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Plant-based Food and Beverage Market | Sustainable Types & Substitutes

While many of us associate ‘meat’ with traditional animal products such as steaks and hamburgers, the United States Department of Agriculture (USDA), responsible for regulating meat and poultry, has a distinct perspective that defines meat as skeletal muscle and edible organs (e.g. liver, tongue) sourced from cattle, sheep, swine, and goats. However, animal-based meat, primarily sourced from muscle, is associated with numerous health issues, which is pushing demand for plant-based meat substitutes. According to Triton Market Research’s report, the global plant-based food and beverage market is expected to reach $84914.17 million by 2030, growing at a CAGR of 10.91% during the forecast period.

The increasing popularity of a plant-based diet and growing awareness of meat consumption have led to higher demand. According to the International Food Information Council (IFIC), 65% of Americans surveyed have eaten meat substitutes, with 20% consuming meat-like products at least once a week.

Drivers Surging the Popularity of Plant-Based Meat Substitutes

Shift towards Veganism - The veganism trend is growing worldwide because of proven benefits, including weight loss and higher intake of key nutrients such as magnesium and folic acid. Scientific evidence shows that a vegan diet improves emotional and physical health, alleviates depression, and reduces obesity. In the United Kingdom, 46% of people aged 16 to 75 are considering cutting back on animal products. Also, 15% of consumers in the UK reported reducing or eliminating dairy consumption.

Technological advancements and increasing consumer preference for organic and non-GMO supply chains (GM) have driven the Europe plant-based food and beverage market. It is expected to grow at a CAGR of 10.91% during the forecast period.

Rise in Lactose Intolerance - Lactose intolerance, caused by the inability to digest the lactose in dairy products, results in symptoms such as abdominal pain, flatulence, etc. More than 60% of the world’s population is affected by lactose intolerance. Adults of East Asian origin are most commonly affected (70-100%), followed by Native Americans, Asians, Mediterranean region, and Jews (75-90%). Plant-based alternatives such as almond, coconut, and rice milk have fewer calories and less fat than cow’s milk while providing important nutrients that reduce the risk of diseases. The increasing focus on health and wellness has driven high demand for plant-based food and beverages.

Sustainable Plant-Based Meat Substitutes: Market by Type

Textured Vegetable Protein

Textured vegetable protein are witnessing a rapid surge, especially in meat analogs and substitutes, particularly hamburgers and sausages. The rising demand for ‘free from’ foods and clean living has further increased the popularity of the segment. The Archer-Daniels-Midland Company (ADM) has a product range of textured soy protein, with 60-80% protein, named Nutrisoy. According to Triton’s report, the textured vegetable protein segment was valued at $4522.51 million in 2022 and is expected to grow at a CAGR of 10.86% during the forecast period.

Tofu

Growing health consciousness among consumers has increased demand for plant-based protein sources. As per Triton’s analysis, the tofu segment is estimated to rise with a CAGR of 10.81% during the forecast period. Recognizing the potential, Tofoo Co has expanded its production capacity at its Yorkshire factory by about 70% by installing new equipment. On the other hand, Tofu King planned to build the largest tofu factory in the UK by 2020 to meet the growing demand.

Tempeh

Tempeh is becoming increasingly substantial due to the growing demand from vegans, vegetarians and flexitarians. It is a convenient and versatile meat alternative with high protein content, suitable for various preparation methods. There is a growing interest in natural, non-GMO, and organic foods for better health. According to Triton’s report, the tempeh segment is expected to generate revenue of $704.89 million by 2030 at a CAGR of 10.63% over the forecasted period. Innovative offerings such as Soy Bean Company’s bright white mushroom-flavored tempeh and Impulse Tempeh in the UK, which has been focused on organic production for 30 years, to sustain in such a competitive market.

Conclusion

The plant-based food and beverage market will continue to thrive, with manufacturers, from startups to dominant leaders, driving rapid innovation by developing novel and sustainable alternatives, leveraging advanced technologies, and responding to evolving consumer preferences. Also, factors such as consumer intolerance for animal protein, a growing vegan population, and increased venture investments, collectively contribute to the steady advancement and expansion of the studied market.

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Strict Laws Boost Automotive Emission Test Equipment Market

Triton Market Research presents the ‘Global Automotive Emission Test Equipment Market’ report sectioned by Solution (Emission Test Software, Emission Test Equipment/Component/Hardware, Emission Test Service), Vehicle Type (Heavy Duty Trucks & Buses, Passenger Cars, Light-Duty Trucks, Other Vehicles), Application (Inspection & Maintenance, Periodic Testing Inspections, Centralized Inspection, Other Applications), and Regional  Outlook (Middle East and Africa, Asia-Pacific, Europe, Latin America, North America).

The report further discusses the Market Summary, Market Outlook, Impact Analysis, Market Maturity Analysis, Regulatory Framework, Porter’s Five Forces Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

According to the report by Triton Market Research, the automotive emission test equipment market is expected to witness a 5.18% compound annual growth rate throughout the forecast period from 2023 to 2030.

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 Strict government legislation to reduce vehicular emissions has been implemented effectively in various nations, particularly in North America and Europe. In the United States, the National Highway Traffic Safety Administration (NHTSA) launched a comprehensive program encompassing new regulations to decrease Greenhouse Gas (GHG) emissions and enhance fuel economy. Concurrently, the Environmental Protection Agency (EPA) has developed GHG emissions guidelines under the Clean Air Act to mitigate the release of greenhouse gases. To enforce these measures, the usage of opacity meters has been mandated. These devices accurately detect and measure the amount of smoke emitted by diesel engines, offering a cost-effective means of quantifying particulate matter in emissions. Hence, these factors significantly drive the automotive emission test equipment market.

However, several prominent automotive companies, including Volkswagen, Audi, Porsche, BMW, Mercedes-Benz’s parent company Daimler, and Ford, are non-compliant with emission norms established by regulatory authorities. Violations of emission standards by these major industry players have raised concerns about their commitment to regulatory compliance and responsible environmental practices. This significantly hampers the market’s expansion.

The Asia-Pacific region is projected to experience the fastest growth in the automotive emission test equipment market. The automotive production sector is expanding in the region, with countries like China, South Korea, Japan, and India leading. However, this progress is accompanied by a grave health issue: air pollution. Countries such as China and India face severe air pollution problems, causing the premature deaths of numerous citizens. Consequently, there is a significant demand for innovative and technologically advanced automotive Original Equipment Manufacturers (OEMs) and opacity meters in the Asia-Pacific automotive emission test equipment market. The region’s prominence and exponential growth in the automotive industry, coupled with the pressing need to address air pollution, drive the studied market.

The notable companies in the automotive emission test equipment market are Robert Bosch GmbH, Wager Company, SGS SA, AVL List GmbH, Sierra Instruments Inc, Tüv Nord Group, Horiba Ltd, ABB Ltd, Gemco Equipment Ltd, Capalec, Applus+, Continental AG, Hella Gutmann Solutions GmbH, Ecom America Ltd, Opus Group AB, TEXA SpA, TÜV SÜD, CPS Products Inc, Beryl Technologies LLC, and Premier Diagnostics.

