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Leukapheresis Market to Reach $136.3 Million by 2030: Key Growth Drivers

Leukapheresis Market

In 2024, the global leukapheresis market generated USD 79.9 million in revenue, and it is anticipated to grow at a 9.3% Compound Annual Growth Rate (CAGR) from 2024 to 2030, ultimately reaching USD 136.3 million by 2030.

This market expansion is driven by several factors, including the increasing prevalence of leukemia and other blood-related disorders, rising government initiatives promoting cancer awareness, a growing global volume of blood donations, rapid advancements in technology, and heightened research on leukoplakias for use in clinical studies.

Leukapheresis is a medical procedure used to treat chronic lymphocytic leukemia and other blood cancers. The rising number of leukemia patients, largely due to sedentary lifestyles, smoking, and exposure to radiation and harmful chemicals, is contributing to the market’s growth. Additional risk factors include infections from HIV, Epstein–Barr virus, and human T-cell leukemia/lymphoma virus.

Governments worldwide are implementing various initiatives to combat leukemia, starting with increasing awareness about the disease. In addition, several governments have introduced reimbursement policies and established specialized cancer hospitals and oncology centers.

Another significant factor driving the leukapheresis market is the growing number of blood donors globally. Blood components such as platelets and red blood cells (RBCs) can be replaced through transfusions using donor blood.

Leukemia patients often undergo chemotherapy, which can temporarily damage their immune systems and blood cells. As a result, leukapheresis serves as a crucial supplementary treatment, as donated blood provides healthy white blood cells (WBCs) and RBCs to cancer patients. The growing number of blood donations worldwide is simplifying this process.

The market is segmented into disposables and devices based on product type, with disposables dominating the market in recent years. This trend is expected to continue, as the increasing prevalence of leukemia drives the demand for leukapheresis disposables. Proper use of disposables also helps reduce the risk of infections during blood transfusions.

North America held the largest market share in recent years, accounting for approximately 50% of the global leukapheresis market. The region is expected to maintain its dominance, driven by significant research and development (R&D) activities in the biotechnology and pharmaceutical sectors. Additionally, the presence of numerous market players, healthcare professionals, and ongoing CAR T-cell therapy clinical trials further strengthens North America’s position. The region’s susceptibility to infectious and pandemic diseases also contributes to its market growth.

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The Rapid Growth of the Clear Aligners Market: Aesthetic Demand and Technological Innovation

Orthodontic treatment has evolved significantly from traditional metal braces with the advent of clear aligners, revolutionizing the market. Clear aligners have gained widespread popularity due to their discreet appearance and ability to effectively straighten teeth without the noticeable impact of conventional braces. In recent years, the clear aligners market has experienced substantial growth, driven by technological advancements, rising consumer demand for aesthetic solutions, and the convenience offered by innovative orthodontic devices.

In 2024, the clear aligners market was valued at USD 9.8 billion, and it is projected to grow at a compound annual growth rate (CAGR) of 24.5%, reaching USD 36.6 billion by 2030.

Technological Advancements

The success of the clear aligners industry can largely be attributed to continuous technological advancements. The introduction of 3D printing technology has revolutionized the manufacturing process, enabling the production of highly customized aligners tailored to each patient’s unique dental structure. This level of personalization not only improves treatment effectiveness but also ensures a more comfortable and precise fit, reducing overall treatment time.

Rising Demand for Aesthetic Solutions

A significant factor driving the clear aligners market is the growing demand for aesthetically pleasing orthodontic options. Unlike traditional braces, clear aligners are virtually invisible, making them an appealing choice for those seeking discreet teeth straightening. This aesthetic appeal has expanded the market beyond teenagers, attracting a wider demographic, including adults who were previously reluctant to pursue orthodontic treatment.

Convenience and Comfort

Clear aligners offer a level of convenience and comfort that traditional braces cannot match. Patients can remove the aligners for eating and maintaining oral hygiene, eliminating the dietary restrictions associated with braces. The absence of wires and brackets also means fewer visits to the orthodontist for adjustments, reducing the overall burden on both patients and the healthcare system.

