Revenue Cycle Management Market Size Is Anticipated To Reach $633.6 Billion by 2028

 

Revenue Cycle Management Market Growth & Trends

The global revenue cycle management market size is projected to reach USD 633.6 billion by 2028, according to a new report by Grand View Research, Inc. This market is expected to expand at a CAGR of 11.5% from 2021 to 2028. Increasing technological advancements and rising adoption of revenue cycle management (RCM) tools by various healthcare providers and others have led to development and upgradation of solutions provided by key players are the major factors driving the market.

The integrated type emerged as the largest segment and accounted for significant revenue share of 69.6% in 2020. Integrated solutions provide a coordinated and streamlined format of a variety of financial activities via a single platform, which results in a uniform process of data collection and analysis. Hence, rising adoption of integrated systems is likely to fuel the growth during the forecast period.

Based on product, the software segment is predicted to account for the largest market share valued at USD 159.9 billion in 2020. The growth of the segment is owing to rising adoption and penetration of software-based solutions in the revenue cycle management sector. On the other hand, the service segment is projected to be the fastest-growing segment over the forecast period, owing to the demand of outsourcing services due to the sudden outbreak of the COVID-19 pandemic.

On the basis of delivery mode, the web-based segment dominated the market with the highest revenue share in 2020. Key factors responsible for the augmenting growth are rising installation of integrated solutions, and enhanced accessibility. On the other hand, the cloud-based segment is expected to witness the fastest CAGR over the forecast period.

North America dominated the market in 2020 with the highest revenue share of 52.6%. Strong healthcare infrastructure, government initiatives boosting adoption of RCM solutions, and rising consolidation between vendors offering RCM solutions are some of the major factors driving the demand of RCM tools and services in this region. On the other hand, Asia Pacific is anticipated to be the fastest-growing region during the forecast period. Fast growing economies like South Korea, Singapore, and Australia are investing in RCM healthcare solutions to improve the billing procedures and claim settlements in rural areas which is expected to surge the growth of the RCM services in the region over the forecast period.

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Revenue Cycle Management Market Report Highlights

• The market was valued at USD 261.8 Billion in 2020 and is anticipated to witness a CAGR of 11.5% over the forecast period
• The software segment accounted for the largest revenue share valued at USD 159.9 billion in 2020 owing to the growing market penetration of software-based solutions in the RCM sector
• In 2020, integrated segment accounted for the largest revenue share of 69.6% owing to the rising need to improve the efficiency of healthcare systems and curtail healthcare costs
• The web-based delivery mode segment dominated the market in 2020 in terms of revenue share

Revenue Cycle Management (RCM) Market Segmentation

Grand View Research has segmented the global revenue cycle management market based on product, type, delivery mode, end-use, and region:

RCM Product Outlook (Revenue, USD Million, 2016 - 2028)

• Software
• Services

RCM Type Outlook (Revenue, USD Million, 2016 - 2028)

• Integrated
• Standalone

RCM Delivery Mode Outlook (Revenue, USD Million, 2016 - 2028)

• On-premise
• Web-based
• Cloud based

RCM End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Physician Offices
• Hospitals
• Diagnostic Laboratories
• Others

RCM Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Singapore
  • South Korea
  • Australia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Revenue Cycle Management (RCM) Market

• The SSI Group, Inc.
• AllScripts Healthcare, LLC
• Experian Health, R1 RCM Inc.
• McKesson Corporation
• athenahealth, Inc.
• Epic Systems Corporation
• NXGN Management, LLC
• CareCloud Corporation
• Quest Diagnostics, Inc.
• R1 RCM Inc.

Access Press Release of Revenue Cycle Management Market @ https://www.grandviewresearch.com/press-release/global-revenue-cycle-management-rcm-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Waterproofing Membranes Market Exhibit a Steady 7.5% CAGR through 2028: Grand View Research Inc.

Waterproofing Membranes Market Growth & Trends

The global waterproofing membranes market size is expected to reach USD 37.18 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.5% from 2021 to 2028. The growing advancement in infrastructure and construction activities, coupled with a rise in demand for wastewater and water management, is expected to drive the market.

Adoption of wastewater techniques for water conservation and reuse is increasing owing to the rising demand for portable water resources across the globe. In addition, increasing government support to promote and adopt a wide array of waste management and water treatment initiatives is expected to boost the demand for the product during the forecast period.

Biomembranes are expected to witness a high adoption trend in the coming future owing to the increasing product demand in green building construction. In addition, government support to replace old buildings with new ones is opening new growth avenues for the construction industry, in turn, adding growth to the overall market.

The market is highly dependent upon the dynamics of the raw material supply chain. Although all types of products including cementitious, bituminous, and polyurethane are used for manufacturing waterproofing membranes, cementitious liquid applied membrane and bituminous sheet membranes are the most commonly used waterproofing membranes in the market.

The industry exhibits several mature players controlling a significant market share. However, increasing competition from a large number of small and local manufacturers from the Asia Pacific region is expected to boost the market competition. The market players put high stress on using sustainable raw materials to ensure an environmentally friendly image to their clients.