The forecast period anticipates a continued threat of new entrants in automotive emission test equipment. This is due to the presence of multiple solution providers offering equipment, diagnostic scanning tools, and related services. Increasing concerns about greenhouse gas emissions and the enforcement of strict regulations for emission monitoring fuel the market’s attractiveness. New entrants are actively forming partnerships with suppliers and distributors to gain market access and establish their customer base.

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Global Dental Sterilization Market: Defining Trends for 2023

Dental sterilization has surfaced as a vital sector, addressing the urgent need to maintain higher infection control standards globally. With the global dental sterilization market estimated to garner $1816.28 million by 2030, driven by factors such as the rising prevalence of dental diseases, cross-contamination risks, and cosmetic dentistry, it’s evident that the sector is at the forefront of promoting patient health. The market is projected to advance with a CAGR of 6.36% during the forecast period 2023-2030.

As per FDI World Dental Federation, oral diseases affect around 3.5 billion individuals globally. In this regard, approximately 2.3 billion people suffer from tooth decay. Moreover, periodontal disease affects up to 19% of the global population, leading to tooth fallout on numerous occasions. Given this rise in conditions, the number of dental procedures has soared, ultimately increasing the demand for sterilization instruments and consumables to eliminate the risk of cross-contamination.

While disease prevalence and cross-contamination are key aspects, the rise in cosmetic dentistry has further widened the application scope of sterilization equipment in dentistry.

Elevating Dental Practices: Cosmetic Dentistry fuels Sterilization

Cosmetic dentistry services such as teeth whitening, dental bonding, tooth contouring, etc., have grown substantially over the past few years. This growing inclination is mainly attributed to rising consciousness about appearance and cost-effective procedures in developing nations. For instance, India, Thailand, and Malaysia have emerged as the three largest medical tourism destinations. In this regard, in 2022, the Indian government introduced the ‘Heal in India’ initiative to promote medical tourism. These factors thus further contribute to the Asia-Pacific dental sterilization market’s expansion.

Rising tourism for cosmetic dentistry has further boosted sterilization practices across hospitals, clinics, and dental laboratories. Triton’s analysis shows hospitals led the end-user segment, capturing revenue worth $611.80 million in 2022. Whereas the clinics category is estimated to witness the fastest growth at a CAGR of 6.49% during the 2023-2030 forecast period.

Furthermore, teeth whitening is among the widely opted treatments in aesthetic dentistry. Although cosmetic procedures are usually more voluntary than essential, several treatments offer restorative benefits, accelerating treatment demand. For example, dental veneers help resolve gaps, crooked teeth, and damaged enamel issues.

Accordingly, several health protection agencies, like CDC, recommend varying levels of disinfection and sterilization based on procedure and equipment type. Given these guidelines, players offer a varying range of dental sterilization instruments and consumables to lessen infection rates.

Medistel is one such instrument disinfectant consumable that is widely deployed for high-level disinfection of thermo-sensitive medical devices and surgical instruments. Based on product, the consumables category is projected to observe fast growth at a CAGR of 6.67% over the forecast period 2023-2030.

Widening Treatment Landscape promote Competitive Strategies

A medical device is a capital-intensive business that requires huge investments to manufacture innovative products. For example, Dentsply Sirona expends around $125 million yearly in dentistry research and development. Several establishments have thus commenced adopting innovative strategies to gain a competitive edge. Some of the prominent strategies include:

●  In March 2023, Getinge acquired Ultra Clean Systems Inc, a leading US manufacturer of ultrasonic cleaning technologies.

●  In January 2023, Steelco Group unveiled the New DS 610 G2 Series, a sterilizer with 12-DIN-tray capacity. It limits water and energy consumption to deliver high process efficiency.

●  Applied Medical Europe collaborated with Getinge in November 2022 to deploy Getinge’s GEE Ethylene Oxide Sterilization System for its new facility in the Netherlands.

●  In 2022, De Lama Launched HyPerPure® Low-Temperature Sterilization equipment that enables greater efficiency at a reduced cost.

●  Orotol Plus was launched by Dürr Dental in 2021 that is used for simultaneous disinfection and care of dental suction systems, amalgam separators, and spittoons.

What’s Next for the Dental Sterilization Market?

Over the years, the dental industry has expanded substantially owing to awareness of several oral ailments. This has prompted various advancements in dental technologies to offer contemporary and precise solutions. On this front, digital X-rays using sensors eliminate over-exposure to radiation. Moreover, FDA-approved ultraviolet, handheld devices enable dentists to detect oral cancer at the initial phase. Further, deploying various non-invasive and laser systems has reduced reliance on numbing injections or pastes.

However, the employment of advanced equipment requires efficient and thorough disinfection procedures, accelerating the demand for cutting-edge sterilization equipment. Such tech-induced developments are expected to influence market contenders to expand their portfolio, which will open new avenues for the dental sterilization market.

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Food Waste Management Market: Initiating Efficiency Via Sustainability

Over the years, the share of global food wastage has risen significantly, having a detrimental effect on the economy and the environment. As per the Food and Agriculture Organization, nearly one-third of the food gets wasted annually, accounting for around 1.3 billion tons. Moreover, the UN Food Waste Index Report 2021 reported that approximately 17% of the food is wasted at the retail and consumer levels. This food loss indicates the depletion of natural resources, necessitating the development of waste management systems to enhance food security and sustainability. Triton’s analysis suggests that the global food waste management market is estimated to expand with a CAGR of 5.66% from 2023 to 2030.

Additionally, the market is expected to garner revenue worth $63.31 billion by 2030. Governments globally are acknowledging the importance of food waste management solutions. For instance, in February 2023, the US Department of Agriculture (USDA) invested more than $9.4 million in 45 compost and food waste reduction projects that support scalable waste management plans to decrease and deflect food waste from landfills.

Global food depletion has paved the path for innovative solutions, from organic feed production to technology-driven waste management. Let’s take a deeper look into these major trends.

Harnessing Organic Waste Power: Driving Efficiency in Animal Feed and Fertilizer Production

One of the key sustainable solutions to reduce food wastage in landfills is its use in animal feed production, particularly livestock. This waste management solution simultaneously helps address issues like food security, resource conservation, pollution, and climate change. As per Triton’s analysis, in terms of the recycling service segment, the animal feed category is estimated to advance with a CAGR of 6.29% over 2023-2030.

Moreover, this sustainable method contributes heavily to a circular economy, prompting various strategic initiatives. For instance, in January 2023, Nest Co-Founder Matt Rogers introduced a new service that enables consumers to turn household waste into chicken feed for $33 per month.

Further, foods such as fruits, vegetables, dairy, cereals, bread, etc., have emerged as key fertilizing agents, enhancing soil health, reducing erosion, and improving water quality. Likewise, organic food waste can be used for natural gas and biofuel production, lessening reliance on fossil fuels. Given these parameters, fruits and vegetables is anticipated to emerge as the fastest-growing waste type at a CAGR of 6.02% during the forecast period 2023-2030. In addition to being a good source of micro and macronutrients, food waste eliminates various plant diseases. Hence, the increasing trend of conversion of organic food waste to animal feed and fertilizer widens the global scope of food waste management.

Combating Food Wastage with Tech-Driven Management

In the waste management sector, there has been a growing inclination among the leading players to reconsider conventional methods and adopt cutting-edge solutions. In this regard, big data has enabled organizations to accurately gain data on garbage levels, increasing operational efficiency. Further, smart waste management via AI, machine learning, and IoT improves every facet of trash management, from collection to recycling.

