Testing, Inspection, And Certification Market Industry Analysis , Opportunity Assessment And Forecast Till 2030: Grand View Research Inc.

 Testing, Inspection, And Certification Market Growth & Trends

The global testing, inspection, and certification market size is anticipated to reach USD 499.0 billion by 2030, growing at a CAGR of 4.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The incremental deployment rates of testing, inspection, and certification (TIC) systems and solutions can be accredited to the rise in manufacturing activities worldwide. Furthermore, the onset of Industry 5.0 and the rise in connected systems further augments the need to deploy TIC-based technologies in tandem with manufacturing activities.

The need to optimize manufacturing processes and end products has resulted in the manufacturing application segment capturing the highest growth rate of 6.4% over the forecast period. For instance, in January 2022, SGS, a Swiss international business that provides inspection, verification, testing, and certification services, has launched a new Vehicle Over the Air (OTA) performance testing laboratory in Suzhou, China. The lab will assist automotive manufacturers in helping them test, validate, and comply with evolving wireless standards and regulations. It fully integrates beneficial resources in automobile, communication, electronics, and reliability testing to provide commercial customers with technical verification, quality improvement product certification, and technology development services.

The integration of cloud technology with the TIC market is one of the significant market drivers. The need to access data instantly, automate certification, and issue reports on a real-time basis highlights the importance of storing essential TIC-related data in the cloud. Moreover, cybersecurity concerns such as increasing instances of cyberattack and data privacy threats further highlight the importance of a safe cloud architecture to safeguard data from people with malicious intent.

This is expected to help in general data regulation, security certifications, and software testing. For instance, in February 2022, Intertek Group plc, one of the prominent providers in connectivity testing and cybersecurity, established its Acucert, the first ISO/IEC certified cybersecurity testing lab in Mumbai, India. Acucert has significant expertise in IT system and software testing while meeting stringent quality control standards. Further opening a new testing lab would help them promote internationally and nationally.

The gradual acceptance of big data analytics with the TIC-based technology model is also expected to offer an impetus to the TIC market. The adoption of big data analytics technology by service providers is expected to diversify their service offerings, such as data-based services and predictive maintenance data and enable service providers to offer better solutions to their customers.

In September 2021, TÜV SÜD, a safety, security, and sustainability solutions provider, offered wind turbine certification for areas affected by tropical storms. Within the scope of type certification, the company has designed a computer framework to analyze the data of the areas and check compatibility for these regions based on the worldwide IEC 61400 standard. The computer model allows for the simulation of even the most extreme wind conditions in tropical cyclone-prone areas and the use of this simulation to determine if a wind turbine is suited for such places.

Asia Pacific is expected to capture the highest growth rate over the forecast period. Rapid industrialization and rising infrastructure development in Australia, South Korea, and India facilitate deploying proficient TIC solutions. Furthermore, the emerging technology ecosystem in countries such as Japan and China have resulted in several companies outsourcing their software and product development tasks. The ability to gain high-performance products at affordable rates from these countries promotes companies to access TIC solutions and services related to specific needs and requirements, thereby offering an impetus to market growth.

In December 2021, Eurofins Scientific, a global scientific leader in bioanalytical testing and a clinical diagnostic testing leader with Transgenic Inc., announced the acquisition of GeneticLab Co., Ltd., a molecular biology-based testing vendor. This acquisition will assist the company in strengthening its position in the Japanese market. It would further expand the company’s global presence in Asia, specializing in advanced genetic testing.

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Testing, Inspection, And Certification Market Report Highlights

• The certification segment is expected to emerge as the fastest-growing segment over the forecast period. The segmental growth can be attributed to increasing need of companies to certify their business practices use the right talent for specialized work.
• The outsourced segment is expected to register the highest CAGR over the forecast period owing to the ability to access more affordable TIC products and solutions and decreased operational expenditure.
• The manufacturing segment is expected to capture the highest growth rate over the forecast period owing to rising industrial activity around the world and development of new machine components which need to be tested and inspected before deployment.
• Asia Pacific region is expected to dominate the market over the forecast period. This can be attributed to rising economic activity in China and India. The implementation of Bharat Stage 6 in India has led automotive developers to develop new automotive components which have to be tested rigorously to meet international standards.

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Testing, Inspection, And Certification Market Segmentation

Grand View Research has segmented the global testing, inspection, and certification market report based on service type, sourcing type, application, and region:

Testing, Inspection, And Certification Service Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Testing
• Inspection
• Certification

Testing, Inspection, And Certification Sourcing Type Outlook (Revenue, USD Billion, 2017 - 2030)

• In-house
• Outsourced

Testing, Inspection, And Certification Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Consumer Goods & Retail
• Agriculture & Food
• Chemicals
• Infrastructure
• Energy & Power
• Education
• Government
• Manufacturing
• Healthcare
• Mining
• Oil & Gas And Petroleum
• Public Sector
• Automotive
• Aerospace & Defense
• Supply Chain & Logistics
• Others

Testing, Inspection, And Certification Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• South America
  • Brazil
  • Argentina
• Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE

List of Key Players of Testing, Inspection, And Certification (TIC) Market

• ALS Limited
• Applus+
• Bureau Veritas SA
• DEKRA SE
• DNV GL
• Element Materials Technology
• Eurofins Scientific
• Intertek Group plc
• MISTRAS Group, Inc.
• SGS SA
• TÜV NORD GROUP
• TÜV Rheinland
• TÜV SÜD
• UL LLC.

