Bone Densitometers Market Scenario, Strategies and Forecast Analysis Report till 2025

September 02, 2021: The market size of global bone densitometers was worth USD 893.7 million in the year 2016 and is predicted to grow with a CAGR of 3.9% during the forecast period. The significant increase in prevalence of osteoporosis on global level is the major driving force. This has led to an upsurge in demand for efficient assessment with the use of bone densitometers. In addition, the increase in geriatric population base, which is more susceptible to metabolic bone diseases, is expected to provide lucrative growth opportunities.

The rise in osteoporosis incidence in menopausal women is anticipated to be a key growth contributor. According to International osteoporosis foundation, over 200 million females are suffering from this disease globally with 1/10th belonging to 60 years, 2/5th in 80 years’ group, 1/5th in 70 years and 2/3rd in 90 years’ age group. Moreover, every 1 out of 3 women above the age of 50 years were seen to suffer from fragility fractures once in their lifetime.

According to a report published by National Institutes of Health Osteoporosis and Related Bone Diseases, various lifestyle-related factors including smoking, alcohol abuse and sedentary lifestyle are major contributors for development of osteoporosis in males. The above mentioned factors provide a clinical urgency to reduce this disease burden and hence fuel the rate of adoption of these assessment devices to suffice early diagnosis.

Additionally, advent of technologically advanced products such as ultrasound & computer assisted densitometers and integrated digital detectors cater to the needs of technicians and physicians by reducing measurement time and facilitating easy operations. The use of ultrasound based densitometers has increased to wide range of fields including endocrinology, gynecology and various others.

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Furthermore, the increase in demand for these devices can be attributed to the collaborative initiatives undertaken by key companies for research and development of new products to enhance the diagnostic tools for advanced skeletal assessment. Also, funds for research by various healthcare organizations for development of technologically advanced products are also projected to drive the market. For instance, Lunar Expert developed by GE Healthcare provides spatial resolution leading to enhanced risk assessment and identification via advanced visualization.

Technology Insights

The largest share in the technology segment was held by axial bone densitometers with over 60.0% in 2016 as a consequence of consistent adoption rate of these devices. The fulfillment of various requirements and needs of clinicians by usage of these devices can be attributed to the increasing penetration rate of the technology. These majorly include the central dual energy x-ray absorptiometry, technology based tools which are crucial for accurate diagnostic results.

Moreover, the usage of these bone assessment devices are predicted to be a result of enhanced precision, sensitivity, optimum linearity leading to reduced variation in diagnostic performance. The above mentioned factors along with their cost effective nature are responsible for the high adoption of these by clinicians.

End-use Insights

The major share was held by hospitals in 2016 owing to the large volume of patients and frequent readmission. Moreover, sophisticated infrastructure facilitating high efficiency of diagnostic procedures with bone assessment devices is expected to drive the hospital segment.

The rise in initiatives by healthcare organizations to promote technologically advanced and sophisticated instruments for rapid result generation also serves as a key growth driving factor. In addition, hospitals in present scenario are using totally automated systems having the ability for assessment of conditions at an early stage. The aforementioned factors are predicted to positively impact the segment growth during the forecast period.

Regional Insights

The market was dominated by North American region in 2016 owing to the rising osteoporosis burden of the region. Various strategic initiatives by prominent market players for improvement of R&D capabilities and maintaining high medical standards are anticipated to drive the regional demand.

The growth across Asia Pacific region is expected to be exponential throughout the forecast period with a CAGR of xx%. The high growth can be attributed to the rise in demand to reduce the existing prevalence, increased disposable income and improvements is infrastructure of healthcare facilities. The developing economies including China and India presents a potential growth opportunity in the forecast period owing to the high awareness level related to osteoporosis care.

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Competitive Insights

The intensive competition in the industry is expected to rise throughout the forecast period as a consequence of increasing number of strategic initiatives such as new product development, R&D investments, acquisitions and mergers by prominent market players to maintain their competitive edge over the other companies.

For example, Hologic, Inc. in August 2014 received regulatory approval for horizon DXA platform in Canada having workflow efficiencies and enhanced technical capabilities. The integrated ceramic detector array and high resolution achieved by the devices helps in enhanced stability, precision, image quality and skeletal mapping.