Market Dynamics

The clear aligners market is experiencing strong growth, with key players leading the industry. Companies like Align Technology, known for the Invisalign brand, have played a crucial role in shaping the market landscape. The increasing number of partnerships, collaborations, and acquisitions within the industry indicates a competitive yet collaborative environment focused on driving innovation and expanding market reach.

Challenges and Opportunities

Despite the clear aligners market’s impressive success, it faces challenges. Affordability remains a concern for some potential patients, as clear aligners can be more expensive than traditional braces. However, ongoing research and development efforts aim to make this innovative orthodontic solution more accessible.

As the market continues to expand, there are opportunities for further innovation and diversification. These include expanding into new geographic regions, developing specialized aligners for specific dental issues, and integrating emerging technologies.

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The Growing Importance of Ultrasound Probe Covers in Modern Healthcare

Ultrasound Probe Covers Market

In the rapidly evolving landscape of healthcare, the importance of ultrasound probe covers is becoming increasingly significant. These covers are essential not only in ultrasound procedures but also in a wide range of medical practices, offering numerous benefits to both healthcare professionals and patients. They play a crucial role in maintaining hygiene, enforcing infection control measures, ensuring accurate diagnoses, enhancing patient comfort and safety, and supporting various medical procedures.

The Benefits of Ultrasound Probe Covers

Infection Control and Hygiene Maintenance
Ultrasound probe covers serve as protective barriers placed over medical equipment to prevent cross-contamination between patients. Their primary purpose is to ensure infection control and uphold hygiene standards. In an environment where various infectious diseases are prevalent, the need for stringent infection control measures cannot be overstated. By utilizing ultrasound probe covers, healthcare professionals can significantly reduce the risk of infection transmission and enhance patient safety.

Accurate Diagnoses and Treatment Planning
Ultrasound technology has transformed the medical field by providing non-invasive imaging that aids in precise diagnoses and treatment planning. With ultrasound probes, healthcare professionals can simultaneously visualize internal organs and blood flow. This capability allows for early detection of abnormalities, accurate targeting of interventions, and ongoing treatment monitoring. Ultrasound probe covers are integral to this process, maintaining the integrity and cleanliness of the ultrasound probe to ensure reliable and accurate imaging results.

Enhanced Patient Comfort and Safety
In addition to promoting a sterile environment, ultrasound probe covers contribute to patient comfort and safety during medical procedures. Made from soft, hypoallergenic materials, these covers provide a comfortable experience for patients. They also act as lubricants, reducing friction between the probe and the patient’s skin, thereby minimizing discomfort and the risk of skin irritation. Furthermore, the use of probe covers can prevent allergic reactions in patients with latex sensitivities, underscoring the importance of selecting appropriate cover options.

Versatility and Broader Application
The use of probe covers extends beyond ultrasound procedures, finding application in a variety of other medical practices, including vaginal examinations, endocavity inspections, and rectal examinations. By employing probe covers, healthcare professionals can ensure the highest standards of hygiene and patient safety across a range of medical procedures.

Hygiene and Precision in Focus
It is important to note that probe covers should not be substituted with gloves. While gloves offer basic protection, they are not specifically designed to prevent cross-contamination or ensure accurate diagnoses. Probe covers serve as essential barriers that reduce the risk of infection and maintain a sterile environment, thereby enhancing patient safety. By using ultrasound probe covers, healthcare professionals can adhere to strict infection control measures, improve the accuracy of diagnostic imaging, and deliver a higher standard of care. Avoiding the replacement of probe covers with gloves is crucial for preserving hygiene and precision in medical settings.

Conclusion

The growing awareness among healthcare providers about infection control has driven the demand for ultrasound probe covers to new heights. The global market for these covers is expected to reach USD 358.9 million by the end of this decade, reflecting their indispensable role in modern healthcare.

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Outsourcing Trends Propel Bioanalytical Testing Market to USD 9.6 Billion by 2030

In 2024, the global bioanalytical testing services market generated a revenue of USD 3,985.9 million. The market is projected to experience a significant compound annual growth rate (CAGR) of 15.9% from 2024 to 2030, with expectations to reach USD 9,652.6 million by 2030.

