Blood Cancer Drugs Market To Observe Exponential Growth By 2020-2026

 The global blood cancer drugs market is anticipated to reach USD 55.6 billion by 2025 according to a new report published by Polaris Market Research. The report ‘Blood Cancer Drugs Market [By Blood Cancer Type (Leukemia (Acute Myeloid Leukemia, Chronic Myeloid Leukemia, Acute Lymphoblastic Leukemia, Chronic Lymphocytic Leukemia), Lymphoma (Hodgkin Lymphoma, Non-Hodgkin Lymphoma (B-Cell Lymphoma, T-Cell Lymphoma)), and Myeloma; By Drugs (Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), and Others); By Treatment Approaches (Chemotherapeutic, mAbs/Targeted Therapies, and Immunotherapeutic); By Region]: Market Size & Forecast, 2017 – 2025’ provides insights on the current market scenario and the future prospects.

 

The demand for blood cancer drug is primarily driven by growing death incidences by blood cancer, and continuous innovation for developing novel treatments with the help of several ongoing clinical trials. Moreover, increasing research and development of biological and targeted therapies as treatment will spur the blood cancer drugs market during the upcoming period. However, the high price of drugs and the stringent government policies will limit the growth of blood cancer drugs market during the forecast period.

 

Most of the blood cancers start in the bone marrow, where blood is produced. In blood cancer the growth of normal blood cells is dislodged by the uncontrollable growth of abnormal blood cells. These cancerous cells prevent the blood from performing many of its functions. Hence, the existing treatments of blood cancer are being the foundation for developing the new drugs. The steady flow of the blood cancer drugs has created opportunity for research and development in the existing market. For instance, Amgen Inc. received approval for BLINCYTO in July 2017, which is used in treating B-cell precursor Acute Lymphoblastic leukemia. Similarly, European blood cancer drugs market witnessed the approvals of Gazyvaro, by Roche AG that is used in treating advanced follicular lymphoma. Also, novel technologies like CAR-T are likely to be launched this year.

 

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The global blood cancer drugs market is segmented into blood cancer type, drugs and treatment approaches. On the basis of blood cancer type, the global blood cancer drugs market is segmented into leukemia, lymphoma and myeloma. The lymphoma segment is expected to drive the majority market of blood cancer drugs followed by leukemia. The global market of this segment is primarily driven by the increasing prevalence of lymphoma, and presence of effective treatments in the market. On the basis of drugs, the global blood cancer drugs market is further categorized into Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), and Others. This continuous innovation for treating various sub-types of blood cancers has led to the development of novel types of treatments. For instance, the combination of Revlimid and Velcade has emerged as the preferential drugs in trials for treating multiple myeloma.

 

 

On the basis of treatment approaches the global blood cancer drugs market is further segmented into Chemotherapeutic, mAbs/Targeted Therapies, and Immunotherapeutic. Due to availability of variety of chemotherapeutic agent in the market chemotherapeutic drugs are expected to hold the higher share in blood cancer drugs market. Moreover, their effectiveness for the treatment of blood cancer and increasing number of cancer patients globally has garnered more demand for chemotherapeutic drugs throughout the world.

 

Geographically, the global blood cancer drugs market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America dominates the blood cancer drugs market which is followed by Europe and Asia Pacific. Favorable reimbursement policies, surge in R&D investments of various companies, as well as the increase in the number of blood cancer treatments are some of the major factors responsible for the growth of North America’s blood cancer drugs market. Moreover, Asia-Pacific region has been identified as the lucrative market for the for blood cancer drugs due to increasing awareness of the use of these drugs, increased healthcare expenditure, and rising per capita disposable income. These are some of the major factors which are influencing the growth of the blood cancer drugs in Asia-pacific region. 

 

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The leading companies operating in this industry include Johnson & Johnson Inc., Amgen Inc., Bayer AG., Pfizer, Inc., AbbVie Inc., Roche Holding AG., Celgene Corporation, AstraZeneca, Novartis AG, GlaxoSmithKline PLC, Merck & Co., Inc., and Eli Lily & Co. among others.

 

Key Findings from the study suggest blood cancer drugs in the market are much innovative and manufacturers are progressively concentrating on innovation of combination drugs. Companies are in a stage of development of new drugs in order to provide novel treatments for blood cancer. The immunotherapy segment is anticipated to grow at a high growth rate over the forecast period. The growth of this segment is primarily driven by increased awareness for its use as an alternative and effective treatment for blood cancer. North America is presumed to dominate the global blood cancer drugs market over the forecast period. Asia Pacific region which shows signs of high growth potential owing to the booming economies of India, and China.

