Industry Analysis Reports | Health Care | Medical Devices

Tuesday, 18 August 2020

Global Trends on Cardiac Implant Devices Market- Demand, analysis and Forecast

Cardiac Implants Market Overview

Cardiac implants are specifically designed to monitor irregular heartbeats in people with heart rhythm disorders. Such disorders are mainly caused by problems associated with the heart’s electrical system, which signals the heart to pump blood throughout the body. Devices comprise implantable cardioverter defibrillators, pacemakers, implantable hemodynamic monitoring, cardiac resynchronization therapy, and implantable heart rhythm monitors, which are also referred to as loop recorders. The global cardiac implants market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 7.82%, surpassing a valuation of USD 38,054.3 million during the forecast period (2019-2023).

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Cardiac implants are extensively used to treat myocardial ischemia, acute myocardial infarction, and arrhythmias. The increasing prevalence of geriatric population along with demographic changes across the globe are considered primary growth stimulants of the cardiac implants market. Surging regulatory approval for cardiac implants will encourage the adoption of cardiac implants across the globe. Healthcare organizations and hospitals indicate cardiovascular implants at risk of cardiac disorders to offer artificial control in patient’s heartbeat. The rising number of regulatory approvals for advanced and innovative cardiac implant devices will facilitate the Cardiac implants Devices market in the foreseeable future.

The surging prevalence of cardiovascular diseases across the globe has led to increased adoption of cardiac implants. The rising focus on R&D is considered a key trend impacting the market positively. Vendors involved in cardiac implants are highly focusing on the development of innovative cardiac implants like dual-chamber leadless pacemaker and wireless endocardial pacing systems. Such developments will drive the market growth in the years to come.

On the contrary, infections related to implantable pacemakers in cardiac patients will remain a major restraining factor to the market growth across the globe.

Global Cardiac Implants Market: Segmental Analysis

The cardiac implants market has been segmented on the basis of device, indication, and end users.

By device, the market is segmented into prosthetic heart valve devices, coronary stents, and others.

By indication, the market is classified into heart failure, arrhythmias, and others.

Considering the end use segment, the market is segmented into cardiac care centers, hospitals, and others. Of these, the hospital segment is likely to gain prominence due to favorable reimbursement policies.

Cardiac Implants Market Regional Frontiers

Geographically, the cardiac implants market spans across America, Europe, Asia Pacific, and the Middle East & Africa.

Considering the global scenario, America is predicted to command the largest market share, mainly due to the soaring incidences of cardiac diseases, coupled with the increased adoption rate of cardiac implantable electronic devices in the region. Moreover, increased demand for the pacemaker, especially in North America will contribute to the market’s growth.

The market in Europe will experience considerable growth owing to increased funding from the government for, healthcare, coupled with the rising initiatives by the insurance companies for heart patients.

The Asia Pacific will expand at the fastest rate during the foreseeable future. The growth can be credited to the rising geriatric population, increasing popularity of medical tourism, and changing lifestyle of the population. Surging preferences for technologically advanced products for cardiac rhythm management and increased concerns regarding healthcare for stroke prevention will encourage the regional market’s growth.

Industry Updates

August 2019: The U.S. FDA has recently approved a heart implant, which offers therapeutic stimulation to the patients suffering from advanced heart failure. The device named the Barostim Neo System is a cardiac neuromodulator, which helps to stimulate the baroreceptors of patients not suited for heart failure treatments such as cardiac resynchronization therapy.

Competitive Dashboard

The top players operating in the cardiac implants market include Amg International (Germany), Abbott (US), B. Braun Melsungen AG (Germany), Edwards Lifesciences Corporation (US), Boston Scientific Corporation (US), Biotronik (US), Medtronic Plc (US), LivaNova PLC (UK), Terumo Corporation (Japan), and SynCardia Systems, Inc. (Arizona).

NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Market Research Future

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Trends : Body Contouring Devices and Procedures Market have a wide range of applications in the medical care sector

Body Contouring Devices and Procedures Market Top Key Players:

Some of the prominent players in the global body contouring devices and procedures market are Cynosure, Inc., Alma Lasers, Alleragan, Syneron Medical Ltd, Bausch Health Companies, Inc, Lumenis, Merz Pharma GmbH & Co., Palomar Medical Technologies Inc., Sound Surgical Technologies LLC., Zeltiq Aesthetics, Chromogenex Technologies LTD, UltraShape Ltd, Fotona, Misonix Inc., Medicis Pharmaceutical Corporation, Sientra Inc., Invasix Ltd, Erchonia Inc, Lutronic.

Market Highlights:

The Global Body Contouring Devices and Procedures Market held a market value of USD 2,103 million in 2017 and is projected to grow at a CAGR of 6.6% over the forecast period.Body contouring is a altering the body part by improving the appearance. It involves the removal or transfer of fat to the body.

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Due to increasing prevalence of obesity across the globe many of the companies are in the race to introduce better treatment for obesity. Companies are using a trend of strategic alliance and acquisition to gain the market and minimize the competition in the market.

Additionally, the growing research and development expenditure by the government as well as private sector is likely to contribute to the market growth. As per the data by the Office for National Statistics, in 2016, the gross domestic expenditure on research and development (R&D) was Euro 33.1 billion (USD 35.2 billion) in the UK. However, the high cost of urgery with advanced technologies may hamper the market growth during the assessment period.

Regional Analysis:

On regional basis, the Americas is anticipated to dominate the Global Body Contouring Devices and Procedures Market owing to the growing R&D budgets by both government as well as commercial pharmaceutical and biotechnological companies and increasing adoption of advanced technologies in the region. Europe is expected to hold the second largest position in the global body contouring devices and procedures market owing to the presence of strong academic & research base and availability of funding for research in the European countries. Asia Pacific has served an opportunity for developing body contouring market in this region due to increasing demand for the better treatment and devices and increasing prevalence of disease like diabetes and obesity. The Middle East & Africa has the least share of the global body contouring devices and procedures market. Moreover, the major market share of the region is expected to be held by the Middle East region owing to the increasing government initiatives for the healthcare sector.

Segmentation:

The global body contouring devices and procedures market has been segmented into type, procedure, and end user. By type, the market has been segmented into non-invasive & minimally invasive devices and invasive devices. The non-invasive & minimally invasive devices segment is estimated to hold major market share in the global body contouring devices and procedures market due to the huge investments by major market players for the development of advanced technologies and equipment.

Based on procedure, the market has been segmented into non-surgical skin resurfacing, non-surgical skin tightening, cellulite treatment, liposuction, and others. The market, by end user, has been segmented into hospitals & clinics, research institutes & Organization, and others.

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Table Of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

About Market Research Future:

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Covid19 Impact on Neurovascular Devices Market Expected to Grow at 8.8%CAGR by 2023

Global Neurovascular Devices Market Research Report: Product (Aneurysm Coiling & Embolization Devices, Support Device) Therapeutic Application (Hemorrhagic & Ischemic Strokes) End-User (Hospitals, Ambulatory Surgical Units) – Global Forecast Till 2023

Neurovascular devices are increasingly being used in for treating and management of neurovascular disorders such as arteriovenous malformations (AVMs) and brain aneurysm. As the global burden of neurovascular disorders continue to rise, the demand for their treatments gains further traction. Neurovascular disease are complex in nature and hence preference for minimally invasive procedures is higher. This, in turn, is driving the sales of neurovascular devices across the globe. Market Research Future (FRMR) is its latest report asserts that the global neurovascular devices Market will grow at a healthy rate over the next couple of years.

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Latest Industry Highlights:

Perflow Medical, a renowned medical devices manufacturing company based in Israel, which is primarily engaged in developing novel solution for neurovascular interventions. Has recently announced that the company successfully approved a $12 Mn funding from its investors. Reportedly, the funding syndicate in included two new international investors with the existing stakeholders.

