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Medical Device Coatings Market Penetration and Growth Prospect Mapping By 2025
Development in the design of medical devices such as guidewires, catheters and stents has enhanced the quality of medical concern to a big extent. However, these equipment’s are prepared by materials which when approaching a contact with the exterior environment can source undesirable difficulties such as blood clots, bacterial infection, and tissue trauma. Medical Device Coating is being utilized to lessen such shortcomings. Medical device coating skill utilizes UV curing or an organic solvent for the function of coating the medical equipment. Water-based or dry formulations are utilized as coating technology which facilitates solvent free dispensation.
The medical equipment coatings market is determined by growing healthcare consciousness in developing and developed countries coupled with growing demand for enhanced healthcare & medical facilities. Medical device or equipment coatings are being utilized for wear & tear, to counter microbial growth and avoidance of infection by medical devices. Moreover, major foreign investment in the medical equipment industry in China coupled with compassionate governmental policies and regulations is expected to drive requirement of medical equipment or device coatings.
Growing requirement of nanotechnology supported coatings is projected to provide superior opportunities for industry growth over the forecast period. Though, instability in a cost of raw materials coupled with severe governmental policy and regulations is expected to obstruct market growth over the forecast period.
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Medical device or equipment coatings assist in plummeting the roughness between tissues and medical devices, wetting, wear-resistance, uniform adhesion, offers surface coverage and coating homogeneity. Growing awareness about modestly persistent surgeries amongst the patients is expected to drive the worldwide medical device coating industry. In addition to which, expansion prospect in medical industries coupled with budding economies is expected to drive the worldwide market for medical device coatings to some level over the forecast period. Growing people anxiety towards wellbeing and health coupled with growing disposable earnings is however expected to augment the demand for enhanced medical facilities over the forecast period. Moreover, shifting government regulation for medical devices around diverse countries may obstruct the expansion of medical device coating industry to some extent.
The occurrence of epidemics is growing at an upsetting rate. The high occurrence of chronic sickness, increasing awareness about cleanliness, and growing worldwide population are critical reasons that are expected to fuel the demand of medical device or equipment coatings market globally. While the development prospects of the industry seem very capable, execution of severe government regulations and unstable raw material prices may obstruct the market expansion to a level over the forecast period. On the basis of formulation of medical device coatings, the market can be segregated into dry lubricant coatings, super-hydrophilic coatings, and adhesive coating.
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Dry Lubricant coating is expected to capture maximum market share over the forecast period owing to its extensive use over the forecast period. The super-hydrophilic medical device coating is accepted to grow at a very fast rate over the forecast period owing to increasing demand for such devices which demands great optical clarity coupled with excellent water attraction. On the basis of a type, the market can be segregated into Drug-eluting coatings, Hydrophilic coatings, and Anti-microbial coatings. Antimicrobial coatings are expected to capture maximum profit over the forecast period owing to their huge demand in medical and healthcare industry. The drug-eluting coating is expected to capture the second largest revenue over the forecast period owing to their capability of slow releasing of drugs for removal of blockages in veins or arteries.
Hydrophilic coatings are expected to be the fastest growing section over the forecast period owing to their capability of providing smooth lubrication when they are in touch with human tissue. On the basis of their utilization over medical industry, the market can be segregated into orthopaedics, neurology, surgery, gynecology, cardiology, ophthalmology, dentistry and others. Cardiology is expected to capture maximum revenue over the forecast period owing to their extensive use in various instruments such as angioplasty, balloon catheters, occlusion devices, percutaneous devices, coronary stents, guide wires, and others. On the basis of a geographical region, the market can be segregated into Asia Pacific, North America, Europe and Rest of World.
North America is expected to capture maximum market share in terms of revenue over the forecast period owing to the US which is expected to be the huge market for medical device coating. Asia Pacific is expected to grow rapidly over the forecast period owing to developing market of India and China. Superior growth outlook in the medical & healthcare industry has pressurized many multinational companies to endow more in the budding market of Asia Pacific. Europe is expected to be the second-largest market in terms of revenue Some of the key players in the market are Sono-Tek Corp, Royal DSM N.V., Parlex Corp, TheraSyn Pharmaceuticals Inc., N8 Medical Inc, Hydromer Inc., Abbott Laboratories, Materion Corp., Surmodics Inc., AST Products, Precision Coating Company Inc., Kane Biotech Inc. and Specialty Coating Systems Inc.
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Paints And Coatings Industry Size, Share, Growth Prospects Forecast 2014-2025
The global Paints and Coatings Market is expected to cross USD 227.70 billion by 2025. Paints and coatings enable better products that are durable, much attractive, reliable, and highly saleable. Paints and coatings are looked upon as the materials that add value to the finished products. The paints and coatings serve three major objectives; enabling aesthetic appeal or decorative value to surfaces and products, enabling protection from damage from harsh environment, and tagging specific attributes to the product. Besides, paints and coatings constitute a specific material and design with significant texture variables.
Paints and coatings industry is driven by factors such as rise in use of paint and coating in automotive, construction, and marine industries. In addition, rise in innovation in manufacturing processes and derivation of formulation technologies propel the market growth. The market witnesses remarkable trends such as inception of nanotechnology in the paints and coating industry. However, increase in use of substitutes, wallpapers, and significant costs associated with paint related activities is likely to hamper the market growth in the near future.
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Product segment for paint and coating market includes waterborne formulations, water-based coats and water based polyurethane. End-use segmentation for paints & coatings industry comprises general industries, automotive, wood, aerospace, and marine. Geographical segmentation for paints and coatings market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa.
Asia-Pacific’s paint and coating industry is anticipated to rise at a staggering CAGR in the forecast period due to increase in demand for paint and coating products coupled with vast presence of paint manufacturers in these regions. In addition, rise in commercial construction and related activities is likely to trigger the APAC market growth.
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North American and European markets are expected to gain a significant CAGR in the forecast period due to stringent environmental norms and precaution against hazardous chemicals. Middle East and African regions are likely to gain a positive traction in the forecast period due to rise in imex business. Besides, flexible pricing coupled with ease of availability is also expected to stimulate the market growth in the near future. The key players in the paint & coating market include PPG Industries, AkzoNobel, Sherwin-Williams Company, Axalta Coating System, Valspar Corporation, Nippon Paint Holdings, Jotun Group and RPM International Inc.
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Polypropylene Nonwoven Fabric Market Demand By Region, Growth Rate, Revenue Till 2025
The global Polypropylene Nonwoven Fabric Market size was valued at USD 26.3 billion in 2015 and is expected to reach USD 34.98 billion by 2025, at a CAGR of 8.5%. The market is projected to witness significant growth over the forecast period owing to rising importance and acceptance from end-user industries such as automotive, aviation, geotextile and construction. Furthermore, rising use of the PP nonwoven fabrics for fabricating baby clothes coupled with increasing utilization for manufacturing adult incontinence products is anticipated to propel the market growth over the next eight years. In addition, the market is projected to witness uprising demand from medical industry as well as from feminine care industry due to the favorable fabric quality, thus enabling the market to report augmented growth over the forecast period. However, growing stringent regulation imposed on manufactures due to rising environmental concerns coupled with increasing fluctuation in the raw material prices has enabled the market to witness hindered growth over the next eight years.
The market is segmented by product into spun bonded, staples, composite, and meltdown. Spun bonded PP nonwoven fabric segment is expected to account for more than 50% market share over the forecast period owing to its application from adult diapers, medical products and personal care products. On the other hand, staples nonwoven fabric segment is anticipated to witness fastest growth over the next eight years primarily due to its application from automotive, agricultural and construction industries. The PP nonwoven fabric market is highly competitive owing to the presence of several domestic and international suppliers.