Market Segment:

Bone Densitometers Technology Outlook (Revenue, USD Million, 2014 - 2025)

        • Axial Bone Densitometry

                • Dual Energy X-Ray Absorptiometry (DEXA)

                • Quantitative Computed Tomography (QCT)

        • Peripheral Bone Densitometry

                • Single Energy X-Ray Absorptiometry (SEXA)

                • Dual Energy X-Ray Absorptiometry (PDEXA)

                • Radiographic Absorptiometry (RA)

                • Quantitative Ultrasound (QUS)

                • Peripheral Quantitative Computed Tomography (pQCT)

Bone Densitometers End-Use Outlook (Revenue, USD Million, 2014 - 2025)

        • Hospitals

        • Clinics

Bone Densitometers Regional Outlook (Revenue, USD Million, 2014 - 2025)

        • North America

                • U.S.

                • Canada

        • Europe

                • UK

                • Germany

        • Asia Pacific

                • Japan

                • China

                • India

        • Latin America

                • Mexico

                • Brazil

        • MEA

                • South Africa

Get in touch

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Antimicrobial Coatings Market Analytical Overview, Size, Share, Growth Factors, Demand and Trends Forecast till 2025

September 01, 2021: The global antimicrobial coating market was worth USD 2.44 billion in 2015. Indian pharmaceutical companies are driving into antimicrobial market to be in line with the regulatory standards. The effect of micro-organisms on people improves health concerns owing to boost the market over the forecast period.

Industries such as food and beverages, pharmaceuticals, packaging, hospitality and private & public water treatments drive the market positively over the coming years. Hygiene and cleanliness in various manufacturing and process industries have led the rapid advancement of this industry. Micro-organisms such as parasites, germs, and microorganism which are primarily developed on the surfaces can be restricted.

Antimicrobial coatings are developed to limit the growth of micro organisms on the surface. With the advancements in health care sectors and rising concern for the increase in infection due to the environment boost the overall market growth. With the greater impact on microorganism development and survival, it is mostly used in disinfectants and cleaning agents. The market is cost effective and time efficient which are the key drivers for the industry growth. With the ever degrading immune system of today’s human species, antimicrobial coatings help in stopping the spread of germs.

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Antimicrobial coatings have been in the healthcare industry for sterilization of medical instruments to hospital associated infections, which have accounted for around 100,000 deaths in the U.S. With the application of these over children toys to everything increases, the chances of taking out even the ecological microorganism are of a concern. U.S. FDA and MHRA have raised the concern on the usage of silver in the product which can be a key hindrance for the overall demand. Copper and alloys (bronze, copper copper-nickel-zinc, and others) are an innovation as they are natural antimicrobial materials in antimicrobial surfaces as they can destroy a variety of microorganisms due to their intrinsic properties.

U.S. FDA has provided certain regulations for drug-device combinations which except to boost the market over the forecast period. They meet the safety and efficacy part based on specified requirements. In recent past, the application directly on the local surface is considered more.

Product Insights

Surface modification and coatings dominated the product segment accounting for a market share of around 55.7% of total volume in 2015. Modification and antimicrobial powder coatings are the key product segments in this market. The main concern of paint process segment is protection of the dry film against fungal and algae growth. So, biocides are used to maintain the product’s usage period and to preserve the desired look of the painted surface for a longer period.

Medical and surgical devices use the coating of silver nanoparticles which destroys the microorganism cell membranes that are used to avoid bacterial adhesion and formation of bio-film. The extended release of silver nano particles helps in killing the bacteria near the surface with low toxicity.

Application Insights

The use of antimicrobial coatings can be found in water treatment, medical and commercial purposes. Key applications include food and beverage processing, packaging, sanitary facilities and kitchen, air conditioning and ventilation systems, antimicrobial textile, construction, mold remediation and others segment. 

With the most chances of contamination and infection through the air in any process industry, AHU and ventilation systems were the market leaders with 26.8% of total volume in 2015. Rising initiatives and research by health & safety department and few private NGO to educate schools about air quality and its cleanliness taken by government is projected to boost the market over the forecast period.

