Industry Research Report

Friday, 22 January 2021

Medical Footwear Market 2020 | Scope of Current and Future Industry 2027

The global medical footwear market size is expected to reach USD 12.87 billion by 2027 according to a new study by Polaris Market Research. The report “Medical Footwear Market Share, Size, Trends, Industry Analysis Report, By Type (Sandals, Shoes & Boots, Slippers, Insole and Others); By Distribution Channel (Online and Offline); By End Users (Men, Women and Kids); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Medical footwear aids in dealing with several foot-related issues such as bunions & hallux valgus, plantar fasciitis, and arthritis. Therefore, they are also referred as therapeutic footwear. Diabetes increases the blood sugar which increases the risk of foot-related ailments. As a result, the increasing number of diabetic patients across the globe is expected to drive market growth.

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According to the Centers for Disease Control and Prevention (CDC) 2020 report, approximately 3.2 million people are diabetic in the U.S alone. In addition, the report also states that 26.9 million (including 26.8 million adults) people are diagnosed while 7.3 million are undiagnosed. Furthermore, 88 million people who are 18 years or older are pre-diabetic. This has led to the increasing demand for medical footwear across the globe.

A wide variety of smart shoes are available in the medical footwear market for diabetic patients and athletes. For instance, CMST and Holst Center are working with the Belgian companies as their main objective is to make intelligent shoe sole that helpful for athletes and patients. The sole measure pressure distribution while walking or running due to the presence of 900 sensors. Therefore, the addition of technology is expected to drive the demand for medical footwear.

Furthermore, there are some popular shoes that are Medicare-approved shoe brands such as Orthofeet, Apex, Anodyn, Dr. Comfort, New Balance, and Surefit which in turn is expected to increase awareness for medical footwear. For instance, Orthofeet is the most popular brand biochemically engineered and designed for pain relief. These shoes are also useful for the patient who have multiple foot or pain-related issues.

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Most of the companies operating in the medical footwear market are involved in joint ventures and partnerships to develop new products. For instance, in October 2019, Stevens Institute of technology entered into a contract which was an exclusive licensing agreement with Bonbouton. This agreement is to provide the right to use smart insole as well as develop a graphene sensing system. This system will be helpful in the early detection of foot ulcers. Key players operating in the global medical footwear market are Darco International Inc., New Balance, Mephisto, Aetrex Worldwide, Inc., Dr. Comfort, Orthofeet, Duna, Dr. Zen, Inc., and Gravity Defyer Corporation.

Major players in the medical footwear market are focusing progressively on the online shopping experience through innovative marketing strategies. They are involved in target marketing and impactful education to generate online traffic. These strategies are helpful in influencing diabetics through online platforms. Therefore, innovative product designs and promotional & advertising activities of medical footwear is expected to offer favorable opportunities to drive market growth.

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CRISPR & Cas Genes Market Information, Figures and Analytical Insights 2027

The global CRISPR & Cas Genes market size is expected to reach USD 4.75 billion by 2027 according to a new study by Polaris Market Research. The report “CRISPR & Cas Genes Market Size, Share & Trends Analysis Report, By Product & Service (Product {Kits & Enzymes, Libraries, Design Tool, Antibodies, and Others}, and Service {Cell Line Engineering, gRNA Design, Microbial Gene Editing, and DNA synthesis); By Application (Biomedical and Agricultural), and By End Use (Biotechnology & Pharmaceutical Companies, Academics & Government Research Institutes, and Contract Research Organizations (CROs)), and Segment Forecasts, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

CRISPR refers to a gene editing tool through which the biological researchers and scientists can modify the genomes of various living creatures. The CRISPR technique relies on the antiviral defense mechanism of the bacteria-based CRISPR-Cas9 system. The synthetically created guide RNA is being complexed with Cas9 nuclease and delivered into the cell. Through this technique, the genome of cells can be sliced at any desired location while enabling the removal of available genes or/and adding novel genes in vivo.

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The Cas9 nuclease acts as a genetic scissor and used to open both the strands of specific DNA sequence for introducing the desired modification through the deployment of any one of the two techniques. These techniques include knock-in mutations which is enabled through the Homology Directed Repair (HDR) and via Non-Homologous End Joining (NHEJ).