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However, the sector has the presence of various new players, who face difficulty in competing with other major companies in terms of functionalities, features, quality, and services. Over the forecast period, the growing new product development activities coupled with increasing adoption of new technologies for achieving operational efficiency has enabled the competition to become more aggressive. On a contrary, few major players through continuous R&D endeavors coupled with growing expertise knowledge in the industry have enabled them to witness competitive edge, thus propelling the overall growth of the sector over the next eight years.
North America and Europe are anticipated to witness major market share over the forecast period owing to the growing applications in end-user entities including automotive, aviation, personal care, medical, and geotextile. Particularly, the UK, Germany, Italy, France and the US are projected to account for growth in the region primarily due to rising rapid technological advancements used for producing superior quality finished materials, thus enabling the regions to anticipate augmented demand by 2024.
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Asia Pacific is anticipated to account for fastest growth over the forecast period primarily due to the growing awareness regarding polypropylene nonwoven fabric utilization in numerous industries for manufacturing adult diapers, famine products and medical products. Furthermore, increasing application in automobiles coupled with growing demand for superior quality fabric is also expected to bolster the market growth by 2025. India, China, and Japan are anticipated to witness the highest share in the region majorly owing to the rising disposable income, foreign investments in manufacturing industries and growing government initiatives in medical sector for. The Middle East & Africa is projected to see significant growth by 2020 mainly owing to increasing urbanization, industrialization, and globalization. The sector has huge potential in this region primarily owing to rising per capita income and foreign investments.
Key players of the market include Fibertex, AVGOL, Kimberly-Clark, Fiberweb, and First Quality. Few other companies in the sector are PGI, Toray, and Mitsui. The PP nonwoven fabric industry is highly consolidated having more than 40% market share by top five players. The major large players generally tend to collaborate with smaller companies to increase market share and competitive advantage. These market players through continuous R&D endeavors focuses on building a wide distribution network that supports the overall coupling market to report significant growth over the forecast period. Companies through strategic expansions and mergers & acquisitions have been trying to cater large volume of customers with products that are cost-effective and high quality.
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Vinyl Acetate Monomer Industry Financial Performance, Product Benchmarking Forecast 2020
The Global Vinyl Acetate Monomer Market is anticipated to reach USD 9.86 billion by 2020. Global vinyl acetate monomer market demand is expected to witness significant growth on account of its widening application base in solar power sector. Key factors expected to drive global industry include high demand from packaging, solar energy and footwear industries.  Vinyl acetate (VA) is monomers derived from ethylene and acetic acid. Their usage in the formation of copolymers results in products which have softness similar to rubber and high flexibility. They are known to be good elastomers having both viscosity and elasticity. The product as wide industrial applications and compete with rubber and vinyl products. Extensive VA use in the field of packaging and energy sector drives the global demand over the forecast period.
Films made up of this organic compound find wide applications in meat, poultry and sea food products packaging. These films offer stronger and thinner packaging which results in keeping food products fresh by eradicating puncture and package failures and therefore helps in increasing customer satisfaction levels. Polymeric sheets made up of vinyl acetate are used for encapsulation of solar cells. It is one of the major steps in fabrication of photovoltaic modules which makes the market for vinyl acetate highly lucrative.
Developments in solar energy sector are expected to further drive vinyl acetate demand over the forecast period. Solar power is a clean source of energy and is being highly implemented in developed countries including US, UK and France.
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Emerging economies have also realized its use and have started setting up solar panels to meet ever growing demand for energy. Such initiatives to increase renewable energy use are expected to positively impact overall industry demand in the future. Other applications include footwear industry where the need to provide comfort and safety to the consumers drives the usage. These monomers provide toughness and are crack resistance. They are majorly used as shock absorbers in footwear products. Vinyl acetate resins meet the electrical appliances need on account of their high heat resistance and stress cracking, therefore making them favorites for wire and cable insulation. Low cost substitute’s availability which includes rubber and plastic are expected to provide stiff competition over the foreseeable future.
Manufacturers are expected to focus on continuous product development through research and innovation. New polyvinyl acetates in near future are expected to hamper the growth over the forecast period. Manufacturers are expected to observe huge opportunities in North America and Asia on account of ever growing packaged food industry. Companies indulged in other poly vinyl acetates business have better scope of entering into the market on account of well-established marketing channels and manufacturing setup.  The copolymers formed with the help of vinyl acetate should be handled with care during the manufacturing process on account of its flammability and volatility. Vinyl acetate vapors are heavier than air and particles tend to travel some distance before settling in low areas. Therefore, stringent practices are observed in its manufacturing to prevent environmental hazards.
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Industries are capital intensive for establishing closed and controlled processes. Workers handling VA need to be trained on safety measures mentioned in material safety data sheet. All wastes should be disposed in compliance with the federal, EU or local governing rules and regulations. Vinyl Acetate is not generally sold in consumer market but are a part of consumer applications. They are traded in business markets. There lies an opportunity for the manufacturers to establish proper sales channel to cater to untapped customers.  Maintaining supplier buyer relation plays a major role in developing prolonged sales and efficient inventory management. Proper care should be taken during transportation resulting in need of proper containers and storage facilities. Vinyl acetate council is a non-profit body representing vinyl acetate monomer manufacturers in North America. It provides guidelines for safe and environmental friendly manufacturing processes. It monitors and participates in government proceedings for continued use with safety measures. Similarly, European chemistry industrial council is a governing body looking after vinyl acetate manufacturing functions.
The VA monomer is segmented on the basis of application usage which includes food packaging, energy sector, footwear and electrical cabling. Asia Pacific is the largest market in terms of demand on account of high usage in food packaging. Emerging economies including India and China are focusing on clean energy which should lead to an increase in demand in these regions. Regional demand is followed by North America and Europe on account of advanced solar energy sectors. Lack of suitable power infrastructure in South America and Africa are expected to show a slow growth in this region.  Key players in the market are Dow Chemical Company, LyondellBasell Industries, ExxonMobil Corp and E.I. du Pont de Nemours. Companies focus on promoting vinyl acetate for multiple uses across industries and look out for new applications. Therefore, apart from the conventional use, this organic compound has found applications in healthcare, agriculture and construction.
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Europe Oilfield Equipment Market Share By Deployment, Applications, Top Key Players Till 2020
Europe Oilfield Equipment Market size was valued at USD 16.39 billion in 2014 and is anticipated to reach USD 18.71 billion by 2022. Increase in demand of crude is driving the exploration & production and onshore & offshore drilling activities in many locations of Europe. Increasing number of crude field production in the expanse owing to deep water discoveries in the North Sea is anticipated to drive the demand over the forecast period. Companies involved in exploration and refining are shifting their focus to make the most of their revenues and gain the competitive advantage. Moreover, companies are also involved in research and development of shale gas extraction technology.
Crude prices are declining as observed in recent past; this has impacted the European oil field equipment market and service market. Decrease in prices is forcing the producers to concentrate on long term projects instead of short term projects. The may result in fall in machinery demand. In Europe, offshore drilling contractors are cutting costs and reducing capacities to minimize the losses. Companies that rent the equipment including Transocean are either accommodating rig prices quoted by the purchaser or delaying the deliveries in order to cut the losses triggered by decreasing crude prices. According to industry experts, crude prices are expected to recover after 2017 which also means machinery revenues are predicated to drive after a period of two years. As the crude price variations are difficult to forecast, it is challenging to project its influence on equipment revenues over the forecast period.
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Drilling equipment market is anticipated to grow significantly owing to machine requirement in piercing fields such as bits, rigs, and pipes which are particularly expensive. This segment is expected to generate maximum revenue compared to other segments. The industry is predicted to dominate over the forecast period owing to energy development activities in Russia, Norway and the UK. Moreover, Horizontal and directional drilling technology is expected to increase the profits. Initiatives by European government to explore and develop shale gas will drive the drilling market segment over the period of seven years. Field machinery used in production is anticipated to have lower CAGR over the period of seven years owing to less development in technology in this segment. Lifting devices and well head are also included in machinery. Valves and pumps machines are expected to have a moderate CAGR of 1.5% over the period of seven years. Advancement in technology is expected to emerge as a major market driver.
