Archive: November 1, 2022

Chemical Testing Services Market is projected to expand at a healthy CAGR of 5.0% during the forecast period 2017 – 2025

Future Market Insights research delivers in-depth research on the chemical testing services market in its latest report, titled ‘Chemical Testing Services Market: Global Industry Analysis and Opportunity Assessment, 2017–2025”. According to the report, the global chemical testing services market is projected to expand at a healthy CAGR of 5.0% during the forecast period in terms of revenue.

Global Chemical Testing Services Market: Overview & Analysis

A chemical testing services market is a crucial processing step for regulatory compliance and certifiers to apprehend the composition and quality of chemical materials and substances that are used in industrial processes, products, and manufacturing any end product. Moreover, a chemical testing services market requires proficiency in applying the most pertinent methodology and expert industrial knowledge. Further, various kinds of chemical analysis in chemical testing services is provided to ensure that the products are aligned with various regulations such as REACH, RoHS, and other chemical notifications. Further, for a few verticals such as agrichemical, pesticides, or pharmaceuticals, there are different chemical testing services laboratories, including the Good Laboratory Practice (GLP) and Good Manufacturing Practice (GMP).

The chemical testing services market is growing at a faster pace, as quality audits and demand recalls are receiving more publicity now than in the past, making the response to them more sensitive and urgent. With chemical testing services market providers requiring to conform to a variety of government-mandated requirements and regulatory compliances, they need to maintain strict detailed product information and quality management. In addition, special materials, production techniques, and packaging requirements force manufactures to keep stringent control over their manufacturing processes in chemical testing services market. These regulations through government and regulatory bodies are boosting the growth of the chemical testing services market.

The chemical testing services market in North America, APAC, MEA, and Latin America are anticipated to contribute majorly to the global chemical testing services market. The market in APAC is expected to account for 28.5% share in terms of value in the global chemical testing services market and be valued at US$ 9,704 Mn by 2025 end. The increasing demand for chemical testing services certifications and analysis from the consumer goods and manufacturing industry of Europe and APAC, especially China and Japan, is expected to fuel revenue growth of the market in the region. The chemical testing services market in North America is estimated to be valued at US$ 5,282 Mn by 2017 end of, and is projected to expand at a CAGR of 39.6% during the forecast period.

Factors such as increasing demand for chemical safety and quality control, growing demand for the outsourcing of chemical testing services, increase in manufacturers and TIC providers, and partnerships to strengthen the food security approach to encourage certifications, governments are subsidizing the cost of certification, which is expected to drive revenue growth of the global chemical testing services market.

The global chemical testing services market is segmented on the basis of service type, sample type, end-use, and region. By sample type, the chemical testing services market is segmented into agrochemicals & pesticides, basic & industrial chemicals, dyes & detergents, lubricants & greases, nanomaterials, petrochemicals, polymers & plastics, and specialty chemicals. Moreover, by end-use, the chemical testing services market is categorized into consumer goods, environmental, and manufacturing. Key regions covered in the report are North America, Latin America, Europe, APAC, and Middle East & Africa.

The chemical testing services market report analyses the global chemical testing services market in terms of value (US$ Mn) by testing service type, sample type, end use, and region; and provides insightful information regarding the segment analysis, market trends, competitive landscape, market dynamics, market estimations, and forecast.

These insights are based on a report on Chemical Testing Services Market by Future Market Insights

BPTP Organizes a Spectacular Cultural Evening for Its Channel Partners

A cultural extravaganza was organized by BPTP, one of the top developers in the NCR, in the BPTP District neighborhood comprising Sectors 81 and 84. BPTP District, classified as “Faridabad’s New Landmark”, is an efficient residential complex with major amenities within reach. A cultural gathering was held for the channel partners. The cultural programs organized were the best attractions.

Future growth prospects and profitability were the subjects of intense discussion. Future releases of multiple large initiatives and alliances may result from it. Rohit Mohan, Senior Vice President, BPTP Group, said, “We were delighted to welcome our guests at the great evening to discuss the likelihood of future tie-ups or partnerships in projects. The attendees warmed up to us.”

Speaking further, he added, “Throughout this time, professionals are given a significant incentive and outstanding evaluations. Because of an increase in income, a desire to purchase real estate, appealing perks, and the joyful and early atmosphere pervading the air, buying a home during this time has evolved into an all-savings plan.”

BPTP District is Faridabad’s new plotted development project embellishing a unique concept in future living. Plot sizes ranging from 100 to 180 sq yards are available at BPTP District. The plotted development is a secure gated community with never seen amenities such as designated vehicle charging points, dedicated ambulances for residents, eco-friendly shuttles, an outdoor podium, a library bar, and smart drip & sprinkler irrigation systems.

Digit Insurance celebrates five-year anniversary, serves 30 million customers since inception

1 st November 2022, Hyderabad: Go Digit General Insurance Limited (Digit), one of India’s fastest-growing insurance players^#, completed five years of operations recently. The company, which began its operations in October 2017 with a mission of simplifying insurance, commands a market share of 4.3% in the motor segment.

Digit has managed to remain one of the fastest-growing insurers among private general insurers by GDP^# for the last three years (FY20 to FY22), establishing a track record of delivering growth. The company posted a revenue^$ of Rs 52.68 billion, Rs 32.43 billion, and Rs 22.52 billion in Fiscals 2022, 2021, and 2020, clocking a CAGR of 52.9%. The insurer offers 56 products under motor, health, travel, property, marine, liability, and other insurance lines, and has managed to serve more than 30 million^{^} people since inception.