Regional Insights

With over 35% of market share North American market dominated the overall regional segment. The region is expected to grow at a CAGR of 11.1% from 2016 to 2025. High living standards coupled with growing healthcare and facility expenditure in the U.S. are the major driving forces. The growth of major industries such as medical, construction, paint, automobile and food mainly in Asia Pacific region will serve as major opportunities for investment in this region.

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Competitive Insights

The industry displays oligopolistic features with a few large enterprises holding a significant share of the total revenue generated by the overall market. Some of the key companies include Pertinax Pharma, HeIQ Materials, AkzoNobel NV, Damond Vogel, Kastus, Nanograde, Dow Microbial Control and Sherwin-Williams among others.

Market Segment:

Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

        • Antimicrobial powder coatings

                • Silver

                • Copper

                • Other

        • Surface modifications and coatings

                • E. Coli

                • Listeria

                • Pseudomonas

                • Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

        • Sanitary facilities and kitchen

        • Air conditioning and ventilation systems

        • Food processing and packaging

        • Antimicrobial textile

        • Mold remediation

        • Construction

        • Other applications

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

        • North America

                • U.S.

        • Europe

                • Germany

                • UK

                • France

        • Asia Pacific

                • China

                • India

        • Central & South America

        • Middle East & Africa

Get in touch

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Email: ryan@millioninsights.com

Sterilization Equipment Market Trends, Opportunities, Size, Share, Growth, Analysis and Forecast till 2025

September 01, 2021: The global sterilization equipment market size was worth USD 4.3 billion in 2016 which is anticipated to grow at a CAGR of more than 9.5% during the forecast period. Various factors, which led to such huge market growth, include increase in the aging population, rise in the number of surgeries conducted, and surging incidences of chronic diseases. Also, there are number of changes in the government policies and regulations which in a way is helping the sterilization equipment market to grow and advance. Such changes in the policies have resulted in increase in the adoption of sterilization equipment by various hospitals and diagnostic centers.

Similarly, increase in the number of government initiatives, which are stringent enough to ensure utmost quality of the product, is making way for the sterilization equipment market to grow. Advancement in technologies of sterilization equipment such as gamma ray filtration, radiation, microfiltration and many more have created wide scope for sterilization equipment in the food industry.

Government bodies of developing countries such as Japan, Mexico, and Brazil, are making huge investments to spread awareness about the application of sterilization equipment, and thereby focusing on quality and safety. Such equipment are mainly used for sterilization and disinfection before surgeries. In regions such as Latin America, Middle East and Asia Pacific, the market is witnessing increase in foreign investments, which is leading to revenue generation for the market.

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Technique Insights

The heat sterilization technique captured the largest market share in 2016 in which hydrated state is preferred more than dry state due to its greater reliability in use. It is estimated that the low temperature market segment is expected to grow at the highest CAGR due to compatibility with thermo-labile products, lesser complex in handling and monitoring. The introduction of various advancements in technology of the equipment for sterilization technique has led to better business expansion and penetration to various regions around the globe. 

End User Insights

The hospital segment captured the largest market share in the year 2016, due to growing infection burden, rising number of surgeries performed, advancing technologies and rise in the number of patients being admitted. The ever-increasing need for quality assurance and quality control by pharmaceutical company in its manufacturing and storage processes resulted it to be the second largest segment in the global market.

Regional Insights

North America dominated the sterilization equipment industry having largest revenue share in 2016. Increasing incidences of disease caused by a number of infections, rise in the use of reusable surgical equipment, greater advancement in technology is leading to greater market share of the region.

Whereas, Asia Pacific is expected to exhibit the fastest growth during the forecast period due to increasing number of medical devices manufacturers in the region, rise in the incidences of infection, upsurge in the number of hospitals and potential scope of growth in the food and chemical industry.

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Competitive Insights

Some of the top companies operating in this industry are STERIS Corporation; Advanced Sterilization Products Services, Inc.; Getinge Group; 3M; Cantel Medical; Belimed; and others.

A huge pool of companies is focused towards advancing the sterilization equipment technology after thorough research and development in this sector. The most common strategy opted by companies are through mergers acquisitions and collaboration in order to gain the maximum market share in the industry.

