Sarcopenia Market - Global Industry Analysis

Name: Sarcopenia Market by Supplement Type (Protein Supplement, Vitamin D & Calcium Supplement, and Vitamin B12 Supplement) and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Hypermarket & Supermarket): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024
Brand: Zion Market Research
SKU: ZMR-3631
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Sarcopenia Market by Supplement Type (Protein Supplement, Vitamin D & Calcium Supplement, and Vitamin B12 Supplement) and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Hypermarket & Supermarket): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024

Published Date: 13-Dec-2018 Category: Healthcare Report Format : PDF Pages: 110 Report Code: ZMR-3631 Status : Published

Global sarcopenia market expected to generate revenue of around USD 2,958 million by 2024, growing at a CAGR of around 4.3% between 2018 and 2024. The various factors projected to drive the growth of sarcopenia market over the forecast timeframe are increasing aging and obese population.

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Description

The report covers a forecast and an analysis for the sarcopenia market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the sarcopenia market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the sarcopenia market on a global level.

In order to give the users of this report a comprehensive view of the sarcopenia market, we have included a competitive landscape and an analysis of Porter’s Five Forces model in the market. The study encompasses a market attractiveness analysis, where supplement type, distribution channel, and regional segmentation are benchmarked based on their market size, growth rate, and general attractiveness.

Global Sarcopenia Market

The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments in the market, including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

The study provides a decisive view of the sarcopenia market by segmenting the market based on supplement type, distribution channel, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024.

Based on supplement type, the sarcopenia market is segmented into protein supplement, Vitamin D and Calcium Supplement, and Vitamin B12 supplement. Based on the distribution channel, the sarcopenia market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and hypermarket and supermarket.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further divided into major countries, including the U.S., Germany, France, UK, China, Japan, India, and Brazil. This segment includes the demand for sarcopenia market based on individual segment and treatment in all the regions and countries.

Some of the major players operating in the global sarcopenia market include Abbott Laboratories, Pfizer Inc., Eli Lilly and Company, Bayer AG, Sanofi S.A., GlaxoSmithKline plc, Novartis, Cadila Healthcare, and Amway, among others.

This report segments the global sarcopenia market as follows:

Global Sarcopenia Market: Supplement Type Segment Analysis

Protein Supplement
Vitamin D & Calcium Supplement
Vitamin B12 Supplement

Global Sarcopenia Market: Distribution Channel Segment Analysis

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Hypermarket & Supermarket

Global Sarcopenia Market: Regional Segment Analysis

North America
- The U.S.
Europe
- UK
- France
- Germany
Asia Pacific
- China
- Japan
- India
Latin America
- Brazil
Middle East and Africa

