Industry Research Report

Friday, 3 April 2020

Natural Food Colors Market Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast 2026

The global natural food colors market size is expected to reach USD 2,984.9 Million by 2026 according to a new study by Polaris Market Research. The report “Natural Food Colors Market Size, Share & Trend Analysis Report, By Type (Carmine, Curcumin, Paprika, Turmeric, Beet, Anthocyanins, Caramel, Annatto, Carotenoids, Chlorophyll, Spirulina, Others); By Form (Liquid, Powder, Gel, Emulsion); By Application (Bakery & Confectionery, Beverages, Dairy Products, Frozen Products, Meat Products, Others), Regions and Segment Forecasts, 2020- 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

With leading market players holding significant market share, the market remains highly consolidated. Leading players of the natural color industry, while expanding their distribution network, continue to make heavy investments in research and development. The need for a wide range of products and a broader network creates high entry barriers to the market for natural colors of foods, making consolidating market positions difficult for local and regional players.

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Food coloring is still playing a major role in the market, with companies still attracting consumers with attractive food colors. Various surveys show that food coloring remains of vital importance on the F&B market as consumers continue to base their assessment on food coloring. While the use of synthetic colors continues, recent research on the association of various health issues with synthetic food color consumption has brought the safety of the ingredients into question by consumers.

The key market trend in the current natural food colors is increased stability and function. The main aim of the manufacturers is also to create natural, powdered food colors especially in yellow, orange and brown. This is due to the use for ready-to-eat meals, sauces, and noodles and of a large amount of seasoning consumption. Herstellers are looking forward to develop a new natural food color source at a low cost. They are concentrating on developing new drying methods and materials that enable powder stability innovation at a competitive cost. As a result, food manufacturers are investing in clean labels, thereby bringing in newer products or revising existing product portfolios through the incorporation of clean label food colors. The result is a growing need for a number of products which bear claims such as “natural.”

Increased government aid is expected to boost the growth of the market in Asia Pacific in turn to encourage the adoption of natural food colors in different food and beverage applications. During the forecast period, the demand for natural colors in China and India is expected to increase. The launch of new products with natural ingredients is a key reason for this. Carmine is the most popular pigment in Asia-Pacific in red colors, while beta carotene and carotenoids are preferable in orange and yellow colors.

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The world market for food colors is divided into types, form, applications and geographic areas. It is bifurcated into carmine, curcumin, paprika, turmeric, beet, anthocyanins, caramel, annatto, carotenoids, chlorophyll, spirulina, and others based on the type. The form segments is further bifurcated into liquid, powder, gel, emulsion. The application section is further segmented into bakery & confectionery, beverages, dairy products, frozen products, meat products, and others. According to regions, the market has been analyzed on a country level throughout North America, Europe, Asia-Pacific and Latin America and Middle East & Africa. The maximum development rate on the global market is expected to occur in Asia Pacific due to high demand from economies such as India, South Korea, China, etc.

Some of the important players profiled in the report include Archer Daniels Midland Company (U.S.), Allied Biotech Corporation, BASF SE (Germany), CHR Hansen Holding A/S (Denmark), D.D. Williamson & Co., Inc. (U.S.), Diana Naturals, Dohler Group (Germany), DowDuPont (U.S.), Fiorio Colors S.R.L (Italy), FMC Corporation (U.S.), Food Colour Innovation S.L. (Spain), GNT Group (The Netherlands), IFC Solutions. (U.S.), Kalsec Inc. (U.S.), Kolorjet Chemicals Pvt.Ltd. (India), Koninklijke DSM N.V. (The Netherlands), Lycored Ltd. (Israel), Naturex S.A. (France), Phinix International (India), San-Ei Gen F.F.I., Inc. (Japan), Sensient Technologies Corporation (U.S.), Vinayak Ingredients India Pvt. Ltd. (India) among other notable players.

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Thursday, 2 April 2020

fire safety equipment market size is projected to reach USD 114.1 billion by 2026 growing at a CAGR of 9.1% from 2019 to 2026

The global fire safety equipment market size is projected to reach USD 114.1 billion by 2026 growing at a CAGR of 9.1% from 2019 to 2026, according to a new research report published by Polaris Market Research. The report “Fire Safety Equipment Market Share, Size, Trends, Industry Analysis Report By Product Type (Fire Detection, Fire Suppression, Fire Analysis, Fire Response, Others); By Technology (Active Fire Safety, Passive Fire Safety); By End-User (Commercial, Residential, Industrial, Others) By Region, Segments & Forecast, 2019 – 2026” provides a wide-ranging assessment of the market with insights on the current and future market trends.