Market Segment:

Sterilization equipment Technique Outlook (Revenue, USD Million, 2014 - 2025)

        • Heat sterilization

        • Low-temperature sterilization

        • Filtration sterilization

        • Radiation sterilization

        • Liquid sterilization

Sterilization equipment End-user Outlook (Revenue, USD Million, 2014 - 2025)

        • Hospitals

        • Pharmaceutical companies

        • Medical devices companies

        • Clinical laboratories/research centers

        • Others

Sterilization equipment Regional Outlook (Revenue, USD Million, 2014 - 2025)

        • North America

                • U.S.

                • Canada

        • Europe

                • Germany

                • UK

        • Asia Pacific

                • China

                • Japan

        • Latin America

                • Brazil

                • Mexico

        • MEA

                • South Africa

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: 

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com

Ophthalmic Lasers Market Analytical Overview, Size, Share, Growth Factors, Demand and Trends Forecast till 2025

September 01, 2021: The global ophthalmic lasers market size was worth USD 1.0 billion in 2016, which is anticipated to grow at a CAGR of more than 5.9% during the forecast period. Increase in incidence of chronic ophthalmic disorders is the major driving factor contributing to the growth of ophthalmic lasers market.

There is a rise in prevalence of ophthalmic disorders such as glaucoma, cataract, refractive errors, Age Related Macular Degeneration (AMD), retinal disorders and diabetic retinopathy. According to American Academy of Ophthalmology in 2014, 60.5 million people were estimated to be suffering from glaucoma globally. According to WHO, glaucoma is the second major cause of blindness in the world.

Based on the Journal of Ophthalmology, cataract is the leading cause of blindness in the world. According to New-Medical .Net, in 2015, 22 million people aged 40 years and above were affected with cataract. According to National Eye Institute, by 2050, the number of people in US with cataract is estimated to double from 24.4 million to around 50 million. Thus, with the rise in incidence of ophthalmic disorders the market is estimated to witness rapid growth during the forecast period.

According to a study conducted by PLOS, in UK approximately 54% of the people aged 40-69 years were affected by refractive error of which 27% of the people had myopia. Refractive error is a major health issue in UK. It is a genetic disorder, so the individuals whose parents are suffering from any form of refractive disorder are likely to be affected by similar disorder. Thus, the aforementioned factors are supporting the growth of the ophthalmic lasers market.

Increase in geriatric population is another key factor driving the growth of the market. This group of population is generally affected by various eye disorders. The most common eye disorders for this group are cataract and hyperopia.

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Product Insights

In the product segment, femtosecond lasers held the largest revenue share in 2016. The rising number of people affected by refractive disorders along with its use during cataract surgeries has led to the growth of the market.

Rise in technological advancements, versatility, predictability, and the unique properties offered by the femtoseconds lasers has increased its demand. Thus, newer technologies are contributing to the growth of the market.

Excimer laser is a form of ultraviolet laser, which is used for the treatment of refractive errors. For instance, Carl Zeiss Meditec AG launched MEL 80 Excimer for refractive laser surgery. This devices in combination with femtosecond laser helps in correcting refractive errors. These lasers account for a considerable share owing to its increased usage in healthcare facilities.

SLT and YAG lasers are used for the treatment of anterior segment of the eye. It helps in treatment of glaucoma, retina and corneal surgery by reducing the intra ocular pressure. Ellex Medical Lasers Limited has a wide range of SLT and YAg lasers for the treatment of eye disorders. These lasers are anticipated to grow at significant rate over the forecast period.

Application Insights

On the basis of application, refractive error corrections dominate the market in 2016. Rising incidence of refractive errors in children and geriatric population has contributed towards the growth of this segment. In addition, use of femtoseconds lasers in correcting eye disorders have also contributed to the growth of this segment.

Cataract removal is expected to witness fastest growth over the forecast period due to the increasing number of cataract removal surgeries taking place across the globe. Cataract is a common problem in the geriatric population which is the leading cause of blindness, if not given proper care at the right time.

Glaucoma is the second leading cause of blindness, if not given proper medical attention. This has eventually contributed to the increased the demand for SLT and YAG lasers. Lumenis introduced a product, Smart Select Duet, which uses the combination of SLT and YAG lasers for treating glaucoma.

Retinal disease such as AMD and diabetic retinopathy are the common problem of geriatric population. According to the American Academy of Ophthalmology, 60% of people with diabetes develop diabetic retinopathy. The major players are focussing on production of products which are helpful in correcting such eye disorders. For instance, Topcon Corporation manufactured PASCAL Synthesis System for the treatment diabetic retinopathy and AMD.

