Food Service Equipment Market Analysis, COVID-19 Impact, Future Forecast 2027

 The Global Food Service Equipment Market is anticipated to reach USD 62 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the cooking and food & beverage preparation equipment segments 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 significant increase in food establishments, and the growing hospitality industry are the major factors driving the growth of the Food Service Equipment market. The changing lifestyles and increasing disposable incomes are leading to higher instances of dining at restaurants and living at hotels and resorts. The growing demand for affordable and energy efficient equipment supports the growth of the market.

 

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Hotels and restaurants are increasingly adopting technologically advanced food service equipment for performing kitchen activities efficiently and offering enhanced services to consumers. Restaurant businesses prefer compact and space efficient equipment, which encourages market players to launch new products in the global market. Increasing spending on the hospitality sector, and tourism activities encourage restaurant owners to improve their infrastructure and offer enhanced services. Moreover, the Food Service Equipment market is also driven by increasing need to use food service equipment that consume less energy and provide faster kitchen services. Growing concerns regarding environment and increasing adoption of energy efficient food service equipment are expected to offer numerous growth opportunities in the future. However, high costs associated with food service equipment, and high installation prices restrict the growth of the Food Service Equipment market.

 

The North America Food Service Equipment market generated the highest revenue in the market in 2017, and is expected to lead the global market during the forecast period. The high living standards along with high disposable income in the region drive the market growth. Other factors supporting market growth in North America include growth in tourism industry, increasing awareness regarding energy efficient equipment, and growing adoption of smart technologies. The Asia-Pacific Food Service Equipment market is expected to grow at a significant rate during the forecast period owing to the increasing population and improving living standards.

 

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The different end-users of food service equipment include hotels and clubs, full service restaurants, quick service restaurants, and others. In 2017, hotels and clubs accounted for the highest market share owing to increasing need to offer enhanced services to consumers. Hotels and clubs are increasingly adopting technologically advanced food service equipment to meet high storage demands and to offer fresh & high quality food. Food establishments are also inclined towards using energy efficient service equipment owing to growing environmental concerns.

 

The leading companies profiled in the Food Service Equipment market report include Dover Corporation, Haier Electronics Group Co., Ltd., Duke Manufacturing Co. Inc., Illinois Tool Works (ITW) Inc., Fujimak Corporation, Duke Manufacturing Co. Inc., Ali Group, Hoshizaki Corporation, Middleby Corporation, Manitowoc Company Inc, and AB Electrolux 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.

 

Specialty food ingredients Market Share, Growth, Trends and Forecast to 2027

According to a new study published by Polaris Market Research the global specialty food ingredients market is anticipated to reach USD 67.76 billion by 2026.

The specialty food ingredient sector has outperformed other wider sectors of the food & beverage industry. This is due to the shift in dynamics within the food & beverage industry such as the changing consumer demands for more organic, natural and highly nutritious processed foodstuffs. Several studies have shown that the relationship between the specialty ingredients and processed food industry are evolving due to higher levels of collaborative innovation and product developments to fulfill stringent regulations and new consumer trends. A larger share of the value chain has been dominated by a relatively smaller number of ingredient suppliers, thus creating valuation and margin opportunities globally.

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These products also add to higher sustainability during processing of food, apart from offering their conventional functions for the food stuff. The components help to increase efficiency in food processing by limiting the quantity of raw material requirements and making the optimum use of it. Moreover, with their nutritional, technological and health related functions these products also offer other advantages such as enhancement of taste, higher food safety, and extended food choices and affordability.

These factors have been crucial in considering specialty ingredients an integral part of the food supply and hence demand of these micro and macro constituents of food is expected to surge substantially in the immediate future. Also, the food industry being a innovation driven, the specialty ingredients sector is a key contributor in enhancing the competitiveness of the entire value chain.

Key Findings from the study suggest that the largest share of the market in 2017 was of the Asia Pacific region. The region has been a substantially influential market in supply of these products to the other regions. China is one of the largest industries in the Asia Pacific and also globally with presence of an extensively diverse ingredient manufacturing sector with over hundreds of multinational and national players currently operating in the country.

