Portable X-Ray And CT Scan Devices To Witness Growth Owing To Rising Number Of Geriatrics And Target Diseases, 2015 To 2022

According to a new study by Grand View Research, the global market for portable X-ray and CT scan devices will be driven by growing cases of accidents and health conditions necessitating orthopedic, cardiovascular or brain-related investigation. New product developments in portable medical devices market are being facilitated by technological advancements like wireless devices and capital deployment in healthcare. Additionally, growing preference for diagnostic techniques that are minimally invasive and can be brought to the patients’ doorstep is proving beneficial to growth. The elderly are prone to falls and suffer from orthopedic issues. Growing worldwide aging population is leading to a rise in implant procedures. This makes portable screening devices important.

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Grand View Research observes that North America generated the most regional demand for portable X-ray and CT scan devices. Its dominance is likely to continue owing to surge in aging populace and technological superiority. Emerging economies in Asia and Latin America will augment future demand for portable X-ray and CT scan devices. These developing markets are characterized by a growth in technologically advanced and affordable products.

X-ray devices accounted for a larger market share as compared to CT scan devices. For the period from 2015 to 2020, demand for X-ray devices is likely to fall while that of CT scan devices will witness substantial growth.

Grandview Research found that on the basis of technology, medium slice scanners, with benefits like cost effectiveness and high performance, led the CT scan market segment. In X-ray devices segment, computed radiography was the preferred technology due to its affordability and user friendliness. In the near future, digital radiography-based portable X-ray machines are foreseen to witness highest growth. They offer features like fastest image acquisition rate, high throughput rate, low radiation and high quality imaging. Key operators in the global portable X-ray and CT scan devices market are GE Healthcare, Philips Healthcare, Hitachi Medical System, Varian Medical System, Siemens Healthcare, etc. Philips Healthcare assumed the leadership position in terms of market share in 2012.

Portable X-Ray And CT Scan Devices Market

Information Source: Grand View Research

In-Vitro Diagnostics Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

In-Vitro Diagnostics (IVD) is a way of conducting medical tests to determine the presence of infectious diseases, chronic ailments, sexually-transmitted diseases, cancerous growth, etc. in which an analyte is assessed in a controlled environment outside the living organism. Most early testing in this type was performed in a test tube, hence the name ‘in-vitro’ meaning ‘in-glass’ in Latin. The present IVD industry focuses on the manufacture of reagents and analytical instruments that are used in diagnostics. Reagents are chemical or biological substances that react with patient samples of blood, tissue, urine, etc. Analytical instruments comprise the equipments that automate the process. Accessories like relevant software products also fall under the IVD market’s purview.

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Growth Drivers

Significant world-wide rise in infectious diseases and chronic ailments including AIDS, cancer, tuberculosis, diabetes, and cardiovascular illnesses, among others, will drive the future demand for IVD diagnostics. Growing geriatric population in many parts of the world coupled with rising healthcare awareness is contributing to the same. Furthermore, the demand for speedy and non-invasive medical procedures has also increased, leading to growth of the IVD market. IVD diagnostic technique is either completely non-invasive or minimally-invasive. It is also faster with results often being delivered in just a few hours as compared to several weeks for traditional techniques. This results in early detection of medical conditions and better control which benefits the patient and society at large.

Market Segmentation

Product

Based on products, the IVD market can be categorized into tissue diagnostics, molecular diagnostics, professional diagnostics and diabetes monitoring. Of particular significance is the category of professional diagnostics, owing to its ability to deliver accurate and speedy outcomes. Its subsets include clinical chemistry, coagulation tests and immunoassays. Together, they contributed to more than 70% of the total global demand in 2012. The high level of unmet demand for these testing methods, particularly in the area of infectious diseases, is an important reason for this strong performance. Diabetes monitoring, with more than 15% share, stood in second position in 2012. The widespread prevalence of diabetes coupled with increasing awareness regarding timely and regular testing are factors conducive to demand for diabetic monitoring products like test strips. As per WHO, diabetes will be 7th leading cause of death in 2030. This is indicative of a huge demand for diabetic monitoring products in future. The tissue diagnostics market is likely to grow the fastest by 2020 due to growing demand for lab automation. WHO estimates a 70% rise in new cancer cases over the next two decades. This will also propel growth of tissue diagnostics.