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.

Saffron Market Size Projected to Rise Lucratively during 2020 to 2028: Grand View Research Inc.

 Saffron Market Growth & Trends

The global saffron market size is expected to reach USD 721.5 million by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.5% over the forecast period. The demand for saffron has been growing rapidly owing to several factors, such as the growing demand for natural ingredients in the food industry. Furthermore, the medicinal properties of saffron have also been one of the key driving factors contributing to the growth of the market. Saffron is the most versatile and costliest spice in the world. Saffron is the dry stigma of Crocus Sativus, where each flower has only 3 stigmas. The process of handpicking the saffron thread is very labor-intensive and over 70,000 flowers produce 1 pound of saffron.

The extensive production process coupled with lower production volumes makes it the most expensive spice among others. Saffron corms are needed for the production of saffron, and the key suppliers of this raw material include Roco saffron, American Meadows, and Bloembollenbedrijf J.C.Koot (sattivus.com). Saffron is available in four grades including grades I, II, III, and IV. However, grade I is the highest quality of saffron containing all red stigmas having excellent coloring, flavoring, and aromatic properties, whereas grade IV is the lowest quality of the product that needs to be used in a large quantity to get the optimum results. Asia Pacific is one of the key regions in the market with the dominant share in 2020.

The demand for saffron is continuously on the rise owing to its increasing usage in the traditional cuisines of Asia Pacific countries. Furthermore, saffron is used in traditional Asian medicines to treat or prevent various diseases and health conditions. The increasing usage of the product in various dietary supplements as an ingredient is also expected to bolster the demand over the forecast period. The majority of the players operating in the global market are export-oriented and focus more on their supply chain and global distribution network to meet the increasing demand from various application industries across the globe.

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Saffron Market Report Highlights

• The grade I segment accounted for the largest revenue share of over 59.98% in 2020 and is estimated to retain the dominant position throughout the forecast period
• The medical application segment is projected to be the fastest-growing segment over the forecast period
• The increasing product usage in dietary supplementsand medicines for the treatment or prevention of various health conditions, such as high cholesterol levels and healing of second-degree burns, boosts the segment growth
• Middle East & Africa is the key region, which is anticipated to witness the fastest growth in the market over the forecast period
• Middle East holds the largest production cluster of saffron and has increasing product usage in the food as well as medical applications contributing to the highest growth of the regional market

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Saffron Market Segmentation

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

Saffron Grade Outlook (Volume, Tons, Revenue, USD Thousand, 2017 - 2028)

• Grade I
• Grade II
• Grade III
• Grade IV

Saffron Application Outlook (Volume, Tons, Revenue, USD Thousand, 2017 - 2028)

• Food
• Medical
• Cosmetics
• Others

Saffron Regional Outlook (Volume, Tons, Revenue, USD Thousand, 2017 - 2028)

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

List of Key Players of Saffron Market

• Esfedan Trading Company
• Safran Global Company S.L.U.
• Tarvand Saffron Co.
• Saffron Business Company
• Gohar Saffron
• Rowhani Saffron Co.
• Mehr Saffron
• Flora Saffron
• Royal Saffron Company
• Iran Saffron company

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.

Ultrasound Device Market to Reflect Impressive Expansion During 2022 to 2030: Grand View Research Inc.

 Ultrasound Device Market Growth & Trends

The global ultrasound device market size is expected to reach USD 14.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. Ultrasound is a very efficient technology that aids in the diagnosis of various disorders such as tumors as well as the detection of changes in the appearance of organs, tissues, and arteries. It also has a range of therapeutic applications. An increase in the adoption of ultrasound devices for diagnosis and treatment is driving the market. In addition, a rise in the adoption of minimally invasive surgeries, coupled with technological advancements is expected to boost the market growth.

Emerging innovations in ultrasound technology are expanding the market size. Hand-held ultrasound devices have made the technology more accessible for use in limited-resource communities around the world. Furthermore, the introduction of 3D/4D ultrasound and the integration of artificial intelligence (Al) to automate time-consuming processes are expected to propel the market growth during the forecast period. For instance, in September 2020, GE Healthcare launched Voluson SWIFT, a new ultrasound technology, which is designed to help women’s health by allowing clinicians to enhance patient outcomes by expanding diagnostic capabilities. The system includes industry-first AI algorithms for auto-recognition and has excellent image quality.

The rising prevalence of chronic diseases like cancer, neurological conditions, orthopedic conditions, and cardiovascular diseases, significantly increases the demand for the adoption of ultrasound devices for diagnosis, thus expanding the market during the forecast period. In addition, the market for therapeutic ultrasound equipment is predicted to grow due to the rising use of ultrasound techniques for various therapeutic procedures using High-Intensity Focused Ultrasound (HIFU) technology and Extracorporeal Shockwave Lithotripsy (ESWL). The market's prominent competitors are taking different initiatives such as funding and acquisitions of medium and small-sized businesses in order to expand their product portfolio and enhance their manufacturing capacity. For instance, in September 2021, GE Healthcare acquired BK Medical, a leader in advanced surgical visualization.