Some of the imperative factors for the higher growth of the regional industry include the increasing spending power, burgeoning economies, presence of a youthful population, growing westernization of FMCG market, increasing urbanization and a mounting interest in health and wellness among the consumers. North America is another significant market, which is home to most of the leading multinational ingredient manufacturers. The U.S. is the largest producer of these products in the region with over 85% of the companies concentrated in the country.

Some of the global manufacturers in the market include Cargill Inc., Royal DSM N.V., DuPont, Tate & Lyle, CHR. Hansen Holding A/S, Archer Daniels Midland (ADM), Kerry Group, Ingredion, General Mills, BASF, ABS Food and Givaudan.

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Key Segments:

Specialty Food Ingredients Market Size and Forecast by Product Type

·         Key Findings

·         Functional Ingredients

·         Flavors

·         Emulsifiers

·         Colors

·         Enzymes

·         Others

Specialty Food Ingredients Market Size and Forecast by End-Use Type

·         Key findings

·         Convenience Foods

·         Confectionery & Bakery Food

·         Diary Food

·         Meat & Sea Food

·         Others

    Specialty Food Ingredients Market Size and Forecast by Regions

·         North America [U.S., Canada]

·         Europe [Germany, UK, France, Italy, Spain, Belgium, Netherlands, Rest of Europe]

·         Asia-Pacific [China, India, Japan, South Korea, Singapore, Malaysia, Rest of Asia-Pacific]

·         Latin America [ Brazil, Mexico, Argentina, Rest of Latin America]

·         Middle East and Africa [Israel, South Africa, Saudi Arabia, UAE, Rest of MEA]

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Remote patient monitoring devices Market Analysis, COVID-19 Impact, Future Forecast 2027

The Global Remote Patient Monitoring Devices Market Size is anticipated to reach over USD 1,882.75 Million by 2025 according to a new research published by Polaris Market Research.

 

Remote patient monitoring technology comprises devices such as glucose meters, blood pressure monitoring system, and other portable devices that are used by patients at a remote location. Growing usage of smartphones and increasing the expansion of the smartphone applications that are linked to the monitoring devices further helps in transmitting and recording person’s health-related data to the healthcare suppliers or specialists.

 

The rise in the implementation rate of remote patient monitoring devices, increasing number of geriatric population, and growing incidence of patients suffering from different lifestyle diseases are the major factor boosting the global remote patient monitoring devices market. With the increasing development in wireless technology, such monitoring devices are used to remotely monitor the physical parameters of the person such as heart rate, blood pressure, blood glucose level, and provide proper treatment if necessary. However, the high cost associated with this device, stringent reimbursement guidelines and issues correlated with the government regulations are some of the factors anticipated to hinder the global market growth.

 

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The global Remote Patient Monitoring Devices Market is segmented on the basis of product type, application, end user, and geography.

 

On the basis of product type, the global Remote Patient Monitoring Devices Market is segmented into Heart Rate Monitors, Heart Monitors, Blood Pressure Monitors, Sleep Apnea Monitors, Breath Monitors, Weight Monitors, Blood Glucose Monitors, Infusion Pumps, and Body Temperature Monitors. On the basis of product type, Heart rate monitor is estimated to dominate the product segment owing to growing global incidences of cardiovascular incidence. The increase in the number of people with cardiac diseases has led to the augmented use of such monitoring devices.

  

On the basis of application, the global Remote Patient Monitoring Devices Market is segmented into Cancer Treatment, Cardiovascular Diseases Treatment, Diabetes Treatment, Sleep Disorder Treatment, Weight Management and Fitness Monitoring. In 2017, cardiovascular disease treatment is estimated to dominate the market growth majorly owing to the increasing incidences of cardiovascular diseases. On the basis of the end user, the global Remote Patient Monitoring Devices Market is segmented into Hospitals, Ambulatory Surgical Centers, and Homecare settings.