Geography

North America accounted for the highest share of the total global IVD market in 2012. This was due to higher spending on healthcare driven by rising awareness levels. This region is anticipated to continue ascent in future. Europe followed North America with about 30% market share in 2012. The main growth generating regions in Europe were UK, Germany, France, Spain and Italy. In western parts of Europe, healthcare systems are heavily funded by governments. This positively impacts IVD market. Proliferation of ailments especially cancer, pneumonia, tuberculosis, etc., will propel future demand for IVD products in Europe. IVD techniques like molecular diagnosis and flow cytometry are critical for timely diagnosis and treatment. Technological advancements and automation in this field are also conducive to European market growth.

Competitive Profile

Key industry players are Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Johnson & Johnson and Beckman Coulter Inc., among others. The global IVD market features multiple large and small operators that provide instruments, reagents, services, etc. However, the five leading operators control more than half of the market share as a result of acquisitions. Companies are concentrating resources on development of new products in promising areas like molecular and tissue diagnostics. Thus, R&D is a key component of the competitive strategy of the global IVD industry.

In-Vitro Diagnostics Market 

Information Source: Grand View Research

 

 

Adhesives and Sealants Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

Adhesives and sealants are substances that are applied to bond two surfaces. Adhesives can be defined as non-metallic binders that act through adhesion and cohesion. Adhesive bonding includes glues, epoxies and other plastic agents that bond via a solvent’s evaporation or curing of a bonding agent with heat, pressure, or time. Sealants differ from adhesives in that they generally have lower strength and higher elongation. Sealants usually have a paste consistency that allows filling of gaps between substrates. They fall in between higher-strength adhesives and lower-strength putties and caulks.

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Adhesives and sealants are increasingly being preferred over the traditional thermal (e.g. welding) and mechanical (e.g. riveting) joining techniques owing to benefits like better product durability and reliability, increased quality and performance, design flexibility, better aesthetics, higher process productivity and lesser manufacturing costs. Their main applications include panel lamenting, facades, insulation, flooring, coating, lamination, etc.

Growth Drivers

Growing demand for end-use industries like construction, automotive, etc. in developing markets of China, India and Brazil is expected to fuel growth of adhesives and sealants market in the coming years. Developing technology and widespread applications are also proving to be favorable factors.

Challenges

Volatility in raw material pricing and supply directly impacts the market for adhesives and sealants. Price increases in petrochemical and energy sectors results in higher production costs, consequently reducing profit margins of adhesive formulators. Imposition of environmental regulations is another growth inhibitor. In response, industry participants are venturing into development of bio-based products like soybean derived polyols and vegetable oil based polyamides, epoxies and polyisoprenes. These are not only environmentally sustainable but also cost-effective. Players like Du Pont, Cargill, BASF, Croda, Evonik Industries and ADCO are actively involved in developing and manufacturing bio-based adhesives and sealants.

Market Segmentation

Technology

Based on technology the total global adhesives and sealants market is divided into water-based, solvent-based, hot melt, reactive, and others. The biggest advantage of water-based adhesives is lack of volatile organic compounds (VOCs) emissions, making them environment-friendly. They are therefore preferred under the newer stricter environmental directives. In fact, they may totally replace solvent-based adhesives and become the fastest growing technology segment in future. Reactive adhesives find great use in electronic applications owing to factors like enduring bonding strength and high temperature resistance. Holt melt adhesives are used in packaging, labeling, book binding, textiles, etc. This segment is increasingly attracting demand from both, developing and developed regions.

Product

Key adhesive product segments are acrylic, polyvinyl acetate (PVA), polyurethane, styrenic block, epoxy and ethylene vinyl acetate (EVA), etc. Main sealant product segments are silicones, polyurethane, acrylic, PVA, among others. Acrylic emerged as the segment leader in adhesives in 2012. It is also likely to account for fastest growth in future. Polyurethane is expected to grow at a CAGR of more than 6% from 2014 to 2020. In sealants, silicones with more than 30% of total volumes, was the leading segment in 2012. This segment will also grow the fastest in future.

Application

Key application areas of adhesives include furniture, footwear, construction, automotive, packaging and pressure sensitive applications, while those of sealants are automotive, construction, assembly, packaging, pressure sensitive tapes, etc. In case of adhesives, pressure sensitive segment, with more than 28% of total volumes, was the largest application area in 2012 and furniture is forecasted to grow the fastest in future. For sealants, construction accounted for the largest market share i.e. more than 27% in 2012, with the automotive segment expected to witness the fastest growth by 2020.