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Ultrasound Device Market Report Highlights

• By product, the diagnostic ultrasound devices segment accounted for the largest revenue share in 2021 owing to the rising demand for improved diagnostic devices such as miniaturized 2D and 3D/4D
• The therapeutic ultrasound devices product segment is expected to grow at a significant rate during the forecast period
• Based on portability, the cart/trolley-based devices segment accounted for the largest revenue share in 2021
• In terms of application, the general imaging segment held the largest revenue share in 2021
• The hospitals end-use segment held the largest revenue share in 2021 and is further expected to maintain its lead over the forecast period. This is owing to the extensive use of ultrasound devices in hospital settings and an increase in the number of patients visiting hospitals with various lifestyle-related disorders
• North America accounted for the largest revenue share in 2021. Asia Pacific is anticipated to expand at the fastest CAGR over the forecast period owing to the increased demand for better imaging devices

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Ultrasound Device Market Segmentation

Grand View Research has segmented the global ultrasound device market based on product, portability, application, end-use, and region:

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

• Diagnostic Ultrasound Devices
  • 2D
  • 3D/4D
  • Doppler
• Therapeutic Ultrasound Devices
  • High-intensity Focused Ultrasound
  • Extracorporeal Shockwave Lithotripsy

Ultrasound Devices Portability Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld
• Cart/Trolley

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

• Cardiology
• Obstetrics/Gynaecology
• Vascular
• Orthopedic
• General Imaging

Ultrasound Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Imaging Centres
• Research Centres

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

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

List of Key Players of Ultrasound Device Market

• Koninklijke Philips N.V. 
• GE Healthcare
• Siemens Healthineers AG
• Canon Medical Systems
• Mindray Medical International Limited
• Samsung Medison Co., Ltd.
• FUJIFILM SonoSite, Inc.
• Konica Minolta Inc.
• Esaote

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.

Regulatory Affairs Outsourcing Market to Reflect a Holistic Expansion During 2022 to 2030: Grand View Research Inc.

 Regulatory Affairs Outsourcing Market Growth & Trends

The global regulatory affairs outsourcing market size is expected to reach USD 13.9 billion by 2030, registering a CAGR of 8.9% over the forecast period, according to a new report by Grand View Research, Inc. Significant increase in the fixed costs of in-house resources for regulatory affairs & operation activities like training, technology, specialized knowledge, and facilities are driving outsourcing of regulatory affair functions. Addressing local regulatory challenges and constant changes in the regulations of the major markets, such as the U.S., Europe, and Asia, is creating demand for these services. Compliance with the current regulations has become an immense chore, leave alone trying to stay up to date with developments around the world. Amendments to current regulations are likely to simplify the regulatory pathway for the industry but in turn, complicate the operation for healthcare product manufacturing companies.

Thus, leading to the regulatory affairs outsourcing to service providers. The market witnessed a significant decline in 2020 due to the outbreak of the COVID-19 pandemic, as there was a halt in clinical trial activities including regulatory updates. Disruption in the supply chain and closure of R&D sites resulted in a significant loss of revenues in 2020 across the industry. However, due to the pandemic, various healthcare companies are opting for more regulatory advice, as companies push to speed up the product development & approvals in therapies, vaccines, & devices for COVID-19. Owing to the urgent need for medical devices and therapies for COVID-19, regulatory authorities are providing emergency use authorization for the majority of products. Such actions have further promoted the demand for these services post 2020 and the positive rebound of sales across the industry can be witnessed from 2021.

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Regulatory Affairs Outsourcing Market Report Highlights

• The regulatory writing & publishing services segment dominated the market with the maximum revenue share in 2021as they are offered from the early stages of development to the post-marketing authorization phase and are vital for the success of a product
• The large companies segment is projected to witness the fastest CAGR during the forecast period. The availability of a wide variety of services and the presence of these providers in various geographies are the key factors driving the segment growth
• The clinical studies stage segment accounted for the largest market share in 2021 due to the increasing demand for clinical trials in developing countries
• The pharmaceutical companies end-use segment is anticipated to witness the fastest growth rate over the forecast period due to evolving areas, such as orphan drugs and personalized therapies
• Asia Pacific held the maximum revenue share of the global market in 2021 owing to higher off shoring of such services into regions of economic benefits and the expansion of life sciences companies in countries, such as India & China

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Regulatory Affairs Outsourcing Market Segmentation

Grand View Research has segmented the global regulatory affairs outsourcing market based on services, company size, category, indication, stage, end user, and region:

Regulatory Affairs Outsourcing Services Outlook (Revenue, USD Million, 2018 - 2030)

• Regulatory Consulting
• Legal Representation
• Regulatory Writing & Publishing
• Product Registration & Clinical Trial Applications
• Other Services

Regulatory Affairs Outsourcing Company Size Outlook (Revenue, USD Million, 2018 - 2030)