This growth is driven by the strong life sciences sector’s reliance on bioanalytical testing, the presence of key service providers, the increasing number of ongoing clinical trials, substantial research and development investments, and the expanding biosimilar and generic drug industries. Additionally, the rise in biopharmaceutical and pharmaceutical companies outsourcing preclinical, clinical, and laboratory testing services is further fueling industry expansion.

Many biopharmaceutical companies are opting to outsource bioanalytical testing instead of conducting in-house testing for drug development and validation of various assays at both preclinical and clinical stages. This trend is primarily due to the companies’ focus on optimizing the drug development process by concentrating on their core competencies, enabling faster and more cost-effective market entry with new products.

In 2023, the small molecule segment led the market with a commanding 50% share, and it is expected to maintain its dominance in the coming years. This is largely due to the traditional role of small molecules as pharmaceuticals, with a molecular weight under 900 Daltons, allowing them to effectively influence biological processes.

Furthermore, numerous outsourcing firms are offering comprehensive studies on small molecules, including pharmacokinetic evaluations, pharmacodynamic studies, and biomarker assays.

By test type, the bioavailability segment generated the largest revenue share in 2023, accounting for 40%, and is projected to continue leading during the forecast period. This can be attributed to the high demand for these services in the development of generic molecules.

Moreover, companies are increasingly focusing on developing the most effective therapeutic drugs with optimized drug moiety. The rising consumer awareness regarding self-care is also boosting the demand for pharmaceutical drugs, which in turn is significantly driving the need for bioavailability testing.

In 2023, North America led the bioanalytical testing services market, capturing approximately 45% of the total share, and is expected to see robust growth with a strong CAGR in the coming years. This dominance is mainly due to the high prevalence of chronic diseases, increased adoption of large molecule therapeutics and peptides, significant growth in the pharmaceutical and biotechnological sectors, and the presence of major bioanalytical service providers in the region.

The U.S. is at the forefront of the North American market, benefiting from advanced healthcare infrastructure, a large number of pharmaceutical manufacturing facilities, and leading contract research organizations and bioanalytical testing service providers in the country.

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Medical Billing Outsourcing Market Doubles by 2030 as Digital Healthcare Grows

Medical Billing Outsourcing Market

In 2024, the medical billing outsourcing industry size stood at USD 15.6 billion, and it is projected to advance at a CAGR of 12.3% over the projection period, to attain USD 31.4 billion by the end of 2030.

The growth can be credited to the growing utilization of IT resources in the medical business, the increasing funding and also schemes from governments, and the increasing use of medical billing outsourcing services by hospitals, doctors, and other healthcare services, credited to their advantages.

The market for medical billing outsourcing is growing due to several key factors. There’s a rise in medical prescriptions globally, driven by increasing incidences of chronic and infectious diseases and higher hospital admissions. The COVID-19 pandemic further accelerated this trend, boosting demand for medical billing outsourcing as hospitalization rates surged. This heightened the need for robust, scalable, and collaborative digital healthcare infrastructure.

Digitalization and outsourcing have led to increased demand for advanced software technology for medical billing and patient database management. There’s also a growing adoption of electronic health records for patient care and billing purposes.

Rapidly rising demand for telemedicine or telehealth is among several trends seen in the outsourcing of medical billing. Most of the common health care services like consultation, diagnosis, discussion of health issues, treatment, and follow-up can be delivered at a distance with the help of telecommunication equipment like audio/video communicators.

Key Insights

  • Front-end services hold a substantial industry share because of their role in preregistration, registration, scheduling, insurance verification, eligibility checks, and pre-authorization, improving efficiency and patient satisfaction.
  • Middle-end services is projected to advance significantly with new entrants and augmented awareness among healthcare practitioners.
  • Out-patient bills are estimated to advance at a CAGR of 12.6%, propelled by minor injuries, outpatient operations, and improvements in medical technology.
  • The large hospital category leads the market with a 50% share in 2030, credited to their acceptance of electronic health records (EHRs) and the requirement for error-free billing processes.
  • The hospital category dominates the industry in terms of end users, propelled by the growing load of patient records management and increasing reimbursement complexities.
  • Physician offices are expected to proliferate, driven by increased healthcare spending, regulatory compliance needs, and cost reduction efforts through outsourcing.
  • North America leads the global market with a 55% revenue share in 2023, driven by technological advancements, R&D investments, and the presence of major industry players focused on customer satisfaction and service quality.
  • The adoption of medical billing outsourcing is increasing among healthcare providers due to the complexity introduced by the International Classification of Diseases-10th revision (ICD-11), driving demand for robust revenue cycle management (RCM) solutions integrated with electronic medical records (EMRs).
  • Physician offices are focusing on outsourcing to manage healthcare billing errors and operational costs, with approximately 15% of physician earnings spent on billing errors and 25% of revenue allocated to billing processes.
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North America Leads Accelerometer Medical Sensors Market Surge