Increase in casualties of life and property due to fire related incidents has led to importance of fire safety systems in multiple industries. Strict government enforcements and regulations related to workplace safety, and rise of automation due to smart homes/building projects are factors further contributing to the growth in adoption of fire safety equipment. Also, safety concerns have compelled strict adherence to building safety codes. Moreover, ever increasing demand from industries including oil and gas, mining has further enhanced the market growth. Emergence of new technologies such as scada solutions and wireless sensor networks provide significant growth opportunities in this market. However, high initial investments required for installation of fire safety equipment might limit the market growth in some cases.

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The oil and gas, and mining sector involves high risk and is exposed to fire accidents due to presence of highly inflammable and combustible material including oil, gasoline, etc. To tackle and avoid such accidents, proper fire detection and prevention equipment are mandatorily required. Vendors are increasingly investing in developing new fire suppression systems to protect critical environment and investments across the sites. It is observed that risk management strategies are increasingly becoming an integral part across in oil and gas facilities; as a part of these strategies high quality fire safety installations are gaining traction in the market.

During 2018, North America region account for the highest share amongst all regions in the fire safety equipment market. This growth in this region attributed to introduction of stringent government regulations related to workplace safety and adoption of fire protection technology. Also, growing demand from manufacturing and mining industries has contributed to the rise in adoption of fire protection systems across North America. While, the increasing adherence to building safety codes along with the rise in automated systems in buildings further supports the market growth. Asia Pacific regional market is expected to grow at the highest CAGR during the forecast period majorly due to high growth in industrial and manufacturing sectors. Moreover, continual growth in demand from healthcare, mining, and commercial sectors provides further opportunities for market growth in this region.

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Some of the key players profiled in the fire safety equipment market report include Honeywell, Hochiki Corporation, Minimax Viking, Gentex Corporation, United Technologies Corporation, Siemens Building Technologies, Johnson Controls, Halma, Securiton AG, Tyco International.

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Smart Agriculture Market 2020 Regional Outlook, Segments And Forecast 2026

The global smart agriculture market is projected to reach USD 20,635 million by 2026 growing at a CAGR of more than 14% from 2019 to 2026, as per a new research report published by Polaris Market Research. The report ‘Smart Agriculture Market, [By Component (Hardware, Software, Services); By Application (Precision Farming, Yield Monitoring, Soil Monitoring, Irrigation System, Fish Farming, Horticulture, Livestock Monitoring, Smart Greenhouse, Others); By Region]: Market Size & Forecast, 2019 – 2026’ offers a wide analysis of different applications in smart farming along with insights related to current and future trends in the market.

During the last decade, the agriculture industry has undergone enormous transformation due to ever increasing demand for sustainable practices in farming. Multiple companies are involved in developing sustainable solutions and systems for farming. Also, it is observed that due to benefits of smart agriculture solutions, farmers gain the capability to improve yield via optimizing inputs and well-organized management of their farms. These factors have collectively resulted in rapid deployment of the smart farming solutions in various applications. Consequently, significant growth is anticipated in this market owing to the attractiveness of well suited and smart agriculture solutions over the risks associated with traditional farming methods.

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Growth in population, and increasing preference towards automation of farm operations is expected to further support the market growth. The need for automation in faming operations is driven by the capability of improvement in produced crop quality, maximization of crop production, and enhanced productivity. Increased necessity to monitor livestock, along with the need to minimize the use of pesticides and fertilizers further boosts the adoption of smart agriculture. Other factors driving the growth of smart farming market include growth in the global agricultural industry, reducing availability of labour, and high labour costs. However, high initial investment costs associated with adoption of smart agriculture systems might restraing the growth in this market. Demand from emerging economies coupled with technological advancements are factors expected to present numerous opportunities for the growth in smart farming market during the forecast period.

North America accounted for the highest revenue share among all regions in the smart farming market during 2018. This is primarily due to high market penetration in U.S. and is further supported by extensive R&D activities by companies and presence of proper regulatory environment in this region. The different components used in precision farming include hardware, software, and services. During 2018, the hardware component segment accounted for the largest share in this market due to popularity and demand of hardware components such as Automation & control systems, sensing devices, LED grow lights, and HVAC systems which are widely used in farms to increase crop yield and improve productivity.