• Small
• Medium
• Large

Regulatory Affairs Outsourcing Category Outlook (Revenue, USD Million, 2018 - 2030)

• Drugs
  • Generics
  • Innovators
• Biologics
  • Biotech
  • ATMPs
  • Biosimilars
• Medical Devices
  • Therapeutic
  • Diagnostic

Regulatory Affairs Outsourcing Stage Outlook (Revenue, USD Million, 2018 - 2030)

• Preclinical
• Clinical
• PMA (Post Market Authorization)

Regulatory Affairs Outsourcing Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology
• Neurology
• Cardiology
• Immunology
• Others

Regulatory Affairs Outsourcing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Medical Device Companies
• Pharmaceutical Companies
• Biotechnology Companies

Regulatory Affairs Outsourcing Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Regulatory Affairs Outsourcing Market

• Accell Clinical Research, LLC
• GenPact Ltd.
• Criterium, Inc.
• PRA Health Sciences
• Promedica International
• Regenold GmbH
• BioMapas
• Zeincro Group
• Medpace     
• ICON plc
• Covance
• Parexel International Corp.
• Freyr

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.

Legal Cannabis Market Valuation to Reach USD 134.4 Billion by the end of 2030: Grand View Research Inc.

 Legal Cannabis Market Growth & Trends

The global legal cannabis market size is expected to reach USD 134.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 25.3% from 2022 to 2030. The increased legalization across different nations of the usage of cannabis-derived products has gained a lot of popularity. Medical cannabis-based has been used in the treatment of various indications like epileptic seizures, nausea related to chemotherapy, anxiety, and other brain-related diseases. Several studies are being conducted for CBD products in various indications. The medical fraternity has slowly increased acceptance of medical cannabis as well as marijuana and its derivatives owing to its legalization by the governments. Some countries like Canada, the U.S., and Uruguay have legalized its recreational use along with medicinal use. Adult use and recreational use of marijuana is readily available in some of the countries’ markets, thereby increasing adoption and market growth. The COVID-19 pandemic has impeded the growth of the market. Supply chain disruptions and a surge in panic buying scenarios led to the increase in the demand-supply gap, thereby affecting the market growth. However, it is expected to grow post-pandemic with the increased support from governments and ever-increasing demand.

Based on source, the marijuana segment accounted for the largest revenue share of over 70.0% in 2021 and is expected to exhibit the fastest growth rate during the forecast period. Marijuana is easily available and consumers are becoming more aware of its therapeutic properties alongside the more traditional recreational uses. It has been seen to reduce stress and relieve pain, thereby improving sleep irregularities. The decriminalization and legalization of marijuana usage have resulted in a marked reduction in illegal activities surrounding marijuana. CBD is quite potent when it comes to derivatives of the cannabis plant, thus it has emerged as the largest derivative segment with a revenue share of over 65.0% in 2021. The adoption of CBD-based products is increasing rapidly owing to the non-psychoactive nature of the derivative, thereby fueling market growth. In addition, positive attitudes of the medical fraternity toward CBD-based medicines are further propelling the segment growth. In addition, the others segment is anticipated to grow at the fastest rate during the forecast period owing to rising awareness and acceptance regarding the derivatives, along with increasing geographies sanctioning the use of various cannabinoids for medical and other purposes.

North America dominated the market with a revenue share of over 65.0% in 2021 owing to increasing acceptance of cannabis for medical purposes across the region and changing consumer perception toward cannabis. In addition, the presence of prominent cannabis companies in the North American region is boosting the market growth. Moreover, the Asia region is anticipated to grow at the fastest rate owing to the increasing number of countries sanctioning the use of cannabis, mainly for medical purposes.

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Legal Cannabis Market Report Highlights

• The market growth can be attributed to the increasing legalization of cannabis across the globe
• The marijuana source segment dominated the market in 2021 owing to the increasing adoption of marijuana for medical as well as adult use
• The CBD derivative segment dominated the market in 2021 owing to the increasing number of countries sanctioning the use of CBD for medical as well as other purposes
• By end use, the medical use segment dominated the market in 2021 owing to the rising geriatric population and increasing demand for cannabis for various medical purposes such as the management of chronic pain, mental disorders, chemotherapy-induced nausea and vomiting, and neurological disorders
• North America dominated the market in 2021 owing to the growing demand and positive attitude toward cannabis in this region

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Legal Cannabis Market Segmentation

Grand View Research, Inc. has segmented the global legal cannabis market on the basis of source, derivative, end use, and region:

Legal Cannabis Source Outlook (Revenue, USD Million, 2016 - 2030)

• Marijuana
  • Flowers
  • Oil and Tinctures
• Hemp
  • Hemp CBD
  • Supplements
  • Industrial Hemp

Legal Cannabis Derivative Outlook (Revenue, USD Million, 2016 - 2030)

• CBD
• THC
• Others

Legal Cannabis End-use Outlook (Revenue, USD Million, 2016 - 2030)

• Medical Use
  • Cancer
  • Chronic Pain
  • Depression and Anxiety
  • Arthritis
  • Diabetes
  • Glaucoma
  • Migraines
  • Epilepsy
  • Multiple Sclerosis
  • AIDS
  • Amyotrophic Lateral Sclerosis
  • Alzheimer’s
  • Post-traumatic Stress Disorder (PTSD)
  • Parkinson's
  • Tourette’s
  • Others
• Recreational Use
• Industrial Use