The prominent factors favoring the CRISPR & CRISPR-Associated (Cas) genes market growth include technological advancement in gene editing platform and launch of various anti-CRISPR proteins that are expected to improve the overall accuracy of CRISPR technique. SpCas9-HF and eSpCas9 are two novel versions of Cas9 protein that have been designed in laboratory for minimizing the editing activity which is off the target without any use of sgRNAs.

According to the American Association for the Advancement of Science (AAAS) February 2020 release, the researchers have integrated two techniques viz. T cell therapy, which exploits the sentry of the body’s immune system for destroying tumors and CRISPR, which is used for editing of DNA. The researchers have found the advanced CRISPR gene editing tool to be very safe when used on three patients suffering from cancer.

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According to the Stat News February 2019 publication, China’s Science Ministry along with two other government institutions in the country are expected to have funded a study referred to as “CRISPR babies”. This study has resulted in the birth of two genetically altered twin girls in November 2018 in China. Therefore, the biological researchers have successfully achieved a key technique to start pregnancy among humans through the deployment of CRISPR Cas9 gene editing tool on human embryos.

Companies such as Addgene, AstraZeneca, Caribou Biosciences, Inc., Cellectis, Cibus, CRISPR Therapeutics, Danaher Corporation, Editas Medicine, Inc., Egenesis, F. Hoffmann-La Roche Ltd., Genscrip, Horizon Discovery Group Plc, Lonza, Mammoth Biosciences, Merck KGaA, New England BioLabs, Synthego, and Takara Bio, Inc. are some of the key players operating in the clustered regularly interspaced short palindromic repeats (CRISPR) & CRISPR-associated (Cas) genes market.

Players in the market are focusing on adopting CRISPR & Cas gene editing technology for engineering the blood stem cells and immune cells as a key tool being deployed for enabling drug discovery while creating highly targeted anticancer drugs. Additionally, in May 2020, the U.S. Food and Drug Administration (FDA) has approved the CRISPR-based diagnostic kit for testing of the SARS-CoV-2 COVID-19 coronavirus in laboratory. According to the Nature Journal May 2020 publication, the U.S. has already increased the COVID-19 testing while averaging about 250,000 COVID-19 test per day. The rapid FDA approval to the test kits is expected to boost testing, reducing backlogs.

Polaris Market Research has segmented the CRISPR & Cas Genes market report on the basis of product & service, application, end-use, and region

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Virtual clinical trials Market Information, Figures and Analytical Insights 2027

The report “Virtual Clinical Trials Market Share, Size, Trends, Industry Analysis Report, By Design (Observational Trials, Interventional Trials, Expanded Access Trials), By Indication (CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Oncology, Genitourinary, Ophthalmology), By Phases (Phase I, Phase II, Phase III, Phase IV), By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth. The global virtual clinical trials market size is expected to reach USD 13.78 billion by 2027 according to a new study by Polaris Market Research

Virtual Clinical Trials (VCT) are a new method of directing clinical trials which is inclusive of web platforms (informed consent, recruitment, adverse reactions, counseling and measurement of endpoints) and taking advantage of technology such as monitoring devices, apps and others. VCT also allows participant to be home-based at all clinical trial stage. VCT are operationally feasible and have lower drop-out rates, higher recruitment rates, better compliance and are faster than traditional method.

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The prominent factors favoring the global market growth include scarcity of time in traditional clinical trials, rising R&D for the development of new drugs and vaccines, adoption of telemedicine and increasing demand for patient diversity. Additionally, COVID-19 pandemic has led to upsurge virtual clinical trials given the trials need to be conducted digitally. Thereby, companies all around the globe are aiming on developing virtual trial technologies to meet the growing demand for solutions to fight Covid-19. For instance, in June 2020, TRHC (Tabula Rasa HealthCare), developer of healthcare software solutions, announced its partnership with Regence BlueShield, a health plan provider, for conducting virtual trials for different drug candidates, and to examine the ADEs (adverse drug events) in each.

Market participants such as LEO Innovation Lab, Covance Inc., CRF Health, Oracle Corporation, Oracle Corporation, Medable, Inc., Parexel International, Clinical Ink, Inc., PRA Health Sciences, Science 37 and ICON plc. are some of the key players operating in the global market.

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Players in the market are strategizing on developing new virtual clinical trial technology to cope up with the augmenting healthcare industry and thereby, establish their market place. For instance, in May 2020, AiCure LLC, an advanced data analytics and artificial intelligence company, partnered with Science 37, a clinical research company, to leverage a decentralized research model for enabling home based clinical trial for assessing an experimental drug for major depression disorder (MDD).