Rest of the segments is expected to witness relatively higher growth as the segment comprises of well surveying devices and machinery. The division is anticipated to grow at significant rate owing to enhancing down hole and wire line measurement techniques. Russia is a leader in oil field business as it has the highest number of oil field development activities.
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Russia is one of the major producers of crude producer globally. According to BP statistics, Russian oil federation produced around 10838 thousand barrels of oil per day was produced in 2015. Oil production is directly dependent on the field machine demand, Russia had maximum share in global market of field machine. The market domination of Russia is expected to continue over the forecast period.
Norway is projected to grow at the highest CAGR owing to rising offshore field development activities due to the presence of North Sea. UK is also anticipated to grow at significant CAGR and produce significant incomes owing to increasing offshore activities as compared to onshore. Major industry participant’s manufacturers based in Europe include SBS Oilfield Equipment GmbH, Zenith Oilfield Technology, Schoeller-Bleckmann Oilfield Technology GmbH, Atlas Copco, KSB AG, Foster Wheeler AG, Vallourec, Sandvik AB, Technip SA, Sulzer Limited, and Tenaris SA.
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Phenolic Resins Industry Is Estimated To Witness A Huge Growth Nearby Year 2025
Industry Insights
The global Phenolic Resins Market size was valued at USD 9.30 billion in 2015 and is expected to reach USD 16.0 billion by 2025, with a CAGR of 5.4%. The global phenolic resins industry is anticipated to witness stable growth owing to rising demand from transportation and construction sector. Phenolic resins find their applications in numerous segments on account of their properties such as good heat resistance and flame retardancy, low smoke and toxicity, high mechanical strength and easy blending with other polymers to attain high performance. Product demand is expected to rise owing to of increasing use of fire retardant constituents in crucial aircraft and automotive components. Crude oil is the primary raw material used in the manufacturing of phenolic resins and hence price instability is expected to have a direct influence on demand for phenolic resins. In order to ensure conformance to environmental standards regarding formaldehyde emissions, significant funding and investments have to be made and this may slowdown the market growth. However, the positive side is that there is an increasing adoption of nanotechnology in phenolic resins production that aims to improve their functional and structural characteristics and expand their scope of application.
Product Insights
Novolac resins and resol resins are the two majorvarieties of phenolic resins. Novolac resins, are expected to gain prominence in the forecast period owing to its ability to mould easily. Resol resins constituted for a major chunk of the market share on account of growing demand from wood adhesion and laminates sector.
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They have a widespread usage across various segments as electrical laminates, hardeners and photo resistors in structural laminates for the electronic circuit board and aerospace industries. Furthermore, considerable demand from applications such as oriented strand boards (OSB) and production of engineered laminated composite lumber (LCL) also contributed to the large demand for resol resins in the past few years. It is expected to continue the similar trend over the forecast period from 2014 to 2020.
Application Insights
Phenolic resins provide services to numerous end-use industries such as automotive, aerospace and constructional applications in laminates, insulation, wood adhesives and molding compounds. Wood adhesives were the dominant application on account of increased use in plywood and particleboard adhesives owing to phenolic resins which form chemical bonds with the phenol-like lignin wood. These products are capable of retaining moisture and hence are preferred for exterior plywood applications.
Moulding compounds are expected witness high growth. This can be attributed to the ability of phenolic resins to provide fire safety and amplify vehicular efficiency. Rising demand from the automotive segment is anticipated to play a critical role in the phenolic resins growth over the forecast period. They are used in numerous components in automobiles including cooling system, air supply system brake, suspension, powertrain and fuel system.
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New product developments in molding compounds by the use of carbon fiber or long glass fiber is expected to provide market opportunities in displacing ceramics, metals and filled high-performance thermoplastic resin systems in applications where fuel efficiency and weight reduction play a vital role such as aircraft and industries. Molding materials that contain long fibers and carbon fibers are characterized by newly introduced phenolic reinforced structures that exhibit high mechanical strength and high impact strength at high temperatures for additional displacement of ceramics and metals.
Fiber-reinforced composites with phenolic resins is anticipated to flourish owing to increase in new aircraft by Airbus (787, A380, and A350) and Boeing. These require cargo liners, aircraft interiors, light weight paneling, increased volume in honeycomb manufacture for aircraft and potential use of high-density phenolic foam as a replacement for balsa sandwich panels. Additionally, the development of carbon foam is anticipated to witness expansion into composite associated areas such as light weight paneling and tooling.
Regional Insights
Asia Pacific emerged as the market leader in phenolic resins market on account of widespread use in construction applications and growing consumption of moulding compounds in India and China. China is a large phenolic resins marketand a significant consumer at a global level. Within North America, U.S. is one of the leading consumers in wood adhesive applications of phenolic resins. In addition, demand for thermal insulation productsis expected to be on a rise on account of the legislation implemented in various countries and regional associations for constructing energy efficient buildings. Further, growing use of composites in marine, mass transit and aerospace is anticipated to boost the phenolic resins market.
Competitive Insights
Key market players have expanded their manufacturing facilities to sufficethe growing demand. As an instance, in 2013, Ludwigshafen Verbund site had a new plant set up as a part of BASF modernization and expansion of production facility. Other majorparticipants in the market include Hitachi Chemical Co. Ltd., Georgia Pacific Chemicals LLC, Kolon Industries Inc., SI Group, Inc., Prefere Resins, DIC Corporation, Momentive Specialty Chemicals Inc., Sumitomo Bakelite Co. Ltd., Dujodwala Paper Chemicals Ltd., and Mitsui Chemicals Inc.
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Aquaculture Market Is Estimated To Be Rapidly In Forthcoming Period Of 2012-2020
The global Aquaculture Market is expected to be valued at USD 202.96 billion by 2020. This may be primarily attributed to the growing seafood consumption paired with rising economic importance associated with fisheries. The proportion of aquaculture in the global fisheries industry has so far been small compared to captured fish, thus, considerable efforts are being made to enhance aquaculture activities worldwide. The aquaculture market is anticipated to surpass the capture fisheries market as the primary source for seafood consumption. Aquaculture is defined as the cultivation of fresh, marine and brackish water species such as oysters, fish, and shrimp under guided climatic conditions. It includes varied activities such as shrimp farming, oyster farming, and fish farming.
The depleting volume of captured fish in the global reserves due to extensive fishing in the past two to three decades is considered as one of the major driving factors for industry growth. Growing consumer concerns associated with the consumption of fish and other fish products followed by a surge in consumption of fish is expected to spur product demand over the next few years. The enhanced practice of poly-culture systems such as fish and rice farming, designed to increase yield is envisaged to open new avenues for industry growth. Escalating demand for seafood owing to rising population coupled with increasing buyer purchasing power is anticipated to catapult growth. Growing belief of fish being a heart-healthy form of the protein is also expected to drive product demand significantly.
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Lack of technological development and adverse environmental conditions are anticipated to hamper growth. The market being pregnable to the unfavorable climatic condition has led to the outbreak of several diseases. Additionally, unsustainable development may damage the already stressed coastal areas. The aforementioned factors may hinder production and the overall industry growth over the next seven years.
The industry can be segmented on the basis of culture environment and product. On the basis of culture environment, the market can be segmented into brackish water, fresh water and marine water. Based on product, the market can be segmented into sea bass, mackerel, milkfish, crustaceans, carps, sea bream, trout, salmon, mollusks, catfish, and turbot. Fresh water may emerge as the fastest growing culture environment segment. Factors such as simulation of the culture environment in enclosed areas including concrete raceways, cages and ponds are likely to contribute towards industry growth. Marine water is expected to witness significant growth owing to the increasing consumer demand for fishes breed in sea water.