Geography

Asia Pacific was the key regional market for adhesives and sealants in 2012. It is also expected to be the largest and the fastest growing market in future due to escalating growth in automotive, construction and packaging industries in China and India. On the other hand, the mature European and North American markets will witness listless growth.

Competitive Profile

Innovation, forward integration and product differentiation are some of the competitive strategies employed by players in the global adhesives and sealants market. The market is concentrated, with a few leading operators accounting for considerable share.  Top manufacturers include Henkel AG, 3M Company, Dow Chemical Company and HB Fuller.

Adhesives and Sealants Market

Information Source: Grand View Research

Styrene Butadiene Rubber (SBR) Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

Styrene Butadiene Rubber (SBR) is a general-purpose synthetic rubber, made from a copolymer of styrene and butadiene. SBR is composed of about 75% butadiene and 25% styrene. These components are copolymerized in an emulsion process to produce SBR. SBR is an outcome of synthetic rubber research undertaken in Europe and US due to natural rubber scarcity during World Wars I and II. SBR’s advantages include abrasion and crack resistance, and better aging characteristics as compared to natural rubber.

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Market Insights

Commercial SBR is of two types – Solution (S-SBR) or Emulsion (E-SBR). In S-SBR the process of polymerization is initiated by free radical whereas in E-SBR by an alkyl lithium compound. The global SBR market stood at more than 5,000 kilo tons in 2013 and is forecast to grow up to more than 7000 kilo tons by 2020. The key growth driver would be the considerable demand for S-SBR from the tire market. However, price volatility of raw materials especially butadiene will restrain growth.

Global SBR market can be segmented on the basis of product, application and geography as follows –

Product

Although E-SBR is being used at present, the future is bright for S-SBR which is more suitable for tires – the most significant application segment. The real game-changer for S-SBR has been the imposition of labeling regulations on tire manufacturers by various countries like Japan, India, China, Brazil, US and South Korea, as well as the EU. There is growing demand for ‘green tires’ that offer environmental sustainability, fuel efficiency and durability. Tire makers are now required to label tires for wet grip, fuel efficiency and external rolling noise. S-SBR is the only product that offers required levels of fuel efficiency and wet grip. The tire industry accounted for more than 80% of the total global demand for S-SBR in 2013. This is expected to grow further by 2020.

Application

Major application segments include tire, footwear, polymer modification, adhesives, construction, insulation and carpet overlay. Tire, with a market share of more than 70%, led the application segment in 2013. The growth in automobile industry in manufacturing centers like China, India and Brazil is leading to      rising global demand for tires and therefore SBR.

Footwear followed tires in application in 2013. Favorable properties of SBR such as better abrasion resistance lead to its inclusion in manufacturing high performance sports footwear. Sports footwear is likely to witness increased demand in future owing to rising income levels, especially in emerging economies. This will in turn propel growth of SBR. Niche application segments like polymer modification, adhesives and insulation are expected to witness average growth.

Geography

Asia Pacific region experienced a linear growth in the past few years, which is likely to continue in future. SBR market in this region accounted for more than 45% in 2013. The positive outlook is mainly due to strong growth potential of infrastructure in China and India. Low labor and other operating costs have led to several large tire businesses from North America and Europe to move their production bases to Asia Pacific countries. Furthermore, rising middle-class population, higher disposable incomes and steady economic growth in India, China, Malaysia, Thailand and Indonesia will propel market growth. Another important driver will be high emphasis of nations on environment-friendly and recyclable products such as ‘green tires’. India will soon follow China in implementing tire labeling regulations.

Europe followed Asia Pacific in consumption of SBR in 2013. Key automobile manufacturers in Germany and Italy will generate future demand. EU tire labeling regulations that were introduced in 2012 will drive demand, chiefly for S-SBR, in the immediate future.

Competitive Landscape

Key market players of the global SBR industry are Lanxess AG, Bridgestone Corporation, Michelin, CNPC, etc. The industry is characterized by forward integration with petrochemical businesses engaged in all stages of the value chain. The global SBR market is fragmented with top ten companies contributing to less than 70% of the total demand. Investments, expansions, technological research & development, and new product introductions are important industry activities. Tire companies such as Michelin and Bridgestone Corporation are leading players in the global S-SBR market.

