Explore Global 3D Printing Market in Healthcare - Industry Insights, Growth, Trends, Analysis and Demand Forecast to 2024

Industry Overview

The 3D printing market in healthcare has witnessed significant growth rates in the last decade, owing to the increased demand for implants worldwide. The market has seen great requirement for surgical guides over the last few years due to rising usage of the digitally focused process for precise surgical preparation.

Market Segmentation

1.       Insight by Component

i.                     Materials— bioprinting biomaterial, metal & metal alloys, plastic and others

ii.                   Service and software

iii.                 Equipment — 3D printers, 3D bioprinters

Service and software segment held the largest share in 3D printing market in healthcare owing to the intensifying improvement of advanced software solutions to manufacture high-quality 3D printed medical products. Moreover, equipment segment is expected to register highest CAGR in coming years.

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2.       Insight by Technology

i.                     Photopolymerisation

ii.                   Electron beam melting

iii.                 Laser beam melting

iv.                 Laminated object manufacturing

v.                   Droplet deposition

vi.                 Three-dimensional printing

Photopolymerisation has been witnessing the fastest CAGR in this segment owing to the extensive usage of technology for manufacturing surgical guides, porous scaffolds, prosthetics and implants, and dental restorations systems.

3.       Insight by Type

i.                     Surgical guides

ii.                   Tissue engineering products

iii.                 Prosthetics and implants

iv.                 Surgical instruments

Surgical instruments has registered the highest CAGR in this segment owing to the increased usage of the digitally focused process for precise surgical preparation.

4.       Insight by End User

i.                     Hospitals

ii.                   Ambulatory Surgical centres

iii.                 Others

The hospitals accounted for the largest market share in 3D printing market in healthcare and the market for ASCs is expected to witness the fastest growth during the forecast period.

Industry Dynamics

1.       Growth Drivers

The key growth drivers of this industry are the following:

i.                     Rising need for implants

ii.                   Technological advancements

iii.                 Growing applications of 3D printing in the healthcare industry

iv.                 Escalating public-private funding

v.                   Increasing awareness regarding personal care

vi.                 Effortless development of customized and personalized medical products

vii.                Direct digital production

viii.              Expiry of key patents

ix.                  Increasing number of patients with dental problems and hearing loss

x.                   Rising healthcare expenditure

xi.                  Expanding geriatric population

xii.                Growing need for organ transplants

2.       Challenges

Some of the major challenges faced by the key players in this industry are:

i.                     Social and ethical concerns related to the usage of 3D-printed products

ii.                   Strict regulatory procedures for the approval of the 3D printed medical devices

iii.                 High cost of advanced 3D printers

iv.                 Patent issues related to 3D printing

v.                   Lack of trained professionals

3.       Industry Ecosystem

The newcomers in this industry are needed to adhere to strict regulatory standards while overcoming difficulties like the requirement of high initial capital investment and the intense competition in global markets. This lowers the threat of new entrant to some extent in the 3D printing in the healthcare market

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Geographic Overview

i.                     Asia Pacific

ii.                   North America

iii.                 Europe

iv.                 Rest of the World

North America holds the largest market share in 3D printing in the healthcare industry, owing to the high demand for organ implants in this region. Asia-pacific is expected to grow with the highest CAGR owing to the increasing adaptation of 3D printing medical devices in this region.

Competitive Insight

Key players in the 3D printing market in healthcare are Stratasys Ltd., Renishaw plc, Concept Laser GmbH, EnvisionTEC GmbH, 3T RPD Ltd, Materialise NV, 3D Systems Corporation, Arcam AB, Prodways Group and EOS GmbH Electro Optical Systems are the key players offering 3D printing in healthcare.

Source: VynZ Research

Explore Global Fertility Test Market — Industry Insights, Growth, Trends, Demand, Analysis and Forecast to 2024

Fertility test is a process by which fertility is accessed. The global fertility test market is growing at significant rate, due to Escalating first-time pregnancy age, introduction of innovative fertility monitors with high-level precision. Different products contributed to the fertility test market size. The market has witnessed high demand for ovulation predictor kits in the coming years due minimal charge as contrasted to fertility monitors, and less price and high efficiency.