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Waterproofing Membranes Market Report Highlights

• By product, liquid applied membranes are expected to register the fastest revenue-based CAGR from 2021 to 2028 on account of their thermal-reflective properties for any exterior surface application
• Polyurethane liquid applied waterproofing membranes are expected to expand at the fastest revenue-based CAGR of 9.5% during the forecast period owing to seamless finish and easy and fast installation procedure
• The roofing application segment accounted for the largest revenue share of over 31.0% in 2020 owing to its high exposure to changing climatic conditions and leakages across residential, commercial, and industrial buildings
• Asia Pacific is projected to register the fastest CAGR in terms of revenue owing to increasing investment in residential and commercial construction due to rapid industrialization and the growing population
• The majority of the manufacturers have started emphasizing the use of sustainable and corrosive protective raw materials for producing waterproofing membranes to increase their market presence. In addition, growing infrastructure in the developing markets of China, India, and Brazil is adding rapid growth to the construction sector, thereby offering growth prospects to the market

Waterproofing Membranes Market Segmentation

Grand View Research has segmented the global waterproofing membranes market on the basis of product, application, and region:

Waterproofing Membrane Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• Liquid Applied Membranes
  • Cementitious
  • Bituminous
  • Polyurethane
  • Acrylic
  • Others
• Sheet Membranes
  • Bituminous
  • Polyvinyl Chloride (PVC)
  • Ethylene Propylene Diene Monomer (EPDM)
  • Others

Waterproofing Membrane Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• Roofing
• Walls
• Building Structures
• Landfills & Tunnels
• Others

Waterproofing Membrane Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa

List of Key Players of Waterproofing Membranes Market

• BASF SE
• Kemper System America, Inc.
• GAF Materials Corporation
• Paul Bauder GmbH & Co. KG
• CICO Technologies Ltd.
• Fosroc Ltd.
• DuPont

Access Press Release of Waterproofing Membranes Market@ https://www.grandviewresearch.com/press-release/waterproofing-membranes-market

About Grand View ResearchGrand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Defibrillator Market Projected to Discern Stable Expansion by 2028

 Defibrillator Market Growth & Trends

The global defibrillator market size is expected to reach USD 22.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. Factors contributing to the growth of this market include supportive legislative reforms, rising incidences of sudden cardiac arrests in the region, presence of integrated technology, and rising awareness for cardiac conditions. Moreover, the COVID 19 pandemic further accentuated the need for defibrillators as many elderly patients suffering from COVID-19, suffered from sudden cardiac arrests, and the device was useful for the resuscitation of such patients.

The rising demand for handling sudden cardiac arrests is leading to innovation in implantable as well as external defibrillators. Innovation with regards to implantable devices includes subcutaneous and transvenous devices, that aim to increase the comfort level of patients. Swedish Transport Agency ran a program in 2017 under the test phase, which aimed to deliver AEDs using a drone. This may reduce the delivery time of an AED, increasing the chances of survival with faster treatment. Therefore, the market is anticipated to grow because of technological advancements and product delivery innovations.

Major market players are focused on launching technologically advanced products to enhance their presence. For instance, in July 2020, Zoll Medical Corporation launched a new remote view technology feature on its X Series monitor/defibrillator. This enhanced the existing product portfolio.

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Defibrillator Market Report Highlights

• The implantable cardioverter defibrillator segment dominated the market in terms of revenue share in 2020 and is projected to witness a CAGR of over 7.2% from 2021 to 2028. Technological advancements by market players are expected to drive segment growth
• North America held the largest revenue share in 2020, due to the supportive healthcare infrastructure and deeper penetration of the technologically advanced devices
• The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge
• The hospital segment held the largest revenue share of more than 91.0% in 2020 owing to the high patient footfall for treatment of their cardiovascular ailments
• In Asia Pacific, the market is anticipated to witness a CAGR of around 8.1% owing to the presence of emerging economies such as China and India and increasing healthcare expenditure
• In January 2020, Medtronic received the CE mark for its Crome and Cobalt portfolio of defibrillators. This significantly enhanced the company’s cardiac solutions offerings and allowed it to commercialize the products in the market

Defibrillator Market Segmentation

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

Defibrillators Product Outlook (Revenue, USD Million, 2016 - 2028)

• Implantable Cardioverter Defibrillator
  • S-ICD
  • T-ICD
    • Single Chamber
    • Dual Chamber
    • CRT-D
  • External Defibrillator
    • Manual ED
    • Automated ED
    • Wearable Cardioverter Defibrillators

Defibrillators End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospital
• Pre Hospital
• Public Access market
• Alternate Care market
• Home Healthcare

Defibrillators Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Defibrillator Market

• Medtronic
• Abbott
• Boston Scientific Corporation
• Stryker
• Koninklijke Philips N.V.
• Zoll Medical Corporation
• Biotronik, Inc.
• Nihon Kohden Corporation
• Progetti Srl, Schiller
• MS Westfalia GmbH
• AMI Italia
• Axion Ltd
• Bexen Cardio

Access Press Release of Defibrillator Market@ https://www.grandviewresearch.com/press-release/global-defibrillators-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Home Infusion Therapy Market Poised to Expand at a Robust Pace Over 2028: Grand View Research Inc.