In 2024, the accelerometer medical sensors market was valued at USD 4,670.9 million and is expected to expand at a compound annual growth rate (CAGR) of 14.4%, reaching USD 10,442.9 million by the end of the decade. This growth is largely attributed to the growing demand for continuous health monitoring, the miniaturization of physiological sensors, their enhanced functionalities, user-friendliness, and cost-effectiveness, as well as an increasing population with higher disposable income who are willing to invest in advanced technologies.

The global aging population has significantly increased in recent years. According to the WHO, the percentage of individuals aged over 60 is expected to rise from 12% in 2015 to 22% by 2050. Additionally, it is projected that by 2050, 80% of elderly individuals will reside in low- and middle-income countries.

Older adults are particularly susceptible to chronic conditions due to factors like poor sleep quality, decreased bone strength, and lactose intolerance. The prevalence of these chronic illnesses among the elderly drives the demand for accelerometer medical sensors.

As people age, their susceptibility to diseases increases due to a weakening immune system, reduced physical activity, poor nutrition, and lactose intolerance. The risk of heart issues also rises with age due to long-term fatty acid buildup in arterial walls.

Download free sample copy of this report: https://www.psmarketresearch.com/market-analysis/accelerometer-medical-sensors-market-report/report-sample

Key Insights:

  • Wearable Devices: Wearable sensors hold a significant market share due to their ability to measure vital health parameters such as CO2 levels, blood pressure, and heart rate.
  • Versatility: Wearable sensors can be integrated into various everyday items like shoes, clothing, wristbands, and headbands.
  • Health Monitoring: These sensors track metrics including heart rate, pulse, blood pressure, oxygen levels, sleep quality, and calorie intake.
  • Clinical Use: Accelerometer sensors are valuable in clinical trials and for patient safety, providing data on body responses, reducing study durations, and monitoring sleep and emotional states.
  • Smart Devices: They are used in smart devices like activity trackers and fitness bands to analyze health data.
  • Health Informatics: Wearable sensors support health informatics by delivering accurate data and enabling real-time remote patient monitoring.
  • Chronic Disease Monitoring: The demand for accelerometer sensors is driven by the rising prevalence of cardiovascular diseases and cancer.
  • Key Drivers: Factors such as cardiovascular diseases, obesity, smoking, and poor diet are increasing the need for these sensors.
  • Wellness Monitoring: The wellness segment is anticipated to grow rapidly as digital health tracking and data interpretation advance.
  • Hospitals & Clinics: Major users include hospitals and clinics, which benefit from advanced technology, large patient bases, and skilled healthcare professionals.
  • Market Growth: Increased healthcare spending and surgical treatments for chronic diseases are fueling market expansion in hospitals.
  • Regional Insights: North America leads the accelerometer medical sensors market, with projections reaching USD 1.8 billion by 2030. The U.S. market is expected to grow at a CAGR of 14.5%, driven by the prevalence of cardiovascular diseases, skilled professionals, and a substantial population with chronic conditions.
  • Innovation: Regulatory approvals and new product launches by companies like Analog Devices Inc. and STMicroelectronics are further propelling market growth.
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Medical X-Ray Film Processor Industry Growth, Development and Forecast Report, 2030

The medical X-ray film processor market, valued at USD 1,024.7 million in 2024, is expected to grow to USD 1,238.5 million by 2030, with a compound annual growth rate of 3.2%.

