Laboratory Furniture Market: Leading Segments and their Growth Drivers 2020-2027

Transparency Market Research delivers key insights on the global laboratory furniture market. In terms of revenue, the global laboratory furniture market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the laboratory furniture market report.

In this market report, TMR predicts that, the increasing number of safety regulations is driving the demand for laboratory testing services. Rising incidence of health issues among the population, worldwide, is creating the demand for new medical laboratories across hospitals as well as private centers. This, in turn, is anticipated to increase the demand for laboratory furniture.

Additionally, increasing government funding to medical schools and colleges is further anticipated to boost the laboratory furniture market. The rising demand for medical laboratories coupled with the increasing enrolment of medical students in medical schools and colleges is anticipated to raise the demand for more medical laboratories in schools and colleges, which, in turn, is anticipated to boost the laboratory furniture market.

However, the high initial investment required for laboratory furniture is anticipated to be a restraining factor for the growth of the laboratory furniture market. Laboratory furniture is expensive and has a longer lifecycle; hence, the replacement rate is very low. This restrains the growth of the laboratory furniture market.

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However, technological advancements in terms of enhancing functionality are anticipated to boost the laboratory furniture market. New product developments enhance laboratory furniture efficiency, thus making it more user-friendly with low maintenance cost, which is anticipated to drive the demand for laboratory furniture. Additionally, increasing automation levels in manufacturing techniques in order to improve productivity is expected to boost the demand for laboratory furniture. For instance, computer-monitored supply and logistics systems are expected to boost the demand for laboratory furniture.

According to the report, laboratory tables, stools & chairs, pedestal furniture, etc., dominated the market, both, in terms of value and volume. These types of furniture have extensive user application in medical laboratories. Additionally, pedestal furniture is preferred in medical laboratories as they are best suited for confined spaces.

In terms of end use, medical laboratories acquired greater share of medical furniture as compared to medical schools and colleges. This is due to the high user rate and replacement rate of medical furniture in medical laboratories. Additionally, the demand from schools and colleges is rather low, owing to the high lifecycle of laboratory furniture.

According to the report, offline channels are dominant in the laboratory furniture market. As laboratory furniture is expensive, distributors and suppliers play a significant role in bridging the gap between demand and supply. Distributors and suppliers have a wide network of customers spread, worldwide. Additionally, key manufacturers of laboratory furniture are few in number, owing to which, distributors and suppliers play a significant role. The market share for online channels is low as they primarily act as aggregators for many manufacturers for a particular location.

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Currently, Europe dominates the laboratory furniture market, followed by the Asia Pacific region. This is due to the presence of good medical infrastructure in Europe, coupled with the rising demand for new medical laboratories owing to growth in medical research activities.

Asia Pacific is estimated to experience prominent growth in the laboratory furniture market in the near future owing to rising population. This increasing population is expected to lead to growing health conditions in the Asia Pacific region. This, in turn, is expected to proliferate the demand for medical laboratories, thereby resulting in the growth of the laboratory furniture market.

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Down and Feather Market: High-growth Regions to Expand Geographic Footprint 2020-2027

The global down and feather market is expected to reach a value of US$ 8812.5 Mn by 2027. The market is projected to expand at a CAGR of 7.0% in terms of value during the forecast period from 2019 to 2027, according to a new research report by Transparency Market Research (TMR).

Consumers are opting for down and feather products due to inclination toward natural products. There is rapid growth in the apparel industry that widely uses down and feathers in warm jackets, comforters, etc. Consumers prefer hypo allergenic products to avoid severe allergy problems. Hence, down and feathers are considered to be the right options. The growth in the bedding industry across the globe considers down and feather for filling as a natural mattress component. This factor drives demand for down and feathers.