Carps are expected to emerge as the fastest growing fish species and may account for the largest share over the forecast period. Carps have the ability to breed in less than ideal environmental conditions which have significantly resulted it in being one of the majorly farmed aquatic species in this industry. Carps are also widely used in poly culture systems such as fish and rice farming which may further propel demand.
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Further, mollusks such as clams and mussels being an important food source are expected to witness substantial growth over the next few years. This may be primarily attributed to escalating demand for mollusks owing to increasing consumer awareness pertaining to the health benefits associated with the consumption of mollusks. The increasing use of mollusks in poly culture is intensified by the factor that its presence in water bodies and tanks helps in maintaining a good quality of water by filtering contaminants, sediments and nutrition.
The industry is also anticipated to witness significant demand for products including Crustacean, Salmon, Sea bass and sea bream. Crustacean is expected to witness high demand in nutritional seafood segment owing to its high protein content which appropriately satisfies the customers’ demand for nutritional seafood. Mackerel being rich in omega-3 fatty acids content is considered a significant sea food which is required for balanced metabolism. In addition, Salmon has a rich content of omega-3 fatty acids, vitamin D and protein and is considered a healthy food. Sea bream and Sea bass have a rich content of selenium, vitamin B6, magnesium and phosphorous and are thus preferred as a low-calorie diet.
China is expected to account for the largest market share in the global aquaculture market owing to induced conditions, easy availability of natural resources and cheap labor which are presumed to contribute significantly towards regional growth over the next few years. Asia Pacific region excluding China may grow at a healthy pace owing to technological innovations and perfect climatic condition. Notable companies in this industry include Cermaq ASA, Nireus Aquaculture S.A, Cooke Aquaculture Inc., Blue Ridge Aquaculture and Assal Group Ltd. Companies emphasize on developing innovative ways and strictly takes measures to protect stock fishes from diseases and death in order to increase profitability and market share.
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Operating Room Equipment Industry: 2025 Is Anticipated To Rise At A Significant Rate In The Next Couple Of Years
The global Operating Room Equipment Market size was valued at USD 26.24 billion in 2016 and is expected to reach USD 48.50 billion by 2025, at CAGR of 7.2%. Growing demand for improved medical facilities coupled with transition from conventional to state-of-the-art operation theaters is anticipated to escalate the operating room equipment market over the forecast period. Technological transformations, infrastructural development and high investments in the medical devices by hospital and healthcare centers are expected to spur the medical equipment demand over the forecast period. Development of hybrid operating rooms has prompted the installation of multi-purpose equipment, enabling automated results coupled with high operational efficiency, providing ample space for the introduction of high end equipment.
High occurrence of medical disorders among geriatric population along with the prevalence life threatening diseases is anticipated to fuel advanced operating equipment demand. Availability of advanced surgical tools and high prevalence of chronic disorders or diseases is also anticipated to escalate product demand over the forecast period. Key challenge faced by the industry includes the high cost associated, which is expected to hamper introduction of these devices in hospitals. Lack of knowledge and skilled manpower required to handle complex devices is also expected to hinder market growth over the forecast period.  Rise in number of high-end operating rooms accompanying advanced equipment along with increasing number of ASC (Ambulatory Surgical Center) is anticipated to substantially drive the level of innovation among manufacturers instigating them to provide latest technologies.
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Advanced and efficient operating tables, surgical booms, operating room integration systems, operating room lights, surgical headlights, surgical light sources and surgical imaging display forms an integral part of the new age hybrid theaters. Further, anesthesia equipment, electrosurgical generators, defibrillators, respiratory ventilators, endoscopy equipment, vital sign monitors, pneumatic tourniquet, infusion pumps, surgery microscopes, medical stainless steel, patient warmers, suction pumps, hospital stretchers, medical warmers, hospital stretchers, autoclaves & sterilizers, sequential compression devices and vaporizers & accessories contributes essential functionalities to an operating theater.
Integration of non-surgical and surgical equipment in the hybrid operating rooms including patient monitoring, diagnostics and radiology among others coupled with imaging techniques such as MRI scanners, CT scanners and C- arm provides better ease and flexibility to the specialist to perform the task. Installation of hybrid operation rooms largely reduces the hustle of transferring a patient from the operation theater to the scanning center. This greatly automates the work efficiencies and results in better patient care, thereby adding to the business value.
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Operating rooms presently require high-definition fixed imaging and video equipment, enabling information from all over the hospital at the surgeon’s fingertip, and are expected to drive the industry demand over the forecast period. The industry is witnessing a growing trend towards installation of larger imaging systems. Operating rooms today are an economic engine for any medical facility, and accounts for more than 60% of the revenue. Further, hospitals often face an increasing drive for patient oriented effectiveness. Hospitals need to focus on creating value for the patient with the installation of state-of-the-art equipment with a combination of optimally trained medical expert. In addition, optimizing the operation environment helps enhance surgeon performance, and is thereby expected to drive the operating equipment market over the forecast period.
Europe and North America are expected to emerge as the largest markets due to existence of well-established medical sector with the presence of technologically advanced medical systems. The regions are expected to witness significant growth due to the upgradation of technology with advanced automated systems and rise in number of hospitals. Evolving medical industry in the Asia Pacific region including India, Thailand, Malaysia and South Korea due to rise in population encourages the medical sector to install high-end medical facilities and technologies at low costs.
Major players in the market include Steris Corporation, Hill-Rom Holding Inc., GE Healthcare, Phillips Healthcare, Stryker Corporation, Mizuho OSI, Getinge Group, Dragerwerk, Medtronic Inc, Eschmann Equipment, Karl Storz GmBH & Co. KG, Skytron, NDS Surgical Imaging, Berchtold Corporation, Trumpf GmBH + Co. KG, Creative Heath Tech Pvt. Ltd., Siemens Healthcare.
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Wireless Charging Market Prominent Players Contributing In The Development Of Production By 2022
Industry Insights
The global Wireless Charging Market size was valued at USD 1.87 billion in 2014 and is expected to reach USD 22.25 billion by 2022. Future growth opportunities seem to positive on account of increasing adoption of consumer electronic devices such as laptops and smartphones that employ the new technology of wireless charging. Rising need for wireless and hassle-free methods to power different devices amongst end users in industrial sectors including healthcare, automotive, defence and industrial markets is expected to propel market growth in the next eight years. This market is in the growing phase and is observed to experience a wide range of innovations and provide several opportunities to new entrants. In order to improve existing operations and functionalities, heavy investments are made by major market players on research and development. Key emphasis is laid on enhancing and refining the power transmission range that can enable wireless charging of devices for long distances.
Application Insights
Nearly 60% of the overall revenue share was occupied by consumer electronics in 2014. Unavailability of electric sockets at public places and the need to eliminate the trouble caused by wired chargers are expected to trigger growth in this market over the forecast period and gain prominence.
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Defence and healthcare are anticipated to surface as one of the most promising application sectors over the forecast period. Continuous efforts in research and development at Stanford University has resulted in a new way to charge sensors wirelessly in addition cybernetic implants, making way for new generation ultra-small gadgets that can penetrate deep inside the body.
Standard Insights
Few Associations such as WPC and PMA specialize in inductive technology, and A4WP’s Rezence is specialized in resonant technology. However, in June 2015, PMA announced its merger with A4WP and PMA and named it Air Fuel Alliance in November 2015. Hence, WPC and its Qi platform was the sole effective platform for inductive technology.
The merger proved to simplify decision making for hardware developers relieving them from the task of complying with three different standards. However, the combined body of A4WP and PMA poses few technical challenges. Qi, similar to PMA, uses closely connected inductive solution in addition to the newly added specification that employs resonance technology and provisions backward compatibility for Qi receiver devices such as laptops, smartphones and tablets.
