Sales of Medical Fiber Optics Hit the US$ 1 Billion Mark in 2018, Finds a PMR Study

According to a recent study published by Persistence Market Research (PMR), the rise in the adoption of fiber optics in various procedures reflected in the boosting the value of the medical fiber optics market to crossed the US$ 1 billion milestone in 2018. The convergence of the healthcare and technology has been triggering transformative innovations in the way various procedures are carried out in the healthcare industry, and increasing adoption of fiber optics in medical and surgical techniques is an evidence of the healthcare industry advancing towards a tech-driven future, projects the PMR study.

Increasing inclination of patients towards minimally or noninvasive surgical procedures, coupled with the recent technological advancements that are improving efficiency of these procedures, is mainly attributed for the positive growth prospects of the medical fiber optics market. The PMR study opines that growing uptake of medical fiber optics, not only in surgical procedures but also in the field of diagnostics will provide an impetus to the expansion of the market in the coming decade.

Medical Fiber Optics to Become Indispensable in Illumination and Imaging Applications

Key findings of the PMR study indicate that nearly half the revenue share of the medical fiber optics market is accounted by their applications in illumination and imaging components of medical devices, such as endoscopes. Fiber optics are becoming one of the most favored medical tool owing to its characteristics such as resistance to electromagnetic disturbances, ability to withstand high temperatures, and chemical inertness.

With growing prevalence of fiber optics in minimally invasive surgeries as an imaging or illumination device, the global market medical fiber optics is expected to create the incremental opportunity of around US$ 776 million during 2018-2028, according to the PMR study. Taking into consideration the potential opportunities for fiber optics in illumination applications in the surgical landscape, leading players in the medical fiber optics market are joining forces with technology companies to introduce more innovative features of fiber optics to gain a competitive edge in the market.

Advancements in Fiber Optics Technology will Foster Innovation in its Medical Applications

Increasing demand for endoscopes in minimally invasive surgical procedures and recent discoveries in the field of fiber optics have opened a window of opportunities for manufacturers in the medical fiber optics market. Manufacturers are focusing on leveraging the technological advancements to offer innovative features to improve the surgical efficiency for healthcare professionals, and ultimately, to gain a competitive edge in the medical fiber optics market, finds the PMR study.

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The study also finds that increasing investments by market players in the advanced fiber optics technology and product innovation are mainly directed towards improving the efficacy of medical fiber optics not only in the surgical techniques but also in versatile diagnostic procedures. Furthermore, exploring the potential for advanced fiber optic technology in innovative applications such as fiber optic biomedical sensors will redefine the future growth parameters of the medical fiber optics market, opines the PMR study.

Phytochemicals Market is predicted to grow 4.7% year-over-year to total US$ 5.2 billion in 2019

The idea of ‘Living healthier, longer lives’ is being ubiquitously followed by a majority of global demographic. With countries across the globe witnessing escalating growth of population, the goal to aid individuals in achieving optimum health prioritizes the list of healthcare providers. While innovators persist to report the benefits of plant-based diets on consumers, as well as the surroundings, phytochemicals are garnering immense popularity from worldwide research in recent times. Fat, cholesterol, calcium, and anti-oxidants remain the center of gravity when it comes to discussing nutritional aspects and quality of human diet, whilst phytochemicals yet to enter the minds of health-conscious individuals.

Phytochemicals are not recognized nutritious following the absence of nutritive aspects, and imparting aroma to the flora. Yet, proven studies find that phytochemicals are crucial for the human body with regard to boosting the immune system, protecting the body from oxidative damage, and reversing the growth rate of cancerous cells. In addition, phytochemicals are naturally-derived chemicals, making them suitable as an organic food ingredient.

According to the recent study by Persistence Market Research, the phytochemicals market is estimated to grow at a Y-o-Y of ~4.7% corresponding to a value of ~US$ 5 Bn in 2019 and is forecasted to peg ~US$ 9.0 Bn by the end of 2029. The rising inclination towards organic and natural food consumption among the consumers, particularly, millennial, remain the messiah of the market growth. Further, consumers’ trend towards vegan diet is propelling the demand for plant-based ingredients.