Legal Cannabis Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • Italy
  • Poland
  • Czech Republic
  • Switzerland
  • Netherlands
  • Croatia
  • Spain
• Asia
  • Japan
  • China
  • India
  • Thailand
• Oceania
  • Australia
  • New Zealand
• Latin America and Caribbean
  • Brazil
  • Mexico
  • Uruguay
  • Colombia
• Africa

List of Key Players of Legal Cannabis Market

• Canopy Growth Corporation
• GW Pharmaceuticals, plc
• Aurora Cannabis, Inc.
• Aphria, Inc.
• Cronos Group
• Tilray
• Sundial Growers Inc.
• Insys Therapeutics, Inc.
• The Scotts Company LLC
• VIVO Cannabis Inc.
• Cara Therapeutics Inc.

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.

Buy Now Pay Later Market Growth in the Coming Years

 Buy Now Pay Later Market Growth & Trends

The global buy now pay later market size is expected to reach USD 38.57 billion by 2030, registering a CAGR of 26.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the high purchasing power offered by the BNPL platforms, coupled with benefits, such as interest-free and convenient payments. On the other hand, an increase in the demand for delayed payments for online shopping and a surge in spending on high-cost products are expected to offer lucrative growth opportunities for the market over the forecast period. Several BNPL solution providers are striking partnerships with other fintech companies to offer their services efficiently.

For instance, in October 2021, Openpay, a buy now pay later solution provider, partnered with Till Payments, an end-to-end payment solution provider, to provide the flexibility of BNPL to more merchants and consumers across New Zealand and Australia. This partnership is expected to enhance the online shopping experience of more consumers across the region owing to the introduction of Openpay’s BNPL option at the Point-of-Sale (PoS) terminal. Moreover, several fintech companies are focusing on developing innovative BNPL features for local shoppers worldwide. For instance, in March 2021, Payflex announced the launch of the BNPL feature for local shoppers in South Africa.

Through this launch, local consumers would be able to purchase items from 500 well-known stores, such as Superbalist, Cotton-on, and many more. The COVID-19 pandemic is expected to have a positive impact on the market. A myriad of unexpected issues stemming from lockdowns, restrictions on the movement of people as well as goods, social distancing measures, and the growing awareness of BNPL payment method prompted various companies to adopt these solutions to provide a better customer experience. As a result, BNPL solution providers witnessed exponential growth in their customer base and transaction volumes. For instance, the overall BNPL transactions on ZestMoney jumped 300% in 2021 compared to 2020.

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Buy Now Pay Later Market Report Highlights

• In terms of channel, the online segment is anticipated to register the fastest CAGR over the forecast period. Numerous e-commerce companies are partnering with BNPL platforms. As a result, customers are shifting their preference toward online payment channels
• Small & Medium Enterprises (SMEs) are widely adopting BNPL services to maximize their tax deductions. These services help enterprises in managing their expenses with flexible repayment options and transparent fees
• In terms of end use, the retail segment dominated the segment in 2022. As a result of rising awareness among millennials who are rapidly adopting BNPL services for paying for clothing, electronics, and others.
• The presence of a large number of BNPL service providers in the North America region is expected to create growth opportunities for the regional market over the forecast period

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Buy Now Pay Later Market Segmentation

Grand View Research has segmented the global buy now pay later market on the basis of channel, enterprise size, end use, and region:

Buy Now Pay Later Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Online
• POS

Buy Now Pay Later Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Buy Now Pay Later End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Consumer Electronics
• Fashion & Garment
• Healthcare
• Leisure & Entertainment
• Retail
• Others

Buy Now Pay Later Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
• Latin America
  • Brazil
• Middle East & Africa

List of Key Players of Buy Now Pay Later Market

• Afterpay
• PayPal Holdings, Inc.
• Affirm, Inc.
• Klarna Inc.
• Splitit
• Sezzle
• Perpay Inc.
• Openpay
• Quadpay, Inc.
• LatitudePay

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.

Leather Chemicals Market to Reap Excessive Revenues By 2030

 Leather Chemicals Market Growth & Trends

The global leather chemicals market size is expected to reach USD 13.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% over the forecast period. The demand is attributed to the increase in demand for premium products and increasing consumption of the product from end-use industries such as automotive, apparel, and footwear. Demand for the product is predicted to rise in a wide range of applications, including jackets, wallets, upholstery, shoes, and belts, due to changing consumer lifestyles and increased disposable income. Leather is used in Personal Protection Equipment (PPE), such as shoes and gloves, and plays an important part in the construction industry.

Increasing disposable income in developing economies, combined with expanding population, is predicted to enhance demand for consumer goods, fueling the product market. Because of the rising use of finishing chemicals in Europe, the industry is expected to develop. Product manufacturers have integrated their manufacturing and distribution channels to improve market accessibility. The major factor driving the demand for leather in the past as well as in the coming years is the rapidly growing upholstery industry, which finds application in airplanes, furniture, and automobiles. It is liberally used in high-quality furniture and in high-end automobiles. upholstery is easy to clean, durable, and has a luxurious appeal. Premium brands are already offering upholstery to a number of small vehicle models. Another developing area for upholstery is airplane interiors in which high-performance leather makes it a suitable choice for engineers, designers as well as cost controllers.

