In 2018, the global child resistant closures market was valued at US$ 1.60 Bn and expected to grow with a CAGR of 6.7% during the forecast period from 2019 to 2027. Child resistant closure market is growing due to worldwide increase in accidental drug intoxication cases among children below 5 years of age. To decrease these accidental cases government is taking initiatives to apply rules for child resistant packaging.
Globally, the check engine light market is projected to grow with a CAGR of 5.5% during the forecast period from 2019 to 2027. The check engine light in a vehicle is set up to warn the drivers about the problems or issues with the engine of the vehicle. Check engine light is a computerized system, which keeps a track of the engine and notify about any malfunctions caused to the engine. It is considered a diagnostic tool that increasingly help in maintaining the performance of the vehicle, engine speed, and ignition time.
With the growing urbanization and industrialization across the globe, there are many environmental challenges pop-up in the world. With the stringent environmental laws for treating industrial wastewater, there is a high demand for charcoal. Also, a new trend of barbecued food created ample opportunities for charcoal manufacturers in the recent past. Moreover, to minimize the carbon dioxide emission while producing silicon, industries are opting for charcoal instead of coal as earlier. This has provided a good opportunity for the market to grow in 2018.
Globally, the centralized workstation market is estimated to grow with a CAGR of 8.8% through the forecast period from 2019 to 2027, from US$ 10.50 Bn in 2018. The growth of the centralized workstation market is driven by the rising need among organizations to reduce the cost of operation and gain operational efficiency. As the competition across the market players is increasing and the profit margins are reducing, the companies are looking for more advanced ways and business models to reduce the operational cost and gain business agility.
The global central fill pharmacy automation market is developing competently, expected to grow at a CAGR of 10.1%. Globally, increasing penetration of pharmacy automation products, advancement in robotics & tabletop devices, and growth in overall software & services for enhanced distribution of pharmaceutical drugs will drive the overall market growth. Rising awareness about central fill automation technology along with the launch of integrated software solutions are key factors driving the growth of the central fill pharmacy automation market on a global scale.
The cell expansion market is set to reach from US$ 9,743.7 Mn in 2018 to US$ 33,443.2 Mn by 2027 at a compound annual growth rate (CAGR) of 15.0% during the forecast period from 2019 to 2027. Lack of effective treatment regime for the chronic disease has resulted in significant rise in novel drug discovery and development research studies throughout the globe. Increasing demand for regenerative medicine and stem cell therapy further consolidates the cell expansion market growth.
The CBD oil market is expected to grow at a CAGR of 32.5% during the forecast period from 2019 to 2027, starting from US$ 534.4 Mn in 2018. CBD oil-based products are gaining its popularity and consumers nowadays are becoming more inclined towards using CBD oil-based products for treating a number of health problems such as insomnia, chronic pain, anxiety, among others. The younger generation is more interested in trying new and buzzy trends and CBD beauty is one of those trend.
The rising demand from the oil & gas industry to lower the losses incurred due to corrosion is driving the global cathodic protection market. Cathodic protection is a technique to control the corrosion of a metal surface by making it a cathode of an electrochemical cell. Corrosion can destroy the integrity of infrastructure and regular patching of the damaged area may be simple but is found to be less effective in the long run. Eventual repairing of the infrastructure may add-up to the cost of repairing. Further, cyclical repairs weaken the structure and may lead to a total replacement of infrastructure. Thereby, adding the burden of replacement and increase in repair time which results in loss of revenue to the companies.
The cartoning machines market worldwide is expected to grow with a CAGR of 5.90% during the forecast period from 2019 to 2027, starting from US$ 4.67 Bn in 2018. Cartoning machines market is expected to witness high growth in the near future due to rise in food & beverages, healthcare and overall packaging industry worldwide. Cartons make products easier to stack, stored & presented and cartons are recyclable which makes them environment friendly. Rising packaged food market, increase in healthcare sector and rapid increase in e-commerce market are the major growth drivers for cartoning machines market.
The global cardiopulmonary stress testing systems market is growing efficiently, expected to grow at a CAGR of 4.8%. Globally, growing diagnostic procedures for cardiovascular-related disorders such as heart valve imbalance and arrhythmia will drive market growth. Increasing awareness about new lifestyle diseases along with heart and lung disorders are factors driving the overall growth of cardiopulmonary stress testing systems market globally. Other major factors include development in the portable device industry, invention of high sensitivity ECG devices, growth in the cardiovascular centers for enhanced diagnostics and new technology expansion in the emerging nations at low cost.