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Technology Insights
Latest technology including resonant and radio frequency (RF) is anticipated to materialize into one of the attractive technologies in the industry. Resonant technology is portable and doesn’t require a direct contact thus providing convenience to customers. It also assists in powering devices within small distances. Multiple-device charging in a single go is also a feature of RF-based technology. Owing to its ability to eliminate alignment in case of small devices such as medical implants and wearables, RF-based technology is projected to achieve some prominence over the forecast period. On account of its perceived advantages, several organisations including Humavox have been heavily investing in this technology.
Nearly 50% of the overall share by revenue was contributed to by inductive technology which is relatively older to others. Inductive technology is employed by leading standards and technologies such as PMA and WPC which use Qi technology. Inductive has thereby spurred market growth significantly in 2014. Additionally, Electric Vehicles (EVs) also employ inductive technology for charging purposes.
Regional Insights
Hybrid electric vehicle market is anticipated to be a promising segment for the wireless charging market. Additionally, it is expected to gain prominence over the forecast period in the consumer electronics industry owing to the growing demand for laptops and smartphones. As of 2014, Asia Pacific contributed to approximately 35% of the global revenue.
U.S emerged as the major regional market in North America on account of consumers’ growing inclination towards spending more for powering options, particularly for tablets, laptops and smart devices. Untapped markets such as Africa and Latin America are anticipated to experience a growing adoption of cordless charging over the forecast period hence opening new avenues for wireless charging networks industry.
Competitive Market Share Insights
Key market players in this domain include Qualcomm, WiTricity Corporation, Integrated Device Technology (IDT) and Power by Proxi. Latest developments by various companies include a new launch by Qualcomm in November 2015 that showcases a wireless docking station 802.11ad WiGig dock that is coupled with Snapdragon 820 processor. This device has the potential to initiate power back up when docked on the station.
On the other hand, introduction of new charging techniques that support multiple applications such as automotive, medical, consumer electronics and automotive simultaneously was developed by WiTricity. Further, in December 2015, Qualcomm entered into an agreement with Efacec for Wireless Electric Vehicle Charging (WEVC). It plans to provide powering alternatives for all-electric hybrid vehicles and plug-ins.
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Lysine Market Owing To Rise In Prerequisites Among Various Sectors Forecast 2020
The global Lysine Market is expected to reach USD 6.96 billion by 2020. Lysine Market demand is expected to witness a steady growth on account of its increasing usage in the manufacturing of animal feed. Lysine is an organic compound with a chemical formula C6H14N2O2. It is an alpha amino acid and is mostly used in the biosynthesis of proteins. Human body cannot synthesize lysine and therefore it is mostly obtained through diet. Lysine is injected in consumed meat to provide necessary nutrients. Usage of lysine as a protein synthesizer in animal feed is a major application driving the overall demand. This compound is used by the cattle breeding industry to improve the protein content in beef, chicken and egg. There has been a significant demand for processed meat with high protein content which in turn has propelled the usage of lysine in animal husbandry and cattle breeding.
Further, its application as an herbal supplement has been driving the market demand in recent years. Hectic lifestyle and increasing consumer awareness has created a trend of protein supplement consumption. These supplements are known to improve muscle growth and plays an important role in calcium absorption. Lysine is plays a major role in diet for people recovering from injuries. Their intake for improving body enzymes and antibodies is expected to provide great opportunities in the near future.  Government regulations and safety related to this organic compound offers a major challenge for the overall industry growth. The U.S food and drug administration considers this compound as generally recognized as safe (GRAS). There are no significant regulatory standards for the usage of lysine as an herbal supplement or for medicinal uses.
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Use of lysine for the manufacturing of lysine monohydrochloride is expected to provide great opportunities in the near future. This compound is used as a food ingredient in fabricated snack products. It is used before frying to reduce the content of acrylamide. Market segmentation is done on the basis of application which includes animal feed and body supplements. Animal feed account for maximum segment share owing to the increasing meat consumption. Segmentation demand for protein supplements is expected to grow owing to increasing urban population. Products containing lysine have been very popular among body building and sports activists.
Asia Pacific has been the leading market in recent years in terms of demand and is expected to continue on account of increasing meat consumption. China has shown substantial production and consumption of lysine which is used world-wide for the manufacturing of animal feed. Emerging economies such as India and China are expected to witness a significant growth on account of high investment in poultry and cattle breeding.
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Further, regional demand is followed by North America mainly on account of increasing use of lysine as body supplements. Development of new products for sport activists and body building professionals has fuelled the demand in developed economy such as the US. Europe is expected to show a steady growth over the forecast period owing to the presence of developed animal husbandry practices.
South America and Africa is expected to witness a stagnant growth owing to the slow growth of overall development of application industries.  Major players operating in the market are Global bio chem tech, Cheil Jedang, Ajinamoto, Archer Daniel Midland. Other major players present in the market are COFCO biochemical, Evonik industries, and Shaouguang Juneng Golden Corn. Companies are focusing on research and development in order to find out new applications for lysine. This is expected to diversify the application portfolio and therefore propelling the demand in near future.
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Air Compressor Market Strategic Initiatives, Application By Product Till 2022
The global Air Compressor Market size is expected to reach $37 billion by 2022 owing to the growing awareness on energy saving and increasing industrialization. These devices supply gas for various industrial and non-industrial activities and are used for transporting and compressing of gas in the oil & gas industry. They are widely used in various other end-use industries such as automobile, chemical plants, transport, pharmaceuticals and oil extraction.
Development of energy-efficient air compressors are preferred by numerous industries, air contamination due to oil lubrication and noisy operations of oil-free compressors are limiting the adoption of these devices. Innovation in technology is leading to the higher adoption of air compressors especially in emerging economies. Air compressor market is segmented on the basis of product design, mobility and lubrication method. On the basis of design of the product it is classified as centrifugal, rotary and reciprocating. Centrifugal air compressor is anticipated to have a significant growth owing to demand in industries such as power generation, automobile and others. Factors driving the centrifugal compressor growth include delivering optimal and constant flow of air pressure.
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Portable air compressor and generators are a reliable power source for machines and tools mainly used in construction and mining activities as well as for various industrial applications due to their handiness in transporting the equipment. Ease in handling and low maintenance of these devices has driven adoption in low-duty applications. The mobility segment includes stationary and portable air compressor. Portable air compressor segment is expected to increase during the forecast period owing to increasing end-user demand for enhanced air quality and reliability. On the basis of lubrication, it is classified as oil lubricated and oil free air compressor. Oil free compressors are expected to receive demand from industries such as metal and mining, electronic assembling, infrastructure, pharmaceuticals and food & beverage.
Asia Pacific is expected to witness substantial growth over the forecast period on accounts of strong rail network in India and China. Latin America and MEA are expected to witness prominent growth owing to growing awareness towards eco-friendly products and changing regulatory scenario. Growing food and beverage industry in the U.S. is expected to increase the consumption. Escalating demand for diesel, gasoline and other fuels has led to the development of petrochemical and oil refineries plants in Brazil.
Key factors driving industry growth include reciprocating systems with dual cylinders and oil-free scroll offering, low-cost operations, rising adoption of variable speed air compressor controllers and low maintenance cost of compressors. Significant demand from the oil and gas industry is another factor driving industry growth. It is expected that application of air compressor across various industrial sector to increase during the forecasted period. Increasing demand of noise and pollution free, energy-efficient-power sources is also anticipated to drive industry growth.
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Superior air quality along with high reliability offered is also expected to propel the industry growth over the coming years. Moreover, industry leaders are taking initiatives to increase the overall performance of these devices, which is further expected to escalate the demand. Several manufacturers are trying to design and develop next-generation devices consisting of a variable speed drive. This will help in reducing energy consumption as compared to fixed speed air compressors.
