Industry Analysis Reports | Health Care | Medical Devices

Tuesday, 27 October 2020

Global Demand Of Covid19 Impact On Body Contouring Devices and Procedures Market

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

You Can also read Here!! https://www.medgadget.com/2019/09/body-contouring-device-market-analysis-by-global-industry-size-share-trends-growth-report-competitive-landscape-and-regional-forecast-to-2023.html

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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.

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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.

Global Blood Screening 2019 Research – Industry Study, Growth, Size, Share, Trends, Forecast to 2023

The global blood screening market is a continually growing space. The market growth attributes to the rising blood screening procedures conducted for the diagnosis of various chronic diseases such as HIV, HCV, HBV, malaria, syphilis, and other infectious diseases. Besides, increasing screening tests conducted on the donated blood to lessen the risk of transfusion-transmitted infections (TTIs) foster the market growth excellently. Moreover, raising awareness about the importance of blood tests escalates market growth.

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According to Market Research Future (MRFR), the global blood screening market is estimated to grow at 9.8% CAGR during the forecast period (2018–2023). Due to the complexity of Coronaviruses, numbers of blood screening tests are increasing. Besides, the immune biomarker test used in the treatment of COVID 19 to identify and quantify the human immune system’s response to the virus influence the growth of the market. Also, increasing numbers of blood donations and blood donors is a significant growth driver of the market.

Additionally, increasing per capita healthcare expenditures and the adoption of nucleic acid test (NAT) for blood screening, boost the growth of the market. The introduction of pathogen reduction technology and the demand of multiplex tests propel the market growth. Conversely, factors such as the high costs and lack of regulations for NAT devices are estimated to restrict the growth of the market. Also, the advent of alternative technologies limits the market growth.

Global Blood Screening Market – Segments

The report is segmented into four dynamics;

By Technology : Nucleic Acid Amplification Test (NAT), Enzyme-Linked Immunosorbent Assay (ELISA), Rapid Tests, Next-Generation Sequencing (NGS), Western Blotting, among others.

By Product and Services: Reagent and kits, Enzymes & Polymerases, Standards & Controls, Probes & Primers, Buffers, Nucleotides, Solutions, Immunosorbents, Instruments, Rental Purchase, Software & services, and others.

By End-Users : Hospitals, Clinics, Research Institutes & Academic Centers, Blood Banks, and others.

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

Global Blood Screening Market – Regional Analysis

North America dominates the global blood screening market. Market growth attributes to the early adoption of advanced medical technologies and continuous development by companies operating into drugs. Besides, factors such as large numbers of industry players and well-developed healthcare sectors in the region boost market growth.

Moreover, the increasing occurrence of chronic diseases and the high per capita healthcare expenditures propel the regional market growth. The North American blood screening market is projected to retain its dominance over the global market throughout the assessment period.

Europe stands second in the global blood screening market. The market is driven by the rise in research expenses and the advancement of technology. Moreover, factors such as increasing health concerns and the demand for innovative and effective therapies boost the regional market growth. In Europe, the blood screening market is growing due to the well-spread awareness for blood screening tests and initiatives undertaken by private and public organizations.

Also, the growing prevalence of various hematological disorders and chronic diseases pushes regional market growth. Furthermore, the presence of prominent market players in the region impacts market growth positively. The European blood screening market is estimated to create a substantial revenue pocket during the forecast period.

The Asia pacific blood screening market has emerged as a promising market, globally. Factors such as the increasing number of blood transfusion procedures, increasing government initiatives, and technological advances drive the regional market growth. Moreover, the rising adoption rate of blood screening tests and increasing healthcare expenditure of demographics foster the growth of the market. China and India are hotspots for investment opportunities due to the growing numbers of diagnosis, treatment, and research activities, healthcare modernization, and quality improvisations.

Global Blood Screening Market – Competitive Analysis

Fiercely competitive, the blood screening market appears fragmented due to the presence of several well-established players. Through the strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product & technology launch, these players try to gain a larger competitive share in the market.

Major Players:

Players leading the global blood screening market are F. Hoffmann-La Roche, Grifols, Abbott Laboratories, Bio-Rad Laboratories, Inc., Biomérieux, Siemens Healthineers (A Subsidiary of Siemens AG), Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, Inc., Beckman Coulter (A Subsidiary of Danaher Corporation), and Becton, Dickinson, and Company, among others.

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Industry, Innovation & Related News

Jun 15, 2020 ---- Cambridge Bioscience, a biotechnology company, announced filling a new patent for the company’s innovative FSIF (Full Spectrum Interferon Fingerprint) COVID-19 test. While the technology behind this newly filed patent will serve as an accurate diagnostic for COVID-19, its real value is the ability to stratify patients into degrees of disease severity, as noted in the pictured grid.