 Home Infusion Therapy Market Growth & Trends

The global home infusion therapy market size is expected to reach USD 44.7 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% from 2021 to 2028. Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biological products to an individual at home. Favorable government policies and regulations are expected to propel market growth. In February 2018, the Bipartisan Budget Act of 2018 was signed into a law that states that all temporary payments of home infusion therapy in the U.S. will be covered by the government in accordance with this regulation.

In addition, the rising prevalence of chronic diseases, such as cardiovascular diseases (CVDs), cancer, diabetes, and other life-threatening conditions, is expected to have a high impact on market growth. According to a report by the WHO, the above-mentioned diseases accounted for 60.0% of the total deaths and 43.0% of the disease burden in the U.S. in 2019. This creates the need to infuse nutritional products that contain glutamine, phospholipids, glucose, and amino acids while administering medication to patients, which, in turn, is expected to boost the market growth.

The ongoing COVID-19 pandemic is expected to create lucrative opportunities for the market. Due to restrictions caused by COVID-19, patients are waiting to seek treatment until they feel safe. Moreover, patients who seek infusion therapy already have diseases that weaken their immune systems. In such cases, going outside even to receive treatment becomes a potential threat. Reduced operating hours have led to difficulty in scheduling appointments as well, even if patients choose to continue treatment. Hence, home infusion therapy is expected to play a key role in supporting patients.

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Home Infusion Therapy Market Report Highlights

• By product, the infusion pumps segment held the largest revenue share in 2020 owing to the increasing use of delivery fluids, such as nutrients and medications
• The anti-infective application segment dominated the market in 2020 as a large number of procedures are performed during the administration of medications, such as antibiotics and antifungals
• North America dominated the global market in 2020 owing to increasing demand for new technologies, along with advanced healthcare infrastructure
• The Asia Pacific market is projected to witness the fastest growth over the forecast period owing to the increasing number of diabetic patients in the region

Home Infusion Therapy Market Segmentation

Grand View Research has segmented the global home infusion therapy market on the basis of product, application, and region:

Home Infusion Therapy Product Outlook (Revenue, USD Million, 2016 - 2028)

• Infusion Pumps
  • Elastomeric Pumps
  • Electromechanical
  • Gravity
  • Others
• Intravenous Sets
• IV Cannulas
• Needleless Connectors

Home Infusion Therapy Application Outlook (Revenue, USD Million, 2016 - 2028)

• Anti-infective
• Endocrinology
  • Diabetes
  • Others
• Hydration Therapy
  • Athletes
  • Others
• Chemotherapy
• Enteral Nutrition
• Parenteral Nutrition
• Specialty Pharmaceuticals
• Others

Home Infusion Therapy Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Spain
  • Italy
  • Netherlands
  • Belgium
  • Switzerland
  • Russia
  • Sweden
• Asia Pacific
  • India
  • Japan
  • China
  • Australia
  • South Korea
  • Malaysia
  • Indonesia
  • Singapore
  • Philippines
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Egypt

List of Key Players of Home Infusion Therapy Market

• CVS/Coram
• Option Care Health
• BriovaRx/Diplomat (UnitedHealth Optum)
• PharMerica
• Fresenius Kabi
• ICU Medical, Inc.
• Braun Melsungen AG
• Baxter
• BD
• Caesarea Medical Electronics
• Smiths Medical
• Terumo Corporation
• JMS Co. Ltd.

Access Press Release of Home Infusion Therapy Market@ https://www.grandviewresearch.com/press-release/global-home-infusion-therapy-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Wearable Medical Devices Market to Register Stable Expansion During 2021 – 2028

 Wearable Medical Devices Market Growth & Trends

The global wearable medical devices market size is expected to reach USD 111.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 26.8% from 2021 to 2028. Rising demand for hi-tech products and continuous health monitoring is fueling market growth.

Increasing obesity rate coupled with rising awareness about physical fitness is encouraging people to go for workouts and adopt other fitness-related activities. Wearable devices such as smart bands and smartwatches help in monitoring fitness parameters consisting of calories burned, footstep count, heart rate and distance covered. Moreover, these wearable devices companies offer guidance from experts who are certified dietician or nutrition, and hence, this business model is also generating hefty demand for these ancillary products and services.

Companies such as Google, Fitbit, Apple, and Nike are working towards the launch of new innovative products that are anticipated to boost market growth over the forecast period, thus portraying a high growth rate. Smart watches and wristbands are the current focal point of product development and innovation, leading to abundant availability of such instruments. For instance, HealthPatch, a product of Vital Connect, was launched in March 2014. The product is an adhesive patch that can be placed anywhere on the chest and is used to regulate biometrics such as heart rate, skin temperature, body posture, and activities like steps walked.