End use Insights

On the basis of the end-use, hospital held the largest market share in 2016 due to the large number of ophthalmic lasers being performed in hospitals. The rising number of hospitals in the developing countries with the support of the government also contributes to the growth of this segment.

Ambulatory surgical centres are expected to witness significant growth over the forecast period. The increasing initiatives for awareness undertaken by the government in the developing countries contributes to the growth of this segment.

Ophthalmic clinics are expected to show fastest growth over the forecast period. This is due to the rise in number of speciality clinics which can treat chronic conditions and the personal care given to the patients. Absence of trained professional who deal with the complexities arising at or during ophthalmic lasers is expected to hinder the growth of this market.

Regional Insights

North America dominated the market in 2016 due to the rising healthcare expenditure and development of healthcare infrastructure in the US. The rising incidence of diabetes in America also contributes to the growth of ophthalmic disorders which in turn is anticipated to flourish the regional market.

Europe also contributes to a significant share of the market in 2016, due to the increase in geriatric population. Increase in ophthalmic disorders among this population group is expected to support the regional market growth.

Asia Pacific is expected to show an attractive growth over the forecast period due to increase in healthcare expenditure in developing countries such as India and China. The increase in prevalence of cataract removal surgeries boosts the market growth. Moreover, increasing awareness level among people for prevention of blindness also contributes to the growth of this market.

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Competitive Insights

Some of the major players of the market include Alcon Laboratories, Inc., Carl Zeiss Meditec AG, Ellex Medical Lasers Limited, Abbott Medical Optics, Inc., Bausch & Lomb Incorporated, Topcon Corporation, IRIDEX Corporation, Lumenis, Ziemer Ophthalmic Systems AG, and NIDEK Co., Ltd.

The major strategies of the key players include mergers & acquisitions, new product development, and regional expansions. For instance, in 2015, Topcon Corporation redesigned Next Generation Pattern Scanning Laser PASCAL Synthesis with an automatic table, which helps in efficiency and space savings.

Market Segment:

Ophthalmic Lasers Product Outlook (Revenue, USD Million, 2014 - 2025)

        • Diode Lasers

        • Femtosecond Lasers

        • Excimer Lasers

        • Nd:YAG lasers

        • SLT Lasers

        • Others

Ophthalmic Lasers Application Outlook (Revenue, USD Million, 2014 - 2025)

        • Glaucoma

        • Cataract Removal

        • Refractive Error Corrections

        • Diabetic Retinopathy

        • AMD

        • Others

Ophthalmic Lasers End-use Outlook (Revenue, USD Million, 2014 - 2025)

        • Hospitals

        • Ambulatory Surgical Centers

        • Ophthalmic Clinics

Ophthalmic Lasers Regional Outlook (Revenue, USD Million, 2014 - 2025)

        • North America

                • U.S.

                • Canada

        • Europe

                • Germany

                • UK

        • Asia Pacific

                • Japan

                • China

                • India

        • Latin America

                • Brazil

                • Mexico

        • MEA

                • South Africa

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

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Ryan Manuel

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Luxury Travel Market Opportunities, Statistics and Forecast Analysis Report till 2025

August 31, 2021: With reference to the report issued by the professionals the scope of the global Luxury Travel Market was priced at US$ 1.8 trillion in 2018. It is likely to develop by a CAGR of 4.6% during the period of forecast and to touch US$ 2.5 trillion by the completion of 2025.

Drivers:

Growing per head earnings and increasing capacity of expenditure of upper and middle class customers, growth in micro journeys, increasing demand for building up of tourism memories and developing business of tourism, all over the world, are likely to motivate the global luxury travel market.

Exclusive tourists are choosing to visit the uncharted destinations to increase experience and realize the different cultures everywhere the world. Furthermore, they are scheduling exceptional journeys that consist of voyaging, adventure actions and cultural visit, in that way backing to the development of the luxury travel industry.

The latest inclination of the industry is micro trips. It is likely to increase the market within the period of forecast. Tourists are taking up additional travel plan into smaller time spans. To stopover and expend quality time for the duration of small breakouts in exclusive and extraordinary category of lodging is likely to develop popular within the period of forecast.