Styrene Butadiene Rubber (SBR) Market

Information Source: Grand View Research

 

 

 

 

 

 

 

 

Pea Proteins Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Pea protein is a plant-based protein food additive extracted from yellow peas that can be used as an alternate to other protein sources like dairy products including cheese, yoghurt, and milk, soy and animal-based proteins. A comparatively newer entrant to the plant-protein world, pea proteins are fast gaining appeal due to their numerous advantages. They possess an amino acid profile that is rich in lysine, arginine and branched chain amino acids. They are non-allergenic and non-genetically modified. They are preferred by vegans and consumers suffering from gluten allergies and celiac diseases.  They are a versatile product and are more environmentally sustainable than meat proteins.

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A key challenge while formulating with pea protein is its viscosity and taste issues. Some pea protein products bear a strong salty or bean taste. They often carry a shrimp-like smell. The widespread dominance of soy, milk, canola and wheat, and low mass-consumer awareness regarding newer protein alternatives is another inhibitor of growth for pea proteins market.

The pea proteins market is fragmented and characterized by strategic partnerships between manufacturers, distributors, and food & beverage businesses that enable the development of products with tailored properties.

Product Classification

Pea proteins products can be categorized based on their protein content, into isolates, concentrates and textured pea protein. Isolates are characterized by high solubility and amino acid content, and superior emulsification properties. This makes them a suitable alternative for meat products.  They also contain more than 90% protein and are therefore ideal for use in sports nutrition. The high protein content also leads to less consumption of the raw material and thus, lowers costs. Textured pea proteins are high in fiber. Their texture is similar to that of meat. They are used in dietary supplements and beverages. Pea concentrates are up to 75% protein. They are mostly added to food, beverage and aqua feed.

Application Insights

Pea proteins find the greatest use as dietary supplements. In fact, more than 65% of total pea proteins sales in the world in 2014 were in the form of dietary supplements.  Pea protein is an ideal nutritional supplement for sports enthusiasts like endurance athletes as it has a longer digestion window leading to a slower release of protein thereby increasing satiety. It also fuels muscle and bone growth. Food & beverage businesses include pea proteins as fortifiers in products like energy drink-mix powders. Meat substitute is also an important application of pea proteins. Pea proteins are an ideal alternative to eggs as they can induce the same fluffiness in baked goods.

Regional Insights

North America and Europe proved to be lucrative markets for pea proteins in 2014, attracting about 60% of the total volume.  In the US, pea protein is a part of green mixes that include other ingredients like micro-algae and plant-based anti-oxidants. The Asia Pacific region is also witnessing growing demand for nutrient fortified functional food products and consequently, pea proteins.

Outlook

Worldwide protein consumption is expected to increase from more than 200 billion tons in 2014 to close to 300 billion tons by 2022. Higher demand for protein owing to the growing health awareness will stimulate demand for pea proteins. The growing vegetarian population triggering the need for meat substitutes is a major factor for future growth of the global pea proteins market. Also, lactose intolerance, soy and gluten allergies will result in higher demand for pea proteins. Heavy investments in research and development for product innovation and in areas like extrusion technology will prove beneficial to market growth.

Of the various types of pea proteins, isolates are expected to witness the highest growth due to higher demand for protein powders and bakery products. The dietary supplements market is expected to grow robustly and will reach more than 60 billion by 2022, thereby augmenting the demand for pea proteins.

While growth will remain strong in North America and Europe, the Asia Pacific countries of China, India and South Korea will witness the fastest growth due to accelerated expansion of the food & beverage industry and favorable regulations. The key players of the global pea proteins market are Consucra-Groupe Warcoing, Burcon NutraScience Ltd., Nutri-Pea Ltd., Sotexpro, Shandong Jianyuan Foods Co. Ltd., and Roquette Freres.

Pea Proteins Market

Information Source: Grand View Research

Omega 3 Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

Omega 3 fatty acids are polyunsaturated fats important for the body to function normally. They deliver multiple health benefits like protection against Alzheimer’s and heart disease, lowering stiffness and joint pain due to Rheumatoid Arthritis and reducing symptoms of Attention Deficit Hyperactivity Disorder (ADHD) in children, among others. Of significant importance is its role in infant development and life-long brain, eye and cardiovascular health.