Table Of Content

Chapter 1. Introduction
- 1.1. Report description and scope
- 1.2. Research scope
- 1.3. Research methodology
  - 1.3.1. Market research process
  - 1.3.2. Market research methodology
Chapter 2. Executive Summary
- 2.1. Global Sarcopenia Market, 2015 - 2024 (USD Million)
- 2.2. Global Sarcopenia Market: Snapshot
Chapter 3. Sarcopenia Market - Dynamics
- 3.1. Introduction
- 3.2. Market drivers
  - 3.2.1. Global Sarcopenia Market drivers: Impact analysis
  - 3.2.2. increased prevalence of obesity and an aging population
  - 3.2.3. increase in research and development activities
- 3.3. Market Restraints
  - 3.3.1. Unavailability of new drugs in the market
- 3.4. Opportunities
  - 3.4.1. High spending on R&D
- 3.5. Porter's Five Forces analysis
  - 3.5.1. Bargaining power of suppliers
  - 3.5.2. Bargaining power of buyers
  - 3.5.3. The threat from new entrants
  - 3.5.4. The threat from new substitutes
  - 3.5.5. Degree of competition
- 3.6. Market attractiveness analysis
  - 3.6.1. Market attractiveness analysis, by Supplement Type
  - 3.6.2. Market attractiveness analysis, by Distribution Channel
  - 3.6.3. Market attractiveness analysis, by Regional Segment
Chapter 4. Global Sarcopenia Market - Competitive Landscape
- 4.1. Company Market Share Analysis
  - 4.1.1. Global Sarcopenia Market: company market share, 2015
- 4.2. Strategic Development
  - 4.2.1. Acquisitions & Mergers
  - 4.2.2. New Supplement Type Launch
  - 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
  - 4.2.4. Research and Development, Regional Expansion
Chapter 5. Global Sarcopenia Market - Supplement Type Segment Analysis
- 5.1. Global Sarcopenia Market: Supplement Type overview
  - 5.1.1. Global Sarcopenia Market revenue share, by Supplement Type, 2015 and 2024(USD Million)
- 5.2. Protein Supplement
  - 5.2.1. Global Protein Supplement market, 2015 - 2024(USD Million)
- 5.3. Vitamin D & Calcium Supplement
  - 5.3.1. Global Vitamin D & Calcium Supplement market, 2015 - 2024(USD Million)
- 5.4. Vitamin B12 Supplement
  - 5.4.1. Global Vitamin B12 Supplement market, 2015 - 2024(USD Million)
Chapter 6. Global Sarcopenia Market - Distribution Channel Segment Analysis
- 6.1. Global Sarcopenia Market: Distribution Channel overview
  - 6.1.1. Global Sarcopenia Market revenue share, by Distribution Channel, 2014 and 2024(USD Million)
- 6.2. Hospital Pharmacies
  - 6.2.1. Global Sarcopenia Market for Hospital Pharmacies, 2015 - 2024(USD Million)
- 6.3. Retail Pharmacies
  - 6.3.1. Global Sarcopenia Market for Retail Pharmacies, 2015 - 2024(USD Million)
- 6.4. Online Pharmacies
  - 6.4.1. Global Sarcopenia Market for Online Pharmacies, 2015 - 2024(USD Million)
- 6.5. Hypermarket & Supermarket
  - 6.5.1. Global Sarcopenia Market for Hypermarket & Supermarket, 2015 - 2024(USD Million)
Chapter 7. Global Sarcopenia Market - Regional Segment Analysis
- 7.1. Global Sarcopenia Market: Regional overview
  - 7.1.1. Global Sarcopenia Market revenue share, by Region, 2015 and 2024
- 7.2. North America
  - 7.2.1. North America Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
  - 7.2.2. North America Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
  - 7.2.3. North America Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.2.4. The U.S.
    - 7.2.4.1. The U.S. Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.2.4.2. The U.S. Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.2.4.3. The U.S. Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.2.5. Rest of North America
    - 7.2.5.1. Rest of North America Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.2.5.2. Rest of North America Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.2.5.3. Rest of North America Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
- 7.3. Europe
  - 7.3.1. Europe Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
  - 7.3.2. Europe Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
  - 7.3.3. Europe Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.3.4. Germany
    - 7.3.4.1. Germany Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.3.4.2. Germany Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.3.4.3. Germany Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.3.5. UK
    - 7.3.5.1. UK Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.3.5.2. UK Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.3.5.3. UK Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.3.6. France
    - 7.3.6.1. France Sarcopenia Market revenue, by Supplement Type, 2015 - 2024 (USD Million)
    - 7.3.6.2. France Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024 (USD Million)
    - 7.3.6.3. France Sarcopenia Market revenue, by Region, 2015 - 2024 (USD Million)
  - 7.3.7. Rest of Europe
    - 7.3.7.1. Rest of Europe Sarcopenia Market revenue, by Supplement Type, 2015 - 2024 (USD Million)
    - 7.3.7.2. Rest of Europe Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024 (USD Million)
    - 7.3.7.3. Rest of Europe Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
- 7.4. Asia Pacific
  - 7.4.1. Asia Pacific Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
  - 7.4.2. Asia Pacific Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
  - 7.4.3. Asia Pacific Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.4.4. China
    - 7.4.4.1. China Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.4.4.2. China Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.4.4.3. China Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.4.5. Japan
    - 7.4.5.1. Japan Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.4.5.2. Japan Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.4.5.3. Japan Sarcopenia Market revenue, by region, 2015 - 2024(USD Million)
  - 7.4.6. India
    - 7.4.6.1. India Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.4.6.2. India Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.4.6.3. India Sarcopenia Market revenue, by region, 2015 - 2024(USD Million)
  - 7.4.7. Rest of Asia Pacific
    - 7.4.7.1. Rest of Asia Pacific Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.4.7.2. Rest of Asia Pacific Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.4.7.3. Rest of Asia Pacific Sarcopenia Market revenue, by region, 2015 - 2024(USD Million)
- 7.5. Latin America
  - 7.5.1. Latin America Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
  - 7.5.2. Latin America Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
  - 7.5.3. Latin America Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.5.4. Brazil
    - 7.5.4.1. Brazil Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.5.4.2. Brazil Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.5.4.3. Brazil Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
  - 7.5.5. Rest of Latin America
    - 7.5.5.1. Rest of Latin America Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
    - 7.5.5.2. Rest of Latin America Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
    - 7.5.5.3. Rest of Latin America Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
- 7.6. The Middle East and Africa
  - 7.6.1. The Middle East and Africa Sarcopenia Market revenue, by Supplement Type, 2015 - 2024(USD Million)
  - 7.6.2. The Middle East and Africa Sarcopenia Market revenue, by Distribution Channel, 2015 - 2024(USD Million)
  - 7.6.3. The Middle East and Africa Sarcopenia Market revenue, by Region, 2015 - 2024(USD Million)
Chapter 8. Company Profile
- 8.1. Abbott Laboratories
  - 8.1.1. Overview
  - 8.1.2. Financials
  - 8.1.3. Application portfolio
  - 8.1.4. Business strategy
  - 8.1.5. Recent developments
- 8.2. Pfizer Inc.
  - 8.2.1. Overview
  - 8.2.2. Financials
  - 8.2.3. Application portfolio
  - 8.2.4. Business strategy
  - 8.2.5. Recent developments
- 8.3. Eli Lilly and Company
  - 8.3.1. Overview
  - 8.3.2. Financials
  - 8.3.3. Application portfolio
  - 8.3.4. Business strategy
  - 8.3.5. Recent developments
- 8.4. Bayer AG
  - 8.4.1. Overview
  - 8.4.2. Financials
  - 8.4.3. Application portfolio
  - 8.4.4. Business strategy
  - 8.4.5. Recent developments
- 8.5. Sanofi S.A.
  - 8.5.1. Overview
  - 8.5.2. Financials
  - 8.5.3. Application portfolio
  - 8.5.4. Business strategy
  - 8.5.5. Recent developments
- 8.6. GlaxoSmithKline
  - 8.6.1. Overview
  - 8.6.2. Financials
  - 8.6.3. Application portfolio
  - 8.6.4. Business strategy
  - 8.6.5. Recent developments
- 8.7. Novartis
  - 8.7.1. Overview
  - 8.7.2. Financials
  - 8.7.3. Application portfolio
  - 8.7.4. Business strategy
  - 8.7.5. Recent developments
- 8.8. Cadila Healthcare
  - 8.8.1. Overview
  - 8.8.2. Financials
  - 8.8.3. Application portfolio
  - 8.8.4. Business strategy
  - 8.8.5. Recent developments
- 8.9. Amway
  - 8.9.1. Overview
  - 8.9.2. Financials
  - 8.9.3. Application portfolio
  - 8.9.4. Business strategy
  - 8.9.5. Recent developments