This growth is driven by the increasing prevalence of cancer, dental issues, cardiac conditions, and orthopedic ailments such as arthritis, alongside the rising number of X-ray imaging procedures, growing healthcare expenditures, and heightened awareness of early diagnosis.

In 2021, around 1.2 million heart surgeries were performed globally. Similarly, approximately 850,000 knee replacements are conducted annually in the U.S., reflecting the growing need for X-ray systems for accurate diagnosis due to the increasing incidence of cardiovascular and orthopedic diseases worldwide.

X-ray imaging has significantly improved the early diagnosis and treatment of various conditions, including tumors, bone injuries, pneumonia, and dental problems. This has led to widespread adoption of X-ray imaging systems and, consequently, X-ray films and film processors. As the incidence of these and other ailments rises, the demand for X-ray imaging for diagnosis continues to grow.

In 2023, the fully automatic film processor segment held the largest market share, at 60%, due to its high image quality. The orthopedic segment dominated the market based on application, attributed to the extensive use of X-rays in diagnosing and examining joint or bone conditions such as dislocation, arthritis, and fractures.

The diagnostic centers segment is projected to experience the fastest CAGR in the coming years, driven by the increasing number of diagnostic centers, their accessibility, and their cost-effectiveness compared to full-fledged hospitals.

North America was the largest contributor to the market, with the increasing prevalence of chronic diseases and the growing elderly population boosting the demand for X-ray imaging procedures. The presence of key players, availability of advanced products, and growing awareness of early disease diagnosis are also supporting regional market growth.

The Asia-Pacific region is expected to grow at the fastest rate in the coming years due to rising R&D activities, government initiatives promoting effective and early diagnosis and treatment, improved healthcare infrastructure, increasing demand for advanced medical imaging devices, and a large patient pool.

The rising prevalence of cancer will continue to drive the growth of the medical X-ray film processor market in the future.

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Increasing Chronic Pain and Smoking Rates Propel Transdermal Drug Delivery Market Growth

The total value of the transdermal drug delivery systems market was USD 4.2 billion in 2023. It is expected to grow at a CAGR of 4.7%, reaching USD 5.8 billion by 2030. This market is primarily driven by the increasing prevalence of chronic illnesses, as traditional drug delivery systems are less effective due to hepatic first-pass metabolism. This process results in oral drugs being mostly broken down in the liver before they can reach their target tissues, reducing their efficacy.

Globally, more than one billion people smoke cigarettes, and despite international and national efforts to monitor, educate, and restrict supply, smoking rates remain high. This drives the demand for transdermal nicotine patches, which have been shown to be 50–60% more effective than placebos in helping individuals quit smoking over a year.

The iontophoresis technology segment leads the market, as it enhances skin penetration and accelerates the release rate of drugs with poor absorption or infusion. The pain management segment is also a major market driver, due to the increasing prevalence of chronic pain from conditions such as amputations, arthritis, and nervous system disorders. An estimated 20% of the global adult population suffers from chronic pain, which significantly impacts productivity and causes emotional and psychological distress. Consequently, transdermal analgesia is gaining popularity.

North America dominates the transdermal drug delivery systems market, driven by patent expirations that allow more companies to enter the market with generic alternatives. Additionally, the relaunch of previously failed drugs for subcutaneous delivery and substantial R&D investments contribute to the region’s significant market share. In Europe, the market is supported by favorable insurance policies and awareness campaigns by government institutions. The region’s advanced healthcare infrastructure and strong public health focus, along with numerous medical device and R&D institutes, facilitate the rapid adoption of innovative healthcare technologies.

The global demand for transdermal drug delivery systems is rising due to the increasing incidence of chronic illnesses, a trend that is expected to continue in the coming years.

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Genome Editing Industry Size and Forecast Report, 2030

Genome Editing Market

According to P&S Intelligence, the genome editing market is witnessing growth and is projected to reach USD 20,397.8 million by 2030. This is mainly because of the result of the rising pace of technical improvements in the field of genomics, increasing concentration on the extremely adaptable CRISPR technology, and growing expenditure by government and also private establishments in genomics research and development. Moreover, the rising occurrence of many genetic illnesses is projected to drive the industry.