High Demand of Phytochemicals from the Cosmetics & Personal Care Industry Following Anti-Aging Properties

Phytochemicals align with the emerging trends of ‘veganism’ and ‘vegetarianism’, with Gen Y shifting away from meat and animal-based products while following a healthy diet. A broad array of green ingredients, including phytochemicals, are making forays into the cosmetics & personal care products. Anti-aging products appear to be sought-after in the sphere of cosmetics & personal care. Phytochemicals encompass anti-aging aspects, enabling their application in cosmetics to deliver stable solutions to curb anti-aging issues.

Extracts derived from phytochemicals, such as Lagerstroemia speciosa and Lagerstroemia floribunda, hold varied anti-aging properties in skincare formulations without any side effects on the skin. Fluctuating lifestyles of consumers in tandem with the focus on appearance is set to boost the demand for anti-aging products. In addition, the rising awareness regarding the skin benefits from natural and herbal products is expected to be the next leg of growth for the demand for plant-based skincare solutions.

Phytochemicals in Food & Beverages – The Goal to Achieve Optimum Health Naturally Amplifies the Demand

A majority of consumers hunt for healthy consumables, influencing the food & beverage producers to deliver customer-centric offerings. The millennial cohort is representing a shift of approach towards food products with affluent nutritional values. Phytochemicals consist of essential nutrients, and antioxidants, beneficial in treating various chronic illnesses, including cardiovascular disease. In addition, the presence of plant sterols, flavonoids, and sulfur-containing compounds in phytochemicals offer a multitude of health benefits.

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Realizing the plethora of nutritional perks, manufacturers are incorporating phytochemicals to produce consumer-specific dietary consumables. Phytochemicals are becoming commonplace in plant-based medicines owing to antioxidant and anti-inflammatory aspects. Accompanied by the preference for plant-based ingredients, phytochemicals are set to observe significant traction.

Phenolic Resins Market Resonate with the Surging Demand for Plastics with Desirable Physiochemical Properties

The requirement for thermosetting plastics revealing great heat inertness, sturdiness, and fire-resilient aspects is increasing manifolds, thereby, amplifying the usance of phenolic resins across the globe. Phenolic resins are finding purpose in diverse applications – forest products, molding, burnisher, bricks & clays, and rubber vulcanization. However, phenolic resins are facing cut-throat competition with rival plastic, including polyethylene and polystyrene, restricting the growth.

Continuous experiments for decades have resulted in the commercial exposure of phenolic resins. The versatility of phenolic resins encourages manufacturers to leverage nanotechnology for enhancing specific characteristics of the resins. Phenolic resins are becoming commonplace in diverse sectors – electronics, and construction – following good mechanical aspects, and enhanced aesthetics. With concerns apropos environmental degradation escalating, phenolic resins are a great fit as eco-friendly variants.

In its new business intelligence report, Persistence Market Research suggests that the phenolic resins market reached a value of ~ US$ 6.5 Bn in 2018 with the sales estimated to ascend by ~3% in 2019 and the market is spectated to grow at a steady CAGR of ~4% over the stipulated timeframe. The constant demand for lightweight components in diverse industries, especially automotive, is set to propel the market. In addition, application of phenolic resins in the form of wood adhesives, molding powders, binders, laminating resins, and surface treatments is envisioned to sustain market growth.

Phenolic Resins – An Ideal Solution for the Automotive Sector Seeking Lightweight Components

With the lightweight trend increasingly penetrating into the automotive arena, innovators substituting metallic constituents with plastic- or fiber-based composites. Automobile manufacturers are thriving to achieve fuel and energy efficiency, realizing stringent environmental norms. As such, the substitution of metallic parts in the automobile sphere by recently formed phenolic molding composites, including phenolic molding composites derived from glass fiber and carbon fiber, becomes imminent.

The fact that weight decrement in automobiles equates to fuel efficacy is influencing automakers to focus on weight cutting of friction components. As the friction component is increasingly burdened with the applied frictional load, the demand for phenolic resins intensifies following excellent heat resilience. With the governments across the world issuing a clarion call for the production of electric vehicle fleets, car manufacturers are banking on sheet molding compound (SMC)-based phenolic resin systems to design durable, and fire-resilient battery boxes in EVs.