Flexibility towards the end-user requirements and enhanced service offerings may challenge the industry growth. Escalating prices of raw material, noise pollution and bulky size may also hinder demand. Many manufacturers have focused on developing application specific devices to accommodate the demand of the consumer. Product launches, expansions and acquisitions are the major growth strategies adopted by various companies such as Mitsubishi Heavy Industries, Kirloskar, Ebara, ELGI and others. Kobe Steel announced its expansion in South American air compressor market to hit this profitable opportunity. In 2013, Atlas Copco re-launched their SF series of oil free compressors, which have increased adoption among the end users and OEMs.
In 2015, Ingersoll Rand acquired Cameron’s centrifugal compression division to widen its air compressor service portfolio and strengthen its position in the market. Leading players in the market are expanding their geographical presence with the focus on the Asia Pacific region. They are investing heavily in order to innovate and improve the existing technology with an aim to expand their customer base. Other players such as EBARA and ELGI also started to provide products at low prices, thus intensifying competition.
Owing to low production cost in Asian countries, manufacturers are investing in economies such as India and China. Increasing demand in emerging economies are proving new growth opportunities to introduce new products in the market. Other prominent vendors in this market include Chicago Pneumatic, Wuxi compressor, Siemens, Fusheng, Hitachi, General Electronics, Kaishan, Gardner Denver, Shanghai Feihe industrial group, Dresser rand, Yujin and Bauer Group.
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Graphene Nanoplatelets Industry Financial Performance, Product Benchmarking, Variables Forecast 2025
Global Graphene Nanoplatelets Market is expected to reach USD 206.0 million by 2025. Graphene Nanoplatelets are also termed as GNPs that comprise small stacks of graphene which can replace nano-clays, carbon fiber, carbon nanotubes, and others mainly in composite applications. The average thickness of platelets is 5 to 10 nanometers that can vary in size up to 50 microns. Due to their unique morphology and size, enhanced mechanical properties and advanced barrier properties can be achieved. The Graphene Nanoplatelets Market is estimated to grow at a significant CAGR of 37.6% over the future period as the scope and its applications are rising enormously across the globe.
Rising demand from energy & power and aerospace verticals, high demand from consumers for eco-friendly, effective, strong, and lightweight products, and rising use as a filler in polymer matrices are documented as major factors of Graphene Nanoplatelets industry that are estimated to enhance the growth in the years to come.In addition, it increases thermal & electrical conductivity and stability and reduces component mass while improving or maintaining properties are another factor that may boost overall market growth in coming years.
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Graphene Nanoplatelets Market is segmented based on applications and region. The market may be categorized based on applications like conductive inks & coatings, composites, energy & power, and others could be explored in Graphene Nanoplatelets in the coming years. Composites segment accounted for the largest market share of Graphene Nanoplatelets in terms of revenue and is estimated to lead the overall market in the coming years.
This may be because of its outstanding electrical, mechanical, and thermal properties and is exclusively used for fabrication of composites. Also, energy & power segment is estimated to grow at fastest pace in the coming years. Globally, North America accounted for the largest market share of Graphene Nanoplatelets and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key manufacturers like aircraft industries and high demand from industries like aerospace and automotive. The United States is a major consumer of Graphene Nanoplatelets in the region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.
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Europe is the third largest region with significant market share. This may be because of raised environmental sustainability by developing hybrid and electric vehicles. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise high demand for enhanced materials in the sectors like consumer electronics, automotive, energy storage, and aerospace. The developing countries like China, Japan, and India are the measure consumers of Graphene Nanoplatelets in the region.
The key players of Graphene Nanoplatelets Market are Group NanoXplore Inc., CVD Equipment Corporation, ACS Materials LLC, Angstron Materials Inc., and XG Sciences, Inc.These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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Computer Aided Engineering Market Competitive Landscape, Trends, Share By Region, Type From 2014-2025
The global Computer Aided Engineering (CAE) Market size was valued at USD 5.23 billion in 2015 and is projected to reach USD 12.8 billion by 2025. Global Computer Aided Engineering (CAE) market is expected to observe steady growth owing to increasing the need for collective product improvement. Computer-aided engineering application has the provision to undertake various tasks which include analysis, validation, simulation, and manufacturing of engineering goods. The convenience of worldwide licenses is expected to be a major driving factor for market growth over the forecast period. Global licenses help industry players to provide computer-aided engineering applications at a standardized fee. It also makes them easy to decide billing related to support and service offerings. Application of integrated CAE tools results in a reduction in product analysis time and product life cycle time. This helps in improving the overall efficiency.
Increasing usage of smartphones and tablets is expected to propel the market growth. The demand for CAE tools is expected to rise owing to its adoption in non-traditional fields including government institutions and consumer durables. Features including customer support, ownership cost, functionality, and quality of the CAE tools are expected to boost the industry growth. Machines have been rated out of data on account of rapid change in technology and new product. In order to achieve a competitive edge, market players are determined to make extensive investments in research and development. Cloud-based CAE solution provides great opportunities and is anticipated to boost the market growth over the forecast period. Open source CAE tools are mostly preferred by small and medium enterprises owing to huge investments for exclusive licenses.
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Cloud-based tools have enabled industries to enhance their market reach in small and medium sectors offering advantages including low operating costs, maintenance costs, and company mobility. Further, pay-per-use billing techniques are expected to leverage the CAE market growth over the forecast period.
Lack of technical proficiency and shortage of trained labour force is expected to hamper market growth over the forecast period. Organisations are expected to hesitate in making high investments for CAE licenses owing to the presence of open source solutions. Counterfeit software is a threat to the CAE market players. Extreme competition is expected to affect market players resulting in the reduction of profit margins and rise in operational expenditures. High maintenance and license costs offer challenges for overall market growth.
CAE market is segmented on the basis of product design which includes computational fluid dynamics (CFD) and finite element analysis (FEA). Finite element analysis finds its application in the assessment of given product design before its model is formed is done using finite element analysis. Computational fluid dynamics include analysis of engine movement, pressure measurement, and studying liquid and gases with various structures. CAE market is also segmented on the basis of end-user application which includes aerospace, defence, automobile, electronics, and industrial machinery. CAE tools have assisted organisations in aerospace and automobile sectors to develop safer product along with avoiding huge expenditures of developing prototype model.
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Asia Pacific leads the market and the trend is anticipated to continue owing to the presence of a large number of manufacturing industries adopting CAE tools. Regional demand is followed by North America and Europe on account of high concentration of automated manufacturing industries. Increasing adoption of CAE tools among SME is expected to drive the overall regional demand may drive the CAE market in Latin America. Africa has been witnessing a slow growth owing to the absence of advanced manufacturing processes.
Major players in the CAE market include Dassault, ANSYS, Siemens PLM Software, MSC Software, Altair Engineering, ESI Group, Mentor Graphics, Computational Engineering International, Bentley Systems, Exa Corporation, Numeca International, NEi Software and Flow Science. Merger and acquisition have been a common trend observed in recent years. Companies try to expand their geographical reach as well as product portfolio through these merger strategies. Organisations have been concentrating on research and development for continuous improvement of their products. This is very essential to make themselves compatible with the growing machine technology. In June 2015, ANSYS acquired Gear Design Solutions. The collaboration of technology of both these companies is expected to assist ANSYS in providing simulation structure to the electronic and semiconductor market.
Dassault entered into collaboration with Safran Group in June 2015 to develop competency in the virtual authentication of the chemical manufacturing process. Siemens PLM got hold of LMS International in December 2012 to enhance its industry software portfolio. In March 2015, Bentley System incorporated EADOC which offers manufacturing management cloud services to provide real-time control into a cost and enhanced information value. Bentley System also acquired Acute3D in February 2015 to increase its product portfolio. Similarly, Siemens PLM Software acquired Camstar to increase its product offering to cater to the needs of a completely integrated digital enterprise solution.