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Moreover, tendency of online exploration has substantially improved for many years. This is estimated to power the development of the market during the period of forecast. The contemporary smart rooms are expected to motivate the demand for luxury room and luxury travel during the period of forecast. In that way offering tourists broad sovereignty over the engagement and usage of the lodging and method of travelling. Growing usage of internet and existence of social media are performing by way of a catalytic agent for the development of the market. The travel content produced by the user is additionally effective above an old-style publicizing. What is more, storytelling of travel above the platforms of social media such as Facebook, Instagram and web sites for blogging have augmented substantially.

Classification:

The global luxury travel market can be classified by Tour, Age Group and Region. By Tour, it can be classified as: Culinary Travel & Shopping, Safari & Adventure, Small Ship, Cruises & Yachting Voyages, Private & Customized Holidays, Celebration Trips and Others. By Age Group, it can be classified as: Silver Hair, Generation X, Baby Boomers, and Millennial.

Regional Lookout:

By Region the global luxury travel industry can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. During the year 2018, North America appeared such as the biggest provincial market. This development is estimated to remain over the period of forecast. The U.S.A. was the biggest shareholder of this market in 2018. It had a share of 85.5% in the business of North America region because it is an international monetary center along with one of the maximum prevalent tourist destinations for persons all over the world. Growth in undersized trip above extended haul trips is likely to power the development of the market within the region during the period of forecast.

Asia Pacific is estimated to appear such as the speedily developing provincial market during the period of forecast. Increase in the power of expenditure and refining lifestyle are some of the important reasons accountable for enticing customers to luxury travel. Demand for luxury travel for holiday journeys, corporate occasions and corporate holidays is increasing because additional money is getting inserted into the economy. The nations facing financial crunches, governmental unpredictability and strict rules for Foreign Direct Investment (FDI) are expected to observe stable or else sluggish development within the market.

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Companies:

The companies operating in the market are arriving into mergers & acquisitions (M&A) in addition to tactical partnerships to increase their geographic presence. For example, in July 2015, Lindblad Expeditions, Inc. merged with Capitol Acquisition Corp. II, in July 2015. This will assist it to have remarkable development openings during upcoming years. It comprises building of new-fangled ships and long term contracts. In partnership with National Geographic, Lindblad, is a global front-runner in experiences of luxury travel and voyage travelling.

Some of the important companies for luxury travel market are: Lindblad Expeditions, Cox & Kings Ltd., Butterfield & Robinson Inc., TUI Group, TCS World Travel, Exodus travels, Scott Dunn Ltd., Mica to Safaris, Abercrombie & Kent USA and TÜ Elite.

Market Segment:

Luxury Travel Tour Outlook (Revenue, USD Billion, 2015 - 2025)

    • Customized & Private Vacations

    • Safari & Adventure

    • Cruises, Yachting & Small Ship Expeditions

    • Celebration Journeys

    • Culinary Travel & Shopping

    • Others

Luxury Travel Age Group Outlook (Revenue, USD Billion, 2015 - 2025)

    • Millennial

    • Generation X

    • Baby Boomers

    • Silver Hair

Luxury Travel Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

        • U.S.

    • Europe

       • U.K.

       • Germany

    • Asia Pacific

       • India

       • China

    • Central & South America

       • Brazil

    • Middle East & Africa

       • South Africa

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

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Ryan Manuel

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Email: ryan@millioninsights.com

Cyber Insurance Market Opportunities, Growth Drivers, Trends, Statistics and Forecast till 2025

August 31, 2021: In line with the report published by the authorities the scope of the global Cyber Insurance Market was priced at US$ 4.3 billion in 2018 and it is anticipated to touch US$ 19.2 billion by 2025. It is estimated to record a CAGR of 25.6% during the period of forecast.

The cyber insurance is likewise named as cyber liability insurance or else cyber risk insurance coverage. This is intended to assist the association to decrease the exposure to risk by way of counteracting the prices involved with retrieval from a breach of cybersecurity.

The maximum insured common risk is breach of data. Cyber insurance comprises security from legal actions associated with the breach of data for example technical lapses errors and oversights.

