Patient Handling Equipment Finds Application in Advance Medical Devices - Trends & Forecast By 2024

The Patient Handling Equipment Market is expected to reach USD 23.4 billion by 2024, according to a new report by Grand View Research, Inc. The upsurge in the demand for products, such as slings, lifts, powered electric wheelchair, due to high risk of physical injuries in manual lifting of heavy loads is a key growth driver of patient handling equipment market. In addition, growing prevalence of injuries, such as lower back pain, musculoskeletal disorders (MSDs), etc., is expected to boost growth in this sector. These injuries are avoidable by practicing safe patient handling guidelines and using equipment for the same.

Associated advantages and availability of improved products such as prime Transport Chairs (TC), temperature management systems, and patient transfer solutions, which offer safe, comfortable, and dignified transfer are the factors anticipated to provide lucrative growth to this sector in the near future.

Increasing incidences of Non-communicable Diseases (NCD), such as diabetes, asthma, cancer, stroke, etc., requiring patient handling equipment in homecare settings, hospitals, and intensive care units are further expected to boost market growth over the forecast period.

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Further key findings from the study suggest:

• The mechanical and non mechanical equipment segment is expected to grow at a lucrative CAGR of above 12.0% owing to high penetration of hospital furniture, stretchers, evacuation equipment, ambulatory aids, and accessories in healthcare settings
• On the other hand, medical beds dominated this industry in terms of revenue share in 2015, due to high adoption rate by hospitals and long-term acute care centers. Moreover, introduction of technologically enhanced products and comfort offered by them are the factors attributing to its dominant share
• Critical care segment is anticipated to grow lucratively during the forecast period, due to rising treatment rates and adoption of equipment to curb increasing prevalence of critical conditions and reduction in mishaps that occur during patient handling. Moreover, the critical care nursing and intensive care units requiring stable and safe handling practices for cardiothoracic, coronary, trauma, and surgical units supporting patients’ health are expected to widen the consumer base for these devices
• Home care setting is anticipated to grow lucratively as a consequence of increasing patient preference to reduce hospital stay and cost for the treatment. In addition, the increasing preference of home care facilities by elderly patients’ are expected to intensify demand for patient handling equipment over the forecast period. Moreover, increasing applications of long-term care programs, home health agency, and homecare services are expected to propel market growth during the forecast period
• Some key players in this market include Stryker Corporation; Hill-Rom Holdings, Inc.; Invacare Corporation; Getinge Group; Guldmann, Inc.; Stiegelmeyer, Inc.; Benmor Medical Ltd.: Sidhil Ltd.; ArjoHuntleigh, Inc.; Etac Ltd.; Joerns Healthcare; Handicare, Inc.; Mangar International Ltd.; Linet Americas, Inc; and Prism Medical Ltd.
• These players are adopting strategies such as technological innovation, new product launch, and strategic collaborations, including mergers and acquisitions to capitalize their industry share. For instance, in March 2016, Prism Medical Ltd. acquired lifts and elevating business of Shoppers Home Health Care in a probe to expand its business capabilities and strengthen its services portfolio. Similarly, in November 2014, Stiegelmeyer, Inc. introduced new technology “e-help,” an intelligent sensor technology for homecare and in-patient services enabling deeper market penetration.

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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

POS Terminals Market Holds Growth of $116.06 Billion By 2025

The global point-of-sale (POS) terminals market size is expected to reach USD 116.06 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 9.9% CAGR during the forecast period. Surge in demand for affordable wireless technologies and increasing demand for mobile POS terminals is anticipated to drive the overall market for POS terminals over the forecast period.

Introduction of chip-embedded payment cards and Personal Identification Number (PIN) has minimized security concerns relating to sensitive data theft, which is projected to drive the POS industry over the forecast period. Ubiquitous wireless connectivity, including Bluetooth, combined with availability of peripheral devices, card readers, scanners, mobile printers, and multiple platform support, is projected to drive demand over the forecast period.