The COVID-19 pandemic somehow has a positive impact on the market owing to increasing demand for telemedicine. As per the WHO guidelines people should follow social distancing and avoid public gathering. Hence due to this reason various physicians are preferring telemedicine route so that they can treat patients from distance without spreading the virus. Growth of telemedicine and expansion of applications to Integrate artificial intelligence (AI) in its systems has led to market growth.

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Wearable Medical Devices Market Report Highlights

• The diagnostic devices segment dominated the market in 2020 owing to the increasing disposable income and awareness, and higher healthcare spending
• The strap/clip/bracelet segment dominated the market in 2020 and is expected to continue its dominance over the forecast period
• Home healthcare held a significant share of 54.0% in 2020 owing to the growing base of geriatric population triggering incidence rates of target diseases
• North America is projected to command for a cumulative share in 2020 due to the increasing application of home care and remote patient monitoring for the purpose of regular, continuous, and long-term monitoring of patients
• Asia Pacific is expected to witness the fastest growth rate over the forecast period. This growth can be attributed to the growing awareness level, increasing disposable income, presence of a large population base and rising incidence rate of chronic conditions

Wearable Medical Devices Market Segmentation

Grand View Research has segmented the global wearable medical devices market based on product, site, application, and region:

Wearable Medical Devices Product Outlook (Revenue, USD Billion, 2016 - 2028)

• Diagnostic Devices
  • Vital Sign Monitoring Devices
    • Heart Rate Monitors
    • Activity Monitors
    • Electrocardiographs
    • Pulse Oximeters
    • Spirometers
    • Blood Pressure Monitors
    • Others
  • Sleep Monitoring Devices
    • Sleep trackers
    • Wrist Actigraphs
    • Polysomnographs
    • Others
  • Electrocardiographs Fetal And Obstetric Devices
  • Neuromonitoring Devices
    • Electroencephalographs
    • Electromyographs
    • Others
  • Therapeutic Devices
    • Pain Management
      • Neurostimulation
      • Others
    • Insulin/Glucose Monitoring
      • Insulin Pumps
      • Others
    • Rehabilitation
      • Accelometers
      • Sensing
      • Ultrasound Platform
      • Others
    • Respiratory Therapy
      • Ventilators
      • Positive Airway Pressure (PAP) Devices
      • Portable Oxygen Concentrators
      • Others

Wearable Medical Devices Site Outlook (Revenue, USD Billion, 2016 - 2028)

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

Wearable Medical Devices Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Sports And Fitness
• Remote Patient Monitoring
• Home Healthcare

Wearable Medical Devices Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • France
  • Germany
  • UK.
  • Italy
  • Spain
  • Sweden
  • Russia
  • Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Singapore
  • Thailand
  • Philippines
  • Malaysia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Wearable Medical Devices Market

• Philips Electronics
• Fitbit
• Basis Science
• Garmin
• Covidien
• Omron Corp.
• Withings
• Vital Connect
• Polar Electro
• Intelesens
• Everist Genomics
• Intelesens
• Sotera Wireless

Access Press Release of Wearable Medical Devices Market @ https://www.grandviewresearch.com/press-release/global-wearable-medical-device-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Biotechnology Market to Rise at 15.83% CAGR from 2021 to 2028: Grand View Research Inc.

 

Biotechnology Market Growth & Trends

The global biotechnology market size is expected to reach USD 2.44 trillion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 15.83% from 2021 to 2028. The factors driving the market include favorable government policies, the launch of new and advanced products, robust investment in the biotechnology sector, and rising demand for synthetic biology.

Robust funding through alliance investment in start-up biotechnology companies for adopting new and advanced products is contributing to market growth. For instance, in February 2021, Illumina, Inc. invested in nine new genomics companies through Illumina Accelerator in 4 start-ups in the U.K. and 5 start-ups in the U.S. The companies include MultiplAI Health LTD.; BiotaX Labs LTD.; Mitra Bio Limited; Broken String Biosciences Limited; Flightpath Biosciences, Inc.; Doloromics Inc.; Oshun Medical Inc.; Parallel Health Inc.; and Rubik Therapeutics, Inc. Illumina Accelerator is an initiative through which selected startups can access to seed investment, genomics expertise, and Illumina sequencing systems and reagents and seek business guidance.

The bioinformatics application segment is expected to expand at the fastest CAGR from 2021 to 2028 owing to the increasing adoption of these tools for analyzing complex sequencing data. By technology, nanobiotechnology is expected to expand at a lucrative growth rate of 16.8% over the forecast period owing to the growing focus on nanotechnologies for efficient drug delivery and increasing research using this technology.

Supportive government initiatives are significantly contributing to market growth. For instance, in September 2020, the Government of India supported research institutes in agriculture biotechnology, including organic farming. Since the last 3 years, around USD 42.67 million had been invested to support this endeavor.