With growth in the residential and commercial sector all over the world, consumers are opting for better furnishing to match the interior design. Down and feather is found to be utilized as a natural filling in furnishing products such as cushions, pillows, and bedding to provide high comfort. With the increase in renovation in the residential and commercial sector, people are opting for synthetic free natural furnishing products which includes fillings of down and feather, regenerating demand in the down and feather market. Rise in demand for specialty mattresses due to the rising consumer inclination toward eco-friendly and health-promoting products is fueling the demand for down and feathers.

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Growth in the residential and commercial segment due to rise in urbanization has improved the standard of living. This has encouraged consumers to opt for matching interior designs, promoting the purchase of down and feather bedding, pillows, and comforters. The primary processing of down and feather may vary based on the application of the end product. Based on origin, the duck segment is anticipated to expand at a CAGR of over 7.2% during the forecast period from 2019 to 2027.

Down and feather market has been segmented in the basis of origin, product type, distribution channel, and region. In terms of origin, the duck segment is anticipated to grow with a CAGR of 7.2% during the forecast period from 2019 to 2027 owing to high consumption of duck across the globe. The most commonly used products by end-users in the global market are bedding, comforters, pillows, and apparel. Comforters was the largest segment of the down and feather market in terms of value in 2018.

In terms of product type pillows and apparel segment is expected to have a higher demand in coming tears. In 2018, comforters segment which comprises duvets and quilts accounted for the major share. However, pillows are also preferred by consumers due to their hypo allergenic property which is filled by down and feather.

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North America accounted for the higher market share in 2018 and expected to maintain its dominance in coming years. Asia Pacific is the fastest growing market over the forecasted period.

Key players operating in the global down and feather market are Allied Feather & Down, Bettfedern Handelsgesellschaft mbH & Co. KG (Rohdex), United Feather & Down, Inc, Norfolk Feather Company, Down-Lite International, Inc., Hans Kruchen, Heinrich Häussling GmbH & Co., Feather Industries, KL Down, and Maya Tekstil.

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Physician Dispensed Cosmeceuticals Market: Factors Helping to Maintain Strong Position Globally 2020-2026

Transparency Market Research (TMR) has published a new report titled, “Physician Dispensed Cosmeceuticals Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global physician dispensed cosmeceuticals market was valued at US$ 14,311.52 Mn in 2018. It is projected to expand at a CAGR of 10.3% during forecast period.

The global physician dispensed cosmeceuticals market is anticipated to be driven by factors such as emphasis on beauty and appearance, rising awareness about anti-aging, and assurance about safety and efficacy of physician-dispensed cosmeceuticals. The physician dispensed cosmeceuticals market in Asia Pacific is expected to expand at a high CAGR of 12.0% due to changes in lifestyle and cultural attitudes, increasing pollution levels, and potential high consumer base. The region has witnessed increase in purchasing power and better exposure to international brands.

Increasing demand for cosmeceuticals

Physician dispensed cosmeceuticals include medicated esthetic products that are referred by dermatologists, trichologists, cosmetic surgeons, and allied medical professionals. These products are dispensed at skin and hair clinics, beauty and wellness centers, and are available as OTC products through selected retail outlets. Increasing levels of stress, pollution, and climate change can cause damage to the skin, hair, and eyes.

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This has created a demand for cosmetic products to treat a wide range of dermatological conditions. Cosmeceutical companies, therefore, are developing newer and advanced cosmeceuticals to target these medical conditions. Consistent demand for advancements in skin care and beauty products is leading to exciting new entries of various products in the physician dispensed cosmeceuticals market.

Entry of new players in the market

Various locally based cosmetic professional startups specializing in the manufacture and marketing of cosmeceuticals owned by dermatologists have recently entered the physician dispensed cosmeceuticals market in order to cater to the demand for cosmeceuticals among the local population. New entrants in the cosmeceuticals industry from developing countries include ZO Skin Health, Inc. (Japan), CU SKIN Co., Ltd. (Korea), Dr. Batra’s Skin & Hair Clinic, VLCC, and Kaya Skin Clinic (India). Hence, newer and advanced products are anticipated to enter the physician dispensed cosmeceuticals market in the next few years. Emergence of new concept of herbal medicine is paving the way for the demand for organic physician dispensed cosmeceuticals. These factors drive the global physician dispensed cosmeceutical market.

