condoms, as well as the development of eco-friendly and sustainable condom options. These innovations could lead to a shift in consumer preferences and behaviors, resulting in future growth of the market. The i.Con Smart Condom, manufactured by British Condoms, marketed as the “world's first smart condom,” is in reality a ring that fits over a traditional condom and tracks various metrics related to sexual activity. This device measures parameters like thrust speed, calories burned, duration of the session, & span and even compares performance through an app.

Online platforms, such as Besharam, Amazon, JUMIA GROUP, Condom King, Clicks, shycart, Chemistdirect.co.uk, and Kasha Kenya, offer a wide range of condom brands and variations. The availability of condoms on e-commerce websites is helping customers avoid the need for face-to-face interaction when purchasing condoms, which is helping to overcome social prejudices and stigma surrounding their use. This is expected to further boost the demand for condoms through online channels.

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Condom Market Report Highlights

• In terms of material type, the latex segment held the largest share in 2023. Latex condoms are favored by customers for their compatibility with lubricants and sex toys. However, the non-latex sector is anticipated to exhibit rapid growth in the foreseeable future due to the efficacy, resilience, and adaptability of this material type.
• Based on product, the male segment has the largest market share in 2023. Male condoms are the mostly preferred option among couples, which results in higher demand and high segment growth
• Based on distribution channel, the public health distribution segment dominated the market in 2023. The e-commerce segment, on the other hand, is expected to grow at the fastest CAGR during the forecast period.
• Asia Pacific dominated the market in 2023 and is expected to register the fastest CAGR over the forecast period, due to various factors such as a large adult population, the presence of manufacturers involved in the export of condoms, and increasing awareness about sexual wellness products.
• In March 2023, Durex launched RealFeel condoms, a notable addition to the market made with polyisoprene to provide a skin-on-skin experience, enhancing comfort and sensitivity. These new launches reflect the growing popularity and innovation in the non-latex market, providing consumers with more choices and options for safe & pleasurable sexual experiences 

Recent Developments

In April 2023, Veru Inc. has entered into a Purchasing Agreement with Afaxys Group Services, LLC (AGS) to offer Veru’s FC2 Female Condom (internal condom) through the AGS Group Purchasing Organization (GPO). This agreement will benefit up to 31 million women and men who depend on community & public health centers for essential healthcare.

In May 2021, SKYN, the leading sexual wellness brand and maker of the nonlatex condom, has launched SKYN Excitation, a new condom with a unique wave design featuring raised dots on the most sensitive areas. This new product is set to enhance the sexual experience for those who use it.

Condom Market Report Segmentation

Grand View Research has segmented the global condom market based on material type, product, distribution channel, and region:

Condom Material Type Outlook (Revenue, USD Million, 2018 - 2030)

• Latex Condoms
• Non-latex Condoms

Condom Product Outlook (Revenue, USD Million, 2018 - 2030)

• Male Condoms
• Female Condoms

Condom Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Public Health Distribution
• Drug Stores
• E-commerce
• Mass Merchandizers

Condom Regional Outlook (Volume in ‘000; Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

List of Key Players in Condom Market

• FUJILATEX CO.,LTD
• Reckitt Benckiser Group PLC
• Church & Dwight Co., Inc.
• Karex Berhad
• LELO iAB
• Lifestyles
• Veru Inc.
• Okamoto Industries, Inc.
• MAYER LABORATORIES, INC.
• Cupid Limited
• RITEX GMBH
• Pasante Healthcare Ltd.
• CPR GmbH
• Mankind Pharma
• Sagami Rubber Industries Co., Ltd.
• rrtMedcon

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