Accordingly, easyJet Holidays, in March 2023, introduced an AI-powered hotel food waste reduction scheme in partnership with Winnow. This scheme will enable partner hotels to leverage AI to run more sustainable kitchens.

Furthermore, according to the US Department of Agriculture, around 30-40% of the food supply is wasted, costing approximately $218 billion. Moreover, food accounts for 24% of the solid waste in landfills. This high wastage resulted in the introduction of a federal interagency strategy between USDA, EPA, and FDA to address food waste under the Winning on Reducing Food Waste Initiative. As a result, government initiatives backed by technological advancements fuel the North America food waste management market’s expansion, spearheaded by the United States.

Increased Food Demand Necessitates Effective Management

As per United Nations, the global human population reached 8 billion in mid-November 2022. This number is expected to surge by nearly 2 billion by 2050. This will boost food consumption, simultaneously adding to food wastage levels. Additionally, the growing demand for ready-to-eat meals and flexible packaging solutions has soared retail and eCommerce food sales in recent years.

What’s more, with around 11.3% of the world’s population suffering from chronic hunger and malnutrition, effective food management has become crucial for businesses and communities. As a result, the need to create workable, sustainable solutions to escalating food waste is estimated to create opportunities for the food waste management market.

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Rise in Dental Infections to Drive Global Dental Sterilization Market

Triton Market Research presents the ‘Global Dental Sterilization Market’ report sectioned  by End-user (Hospitals, Clinics, Dental Laboratories), Product (Instruments [Low-temperature Sterilizers, High-temperature Sterilizers, Washer Disinfectors, Ultrasonic Cleaners, Packaging Equipment], Consumables and Accessories [Instrument Disinfectants, Surface Disinfectants, Sterilization Indicators, Lubricants and Cleaning Solutions, Sterilization Packaging Accessories]), and Regional  Outlook (Asia-Pacific, Europe, Middle East and Africa, Latin America, North America).

The report further discusses the Market Summary, Industry Outlook, Impact Analysis, Market Maturity Analysis, Porter’s Five Forces Analysis, Key Market Strategies, Key Impact Analysis, Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

As per Triton Market Research's report, the dental sterilization market is projected to display a compound annual growth rate of 6.36% during the forecast period spanning from 2023 to 2030.

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The rising prevalence of dental diseases worldwide is a key driver for the dental sterilization market. Dental problems, including periodontal disorders, hypodontia, tooth decay, cavities, and other oral health concerns, can lead to significant toothaches and gum-related pain. Nearly 3.5 billion people globally are diagnosed with oral diseases, as per the FDI World Dental Federation.

The statistics reveal that an estimated 2.3 billion individuals suffer from tooth decay in permanent teeth, while more than 514 million children experience tooth decay in primary teeth. Gum disease, a common ailment, affects approximately 50% of the global population, with severe cases leading to tooth loss in 10%.

However, the cost associated with dental treatment poses a challenge for the dental sterilization market. The expenses incurred in dental care are primarily owing to the use of advanced technology and equipment, the extensive education and training for dentists, the high overhead costs of operating a dental office, and the cost of dental insurance. Besides, many dental treatments are not covered by health insurance, and dental cosmetic procedures often receive limited insurance coverage, leading to higher out-of-pocket expenses for patients.

The Asia-Pacific region is expected to witness the fastest growth over the forecast period. This growth is attributed to the region's increasing healthcare expenditure, which drives the demand for dental sterilization products. Notably, governments in countries such as China, India, and Japan actively invest in enhancing healthcare infrastructure, further amplifying the demand for reliable and effective dental sterilization solutions. The region's commitment to improving healthcare facilities creates a favorable environment for the growth of the dental sterilization market.

The eminent companies in the dental sterilization market include Durr Dental, Tuttnauer, A-Dec, Envista Holdings Corporation, W&H Group, Getinge Ab, Scican Ltd, Dentsply Sirona Inc, Matachana Group, and Nakanishi Inc.

The dental sterilization market is witnessing a surge in numerous establishments' adoption of innovative technologies and technologically advanced products. This trend was further fueled by the COVID-19 pandemic, which led to a sudden and substantial increase in the demand for dental sterilization devices. As a result, the market experiences a heightened level of competitive rivalry among industry players. Industry participants strive to offer cutting-edge products and technologies to cater to the evolving requirements of dental establishments and ensure optimal sterilization practices.

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UPS Market: Crucial Technology to power Digital Infrastructure

Technological advancements have fueled a significant rise in the construction of data centers, which serve as vital pillars supporting a wide range of digital operations. Currently, there are approximately 8,000 data centers worldwide, with projections indicating that by 2025, these centers will consume a substantial 20% of the global power supply. To ensure the efficient functioning of data centers, the installation of UPS systems has become a necessity, as these batteries provide continuous power backup, safeguarding operations even during power outages. The global uninterruptible power supply (UPS) market is projected to reach $11037.64 million by 2030, with a CAGR of 3.68% from 2023-2030.

UPS systems are widely being embraced in smart buildings and Internet of Things (IoT) technologies. This trend will push potential opportunities in the market. The intelligent infrastructure heavily depends on a reliable power supply to ensure their proper functioning. Uninterruptible power supply system effectively address the challenges posed by the digital era, enabling their growth and ensuring uninterrupted operations.

Examples of UPS systems in Smart Buildings:

The Edge Building, Amsterdam: One of the smartest and most sustainable buildings in the world. It incorporates advanced IoT technologies and features a sophisticated UPS system to ensure uninterrupted power supply for critical systems, including lighting, HVAC, and data infrastructure.

The Crystal, London: It is a sustainable building and exhibition space that showcases cutting-edge technologies for urban sustainability. It utilizes smart building systems and relies on UPS systems to maintain a reliable power supply for its intelligent infrastructure, which includes interactive exhibits, data displays, and energy management systems.

UPS systems for Data Centers: Market by Technology

Different data centers require different UPS systems. Based on technology, the uninterruptible power supply (UPS) market presents two distinctive sub-categories modular and monolithic UPS systems. These classifications represent two approaches to power backup solutions, each offering unique features and benefits tailored to specific business needs.

A monolithic UPS system encompasses individual units with internal maintenance bypass functionality and a built-in static switch. These features enable seamless maintenance operations and swift switching between power sources, ensuring uninterrupted power supply during critical moments.

In 2022, monolithic uninterruptible power supply (UPS) systems emerged as the dominant segment, with a revenue of $7157.33 million. The dominance of this segment can be attributed to its smooth maintenance operations and rapid power source switching.

Few Examples where monolithic UPS systems are used:

The Eaton 93PM UPS is used in the Equinix SV5 data center located in San Jose, California, USA. Equinix SV5 is a facility that provides colocation and interconnection services.

In the Telehouse London Docklands North data center, located in London, United Kingdom, the Schneider Electric Galaxy VX UPS system is utilized. Telehouse London Docklands North is a data center facility that offers carrier-neutral colocation services.

Regional Snapshot

The Asia-Pacific region has established itself as a hub of rapidly growing digital economies fueled by businesses and individuals' increasing reliance on digital technologies. This shift has sparked a demand for data centers, the backbone of this digital revolution. From the smallest smartphone to the vast network of cloud computing servers, countless devices and systems rely on a continuous and reliable power supply to function optimally.