On the basis of product the market is subdivided into male fertility testing products, fertility monitors and ovulation predictor kits. Of all products, ovulation predictor kits segment accounted the largest share in the market due to minimal charge as contrasted to fertility monitors, less price and high efficiency, mounting age of first-time pregnancies in women, high preference for these products, effortless OTC obtainability and easiness of usage.

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 On the basis of mode of purchase the market is subdivided into prescription-based and non-prescription/OTC-based. Preference of patients towards self-monitoring and remote monitoring, easy availability, and use of fertility and ovulation monitors on e-commerce websites are some of the factors responsible for the growth of the non-prescription/OTC-based fertility tests. Of all the mode of purchase, the non-prescription/OTC-based segment accounted the largest share in the market.

On the basis of application the market is subdivided into female fertility testing and male fertility testing. Declining female fertility rates, elevated price of IVF procedure and accessibility of an extensive range of fertility testing preferences are the factors growing the demand of female fertility testing application. Among the all applications, the female fertility testing application accounted the largest share in the fertility test market.

The different end users of the market are hospitals, fertility clinics and others and home care settings. Deterioration of fertility rates in women and men, mounting necessity for constant monitoring of health conditions, and mounting inclination for home and remote monitoring are the factors growing the demand of home care settings. Among the all end users, the home care settings accounted the largest share in the fertility test market.

Mounting acceptance of ovulation monitors based on basal body temperature and effortless accessibility of monitors on e-commerce sites are the trends in the fertility test market.

Escalating first-time pregnancy age, introduction of innovative fertility monitors with high-level precision, deteriorating fertility rates, mounting technological advancement in fertility testing kit and mounting alertness about fertility testing are the primary growth drivers for fertility test market.

High price of fertility testing monitors, untested precision of urine-based ovulation monitors and reduced precision of ovulation prediction kits are the major challenges for the growth of fertility test market.

Globally, the manufacturing companies trying to enter the fertility test market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.

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Geographically, North America is the largest fertility test market as in the region the usage of fertility monitoring device for contraception is increasing.

Asia-Pacific is observed to witness fastest growth in the market, due to mounting occurrence of lifestyle disorders. In addition, mounting funding for the improvement of fertility and ovulation monitors and mounting number of manufacturers and suppliers of fertility testing are also creating a positive impact on the fertility test market growth in the region.

Key players in the fertility test market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In December 2016, Prestige Brands Holdings, Inc. has entered into a definitive agreement to acquire C.B. Fleet Company, to enhance its product portfolio in feminine care and other over-the-counter healthcare products.

In July 2016, Ava launched Ava Bracelet, a fertility tracking sensor bracelet, to detect the fertility days during a women’s cycle. Advacare Pharma, Biozhena, Fertility Focus, Prestige Brands Holdings, AVA, SPD Swiss Precision Diagnostics, Fairhaven Health, Taidoc, Babystart, Hilin Life Products, Church & Dwight, Sensiia and Geratherm Medical are the key players offering fertility test.

Source: VynZ Research

Global Electric Vehicle Market - Industry Insights, Growth Factors, Technology, Trends, Analysis, Demand and Development Forecast to 2024

Electric vehicle (EV) is a vehicle which requires one or more electric motors and makes its own electricity for propulsion. The global electric vehicle market is growing at significant rate, due to mounting alarm about environmental pollution and promising government strategies and supports. Different propulsion type contributed to the electric vehicle market size. The market has witnessed high demand for battery electric vehicle in the coming years due to refining charging infrastructure, government assistance in the form of permits, supports, and tax rebates, decreasing charging time and zero emission of carbon.

On the basis of component the electric vehicle market is subdivided into infotainment system, EV battery cells & packs, instrument cluster and on-board charger. Of all components, EV battery segment accounted the largest share in the market, as it is the most important component of an EV and it makes up substantial cost of an EV due to its high cost.

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On the basis of propulsion type the market is subdivided into plug-in hybrid electric vehicle (PHEV), battery electric vehicle (BEV), fuel cell electric vehicle (FCEV) and hybrid electric vehicle (HEV). Of all the propulsion type, the BEV accounted the largest share in the market due to refining charging infrastructure, government assistance in the form of permits, supports, and tax rebates, decreasing charging time and zero emission of carbon.