 

Dermatology Drugs Market Technological Advancement, Industry Growth by 2020-2026

 Polaris Market Research assumes that with the expected launch of the potential promising therapies, the market is anticipated to expand in both psoriasis and atopic dermatitis segments. The Unites States accounts for the higher share of the market as compared to the Europe and Japan. The highest market size is due to the increased adoption of high priced biologics. Despite the launch and availability of multiple biologics, only 10% of the patients have access to these treatments and the market continues to remain underpenetrated.

 

“Dermatology Drugs Market Size to Reach $20 Billion by 2016”

 

Currently, the dermatology drugs market is highly fragmented but offer several commercial opportunities. There remains significant unmet need for safer and cost-effective treatment options. Psoriasis market was nearly USD 6 billion markets in 2016 due to the existing effective TNF alpha treatments. In Acne, retinoids and antibiotics are the mainstay treatments but what makes this indication lucrative is the promising candidates in the pipeline including Foamix’s FMX-101 and Dermira’s DRM-101.

 

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Polaris Market Research has provided the forecasts of the Global Dermatology Drugs Market from 2016-2022. The major segments which has been investigated in the global market from 2016-2022 are:

·         Market Analysis by Dermatology Key Indications

·         Market Analysis by Treatment Class/Marketed Drugs

·         Market Analysis by Regions

 

The Marketed Therapies undertaken in forecast from 2016-2022 are:

·         etanercept; Enbrel

·         infliximab; Remicade

·         adalimumab; Humira

·         ustekinumab; Stelara

·         secukinumab; Cosentyx

·         ixekizumab; Taltz

·         golimumab; Simponi

·         brodalumab; Siliq

·         guselkamab; Tremfya

·         Topical Drugs

·         Oral Antibiotics

 

The Major Indications in Dermatology Therapy area:

·         Atopic Dermatitis

·         Psoriasis

·         Acne

·         Rosacea

 

Leading Companies investigated in the Report are:

·         Allergan Plc

·         Valeant Pharmaceuticals

·         Dermira Inc

·         Aclaris Therapeutics, Inc

·         AnaptysBio, Inc

·         Revance Therapeutics

·         Foamix Pharmaceuticals

·         Novan, Inc

·         Sienna Biopharmaceuticals

·         Pfizer

·         Sanofi

·         Galderma

·         Leo Pharma

·         Roviant Sciences

·         Otsuka Pharmaceuticals

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Agriculture Drones Market Technological Advancement, Industry Growth by 2020-2026

According to a new report published by Polaris Market Research, the worldwide agriculture drones market is anticipated to reach around USD 8,019.8 million by 2026. In 2017, the field mapping segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market in 2017.

 

There has been an increasing adoption of agricultural drones across the world owing to growing agricultural industry, and high-demand for high quality food crops. The growing use of drones for crop health monitoring, weed detection, variable rate application, crop scouting, and livestock management supports the agriculture drones market growth. The growing population and increasing automation of farm operations further supports agriculture drones market growth. The global agricultural drones market is driven by the increasing need to improve the quality of crops produced, maximize crop production, and enhance productivity. Other factors driving the growth of this market include growth in the global agricultural industry, reducing availability of labors, and increasing labor costs. However, safety, security, and privacy concerns restrict the growth of the agricultural drones market. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

 

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According to the United States Department of Agriculture, National Agriculture Imagery Program (NAIP) utilizes drones with camera and sensor payloads to develop digital orthophotographs. These images are available to the government agencies and general public for estimation of land usage, crop plantings and yields, and others. In March 2016, Agribotix LLC partnered with Inter-American Institute for Cooperation on Agriculture (IICA) to introduce agriculture drone and data analytics for crop health management and improvement of agriculture production.

 

 

North America generated the highest revenue in the market in 2017. The increasing population, and growing demand for high quality crops drives the growth of this market. Growing cost of labor and increasing automation in agricultural practices further support global agriculture drones market growth. Increasing investments and subsidies in the agriculture sector by governments are expected to boost the adoption of drones for increased productivity in farms.