Moreover, the emergence of the SARS-COV-2 infection is driving the market. Companies are developing new solutions for combating the pandemic situation. For instance, in December 2020, Thermo Fisher Scientific Inc. announced CE-marking for TaqPath COVID-19 that can be used to perform in-vitro diagnosis of SARS-CoV-2, respiratory syncytial virus (RSV) A/B, and influenza A/B infections. The new kit will help in the detection and differentiation between diseases that have similar clinical symptoms.

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Biotechnology Market Report Highlights

• The health application segment accounted for the largest share of 48.64% in 2020 owing to the COVID-19 impact, prevalence of diseases, increasing focus on the development of regenerative medicines, and improving healthcare infrastructure
• The DNA sequencing technology segment held the second-largest share in 2020 owing to its growing penetration in the development of precision medicines
• North America held the largest share of 44.19% in 2020. Companies operating in the region are launching advanced solutions to cater to the needs of the biotechnology industry
• For instance, in February 2021, Waters Corporation launched Waters ACQUITY PREMIER Solution. It is a next-generation liquid chromatography solution for improving analytical data quality
• Asia Pacific is expected to expand at the fastest CAGR of 16.8% from 2021 to 2028 owing to favorable government initiatives and changes in drug approval regulations in India and China

Biotechnology Market Segmentation

Grand View Research has segmented the global biotechnology market on the basis of technology, application, and region:

Biotechnology Technology Outlook (Revenue, USD Billion, 2017 - 2028)

• Nanobiotechnology
• Tissue Engineering And Regeneration
• DNA Sequencing
• Cell-based Assays
• Fermentation
• PCR Technology
• Chromatography
• Others

Biotechnology Application Outlook (Revenue, USD Billion, 2017 - 2028)

• Health
• Food & Agriculture
• Natural Resources & Environment
• Industrial Processing
• Bioinformatics
• Others

Biotechnology Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • Spain
  • France
  • Italy
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia

List of Key Players of Biotechnology Market

• AstraZeneca
• Gilead Sciences, Inc.  
• CELGENE CORPORATION
• Biogen
• Abbott
• Amgen Inc.
• Novo Nordisk A/S
• Merck & Co.
• Johnson & Johnson Services, Inc.
• Novartis AG
• Sanofi
• Hoffmann-La Roche Ltd.
• Pfizer, Inc.
• Lonza

Access Press Release of Biotechnology Market@ https://www.grandviewresearch.com/press-release/global-biotechnology-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Bottled Water Market to Reflect Robust Expansion During 2021-2028: Grand View Research Inc.

 Bottled Water Market Growth & Trends

The global bottled water market size is expected to reach USD 505.19 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.1% from 2021 to 2028. The growing awareness regarding the adverse health effects of consuming sugary drinks, such as weight gain, obesity, diabetes, and heart disease, is supporting the consumption of alternative beverages, such as still and sparkling water.

The growth of the market is primarily attributed to rising awareness regarding the importance of hydration. According to a study conducted by the International Bottled Water Association in 2018, it was revealed that 93% of American citizens want bottled water to be sold in most stores selling beverages. A substantial part of the population prefers to quench their thirst using bottled water over other beverages.

Increasing preference for nutrient-fortified water is trending owing to the rising importance of health and wellness among buyers. The water demand has been increasing among travelers, working professionals, and for use in households.

COVID-19 has impacted the market for bottled water as many quick-service restaurants have been witnessing a significant drop in their sales. For instance, according to a blog post by CNBC LLC, McDonald’s had witnessed a decline of 22% in March compared to the previous month. COVID-19 compelled the company to shut down its dining rooms.

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Bottled Water Market Report Highlights

• The inclination toward packaged water rather than ordinary water, particularly among younger consumers, drives product sales. Observing this trend, several restaurants are providing bottled water to meet consumer demand
• The purified water segment held the largest share of more than 35.0% in 2020. According to a United Nations study published in 2018, there are almost 16,000 desalination plants across 177 countries that provide purified water
• The sparkling water segment is anticipated to be the fastest-growing segment with a CAGR of 11.7% from 2021 to 2028. Sparkling water is also marketed as sparkling drinking water or sparkling mineral water. Water that contains the same amount of carbon dioxide as its source post-treatment is defined as sparkling water
• Asia Pacific held the largest market share in 2020 and is expected to maintain its lead throughout the forecast period. The regional market is mainly driven by the growing preference for bottled water owing to rising health issues caused by the consumption of contaminated water in countries, including China and India

Bottled Water Market Segmentation

Grand View Research has segmented the global bottled water market on the basis of product and region:

Bottled Water Product Outlook (Revenue, USD Million, 2016 - 2028)

• Spring
• Purified
• Mineral
• Distilled
• Sparkling
• Others

Bottled Water Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
• Europe
  • Germany
  • France
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Bottled Water Market

• Nestlé SA
• PepsiCo
• The Coca-Cola Company
• DANONE
• Primo Water Corporation
• FIJI Water Company LLC.
• Gerolsteiner Brunnen GmbH & Co. KG
• VOSS WATER
• Nongfu Spring
• Rhodius Mineralquellen Und Getranke GmbH & Co KG

Access Press Release of Bottled Water Market@ https://www.grandviewresearch.com/press-release/global-bottled-water-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Tobacco Market Poised to Expand at a Robust Pace of USD 1,073.79 Billion Over 2028: Grand View Research Inc.