Medical Drones Market Information, Figures and Analytical Insights 2027

The global medical drones market size is expected to reach USD 947.6 million by 2027 according to a new study by Polaris Market Research Medical drones refer to the aerodynamic pods that are being deployed to transport key medical supplies that comprises of primary medical aids, vaccines, and drugs. Through the development of highly advanced technology has resulted in notable adoption of medical drones across the hospitals and military bases.

There’s continuous ongoing research in this field to develop new products with superior accuracy and speed in delivery of medical supplies to the targeted location. These drones can be either operated manually or they can be strategically programmed for performing long-distance flights and following the designated route precisely. In addition, they also have several key benefits such as they don’t require any landing space and can be programmed to drop the supplies by flying near to the ground.

Further, the impressive capability of these drones to make a flight over the closed zones and that too without any requirement of crew is the key reason for their high demand. Some other major benefits include, transporting blood samples or other lab samples to remote and small hospitals and clinics; medical support or telemedicine including, drugs, diagnostics, or key medical tools that include, portable ultrasound to remote locations or tough military terrain.

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Apart from this, this technology also offer benefits such as medical supplies that include, anti-venom or vaccines to the disease exposed or disaster relief regions, providing medical supplies and prescriptions to people who are hard to reach such as those at home or at sea. Moreover, providing defibrillators to patients suffering from cardiac arrest and offering organs required for transplantation are some major applications of medical drones.

Market participants such as Zipline, DJI, DHL, TUDelft, Flirtey, Embention, Matternet, Vayu, and EHang are some of the key players operating in the global market. Zipline drones, the frontrunner in the market, have cumulatively flown more than 1 million kilometres in Rwanda with more than 13 thousand deliveries. In the outskirts of Kigali, drones carried 35% of blood samples to be transfused. The Ghana the company is also started delivering COVID-19 testing kits.

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Players in the market have primarily adopted partnership strategy to strengthen their position in the global market. For instance, in June 2020, TechEagle has partnered with Zomato to boost the delivery of medical supplies via drones all across the regions in India that are facing floods and due to the ongoing COVID-19 pandemic situation.

The UK based research firm Nesta in its report titled “Flying High” in collaboration with NHS discussed the possibilities of rapid transportation of medical necessities in between the UK hospitals based in London. This move could bring faster delivery, reliable cost cutting, and improved timely patient care, even to the accident areas. It is being estimated that the use of medical drones could result in saving USD 21 billion in the annual cost to the country’s economy.

IBM Watson Services Market Report Forecast 2020-2027 By Size, Share, Price, Trend and Growth

The global IBM Watson services market size is expected to reach USD 16.5 billion by 2027 according to a new study by Polaris Market Research. The report “IBM Watson Services Market Share, Size, Trends, Industry Analysis Report, By Service Type (Watson Language, Watson Data Insights, Watson Speech, and Watson Vision Services); By End Use (Healthcare, BFSI, Retail, Discrete & Process Manufacturing, Telecom, Media & Entertainment, Transportation & Logistics, Government, Travel & Tourism, Education, and Others); By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The IBM Watson is a disruptive technology which ensures higher efficiency and agility for the enterprises. IBM has been capitalizing on its Watson services to tap potential opportunities in key areas such as internet of things (IoT), security, analytics, and healthcare. IBM Watson services power advertisements for aiding them in generating authentic content, which includes food ingredient-based customized recipe by assessing taste trends of consumers worldwide.

The technology across the world is changing at a rapid pace, with the advent of machine learning and artificial intelligence to take quicker informed decisions by key stakeholders in the industry. Uptake of artificial intelligence and cognitive computing has seen a multitude of interest and venture capital investment, creating a positive narrative of being a next big thing in the future. With the use of natural language processing (NLP), data mining, and advanced text analytics, cognitive systems have been assisting doctors in diagnosing diseases and making faster decisions. They are also optimizing patient selection for clinical trials with intelligence matching.

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On an average, an individual utilizes more than 1,100 terabytes of data during a lifetime, around 0.4 being used to keep health-related records in the form of electronic and medical health records, lab results, pathology reports, radiology reports, voice recordings, and insurance claims. Besides, the revolution in the field of medical devices, healthcare facilities, and new types of drugs, the importance of data generated from the patients have been drawing the attention of the related authorities and personnel. However, most of these data are unstructured and fragmented and can create mess when piled up in large volumes.