 

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The different components used in agriculture drones include hardware, software, and services. In 2017, the hardware segment accounted for the largest share in the global market. The hardware used in agricultural drones include technologically advanced cameras, navigation systems, frames, controllers, propulsion systems, and others. The hardware components are required for capturing information and monitoring of fields and crops.

 

The well-known companies profiled in the report include Trimble Navigation Limited, DJI Technology Co., Ltd, Parrot SA, Drone Deploy, Agribotix LLC, Honeycomb Corporation, Aerovironment, Inc., Eagle UAV Services LLC, 3D Robotics Inc., AgEagle Aerial Systems, Inc., Autocopter Corp, and Ursula Agriculture. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Unified Communications Market To Observe Exponential Growth By 2020-2026

 According to a new research published by Polaris Market Research, the unified communications market is anticipated to reach over USD 186 billion by 2026. In 2017, the IT & telecom segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

 

The growing need to improve workforce productivity, streamline enterprise communication, and provide a collaborative working environment has boosted the adoption of unified communication. The penetration of mobile devices, and increasing trend of BYOD further support the growth of this market. Additionally, the increasing demand of unified communication from small and medium enterprises has supported market growth over the years. Increasing investments by vendors in technological advancements coupled with growing demand for cloud-based unified communication services would accelerate the adoption of unified communication. However, growing concerns regarding data security, and lack of interoperability is expected to hinder market growth. Growing demand from emerging economies is expected to provide numerous growth opportunities in the coming years.

 

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The use of digital assistants and bots in unified communications is expected to increase in the coming years. Computer programs in the form of bots simulate conversation with users through chat windows and voice calls. They have the ability to perform a number of different automated tasks such as scheduling meetings, managing finances, and others. They also assist in successful use of unified communication tools. These bots could be used as an automated attendant monitoring the interactions on unified communication systems and offering instructions to users. 

  

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of BYOD drive the market growth in the region. The growing demand of mobile devices, and technological advancements further support market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to growing demand of effective enterprise communication technologies in the developing countries of the region.

 

The end-users in unified communications market include BFSI, IT & Telecom, healthcare, retail, education, travel and hospitality, and others. In 2017, the IT & Telecom segment accounted for the highest market share owing to increasing need to improve enterprise communication, and improve productivity. The demand for unified communication has increased from startups operating in this sector to improve workforce collaboration, and reduce costs.  The increasing adoption of cloud-based unified communication in this sector is expected to support market growth in the coming years.

 

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The well-known companies profiled in the report include Cisco Systems Inc., Microsoft Corporation, Avaya Inc., IBM Corporation, Verizon Communications, Inc., Polycom, Inc., BT Group, Alcatel-Lucent, NEC Corporation, Unify GmbH & Co. KG, Plantronics Inc., and ShoreTel Inc. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

Encryption Software Market To Observe Exponential Growth By 2020-2026

 The global encryption software market size is anticipated to reach USD 20.44 billion by 2026 according to a new research published by Polaris Market Research. The report “Encryption Software Market Share, Size, Trends, Industry Analysis Report By Deployment Model (On-Premise, Cloud-Based); By Application (File Encryption, Disk Encryption, Database Encryption, Cloud Encryption, Communication Encryption, Others); By Organization Size (Large Enterprises, Small and Medium Businesses); By End-User (BFSI, Healthcare, Aerospace and Defense, Government and Public Utilities, Retail, Others); By Regions, Segments & Forecast, 2019 – 2026” provides strong market indices and taps on future growth parameters.

 

In 2018, the BFSI segment dominated the global market in terms of revenue. North America was the leading contributor to global revenue in 2018. An urgency to protect critical data and growing number of data lapses has boosted the adoption of encryption software. The widespread growth of mobile devices and increasing trend of BYOD further support the growth of this market. The rising spread of virtualization, cloud and big data analytics has supported market growth over the years. Growing investments in technological advancements by vendors, coupled with growing demand for cloud-based encryption software would accelerate the growth of encryption software market during forecast period. However high costs related to advanced encryption solutions and an awareness shortage among small and medium enterprises hinder growth. Growing demand from developing economies and technological advancements are expected to provide several growth opportunities in the future.