The global cardiac biomarker diagnostic kits market is growing competently, expected to grow at a CAGR of 5.3%. Globally, the rising prevalence of chronic diseases, cardiac disorders along with numerous lifestyle diseases will drive the market growth globally. Major factors such as growing elderly population, increasing hospital admissions for cardiovascular diseases and enhanced product penetration in the developing nations are driving the global market. Present clinical trials for identification of innovative cardiac biomarkers, public and private funding for improved R&D is also increasing the market growth on a global scale.
The capacitors for medical electronics market worldwide is estimated to grow with a CAGR of 6.9% through the forecast period starting from 2019 to 2027. Medical electronics market worldwide is observing continued growth over the past few years with more than 3.8% growth rate every year.
The global candles market accounted for US$ 8,426.31 Mn in 2018 and is anticipated to grow to US$ 13,031.03 Mn growing at a CAGR of 5.5% throughout the forecast period from 2019 to 2027. Consumers are increasingly purchasing candles for their home decor, and for aromatherapy-like stress reduction and relaxation. The ease of purchase, as well as the availability of various type of candles on multiple distribution channels, is prompting more and more people to purchase these products.
The global caffeine market was valued at US$ 231.1 Mn in the year 2018 and expected to reach US$ 349.2 Mn by year 2027, expanding at a CAGR of 4.7% during the forecast from 2019 to 2027. Caffeine is the most popular psychoactive drug that stimulates the Central Nervous System (CNS). It is naturally found in cocoa beans, tea leaves, kola nuts, and coffee beans. Some other sources of naturally occurring caffeine include guarana berries, yerba mate, yaupon holly, and guayusa.
The cable protection tubes market worldwide is expected to grow with a CAGR of 6.30% during the forecast period from 2019 to 2027. Cable protection tube is used to protect and align the overall cabling/wiring in a building or other structures. The market is primarily dependent upon the construction industry worldwide and related spending on cable management products. In 2018, construction industry contributed to more than 13% of the world GDP. Subsequently, the demand for cable management products (such cable protection tubes) is expected to remain strong in years to come.
Globally, the Busbar market is expected to grow with a CAGR of 7.0% during the forecast period from 2019 to 2027, starting from 2018 with a market value of US$ 18.50 Bn. Busbar are metallic strips which are made of copper, aluminum or brass, these strips can either conduct or ground the electricity. The busbar makes the complex power distribution flexible, easier and less expensive as compare to the traditional way. The increasing demand of electricity in industrial and urban areas are driving the busbar market due to their capability to distribute the electricity efficiently and saves cost for the distribution.
Globally, the bridge expansion joints market is expected to grow with a CAGR of more than 5.9% during the forecast period from 2019 to 2027, starting from US$856.5 Mn in 2018. Bridge expansion joints are also called as movement joint that allows the bridges to contract and expand with respect to the environmental conditions such as changing temperature. Globally, there is rapid development in the construction industry. This is primarily driving the demand for bridge expansion joints.
Globally, the brain machine interfaces market is expected to grow with a CAGR of more than 10.1% during the forecast period from 2019 to 2027, starting from US$ 1.05 Bn in 2018. Factors attributed to the growth of brain machine interfaces market includes increasing penetration of advanced technologies in the field of neuroscience, growing incidences and prevalence of brain disorders affecting the movements of body, increasing government funding for research and development of brain machine interface technologies, miniaturization of components, and increasing number of gaming industries implementing brain machine interface technologies.
The bottled water hydration market is expected to grow at a CAGR of 7.3% during the forecast period from 2019 to 2027, starting from US$ 161.04 Bn in 2018. The demand for bottled water is rising to a great extent throughout the globe. As per the International Bottled Water Association (IBWA), most of the consumers in the U.S. prefer bottled water over other packaged drinks. The reports also suggest that in the year 2018 the consumption of bottled water in the North America region accounts for around 13.8 billion bottled water hydration market gallons.
The bone sonometer market is set to reach from US$ 890.2 Mn in 2018 to US$ 1,428.9 Mn by 2027 expanding at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2019 to 2027. As per the latest research findings brought forward by the International Osteoporosis Foundation (IOF) in 2017, approximately 8.9 million fractures associated with osteoporosis were recorded throughout the globe. Looming threat of malnutrition and significant rise in geriatric population will propel the bone sonometer market growth in the near future.