Approximately 20 per cent of patient accounted for more than 80 per cent of the total healthcare costs. After artificial intelligence and cognitive computing has come into play, the experience of this cross section of patients seems to have changed largely. As of now, IBM’s Watson Care Manager has been managing around 147,000 patients’ care plans worldwide.

Media and entertainment industry has also been influenced by IBM Watson. With the use of IBM Watson in Wimbledon 2017, best shots of the tournament were highlighted by the video editors in very less time, which were unarguably the best shots. Had it been done by the editors manually, it would have taken a great time.

Market participants such as IBM Corporation, DXC technology Limited, Tata Consultancy Services, Capgemini SE, Wipro Limited, KPMG International, Accenture Plc, Deloitte Touche Tohmatsu Ltd., Tech Mahindra limited, Infosys Limited, HCL Limited, Datamato Technologies Private Ltd., and Mainline Information Systems, Inc. are some of the key players operating in the IBM Watson services market.

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Rapid Oral Fluid Screening Device Market Report Forecast 2020-2027 By Size, Share, Price, Trend and Growth

The global rapid oral fluid screening device market size is predicted to reach USD 24.08 billion by 2027 according to a new study by Polaris Market Research. The report “Rapid Oral Fluid Screening Device Market Share, Size, Trends, Industry Analysis Report, By Drug Type (Alcohol, Marijuana, Opioids, Cocaine, Amphetamine, Methamphetamine, Benzodiazepines); By Forms (Cassettes, Swabs, Strips); By End User (Hospitals, Diagnostic Laboratories, Forensic Laboratories, Private Employers, Home care Setting); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In trend with the developing business models in healthcare sector, development of effective, efficient and productive products is on a significant surge, coupling with increasing favorable reimbursements and approvals by the government. Rising strong product pipelines for the research & development of novel rapid oral fluid screening devices also contribute a remarkable proportion towards surging the market growth globally over the forecast period.

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Furthermore, as the technology is becoming easy-to-develop and subject to a smaller number of regulations, the market is witnessing less entry hurdles for new entrants. Additionally, rapid oral fluid has ability to diagnose drug consumed in the body in less than one day and cannabis consumed in less than four hours after the testing time, hence, propelling the growth of rapid oral fluid screening devices, globally over the projected period.

Rapid oral fluid screening devices provide a wide range of screening abilities such as marijuana, cocaine, methamphetamine, and opioids are expected to drive rapid oral fluid screening device market growth over the forecast period. In addition, the growing need for drug screening across the regions owing to increasing consumption of illegal narcotics is expected to drive the demand for these devices in the coming years.

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The global rapid oral fluid screening device market players include OraSure Technologies, Inc., Oranoxis Inc., Guangzhou Wondfo Biotech Co., Ltd, UCP Biosciences, Inc., MEDACX Limited, Screen Italia Srl, and AccuBioTech Co. Ltd., among others. Moreover, developing and commercializing products that evaluate adherence to HIV medications, enhancing its product offerings to include additional diagnostic offerings, and building new infrastructure also adds towards the growth of the organizations.

Flame Retardant Apparel Market 2020 | Scope of Current and Future Industry 2027

The global flame retardant apparel market size is expected to reach USD 5.11 billion by 2027 according to a new study by Polaris Market Research. The report “Flame Retardant Apparel Market Share, Size, Trends, Industry Analysis Report, By Product (Inherent, Treated); By Type (Woven, Non-Woven, Knitted), By Clothing Type (Durable, Disposable); By End Use; By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Manufacturers are using new technologies to develop garments with properties such as flame protection, durability, and comfort owing to the increasing demand from the industrial sector, driving market growth. Manufacturers have developed multi-utility apparels for wide range industries. Apparels of this type offer flame retardant, chemical protection, and cut protection. This offers high growth opportunity for the market growth.

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Manufacturers of protective clothing in North America and Europe need to comply with government regulations and standards enforced by associations such as OSHA. Governments in emerging economies are trying to establish stringent health and safety regulations and create an effective safety awareness programs for worker safety. As a result, the demand for flame retardant apparels is expected to witness growth across the regions.

Asia Pacific is expected to witness fastest growth over the projected period owing to the expansion of various several end-use industries such as automotive, manufacturing, and construction. In addition, the increasing number of production facilities in countries such as India and China is expected to further drive demand. Therefore, demand for protective apparels is anticipated to rise significantly driving the demand for flame retardant apparels. Recently, however, workers have started to purchase their own protective gear from online stores. Workers can choose from a wide variety of brands that comply with their company’s guidelines.