On the basis of vehicle type the market is subdivided into passenger cars (PC) and commercial vehicles (CV). Among the all vehicle type, the passenger cars accounted the largest share in the electric vehicle market due to mounting demand for fuel efficient vehicle and mounting environmental awareness among consumers.

Development of electric taxi, battery swapping, light electric vehicle, robo-taxi and electric autonomous vehicles are the trends observed in the electric vehicle market.

Promising government strategies and supports, substantial investments from automakers in EVs, mounting price of gasoline, launch of novel technologies, expanding vehicle range and amplified vehicle variety per charge are the primary growth drivers for electric vehicle market.

In addition, increase in the requirement of efficient vehicle with zero carbon emission, mounting alarm about environmental pollution and strict regulations regarding vehicle emission are also driving the growth of the market. For instance, according to World Health Organization (WHO), globally exposure of ambient air pollution leads to 4.2 million deaths every year. In addition, 91% of the world’s population lives in place where air quality exceeds WHO guidelines limits.

Globally industry players are leveraging market growth through launching new products. Different players are investing in development of new battery technology to lower the cost of electric vehicles to compete against gasoline vehicles in terms of price and performance. In the coming years, industry leaders are anticipated to significantly lower the cost of these vehicles and enhance performance of these vehicles leading to adoption by masses.

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Geographically, Asia-Pacific is the largest electric vehicle market and is observed to witness fastest growth in the market due to government assistance in the manner of permits, supports, and tax rebates. Constantly refining charging setup in countries such as Japan and China and expanding vehicle range are also up surging growth of the Asia-Pacific electric vehicle market.

In addition, China is the budding market for the EVs, as it has utmost number of EVs fabrication industries and largest fleet of EVs on the road. Moreover, availability of strong charging infrastructure and government support are the factors driving the growth of the China electric vehicle market. For instance, according to China Association of Automobile Manufacturers in February 2018, the production of BEV reached 56,706 units and is increasing 168.4% year on year.

Key players in the electric vehicle market are catering the demand by collaborating with small players and investing on technologically advanced EVs across the globe. In July 2018, BMW Group and Great Wall Motor signed an agreement to produce MINI electric vehicles. Tesla, BMW, Volvo, Nissan Motor, Toyota, Hyundai, Volkswagen, Ford, BYD Auto, Honda and Daimler are the key players offering electric vehicle.

Source: VynZ Research

Explore Global Industrial Gaskets Market – Industry Insights, Growth Factors, Top Companies, Trends, Analysis and Forecast to 2024

Gaskets are generally made from flat materials which include a sheet, from rubber, paper, silicone, cork, felt, metal, nitrile rubber, fiberglass, and others. The industrial gaskets market is anticipated to register a good growth during the forecast period. This is attributed to its wide application in different end-user industries including power, oil and gas, chemicals, and others.

On the basis of material, the industrial gaskets market is classified into semi-metallic, non-metallic, and metallic. Of all these, semi-metallic material category is expected to dominate the market in the coming years. Semi-metallic gaskets are utilized by various end-user industries, as off the assembly they provide enhanced tightness with low overall load as compared to other type of gaskets.

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Insight by Product Type

Based on product type, the industrial gaskets market is categorized into soft gasket, spiral wound gasket, and ring joint gasket. Soft gaskets are the most dominant product type category, as it is the most preferred product type in various end-user industries which includes processing industry and others. 

Insight by End-User

On the basis of end-user, the industrial gaskets market is segmented into refineries, power generation, chemical processing, and others. The refineries end-user segment is anticipated to hold the largest share in the market in the coming years. This segment is projected to register the fastest growth in the market. 

Growth Drivers

i. Wide range of applications in end-user industries

ii. strict government regulations for controlling leakage so as to prevent environmental damage

iii. increased demand from facilities related to production of oil and gas

iv. ability of gaskets to resist chemical, alkaline, acids

v. ability of gaskets to withstand extremes of temperature and pressure

Challenges

i. unpredictability of the prices of raw materials raw material  like steel sheets, asbestos sheets, and copper sheets

ii. overall production costs

iii. high initial investments

Industry Ecosystem

The key players in the industrial gaskets market are implementing organic as well as inorganic growth strategies to strengthen their position and to expand their market share. The manufacturers are financing greatly on research and development to improve their product portfolio and to achieve competitive edge in the market.