High Temperature and Moisture Resistance Paves the Way for Phenolic Resins in Adhesives

Phenolic resins are being utilized in adhesives for satiating the need for wood offerings and molding composites displaying good aesthetics. Adhesives based on phenolic resins are observing wide acceptance across industries, including processed wood products, infrastructure, and automotive, as surface treatment and binding agents.

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Phenolic resins showcase great resistance to moisture, and extreme temperatures, ideal for binding woods, such as plywood, laminated veneer lumber (LVL), and oriented strand board (OSB). The nitrile-phenolic adhesives deliver high peel strength suitable for seal–bonding applications in aircraft integral fuel tanks. In addition, phenolic resins exhibit low VOC emissions as compared to rival resin binder systems, for instance urea-formaldehyde.

The Requisite to Achieve Sustainability Pushes the Market of Smart Bicycle Accessories

In an effort to ascend the leveraging of sustainable energy sources, and tackle the emission of toxic greenhouse gases (GHGs), bicycles are re-garnering prominence in recent times. As technological developments alongwith the advent of electric automobiles witnessing an upward swing, the transformation of smart bicycles from vision to reality is inevitable. Innovation is becoming par for the course in diverse sectors to aid organizations to reimagine their products and services.

As electric bikes are cropping up off-road, the need for appropriate gear is observing a significant rise. Subsequent advances in technologies are disrupting the cycling regime, leading to the onset of a broad array of smart bicycle accessories for safes and easier cycling sessions. In addition, growing enthusiasm among professional cyclists for monitoring activities, such as training sessions, and racing intensity, in real-time is contributing to the prominence of smart bicycle accessories.

As per the latest market intelligence study by Persistent Market Research, the global smart bicycle accessories market pegged slightly above a million in 2018 and is anticipated to progress at a CAGR of ~8% over the foreseeable period. Surging adoption of electric bicycles as an environmentally friendly mode of commute in developed and developing countries primarily drives the market growth.

Smart Onboard Computers Lead the Pack Following Ample Storage of Data and Safe Riding

Smart onboard computers are becoming a necessity for cyclists in the present data-driven world. With benefits, including compact size, lightweight and prolonged battery life (typically 10-15 hours), smart onboard computers easily dominate the list of smart bicycle accessories. In addition, smart onboard computers are capable of storing large chunks of data in the database.

The culture of cycling is gaining presence in the form of transport, physical activity or leisure. Cyclists are curious about knowing various sorts of information while riding bikes, for instance, top speed, heart rate, and calories burnt, to make cycling more interesting. As technology advances, smart onboard computers are coming with GPS features for long-distance trips. The GPS-enabled smart onboard computers allow saving a home location and mapping of routes, preventing bike riders from getting lost. Furthermore, smart onboard computers are compatible with smartphone apps for enabling straightforward cycling.

Heavy Traffic Congestion in North America and Europe Results in High Adoption of Bicycles

Traffic congestion in North America in surging by ~17%, while in Europe, following increased adoption of bicycles as an efficient means of commute to workplaces, the traffic congestion is increasing sluggishly by ~2%. The European government is providing complete support with regards to the employment of bicycles in a bid to counter casualties due to traffic congestion.

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In the wake of escalating concerns apropos ecological preservation, smart bicycles are emerging as an innovative commuting solution in the US, and the EU5. With urban demographics boosting, the traffic in major cities is becoming uglier. Governments are channelizing investments on the construction of separate bike lanes, and pedestrian-friendly streets, thereby the demand for smart bicycle accessories is likely to mushroom.  

Immunoassay Interference Blocker Market: Sales Driven by Growing Criticality of Efficient Immunoassay-Based Rapid Testing

Continuous innovation in the healthcare sphere tends to drive enhanced research potentials for gaining an edge in clinical diagnosis, and biochemical evaluations. Healthcare professionals are going above and beyond by performing consistent clinical efforts towards bettering disease diagnosis in a bid to deliver efficient patient care to individuals. Laboratory experiments, including immunoassay tests, influence majority of medical decisions. Biotin interference results in inaccurate outcomes, amplifying the risk of irrelevant and irreversible treatment. As a consequence, immunoassay interference blockers are an ideal solution aligning with the persisting technological developments and increasing demand for better evaluation.