The demand for footwear is increasing on account of expanding population and rising consumer spending capacity in the developing regions of the world. The dynamics of the footwear industry have changed with individuals preferring multiple as well as different types of footwear. The product is used to provide dimensional strength as well as tolerance to high temperatures and mechanical action to footwear, thus making it more durable. Thus, the thriving footwear industry is also expected to boost productivity growth over the forecast period.

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Leather Chemicals Market Report Highlights

• The polyurethane resins segment accounted revenue share of more than 22.0% in 2021. The growth is attributed to the increase in its utilization in leather processing
• The tanning and dyeing process is anticipated to witness the highest CAGR of 6.7% from 2022 to 2030 in terms of revenue owing to its various operations such as pickling, degreasing, tanning, dyeing, and drying
• The footwear application segment dominated the market and accounted for a revenue share of more than 49.0% in 2021. The demand is anticipated to grow with an increase in the consumption of leather in manufacturing footwear
• The upholstery segment is anticipated to witness a CAGR of 6.5% over the forecast period. The growth is anticipated to extensive coating application, and use of soft leather in the automotive and furniture industry
• Rising consumption of finishing chemicals in Europe is expected to foster market growth. The product manufacturers have integrated their production and distribution channels for improved market accessibility 

Access Press Release@ https://www.grandviewresearch.com/press-release/global-leather-chemicals-market

Leather Chemicals Market Segmentation

Grand View Research has segmented the global leather chemicals market on the basis of product, process, application, and region:

Leather Chemicals Product Outlook (Revenue, USD Million, 2018 - 2030)

• Biocides
• Surfactants
• Chromium Sulfate
• Polyurethane Resins
• Sodium Bicarbonate
• Others

Leather Chemicals Process Outlook (Revenue, USD Million, 2018 - 2030)

• Tanning & Dyeing
• Beamhouse
• Finishing Chemicals

Leather Chemicals Application Outlook (Revenue, USD Million, 2018 - 2030)

• Footwear
• Upholstery
• Leather Goods
• Garments

Leather Chemicals Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Italy
  • Spain
  • France
  • Turkey
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia

List of Key Players in Leather Chemicals Market

• Stahl International B.V
• Lanxess AG
• Bayer AG
• Elementis plc
• Texapel
• Chemtan Company Inc.
• Lawrence Industries Limited

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.

Global Demand for Open Banking Market Increasing in Most Part of World 2030

 Open Banking Market Growth & Trends

The global open banking market size is expected to reach USD 135.17 billion by 2030, growing at a CAGR of 27.2% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The global open banking market is expanding as a result of favorable government legislation, improved overall customer involvement made possible by open banking APIs, and an increase in the adoption of innovative applications and services. In addition, the relocation in the focus of retail banks toward consolidated technological enhancements also bodes well with the market’s growth.

Key industry players are aggressively investing in offering enhanced services to their customers. For instance, in June 2022, Mastercard announced its latest open banking feature, named Pay by link, through its banking pioneer in Europe, Aiia. This feature is expected to eliminate needless payment stages for companies from any sector by developing a straightforward link that enables clients to pay instantaneously in any situation. It is closely related to Mastercard's open banking agenda, which seeks to usher in a new era of choice, convenience, and personalization in a secure manner.

Increased investment in the open banking space by prominent players is expected to drive market growth over the forecast period. For instance, Visa, Inc. purchased Tink in June 2021 for USD 2.15 billion. The acquisition is anticipated to hasten the adoption of open banking in Europe through the provision of a reliable and secure platform for innovation. As a result, consumers have more control over their finances, including money management and financial goals.

The outbreak of the COVID-19 pandemic is expected to play a vital role in driving the growth of the open banking market over the forecast period. Since the pandemic, the banking industry has been continuously evolving to improve the customer experience and ease the process of banking for consumers. In addition, the rapid adoption of digitalization is expected to create a positive outlook for the market.

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Open Banking Market Report Highlights

• The banking & capital markets segment dominated the market in 2022. The changing investment needs of the new age population are expected to propel segment growth. People are looking for more flexible and worthy investment options offered through advanced platforms.
• The cloud segment is anticipated to witness the fastest growth owing to the increased adoption of cloud technology across the banking sector. Banks are leveraging the benefits of open banking by implementing strategic cloud solutions. As open banking evolves, the cloud is projected to become a critical technology in the banking sector.
• The app markets segment dominated the market in 2022. The segment growth can be attributed to the rising utilization of smartphones and applications for numerous purposes, such as mobile banking. Open banking applications leverage APIs to provide various services, such as rapid payments, a financial dashboard displaying accounts from several banks, proof of income, credit status verification, and money-saving advice to customers.
• The Asia Pacific regional market is anticipated to witness the fastest growth over the forecast period. The growing technological awareness in developing countries of the region is expected to play a decisive role in driving the growth of the regional market. Moreover, the Asia Pacific region is portraying an increased willingness of customers to share personal data in exchange for more customer-tailored services.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-open-banking-market

Open Banking Market Segmentation

Grand View Research has segmented the global open banking market based on services, deployment, distribution channel, and region.