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Some of the key players profiled in the smart farming market report include AG Leader Technology, AGCO Corporation, Trimble Inc., Precision Planting, Inc., AgJunction, Inc., Agribotix LLC, Deere & Company, The Climate Corporation, Autonomous Solutions, Inc., Drone Deploy, Raven Industries, CLAAS KGaA mbH, and CNH Industrial. Due to presence of higher amount of small and medium sized companies along with the large enterprises operating in this space, the market is observed to be highly fragmented.

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Powder Coatings Market Growth Prospect, Future Trend, Comprehensive Analysis and Forecasts 2026

The Global Powder Coatings Market is anticipated to reach USD 16.85 billion by 2026 according to a new study published by Polaris Market Research.

Shifting trend towards usage of powder coatings in place of PVDF liquid due to higher utilization rates, easy application and lower impact on environment is expected to boost the global powder coatings market over the forecast period. Due to the heavy impact of volatile organic compounds (VOCs) on the environment, various regulatory bodies and governments have implemented strict regulations on the usage of solvent based conventional coatings, which in turn having an effect on the rising demand of powder coatings.

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Various advantages of using powder coatings including better finishing capabilities and lower thickness of films is also boosting the demand for powder coating across the globe. The thickness of films has a significant effect on the production costs, hence the thinner films cause decreased manufacturing costs for specific application areas including automotive parts, coils, and cans among others. For example, PPG industries has launched a product named Envirocron, which increases the transfer efficiency for applications such as aluminum extrusion and metal furniture among others.

Asia-Pacific is expected to hold the largest share in global powder coatings market followed by Europe. North America is estimated to stay in the third position throughout the forecast period after Asia-Pacific and Europe both in terms of volume and revenue. Growing demand for furniture, growing urbanization and subsequently expanding retail industry is anticipated to be the major driving factors boosting the Asia-Pacific powder coatings market. As per Polaris Market Research, the Asia-Pacific furniture market is expected to grow at a CAGR of 5.9% from 2018 to 2026, which is estimated to boost the demand for powder coatings in the region.

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The major drivers boosting the global powder coatings market are low negative impact on environment, low film thickness and booming automotive industry among others. Higher maintenance cost is acting as one of the major restraints for the growth of the market. The usage of aluminum extrusions is highly common in North America, specifically in the architecture segment. According to a study conducted by Polaris Market Research, the global architectural coatings market was pegged at USD 47.34 billion in 2015, majority of which includes powder coatings. According to The Asian Development Bank (ADB), 55% of Asian population will be in cities by 2030 and the urban population in Asia has grown by 44 from 2015 to 2017, which is boosting the demand for furniture, cars as well as architecture, which in turn is driving the powder coatings market.

Sherwin-Williams had top the company market share in North America during 2016, followed by PPG Industries. This two companies combined had a share of almost 60% in North America during 2016. While, PPG industries captured over 60% company market share in case of Asia-Pacific during 2016, followed by Nippon. The top players operating in the Europe market are PPG Industries, AkzoNobel, Tikkurila, Caparol and Materis among others.

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Nutricosmetics Market Size, Future Forecasts, Growth Rate, and Industry Analysis

Nutricosmetics are supplements, that are oral based and is used for maintaining skin health that is an essential part of overall beauty of the body. One of the major factors driving the growth of global nutricosmetics market is the growing consumer awareness in case of personal care and grooming coupled with increasing disposable income. Nutricosmetics are substances which are majorly used to treat skin, hair and nail defects among others. In addition, this supplement is also used to protect the body from UV ray. Different substances which are used as nutricosmetics are vitamin C and E, beta carotene, polypodium leucotomes and tea polyphenols among others. Europe has held the largest market for nutricosmetics in 2017 and is expected to top the market over the forecast period.

Global Nutricosmetics Market generated USD 4.73 billion in 2016 and is anticipated to grow at a CAGR of 11.43% during the forecast period indicates a new report published by Polaris Market Research.