 

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On the basis of region, the global Remote Patient Monitoring Devices Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was estimated to dominate the global Remote Patient Monitoring Devices Market. The dominance is majorly attributed to the increasing occurrences of chronic diseases, growing demand for wireless and portable systems, increased level of healthcare spending, growing number of geriatric population, and favorable reimbursement scenarios in this region. However, Asia Pacific is expected to dominate the global Remote Patient Monitoring Devices Market during the forecast. Rising disposable income, high presence of untapped market opportunities primarily in developing economies, advancement in technology, supportive government initiatives are some of the factors expected to significantly boost the Remote Patient Monitoring Devices Market in the Asia Pacific.

 

Some major key players in global Remote Patient Monitoring Devices Market include Hoffmann-La Roche Ltd., AMD Global Telemedicine, Honeywell International Inc., Omron Healthcare, Smiths Medical, Medtronic among others. The object of the key market players is to deliver better chronic care administration while keeping the cost low. In addition, the companies are concentrating on producing easy-to-use monitoring devices that can aid patients to accomplish conditions including diabetes or heart diseases better by avoiding costly medical processes.

 

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Scaffold Technology Market Analysis, COVID-19 Impact, Future Forecast 2027

 The global scaffold technology market  size is expected to reach USD 2.22 billion by 2028 according to a new study by Polaris Market Research. The report “Global Scaffold Technology Market Share, Size, Trends, Industry Analysis Report, By Type (Hydrogels {Wound Healing, 3D Bioprinting, Immunomodulation}, Polymeric Scaffolds, Micropatterned Surface Microplates, Nanofiber Based Scaffolds); By Application; By Disease Type; By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The recent advancements in micro-molding, photo-lithography, and stereo-lithography also driving scaffolding technology. For instance, the innovations in injectable and microporous hydrogels also enabled organ on a chip technology to enhance in-vivo healing. Moreover, ongoing advancements in micro-fabrication technology are also projected to boost the market growth.

 

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In 2020, the hydrogels market segment of scaffold technology industry had the largest revenue share. This high share is attributed to the excellent properties of hydrogels, such as controlled drug delivery, and ease of loading drugs. In current times, hydrogels have gained momentum and are regarded as a leading candidate in 3D cell cultures and tissue engineering.

 

The nanofiber scaffolds segment is projected to show the fastest growth rate over the assessment period. Nanoscale fibrous structures with inter-connecting pores facilitate the formation of artificial tissues during the process of tissue engineering. Artificial tissues resemble natural ones, by providing an extracellular matrix of the living tissues.

 

Market participants such as Merck KGaA, Molecular Matrix, Pelobiotech, Corning Incorporated, Avacta Life Sciences Limited, Vericel Corporation, Becton, Dickinson and Company, 3D Biotek LLC, Thermo Fisher Scientific, Xanofi, REPROCELL Inc., Matricel GmbH, Akron Biotech, Nanofiber Solutions, 4titude, 3D BioMatrix, NuVasive, Inc., Allergan, and Medtronic. are some of the key players operating in the global market for scaffold technology.

 

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Players in the marketplace are collaborating with small players to stay competitive in the market for scaffold technology. For instance, in October 2019, Avacta Life Sciences collaboration agreement with ADC Therapeutics to develop Affimer drug conjugates, to use in biological scaffolds.

 

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Private 5G Network Market Growth Prospects, Key Vendors, and Future Scenario

 The global private 5G network market size is expected to reach USD 8.32 billion by 2027 according to a new study by Polaris Market Research. The report “Private 5G Network Market Share, Size, Trends, Industry Analysis Report, By Component Outlook (Hardware, Services); By Frequency (Sub-6 GHZ, mmWave); By Spectrum (Licensed, Unlicensed/Shared); By Vertical (Manufacturing, Energy & Utilities, Transportation & Logistics, Aerospace & Defense, Government & Public Safety, Enterprises, Mining, Healthcare, Oil & Gas, Others); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

A private 5G network is a cellular network which comprises of core network servers and cell sites to support the connectivity. Also, maximizes WAN connection to mobile end points.  In addition, this network provides features such as network slicing, far lower latency, superior bandwidth, among others. Moreover, a private 5G network provides industries with high-performing networks and helps in operations of several technologies such as automated guided vehicles (AGVs), drones, sensor technology, heavy machinery automation, robotics, and others. To address wireless communication requirements in operations of industries, public safety and others is leading to rise in demand of private 5G networks.