Table Of Figures

List of Figures

1. Market research process
2. Market research methodology
3. Global Sarcopenia Market revenue, 2015 – 2024 (USD Million)
4. Porter’s Five Forces analysis
5. Sarcopenia Market attractiveness analysis, by Supplement Type segment
6. Sarcopenia Market attractiveness analysis, by Distribution Channel segment
7. Sarcopenia Market: Market attractiveness analysis, by Regional segment
8. Company market share analysis, 2017
9. Global Sarcopenia Market revenue share by Supplement Type, 2015 and 2024
10. Global Sarcopenia Market, 2015 – 2024 (USD Million)
a. Global Protein Supplement market, 2015 – 2024(USD Million)
b. Global Vitamin D & Calcium Supplement market, 2015 – 2024(USD Million)
c. Global Vitamin B12 Supplement market, 2015 – 2024(USD Million)
11. Global Sarcopenia Market revenue share by Distribution Channel, 2015 and 2024
12. Global Sarcopenia Market, 2015 – 2024 (USD Million)
a. Hospital Pharmacies, 2015 – 2024(USD Million)
b. Retail Pharmacies, 2015 – 2024(USD Million)
c. Online Pharmacies, 2015 – 2024(USD Million)
d. Hypermarket & Supermarket, 2015 – 2024(USD Million)