Few Examples:

Huawei Modular UPS, is commonly adopted by data centers and businesses across the Asia-Pacific region to ensure reliable power backup and scalability. Companies like Tencent, Alibaba, and China Mobile are known to use Huawei UPS systems in their data centers. Also, APC Back-UPS Pro, is used by various companies like Canon, Sony, and Panasonic.

As per our experts, the Asia-Pacific UPS uninterruptible power supply market is estimated to grow at a CAGR of 4.23% throughout the forecast period, 2023-2030.

Unlocking Business Continuity

Maintaining a reliable power backup solution in today's fast-paced business landscape has become an indispensable requirement for any IT infrastructure. While the uninterruptible power supply (UPS) market may encounter growth limitations in the forecast period due to the higher cost of online UPS compared to offline UPS, the benefits far outweigh the investment.

For example, UPS manufacturers like APC by Schneider Electric offer a range of UPS solutions to meet diverse business needs. Its Smart-UPS series, combines advanced technology with superior performance, ensuring continuous operation for critical applications. By investing in a power backup solution like UPS, organizations can safeguard vital data, maintain seamless functionality, and prevent costly disruptions that could hamper productivity and compromise customer satisfaction.

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Technological Advancements to Drive Global UPS Market by 2030

Triton Market Research presents the ‘Global Uninterruptible Power Supply (UPS) Market’ report sectioned by Technology (Monolithic, Modular), by Topology (Static, Rotary), by Power Range (0.1 kVA–10 kVA, 10.1 kVA–20 kVA, 20.1 kVA–50 kVA, 50.1 kVA–100 kVA, 100.1 kVA–200 kVA, Above 200 kVA), by Phase Type (Three Phase, Single Phase), by End-user (Industrial, Public/Infra, Commercial, Data Centers, Other End-users), and Regional Outlook (Asia-Pacific, Europe, Middle East and Africa, Latin America, North America).

The report further discusses the Market Summary, Industry Outlook (Impact of COVID-19, Market Maturity Analysis, Porter’s Five Forces Analysis, Vendor Scorecard, Key Market Strategies, Market Attractiveness Index, Drivers, Challenges, Opportunities, Analyst Perspective), Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

According to Triton Market Research’s report, the uninterruptible power supply (UPS) market is projected to experience growth with a compound annual growth rate of 3.68% during the forecast period spanning from 2023 to 2030.

The market growth during the forecast period is anticipated to be driven by technological advancements and innovations in uninterruptible power supply and battery systems, which are integral components of UPS.

Protection against power quality issues has been greatly enhanced in recent years through the development of new technologies like custom power devices based on power electronic concepts. These advancements aim to address power quality problems effectively.

While uninterruptible power supply serves as a reliable power backup solution, it may not be suitable for appliances requiring a significant amount of power. For example, it is not recommended to use UPS as a backup source for high-power-consuming appliances like air conditioners. Furthermore, the backup power duration provided by UPS is limited.

Therefore, in regions experiencing prolonged power outages, uninterruptible power supply systems may not be the optimal choice for users seeking a continuous and sustained power supply. This is likely to impede the market’s growth over the forecast period.

The Asia-Pacific region leads the global market for uninterruptible power supply (UPS), accounting for the highest revenue in 2022. The region is witnessing a significant surge in the demand for backup power solutions due to the rapid and widespread adoption of emerging technologies like cloud computing, artificial intelligence, and the Internet of Things.

This increased demand is directly contributing to the growth of the UPS market in the region during the forecast period. The adoption of UPS systems is seen as a crucial factor in supporting and sustaining the seamless operation of these advanced technologies.

The eminent companies in the uninterruptible power supply (UPS) market include Fuji Electric Co Ltd, General Electric Company, Luminous Power Technologies, Delta Electronics Inc, Mitsubishi Electric Corporation, Legrand, Schneider Electric SE, ABB Ltd, Eaton Corporation Plc, Numeric Power Systems Ltd, Piller Group GmbH, Toshiba International Corporation, Emerson Electric Co, Hitachi Ltd, and Huawei Technologies Co Ltd.

The threat of substitutes in the global uninterruptible power supply market is low due to the convergence of technological breakthroughs that have elevated the capabilities of UPS systems. The rapid adoption of new technologies, along with advancements in the electronics sector, have driven further advancements and innovations in UPS solutions, resulting in increased consumer inclination towards their adoption.

At present, there are no significant substitutes for uninterruptible power supply systems. Consequently, these factors collectively contribute to the low threat of substitutes for the global UPS market throughout the forecast period.

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Dietary Fibers Market: Fueling Healthy F&B Choices

Across the globe, constipation is a prevalent medical disorder intricately linked to insufficient fiber consumption. According to the World Gastroenterology Organization, the prevalence of constipation varies across countries, ranging from 2% to 30% in the general population. Beans, broccoli, berries, avocados, popcorn, whole grains, apples, dried fruits, nuts, and so forth are excellent sources of dietary fiber and help GI disorders. Thus, the burgeoning awareness surrounding nutrition and health among individuals and the inclination towards nutraceutical products is pushing the dietary fibers market.

Globally, the dietary fibers market is expected to reach $13421.33 million by 2030, with a CAGR of 8.77% from 2023 to 2030.

Dietary fibers possess natural laxative properties that stimulate and promote the frequency of bowel movements. By regulating the digestive system’s rhythmic functioning and preventing stool stagnation in the colon, these fibers actively alleviate the discomfort of constipation. Including fibers in a diet can effectively support regular bowel movements, ensuring optimal digestive health.

A Spectrum of Product Offerings: Soluble and Insoluble Dietary Fibers

Regarding product categorization, the market is segmented into two distinct subcategories, soluble dietary fibers and insoluble dietary fibers. Soluble fibers in food sources such as apples, bananas, barley, oats, and beans offer exceptional nutritional value. On the other hand, insoluble fibers derived from whole grains, various vegetables, wheat bran, and legumes provide an impeccable foundation for dietary enrichment. Premium food skillfully incorporates soluble and insoluble fibers, achieving a harmonious fusion of nutritional excellence.

In 2022, soluble dietary fibers emerged as the dominant segment, with a remarkable revenue of $3764.84 million. Exceptional properties and wide-ranging applications are the top drivers of the segment.

Soluble dietary fibers dissolve in water, forming a gel-like substance that offers various functional benefits. They find extensive applications across the food and beverage industry, allowing manufacturers to enhance the nutritional profile of their products while improving texture, stability, and overall quality.

Few Notable Examples:

Kerry Group PLC offers Emulgold Fibre, a soluble dietary fiber renowned for its digestibility. This product enhances texture and enhances flavor, particularly in reduced sugar systems.

Tate & Lyle produces STA-LITE Polydextrose. This easily utilized soluble fiber imparts minimal color or off-flavor, making it an ideal choice for products aiming to reduce calories and sugar while maintaining desirable texture and taste.

Addressing Nutritional Deficiencies

Developing countries face significant challenges in public health and nutrition, characterized by insufficient access to balanced diets and nutrient deficiencies that impact millions of individuals. However, the food and beverage industry has undergone a transformative shift driven by increasing awareness of dietary fibers pivotal role in maintaining optimal health.