Digit had a loss ratio of 74% as of Fiscal 2021 and Fiscal 2022 and also managed to reduce its net expense ratio from 42.4% for Fiscal 2020 to 38.7% for Fiscal 2022, highlighting its improving operational efficiency. The insurer’s combined ratio (a measure of underwriting profitability) has improved from 117.4% in Fiscal 2020 to 112.7% in Fiscal 2022.

“I am excited to see how the Digit story has unfolded in the last five years. The celebration of this milestones truly belongs to our strong team of 2500+ employees and partners who from Day 1 have brought a culture of change and helped the company in achieving these audacious goals. We hope to continue driving our growth by expanding into untapped geographies, acquiring new customers, and growing our product portfolio to meet the evolving needs of the Indian market,” said Jasleen Kohli, MD, and CEO, of Digit Insurance.

Digit has managed to increase its market share from 1.22% in Fiscal 2021 to 2.12% in Fiscal 2022 in terms of total GDP from private and public general insurers. Since inception, it has also managed to capture market share in the motor segment. The company’s motor GDP grew by 53.7% YoY in FY22 compared to the private motor insurance market, which expanded by 9.16%^# measured by GDP. It also had net promoter scores of 78% for non-claims and 86.4% for motor claims as of FY22.

The company over the years has managed to differentiate itself by adopting a ‘phy-gital’ distribution model. It has empowered its 32,613-strong partner ecosystem by digitizing offline networks. Digitally enabling the partners through 470 AI-driven microsystems and 1,063 API integrations has helped the company reduce fixed costs significantly and scale rapidly without incurring significant overhead expenses.

The predictive underwriting models utilizing its data bank has helped the company to price risk more accurately, and target markets that are expected to be more profitable. It has also managed to promote a high-quality customer experience by providing relevant, transparent, and customizable coverage through simple and easy-to-understand policy documentation and designing straightforward and paperless processes. The technological integrations have also helped the insurer reduce claims settlement turnaround time (TAT).

Indian Overseas Bank Observes Vigilance Awareness Week 2022 From 31st October to 06th November 2022

Chennai, 1.11.22: Indian Overseas Bank Observes Vigilance Awareness Week 2022 from 31st October to 06th November 2022 on the theme “Corruption free India for a developed Nation; भ्रष्टाचार मुक्त भारत – विकसित भारत”.”.

At Central Office, MD & CEO Shri.ParthaPratim Sengupta administered Integrity Pledge in English followed in Hindi by Shri Ajay Kumar Srivastava, Executive Director on 31st October 2022 @ 11:00 am. Executive Director Smt. S. Srimathy, administered the Rashtriya Ekta Diwas pledge in English followed in Hindi by Shri Reyazul Haque, General Manager.

PAN India both the pledges have been administered by the concerned Regional Managers and Branch Managers to their staff at various centers.

Exokinetics Aims to Accelerate Zeen® Manufacturing Capacity With Series B Funding Round

Philadelphia, PA (Nov 1, 2022) –Exokinetics, the creators of the Zeen, announces its Series B funding round, which is open to the public on the Seed Invest platform. The Zeen is a groundbreaking “Elevating Walker-Chair” invention that supports mobility and autonomy for those whose lives are restricted due to a variety of physical limitations.

According to the CDC, one in four American adults have a disability that impacts major life activities. Mobility limitations are the most common disability type, affecting one in seven adults. The Zeen can be a superior option compared to traditional walkers and wheelchairs since it continually supports users while seated or standing – all while providing an active lift through transitions. The Zeen is ideal for those who are at risk of falling while moving throughout their day, and for those who tire easily when walking due to disability, injury, age, or chronic condition. It offers unique social benefits, permitting individuals to rest and converse at eye-level height in “barstool mode” rather than in a low position with their heads at others’ waist-height.

“After watching my aging parents struggle with wheelchairs – which can be one-way-tickets to not walking – I knew something serious was missing from the personal mobility landscape,” said Hall-of-Fame inventor Garrett Brown. “Together with my inventing partners, I founded Exokinetics to pursue a revolutionary solution to change the lives of people with challenged mobility. The Zeen can unlock a true sense of freedom and help recover the joys of independent movement – and we embrace the opportunity to include new investors who share our vision.”

Exokinetics has a portfolio of issued and pending patents managed by Brown, who personally holds over 100 patents worldwide. The financing will allow the company to accelerate its manufacturing capability, continue to build consumer awareness and expand its product line to include other variations of the Zeen, among other potential products.

For more information on Zeen by Exokinetics or to become an investor, please visit

https://www.seedinvest.com/exokinetics/series.b

About the Zeen

Created by Hall of Fame Steadicam Inventor, Garrett Brown and the team at Exokinetics, Inc., the Zeen is a groundbreaking mobility device designed for those who are at risk of falling or tire easily when walking due to disability, injury, age. Because of its unique zero-gravity design, the Zeen allows users to move seamlessly between standing, sitting, strolling, coasting and “barstool” positions without the hinderance of a walker, cane, or wheelchair. The Zeen is designed to be integrated into daily life to support freedom and joy of movement in a safe and stable manner. For more information, please visit www.gozeen.com.

Exokinetics is offering securities under Regulation CF and Rule 506© of Regulation D through SI Securities, LLC (“SI Securities”). The Company has filed a Form C with the Securities and Exchange Commission in connection with its offering, a copy of which may be obtained at: https://www.seedinvest.com/exokinetics