Junkosha a US-based company has recently introduced a unique peelable heat shrink. The technology will reportedly enable access to intricate parts of the vascular system with minimal risk of damage to the surroundings.

Incessant product innovation, increased product marketing and favourable reimbursement policies are driving the global market for neurovascular devices. Other factors that are reflecting favourably on the market include expansion of the geriatric population, and advances in medical technology in the field of interventional neurology. Moreover, neurovascular devices are also used in treating patients suffering for ischemic stroke or haemorrhagic. It has been observed that neurovascular device assisted interventional procedures are replacing the traditional neurosurgeries. Owing the low risk of damaging surrounding tissues and minimal surgical trauma, interventional procedure are more favoured as compared to neurosurgery. At the same time, chances of infection is significantly when neurovascular device based treatment. On the other hand, inadequate number of hilly skilled neurologist, particularly in developing countries expected to have a negative impact on the growth of the market. High cost of neurovascular devices continue to limit their user base despite their increased efficiency.

Global Market for Neurovascular Devices – Segmental Analysis

MRFR in its report has offer comprehensive segmental analysis of the market based on therapeutic application, end-user and product. By therapeutic application, the market is bifurcated into ischemic strokes and hemorrhagic stroke. Based on end user, the market is segment into ambulatory surgical units and hospitals & clinics. By product type, the market is segmented into stenting systems, neurothrombectomy devices, cerebral balloon angioplasty, aneurysm coiling & embolization devices and support device.

Regional Overview

The Americas is expected to hold the dominant position in the global market for neurovascular devices. This is primarily attributed to the rising incidences of neurovascular disorders such as arteriovenous malformations (AVMs) and brain aneurysm across North and South America. In addition, presence of major players and rising healthcare spending among Americans is propelling the market in the region. Improved reimbursement scenario and rapid adoption of neurovascular devices in neurological centers across the region is also proving an impetus to the market. Asia Pacific and Europe are two other regions anticipated to present significant growth opportunities for market during the forecast period.

Global Market for Neurovascular Devices – Competitive Analysis

Leading companies operating in the global market for neurovascular devices include Medtronic, TERUMO CORPORATION, Merit Medical Systems, Inc., Penumbra, Inc., Evasc, Neuravi, Sensome, Delaware Corporation, Gynesonics, Stryker, Johnson & Johnson Services, Inc., Abbott, Medikit co., ltd., MicroPort Scientific Corporation, Rapid Medical, W. L. Gore & Associates, Inc., Blockade Medical, LLC., OxfordEndovascular, and Secant Group, LLC. A majority of these market participants are actively focusing on expanding market presence by engaging in merger & acquisition and reaching offshore distribution agreements with third party vendors.

About Market Research Future:

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

Covid19 Impact on Microdermabrasion Market is Determined to Grow at a CAGR of 3.4%by 2023

Microdermabrasion Market Scenario

Microdermabrasion is a minimal invasive technique involving spraying of tiny crystal for removal of thicker and even outer layer of skin. The microdermabrasion treatment diminished fine lines, wrinkles, acne scars, reducing the appearance of superficial pigmentation and sun damage. This procedure helps in thickening of collagen which results in younger skin complexion.

According to the American Society of Plastic Surgeon in 2015, nearly 15.9 million surgical and minimally invasive procedures were carried out in United States. The increasing demand for non-invasive cosmetics procedures is key driver to upsurge the market growth. Moreover, there is growing demand for microdermabrasion devices owing to more awareness and consciousness in people about their looks. Attraction of the youth towards western lifestyle and extensive use of cosmetics for skin care accelerate the growth of the market.

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Apart from this, advantages like quick recovery, less time consumption and better results boosts the market growth. Additionally, development of new technologically advanced devices, and increasing demand for cosmetics also influence the growth of the market.

The availability of alternative treatments like vibraderm, exfoliating products, chemical peels, photo abrasion and laser resurfacing are major restraints in market growth. On the other hand, factors such as high procedural costs and risks of side effects followed by increasing use of the lasers in dermatology will retrain the market growth during the 2017 to 2023.