The global physician dispensed cosmeceuticals market has been segmented based on product type and region. Furthermore, in terms of product type, the market has been divided into skin care products, hair care products, eye care products, injectable Botox, and others. The skin care products segment accounted for a major share of the global physician dispensed cosmeceuticals market in 2017, as the nature of cosmeceuticals demanded by consumers is largely to treat dermatological conditions. Increasing awareness about personal appearance among the geriatric population and changing attitudes of middle-aged and geriatric populations in developing countries have fueled the demand for cosmeceuticals in order to eliminate the outward signs of aging. The anti-aging segment is expected to maintain its dominance of the market during the forecast period. Similarly, dermal fillers and injectable Botox segments are expected to expand from 2018 to 2026.

Huge consumer base in Asia Pacific to create opportunities in market

In terms of region, the global physician dispensed cosmeceuticals market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is mature and technically developed, as compared to the other regions. Hence, the region accounted for a prominent share of the market, in terms of revenue, in 2017.

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Europe is anticipated to account for a significant share of the global market between 2018 and 2026. Surge in awareness among consumers about cosmeceuticals is expected to fuel the market in the region during the forecast period. The market in Asia Pacific is likely to expand considerably during the forecast period. Increasing preference to retain beauty and youthful appearance drives the demand for effective cosmeceuticals. These factors are expected to propel the demand for cosmeceuticals in this region. Moreover, increasing focus of key players on expansion in Asia Pacific, huge consumer base in the region, and rising awareness drive the physician dispensed cosmeceuticals market in Asia Pacific.

Key players profiled in this report are Allergan plc, Jan Marini Skin Research, Inc., Johnson & Johnson, L’Oreal S.A., Procter & Gamble Co., Bausch Health Companies Inc., Unilever plc, and ZO Skin Health Inc. Companies operating in the global physician dispensed cosmeceuticals market focus on development and launch of new cosmeceutical products in emerging markets such as Asia Pacific and Latin America.

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High Visibility Clothing Market: Consumption, Sales, Production, and Other Forecasts 2020-2030

Transparency Market Research delivers key insights on the global high visibility clothing market. In terms of revenue, the global high visibility clothing market is estimated to expand at a CAGR of 6% during the forecast period of 2020 to 2030, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global high visibility clothing market report.

In the report, TMR predicts that the global high visibility clothing market would be largely driven by rising awareness about worker safety in the construction industry, which is expected to continue to boost the market during the forecast period.

Safety and health issues are being increasingly given preference across all industries due to enforcement of various laws in different regions. These laws include OSHA (Occupation Safety & Health Administration) in the U.S., and CCHS in Canada.

Awareness among workers about their rights and safety measures have led to extensive adoption of personnel protective gear. High visibility clothing has been a major part of such gear and is being increasingly adopted among workers working in dangerous and dark surroundings such as mining.

According to a survey conducted in the U.S. for views of industrial workers on safety clothing, more than 70% of participants preferred comfort over style. Consequently, mainstream players are focused on the development of lightweight materials with enhanced comfort in their clothing line-up. Textile manufacturers are entering the high visibility clothing market by understanding its global demand.

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Local clothing manufacturers have also forayed into the manufacturing of high visibility clothing, which are cost-effective, as compared to products offered by mainstream players, thereby hampering the market for major key players. Manufacturers have developed online portals due to order of such clothing in bulk, to avoid the intermediates between them and customers, through which an industrial organization can order the product in bulk.

High visibility clothing provides visual alertness to the other person heading toward the wearer. Many small firms are ignorant about such protective equipment. Moreover, wearing only the upper vest serves the purpose in most cases and hence, this reduces the chance for the expansion of other product types in the market. Limited application of high visibility clothing hinders the market.