 Tobacco Market Growth & Trends

The global tobacco market size is expected to reach USD 1,073.79 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 1.8% from 2021 to 2028. The shifting preference among youngsters and the working-class population toward tobacco products, including cigars and next-generation products, is crucial for the market growth. Moreover, growing student spending on tobacco products across the globe is expected to offer new avenues for the growth of the market over the forecast period.

The popularity of products, such as cigarettes and cigars and cigarillos, is increasing significantly in the U.S. For instance, according to the Centers for Disease Control and Prevention, the use of tobacco and related products among the U.S. youth is growing at a steady rate. About 1 in 4 school students and 1 in 14 high school students consumed tobacco-containing products in 2018.

The consumption of tobacco products and hand-rolled cigarettes is also increasing among females in the U.S. For instance, according to the Centers for Disease Control and Prevention, in 2018, about 13.7% (nearly 34.2 million people) of the total U.S. population smoked cigarettes. Moreover, approximately 12% of the total U.S. female population aged 18 years or above, smoked cigarettes. This factor is boosting the demand for tobacco and related products in the country.

Tobacco, especially cigarette smoking, has also been increasing among women in European countries. In developed countries, tobacco usage was initially confined to men; however, tobacco usage rates among men are declining, whereas the consumption rates among women are increasing. Smoking rates among women in many European countries are close to 30–40%.

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Tobacco Market Report Highlights

• By product, the cigarettes segment held the largest share of more than 75.0% in 2020. Easy access to cigarettes at economical prices among the consumers through retail shops is expected to drive this product segment in the near future
• The next-generation products segment is anticipated to be the fastest-growing segment with a CAGR of 2.8% from 2021 to 2028. The growing acceptance of next-generation products, including e-cigarettes, in developed economies of North America and Europe, is expected to remain a favorable factor for the segment growth
• The Middle East and Africa is anticipated to be the fastest-growing regional market with a CAGR of 3.0% from 2021 to 2028, owing to the increasing demand for premium and next-generation tobacco products with enhanced flavors

Tobacco Market Segmentation

Grand View Research has segmented the global tobacco market on the basis of product and region:

Tobacco Product Outlook (Revenue, USD Billion, 2016 - 2028)

• Smokeless
• Cigarettes
• Cigar & Cigarillos
• Next Generation Products
• Waterpipes
• Others

Tobacco Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
• Europe
  • Turkey
  • Russia
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa
  • Egypt

List of Key Players of Tobacco Market

• Pyxus International, Inc.
• Swedish Match AB
• Altria Group, Inc.
• Korea Tobacco & Ginseng Corporation
• Imperial Brands
• Philip Morris International
• British American Tobacco
• Japan Tobacco Inc.
• Scandinavian Tobacco Group
• ITC Limited
• China National Tobacco Corporation

Access Press Release of Tobacco Market@ https://www.grandviewresearch.com/press-release/global-tobacco-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Plastic Pallets Market to Bring In USD 10.4 Billion by End of the Forecast Period

Plastic Pallets Market Growth & Trends

The global plastic pallets market size is expected to reach USD 10.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. Increasing demand for robust, long-term, contamination-free, and eco-friendly packaging, which accounts for a low cost per trip in the longer term as compared to expendable packaging coupled with a steady expansion of end-use industries is expected to fuel the growth to the market.

Plastic pallets are typically made from robust materials, including polypropylene (PP) and high-density polyethylene (HDPE), and are primarily intended for multiple trips rather than a single trip. Plastic pallets are made from virgin and recycled plastic resins. Virgin resin-based skids offer superior performances. However, recycled resin-based pallets are less expensive and more sustainable, due to which they are generating considerable traction within the market.

Plastic pallets can be easily cleaned with high-pressure jet spray and demand minimal maintenance, unlike wooden pallets. Besides, wood pallets are highly susceptible to moisture and pose a risk of sheltering bacteria, pests, or fungi, which can damage stacked food and pharmaceutical goods. Moreover, splinters or protruding nails of wooden pallets have the potential to break or tamper the pharmaceutical packaging, due to which, end-use companies are increasingly opting for plastic skids, which poses no such risks and weights much lower than wooden skids.

End-use companies are increasingly opting for returnable pallets such as plastic pallets primarily to reduce plastic waste and address sustainability concerns caused by expendable or one-way pallets, which is expected to fuel the demand for plastic pallets. Moreover, the steady expansion of automotive and other manufacturing activities across the world, wherein heavy-duty pallets are widely used, is likely to favor the growth of the PP and HDPE pallets in the coming years.

Plastic pallets are expensive compared to wooden skids; thus, their theft or misplacing increases the overall cost of material handling or product transportation. However, the advancement in technologies such as the incorporation of active RFID tags, Bluetooth, and the Internet of Things (IoT) interface has allowed easy and efficient tracking of skids throughout the supply chain, which in turn, is expected to attract end-use industries towards them in the coming years.