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Omega 3 fatty acids like EPA and DHA are mainly found in fish while ALA is found in nuts and seeds. Consumer products with omega 3 can be divided into dietary supplements and functional foods, clinical nutrition & beverage, pet foods, infant formula and pharmaceuticals.

Growth Drivers

Rising consumer awareness about maintaining a balanced diet regime for disease-free living and the health benefits offered by omega 3 fatty acids are the main drivers of demand for omega 3 products. People are increasingly including omega 3 fatty acids into their diet in the form of fresh seafood, functional foods and supplements. Existing applications of omega 3 are penetrating new markets and new applications are also being found, leading to steady market development. Approvals from various health bodies like the American Dietetic Association and the Food and Drug Administration (FDA) are also expected to fuel growth.

Challenges

Fish oil is the main source of omega 3 ingredients. However, its foul odor and distinctive taste negatively affects consumer perception and hampers demand. Also, limited global supply of fish oil is a challenge area. The fishery capacity of EPA and DHA has undergone change with higher reliance on fewer fisheries in recent years. A lack of Recommended Dietary Intake (RDI) standard has also hindered market growth.

Market Segmentation

Application

Key application segment based on market share is supplements and functional foods. This accounted for more than half of the total omega 3 market in 2012. Infant formula is another leading application segment expected to experience the fastest growth due to high demand coming from developing economies of Asia as well as Eastern Europe, Middle East and Latin America. Endorsements from official agencies have led to rising number of working women seeking quality and convenient nutrition in the form of formula, thereby fueling market growth.

Geography

The developed markets of North America and Europe drove most of the demand for omega 3 in 2012. Europe, with more than half of the global market share, was the market leader and North America stood in second place. The European Food Safety Authority has set the dietary reference values (DRVs) of omega 3 fatty acids to 250mg daily in order to reduce the risk of heart disease. In 2010, EU formulated new rules for omega 3 labeling with the intent of educating consumers regarding the quantity of EPA and DHA present in a product. This led to the introduction of new products. Panels of the US and Canadian governments recently selected DHA and EPA for Dietary Reference Intake (DRI) review. Favorable regulations regarding the inclusion of omega 3 in functional food and infant formula will trigger future demand in these regions.

Emerging economies of Asia Pacific are likely to experience the fastest growth in the coming years. Growing population in these regions will lead to higher demand for infant formula thereby increasing the market for omega 3 fatty acids. Also, rising awareness levels and increasing incidences of lifestyle-related illnesses such as coronary artery disease will boost demand.

Competitive Profile

Innovation drives competitiveness in the global omega 3 market. DSM is the world leader in the omega 3 market. In 2012, DSM acquired Martek, a leading US-based producer of omega 3s and Ocean Nutrition, a Canada-based supplier of fish-derived EPA and DHA. Martek’s acquisition brought DSM opportunities in the infant nutrition segment. In 2014, it announced an investment of $30million to upgrade and expand Ocean Nutrition’s omega 3 production facility in Nova Scotia. Other market players include Pronova BioPharma ASA, BASF SE, Croda International Plc., and Omega Protein Corporation. Martek Biosciences and Lonza were the first ones to manufacture omega 3 ingredients for algae oils.

Omega 3 Market

Information Source: Grand View Research

 

Near Field Communication Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Near Field Communication (NFC) technology makes possible safe and simple two-way interactions between electronic devices such as mobile and tablets. NFC includes a set of protocols that allow devices to communicate with each other when touched together or brought close at a distance of 3.9 inches or less. The technology works even when one of the devices is not powered by a battery. NFC makes use of the RFID technology and is a viable alternative to the prevalent short range data exchange options like Wi-Fi and Bluetooth.

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NFC offers various benefits over Bluetooth. It does not require a pairing code and takes lesser time to set-up. The shorter range provides better security, making it suitable for crowed areas. The low power feature offers added advantage. NFC is expected to make connections easier, transactions quicker and data sharing simpler in the coming years. It will eliminate the need to carry multiple credit cards as well as debit cards. For a long time NFC technology was riddled with problems between banks and network operators relating to sharing of revenues. However, a business model based on cooperation was agreed upon to serve the interests of all parties involved.