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Consumer preference towards grooming and a overall healthy lifestyle is expected to boost the global nutricosmetics market. On the other hand, lack of awareness and higher cost is acting as a restraint for the growth of the market in some of the developing nations. The global nutricosmetics market is segmented on the basis of product types, forms and application. In case of product types, vitamins held the largest market share in 2016 and is expected to hold the largest market share over the forecast period, followed by omega-3 fatty acids. Skin care is expected to hold the largest market share among the application segments throughout the forecast period of more than 35%. Rising consumer awareness regarding grooming and skin health coupled with busy lifestyle is having an impact on the growing skin care nutricosmetics segment. The global nutricosmetics market is segmented on the basis of product types, forms and application. In case of product types, vitamins held the largest market share in 2016 and is expected to hold the largest market share over the forecast period, followed by omega-3 fatty acids. Skin care is expected to hold the largest market share among the application segments throughout the forecast period of more than 35%. Rising consumer awareness regarding grooming and skin health coupled with busy lifestyle is having an impact on the growing skin care nutricosmetics segment.

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Some of leading industry participants include Croda International Plc, Pfizer Inc., Sanofi-Aventis, Lucas-Meyer Cosmetics, BASF SE, ExcelVite, Denomega Nutritional Oils AS, GlaxoSmithKline, Isocell SA and Funtionalab Inc. among others.

The demand for collagen as a nutricosmetic ingredient is expected to remain high throughout the forecast period. However, consumers are looking for some natural alternative of collagen. Due to this fact manufacturers are focusing on using vegan-friendly ingredients to produce nutricosmetics. Some of the non-animal sources been used by the manufacturers are bamboo silica, gooseberry extracts, white tea antioxidants and vegan phytoceramides among others.

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Paints and Coatings Market Growth Prospect, Future Trend, Comprehensive Analysis and Forecasts

New York City, 2 April 2020: The Global Paints and Coatings Market is anticipated to reach USD 286.54 billion by 2026 according to a new study published by Polaris Market Research.

Global paints & coatings industry is expected to grow significantly over the forecast period from 2018 to 2026 owing to numerous advancements that is driven by a strong rebound in worldwide building, construction, manufacturing primarily in Western Europe, North America and Japan are projected to augment demand for architectural paints & coatings. Demand from automobile, chemical, general industrial manufacturing etc. will also grow at a higher pace in comparison to its counterparts that will benefit from an improved outlook of higher vehicle production annually along with increasing industrial activities that encompass the use of paints & coatings.

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Increasing demand for these products in automobiles owing to its growing popularity of protecting the architectural or non-architectural surfaces from extreme heat, acid rain, dust, UV radiations etc. along with its inherent characteristics of enhancing appearance are projected to be the major factors driving the demand for paints & coatings. These products used for paint or coat surfaces of buildings, automobiles, pipelines, wood, packaging products, marine vessels or any surface are capable of producing long-lasting surfaces in satisfying customers’ needs along with maximizing efficiencies, enhancing appearance and meeting environmental regulations..

Some of leading industry participants include Akzonobel N.V., BASF Coatings GmbH, Kelly-Moore Paints, Indigo Paints Pvt Ltd, Vista Paints Corporation, Diamond Vogel Paints, Sacal Inetrnational Group Ltd., Tiger Coatings GmbH & Co. Kg, Dunn-Edwards Corporation, Beckers Group, Masco Corporation, S K Kaken Co., Ltd, Shalimar Paints, Berger Paints India Limited, Hempel A/S, Tikkurila OYJ, Valspar Corporation, RPM International Inc, Kansai Paints Co., Ltd., Asian Paints Limited, Nippon Paint Holdings Co., Ltd., Jotun A/S, Axalta Coating System LLC, Sherwin-Williams Company and PPG Industries.

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The present trends of paints & coatings and its application process are aggravated by its shrinking cost of manufacturing, delivering buyer satisfaction by means of corrosion protection and enhancing aesthetic features, along with mitigating environmental concerns. Tremendous quantity of consideration has already been put into the current used paints & coating systems, and they carry a level of sophistication that has been satisfying most customers globally. The advent of the new smart coatings and paints has almost alleviated the problem of corrosion, appearance and durability of components wherever these are applied making them perfectly acceptable for lifetime. The emergence of two-layer topcoats worldwide and the gloss, color, and chip resistance offered by these products remains functional in its first seven to ten years of use. These advantages associated with the products are the primary reasons anticipated to drive the market.

These products confront to almost every limitless environmental assaults. Targeting specific customers’ expectations, along with maximizing the efficiencies and compiling environmental regulations with the new processes, are expected to augment demands for these products.