The technology has turned into an essential part of our lives particularly by way of the development in this specific segment. The technology has originated an extensive way, starting from computers to artificial intelligence. Furthermore, this development has caused to a number of terrorizations, cyber threats are amongst one. These days the modern insurance companies and banks have introduced Cyber security to altogether the Large, Small and Medium sized businesses. This market is on a budding phase, presently, but during the period of upcoming years it will gain its speed.

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Drivers:

One of the foremost reasons motivating the cyber insurance industry is the present susceptibilities in supply chain that can be abused by way of hackers. This has importantly augmented the previous challenges in the management of supply chain. Just in case of a breach in the delicate data of the supply chain, industries experience a reduction in sureness of the customer, smash in the prices of stock, consequences, and lawful overhead.

All over the world the businesses were the major objectives of an operation of cyber extortion. The ransomware was spread to some million systems in almost all nations of the world by way of developing a particular weakness inside the systems. This has been one of the maximum famous cyber disasters ever confronted. This attack affected segments for example healthcare and manufacturing. This kind of attacks are motivating the cyber insurance market, by way of companies taking actions for getting equipped for the imminent damages.

Restraints:

The cyber insurance industry is observing an interruptions in its development on account of unproductive risk valuation of cyber events that have given rise to corporeal impairment in the previous period and likewise owing to the greater priced premiums of an insurance. Additionally, the absence of understanding regarding the business and cyber insurance cause to sedentary decision creation from the management. This obstructs the development of the market for cyber insurance.

Classification:

The global cyber insurance market can be classified by Application, Organization, Service and Region. By Application, it can be classified as: IT & Telecom, BFSI, Retail, Manufacturing and Healthcare. By Organization, it can be classified as: Large Enterprise, Small & Medium Enterprises (SMEs). By Service, it can be classified as: Risk Consulting, Insurance, and Claim Service.

Regional Lookout:

By Region the global cyber insurance industry can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. In 2018, the North American market was responsible for the biggest share of revenue. The development of the province can be credited to the existence of noticeable companies for example Lockton Companies, Inc., The Chubb Corporation and American International Group, Inc. Additionally, increasing cognizance of cyber insurance between SMBs is likely to motivate the demand during the period of forecast.

Asia Pacific is estimated to develop by the maximum CAGR during the period of forecast. In developing nation state similar to China, India and Australia the cybercrimes are growing day by day. In the global economy, the growing prominence of Asian nation states has drawn attention of the government and forced these evolving financial prudence to increase their cybersecurity. This has fortified the providers of cyber insurance to possibly take advantage of the occasion by way of proposing policies for hazards and guaranteeing cyber products to build up security policies of businesses.

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Companies:

The companies operating in the market are taking advantage of the developing online threat background and proposing essential resolutions to decrease the undesirable influence of cyberattacks. The prominent companies are evolving inventive methods to evaluate the cyber risk of the client because it would permit them in providing personalized terms and conditions in the insurance assistances.

The existence of inadequate recognized insurance suppliers upsurges the attractiveness of the market. Furthermore, increasing necessity for cybersecurity is expected to generate a considerable opening for insurers to upsurge the acceptance of cyber insurance and shape trust of the customer.

Some of the important companies for cyber insurance market are: Zurich Insurance Co. Ltd., Munich Re Group, Lockton Companies, Inc., Allianz Group, AON Plc, XL Group Ltd., The Chubb Corporation, and Berkshire Hathaway, American International Group, Inc.

Market Segment:

Cyber Insurance Organization Outlook (Revenue, USD Billion, 2015 - 2025)

    • SMB

    • Large Enterprise

Cyber Insurance Application Outlook (Revenue, USD Billion, 2015 - 2025)

    • BFS

    • Healthcare

    • IT & Telecom

    • Retail

    • Others

Cyber Insurance Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • U.K.

        • Germany

    • Asia Pacific

        • China

        • India

        • Japan

    • Latin America

        • Brazil

    • Middle East & Africa

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Contact Person: 

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com

Mattress Market Opportunities, Statistics and Forecast Analysis Report till 2025

August 31, 2021: In line with the report published by the experts in 2018, the scope of the global Mattress Market was appreciated at US$ 27.5 billion. It is estimated to grow by a CAGR of 6.7% during 2019 to 2025 to touch US$ 43.2 billion by the completion of forecast period.