Mines, oil extraction plants, and construction sites are major places that stringently follow the regulation for high visibility clothing.

In terms of product type, the demand for safety vests and jackets is significantly high in the market. Stringent regulations have significantly propelled the market for high visibility clothing. Jackets and t-shirt segment is estimated to be the most prominent segment of the market, owing to their rising demand for usage in other activities such as cyclotron, and night runs. In terms of end use, construction and industrial manufacturing have been the most prominent segments, owing to high expenditure of countries on infrastructure development and maintenance. The usage of high visibility clothing is significantly high in the mining sector; however, sluggish growth of employment in the sector is hindering the market for high visibility clothing.

Unlike in clothing line-up, the offline distribution channel is a major market shareholder. Since most products are directly consumed by industries, manufacturers directly supply their products through their retailers and distributors. In the offline segment, retailers and distributors are the key distribution segment for the market.

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In terms of category, type O is the leading segment of the global high visibility clothing market as it meets the requirements for application in most industries and job roles. Moreover, mining workers, chemical, construction, and warehouse workers wear type O visibility clothing, which is driving the demand for type O category.

High Visibility Clothing Market: Prominent Regions

The high visibility clothing market in Asia Pacific to dominate the high visibility clothing market in 2019. Increasing demand from end user segments coupled with easy government rules and regulations for establishment of small & medium manufacturing units is expected to boost the market growth. Europe is the second largest market as a result of large number of construction companies.

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Travel and Tourism Market: Verified Value and Volume Forecasts up to 2027

According to a new market report published by Transparency Market Research titled ‘Travel & Tourism Spending Market ((Travel Days – Within 7 Days, 7-15 Days, and More than 15 Days); (Travel Type – Leisure Spending and Business Spending); (Application – Domestic Spending and International Spending)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, the global travel & tourism market is expected to reach US$ 13,556.4 Bn by 2027, expanding at a CAGR of 5.2% from 2019 to 2027. The market is segmented by regions into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.

The travel & tourism market in North America is a mature and organized market and the second largest in the world. According to the UN World Tourism Organization (UNWTO) Report 2018, the number of international tourist arrivals in North America (including Caribbean and Central America) increased from 97.1 million in 1995 to 174.0 million in 2017, holding a market share of 13.0% in 2017 of global international tourist arrivals.

The average annual growth from 2005 till 2017 was 3.7%. The U.S. is the largest travel and tourism market in North America. The U.S. travel & tourism market is the largest and most organized and mature market in North America. As per the UNWTO Report 2018, the number of international tourist arrivals in the U.S. increased from 60,010 in 2010 to 76,941 in 2017, holding a market share of 36.5% in 2017 of international tourist arrivals in the whole of the Americas.

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The travel & tourism market in Europe is the third largest in the world and is also a mature and organized market. As per the UNWTO Report 2018, the number of international tourist arrivals in Europe increased from 308.5 million in 1995 to 671.7 million in 2017, holding a market share of 51.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 3.3%. In the Europe travel & tourism market, Germany, the U.K., and France are the top three travel and tourism markets. Germany is the largest travel and tourism market in Europe, followed by the U.K. and France.

Asia Pacific is the largest travel & tourism market in the world and is a growing market. As per the UNWTO Report 2018, the number of international tourist arrivals in Asia Pacific has increased from 82.0 million in 1995 to 323.1 million in 2017, holding a market share of 24.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 6.4%. In the Asia Pacific travel & tourism market, China, Japan, and India are the top three travel and tourism markets. China is the largest travel and tourism market in Asia Pacific followed by Japan and India.

Middle East & Africa (MEA) is a growing travel & tourism market. As per the UNWTO Report 2018, the number of international tourist arrivals in MEA has increased from 31.4 million in 1995 to 120.8 million in 2017, holding a market share of 9.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 4.9%.In the MEA travel & tourism market, GCC and South Africa are the top two travel and tourism markets.