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Geographic Overview

Major Centres: 

• Asia Pacific — China, Japan, India

• Europe — France, Germany, UK, Spain

• North America — US, Canada

• South America — Brazil, Colombia

• Middle East and Africa — South Africa, Saudi Arabia, UAE

Globally, North America is the most powerful market accounting for the largest market share in the industrial gaskets market. However, the Asia-Pacific is expected to see the fastest growth in the market, owing to the increasing power production in the region to meet the increasing power demand.

Competitive Insight

Some of the major players operating in the industrial gaskets industry are Klinger Limited, Garlock Sealing Technologies, Spira Power, Hennig Gasket & Seals Inc., Denver Rubber Company, Goodrich Gasket Private Limited, Amg Sealing Limited, Oman Gasket Factory, Gasket Manufacturing Company, Phelps Industrial Products, and Leader Gasket Technologies.

Source: VynZ Research

Global Digital Signature Market Is Expected to Grow to USD 5.1 Billion By 2024

Industry overview

Authentication of the user identity and managing transactions online are of growing importance in the digital signature market. The estimated market value of the global digital signature market is expected to grow to USD 5.1 billion by 2024, with a CAGR of 28.1%.

The digital signature network encompasses application providers, vendors, product manufacturers/developers, service providers, system integrators, migration service providers, and consultancy firms/advisory firms among others.

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Market segmentation

1) Insight by solution

Digital signature enables ease of services, allowing a safe, secure and quick way to handle authentication issues. Digital signature market based on solution, is segmented into:

i) By hardware

ii) By software

iii) By services

Software segment is the fastest growing segment in the digital Signature market with a CAGR of 28.5%. The driving factors of the growth of this segment include the fact that the technology reduces transaction time as well as transaction costs. The hardware segment is upheld when it comes to investments to hardware components and installation costs.

2) Insight by deployment model

i) On-premises 

ii) Cloud-based 

Among both types of deployment model, cloud-based deployment model is expected to witness the higher growth during the forecast period as it provides opportunities for sharing data across servers and platforms.

3) Insight by application

i) Government

ii) Healthcare and Lifescience

iii) Finance

iv) Retail

v) Telecom

vi) IT

vii) Others

The demand for digital signature technology in finance sector is anticipated to witness significant growth during the forecast period, which is credited to increased benefits of the technology like steady process of invoice, enriched compliances and deducted turnaround time.

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Industry dynamics

Growth drivers —

i) Decline of online frauds.

ii) Implementation of elimination of paperwork act by government 

iii) Adoption of biometric sensors globally 

iv) Increased online transaction made identification and authentication necessary online. 

Challenges —

i) Rising uncertainties due to stringent regulations enforced by governments

ii) Inconsistencies among different technologies

Industry ecosystem — 

The key players in digital signature market are taking market growth rates to new heights through technological advancements in upgrading the security measures. Development and launching of new products are emphasised for market share growth. Globally, collaborations are being made by these players to increase customer base worldwide.

Geographic overview:

- North America — Canada, US, Mexico

- Europe — Germany, UK, France, Italy, Rest of Europe

- Asia-pacific — China, Japan, India, Australia, Rest of Asia-Pacific

- Rest of the World – Brazil, U.A.E., Other Countries

North America has the largest market share of digital signature industry, which constitutes more than 40% of the total revenue. Asia-Pacific market growth is projected to grow at the fastest rate during the forecast period due to rapid technological advancement in this region.

Competitive insight:

Some of the key players in the global digital signature industry are Adobe Systems, Inc., Ascertia, Microsoft Corporation, Docusign, Inc., Entrust Datacard Corp, Gemalto, Inc., IdenTrust, Inc., International Business Solutions LLC, Kofax Limited, Korea Systems TECH Inc., Kotrade Inc., Right Signature LLC, Secured Signing Limited, Signix Inc. and Oracle Corporation.

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