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Plate and Frame Heat Exchanger Industry Volume and  Revenue by Product, Application Forecast 2025
The global Plate and Frame Heat Exchanger Market size was estimated at USD 3.35 billion in 2014 and is projected to reach USD 5.99 billion by 2022. It is expected to experience a significant growth over the forecast period. This can be attributed to growing use in applications such as commercial, industrial and engineering sectors in addition to rising product utilization, especially in residential & commercial HVAC, automotive segments. The industry is identified by growing emphasis on enhanced efficiency standards together with technological improvements and new developments. These factors are expected to reduce total ownership expenses and improve durability & efficiency levels of heat exchangers over the next eight years. Need for power generation coupled with infrastructural expansions in the energy sector is expected to serve the growth over the next seven years.
Plate and frame heat exchanger industry is identified by a regular procurement of raw material supplies such as stainless steel, EPDM rubber and chloroprene rubber. However, chloroprene rubber in addition to stainless steel has fluctuating prices of raw materials that are expected to hamper market growth. Technological advancements and innovations in the gasket, frame and plate designs are anticipated to increase the heat transfer efficacy, reduce operating costs, maintenance costs and investment. The market is expected to be driven by new product development through the implementation of various technical innovations. In 2014, frame heat exchanger and gasket plate were the leading product segments capturing approximately 50.0% of the market revenue.
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Widespread application in power plants owing to compact size and lower maintenance has resulted in this high market penetration. It is widely used for cooling, heating, evaporation, condensation and heat recovery applications. The market is expected to have a positive impact on account of growing gasket heat exchanger demand, especially in petrochemical and power generation and automotive sector.
Increasing use in floor heating, economizers, refrigerant evaporators, oil coolers, condensers and super-coolers is expected to serve the brazed plate heat exchanger market significantly however, the market can face a few challenges with respect to competition from new market players thereby impacting the growth of plate heat exchanger industry from 2016 to 2024. Further, the conventional technology is being replaced with highly efficient substitutes which are expected to pose a major threat to market growth. On the other hand, welded plate heat exchanger is anticipated to experience high growth owing to its rising use in numerous industries such as petrochemical, automobile, paper manufacturing and pharmaceuticals on account of improved features in performance. In 2014, HVAC contributed to over 20.0% of the overall market and is anticipated to witness high growth in the next eight years. Asia Pacific is expected to fuel demand in the sector on account of growing construction projects in Asia Pacific over the review period.
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Rising need for efficient thermal management in commercial and residential establishments coupled with increasing consumer spending is anticipated to propel HVAC demand from 2016 to 2024. HVAC systems form a key segment under heat exchangers. Rising awareness concerning energy management and conservation and cutback in energy bills is expected to propel demand for the product in HVAC sector.
Chemical industry constituted for nearly 20% of plate and frame systems market revenue in 2014. Key products in chemical industry include inorganic chemicals, petrochemicals and fertilizers. Petrochemical derivatives such as ethylene, base chemicals and polymers and methanol involve crucial conditions that involve well-organized and efficient thermal management systems in the manufacturing units. Production capacity expansions and mergers and acquisitions of chemical facilities in Asia Pacific and Europe are anticipated to fuel chemical market from 2016 to 2024.
Europe emerged as the largest regional segment and is thereby expected to grow at an estimated CAGR exceeding 6.3% over the forecast period. However, high growth regions such as Asia Pacific and CSA regions may pose a threat to the European market and capture a part of the overall market share over the forecast period. Recent improvements in nuclear and renewable energy segments are projected to enhance requirements in the power generation segment in Europe. Additionally, the plate and frame heat exchanger demand is expected to be driven by growing need for heat recovery applications in HVAC, food and beverage and chemical sectors over the forecast period.
In 2014, Asia Pacific constituted for nearly 20% of the overall industry. Need for commercial and industrial establishments coupled with growing construction projects are likely to propel HVAC market in the region. It is anticipated to witness the fastest growth over the review period. Supportive government policies and initiatives in Japan and India as an effort to develop solar and thermal energy are estimated to drive market demand in power generation sector for heat exchangers. Key industry players include Alfa Laval AB, Danfoss A/S, Tranter Inc., GEA Group, SPX Corporation, LLC, AIC S.A., SGL Carbon Technic, API Heat Transfer, Guntner GmbH & Co. KG and Kelvion Holdings GmbH.
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Professional Service Automation Software Market Availability of Substitute Products, Applications By 2024
Industry Insights
The global Professional Service Automation (PSA) Software Market size was valued at USD 6.65 billion in 2015 and is expected to reach USD 14.39 billion by 2024. PSA solutions are used for refining operational visibility and process efficiency in services and project-driven organizations. The PSA market is projected to witness huge demand on account of changing the business model of enterprises over the forecast period.
Essential functions of PSA software characteristically comprises automated time & billing, project management capabilities, and resource management. These systems additionally provide powerful and consistent dashboards and reports offering management the crucial information they require making informed decisions. Some of the other advantages of PSA systems include project usefulness, better client satisfaction, enhanced estimating capability, as well as reduced revenue leakage. All the aforementioned advantages of PSA software are expected to boost demand amongst the service companies over the next eight years. Small and medium sized organizations bank on spreadsheets to capture expense, time and manage resources. SMBs lay emphasis on solutions which facilitate streamline and automation processes. Businesses using customary tools for commercial purposes, for instance, spreadsheets are likely to provide growth opportunities over the forecast period.
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This solution decreases complete administration expenditure as a result of the lesser manual, error-prone spreadsheets, and expensive data re-entry. Increasing IT budget of small and medium enterprises (SMEs) are predicted to drive market growth. Solution vendors have added features including opportunity and project management proficiencies for the sustenance of deal capture, project delivery, and resource scheduling. The major market players have incorporated functionalities such as graphical reporting, support for a range of mobile devices, dashboards, and assimilation with chief social channels to the prevailing solutions. This is expected to improve products and gain a competitive edge.
Application Insights
Technology companies held more than 40% of the overall income share in 2015 and it is also predicted to carry on their domination in terms of market size by 2024. This solution is utilized by legal firms, marketing firms, consulting firms, and communication industry. Rising attractiveness of these tools amongst marketing and communication companies is projected to increase implementation over the next eight years. The growing reputation of social media and digital marketing is also forecasted to fuel marketing & communications business in the future.
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Deployment Insights
There exist two methods for deployment used by the market participants who include cloud and on-premise. Of these, cloud-based solutions hold the chief share in the market, whereas, on-premise solutions are predicted to lose their revenue share over the next eight years on account of the need for low costs of investments. However, rigid regulations by the government for protecting the information stored on the cloud are anticipated to hamper its growth over the forecast period.
Regional Insights
Europe and North America are projected to be the foremost regions in the global PSA software market over the next eight years as a result of the early adoption of software. In 2015, the Asia-Pacific market for PSA software accounted for more than 18% of the global revenue. It is also projected to grow at a CAGR of over 10% from 2016 to 2024. Growing implementation of these solutions by SMEs is forecasted to boost the regional growth over the forecast period.
Competitive Market Share Insights
The prominent players in the global PSA software market include ChangePoint, FinancialForce.com, NetSuite OpenAir, Tenrox, Autotask Corporation, Clarizen, Panview, Deltek, Inc., Appirio, Inc., ConnectWise, Microsoft Corporation, Projector PSA, Compuware Corporation, and Oracle. Companies such as ConnectWise, Harmany PSA, and Autotask Corporation source their product offerings to fulfill the requirements of Managed Service Providers (MSPs). Moreover, several new players are anticipated to foray into this space in the near future. The most efficient initiatives adopted by the key industry players to improve their technological proficiencies as well as gain quick access to the emerging markets include strategic mergers & acquisitions and partnerships.
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Next Generation Sequencing Industry Share of Top 3 Manufacturers, Mergers & Acquisitions Till 2025
The global Next Generation Sequencing Market is anticipated to reach USD 21.4 billion by 2025. NGS market is expected to show a tremendous growth on account of its wide applications in the treatment of cancer. NGS is the process of identifying accurate order of nucleotides within a RNA or a DNA molecule. Advancement of NGS has helped biological and medical discovery and research. It has helped in various applied fields which includes biotechnology, forensic research, virology and medical diagnosis. NGS has made possible sequencing of DNA of various species including the human genome.