 

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North America generated highest revenue for market in 2018 and is expected to lead the global market throughout forecast period. The increase in number of cyber-attacks and growing number of data breaches drive the market growth. A growing trend of BYOD, IoT, big data analytics and virtualization evinces the need of encryption software for data protection and data loss. A rising penetration of mobile devices and technological advancements bolster growth in the region. A greater spending on data protection in BFSI and defense sectors in the region promotes growth in the region.

 

A rushing request from emerging economies, expanding adoption of the software by BFSI sector and flooding demand for cloud-based encryption solutions are factors boosting growth of product during forecast period.

 

Enormous walks in strong innovation, data loss among enterprises has made encryption software very crucial for safe data transmissions. Furthermore, as undertakings are pushing forward with distributed computing, the product has become all the more important to prevent data slips by safeguarding touchy information.

 

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Asia Pacific is expected to display highest CAGR during forecast period owing to urging need for data integrity at all levels in the industries in developing countries of the region.

The companies include Microsoft Corporation, Symantec Corporation, IBM Corporation, EMC Corporation, CISCO Systems Inc., Intel Security, Check Point Software Technologies Ltd., Oracle Corporation, Trend Micro, Inc., and Sophos Group Plc. among others.

 

Blood Testing Market size |Incredible Possibilities and Growth Analysis and Forecast To 2026

 According to a new study published by Polaris Market Research the worldwide blood testing market is anticipated to reach USD 65,464.3 million by 2026. In 2017, the glucose testing segment dominated the global market, in terms of revenue, whereas geographically, North America accounted for the majority share in the global blood testing market.

 

Increasing dependency of doctors on blood-based diagnosis to ensure reliable and rapid treatment, along with rapidly growing geriatric population are the major factors which drives the blood testing device market. Moreover, surge in the demand for blood donations and organ donors, and increasing awareness about the safety of donated blood further increase the market growth. The other key factors enhancing the global market growth include multiplying prevalence of infectious diseases such as bacterial and viral diseases and other health-related disorders such as HIV, cancer, thyroid, and genetic disorders, and the exponential increase in the number of point of care (POC) testing. Use of self-testing products and home diagnostic tests, blood testing in under-developed countries, and research and development for developing new testing technologies further provide growth opportunities for the blood testing market in the forecast period.

 

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In the era of rapid and effective medical treatments, physicians and other medical personnel are dependent on various types of laboratory testing in order to make an accurate diagnosis and carry out subsequent treatment measures. Thus, increasing reliance on physicians for blood-based diagnosis to ensure reliable and rapid treatment procedures are the factors anticipated to enhance the blood testing market in the forecast period. Generally, the elderly population who are susceptible to age-related diseases such as diabetes and cardiovascular diseases require more frequent blood testing. Furthermore, the elderly population undergoes complex surgical procedures such as dialysis, joint replacements and cancer therapies which requires blood transfusions. These factors are anticipated to bolster the demand for blood testing in the upcoming years.

  

Recent times have witnessed an increase in the prevalence of infectious diseases such as bacterial and viral diseases, and other disorders such as HIV, cancer, thyroid, and genetic disorders in all age groups and population. Blood testing plays a vital role in the identification of the causative agents of these diseases and disorders thereby boosting the growth of this market.  Also, the growing number of POC testing has led to the increased growth of the market.

 

 

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Asia Pacific is anticipated to grow at the highest CAGR during the forecast period owing to the increasing economic growth in developing economies such as India, China and Japan. Various factors governing the growth in this region include large patient pool, increasing ageing population, rising standard of living, high disposable income, increasing health awareness, and improving medical facilities. Furthermore, global players are tapping into these countries, which in turn are expected to boost the market growth.

 

The different types of blood testing include glucose testing, lipid profile, liver function tests, prostate specific antigen, hormones, blood urea nitrogen, high-sensitivity c-reactive protein, thyroid stimulating hormone, serum nicotine/cotinine and others. The glucose testing segment is expected to dominate the market during the forecast period due to increasing population of diabetic patients and changing lifestyles. Blood glucose testing is conducted by both laboratories and point of care testing.

 

The major market players profiled in the report include Abbott Laboratories, Alere, Inc., Becton Dickinson and Company, Bio-Rad Laboratories, Beckman Coulter, bioMérieux SA, Biomerica Inc., Bruker Corporation, Nanosphere Inc., Nipro Diagnostics, Roche Diagnostics, Siemens AG, Thermo Fisher Scientific Inc. and Trinity Biotech PLC among others. These market players have adopted various strategies such as merger & acquisitions, novel product development, and venture capital investments among others to expand their foothold and increase their customer base.