Open Banking Services Outlook (Revenue, USD Million, 2017 - 2030)

• Banking & Capital Markets
• Payments
• Digital Currencies
• Value Added Devices

Open Banking Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Cloud
• On-premise

Open Banking Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Bank Channels
• Apps Markets
• Distributors
• Aggregators

Open Banking Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa (MEA)

List of Key Players of Open Banking Market

• Banco Bilbao Vizcaya Argentaria, S.A.
• Crédit Agricole
• DemystData, Ltd.
• Finleap connect
• Finastra
• FormFree Holdings Corporation
• Jack Henry & Associates, Inc.
• Mambu
• MineralTree, Inc.
• NCR Corporation

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.

Industrial Coatings Market Get Facts About Business Strategies 2022 to 2030: Grand View Research Inc.

 Industrial Coatings Market Growth & Trends

The global industrial coatings market size is expected to reach USD 112.22 billion by 2030, registering a CAGR of 3.5% during the forecast period, according to a new study by Grand View Research, Inc. Increasing product demand from the aerospace, electronics, power generation, mining, marine, oil & gas, automotive & refinish industries is expected to propel the market growth. Industrial coatings are widely used in general industrial applications, such as in heat exchangers, steel structures, containers, concrete, furniture, appliances, material handling equipment, and others to protect them from heat and humidity. These coatings also help protect equipment against chemical attack, abrasion, and corrosion, thereby improving product efficiency.

Rapid industrialization in economies, such as India, China, and Brazil, is also expected to provide new opportunities for the market. The presence of a large number of manufacturers is also projected to fuel the product demand from general industrial applications. The acrylic product segment is estimated to register the fastest CAGR from 2022 to 2030. On account of good adhesion, corrosion resistance, fast-drying properties, and barrier & inhibiting ability, acrylic industrial coatings are widely used in the automotive & auto refinish, general industries, aerospace, and other end-use sectors. Machinery equipment, new construction & refurbishment, automobiles, and intermodal containers are some of the applications of acrylic industrial coatings.

Alkyd is also anticipated to grow at a substantial growth rate during the forecast period. Alkyd coatings are used in an industrial environment majorly for metal coatings. These coatings have good gloss & color retention and corrosion resistance properties. They increase the durability of metal and thus find application in the coating of various structures, such as marine vessels, automotive parts, oil & gas plants, towers, and bridges. The water-based technology segment is expected to have the fastest CAGR from 2022 to 2030 as these coatings dry quicker than solvent-based coatings due to the faster evaporation of water from the coating layer. This results in fast-drying without the formation of surface skin. Water-based industrial coatings are mainly used in applications where solvent-based coatings react with the substrate.

They are ideal to use as primers as they possess excellent corrosion and thermal resistance. They have low toxicity due to the low VOC content and less hazardous air pollutant emissions and are flame-resistant. Due to strict legislation regarding the solvents present in coatings in the U.S. and several European countries, the use of water-based coatings is projected to increase. The powder-based technology segment is projected to witness considerable growth during the forecast period. It is more durable and eco-friendlier compared to its counterparts. Powder coatings have negligible VOC content due to the absence of solvents and thus, they comply more efficiently and economically with the environmental protection regulations.

Powder-based coatings are widely used in agricultural equipment, automotive, machine components, mechanical parts & building facades, and electrical fixtures to prevent corrosion and provide a thicker coating. Increasing demand for farming equipment, such as tractors, in Brazil, India, and China is expected to boost the demand for powder-based industrial coatings. Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, in July 2019, Axalta Coating Systems, LLC showcased its new technology, Amarium Pre-Catalyzed Lacquers, for use in wood coatings. The new technology protects the surface from ultra-violet radiation and is used for various applications including wooden furniture, cabinets, and other interior wood surfaces.

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Industrial Coatings Market Report Highlights

• Growing R&D investments by major industry players to develop sustainable and VOC-free coatings are expected to propel the product demand
• Asia Pacific dominated the global market in 2021 and is projected to witness the fastest CAGR from 2022 to 2030
• The acrylic product segment is potentially fueling the market growth owing to its rising demand in various end-use industries
• The solvent-borne technology segment accounted for the largest revenue share in 2021 and will expand further at a steady CAGR from 2022 to 2030
• The general industrial end-use segment accounted for the largest revenue share in 2021 and is expected to grow at a significant CAGR during the forecast period

Access Press Release@ https://www.grandviewresearch.com/press-release/global-industrial-coatings-market

Industrial Coatings Market Segmentation

Grand View Research has segmented the global industrial coatings market based on product, technology, end-use, and region:

Industrial Coatings Product Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• Acrylic
• Alkyd
• Polyurethane
• Epoxy
• Polyester
• Others

Industrial Coatings Technology Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• Solvent-borne
• Water-borne
• Powder-based
• Others

Industrial Coatings End-use Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• General Industrial
• Marine
• Automotive & Vehicle Refinish
• Electronics
• Aerospace
• Oil & Gas
• Mining
• Power Generation
• Others

Industrial Coatings Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

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

List of Key Players of the Industrial Coatings Market

• PPG Industries, Inc.
• Akzo Nobel N.V.
• The Sherwin-Williams Company
• Axalta Coating Systems, LLC
• Jotun
• BASF SE
• Henkel AG & Company, KGaA
• Nippon Paint Holdings Co., Ltd.
• Hempel A/S
• Beckers Group

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.