In November 2016, the Indian government demonetized its economy by banning higher currency notes. It also launched the “Digital India” initiative in order to promote cashless economy and online transactions. Such changes have significantly boosted demand for POS terminals in India. Indian banks are trying to gain advantage of this demonetization by deploying large number of POS terminals in the market and providing schemes and discounts to customers in order to promote use of POS for transactions. Indian banks have surpassed the target of 1 million POS terminals post demonetization, thus supporting market growth.

There is a significant surge in demand for mPOS terminals owing to their portability and lower cost, which decreases retailers’ cost of operation and provides better reliability. These systems are now available in ultra-portable forms as well, wherein POS terminals of the size of a credit card are available in the market. Moreover, rapidly gaining popularity among end users who use their existing tablet/system as POS terminals through specialized software for their business is anticipated to fuel demand over the forecast period. These software help reduce operational cost of retailers by eliminating need to install separate hardware systems and fulfilling all the necessary needs of retailers from a POS terminal.

Cloud-based POS terminals are gaining traction mainly due to easy operation and data security that these terminals offer. Many companies are developing SaaS-based systems such as Toast, Touchbistro, and Springboard Retail in order to provide better user interface and functionality to end users.

These terminals have a range of applications, including inventory management, printing bills, payments, and carrying out loyalty programs, thus leading to increasing adoption across various end-use verticals. They offer efficient flow control, coupled with customer satisfaction, which is expected to favorably impact consumption.

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Further key findings from the report suggest:

• The global POS terminals market accounted for USD 47.95 billion in 2016 and is expected to expand at a CAGR of 9.9% from 2017 to 2025
• Fixed POS emerged as the largest product segment in 2016 whereas mobile POS systems are projected to register a higher growth rate over the forecast period
• The POS terminals services segment is anticipated to witness the highest growth at a CAGR of 11.4% between 2017 and 2025
• North America held the largest share in the POS terminals market in 2016. On the other hand, government initiatives in countries such as India are expected to boost the market in Asia Pacific
• Key players in the market include VeriFone Systems Inc.; Cisco Systems Inc.; Ingenico Group; and Hewlett-Packard Inc.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Farm Management Software Market Is Growing At A CAGR of 16.7% By 2025

The global farm management software market size is anticipated to reach USD 4.22 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 16.7% during the forecast period. The perpetual shortage of water along with growing population in developing countries is compelling governments to seek different ways of increasing food production.

A shift from inefficient traditional agricultural methods to modern agricultural practices would help cope with sustainability challenges in the agriculture industry, which is expected to positively influence the farm management software market over the forecast period.

Increasing awareness regarding benefits of organic foods and their subsequently growing consumption are fueling the demand for higher agricultural output. As a result, industry players are investing in R&D activities to develop effective and efficient drones for enhancing productivity. The Food and Agriculture Organization (FAO) estimated a 60% increase in the demand for agricultural products by 2050, representing an approximate increase by 1% per year, as the global population is likely to reach 9 billion by 2050. Furthermore, growing middle-class population in emerging countries is poised to stoke the demand for agricultural products such as vegetables and fruits. Moreover, increasing uptake of healthier food is boosting the demand for market.

Increasing focus of farmers on crop yield, productivity, and farm efficiency is projected to provide a fillip to the market over the forecast period. Advancements in technologies such as cloud computing and Internet of Things (IoT) are anticipated to promote the usage of big data, artificial intelligence, and robots in farming. Big data plays an essential role in providing predictive insights in agriculture, redesigning business process, and making real-time operational decisions for altering business models.

Global IT companies such as IBM are offering software solutions and big data analytics for precision farming techniques. On the other hand, startups are moving upstream in the value chain and extending their offerings to insurance and advisory services. The value chain of the farm management software market includes suppliers, agricultural OEMs, integrators & service providers, and customers.