Concerns regarding chronic diseases have been hovering around the globe since decades. The dire need for effective and accurate medical results to prevent or cure chronic illnesses is paving way for immunoassay interference blockers, such as antibody interference blockers and detection interference blockers. Further, immunoassay interference blocker reagents and kits based on human or animal serum have been witnessing boom since the past decade.

As per the new business intelligence study by Persistence Market Research, the immunoassay interference blocker market is estimated to generate a revenue of ~US$ 210 Mn in 2019 and is spectated to progress at a CAGR of ~6.5% during the stipulated timeframe 2019-2027. Escalating prevalence of chronic diseases, as well as increasing geriatrics across the globe primarily drive the need for biochemical analysis for the control of chronic diseases. In addition, the uptick in elderly cohort is observed to boost the demand for diagnostic kits and reagents for detecting age-related, as well as other chronic issues, which is set to propel the immunoassay interference blocker market.

Antibody Interference Blockers Majorly Influence the Healthcare Sector

Unwelcome cross-reactivity is one of the major factors of interferences in diagnostic immunoassays. Heterophilic antibodies (antibodies reacting with other antigens instead of its respective antigen), such as rheumatic factors, and human-anti-mouse-antibodies (HAMA), result in subpar outcomes.

Antibody interference blockers – a formulation of highly pure immunoglobulins (IgGs) – are particularly targeted against human anti-species antibodies actions. Legacy interference blockers, including, mouse serum, mouse lgG, goat serum, and goat lgG, are efficient in partial elimination of interference. Antibody interference blockers incorporate active and passive blocking agents, where the former exhibits good affinity for heterophilic antibodies.

With antibody interference blockers, false-positive or false-negative outcomes are countered, thereby improving the quality of diagnostic immunoassays. Further, the antibody interference blockers are formulated into the sample diluent at different concentrations to create the working concentration for each antibody pair.

The US and China Offer Eye-Catching Opportunities to Market Players

Manufacturers of immunoassay interference blocker are centering their focus on The US and China following rising incidents of chronic diseases. Majority of individuals in the US suffer from at least one chronic disease, including heart disease and stroke, cancer, or diabetes. In addition, chronic diseases top the list of the leading causes of mortality and abnormality in the country.

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Chronic diseases – ischemic heart disease, and lung cancer – represent the major reasons behind premature demises in China, according to a study. As a consequence, the frequency of molecular diagnosis increases, driving the demand for immunoassay interference blocker reagents and kits from biotechnology industry, and medical settings.

Sales of Soy-based Hydrolyzed Plant Protein Powders to Soar; Opportunities in Cosmetics Industry to Complement Growth: PMR

Veganism has been witnessing immense popularity across both developed as well as developing countries, which is driving a palpable shift from meat to plant-based alternatives for animal-sourced ingredients. A recent study published by Persistence Market Research (PMR) found that the number of consumers jumping on the bandwagon by adopting vegan and healthy dietary habits is multiplying at a rapid pace, and this has triggered the sales for hydrolyzed plant protein worldwide.

In 2018, nearly 515 kilo tons of hydrolyzed plant protein was sold globally, and the market reached a valuation of approximately US$ 1.6 billion, finds the PMR study. It estimates that the global sales will surpass 563 kilo tons in the hydrolyzed plant protein market in 2019, and veganism on the rise will continue to remain the primary driving engine of the market in the coming decade. Stakeholders in the hydrolyzed plant protein market are expected to ride on the coattails of health-driven consumer demands and recent technological innovations in the manufacturing of hydrolyzed plant proteins in the future.

The PMR study finds that the adoption of soy-based hydrolyzed plant protein increased significantly to account for nearly three-fifth share in the revenue of the global market in 2018. It also finds that hydrolyzed plant proteins in powdered form are witnessing higher demand than their liquid variants, holding nearly three-fourth revenue share of the market. Consumers are becoming aware about the health benefits of soy-based proteins, and as soy protein powders are highly close to animal-based protein in nature, its demand will continue to grow through 2029. The study also finds that the sales of diverse sources of hydrolyzed plant protein, such as rice, wheat, and pea, will increase at a healthy rate in the coming decade.