 

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3d Printing Metal Market Technological Advancement, Industry Growth by 2020-2026

 The global 3D printing metal market is expected to reach USD 3.06 billion by 2026 with a CAGR of 23.6% during the forecast period as per a new study released by Polaris Market Research. The report “3D Printing Metal Market [By State (Powder, Filament, and Others); By Metal Type (Titanium, Nickel, Stainless Steel, Aluminum, and Others); By End-Use (Medical, Automotive, Aerospace & Defense, and Others); By Regions]: Market size & Forecast – 2018 – 2026”. provides an extensive analysis of present market dynamics and predicted future trends.

 

Large industrial application has significantly increased the 3D printing (3DP) metals market growth. Additive manufacturing technologies such as 3D printing are their prime applications. Features such as low weight and high strength, with exceptions of very high resistivity to corrosion feature, makes the application of 3D printed metals favorable. Increased emphasis by leading manufacturers, expert 3D printer vendors, 3D printing service agencies, software vendors, professional service providers, and other stakeholders is increasing the attractiveness of the 3D printing metal market.

 

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Globally, the 3DP metals market is driven by aerospace & defense industry. This know-how marks in lighter, faster, and highly efficient materials and technologies as compared to traditional ones. Furthermore, The 3DP metals manufacturing is flagged by high value customized production which makes it alluring the small, medium-sized, and big businesses. 

 

The growth of 3D printing metal industry is substantially influenced by the medical industry as well and has prime application in hearing aids manufacturing. Technological advancement in 3D printers significantly impact the medical industry owing to rising focus of healthcare practitioners on quality improvement, cost reduction, and growing theragnostic approach.

 

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3DP metal industry is characterized by lucrative growth opportunities for both suppliers and operators. Suppliers have potential to capture lead by reducing cost of supply aftercare services. This makes potential application analytics for the spare parts consumption, and minimizing the length of development and retooling process. Varied metals used in the manufacturing process are customized as per the end-user’s. The fastest growth is anticipated by Titanium owing to excellent production precision properties and greater features over all other types of metal.

 

  

The market is dominated by North America with the United States holding the largest share in the region. Further, the Asia Pacific market is projected to grow with the fastest CAGR during the review period owing to high R&D investments and rising manufacturing market by big market participants in South Korea, China, and Japan, and liberating administration guidelines. The global 3D printing metal market is consolidated and comprise of varied companies. Few key organizations include Arcam AB, 3D Systems Corporation, ExOne GmbH, Renishaw Plc, Hoganas AB, Carpenter Technology Corporation, Equispheres, Materialise NV, and Sandvik AB.

 

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Artificial Intelligence Market Technological Advancement, Industry Growth by 2020-2026

 According To A New Study Published By Polaris Market Research The Global Artificial Intelligence Market is anticipated to reach USD 54 billion by 2026. The advancements of robots and the rise in their deployment rate particularly, in the developing economies globally have had a positive impact on the global artificial intelligence market. Augmented customer experience, expanded application areas, enhanced productivity, and big data integration has highly propelled artificial intelligence market worldwide. Although, absence of adequate skilled workforce as well as threat to human dignity are some of the factors that could affect the growth of the market. However, these factors are expected to have minimal impact on the market attributed to the introduction of advanced technologies.

 

An extraordinary increase in productivity has been achieved with machine-learning. For instance, Google, with the help of its experimental driverless technology has transformed cars including, Toyota Prius. Integration of various tools by artificial intelligence has helped in the transformation of business management. These tools include brand purchase advertising, workflow management tools, trend predictions among others. For example, the Google’s voice accuracy technology has 98% of accuracy rate. Furthermore, Facebook’s DeepFace technology has a success rate of approximately 97% in recognizing faces. Such accuracy in technologies is further anticipated to bolster the market growth during the forecast period.

 

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Currently, North America dominates the global artificial intelligence market attributed to the high government funding availability, existence of prominent artificial intelligence providers in the region, and robust technical adoption base. Also, the region is expected to continue its dominance during the forecast period. Moreover, the adoption of cloud-based services in key economies, such as the US and Canada, is considerably adding to the market growth in the North American region. The markets in Asia Pacific, MEA and South America region are expected to notice a high growth during the coming years. The growth in Asia Pacific region is attributed to the increasing demand for artificial technologies by the developing economies. Thus, the region is anticipated to grow at the highest CAGR during the forecast period.