Table Of Tables

List of Tables

1. Sarcopenia Market: Market Snapshot
2. Drivers of global Sarcopenia Market: Impact analysis
3. Restraints of Sarcopenia Market: Impact analysis
4. North America Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
5. North America Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
6. North America Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
7. The U.S. Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
8. The U.S. Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
9. The U.S. Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
10. Rest of North America Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
11. Rest of North America Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
12. Rest of North America Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
13. Europe Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
14. Europe Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
15. Europe Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
16. Germany Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
17. Germany Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
18. Germany Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
19. U.K. Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
20. U.K. Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
21. U.K. Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
22. France Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
23. France Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
24. France Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
25. Rest of Europe Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
26. Rest of Europe Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
27. Rest of Europe Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
28. Asia Pacific Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
29. Asia Pacific Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
30. Asia Pacific Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
31. China Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
32. China Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
33. China Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
34. Japan Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
35. Japan Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
36. Japan Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
37. India Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
38. India Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
39. India Sarcopenia Market revenue, by region, 2015 – 2024(USD Million)
40. Rest of Asia Pacific Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
41. Rest of Asia Pacific Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
42. Rest of Asia Pacific Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
43. Latin America Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
44. Latin America Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
45. Latin America Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
46. Brazil Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
47. Brazil Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
48. Brazil Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
49. Rest of Latin America Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
50. Rest of Latin America Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
51. Rest of Latin America Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)
52. The Middle East and Africa Sarcopenia Market revenue, by Supplement Type, 2015 – 2024(USD Million)
53. The Middle East and Africa Sarcopenia Market revenue, by Distribution Channel, 2015 – 2024(USD Million)
54. The Middle East and Africa Sarcopenia Market revenue, by Region, 2015 – 2024(USD Million)

Methodology

Free Analysis

Sarcopenia is a condition in which the body starts losing its muscle mass and normal strength. Mainly aging people suffer from this condition, which affects their activity level and quality of life. Inadequate amount of nutrition intake coupled with aging often leads to the splanchnic withdrawal of amino acids, decreased muscular reaction to postprandial anabolic response, and vitamin D deficiency. It can be categorized into presarcopenia—loss of muscle mass, sarcopenia—loss of muscle, and severe sarcopenia involves loss of muscles that severely affects the normal functioning of the body. The loss of muscle among the elderly adversely impacts the muscle functions and results in muscle impairment, disability, and mortality. Sarcopenia can be diagnosed with the help of various techniques, such as imaging, MRI, anthropometry or hydrostatic weighing, and dual-energy X-ray absorptiometry (DXA), which can proficiently measure muscle mass. DXA is the most commonly used technique to diagnose sarcopenia.

The various factors projected to drive the growth of sarcopenia market over the forecast timeframe are increasing aging and obese population. The Population Reference Bureau Report in “Aging in the United States” published the number of Americans over the age of 65 or above will be more than double by 2060, i.e., from 46 million in 2016 to over 98 million by 2060. As per the World Health Organization 2016, nearly 650 million adults globally are obese. There is no permanent cure for obesity, which has led to an increase in research and development activities for the development of better treatment options. Furthermore, change in government policies pertaining to research and development activities and disease management activities are further expected to fuel this market in the near future. However, the non-availability of new drugs is expected to limit the sarcopenia market in the upcoming years.

Global Sarcopenia Market

Sarcopenia market is segmented on the basis of supplement type and distribution channel. By supplement type, this market includes protein supplement, Vitamin D and calcium supplement, and Vitamin B12 supplement. Protein supplements are expected to dominate the market over the forecast time period. By distribution channel, the sarcopenia market includes hospital pharmacies, retail pharmacies, online pharmacies, and hypermarket and supermarket. Online pharmacies are expected to experience a rapid rate of growth over the forecast time period.

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the key regions of the global sarcopenia market. North America is expected to dominate the sarcopenia market owing to the presence of developed countries and advanced healthcare infrastructure. Europe is expected to closely follow North America in terms of revenue. The Asia Pacific is expected to experience rapid growth in the near future owing to the presence of developing economies over the forecast time period.