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Plastic Pallets Market Report Highlights

• High-density polypropylene (HDPE) accounted for the largest share of 68.2% in terms of revenue in 2020, owing to its sturdiness, wide availability, and low cost as compared to PP skids
• The nestable pallets segment led the type segment with a share of 43.6% by revenue in 2020 and is expected to witness significant growth from 2021 to 2028. Nestable skids can be nested into each other, due to which they occupy lesser space during return freight and proves to be cost-efficient as compared to other pallet types. Besides, the low cost of nestable pallets as compared to other type also attributed to their higher adoption by end-use companies
• The food and beverage end-use segment led the market in 2020 and accounted for more than 23.3% of the global revenue share. In the food and beverages industry plastic skids are utilized by farmers to handle fresh produce and by the bakery, dairy, beverage, meat, and other food processing companies. The steady expansion of packaged food sector is expected to increase the penetration of plastic skids within the food and beverage industry
• Asia Pacific emerged as the leading regional market and accounted for over 32.3% of the total revenue in 2020 and is expected to witness the highest CAGR from 2021 to 2028. Increasing manufacturing sector in developing countries such as China and India owing to the low cost of production coupled with growing penetration of e-commerce is primarily attributing to the growth of the market in the region
• The market is moderately fragmented with the presence of several small and medium-sized companies. Key players are focusing on acquisitions and also incorporating novel tracking devices to efficiently track product movement throughout the supply chain

Plastic Pallets Market Segmentation

Grand View Research has segmented the global plastic pallets market on the basis of material, type, end-use, and region:

Plastic Pallets Material Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)

• High Density Polyethylene
• Low Density Polyethylene
• Polypropylene
• Others

Plastic Pallets Type Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)

• Nestable
• Rackable
• Stackable
• Others

Plastic Pallets End-use Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)

• Food & Beverages
• Chemicals
• Pharmaceuticals
• Petroleum & Lubricants
• Others

Plastic Pallets Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players in Plastic Pallets Market

• Orbis Corporation
• Rehrig Pacific Company
• Monoflo International
• CABKA Group
• Greystone Logistics
• TMF Corporation
• Allied Plastics, Inc.
• Perfect Pallets, Inc.
• Polymer Solutions International, Inc.
• TranPak, Inc.

Access Press Release of Plastic Pallets Market@ https://www.grandviewresearch.com/press-release/global-plastic-pallets-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Eyewear Market to Reflect a Holistic Expansion During 2021 to 2028

 Eyewear Market Growth & Trends

The global eyewear market size is anticipated to reach USD 278.95 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to exhibit a CAGR of 8.5% during the forecast period. Advancements in lens-making technology enable eyewear manufacturers to produce large quantities of eye lenses, thus providing users with more affordable and diverse buying options. The integration of 3D printing technology with the eyewear manufacturing process further offers eyewear providers the opportunity to exercise efficient resource management and mitigate costs associated with extensive inventories, limited product design, and complicated supply chains.

The rising demand for customized eyewear among users is fueling the market growth. People prefer unique products that are tailored according to their needs, such as the shape of eyes and face, color and texture of glasses, and the frame's design and material. This is expected to result in the disruption of distribution models to meet end-users' demands, thus offering market growth opportunities over the next few years. To cater to this trend, an increasing number of eyewear manufacturers, such as Topology and Pair Eyewear, have started offering customized eyewear to their customers. These customized eyewear products include glasses with different features, such as eliminating UV radiation, photochromic glasses, and glasses with a high index number.

The amalgamation of digital channels with the eyewear value chain in recent years has increased the sales of eyewear products significantly. The e-commerce distribution channel is gradually gaining momentum due to the ongoing COVID-19 pandemic, which encourages users to practice social distancing and order from their homes. Several eyewear companies, including Lenskart, are offering users the opportunity to make calculated spectacle buying decisions by providing virtual facial analysis and product virtualization facilities. Additionally, establishing digital channels allows companies to maintain essential customer data such as their buying preferences, search history, and feedback, which can help them offer more curated and specific products to their customers in the future.

The emerging demand to practice sustainability among eyewear companies and their customers is changing the market dynamics. Eyewear manufacturers such as Evergreen Eyecare and Modo have started using eco-friendly materials in eyewear designs, which helps the company practice sustainable development and enhance its customer journey. The trend is encouraging newer eyewear manufacturers such as Shwood Eyewear and PaperStyle to diversify their products and offer more ecological, budget-friendly, and unique products to customers while also capture a better revenue share. Companies are experimenting with materials such as wood, paper, leather, and wool to design eyewear with innovative textures, which promises to attract more customers.