 

Major companies profiled in the report include Google Inc., Intel Corporation, Nvidia Corporation, Microsoft Corporation, IBM Corporation, General Vision, Inc., Qlik Technologies Inc., MicroStrategy, Inc., Brighterion, Inc., and Baidu, Inc. among others.

 

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Key Findings from the study suggest North America is expected to command the market over the forecast years. APAC is presumed to be the fastest growing market, developing at a CAGR of more than 65% over the forecast period. The artificial intelligence market is presumed to develop at a CAGR of over 55.9% from 2018 to 2026. The high implementation of artificial intelligence in several end-user verticals including, retail, automotive and healthcare is projected to boost the growth of the market over the forecast period. Several companies are making considerable investments to integrate artificial intelligence competences into their portfolio of products. For instance, in 2016, SK Telecom and Intel Corporation signed an agreement for the development of the artificial intelligence based vehicle-to-everything (V2X) technology as well as video recognition.

Automotive Aftermarket 2020 Growth Potential, Production, Revenue And COVID-19 Impact Analysis 2026

 The report “Automotive Aftermarket [By Product (Tire, Wheels, Battery, Lighting Components, Exhaust Components, Body Parts, Accessories, Telematics, and Others); By Sales Channel (OEM, Professional Service Stations); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Region]: Market size & Forecast, 2017 – 2026”. provides an extensive analysis of present market dynamics and predicted future trends.

The global automotive aftermarket market is expected to reach more than USD 519 billion by 2026 with a CAGR of 4% during the forecast period as per a new study released by Polaris Market Research.

In 2017, the tire segment accounted for the majority revenue share in the global market. The key factor driving the market include expanding the global automotive industry and the rising average age of vehicles. The growing awareness about proper maintenance and repair of vehicles is expected to propel the demand in the coming years. Other factors boosting the market growth include technological advancements in telematics, greater need for long distance travel, and changing lifestyles. New emerging markets, sale through online channels, and emerging consumer demographics are expected to offer a new avenue for growth in the coming years.

 

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The competition is high in automotive aftermarket market owing to the presence of a large number of industry players and the players offer products and services required for repair and maintenance for a wide range of vans, trucks, cars, and buses. The factor such as price, quality, vehicle age, and convenience affect consumer buying behavior.

 

High investment in research and development is expected to open a new avenue for growth during the forecast period. The demand for replaceable parts and accessories such as clutch systems, axle, and engine parts is gaining owing to wear and tear of vehicles. Increase in the number of accidents has also propelled the demand.

In 2017, North America dominated the global market as to the presence of a large customer base with high disposable income and high demand for replaceable vehicle’s parts. Asia-pacific is anticipated to witness the highest growth rate during the forecast period owing to rising demand form the developing nation such as China and India and the expansion of global players. The rise in living standards and high disposable income is expected to boost the market growth in the coming year in the region. The factors such as poor road infrastructure and favorable production regulations, in developing nations such as India, and Pakistan are estimated to drive the demand during the forecast period.

 

The automotive aftermarket can be classified based on products into tire, battery, wheels, exhaust components, lighting, telematics, accessories, body parts, and others. The tire segment is expected to dominate the market during the forecast period. Tires require periodic replacement as external factors easily damage them.  The radial tire is gaining popularity as to properties such as higher durability, low rolling resistance, and enhanced service.

 

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The market is segmented based on vehicle type into passenger vehicles, and commercial vehicles. The growing demand for passenger vehicles in developing regions such as India, China, and Brazil is expected to provide numerous growth opportunities in the coming years. Commercial vehicles are mostly used for activities such as industrial, mining and construction, and logistics. These vehicles require frequent repair and maintenance and create a market for replaceable products.

 

The major vendors profiled in the report include Denso Corporation, Royal Dutch Shell PLC, Exide Technologies, Inc., Johnsons Controls Inc., Delphi Automotive PLC, 3M Company, Goodyear Tire & Rubber Company, Magneti Marelli S.p.A, Cooper Tire & Rubber Company, and Robert Bosch GmbH, among others. These vendors are involved in strategic initiatives such as new product development, merger and acquisition, and collaboration with other market leaders to meet the increasing needs and requirements of consumers.