For instance, the Indian Council of Medical Research emphasizes a minimum daily consumption of 40 grams of dietary fiber. Consequently, the country’s population has enthusiastically embraced incorporating fiber-enriched products into their diets, acknowledging their potential to enhance digestive abilities and overall well-being.

Tata NQ’s product FOSSENCE® is a versatile prebiotic dietary fiber supplement. This product, derived from fermented cane sugar, is 100% water soluble. Through clinical studies, the company has demonstrated the positive impact of FOSSENCE® on the gut microbiome, particularly in enhancing the relative abundance of lactobacillus and bifidobacteria. Also, a healthy microbiota, supported by FOSSENCE®, can improve immunity, nutrient absorption, lipid transport, and overall digestive and bowel health.

As per our experts, the Asia-Pacific dietary fibers market is projected to exhibit a promising growth rate, with a projected CAGR of 8.69% from 2032 to 2030.

Navigating the Future: A Fiber-Rich World

As the market expands, businesses must stay informed about evolving regulations and compliance requirements. Additionally, consumer education about the health benefits of dietary fibers and their role in a balanced diet is paramount. Food manufacturers are increasingly fortifying their products with dietary fibers. This approach allows them to leverage various fiber sources, including locally available options like carrots, chicory root, asparagus, Jerusalem artichoke, leeks, and whole grains. By incorporating these fibers, they can create food products with elevated fiber content, catering to the growing demand for high-fiber options. This trend extends to the functional food category, where fiber-based supplements are also gaining traction.

Examples of consumer goods manufacturers fortifying their dietary fibers products are:

KIND offers a variety of cereal bars with dietary fibers. They use ingredients like whole grains, oats, and chicory root fiber to enhance the fiber content and nutritional value of their bars.

Nature Valley incorporates fiber-rich ingredients such as whole-grain oats, wheat bran, and inulin to provide a satisfying and nutritious snack.

Fiber One uses a combination of soluble and insoluble fibers, such as chicory root extract and wheat bran, to boost the fiber content of their bars and promote digestive health.

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Clear Aligners Market: 3D & CAD Improve Treatment Efficacy

According to WHO Global Oral Health Status Report 2022, oral diseases affect around 3.5 billion individuals globally. Periodontal disease is one such condition affecting approximately 19% of the global population, resulting in tooth fallout on several occasions. Further, as per the National Center for Biotechnology (NCBI), around 93% of adolescents between 12-18 are diagnosed with malocclusion, which refers to developmental abnormalities of teeth. This high prevalence of dental conditions has influenced dentists to adopt advanced solutions, including invisible aligners. Triton’s estimates suggest the global clear aligners market will advance with a CAGR of 29.3% during the forecast period 2023-2030.

While both braces and clear aligners treat malocclusion, the latter technology has gained prominence owing to shorter treatment duration as well as convenience over braces. In recent years align procedures have gained prominence, with clear correct aligners popular among young adults and teenagers due to superior comfort and aesthetic appeal.

While aesthetic appeal has been an attractive marketing strategy, players are expanding their footing with the help of cutting-edge technologies.

CAD/CAM Technology: Innovation Shapes Clear Aligner Treatments

Computer-aided design (CAD) and computer-aided manufacturing have enabled dentists to accomplish complex treatments faster and more accurately. The technology constructs dental veneers, crowns, inlays, aligners, etc., more precisely than traditional methods. Over the recent years, CAD/CAM technology has enabled dental specialists to provide aesthetically pleasing options with decreased side effects and long-lasting restorations. This growing prominence led Align Technology, a medical device company manufacturing the Invisalign system of clear aligners and CAD/CAM software, to establish ‘Align Innovation Center (AIC)’ in Hyderabad, India.

Developed through CAD-CAM technology and thermoformed plastic materials, customized clear correct aligners have gained popularity among teens seeking to improve their appearance while avoiding metal braces. In this regard, the launch of Invisalign Teen has enabled dentists to enhance an individual’s profile by developing the lower jaw. As per industry sources, around 1 million teenagers have opted for clear aligners over braces, especially in North America and Asia-Pacific.

Aesthetic Aligners with 3D Printing and Imaging

According to WHO, malocclusion is the third most prevalent dental condition globally, following dental caries and periodontal disease. Given the high prevalence, clear aligners supported by advanced 3D technology have proven effective in treating crooked teeth, overbites, cross bites, etc. As per the American Journal of Orthodontics and Dentofacial Orthopedics, dental procedures prefer digital workflow with 3D printers to reduce treatment time and improve outcomes. Besides, estimates suggest that more than 20% of patients are willing to pay more to reduce treatment time.

Given the rising benefits of 3D systems, Align Technology introduced a 3D treatment plan, ‘ClinCheck Treatment Plan,’ that designs custom-made Invisalign aligners based on the patient’s teeth X-rays and impressions. Further, on April 20, 2023, LuxCreo, a 3D printing clear dental appliances specialist, launched an FDA Class II 510(k) cleared end-to-end solution for dentists and orthodontists. This approach enables professionals to deliver aligners via oral scan in less than 2 hours. Such innovations are thus expected to widen the scope of the clear aligners market over the forecast period.

Dental Tourism & Teledentistry Expands Application Prospects  

Dental treatment has emerged as a prominent medical tourism segment in recent years. Low-cost cosmetic dental treatments in emerging economies like Mexico, India, South Korea, etc., back this growing trend. For instance, estimates indicate the cost of smile designing in the US is around $8000, whereas it is about $1000 in India. The rising virtual patient consultations or teledentistry has also boosted online (e-commerce) and offline (direct-to-consumer) sales of dental accessories like invisible aligners. Therefore, in retrospect, the growing need for low-cost and low turnaround time in dental treatments opens avenues for the clear aligners market.

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Bioengineered Protein Drugs Market: Growth Analysis for 2023-2030

Triton Market Research presents the Global Bioengineered Protein Drugs Market report sectioned by Type (Blood Factors and Peptide Antibiotics, Monoclonal Antibodies, Fusion Proteins, Therapeutic Enzymes, Peptide Hormones, Vaccines (Excluding COVID-19), Cytokines), Disease (Infectious Diseases, Autoimmune Diseases and Other Immunodeficiency Disorders, Solid Tumors, Growth Hormone Disorders, Enzyme Disorders, and Infertility, Diabetes, Blood Disorders, Other Diseases), and Regional Outlook (Asia-Pacific, Latin America, North America, Middle East and Africa, Europe). 

The report further includes the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Regulatory Framework, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

Based on Triton’s report, the global bioengineered protein market is expected to advance with a CAGR of 7.7% during the forecast period 2023-2030.

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 Proteins are essential in offering structural support to the body, along with preventing diseases. Bioengineered proteins are produced via a genetic modification to regulate protein transport and treat injuries and other diseases.

The advancements in biotechnology and protein engineering are expected to open new avenues for the studied market. In recent years, the advent of recombinant DNA technology has enabled manufacturers to develop large quantities of bioengineered protein drugs. For instance, blood products, earlier extracted from human plasma, are manufactured using DNA technology. Moreover, this technology helps elevate the functionality and production capacity of the product. Thus, such developments are expected to increase their adoption over the forecast period.