Drivers:

The gush in home possessions, which is approximately 69.6% all over the world together with increasing per head earnings is likely to power the demand for the mattresses during the period of forecast. Increasing demand from the subdivision of real estate to help the housing necessities has headed to a rise in sale of home-based furnishings for example bed linen, pillowcases and mattresses. As a consequence, increasing the demand for the product. One of the most important reasons motivating the global mattress industry is progress of the hospitality and healthcare businesses.

Augmented occurrences of back problems instigated mostly by way of painful sleeping surfaces are expected to perform an important part in the development of specialty mattresses for example foam-based, airbed and waterbed. These are mostly used by innovative hospitals, together with modernized old healthcare organizations, that have backed considerably to the demand for these types to deliver comfort to all type of patients and the concierges. The innerspring type is reasonably priced and easily available. It will boost up the demand all over the world. In 2018, it had a market share of 32.5%.

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In the subdivision of commercial usage, the hotels are the foremost end users of mattresses. As compare to residential users, the hotels change it more frequently. Normally, domestic users use their mattresses for 9-10years and then change it. However, for the subdivision of hospitality it takes all-out 5-6 years to change their mattresses. Therefore, the commercial sector is estimated to grow by a CAGR of 7.1% during the period of forecast as equated to the subdivision of domestic use.

Classification:

The global mattress market can be classified by Application, Product, Size and Region. By Application it can be classified as: Commercial, Domestic. By Product, it can be classified as: Memory Foam, Innerspring, and Latex. By Size, it can be classified as: King Size, Queen Size, Double Size and Single Size.

Regional Lookout:

By Region the global mattress industry can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. With reference to price, the Asia Pacific market is projected to increase by a CAGR of 7.3% during the period of 2019 to 2025. Owing to the arrival of brands similar to Kurl-On, Stearns & Foster and Dunlop, the demand in the market is expected to increase, all over the world, particularly for the subdivision of latex and innerspring. Due to the huge population in the nation states similar to China, India and Sri Lanka, Asia Pacific is between the biggest customers for the product. In this manner heading to the better demand for the product.

Furthermore, greater per head earnings is expected to motivate the global mattress market in emerging nation states of Asia Pacific and Latin America for example Brazil and India .Brazil takes the most important share of the market for the memory foam and latex, because the consumer has the experience of superior comfort of sleep and therefore the hotels within these areas take a greater demand for these type. For example, At the Edsa Shangri-La Hotel in Manila, Paramount Bed Asia Pacific Pte., Ltd. underway their business with variance trading to deliver best quality mattresses on a contract base.

Due to growing swing of the customers in the direction of big houses and increasing favorite for many bedrooms in the house, the European market is likely to observe substantial development during the period of approaching years. In the subdivisions of hospitality and healthcare, within this region, the demand for the product is greater. In the subdivision of healthcare industry the demand for it is increasing in hospitals, nursing homes and clinics. For example, Feather & Black and Bensons for Beds are manufacturing first-class products in reasonable price range for the subdivision of domestic use and accordingly enhancing the sales in the most important European cities.

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Companies:

Several manufacturing companies are increasing their capacity of manufacturing and firming up their worldwide existence with the aim of upsurge their share of market. The companies are developing hybrid mattresses because the users are ready to bear additional prices. Such as in January 2018, Serta Inc. presented a new-fangled collection called I Comfort, those were prepared by means of hybrid technology.

Some of the important companies for mattress market are: McRoskey Mattress Company, Southerland Inc., Serta Inc., Simmons Bedding Company LLC, Kings down Inc., Corsicana Mattress Company, Rely on Limited, Tempur Sealy International Inc., Sleep Number Corporation and Spring Air International.

Market Segment:

Mattress Product Outlook (Revenue, USD Billion, 2015 - 2025)

    • Innerspring

    • Latex

    • Memory Foam

    • Others

Mattress Application Outlook (Revenue, USD Billion, 2015 - 2025)

    • Domestic

    • Commercial

Mattress Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

        • U.S.

    • Europe

        • Germany

        • U.K.

    • Asia Pacific

        • India

        • China

    • Central and South America

        • Brazil

    • Middle East and Africa

        • Saudi Arabia

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: 

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com