Products

NFC market includes product categories like NFC Controller ICs, NFC tags, NFC readers and NFC secure elements. NFC secure elements can be further split into NFC micro SD cards, embedded secure elements, NFC subscriber identity module and NFC universal integrated circuit card. Several mobile and tablet makers are adding NFC features to their products. NFC-enabled mobile devices are anticipated to reach 863 million units in 2015. The prevalence of NFC-compatible infrastructure such as point of sale and transportation systems in various regions is conducive to widespread implementation of NFC technology all over the world in future.

Markets

Geographically, the Americas, US in particular, account for a significant share of NFC market, while the Asia-Pacific region is expected to witness the fastest growth in future. European countries, specifically Germany and UK, and the Middle East, Australia and Africa are also seen as promising markets. The presence of semiconductor and other NFC related businesses in countries like Canada, Mexico and Brazil provide an impetus to NFC growth in the Americas. There exist a large number of small operators in the NFC market and the gaps are being filled by several new entrants. Markets are characterized by collaborations and partnerships across the supply chain, primarily among the top competitors.

Outlook

NFC technology is expected to play a major role in future with rising internet penetration, trend of mobile commerce and higher availability of NFC-enabled mobiles driving growth. Its applications will cover a gamut of activities like data sharing, authentication and access control, ticketing, and NFC based geo-tagging. NFC integration is taking place in several consumer electronic devices and the technology is drawing attention from industries like security, healthcare and automobile. NFC will generate revenues for the entire NFC ecosystem that includes handset manufacturers, trusted service management system businesses and commercial NFC service providers. The market for NFC is expected to grow at a CAGR of 8.83% and will reach $16.25 billion by 2022. Key global players include Texas Instruments, Samsung Electronics Corporation, MediaTek, Infineon Technologies, NXP Semiconductors, among others.

Near Field Communication Market

Information Source: Grand View Research

Mobile POS Terminals Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Any wireless device like a smart phone or a tablet that is used as a cash register at the place where a sales transaction occurs is a Mobile POS Terminal. Mobile POS devices enable connectivity at all times and are the preferred mode of operation in modern times. Increased use of mobiles and tablets, higher mobility, faster throughput, low initial investments, technological advancements and convenience of operation are the key factors leading to the popularity of Mobile POS Terminals. Low set-up costs are the most attractive feature that draws small and medium businesses towards this technology. However, complicated governmental regulations and multiple certifications may prove a hindrance to rapid growth.

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Product Insights

Mobile POS Terminal Systems incorporate features like VoIP, RFID, Wi-Fi, and smart card. They can also be connected to Bluetooth-enabled printers for faster checkout at retail stores. They employ technologies like Wi-Fi, CDMA, GPRS and 802.11 and offer reduced transaction costs. The advent of chip-embedded payment cards secured by personal identification number (PIN) has improved data security, thereby augmenting demand for POS terminals. Advanced POS systems are more durable as well as reliable and therefore, a better alternative to traditional systems, like cash registers. Also, better availability of affordable wireless communication systems and widespread proliferation of terminals enabled with TCP/IP connectivity will have a positive effect on the Mobile POS Terminals market.

Apple Pay, the mobile payment and digital wallet service introduced by Apple Inc. in 2014, is anticipated to take the place of traditional POS systems in future years. Also, reduced prices and the futuristic contactless technology are leading to growing demand for NFC-enabled POS Terminals.

Mobile POS Terminals feature pre-loaded software that is frequently customized to suit the user needs. There has been higher proliferation of Software as a Service (SaaS) in the Mobile POS Terminals market in recent years. The terminals are rugged and ergonomic. Implementation of hardware interface standards will have a positive effect on the POS hardware market.

Key Application Areas

Mobile POS Terminals witness strong demand from the retail sector followed by the hospitality industry.  Applications in retail outlets include managing assets, conducting price checks, receiving invoices and getting customer signatures, among others. Transactional data obtained from POS Terminals is a rich source of customer analytics intelligence. Quick Service Restaurants find great use for Mobile POS Terminal Systems due to speed and convenience. Healthcare organizations are also increasingly looking towards Mobile POS Terminals as a way for streamlining their payment systems and for tracking patient data. Warehousing and inventory management are the other areas where Mobile POS Terminals are being employed. However, the key demand for Mobile POS Terminals is expected to come from the small and medium retail businesses in the forthcoming years.