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Companies such as Honeywell Safety, Bulwark, Seyntex N.V., Fristads, Marina Textil S.L., DEVA F-M. s.r.o., Koninklijke Ten Cate N.V., Portwest Ltd., Lakeland Industries, and National Safety Apparel Inc. are some of the key players operating in the concerned market.

The market is fragmented with few major players operating across the regions. Companies such as Lenzing AG, Honeywell International, Bulwark, Kermel, 3M, W. L. Gore & Associates GmbH, and Dupont are few of the companies present across the globe and majorly provide flame retardant apparels and fabric.

Thursday, 21 January 2021

Ethylene Market Business Status, Industry Trends and Outlook

The global Ethylene Market size is expected to reach USD 186.5 billion by 2026 according to a new study by Polaris Market Research. The report “Ethylene Market Share, Size, Trends, Industry Analysis Report By Feedstock (Naphtha, Ethane, Propane, Butane); By Application (Polyethylene, Ethylene Oxide, Ethyl Benzene, Ethylene Dichloride); By End-Use (Building & Construction, Automotive, Packaging, Textiles, Agriculture & Agrochemicals); By Region, Segment Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Ethylene demand has witnessed robust growth in the recent past and this trend is expected to continue from 2019 to 2026. growth of hospitality construction is expected to benefit the demand for ethylene derived products over the forecast period. However, the ongoing projects and their completion dates are likely to extend due to the recent Corona Pandemic. In the recent past, in order to help the hospitality sector bounce back to normalcy, governments across the globe had intervened in the past and it is expected that they will do the same to help recover the industry post pandemic.

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Global ethylene operating rates remained stable during the year 2017 and 2018 and decreased slightly in 2019. This was mostly due to the limited capacity additions as compared to the demand. Project delays, cancellations in post pandemic world order is bound to be a reality which is likely to influence the feed availability, and further tightening of supply.

The rate of proposed capacity additions is much higher than the anticipated demand. This is likely to result in decrease of the operating rates and a possibility where the market is flooded with the product. Therefore, as compared to historical operating rates, the estimated operating rates of ethylene plants is bound to be considerably lower.

There has been witnessed somewhat dilution of the relation between the market growth linked to the GDP elasticity in the past few years. The relationship has become less straightforward due to the increasing influence of sectors such as service and technology on the GDP as compared to manufacturing. Strong focus on issues such as sustainability and recycling has also affected demand for ethylene for producing various plastic products.

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Derivatives demand growth slowed due to the ongoing tensions between two major economies of the globe, namely the U.S. and China. Furthermore, the huge impact of the recent pandemic on the economies of countries across the globe will also contribute to further lower the demand for derivatives. The feedstock prices witnessed huge volatility in 2019 due to a host of reasons such as sanctions on Iran, attack on Saudi Arabia’s oil complexes, International Maritime Organization (IMO) fuel regulation set to be implemented in 2020, among others.

There had been rising preference for MTO and CTO technologies for ethylene production in the past as Naphtha and Ethane prices were considerably high. However, declining oil prices combined with decreasing feedstock prices has prompted manufacturers to move away from these technologies. Environmental scrutiny of these technologies combined with their low effectiveness were also the reasons for this shift.

Companies such as ExxonMobil Corporation., Dow Dupont, Royal Dutch Shell plc, Saudi Basic Industries Corporation (SABIC), Total S.A., AkzoNobel, China Petroleum & Chemical Corporation, Huntsman Corporation., LyondellBasell Industries., Clariant are some of the key players operating in the market.

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Polaris Market research has segmented the Ethylene Market report on the basis of feedstock, application, end-use and region

Ethylene Feedstock Outlook (Volume, Million Metric Ton, Revenue, USD Billion, 2015 – 2026)

· Naphtha

· Ethane

· Propane

· Butane

· Others

Ethylene Application Outlook (Volume, Million Metric Ton, Revenue, USD Billion, 2015 – 2026)

· Polyethylene

· Ethylene Oxide

· Ethyl Benzene

· Ethylene Dichloride

· Others

Ethylene End-Use Outlook (Volume, Million Metric Ton, Revenue, USD Billion, 2015 – 2026)

· Building & Construction

· Automotive

· Packaging

· Textiles

· Agriculture & Agrochemicals

· Others