The global microdermabrasion market is approximate to reach USD 802.44 million by 2023 from USD 609.79 million in 2016 at a CAGR of 3.42% from 2017 to 2023.

Global Microdermabrasion Market –Competitive Landscape

The global microdermabrasion market is observed to be growing due to increasing developments by the prominent players in this market like Johnson & Johnson Services Inc., Procter & Gamble, Altair Instruments, Derma TX and other companies which boosts global microdermabrasion market. The key players in this market focuses on strategy to maintain its position in this market such as use of advanced technology for developing products, tie-ups with online portals and collaborations with other companies.

April, 2017 Johnson & Johnson announced tie-up with online portal aCommerce for selling company’s skincare product brands Neutrogena and Aveeno skincare. This collaboration helped the company to increase its skincare market in Philippines.

January, 2017 Derma TX Advanced skin care launched a microdermabrasion system for treatment of specific skincare issue. This launch aided rise in the company’s business in cosmeceutical skincare products.

March, 2014 Proctor & Gamble Beauty scientists offered insights into new ingredient formulation and effective skin care routines at 72nd Annual Meeting of the American Academy of Dermatology (AAD). Proctor & Gamble researchers showcased advanced studies in skincare technologies which included topics like cellular bioenergetics, anti-aging technologies, sensitive body wash efficiency and microdermabrasion systems.

Regional Analysis

The Americas is leading region in global microdermabrasion market owing to increasing prevalence of skin diseases such as acne, rising demands for outpatient and minimally invasive microdermabrasion procedures, and growing expenses on the cosmetics within this region.

The European region holds second largest market share in the global microdermabrasion market due to increasing incidence of skin related problems and increasing demand for anti-wrinkle and anti-aging treatments. Additionally, growing awareness about use of advanced technologies for skincare and rising healthcare expenditure facilities boosts the market growth in this region.

The Asia Pacific is the fastest growing market due to increased consumer awareness about aesthetic skin care treatment and growing demand for minimally invasive procedures and the growing prevalence of dermal conditions fuels the market growth in this region. Further, increasing prevalence and growing incidence of conditions of hyperpigmentation, stretch marks, and others fuels the market growth in this region.

The Middle East and Africa is the least growing market due to lack of awareness about microdermabrasion procedure and presence of poor countries especially in African region. The Middle East dominates the market in this region owing to huge healthcare expenditure and developed healthcare sector. Additionally, the presence of developed countries like Kuwait, Qatar and Saudi Arabia boosts the microdermabrasion market in this region.

About Market Research Future:

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Akash Anand
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Monday, 17 August 2020

Global Emergency Department Information System Market Growing at a CAGR of 15.10% By Market Growth, Trends, Absolute Opportunity and Value Chain 2018 to 2023

The global emergency department information system (EDIS) market is expected to grow at a robust 15.10% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global emergency department information system market is profiled in detail in the report, which provides readers with a comprehensive overview of the market’s leading players, leading drivers and restraints, as well as the microeconomic and macroeconomic factors working in the background to enable the emergency department information system market’s growth. A detailed projection for the emergency department information system market’s development till 2023 is provided in the report.

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Emergency department information systems are an offshoot of electronic healthcare records (EHR) specifically developed to make it easier for emergency departments to gain information on new patients quickly. In emergency departments, time is of the essence, as every second saved on preliminary procedures can end up being of major help in potentially saving the patient’s life. However, due to the fact that emergency departments may also serve patients who are not regulars at the respective hospital, emergency departments have to deal with the problem of not always being able to know the relevant details about incoming patients. This has been a major driver for the emergency department information system market over the last few years, as healthcare officials have acknowledged the importance of having patients’ factsheets ready when it comes to administering emergency treatments. Emergency department information systems allow emergency departments to pull patient information from other hospitals, enabling smooth knowledge transfer about pertinent issues ranging from the patient’s allergies to their language preferences.