Introduction of advanced genetic sequencing and development of advance techniques for whole genomes are the major drivers contributing to the overall market growth. Increasing incidences of cancer and infectious diseases coupled with aging population is expected to fuel the demand for these technologies. Further, the overall cost of genome sequencing is expected to reduce drastically on account of rapid development through research and innovation. High capacity genome sequencing has been contributing significantly towards the market growth.
NGS has wide applications in the field of exome and genome sequencing. They are widely used in the treatment of infectious disease and cancer. NGS has shown a key presence in pathogen analysis which has been helpful in the treatment of infectious diseases. The need for effective diagnosis for cancer and high growing usage of combinational biomarkers are other factors contributing to the growth of the market in recent years.
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NGS has been mostly a topic of research and development in the previous decade. At present they find applications in the field of oncology, prenatal testing, HLA testing, idiopathic diseases, and medical research. Research and development in the field of HLA and prenatal testing have provided new avenues to doctors in gaining insights during organ matching and organ rejection.
The development in the treatment of genetic anomalies and diseases with the help of prenatal genome sequencing has been driving the NGS market. This technology has also helped the pharmaceutical companies in developing essential drugs for the treatment of cancer and infectious diseases. Growing concerns and increasing incidences of cancer is expected to be the major driving factor for the development of NGS.
NGS in the field of organ transplant provides great opportunities over the forecast period. It is important that the characteristics of both the donors and the acceptors match for a successful transplant. NGS helps in studying the immune response to the transplanted organ. Medical tourism development in countries including the U.S, Israel, Singapore and Australia provide bright prospects for overall growth of the market.
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Next generation sequencing market is segmented as target, genome, exon and resequencing. The largest share is held by target sequencing followed by genome sequencing. Development of whole genome sequencing capabilities is expected to show a significant growth over the forecast period. Whole genome technology is relatively new and is gaining popularity with the development of high throughput. This high throughput has helped in reducing complications associated with whole genome sequencing.
NGS includes sample enrichment, DNA tagging, library preparation, sample quality assurance, DNA quantification, data storage, genetic data assembly, analysis and interpretation. With the increase in volume of whole genome sequencing, next generation data analysis is expected to observe a significant growth over the forecast period.
Government regulatory bodies play a vital role in overall development and usage of these technologies. Medical device manufacturers in the U.S. are under the strict vigilance of Food and Drug Administration (FDA). In 2013, FDA approved four next generation gene sequencing devices which is expected to help physicians in taking a broader look at the patient’s genetic makeup. Two of the approved devices is expected to help in detecting DNA changes in the treatment of cystic fibrosis.
North America is expected to observe highest demand in the global industry on account of the well-developed healthcare sector and implementation of advanced research infrastructure. Similarly, Western Europe is expected to show a substantial demand over the forecast period on account of increasing emphasis by the regional government on healthcare facilities coupled with the stringent regulatory framework. Asia Pacific and the Middle East are expected to observe significant growth on account of the increasing government initiatives to establish proper healthcare infrastructure in developing economies including China, India, Japan and UAE.
The NGS market is dominated by few players with the help of proprietary platforms. The key industry players include Life Sciences (Roche), Thermo Fischer Scientific, Illumina and Pacific Biosciences. Other major players operating in the market include Partek Inc., Genomatix Software GmbH, Macrogen Inc., Life Technologies Corp, Perkin Elmer inc., Oxford Nanopore Technologies Ltd., Knome Inc, Agilent Technologies Inc., Biomatters Ltd., CLC Bio (Qiagen), Pacific Biosciences, BGI (Beijing Genomics Institute), DNASTAR Inc, GATC Biotech and Qiagen N.V.
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Hospital Information Systems Market Overview and Scope, Product Category From 2013-2025
The global Hospital Information Systems (HIS) Market is expected to be valued at USD 39.7 billion by 2025. Hospital information system market demand is expected to be high over the forecast period on account of increasing patient traffic. The need to integrate data of a single patient from all the departments in a hospital is anticipated to propel the overall industry growth.  Hospital information system (HIS) is designed to fulfill the administrational needs of medical centers. It involves the integration of multiple divisions in order to manage the administration on a real time basis. Various sections of a medical center which include laboratories, finance departments, and general administration are integrated through enterprise architecture. It also helps the physicians in tracking a patients’ past record and progress in the treatment.
The increase in patient flow is the major factor driving the overall market. Increasing disease incidence has created the need to establish a sophisticated data base for patient tracking. A patient undergoes multiple therapies, treatments, and diagnosis. A Physician needs to collate all the information for further diagnosis. This need drives the demand for information system with integration of multiple wings within an organization. Such systems also help physicians to track patients past history. Accounting is another factor which propels the demand for hospital information system. Bills from various departments are consolidated into one and therefore leading to customer satisfaction. Medical institutions have been able to process the overall cash flows at a centralized level with precision and without any delays. Such centralized cash flow management reduces the possibilities of fraud and financial data fabrication.
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HIS has helped to fasten the administrative process with high accuracy which includes placing orders, bookings and payment. Moreover, these applications have significantly contributed to increase overall accuracy, response time and efficiency which in turn is expected to drive its demand over the forecast period. Electronic record keeping has boosted the demand for HIS implementations. They provide a common source for patient’s health history. Doctors can easily access patient’s information, laboratory results and previous prescriptions.
These information applications are efficient in crowd control. Tracking the patient flow has been easy, leading to a planned scheduling of appointments and bed occupancy. This has resulted in avoiding time delays and long queues. Therefore, healthcare organizations with large inflow of patients are expected to find major applications for crowd management. Growing medical insurance industry is expected to further drive the demand for patient records in healthcare. Insurance agencies are expected to find these applications useful in tracking a patient’s history and avoiding fraud. Absence of well-established I.T arrangement is expected to pull down the overall system growth as launching these applications requires highly proficient I.T systems and maintenance. Moreover, these applications are high in cost and require regular updates and maintenance.
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Mindset change is another reason which is expected to restrain global industry growth in the future. Some organizations are expected to hesitate in implementing new technologies and stick with their old systems which are cost effective and well adopted by their employees. Healthcare facilities who seek for a fully integrated business solution provide great opportunities for market growth in near future. There is a need to establish proper sales channel so that the vendors ensure efficient technologies are integrated into their solutions.
Rise in medical informatics is expected to propel the growth of overall industry. Data collected through these application suites is used to study the recent trends and patient behavior. This source of data provides meaningful insights for capacity planning. Hospitals tend to use this information for their expansion programs and demand forecasting. The HIS architecture is segmented on the basis of specialized implementations which includes clinical information system, laboratory information system, procedure management, radiology information, and picture archiving & communication.
North America is expected to observe highest demand in the global industry on account of the well-developed healthcare sector and implementation of advanced IT infrastructure. Similarly, Western Europe is expected to show a substantial demand over the forecast period on account of increasing emphasis by the regional government on healthcare facilities coupled with the stringent regulatory framework. Asia Pacific and the Middle East are expected to observe significant growth on account of the increasing government initiatives to establish proper healthcare infrastructure in developing economies including China, India, Japan and UAE.
Key players operating in the market are SAP, Philips, Infosys, Wipro, TCS, Meditech, Mckesson Corporation, Epic systems, Allscripts, and Cerner Corporations. Vendors focus on providing complete IT enabled services which consist of HIS. This helps the vendors to reduce costs and also aid in the maintenance process. After sales service plays a vital role in establishing strong relations with the customer. Break down of these applications result in loss of information and disturbance in services. In February 2015, Cerner Corporations successfully acquired Hospital IT solutions business unit of Siemens for USD 1.3 billion. The acquisition is expected to help Cerner develop efficient business solutions especially in the field of electronic record keeping.
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