 

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Furthermore, in the wake of COVID-19 pandemic, the Wi-Fi hotspots are overloaded and the demand has increased significantly for higher capacity & data speeds. Therefore, incorporating of private 5G networks has increased among the private organization, regulators, manufacturers, and other potential users globally.

 

 

Factors such as demand & applications for real-time based networking and Time-sensitive Networking (TSN) has tremendously increased among several industry vertical such as oil & gas, manufacturing, aerospace, and transportation. Thus, due to this increased application & technological development are fueling the demand for private 5G network and is expected to witness significant growth during the forecast period.

 

Market participants such as Altiostar, AT&T Inc., Broadcom Inc., Cisco Systems, Deutsche Telekom, Huawei Technologies Co, Nokia Corporation, Qualcomm Technologies, Inc., Samsung, Telefonaktiebolaget LM Ericsson, T-Systems International GmbH, Verizon Communications, Vodafone Limited, and ZTE Corporation are some of the key players operating in the global market.

 

Players in the market are focusing on developing new products and partnering with industrial manufacturers to establish a private 5G network-based devices on a private 5G network within the geographic footprint. For instance, in July 2020, Nokia has launched a commercial 5G standalone private wireless networking solution for businesses in the marketplace that would accelerate digitalization in different sectors.

 

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Cisco introduced Premium Mobile Broadband (PMB) is a private LTE solution that delivers high-speed mobility and allows security for mobile roaming. Accenture and AT&T has developed a private cellular network solution for manufacturing, energy, and logistics for multinational Phillips 66.

 

 

Mindfulness Meditation Apps Market Overview, Cost Structure Analysis, Growth Opportunities and Forecast To 2028

The global mindfulness mediation apps market size is expected to reach USD 4,206.1 million by 2027 according to a new study by Polaris Market Research. The report “Mindfulness Meditation Apps Market Share, Size, Trends, Industry Analysis Report, By Operating System (Android, iOS, Others); By Service Type (Paid-in App purchases, Free); By Age Group (6–12 Years Old, 13–18 Years Old, and 19 Above); By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Mindfulness Meditation Applications are Android and iOS apps developed to help end users to build awareness through meditation. In other words, the term mindfulness meditation helps to understand our behaviors and emotions, enjoy a moment of calm, bring more joy, clarity and peace of mind into life and helps to overcome the mental illness through free and paid available apps on devices.

 

On the backdrop of transforming consumer’s preference with integration of sensor technologies, increased adoption of smart phones and growing reliance on digital platform are factors contributing to the optimistic outlook of the global market. Consumers from China, U.S., Japan, South Korea and European nations is anticipated to show more willingness towards spending on mindfulness meditation apps. Over the years, the global market has witnessed several collaboration and partnerships between the app developers and public & private institutions, airlines, communities and others which has create several growth opportunities for app developers.

 

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Recent technological advancements by key companies, such as advanced sensor and touch input technologies are helping the end users to monitor the brain activities and to meditate properly. These new technologies are gaining momentum in the global market not only because of the physical wellness of the end users but for also providing mental wellness to the end users.

 

Stress and depression level among end users worldwide is playing a key factor while adopting mindfulness meditation applications. Approximately 1 out of 6 people are currently facing at least one mental disorder across the globe. In the UK, US, and China, almost more than 65%, 30%, 40% of people are reported with mental disorder respectively. As a result of this, meditation applications are becoming a source of life for overstressed end users. Key companies in the mindfulness meditation application industry, including Headspace, Calm, and others have witnessed a more than 65 Mn downloads with over 50,000 downloads each day of these apps across more than 180 countries.

 

Market participants such as Calm, Headspace, Breethe, Insight Timer, Waking Up, Meditopia, BetterMe, Simple Habit, Aura Health, and Moov are some of the key players operating in the global mindfulness meditation apps market. Two industry giants, Calm and Headspace holds the leading share in the global market and is likely to attract more investors and consumers in near future owing to its brand positioning across the globe.