However, the market’s growth is restrained mainly owing to the high costs associated with these drugs’ development and complications during treatments.

North America leads the bioengineered protein drugs market. The region’s robust growth is mainly owing to well-developed diagnosis and treatment facilities. Moreover, the rise in chronic diseases and growth in the elderly population base adds to the demand for bioengineered protein medications. Another development is the adoption of novel drugs produced using advanced technologies that fuel the adoption of these drugs. Hence, the above-mentioned factors propel the North American market on a growth path.

The leading companies in the bioengineered protein drugs market include Abbott Laboratories, Amgen Inc, Merc & Co Inc, Eli Lilly and Company, Bayer Healthcare Pharmaceuticals LLC, Johnson & Johnson, Baxter International Inc, F Hoffmann-La Roche, Fresenius Kabi, and GlaxoSmithKline.

Given the vast size of the bioengineered protein drugs market, almost all prominent companies have their presence or are developing therapies to gain a competitive edge. This indicates the competition level to be high and significantly affected by new product launches. Besides, the R&D of novel therapies and technologies adds to the intense competition. As per estimates, protein-based drugs account for a significant share of global pharmaceutical sales, which is expected to influence manufacturers to increase their development activities.

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Clear Aligners Market: Forecast Analysis 2023-2030

Triton Market Research presents the Global Clear Aligners Market report segmented by Age Group (Adults, Teens), Industry Vertical (Hospitals, Standalone Practices, Group Practices), Sales Channel (Direct Sales, Laboratories, Other Sales Channels), Material Type (Polyurethane Plastic, Polyethylene Terephthalate Glycol [PETG], Polyvinyl Chloride [PVC]), and Regional Outlook (Latin America, North America, Asia-Pacific, Middle East and Africa, Europe). 

The report further includes the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Regulatory Framework, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

As per Triton’s analysis, the global clear aligners market is deemed to witness revenue growth at a CAGR of 29.3% during the forecast period 2023-2030.

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 Clear aligners refer to transparent orthodontic devices similar to braces that aid teeth adjustment. They are widely preferred among teenagers and young adults.

Factors such as 3D imaging in dental treatments and rising demand for customized clear correct aligners drive the studied market. As per the American Dental Association, approximately 85% of people consider dental health important in the US. In this regard, the development of clear aligners technology has enabled patients to ensure teeth adjustment without requiring metal braces. Besides this, the advent of 3D technology has proven beneficial in offering efficient and customized orthodontic treatments.

However, the incompetence of clear aligners in complex dental issues and the high cost of these devices impede the overall development of the clear aligners market.

The Asia-Pacific is anticipated to emerge as the fastest-growing region during the forecast period. The region’s growth is prompted by the rise in medical tourism owing to high quality treatment at low cost. In this regard, China, Japan, and India are among the major economies with well-developed healthcare facilities. These countries are focusing heavily on R&D activities to further develop medical infrastructure. Hence, these factors and rising awareness about dental care boost the adoption of clear aligners across the region.

The prominent companies in the clear aligners market are Align Technology, Dentsply Sirona, Argen Corporation, Avinent Implant System, TP Orthodontics Inc, Institut Straumann AG, G&H Orthodontics Inc, 3M, Ormco Corporation (Envista), and Henry Schein Inc.

As per industry sources, a major part of the distribution and sales of digitally automated clear aligners is registered via direct consumers. These include dental specialists, laboratories, and third-party distributors. Earlier, these devices were majorly distributed to orthodontists. However, with the high market penetration of digital dentistry, clear aligners are also directed via general dentistry practitioners.

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Rising Nutritive Awareness to Drive the Global Dietary Fibers Market

Triton Market Research presents the ‘Global Dietary Fibers Market’ report sectioned by Product (Soluble Dietary Fibers {Beta Glucan, Corn Fibers, Inulin, Pectin, Other Soluble Dietary Fibers}, Insoluble Dietary Fibers {Cellulose, Hemicellulose, Lignin, Chitin & Chitosan, Oat Bran, Wheat Fibers, Other Insoluble Dietary Fibers}), by Raw Material (Cereals & Grains, Nuts & Seeds, Fruits & Vegetables, Legumes), by Application (Pharmaceuticals, Food & Beverages, Animal Feed, Other Applications), and by Regional Outlook (Middle East and Africa, North America, Europe, Asia-Pacific, Latin America).

The report further discusses the Market Summary, Industry Outlook (Impact of COVID-19, Market Maturity Analysis, Porter’s Five Forces Analysis, Industry Components, Regulatory Framework, Key Market Strategies, Key Buying Impact Analysis, Drivers, Challenges, Opportunities, Analyst Perspective), Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

As per the report by Triton Market Research, the global dietary fibers market is anticipated to develop at CAGRs of 8.77% (by revenue) and 8.73% (by volume) in the forecast years from 2023 to 2030.

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 Dietary fiber is an important component of plant-based foods with various health benefits. One of the key aspects behind the growth of the global dietary fibers market is the growing awareness among consumers regarding nutrition and health. This trend has intensified after the pandemic, as consumers have become even more focused on their well-being. Additionally, as disposable income continues to rise worldwide, healthcare expenditures are also increasing, further supporting the dietary fibers market’s growth.

However, too much fiber too quickly can negatively affect overall health and well-being. Excessive fiber intake can cause bloating, gas, and constipation, as the fiber binds to water in the gastrointestinal tract and creates a large bulk that can be difficult to pass. When there is not enough water to support this process, it can lead to hard, bulky stools and digestive problems. Thus, consuming high quantities of dietary fibers can harm consumers’ health and hinder the market’s growth.

The North American region is expected to witness the fastest growth in the global market over the forecasted period, largely due to the increasing awareness of the importance of a healthy diet. As consumers in the region have become more health-conscious, the demand for functional foods has also risen. This, coupled with the increasing awareness of the health benefits of dietary fibers and their application across a range of industries, supports the North America market’s growth.

A few notable companies functioning in the dietary fibers market are Beneo GmbH, Tate & Lyle Plc, Batory Foods Inc, Nexira SAS, The Archer-Daniels-Midland Company (ADM), Lonza Group AG, Ingredion Incorporated, Roquette Freres, Cargill Incorporated, and Kerry Group Plc.  

The presence of a number of manufacturers is likely to increase the entry barriers for aspiring players. However, strategic collaborations and a growing focus on innovation are likely to facilitate their entry. Furthermore, the rising investments in R&D activities for enhancing products’ functionality are likely to provide new opportunities for overall market growth.

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Beauty Trends to Drive the Global Cellulite Treatment Market

Triton Market Research presents the ‘Global Cellulite Treatment Market’ report sectioned by Cellulite Type (Soft Cellulite, Hard Cellulite, Edematous Cellulite), Procedure Type (Non-invasive, Minimally invasive, Topical), By End-user (Clinics, Beauty Centers, Other End-users), and Regional Outlook (Middle East and Africa, North America, Europe, Asia-Pacific, Latin America).

The report further discusses the Market Summary, Industry Outlook, Parent Market Analysis, Impact Analysis, Market Maturity Analysis, Porter’s Five Forces Analysis, Industry Components, Regulatory Framework, Key Market Strategies, Key Buying Impact Analysis, Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

As per the report by Triton Market Research, the global cellulite treatment market is projected to develop at a CAGR of 9.48% during the forecast years from 2023 to 2030.