The rising demand for data-driven decision making in the healthcare sector is likely to drive the emergency department information system market over the forecast period. The growing number of visits to emergency departments is also likely to convince hospitals to install emergency department information systems. On the other hand, high costs and unavailability of trained medical IT personnel may hamper the emergency department information system market’s growth in developing countries.

Competitive Analysis:

Leading players in the global emergency department information system market include Medhost, McKesson Corporation, Cerner, Epic Systems Corporation, and Meditech. Players in the global emergency department information system are likely to focus on the development of functional emergency department information systems that can work across platforms to retrieve the relevant information in cases of emergencies. The rising demand from hospitals for emergency department information systems is likely to drive significant product development efforts in the emergency department information system market over the forecast period.

In August 2019, St. Claire HealthCare in Kentucky installed a new emergency department information system.

Segmentation:

The global emergency department information system market is segmented on the basis of component, delivery mode, application, end use, and region.

By component, the global emergency department information system market is segmented into software, hardware, and services.

By delivery mode, the market is segmented into software as a service (SaaS) and on-premise EDIS. The SaaS segment held the largest share in the global emergency department information system market in 2017 and is likely to continue to dominate the market in the coming years due to the convenience of SaaS systems.

By application, the global emergency department information system market is bifurcated into clinical functionality and administrative functions. The clinical functionality segment is further sub-segmented into patient entry, tracking and triangulation, department-centered tracking, clinical documentation, computer provider order entry, result reporting, and discharge management.

By end use, the emergency department information system market is segmented into large hospitals, midsized hospitals, and small hospitals.

Regional Analysis:

The Americas holds the largest share in the global emergency department information system market, followed by Europe. Steady growth and technological development in the healthcare sector in these two regions have been conducive to steady growth of the emergency department information system market in these two regions, as hospitals have welcomed the installation of emergency department information systems.

Asia Pacific is likely to exhibit high potential in the coming years, with countries such as Japan and China dominating the regional market. The high volume of the patient demographic in Asia Pacific has presented the emergency department information system market with significant scope for growth.

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Covid19 Impact on Diagnostic imaging Market Value Chain, Factor Analysis, Region and Forecasts Till 2023

Diagnostic Imaging Services Market Research Report: by Procedure (Computed Tomography, MRI, X-ray), by Application (Neurology, Oncology, Cardiology), By Service Provider (Diagnostic centres) - Global Forecast Till 2023

Market Highlights

The Global diagnostic imaging market is projected to grow at a CAGR of 8.2% over the forecast period. In recent years, diagnostic imaging services improved their efficiency and accuracy for the of various acute and chronic diseases including cardiovascular diseases and cancer. The increasing prevalence of geriatric population and subsequent growth in the incidence of cardiac, and neurological diseases including cancer, growing government funding’s for development of medical diagnostics field, and the on-going technological advancements in imaging services are some factors that are anticipated to drive the market growth during the assessment period. Additionally, increasing demand for diagnostic imaging devices and development expenditure by the government as well as private sector is likely to contribute to the market growth. As per the data by the Office for National Statistics, in 2016, the gross domestic expenditure on research and development (R&D) was Euro 33.1 billion (USD 35.2 billion) in the UK. However, high cost of diagnostic imaging devices and unfavorable reimbursement policies may hamper the market growth during the assessment period.

Key Players

Some of the prominent players in the global diagnostic imaging services market are Center for Diagnostic Imaging (CDI), Medquest Associates Inc./Novant Health, Simonmed/Dignity Health, Touchstone Imaging, Alliance Medical, Medica Group, Sonic Healthcare, Global Diagnostics, Consensys Imaging Service, Inc., Progressive Radiology, Concord Medical Services Holdings Limited, Alliance Healthcare Services, InHealth Group and others.

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Segmentation

The Global diagnostic imaging services market has been segmented into procedure, application, and service provider.

By procedure, the market has been segmented into X-ray, Computed Tomography, Ultrasound, MRI (Magnetic Resonance Imaging), Nuclear Imaging, Radiography and others. The procedure segment is estimated to hold major market share in the global diagnostic imaging services market due to the rising R&D activities in the medical diagnostics field.