The study projects that leading players in the hydrolyzed plant protein market are increasing focus on exploring the industrial applications of hydrolyzed plant protein different from the food and processed food industry. Stakeholders are foraying into the cosmetics and personal care industry, as consumers’ need for plant-based ingredients are not limited to food products; consumers are spurning cosmetics and personal care products with chemical ingredients. New sales opportunities for hydrolyzed plant proteins in the cosmetics industry will continue to bolster growth of the global market, opines the PMR study.

Awareness about Health Benefits Boosts Adoption of Hydrolyzed Plant Proteins as Flavor Enhancers

Health benefits of ingredients derived from plants are becoming known to many, and consumers focusing on changing their dietary habits to control the prevalence of lifestyle diseases such as cardiovascular diseases and obesity, are preferring food products with vegetarian ingredients. As consumers are voicing the need for health-benefitting food products with natural, plant-based ingredients along with rich flavors and taste, food manufacturers are resorting to hydrolyzed plant proteins as a flavor enhancer.

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Not only in vegetarian food products, but hydrolyzed plant proteins are also used extensively in the preparation of processed meat products, such as sausages, find PMR. With increasing demand for hydrolyzed plant protein as a flavor enhancers and an integral functional ingredient in a vast range of food products, the global market will continue to witness healthy growth in the coming years, opines the PMR study.

Electric Parking Brakes Tick the Boxes of Safety and Energy Efficiency

As customers’ inclination towards safe traveling, convenience, and automobile stability takes an upward swing, electric parking brakes continue to replace the traditional brakes in modern vehicles. Electric parking brakes offer valuable aspects, including internal appearance, durability, and space management to new-age automobiles. Further, electric parking brakes ensure abatement of energy consumption, as well as vehicle weight, thereby swiftly making forays into the automobile industry.

Electric parking brakes are easily compatible with all sorts of vehicles, regardless of size and power capacity. Carmakers are focusing on improving the safety of light commercial vehicles (LCV) and heavy commercial vehicles (HCV) with better versions of electric parking brakes. Such developments in the automotive bracket are transmuting the legacy vehicle designs, implying possibilities for advancements with the coming-of-age solutions in the sphere of electric parking brakes.

Realizing the growth outlook of electric parking brake systems, Persistent Market Research, in its new business intelligence study, suggests that the sales of electric parking brakes reached an equivalent of ~US$ 1.2 Bn in 2018 and the market is anticipated to grow at a healthy CAGR of ~12% over the forecast period 2019-2029. The growth is primarily attributed to the prominence of alternative powertrains – electric vehicles – integrated with essential power electronics in tandem with customers’ demand for safe driving vehicles. However, counterfeiting activities of vehicle parts tend to affect market growth.

Electric-Hydraulic Caliper Systems – Greater Modulation, Durability, and Stability

Electric-hydraulic caliper systems deliver enhanced system proficiency, better convenience for the drivers, and decreased plumbing expenses as compared to the run-of-the-mill cable-pull systems. Electric-hydraulic caliper systems offer greater modulation (single or dual pivot), and braking. In addition, the dual-pivot versions provide exceptional stopping capability. With decent brake pads, electric-hydraulic caliper systems work well in rainy conditions.

Electric-hydraulic caliper systems remain within consistent lubrication, implying that they undergo wear & tear at a considerably slower rate. As such, electric-hydraulic caliper systems offer greater durability against their legacy siblings. The fact that electric-hydraulic caliper systems are under low stress demands for lesser adjustment. Furthermore, the fluid cools the braking system, providing improved stability under heavy loads.

Passenger Vehicles Remain the Top Employer of Electric Parking Brakes Following Hill-Hold Feature and Lightweight Aspect

Electric parking brakes need significantly low physical intervention. The braking system requires minimal adjustment, unlike its conventional counterparts, offering free room inside the cabin, particularly at the center console. A majority of electric parking brakes retreat automatically in case the driver drags away, accompanied by an additional hill-hold feature. With automobile manufacturers turning to electric parking brakes at a sweeping rate, experts claim that the traditional handbrakes are on their last legs.

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Production and assembly of automobiles become straightforward for automotive engineers following the fact that electric parking brakes do not require handbrake lever and handbrake cables. In addition, the deployment of electric parking brakes ensures reduced weight versus mechanical parking brakes. Owing to the umpteen benefits, electric parking brakes are becoming commonplace in passenger vehicles (PV), especially SUVs and high-end cars.