Regional Insights

The market for Mobile POS Terminals has reached maturity in developed economies of US and Western Europe. However, growing economies like China, India, Mexico and Brazil, with their increasing penetration of credit and debit cards, will provide growth opportunities in future. The expansion of retail industry in India and China is expected to boost the demand for Mobile POS Terminals in these regions.

Competitive Profile

Key market players include VeriFone Systems Inc., NEC Corporation, Panasonic Corporation, PAX Technology Ltd., Toshiba Corporation, MICROS Systems Inc., Cisco Systems Inc., Samsung Electronics Co. Ltd., Hewlett-Packard and Ingenico S.A., among others. The industry is characterized by consolidation, with mergers and acquisitions being a dominant feature for the past few years. Ingenico S.A. took over the POS terminals business of Sagem Monetel in December 2007. Similarly, Verifone Systems Inc. acquired Hypercom Corporation in August 2011. The Mobile POS Terminal market is expected to witness increased competition in the coming years as new businesses enter the industry.

Mobile POS Terminals Market

Information Source: Grand View Research

Medical Oxygen Concentrators Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Oxygen concentrators are stationary or portable devices that supply oxygen to patients in high concentrations. They are particularly useful in treating respiratory ailments like bronchitis, emphysema, sarcoidosis, and chronic obstructive pulmonary disease (COPD). Oxygen concentrators generate oxygen by concentrating the oxygen present in the air and removing other gases. Supplemental oxygen enables bodies of respiratory patients to carry out necessary functions. Portable oxygen concentrators offer freedom to users to continue their normal life. Convenient, affordable and light, portable devices have altered industry dynamics and accelerated market growth. Innovative products characterized by long battery life and superior delivery of oxygen are favorable for the medical oxygen concentrators industry. Aging population and rising respiratory illnesses are also expected to increase demand.

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Product & Technology Insights

Oxygen concentrators are divided into two types – portable and non-portable. Non-portable concentrators are cheaper but more cumbersome and difficult to move than portable concentrators. Due to their several benefits, portable devices contributed to more than half of the total revenues in 2014. The demand for portable concentrators is expected to be further augmented by high prevalence of respiratory problems as a result of growing consumption of cigarettes, cigars, etc., increasingly by youngsters, in future.

Portable concentrators include two types of technologies – continuous flow and pulse dose. Pulse dose oxygen concentrators release oxygen only when the patient takes a breath, while continuous flow oxygen concentrators supply oxygen continuously once the device is turned on. While pulse dose devices are lighter and more compact, they cannot cater to patients who require a heavier concentration on a continuous basis. Therefore, continuous flow concentrators secured a dominant market share in 2014. However, pulse dose devices did achieve high market penetration in the same period.

Applications

Demand for medical oxygen concentrators comes from homecare and non-homecare segments. Non-homecare segment primarily comprises of hospitals and healthcare centers which are characterized by high demand due to heavy patient volume. Yet, the homecare segment accounted for more than half of the total market share in 2014. Rising air pollution levels in major cities all over the world pose a significant risk to public health. Harmful substances like nitrogen dioxide and sulfur dioxide act as trigger for asthma episodes and COPD exacerbations, adversely affecting breathing. Oxygen concentrators provide relief for sufferers traveling in high-pollution areas. This, coupled with the development of technologically superior devices will lead to future market growth.

Regional Insights

The Asia Pacific region, including nations like India, China, Australia and Japan, is foreseen to be the most promising market for medical oxygen concentrators due to factors like economic growth, developing healthcare infrastructure, burgeoning population, decreased air quality, and growing awareness levels. Latin American countries of Brazil and Mexico too, are expected to be lucrative regional markets. The main demand for medical oxygen concentrators in 2014 came from North America followed by Europe. This was due to well-developed home healthcare systems, higher disposable incomes, growing incidences of asthma, emphysema and chronic bronchitis. Additionally, agencies like European COPD coalition, European Federation of Allergy and Airways Diseases Patients Associations, American Lung Association, and American COPD Foundation, among others are working towards raising awareness levels and funds, thereby contributing to market growth.