 

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In June 2020, Snap Inc., the U.S. based tech start up announced the launch of in-App meditation experience in association with the Headspace, well known provider of guided meditation to improve happiness, health, and mindful-ness across the globe. The company’s feature will provide mindful and meditation exercises to the stressed individuals from daily routine.

 

Refurbished Medical Imaging Equipment Market To Witness Increase In Revenues By 2028

 The global refurbished medical imaging equipment market size is expected to reach USD 21.14 billion by 2027 according to a new study by Polaris Market Research. The report “Refurbished Medical Imaging Equipment Market Share, Size, Trends, Industry Analysis Report, By Product Type (CT Scanners, MRI Scanners, X-ray Systems, Ultrasound Systems, SPECT and PET Scanners, Urology Equipment, Neurology Equipment, Endoscopy Equipment, IV Therapy Systems, and Others); By End User (Hospitals, Diagnostic Imaging Centers, and Others), By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Refurbished equipment is second hand old equipment restoring the devices to original condition without damage to the specifications. The safety and effectiveness of the refurbished equipment is comparable to new devices. In refurbishment process the equipment will undergo changes like decontamination, calibration, repair, software upgrade, cosmetic rehabilitation, replacement of worn parts, and other procedures to match to original OEM specifications.

 

The OEM refurbished equipment is good alternative to new products, as these systems undergo complete set of industrial procedures and available with high quality, lower price and manufacturer warranty. Hence, adoption of refurbished products helps hospitals and diagnostics centres to reduce the investments on infrastructure.

 

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The refurbished medical imaging equipment is cost-effective which can be bought for as low as 30% to 70% of the original equipment cost. The cost of these second hand devices, depending on features, age of the system and the condition. By purchasing refurbished equipment, the hospitals can upgrade their imaging capability at the lower cost.

  

The market growth is primarily attributed to increasing demand for cost-effective medical imaging equipment, increasing adoption of refurbished equipment in private healthcare sector, tax incentives, extended service life of refurbished equipment and growing e commerce. There is an increasing demand for low cost medical imaging equipment by small and mid-level hospitals, diagnostic centres and private medical institutions due to lack of enough financial resources.

 

Emerging and low income countries are the lucrative target destination for the concerned market. In India, district, municipal and less sophisticated hospitals often go for used medical devices due to budget constraints. Indian hospitals demand continuous service back-up for instruments and the spare parts being sold and international companies need to have liaison offices in the country to promote the sale of these devices.

 

Market participants such as GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Block Imaging, SOMA TECH INTL., US Med-Equip, Avante Health Solutions, Everx Pvt Ltd., Integrity Medical Systems, Inc., Radiology Oncology Systems, Inc., Master Medical Equipment, Hilditch Group, Fair Medical Co. Ltd., Future Health Concepts, US Medical Systems, LLC., Nationwide Imaging Services, Pacific Healthcare Imaging, LLC, Venture Medical ReQuip, Inc., Desert Tech Medical Systems, and Hi Tech International Group, Inc. are operating in the concerned market.

 

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The companies in the market are focussing on acquisitions to increase their market share. For instance, recently in February 2020, the U.S., based supplier of refurbished medical equipment Probo Medical, announced the acquisition of Elite Medical Technologies, LLC and Future Medical Equipment, Ltd. The former is the renowned re-seller of the pre-owned digital medical devices, while the latter is specialized in de-installation and sales of second hand equipment.

 

Polaris Market Research has segmented the refurbished medical imaging equipment market report on the basis of product type, end-use, and region

 

Refurbished Medical Imaging Equipment by Product Type Outlook (Revenue-USD Million, 2016 – 2027)

• CT Scanners
• MRI Scanners
• X-ray Systems
• Ultrasound Systems
• SPECT and PET Scanners
• Urology Equipment
• Neurology Equipment
• Endoscopy Equipment
• IV Therapy Systems
• Others

Refurbished Medical Imaging Equipment by End-Use Outlook (Revenue – USD Million, 2016 – 2027)

• Hospitals
• Diagnostic Imaging Centers
• Others

Refurbished Medical Imaging Equipment by Regional Outlook (Revenue – USD Million, 2016 – 2027)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Central & South America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

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