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 The need for aesthetic procedures has increased as beauty consciousness has grown. With people considering one’s appearance and self-care more highly, the need for cellulite treatment is growing rapidly. Additionally, the presence of numerous plastic surgeons has increased the number of cosmetic procedures globally. South Korea is among the leading nations in the beauty industry, known for creative ingredients as well as innovative packaging. Therefore, the rise in beauty trends widens the scope of the cellulite treatment market.

Further, rapid technical advancements, changing consumer demands, and regular product introductions drive the cellulite treatment market. Therefore, to compete in the market, players must invest in cutting-edge technologies and R&D. However, these investments increase the overall cost of goods and services, which limits market expansion.

The Asia-Pacific dominates the cellulite treatment market globally. The rising popularity of cosmetic operations and the abundance of highly trained medical personnel is expected to drive the market growth. Furthermore, it is anticipated that the market will grow during the forecast period due to the high prevalence of obesity and the rapidly expanding elderly population. Since there are many skilled plastic surgeons in China, their presence is anticipated to be crucial in fostering the growth of the studied market.

Johnson & Johnson, Bausch Health Companies Inc, AbbVie Inc, Inceler Medikal, Cutera Inc, Zimmer MedizinSysteme GmbH, Galderma SA, Sientra Inc, Endo International Plc, and Candela Medical Corporation are leading players operating in the cellulite treatment market.

An enterprise attempting to enter the cellulite treatment market must adhere to the mandatory regulatory healthcare standards established by the regulatory governing bodies. Additionally, there is a fair amount of brand loyalty in the market, making it challenging for new competitors to build their brands. Moreover, a product’s research and development costs are high, which makes it challenging for newcomers. Thus, the threat of new competitors is minimal in the global cellulite treatment market.

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Rising Infection Incidence to Drive the Global Hospital Gowns Market

Triton Market Research presents the ‘Global Hospital Gowns Market’ report sectioned by Type (Surgical Gowns, Patient Gowns, Non-Surgical Gowns), by Usability (Disposable Gowns, Reusable Gowns), By Protection Level (Minimal, Low, Moderate, High), by End-user (Specialty Clinics, Hospitals, Other End-users) and by Regional Outlook (Middle East and Africa, North America, Europe, Asia-Pacific, Latin America).

The report further discusses the Market Summary, Industry Outlook (Parent Market Analysis, Impact Analysis, Market Maturity Analysis, Porter’s Five Forces Analysis, Industry Components, Regulatory Framework, Key Market Strategies, Key Buying Impact Analysis, Drivers, Challenges, Opportunities, Analyst Perspective), Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

According to Triton Market Research’s report, the hospital gowns market is expected to experience a CAGR of 11.83% during the forecast period spanning from 2023 to 2030.

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The hospital gowns market is being driven by the increasing number of surgeries being performed worldwide. The United States alone sees over 50 million procedures conducted each year, according to a study published in July 2020 titled “trauma of major surgery.” Hospital gowns play a vital role in protecting patients against nosocomial infections, which is why surgeons consistently recommend their use.

Additionally, the growing demand for hospital gowns is due to the increasing prevalence of healthcare-associated infections caused by a lack of sanitation and precautions. Hospital gowns can help protect patients against these infections. This is expected to drive the growth of the global hospital gowns market during the forecast period.

The global hospital gowns market could face difficulties in the forecast period due to the strict production standards for hospital gowns in different countries. For instance, medical gowns in the US are categorized as medical equipment and regulated by the FDA, with surgical and surgical isolation gowns requiring premarket approval as Class II medical devices. Non-surgical gowns, on the other hand, do not require premarket review but are still subject to production standards. This variation in production standards across different types of hospital gowns and countries may pose a challenge to the growth of the global hospital gowns market.

The global hospital gowns market is led by North America, which accounted for the highest revenue share in 2022. The demand for hospital gowns in the region is expected to increase due to the growing number of surgeries and healthcare facilities. The hospital gowns market in the United States is driven by the increase in hospital-acquired infections and the number of surgeries performed. The American College of Surgeons reports that approximately 15 million people in the country undergo surgery each year, creating a significant demand for surgical gowns.

Some of the key players in the hospital gowns market include Standard Textile Co Inc, Angelica Corporation, Halyard Health, Mölnlycke Health Care, Aramark, Medline Industries LP, Cardinal Health Inc, 3M, AmeriPride Services Inc (acquired by Aramark), and Primed Medical Products Inc.

Entering the hospital gowns market is challenging for new players due to the substantial investment required for purchasing supplies, vehicles for transportation, and raw materials for gown production. Moreover, stringent regulatory standards for hygiene and safety act as a significant restraint. Therefore, there is a moderate overall risk predicted for new entrants in this market.

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Insulin Patch Pump Market: Tech Progress

Insulin therapy is an important aspect of diabetes management and treatment. Today, a number of insulin delivery systems, in the form of pens, syringes, jet injectors, pumps, etc., are used by patients to regulate blood sugar levels. Nowadays, they are increasingly opting for patch pumps or tubeless pumps, which are compact digital devices that deliver insulin doses at regular intervals. The global insulin patch pump market is expected to progress with a CAGR of 10.54% in the forecast period from 2023 to 2030.

The market’s growth can be attributed to the rising popularity of these skin-adhesive devices, surging diabetes prevalence, demand for minimally invasive systems, and increased efforts in R&D. Patch pumps are also more accurate, efficient, affordable, and easier to use than conventional insulin delivery pumps. These products are available in disposable as well as reusable formats, and can function optimally with minimum monitoring. Also, their discrete nature is one of the key factors that has increased their adoption among younger patients.

What’s Influencing Market Growth?

The global burden of diabetes mellitus has burgeoned in recent years, owing to changing lifestyles, rising obesity rates, increasing geriatric population, and unhealthy eating habits. As of 2021, more than 537 million adults worldwide were reported to have diabetes, according to the International Diabetes Federation (IDF). And with over 74.2 million patients, India accounts for 1 in 7 of all adults affected by the condition.

Moreover, with $165.3 billion in 2021, China accounted for one of the highest diabetes-related healthcare expenditures. The rising diabetes-related healthcare expenditure has consequently increased patient demand for self-management options for diabetes in the region. This is expected to aid the Asia-Pacific insulin patch pump market’s development, with a 10.94% CAGR over the forecast period.

Insulated by Insulin – Investments Boost Product Development

In view of increased spending by consumers, the market faces a higher demand for innovative insulin delivery patch pumps. For instance, JewelPUMP by Debiotech SA is a highly miniaturized insulin delivery patch pump with temperature sensors dedicated for use by both type 1 and type 2 diabetes patients.

While type 1 diabetics comprise a small portion of the total diabetes patient pool, compared to their type 2 counterparts, they are more dependent on insulin therapy. Their pancreas produce little to no insulin, which makes regular insulin intake vital for their survival. In this case, patch pumps are handy as they eliminate the need to carry an insulin infusion set.

Type 1 diabetes is expected to grow with the fastest CAGR of 11.08% in the disease indication segment during 2023-2030. In 2017, the government-backed Canadian Institutes of Health Research (CIHR) and the Juvenile Diabetes Research Foundation (JDRF) Canada announced the CIHR-JDRF Partnership to Defeat Diabetes, with an investment of $30 million in advanced research for type 1 diabetes. This partnership was further renewed, with an additional investment of $15 million in 2021.