The South America travel & tourism market is a growing market. As per the UNWTO Report 2018, the number of international tourist arrivals in South America increased from 11.7 million in 1995 to 36.7 million in 2017, holding a market share of 3.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 6.0%. Brazil is the largest travel and tourism market in South America.

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The study provides a conclusive view of the global travel & tourism market by segmenting it in terms of travel days, travel type, and application. In terms of travel days, the global travel & tourism market has been classified into within 7 days, 7-15 days, and more than 15 days. In terms of travel type, the market has been segmented into leisure spending and business spending. In terms of application, the market is segmented into domestic spending and international spending.

The report highlights major companies operating in the global travel & tourism market including TUI Group, Hilton Worldwide Holdings Inc., Carnival Corporation & plc, Airbnb, Inc., Crown Resorts Ltd., Accor plc, Balkan Holidays Ltd., G Adventures, Adris Grupa d.d., and OYO Rooms.

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Magneto Resistive RAM Market: Top Challenges to Face in 2020-2027

The overarching need for data storage across multiple industries has played an integral role in the growth of the global magneto resistive RAM market. The advent of big data, and other similar technologies, has necessitates the presence of high-end hardware technologies for data storage. Random access memory (RAM) of different forms and configuration is used across multiple platforms. The supremacy of magneto resistive RAM over other types of storage platforms is a key consideration while gauging market growth.

Several scientists assert that the utility of magneto resistive RAM has largely been underestimated. As the technology gains recognition, it is projected to supplant the popularity of all other modes of data storage in the years to come. Furthermore, proponents of this technology also argue that magneto resistive RAM could become a universal memory storage platform in the years to come. Henceforth, it is safe to believe that the corresponding market would gather fresh revenues in the years to follow

The supremacy of magneto resistive RAM over electrical RAM has transcended as a key driver of demand within the global market. Furthermore, the non-volatile nature of magneto resistive RAM has also given a thrust to market demand. The fading popularity of electrical memory, and the need for large-scale integrated circuits for memory storage, has brought magneto resistive RAM under the spotlight of attention.

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Research (TMR) predicts that the global magneto resistive RAM market would expand at a commendable CAGR of 43.0% over the forecast period between 2019 and 2027. Furthermore, the total value of the magneto resistive RAM market is expected to touch a value of US$2819.3 Mn by 2027. Low-power consumption requirements for magneto resistive RAM, as against electrical RAM, has driven market demand

Application of Magneto Resistive RAM in Multiple Industries

The demand within the global magneto resistive RAM market is rising at the back of advancements in the consumer electronics industry. Several popular electronic devices, including laptops and smart phones, could be using magnetic-field-based memory. Furthermore, the need to eliminate the cons of excessive electricity consumption has also compelled manufacturers to replace electrical RAM with magneto resistive RAM.

The growth of robotic and automation technologies has created increased demand for data storage. Furthermore, multiple industries have expressed the need for securing their data across resilient platforms and storage devices. This factor has also emerged as a key driver of demand within the global magneto resistive RAM market in recent times. As new industries become driven towards use of data analytics, the market shall experience sparks of growth in the years to come.

Aerospace and Defense Sector as a Prominent End User

The use of magneto resistive RAM in the defense and aerospace industry has become a key prospect for market growth. The expansive size of this industry has created lucrative opportunities for market vendors. Moreover, enterprise storage is another area that necessitates the use of workable data storage platforms. Hence, the global magneto resistive RAM is projected to become a worthy domain for investment.

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The leading players in the global magneto resistive RAM market are aiming at collaborating with electronic manufacturers. Furthermore, these vendors are slated to foster innovation via investments in research and development. Some of the prominent players operating in this market are Hewlett-Packard Enterprise, Everspin Technologies Inc. Avalanche Technology Inc., Spin Transfer Technologies, and Honeywell International Inc.