Personalized Medicine Market to Reach USD 922.72 Billion by 2030: Grand View Research Inc.

 

Personalized Medicine Market Growth & Trends

The global personalized medicine market size is expected to reach USD 922.72 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 6.95% from 2022 to 2030 owing to the increasing incidence of diseases and the rising demand for novel therapeutic drugs. The emerging applications of personalized medicine are consistently enhanced by immense research efforts. For instance, in July 2022, researchers at the UMass Chan Medical School developed a microorganism-based personalized medicine model system to aid the understanding of variation in metabolism to gauge the connection between an individual’s genome, diet, microbiota, and associative environmental factors.

Most cancer conditions are usually caused by an underlying genetic discrepancy and can cause fatalities with progression. The cancer condition can be effectively and precisely treated by understanding specific genomic characteristics. For instance, in May 2020, Qiagen launched QIAseq pan-cancer multi-modal panel to enable robust analysis of genomic characteristics of cancer subjects to derive a broad spectrum of applications in precision medicine for the profiling of solid tumors and heme malignancies.

The market is positively driven by advancements in NGS technologies and extensive research on the human genome. There has been an increasing focus on utilizing NGS to derive personalized medicine outcomes that could potentially be used for the treatment of cancer and rare genetic disorders. For instance, Illumina declared that it will present its multiple oncology research abstracts at the European Society of Medical Oncology (ESMO) annual meeting in Paris. Their research enables personalized cancer care using comprehensive genomic profiling of biopsies to match subjects to the potential drugs and immunotherapies.

Telemedicine facilitates virtual or telephonic clinical advice to aid physical convenience. Telemedicine is increasingly trending, especially after the COVID-19 pandemic. Government and research institutes are taking substantial efforts to enhance the applications of personalized telemedicine. For instance, in August 2022, the National Cancer Institute declared a grant of USD 23 million for five years to aid the launch of Telehealth Research Centers of Excellence (TRACE) across the U.S. The program was launched with the support of the White House Cancer Moonshot to seek development and advancements in telehealth delivery for cancer care with a mission to leverage health equity.

Molecular imaging systems and medical devices are playing a primary role in emerging advancements in personalized medicine. They effectively leverage the applications of personalized medicine in the treatment of different types of cancers. For instance, in June 2022, GE Healthcare declared the release of high-end molecular imaging by using gallium-68 radioisotope for the diagnosis and monitoring of prostate cancer so as to leverage access to precision health and theranostics for personalized prostate cancer treatment at an early stage of cancer progression.

The market is in the growth phase due to emerging technological advancements along with consistent industrial efforts such as collaborations and expansions. For instance, in December 2021, Biogen Inc., and TheraPanacea declared that they have signed a collaboration that focuses on advancing digital health for personalized medicine in neuroscience.

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Personalized Medicine Market Report Highlights

• The overall growth of the market is attributed to the rising need for novel therapeutic drugs coupled with leveraged genetic level understanding of diseases and the rising incidence of cancers and genetic disorders across the globe

• The personalized medicine therapeutics segment is anticipated to witness high growth over the forecast period owing to the extensive usage of pharmacogenomics for developing biopharmaceuticals. Further, the genomic medicine therapeutics segment is anticipated to grow substantially during the forecast period owing to significantly lowered costs of whole-genome sequencing

• North America dominated the market in 2021 due to the presence of key players and their intensive research for the development of novel therapies to find out curative solutions for various diseases

Access Press Release@ https://www.grandviewresearch.com/press-release/global-personalized-medicine-market

Personalized Medicine Market Segmentation

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

Personalized Medicine Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Personalized Medicine Diagnostics

  • Genetic Testing

  • Direct-To-Consumer (DTC) Diagnostics

  • Esoteric Lab Services

  • Esoteric Lab Tests

• Personalized Medicine Therapeutics

  • Pharmaceutical

  • Genomic Medicine

  • Medical Devices

• Personalized Medical Care

  • Telemedicine

  • Health Information Technology

• Personalized Nutrition & Wellness

  • Retail Nutrition

  • Complementary & Alternative Medicine

Personalized Medicine Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Spain

  • Italy

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players of Personalized Medicine Market

• GE Healthcare

• Illumina, Inc.

• ASURAGEN, INC.

• Abbott

• Dako A/S

• Exact Sciences Corporation

• Danaher Corporation (Cepheid, Inc.)

• Decode Genetics, Inc.

• QIAGEN

• Exagen Inc.

• Precision Biologics

• Celera Diagnostics LLC

• Biogen

• Genelex

• International Business Machines Corporation (IBM)

• Genentech, Inc.

• 23andMe, Inc.

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.