On the basis of application, the global diagnostic imaging services market has been segmented into Neurology, Cardiology, Oncology, Musculoskeletal and others.

The Global diagnostic imaging services market, by service provider, has been segmented into Clinics & Hospitals, Diagnostic centers, Research laboratories and others.

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Regional Analysis

On regional basis, the Americas is anticipated to dominate the global diagnostic imaging services market owing to the growing clinical R&D budgets by both government as well as public and private organizations in diagnostic imaging modalities and increasing adoption of advanced technologies in the region. Additionally, rising prevalence of geriatric population along with various chronic diseases is contributing the growth of this market. According to a report by Population Reference Bureau, the number of older population (aged 65 and above) will rise to nearly 24% from 15% by 2060. Europe is expected to hold the second largest position in the global diagnostic imaging services market owing to the presence of strong academic & research base and availability of funding for research in the European countries. Moreover, rising healthcare expenditure and awareness among people for detection of diseases is boosting the market in this region. The Asia-Pacific region is anticipated to be fastest growing region is due to rising demand for imaging devices, good quality healthcare infrastructure and incidence of major key players for growth and development in this region. The Middle East & Africa has the least share of the global diagnostic imaging services market. Moreover, the major market share of the region is expected to be held by the Middle East region owing to the increasing government initiatives for the healthcare sector.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Pune – 411028
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Email: sales@marketresearchfuture.com

AI in Drug Discovery Market highly promising expected to witness a notable CAGR of 40.8% By 2025

The AI in drug discovery market is growing continually. Artificial intelligence technology has the potential to revolutionize the pharmaceutical sector and open whole new avenues for technology providers. Resultantly, the adoption of the AI technology to boost efficiency and throughput in clinician workflow is rising steadily. Moreover, the growing applications of AI technology in various drug discovery and development process escalate the market demand to furthered height.

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According to Market Research Future (MRFR), the global AI in drug discovery market is poised to create a valuation of USD 2,015.1 MN by 2025, registering a massive 40.8% CAGR throughout the predicted years (2019 – 2025). Recent COVID 19 pandemic is projected to boost the size of the market. AI and machine learning integration in discovery and development applications are increasing to expedite drug development processes.

Also, substantial investments made into AI business are projected to boost the market growth. AI integration minimizes the risk of adverse reactions during trials, reduces the drug discovery timeframe, and, most importantly, reduces drug development costs. Machine learning and other AI tools have a vast potential to make the discovery of new pharmaceuticals faster, cheaper, and more productively. As a result, major pharma companies are increasingly using AI technology for drug discovery.

Moreover, rising numbers of start-ups operating in the AI spectrum drug discovery foster market growth. Simultaneously, increasing numbers of cross-industry partnerships formed to achieve improvements in drug development outcomes drive the growth of the market. On the other hand, high costs associated with AI integration are a major factor estimated to hamper the market growth. Also, the lack of adequate infrastructure in low economic countries obstructs the growth of the market.

AI in Drug Discovery Market – Segments

The report is segmented into seven dynamics;

By Product Type : Services and Software.

By Molecule Type: Large and Small Molecules.

By Technology : Machine Learning, Deep Learning, and others.

By Indication : Immuno-oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases, and others.

By Application : Target Identification, Candidate Screening, De novo Drug Designing, Drug Optimization & Repurposing, Preclinical Testing, and others.

By End-User : Pharmaceutical & Biotechnology Companies, Research Centers and Academic & Government Institutes, Contract Research Organizations, and others.

By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.

AI in Drug Discovery Market – Regional Analysis

North America dominates the global AI in drug discovery market. Market share attributes to the increasing prevalence of chronic diseases and high healthcare expenses. Moreover, the recent COVID 19 pandemic is estimated to increase the size of the regional market. Besides, factors such as the presence of growing numbers of big AI platform developers and a well-developed healthcare sector in the region allow rapid market growth.