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Eyewear Market Report Highlights

• In terms of product, the sunglasses segment is expected to emerge as the fastest-growing segment over the forecast period. The promising growth prospects of the segment can be attributed to the gradual easing of travel restrictions, which is promoting people to use sunglasses as a travel accessory.
• In terms of the distribution channel, the e-commerce segment is envisioned to register the highest growth rate over the forecast period. This can be attributed to the better functionality, ease of access, better discounts, and better buying options offered by online players.
• The Asia Pacific region is expected to register the highest CAGR over the forecast period. This can be chiefly attributed to the resumption of eyewear and eyewear parts manufacturing and essential supply chain activities in China, which is a major supplier of eyewear parts in the world.
• The growing demand for colored contact lenses and increasing penetration of soft contact lenses in Japan and China is further promoting the demand for eyewear in the Asia Pacific region.
• In response to the COVID-19 pandemic, companies rapidly deployed their IT capabilities to execute remote connections with employees and customers to deliver a productive and functional, and productive Work From Home (WFH) strategy, which has kept the market buoyant.

Eyewear Market Segmentation

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

Eyewear Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)

• Contact Lenses
  • Premium Contact Lenses
  • Mass Contact Lenses
• Spectacles
  • Spectacle Frame
    • Type
      • Premium Spectacle Frames
      • Mass Spectacle Frames
    • Style
      • Round
      • Square
      • Rectangle
      • Oval
      • Others
    • Spectacle Lenses
  • Sunglasses
    • Lens Type
      • Polarized Sunglasses
      • Non-Polarized Sunglasses
    • Lens Material
      • CR-39
      • Polycarbonate
      • Polyurethane
      • Others

Eyewear Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

• E-Commerce
• Brick& Mortar

Eyewear Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
  • Vietnam
• South America
  • Brazil
• MEA

List of Key Players in the Eyewear Market

• Johnson & Johnson Vision Care, Inc.
• ESSILORLUXOTTICA
• CooperVision
• Carl Zeiss AG.
• Bausch & Lomb Inc.
• Safilo Group S.p.A.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Returnable Packaging Market to Record an Exponential CAGR by 2028

 Returnable Packaging Market Growth & Trends

The global returnable packaging market size is expected to reach USD 153.35 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.7% from 2021 to 2028. Rapid industrialization, increasing trade activities, and rising demand for robust, long-term, and eco-friendly packaging for the transportation of finished and semi-finished goods in multiple end-use industries are expected to augment the growth of the market.

Returnable packaging consists of sturdy products, such as pallets, crates, IBCs, and drums and barrels, which are intended to use for multiple trips. These products are designed to withstand harsh handling within the supply chain, thus are made up of robust materials, such as polypropylene, high-density polyethylene, metal, and wood, which results in their high cost as compared to single-use packaging. However, returnable packaging is reused multiple times, which eliminates the recurring costs of packaging products and makes them lucrative in the longer term.

Globally, end-use companies or consumer brands are increasingly pledging to switch to reusable or recyclable packaging products owing to sustainability issues and to improve brand equity. Besides, growing favorable government regulations such as European Union’s Circular Economy Action Plan that focuses on sustainable practices are expected to favor the market growth in the coming years.

Flourishing e-commerce across the world is likely to augment market growth as the product distribution through e-commerce consists of extensive logistics, wherein returnable packaging products are used. Moreover, the growing pharmaceutical industry due to the rising elderly population and increasing chronic diseases, along with a surge in the personal care and cosmetic industry on account of the rising preference for natural or plant-based beauty products, is likely to drive the market significantly.

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Returnable Packaging Market Report Highlights

• Based on material, plastic accounted for a share of 63.4% in terms of revenue in 2020 owing to the high adoption of plastic-based pallets, crates, and IBCs by end-use companies due to their durability, lightweight, low cost, and high-impact resistance
• By product, pallets led the market with a share of 57.2% in 2020 and are expected to witness significant growth from 2021 to 2028. This is attributed to the high adoption of pallets for material loading and unloading by multiple end-use industries
• Asia Pacific emerged as the leading regional market and accounted for 36.4% of the total revenue in 2020. The growing manufacturing sector in developing countries, such as China and India, owing to the low cost of production is boosting the growth of the regional market
• The market is moderately fragmented with the presence of a significant number of large and medium-sized companies. Key players are focusing on acquisitions and are incorporating novel tracking devices to efficiently track product movement throughout the supply chain

Returnable Packaging Market Segmentation

Grand View Research has segmented the global returnable packaging market on the basis of material, product, end use, and region:

Returnable Packaging Material Outlook (Revenue, USD Million, 2017 - 2028)

• Plastic
• Metal
• Wood

Returnable Packaging Product Outlook (Revenue, USD Million, 2017 - 2028)

• Pallets
• Crates
• IBCs
• Drums & Barrels
• Dunnage
• Others

Returnable Packaging End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Food & Beverages
• Automotive
• Consumer Durables
• Healthcare
• Others

Returnable Packaging Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Returnable Packaging Market

• Orbis Corporation
• Nefab Group
• Plastic Packaging Solutions Midlands & East Ltd.
• Tri-Pack Plastics Ltd.
• Amatech Inc.
• CHEP
• Celina Industries
• UBEECO Packaging Solutions
• RPR Inc.
• Schoeller Allibert

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research    reports, customized research reports, and consulting services. To help clients make informed business    decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.