Cellulose Derivative Excipient Market is projected to grow at a CAGR of ~6% between 2019 and 2029

Persistence Market Research recently published a well-curated market study that suggests that the market value of the global cellulose derivative excipient market is estimated to reach ~US$ 300 million in 2019. Further, the report reveals that the market is expected to surpass ~US$ 500 million towards the end of 2029 and likely to grow at a CAGR of ~6% over the forecast period, 2019-2029. According to the study, the favorable mechanical and physicochemical properties of cellulose derivatives play a crucial role in the development of dosage forms and healthcare products in the pharmaceutical sector – a leading factor that is expected to boost the growth of the cellulose derivatives excipient market in the upcoming years.

The presented market study offers a thorough analysis of the numerous factors that are forecasted to influence the growth of the market during the forecast period. Cellulose ethers and cellulose esters are the semi-synthetic cellulose derivatives that play an imperative role in various pharmaceuticals including, extended and delayed-release coated dosage forms, osmotic drug delivery, mucoadhesives, bioadhesives, compressibility enhancers and more. Thus, owing to the various benefits and their role in the manufacturing of new derivatives, cellulose derivatives excipients have garnered significant popularity in recent years.

A surge in the Adoption of Oral Solid Dosage Products Expected to Propel Demand for Cellulose Derivative Excipients

In the last few years, the pharmaceutical and the healthcare sector experienced considerable growth owing to a range of factors including, the rising volume of the aging population and significant advances in the pharmaceutical sector. The growth of the pharmaceutical sector has played a key role in increasing the demand for coatings, flavoring agents, binders, disintegrants, and capsules. Further, according to several research activities in the pharmaceutical field, cellulose derivative excipient has emerged as one of the most ideal ingredients to formulate different medicines. Moreover, the market study put forward by Persistence Market Research indicates that capsules, dissolving tablets, and extended-release tablets that are segmented into the oral formulation category are expected to account for a significant market share over the forecast period.

The global cellulose derivative excipients are expected to witness steady growth in the forecast period due to the snowballing demand for oral solid dose form drugs – a trend that is expected to continue in the upcoming years

Demand for Cellulose Derivatives in Sustained Drug Delivery Systems to Boost Market Growth

In the current scenario, bio-degradable, bio-available, and bio-compatible excipients have garnered immense interest in sustained drug delivery systems. In addition, owing to the distinct binding and natural properties, cellulose derivatives have taken the center stage in multiple pharmaceutical studies and are widely used in controlled drug delivery systems as cellulose derivatives can influence the solubility of drugs – a critical aspect in regulating the release profiles of medicines.

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East and South Asia Offer Lucrative Prospects for Market Growth

The flourishing pharmaceutical sector in the developing nations of South Asia and East Asia including, India, South Korea, Japan, and China is a key factor that is expected to shape the growth of the cellulose derivative excipients market in the upcoming years. In addition, the market is forecasted to grow at a CAGR of ~8% in South Asia owing to the consistent growth in healthcare investments, growing number of research and development activities, and the surge in pharmaceutical production.  

Global Business Continuity Management Market to Reach a Value of ~US$ 1.6 Billion by 2029: PMR Study

According to a market study published by Persistence Market Research (PMR), the global business continuity management market is expected to attain a market value of ~US$ 1.6 billion by the year 2029. Further, the report states that the estimated value of the market in 2019 is ~US$ 400 million and the market is projected to witness an impressive growth with a CAGR of ~13% during the forecast period, 2019-2029.

Over the last decade, owing to the rapid progress in technology and the integration of multiple software management systems, companies worldwide are vulnerable to potential risks. Moreover, in the current digital era, cybersecurity is an imperative aspect of a company to safeguard critical information, avoid financial loss, and prevent unexpected downtime. Thus, the demand for business continuity management witnessed considerable growth in the last few years and the trend is expected to continue in the upcoming years as more and more companies are investing resources on business continuity management solutions. At present, businesses are opting for business continuity management systems for a range of applications including, optimizing digital technologies, cloud disaster recovery, weather intelligence, data duplication, data protection, and real-time alerts among others.