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Further key findings from the report suggest:

• The emergence of big data, mobile computing, and advanced sensing technology, which supports software are shaping the farm management software market
• The cloud-based deployment model is expected to witness the most promising growth, registering a CAGR of 19.5% over the projected period
• The data, which is collected through sensors and drones, is visualized through platforms developed by service providers
• The managed services segment dominated the market in 2016. Managed services are similar to third party or outsourced services. Most growers adopt managed service providers for drone services as collection of data using drones requires special assistance
• The North American market dominated the market and was valued at USD 492.7 million in 2016
• Some of the key players in the market are DeLaval International AB; CropMetrics LLC; Granular, Inc.; DICKEY-john Corporation; Gamaya; and Raven Industries.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Global Advanced Composites Market Is Thriving Worldwide 2014 – 2024

The global advanced composites market size is expected to reach USD 41.20 billion by 2024, according to a new report by Grand View Research, Inc. The industry is anticipated to grow, primarily on account of superior benefits such as reduced weight, fuel efficiency and higher strength offered by the materials.

Rising demand for specialty products that comply with U.S. Leadership in Energy and Environmental design (LEED) standards is expected to propel the demand in construction segment Technological innovations aimed at the development of cost-effective manufacturing processes are expected to drive demand.

The market for advanced composites is characterized by the presence of a large number of regulations. The production process of composite materials is heavily regulated on account of critical nature of their usage. In addition, the usage of such materials is also subject to various regulations related to the strength and performance characteristics, which is likely to affect the growth.

Increasing adoption of composites by the automotive industry coupled with reduced raw material prices, is projected to drive the industry growth over the forecast period. Manufacturing companies are shifting their focus towards the developing economies in regions such as Asia Pacific and Central & South America (CSA), on account superior economies of scale.

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Further key findings from the report suggest:

• Carbon is expected to be the fastest-growing segment, in terms of volume, registering a CAGR of 11.9% from 2015 to 2024 owing to its extensive usage in the production of aircraft components such as wings, fuselage, cockpit, and tail surfaces.
• The use of s-glass based composites in the construction industry is expected to reach a market revenue of USD 2.52 billion by 2024 on account of the superior stress resistance of the product coupled with longer operational lifetime
• The use of aramid fibers for aerospace and defense application is expected to register a CAGR of 5.8% over the forecast period owing to heightened demand for low weight, high-strength materials for aircraft production.
• Key manufacturers operating in the industry lay extensive focus on the production and development of high strength materials for specific applications in a bid to increase the market share.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Wave & Tidal Energy Market Expand Their Businesses With New Investments

The global wave and tidal energy market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 42.5% CAGR during the forecast period. Need to reduce dependency on fossil fuels, increasing investments, and supportive government regulations are likely to fuel market growth over the coming years.

The renewable energy sector has witnessed significant expansion in terms of installations worldwide in 2016. The capacities in wind, marine, solar, waste-to-energy, small geothermal and hydro sources, and biomass combined added up to 138.5 GW in 2016, up from 127.5 GW in 2015. Investments in electricity generation through novel renewable sources was twice in comparison to fossil fuels.

Ocean energy is witnessing significant development in terms of new projects in various economies including U.K., Ireland, Sweden, Portugal, Thailand, India, Japan, China, Canada, and U.S., which is likely to fuel market growth over the coming years. However, high cost and socio-economic and environmental barriers are likely to restrain the development of the market over the forecast period.

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Further key findings from the report suggest:

• The wave energy segment is likely to register significant growth in the coming years on account of extensive R&D and new project developments in numerous economies including Ireland, Sweden, Portugal, U.S., China, and New Zealand
• The tidal segment dominated the market on account of high technological know-how. However, environmental concerns related to the technology are likely to restrain its growth
• Asia Pacific is expected to be a lucrative market for the technology on account of supportive government initiatives
• The number of companies in the global wave and tidal energy market has registered an increase in recent years. These companies are constantly making significant efforts to advance their technologies and deploy novel and improved equipment
• R&D, new project developments, partnerships, and acquisitions are some of the major strategies being adopted by companies in the industry. In November 2016, BPS developed an ocean wave forecasting system for efficient operation of wave energy projects. This technology can also be used for fishing, aquaculture, diving, and oil and gas operations.

Access press release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-wave-tidal-energy-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com