The review is based on TMR’s report titled, “Magneto Resistive RAM (MRAM) Market (Product Type – Toggle MRAM and Second Generation MRAM (STT-MRAM); Application – Consumer Electronics, Robotics, Automotive, Enterprise Storage, and Aerospace and Defense) – Global Industry Analysis, Trend, Size, Share, and Forecast 2019 – 2027.”

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Thermoelectric Module Market: Top Trends to Look for in 2020-2027

According to a new market research report titled ‘Thermoelectric Module Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019–2027,’ published by Transparency Market Research, the global thermoelectric module market is expected to reach value of US$ 1,713.9 Mn by 2027, expanding at a CAGR of 11.7% from 2019 to 2027. According to the report, the global market is expected to be influenced by a range of macroeconomic factors, such as GDP and market trends, during the forecast period. In terms of demand, Asia Pacific is projected to lead the global market in the next few years. The market in the region is likely to expand at a CAGR of 12.1% during the forecast period.

Advantages offered by thermoelectric modules over conventional products to drive the global thermoelectric module market

The global thermoelectric module market is projected to expand at a significant growth rate during the forecast period, owing to advantages offered by thermoelectric modules over conventional products across the world. Large thermoelectric systems have been built for special applications such as railroad cars, cooling within submarines, and semiconductor manufacturing. Presently, thermoelectric systems with high power are being preferred in the market. Thermoelectric systems with their capacity ranging from 200 Watt to 400 Watt are being commonly used in various sectors such as automotive and industrial.

Global Thermoelectric Module Market: Scope of Report

The global thermoelectric module market has been broadly segmented based on technology, material, type, application, end-use industry, and region. In terms of technology, the market has been segmented into single stage and multi stage. Among these, the single stage segment holds a significant share of the market and it is anticipated to expand at a CAGR of 11.4% during the forecast period.

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Based on material, the market has been classified into bismuth telluride (Bi2Te3), lead telluride (PbTe), silicon germanium (SiGe), and others. Among these, the bismuth telluride segment held a prominent i.e. 39.9% share of the global thermoelectric module market in 2018. It was followed by the lead telluride segment. In terms of type, the global thermoelectric module market has been divided into bulk (standard) TEM, micro TEM, and thin-film TEM. Among these, the bulk (standard) TEM segment held a significant share of the global market in 2018. It is expected to expand at a CAGR of 11.5% during the forecast period. In terms of application, the market has been categorized into analytical instrumentation, automotive electronics & safety systems, refrigeration & cryogenics, thermal cycling, detectors, and others.

The refrigeration & cryogenics segment held a major share of the global market in 2018. It is anticipated to expand at a CAGR of 11.2% during the forecast period. Based on end-use industry, the market has been segmented into aerospace & defense, automotive, consumer electronics, healthcare, food & beverages, energy & utility, and others. Among these, the consumer electronics segment held a significant i.e. 33.5% share of the global market in 2018. In terms of region, the global thermoelectric module market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

In terms of revenue, Asia Pacific held a leading share of the global thermoelectric module market in 2018. The market in the region is anticipated to expand at a CAGR of 12.1% during the forecast period. Use of advanced thermoelectric materials for the manufacture of thermoelectric modules has led to rise in the adoption of thermoelectric modules in the region. In terms of revenue, China holds a major share of the thermoelectric module market in Asia Pacific, followed by Japan. Moreover, in terms of revenue, the market in India is anticipated to expand at a significant CAGR of 12.7% between 2019 and 2027.

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Global Thermoelectric Module Market: Competition Scenario

The research study includes profiles of leading companies operating in the global thermoelectric module market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Some of the key players operating in the global market are Crystal Ltd., Ferrotec Corporation, GENTHERM, II-VI Marlow Incorporated, KELK Ltd., KRYOTHERM, Laird Technologies, RMT Ltd., TE Technology, Inc., TEC Microsystems GmbH, Thermion Company, Thermonamic Electronics (Jiangxi) Corp. Ltd., and TOSHIBA MATERIALS CO., LTD.

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