Increased investments, coupled with the growing patient demand for accessing health data in a user-friendly format, have led to the development of smart solutions for diabetes care. For instance, in March 2022, Terumo Corporation partnered with SaaS-based app developer Glooko. This has improved the quality of remote patient monitoring, as the users of Terumo’s Medisafe With insulin patch pump can transfer their data on Glooko’s analytics portal, allowing healthcare professionals to view their patients’ latest health records.

AI & ML Technologies Pushing the Frontiers in Diabetes Care

The rising usage of fitness tracking apps, smart wearables, and connected devices by patients to gain real-time insights have paved the way for advanced and technologically-integrated healthcare. For instance, machine learning uses physiological or activity sensors embedded into smart devices or wearables to deliver personalized therapy, which helps lower hyperglycemia and minimize the overall burden.

In addition, the MiniMed 780G by Medtronic Plc is an advanced patch pump that uses artificial intelligence (AI) to automate insulin delivery. It is incorporated with SmartGuard automation for self-adjusting basal delivery with auto-correction dosing and administering bolus insulin. Particularly, the real-time data offered by such technologies has enabled effective remote monitoring of older or specially-abled patients. Improved patient outcomes and experience are thus expected to drive the global AI in healthcare market at a CAGR of 40.48% from 2019 to 2027.

In a Nutshell

Over the years, diabetes management solution providers have worked to keep up with the evolving needs of diabetic patients. With users’ increasing knowledge and understanding of their condition, companies have responded by upgrading their insulin delivery devices, leveraging the power of technology. For instance, integrating insulin patch pumps with continuous glucose monitoring systems has optimized pump use and improved glycemic response. Such innovations by manufacturers are expected to propel the insulin patch pump market on a growth path.

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Growing Diabetes Incidence to Fuel the Global Insulin Patch Pump Market

Triton Market Research presents the ‘Global Insulin Patch Pump Market’ report sectioned by Delivery Mode (Bolus, Basal, Basal & Bolus), By Product Type (Reusable, Disposable), By Disease Indication (Type 1 Diabetes, Type 2 Diabetes), by Distribution Channel (Online Pharmacies, Retail Pharmacies, Hospital Pharmacies) and by Regional Outlook (Middle East and Africa, North America, Europe, Asia-Pacific, Latin America).

The report further discusses the Market Summary, Industry Outlook (Parent Market Analysis, Impact Analysis, Market Maturity Analysis, Porter’s Five Forces Analysis, Industry Components, Regulatory Framework, Key Market Strategies, Key Buying Impact Analysis, Drivers, Challenges, Opportunities, Analyst Perspective), Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

As per the report by Triton Market Research, the global insulin patch pump market is anticipated to develop at a CAGR of 10.54% in the forecast years from 2023 to 2030.

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 Insulin patch pumps have become a practical option for patients who need insulin therapy as the medical field develops. These devices are more user-friendly, affordable, and smaller than conventional insulin pumps, which makes them a preferred option for patients.

Additionally, technological developments have lessened the need for regular monitoring, which has increased patient demand for a more practical alternative. As a result, more patients are choosing insulin patch pumps over conventional insulin pumps as the knowledge of the advantages of these devices grows. The rising awareness regarding such advanced solutions is expected to drive the global insulin patch pump market’s growth over the forecast period.

While insulin pumps have advantages like accurate dosing and ease, they also come with risks like low blood sugar, weight gain, hemorrhage, and scarring. For instance, the use of interoperable t:Slim X2 pumps is associated with risks such as infection, bleeding, discomforts, or skin irritations like redness, swelling, bruising, itching, scarring, and skin discoloration. The possibility of such dangers may have an impact on the growth of the global insulin patch pump market over the forecasted period.

North America leads the global market, accounting for the highest revenue share in 2022. The market for insulin patch pumps in the region is expected to expand significantly, mostly as a result of rising diabetes incidence, rising per capita income, and rising healthcare costs.

As diabetes affects 11.3% of the population in the US, the market for insulin patch pumps is anticipated to rise at a faster rate there. Additionally, during the projected period, the market expansion is anticipated to be fueled by the use of smart devices and advanced technologies like artificial intelligence & data analytics, as well as the presence of established market competitors.

Debiotech SA, EOFlow Co Ltd, Tandem Diabetes Care Inc, CeQur SA, Terumo Corporation, Medtronic Plc, F Hoffmann La Roche AG, Medtrum Technologies Inc, and Insulet Corporation are some of the leading players operating in this market.

Players in the market require high seed capital. Moreover, the stringent government regulations and the strong presence of established players make it difficult for new entrants to penetrate the market and disrupt the portfolio of leading & gain a significant market share. Moreover, established players make significant investments in research & development to innovate their products and maintain their market dominance. Therefore, the competitive rivalry in the market is high.

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Water Infrastructure & Repair Technology Market: Analysis 2023-2030

Triton Market Research presents the Global Water Infrastructure and Repair Technology Market report segmented by Category (Rehabilitation, Assessment, Replacement, Spot Repair), Application (Industrial, Agriculture, Public Facility), Product (Fittings, Coupling, Pipes & Connectors, Valve, Other Products), End-user (Drinking Water Distribution, Wastewater Collection), and Regional Outlook (Middle East and Africa, North America, Asia-Pacific, Europe, Latin America).

The report further includes the Market Summary, Industry Outlook, Technology Trend, Impact Analysis, Key Insights, Porter’s Five Forces Analysis, Market Maturity Analysis, Industry Components, Regulatory Framework, Key Market Strategies, Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

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 Triton’s report estimates suggest that the global water infrastructure and repair technology market is set to progress with a CAGR of 6.49% during the forecast period 2023-2030.

Water infrastructure and repair technology is used for water management, delivery, and protection. It primarily includes repair technologies that ensure the efficient functioning of water infrastructure across various sectors.

Factors such as increasing migration to urban areas and rising freshwater depletion are expected to generate opportunities for the water infrastructure and repair technology market. As per industry sources, the world is depleting its groundwater at a rapid rate. In Europe, around 60% of cities use groundwater sources. The rise in population also adds to water consumption, leading to the demand for advanced water management systems. However, the high operational cost of these systems impedes the studied market’s progression.

North America is expected to emerge as the fastest-growing region over the forecast period. Several large-scale manufacturers are focusing on expanding their business of rehabilitation technology. Besides this, investments, as well as initiatives to upgrade water infrastructure, are expected to elevate the demand for water repair technologies. This will further fuel the water infrastructure and repair technology market’s expansion over the forecast period.

The key companies listed in the water infrastructure and repair technology market are 3M, Echologics LLC, Picote Oy Ltd, Ecologix Environmental Systems LLC, Aclara Technologies LLC, Aquatech International LLC, Veolia Group, Toshiba Water Solutions Private Limited, DuPont De Nemours Inc, and Suez SA.

Fluctuations in raw material costs and high initial investment restrict the entry of new players in the market. In this regard, the high initial costs include the setup cost of production facilities and patenting technologies. On the other hand, several existing players are establishing manufacturing and distribution units globally. This has ultimately elevated the competition levels among existing players.

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