Asia Pacific was the largest regional market in 2017 and it is expected to emerge as the fastest growing regional industry. The region is anticipated to account for the maximum share of the overall worldwide market in terms of consumption. The robust increase in product demand from the Chinese economy and the emerging markets of the region including India, Vietnam, Thailand, and Indonesia are the major trends.

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Healthy Snacks Market Growth Prospect, Future Trend, Comprehensive Analysis and Forecasts 2026

The Report “Healthy Snacks Market [By Product Type (Dried Fruit Snacks, Meat Snacks, Cereal and Granola Bars, Nuts and Seeds Snacks, Others); By Distribution Channel (Offline, Online); By Regions]: Market size & Forecast, 2017 – 2026 “the Global Healthy Snacks Market is anticipated to reach around USD 40,699 million by 2026. In 2017, the cereal and granola bars segment dominated the global market, in terms of revenue. In 2017, Europe accounted for the majority share in the global healthy snacks market.

The rapid increase in the obesity rate of the global population majorly drives the growth of healthy snacks market. Growing concerns regarding healthy eating habits and increasing disposable income in developing regions support the market growth. The consumers are increasingly consuming snacks with a high content of fiber, calcium, protein, whole grains, vitamins, and minerals. There has been an increasing demand of snack products, which enable consumers to maintain weight, provide nutritional requirements, and align with their health goals. Major factors for increased demand include an additional source of protein and other nutrients. However, the high costs of healthy snacks limit the growth of the market. New emerging markets, emerging consumer demographics, and sale through online channels would provide growth opportunities for healthy snacks market in the coming years.

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Top Companies Player PepsiCo Foods, Nestlé S.A., General Mills, The Kellogg Company, The Kraft Heinz Company, Herbalife Ltd., Nutrisystem Inc., Mondelez International, Inc., Hormel Foods Corporation, Tyson Foods, Inc., Calbee Inc., and B&G Food Inc. among others.

Increasing incidences of health disorders related to obesity have resulted in increased awareness regarding healthy eating habits. The growing digitization and access of information has further increased consumer awareness. Health and fitness consciousness is also increasing in countries such as China and India due to improving lifestyle and changing food habits. Consumers are tracking their nutritional intake, and consuming healthy snacks, thereby supporting market growth. Leading players in the market are also taking initiatives to increase awareness among consumers through health subscription and other marketing campaigns

Asia-pacific is expected to grow at the highest CAGR during the forecast period. A significant rise in the obese population has been registered over the past few years in Australia, China and Japan among others. The obese and geriatric population is increasing in this region, increasing the demand of healthy snacks in the region. The sedentary lifestyle coupled with hectic work schedules is encouraging consumers to adopt healthy snacking options to meet their nutritional requirements. Increasing awareness regarding the health benefits of healthy snacks and rising disposable incomes in developing countries of this region augment the market growth in the region. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.

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The various types of healthy snacks include dried fruit snacks, meat snacks, cereal and granola bars, nuts and seeds snacks, and others. The cereal and granola bars segment is expected to lead the market during the forecast period owing to increasing demand of on-the-go nutritious snacks. Additional features such as better taste and increased filling capacity further encourage its consumptions. These bars provide instant energy, thereby increasing its demand among sportsmen.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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Tumor Ablation Market Development History, Current Analysis and Estimated Forecast to 2026

New York City, 2 April 2020: The Global tumor ablation market is anticipated to reach USD 1.9 billion by 2025 according to a new study published by Polaris Market Research. Ablation is treatment for the destruction of liver tumors without removing them. These techniques is used in patients with few small tumors and when surgery is not a worthy option due to reduced liver function or poor health condition. These treatments is sometimes used in patients waiting for a liver transplant. Generally, tumor ablation is a minimally invasive surgical method to treat solid cancers. Special probes are used to freeze or burn cancers without the surgery. Ultrasound (US), Computed Tomography (CT), or Magnetic Resonance Imaging (MRI) are used to guide and position the needle probe into the tumor. The most common cancers treated by this method are lung cancer, liver cancer and kidney (renal) cancer. Other cancers can also be treated if the tumor cell are accessible to reach and of appropriate size

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The global tumor ablation market is driven by the factors such as rising occurrence of different forms of cancer, technological advancements in the field of tumor ablation for cancer treatment, and rising awareness concerning the benefits of ablation procedures over conventional or traditional surgical procedures. Moreover, rising number of ablation centers, surgical centers, and hospitals are driving the growth of tumor ablation market globally. Additionally, the continual developments in ablation expertise, leading to the increased development of new and pioneering products that are the efficient, safe, and minimally invasive are also advancing towards significant growth of the global tumor ablation market.