Competitive Profile

Chief market operators include Inogen Inc., AirSep Corporation, Invacare Corporation, Inova Labs Inc., O2 Concepts, Teleflex Incorporated, Teijin Ltd., Nidek Medical, DeVilbiss Healthcare, Covidien Ltd., among others. Players are engaged in consolidation through mergers and acquisitions with the aim to increase regional penetration and offer an extensive product range. Existing players and new market entrants are taking efforts to meet consumer demand for more superior, compact and lighter devices leading to introduction of quality products at low prices.

Medical Oxygen Concentrators Market

Information Source: Grand View Research

Image Sensors Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Image sensors are devices that possess the ability to convert optical images to electric signals. Image sensors are widely used in imaging devices like digital cameras. Consumer electronics, automotive, medical, surveillance, industrial, aerospace and defense are the main application areas of image sensors. The global image sensors market in 2012 stood at around $8billion.

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Growth Drivers

The global demand for image sensors is fueled by extensive proliferation of digital cameras and mobile phones and tablets that feature cameras, growing popularity of online social media, developing telecommunications infrastructure in developing regions, innovative applications and product upgrades.

Market Segmentation

Technology

Image sensor technology falls into three categories: CCD – Charge-Coupled Device, CMOS – Complementary Metal-Oxide Semiconductor, and CIS – Contact Image Sensors. CCD sensors are equipped with several capacitors that get charged when light falls on them. A converter changes each pixel’s value to digital value. CCD sensors employ a special manufacturing process that enables the transportation of charge across the chip without distortion thereby creating high-quality, low-noise images, however consuming significant power. CCD sensors have been demanded in medical and scientific applications but are facing stiff competition from CMOS technology.

In CMOS sensors each pixel has its own charge-to-voltage conversion. The design is complex with the sensor including amplifiers, noise-correction and digitization circuits. This reduces image quality, resolution and light sensitivity. However, CMOS sensors consume less power and are inexpensive and portable. Moreover, technological advancements like Backside Illumination (BSI) are leading to better resolution and picture quality. CIS are optical flatbed scanners that do not use CCD arrays but employ a system of mirrors and lenses for projecting the scanned image onto the arrays. They are more compact and consume less power.

 Application

The most important application segment is consumer electronics, particularly digital cameras. However, the explosive growth in smartphone usage is expected to drive future demand. The automotive sector is also contributing to demand. Advanced Driver Assistance Systems (ADAS) use image sensors like Radar, Lidar, Ultrasonic, camera and night vision sensors for features like parking assistance, lane departure warning and collision avoidance systems. Consumer electronics and automotive applications secured more than 50% of the market share in 2012.

Healthcare applications like dental imaging, endoscopy, minimally invasive surgery, cardiology, and radiography will constitute the market for image sensors in future.

Growing security concerns are fueling demand for image sensors in surveillance. Image sensors enable IP surveillance cameras to create videos by capturing the light hitting the camera lens and converting it into electrical signals. These signals get recorded as video that can be viewed while monitoring the surveillance system.

Defense sector uses cameras that have image sensors capable of capturing images of fast-moving objects. An important consideration is the ability of cameras to deliver optimal performance in extreme conditions. Other requirements in this area include product durability, compactness, lightness, and low power consumption.

Geography

North America accounted for more than 30% of the global image sensors market in 2012. North America and Europe are mature markets for consumer products like compact and DSLR cameras, camcorders, webcams, etc. The main growth for image sensors in these regions will arise from replacement demand in future.

Asia Pacific will prove to be the fastest growing regional market due to factors like rising disposable incomes leading to a high number of first-time purchases of digital cameras, increasing use of smartphones, trend of sharing pictures on social media and incorporation of webcams in laptops.

Competitive Profile

Key players in the global image sensors market are large businesses like Sony Corporation, Canon Inc., Samsung Electronics, Aptina Imaging Corporation and OmniVision Technologies, Inc. These companies strive to stay competitive by creating innovative products that offer quality. Another factor determining success is the product’s ability to integrate seamlessly in the latest upgrades of end-use devices.

Sony Corporation is the market leader in global image sensors market. In an attempt to retain this position and take advantage of the expanding market for smartphones and tablets, the company, in April 2015, announced its plans to increase the production capacity of stacked CMO image sensors from about 60,000 wafers per month to approximately 87,000 wafers per month by September 2016.

Image Sensors Market

Information Source: Grand View Research