There is an enormous range of prospects in genomics, like agribusiness, drug research, forensics, veterinary sciences, and the identification of human genetic irregularities, that are attaining robust concentration from government and also private biotech agencies. NGS has significantly enhanced genomics’ role in forensics.

Illumina provides various products for studying genetic variations and function. While traditional fingerprint profiling focuses on DNA analysis, the current use of NGS involves analyzing suspect specimens at crime scenes. This enables law enforcement to extract maximum information even from small or damaged DNA samples.

This development can be mainly credited to the rising utilization of cell line engineering in stem cell-based research. Because of the fast improvements, cell line engineering is being widely used for induced pluripotent stem cells, which aid in changing the hereditary content of the cells. The appearance of enhanced gene editing methods, like TALENs, zinc finger nucleases, and CRISPR/Cas, has allowed lucrative and suitable cell engineering.

In recent years, the North American region dominated the market, with a share, of approximately 45%. Furthermore, credited to the growth of gene treatment, increasing use of hereditarily modified harvests, and simple obtainability of research investment, the region will continue the contribute the most significantly to businesses providing tools and facilities for gene editing.

The mounting use of modified drugs is providing huge development opportunities to the companies in the market. With the utilization of a modified drug, a medicinal practitioner is able to identify the exact needs of the patient and offer the exact treatment, accordingly.

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Over-the-Top Services Market Growth Drivers and Forecast Report, 2030

OTT Services Market

Factors such as the rising internet speed, surging penetration of smart devices and the internet, and burgeoning demand for video-on-demand (VoD) services in developing countries are expected to steer the over-the-top services market growth during the forecast period (2021–2030). Currently, the deployment of the 5G network, to offer increased data speed at low cost, is becoming a prominent market trend. Countries such as the U.S., the U.K., Australia, Japan, Taiwan, Germany, and South Korea have already started deploying 5G networks.

The increasing penetration of the internet and smart devices is one of the key growth drivers for the market globally. Customers can access OTT content through smart TVs, internet-connected phones, tablets, laptops, desktops, gaming consoles, and set-top boxes. Moreover, the increasing amount of time being spent on these smart devices, owing to their escalating use for work and entertainment purposes, will augment the demand for OTT services. Additionally, the growing penetration of high-speed internet and advanced network technologies, such as optical fiber, 4G/LTE, and 5G, will facilitate the market growth.

At present, the OTT services market is fragmented in nature due to the presence of numerous players, such as Netflix Inc., Facebook Inc., Roku Inc., Apple Inc., Amazon.com Inc., Rakuten Inc., The Walt Disney Company, Telstra Corporation Ltd., Google LLC (YouTube), and Kakao Corp. Nowadays, these players are introducing OTT platforms and services to gain a competitive edge. For instance, in March 2021, Netflix Inc. started testing mobile+, a new plan in India for INR 299 per month. This plan will enable subscribers to stream content in 720 HD quality on computers and smartphones. However, this plan will not be accessible on TVs or multiple devices simultaneously.

The monetization model of the OTT services market is classified into advertising-based, subscription-based, and transaction-based. Under this segment, the transaction-based model is expected to witness the fastest growth throughout the forecast period as it enables market players to generate revenue by selling the license of a software product that can be utilized by a group of users or a single user. Moreover, the increasing tendency of users to purchase entire content, such as a full-license video game, with all the features will drive the growth of this category.

Furthermore, the streaming device segment of the OTT services market is categorized into smartphones and tablets, laptops and desktops, gaming consoles, and others. Under this segment, the smartphones and tablets category accounted for the largest market share in 2020 due to the rising technological advancements and growing internet penetration. According to the International Telecommunication Union (ITU), there were 4 billion internet users across the world in 2019. Additionally, this number accounted for over 51% of the global population.

Geographically, North America held the largest share in the OTT services market in 2020 due to the burgeoning internet penetration in the region. As per the ITU, nearly 88.49% of the North American population used the internet in 2018. Whereas, the Asia-Pacific (APAC) market is expected to observe the fastest growth during the forecast period as a result of the booming population, expanding smartphone user base, and increasing internet penetration in developing countries, such as China and India.

Thus, the expanding smartphone customer base and rising internet penetration will supplement the market growth.