Growth in Business Continuity Consulting Services Expected to Improve Adoption

Companies worldwide have realized the need to develop and integrate a full-proof business continuity management infrastructure to mitigate data and financial losses. In addition, although companies are increasing their focus on developing full-proof business continuity plans, the distributed and integrated nature of the modern-day hybrid IT landscape puts forward significant challenges for companies. Thus, as companies struggle to evolve their existing business continuity strategies in accord with the hybrid IT landscape, business continuity consulting services have emerged to address the growing requirements of companies.

Thus, as business continuity consulting services are on the rise, the business continuity management market is expected to witness considerable growth in the upcoming years. In addition, as cyber-attacks continue to surge, several companies are shifting from conventional recovery techniques towards automated recovery solutions – a factor that is expected to generate significant demand for business continuity management systems.

High Demand for Software/Platform to Influence Market Growth

As per the presented study by PMR, the software/platform category is forecasted to garner significant pace over the forecast period owing to a range of factors. For instance, the growing requirement to adhere to industry regulations is a leading factor that is contributing to the large-scale adoption of software solutions. In addition, the consistent evolution of business environments and the onset of advanced data recovery solutions are playing an imperative role in the growth of the global business continuity management planning solution market. In addition, the market study reveals that the software/platform segment is likely to grow at a CAGR of ~14% over the forecast period banking on the aforementioned growth factors.

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The presented market study by PMR states that market players operating in the current business continuity management market are highly focusing on innovations, development of cutting-edge recovery systems and refining the existing recovery framework.

Telemedicine Market to Advance on the Back of Growing Popularity of Homecare Settings – Finds PMR Study

A recently published study by Persistence Market Research (PMR) opines that the telemedicine market will witness a staggering growth during 2019-2029, and the prevalence of chronic diseases that require strict monitoring is projected to exert high influence on the landscape. The report also shows that patients prefer investing in telemedicine over expending heftily on hospitalization, as the former offers better comfort than a hospital. Governments of numerous countries have played a crucial part in expanding the outreach of high-end healthcare services to urban and rural areas, which has, in turn, benefitted the telemedicine vicinity.

In the future, wireless technologies will remain integral in revolutionizing the telemedicine landscape; however, market players need to take ample care to secure the privacy of patients and their data to avoid getting trapped in the lawsuits.

Technology to Unlock Lucrative Prospects for Telemedicine Market

According to the study, penetration of smartphones at an exponential rate coupled with affordable yet effective Internet plans are likely to offer promising opportunities for the landscape with the advent of mobile health (also known as mHealth) concept. What’s more promising of an opportunity for the landscape is the fact that platforms aren’t only restricted to smartphones but extend to even devices such as computer and tablets. Also, mobile technology is gaining huge momentum in imparting medical training, which aims to serve medical students and interns operating from remote locations. The advent of reliable wireless network technology will further bring to the fore quick yet qualitative healthcare features such as diagnostic software, e-prescriptions, and electronic health, in the coming years.

Telemedicine – A Boon for Patients Leading Fast-paced Lives

The report shows that the homecare settings are growing at an exponential pace, given the influence of the fast-paced lives of patients. Besides the popularity of telemedicine as an effective medium to reduce travel time to healthcare settings as well as hospital stays, it resonates well with patients on account of its cost-effective benefits. The cost benefits of this system are highly attributable to a large patient pool sharing the same telemedicine infrastructure, which offers better utility of the platform along with successful consultation. The reciprocal advantage that patients and medical personnel receive will further augur well for the landscape during the forecast period.

With a large number of medical personnel, well-established healthcare facility, and penetration of technology, North America makes an attractive telemedicine market. Better acceptance of technology in the U.S. and the surging demand for equipment, used to set up monitoring and consultation facility at homes, is anticipated to drive the deployment of hardware and software for telemedicine.

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From an innovation standpoint, a high concentration of market players involved in research and development activities is projected to push the envelope of the landscape. For instance, in May 2019, a leading market player – Optima Health – announced the launch of CareLink, in collaboration with MDLive to offer quality healthcare services to masses. All-in-all, with improved healthcare features, pipeline projects, and patients showing appreciation for digital health concepts, market players can anticipate the telemedicine market advancing at a CAGR of ~17% during 2019-2029.