Increasing adoption of top AI platforms, including Google AI, Microsoft Azure, and TensorFlow by major pharma companies in drug discovery processes, boost the regional market growth. Moreover, increasing demand for Artificial Intelligence technologies from key pharmaceutical companies such as AbbVie, Genentech, Eli Lilly and Company, and Amgen, among others, drive the growth of the market.

Europe stands second in the global AI in drug discovery market. Market growth is driven by the increasing R&D activities in the pharma sector and the high demand for AI solutions by drug development companies. Top pharma companies in the region form strategic partnerships with international AI service providers to expedite their drug discovery process, which, in turn, boosts the market growth. The UK, Germany, and France are the major growth contributors to the regional market.

Additionally, substantial R&D investments and increasing government funding in the development of AI technology foster regional market growth. Furthermore, the recent COVID 19 epidemic is estimated to increase the size of the regional market. Besides, strategic deals between the UK government and industry players are expected to increase AI research investments. The European AI in the drug discovery market is projected to create a substantial revenue pocket.

The Asia Pacific AI in drug discovery market is estimated to become the fastest-growing market. Factors such as the increasing demand for effective drug discovery solutions and rapidly growing pharmaceutical sectors in the region drive market growth. A number of start-ups in the region are working to integrate AI Drug discovery Market. It is predicted that the adoption of AI technologies in mainstream drug discovery protocols will take place in the future. With their increasing numbers of AI platform companies, countries like India and China contribute significantly to the regional market growth.

Innovation/Industry/Related News:

June 01, 2020 ---- Syntekabio Inc. (South Korea), a bioinformatics venture firm and AI drug Development Company, announced the identification of a respiratory disease drug as a potential COVID19 therapeutics. The crystal structure of SARS-CoV-2’s 3CL protease (Mpro) is the main viral protease that plays a crucial role in viral gene expression and proliferation of the SARS-CoV-2 virus. As soon as this structural information became available, Syntekabio commenced AI screening using its proprietary AI platform DeepMatcherTM and supercomputer. The company screened 3,000 approved drugs and identified potential COVID-19 therapeutics.

AI in Drug Discovery Market - Competitive Analysis

The global AI in drug discovery market appears fiercely competitive & fragmented due to the presence of numerous well-established players. To gain a larger competitive advantage in the market, these players incorporate strategic initiatives such as mergers & acquisitions, collaborations, technology launch, and expansion. Also, AI drug discovery companies make substantial investments to R&D and drive clinical studies.

Major Players:

Players leading the global AI in drug discovery market include Microsoft Corporation, IBM Corporation, Alphabet Inc., Atomwise, Inc., Deep Genomics, Cloud Pharmaceuticals, Inc., Insilico Medicine, BenevolentAI, Exscientia, Cyclica, Bioage, Numerate, Numedii, Inc., Envisagenics, Twoxar, Incorporated, Owkin, Inc., Xtalpi, Inc., Verge Genomics, and Berg LLC, among others.

About Market Research Future:

Contact:

Akash Anand

Market Research Future

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Email: sales@marketresearchfuture.com

Industry Analysis Reports | Health Care | Medical Devices | Pharmaceutical

Labels

Tuesday, 18 August 2020

Global Trends on Cardiac Implant Devices Market- Demand, analysis and Forecast

Trends : Body Contouring Devices and Procedures Market have a wide range of applications in the medical care sector

Covid19 Impact on Neurovascular Devices Market Expected to Grow at 8.8%CAGR by 2023

Covid19 Impact on Microdermabrasion Market is Determined to Grow at a CAGR of 3.4%by 2023

Monday, 17 August 2020

Global Emergency Department Information System Market Growing at a CAGR of 15.10% By Market Growth, Trends, Absolute Opportunity and Value Chain 2018 to 2023

Covid19 Impact on Diagnostic imaging Market Value Chain, Factor Analysis, Region and Forecasts Till 2023

AI in Drug Discovery Market highly promising expected to witness a notable CAGR of 40.8% By 2025

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