With the increasing geriatric population, the demand for minimally invasive surgeries (MIS) is increasing globally. Through minimally intrusive surgeries, the patients result in faster recovery in comparison to conventional invasive procedures. Therefore, the demand for minimally invasive procedures such as radiofrequency ablation and cryoablation is increasing and thereby augmenting the global market growth.

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The global tumor ablation market is segmented on the basis of type of technology, mode of treatment, and application. On the basis of type of technology, the global tumor ablation market is segmented into Radiofrequency (RF) ablation, Microwave ablation, Cryoablation, and others. The radiofrequency ablation is estimated to dominate the global tumor ablation market owing to its design of treating target tissues without causing damage to the surrounding healthy cells. However, microwave ablation technology is expected to grow at the rapid test rate in the upcoming years, due to increasing adoption of microwave tumor ablation among healthcare specialists.

On the basis of the type of technology, the global tumor ablation market is further categorized into surgical ablation, laparoscopic ablation, and percutaneous ablation. Moreover, on the basis of application the market is segmented into liver cancer, lung cancer, kidney cancer, bone metastasis, and others. Lung cancer is anticipated to grow with the fastest rate in the forecast period due to growing prevalence of lung cancer cases and increasing private as well as government investment to develop new lung cancer ablation products.

Some of the key players operating in global tumor ablation market are EDAP TMS S.A., St. Jude Medical Inc., BVM Medical Ltd., SonaCare Medical LLC, AngioDynamics Inc., Boston Scientific Corp., BTG International Ltd., Integra LifeSciences Holdings Corp., and Medtronic plc. among others.

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Ultrasound Devices Market Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast

New York City, 2 April 2020: According to a new research published by Polaris Market Research, the ultrasound devices market is anticipated to reach over USD 12,556 million by 2026. In terms of revenue, the diagnostic devices segment dominated the global market. Geographically, North America is expected to be the leading contributor to the global market revenue in 2017.

The rapidly increasing geriatric population with several chronic diseases and the lower cost and relative safety of ultrasound devices are together boosting the market growth. Increasing awareness among patients regarding early diagnosis coupled with government initiatives aimed at spreading awareness among the masses regarding breast cancer, regular check-up during pregnancy and other health related issue are boosting the market growth.

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Several technological advancements such as enhancing image quality and increasing portability has made ultrasound devices accessible to a larger user base. Also, several private and public institutions are investing in research and development in the field of ultrasound imaging. Improving healthcare facilities and increasing disposable incomes in developing countries is further fuelling the market growth. However, stringent FDA regulations and lack of trained professionals have limited the market penetration of this technology. Furthermore, several developing countries prohibit the use of ultrasound for gender determination which in turn impedes that industry growth. Identification of newer fields of application and untapped markets in developing countries would provide several opportunities for growth in the near future.

North America was the highest revenue generating region in 2017 and is expected to head the global market during the analysis period. The large patient pool, favorable reimbursement policies, well-defined government and healthcare policies, widespread adoption of remote patient monitoring and healthcare services drive the market growth in the region. Asia-Pacific is expected to exhibit the fastest growth during the forecast period owing to improving medical facilities, increasing disposable income and rapidly increasing patient pool in emerging countries such as China, Japan, and India.

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The types of ultrasound devices include diagnostic and interventional devices. In 2017, the diagnostic devices segment accounted for the highest market share owing to government initiatives to carry out routine check-ups and increasing adoption of fetal health monitoring. The improving medical facilitates and increasing demand due to rising number of patients, especially in developing countries, supports the market growth in this sector.

The key players profiled in this report include Toshiba Medical Systems Corporation, SonaCare Medical, Analogic Corporation, GE Healthcare, Koninklijke Philips N.V., Philips Healthcare, Siemens AG, FUJIFILM Holdings Corporation Hitachi Medical Corporation, Esaote S.p.A. Samsung Medison, Shimadzu Corporation and Mindray Medical International Limited among others. These companies have adopted new product launches to gain a competitive edge in the market.

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