Jun 10, 2020 ---- Arkansas Blood Institute, a state governed blood center in the US state, announced free COVID-19 antibody tests for all blood donors. Arkansas Blood Institute is first to offer COVID-19 antibody screening service to donors. The testing initiative is provided at all donor centers and mobile blood drives. This comes in the wake of an immediate need for blood donations due to an unprecedented number of blood drive cancellations.

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:

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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Behavioral Health Services Market Astonishing Growth| Behavioral Health Services

The global behavioral health services market is expected to rise at a strong 3.4% CAGR over the forecast period from 2018 to 2025, according to the latest research report from Market Research Future (MRFR). The global behavioral health services market is profiled in great detail in the report, including an analysis of the market’s historical growth trajectory and projections regarding the market’s growth over the forecast period. A detailed analysis of the global behavioral health services market’s major drivers and restraints is also provided in the report. Leading factors having a lasting impact on the market are studied in the report, providing readers with a comprehensive overview of the market.

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Behavioral health services comprise health services related to behavioral and psychological issues such as anxiety disorders, depression, PTSD, and substance abuse. The increasing awareness regarding such issues is the major driver for the global behavioral health services market. Behavioral health problems constitute a major part of the health problems affecting people around the world, but historically such issues have been studied vaguely, leading to ineffective treatments and general lack of knowledge about the conditions. Psychological health has been one of the most under-studied parts of the healthcare system, leading to a general lack of awareness about these diseases. However, in recent years, awareness about psychological health issues has grown, leading to increasing innovations in the treatment of the same. This is likely to remain a major driver for the global behavioral health services market over the forecast period.

On the other hand, while awareness about behavioral disorders has grown in North America and Europe, areas such as Asia Pacific, Latin America, and the Middle East and Africa still remain in the dark about these conditions, leading to a lack of awareness in these regions. This is likely to hold back the global behavioral health services market in developing regions over the forecast period.

Competitive Analysis:

Leading players in the global behavioral health services market include Acadia Healthcare, National Mentor Holdings Inc., Behavioral Health Services Inc., The Mentor Network, Universal Health Services Inc., Behavioral Health Network Inc., Caretech Holdings plc, Strategic Behavioral Health, and North Range Behavioral Health.

Segmentation:

The global behavioral health services market is segmented on the basis of service type, disorder type, end use, and region.

BY service type, the global behavioral health services market is segmented into inpatient hospital treatment, outpatient counseling, home-based treatment services, emergency mental health services, and others. The inpatient hospital treatment segment holds the largest share in the global behavioral health services market and is likely to remain the leading revenue generator over the forecast period. Inpatient hospital treatment comprises of the treatment of patients admitted to hospitals and mental health institutions. The increasing awareness about psychiatric disorders has led to a growing adoption of hospitalization in order to treat these disorders. This is the major driver for the inpatient hospital treatment segment.

By disorder type, the global behavioral health services market is segmented into anxiety disorders, bipolar disorders, depression, eating disorders, post-traumatic stress disorder (PTSD), substance abuse disorder, and others. Anxiety disorders hold the largest share in the global behavioral health services market and are likely to remain in the leading position over the forecast period.

By end user, the market is segmented into providers, patients, and others. The providers segment holds the largest share in the global behavioral health services market.

Regional Analysis:

The Americas, led by North America, the U.S. in particular, dominate the global behavioral health services market and are likely to remain the leading regional segment of the global market over the forecast period. Widespread awareness about mental disorders in North America is the major driver for the behavioral health services market in the region. The growing prevalence of behavioral disorders such as anxiety disorders and depression in North America is also a major driver for the global behavioral health services market.

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Report: Retinal Implants Market Size, Share and Regional Demand

Retinal implants have proven its mettle as a breakthrough therapy in the treatment of visual impairment. The global retinal implants market is perceived to be growing at a recurring rate and is expected to reach high revenue figures in the coming years, as per the analysis of Market Research Future (MRFR). The global retinal implant market has been flourishing on account of the widespread prevalence of eye disorders across the globe. Growing cases of retinal disorders have induced high demand for retinal implants since they aid in the restoration of vision. Retinal implants have demonstrated significance for application in eye disorders which were once far-off impossible to achieve. The fact that these devices can be implanted with minimally invasive procedures has added to its popularity and driven the market. The rise in geriatric population is a crucial factor driving the growth of the retinal implant market. Owing to various health insufficiencies, the aging population is more susceptible to acquiring visual impairment and require Retinal implant Market.

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Substantial investment in R&D activities by various medical device manufacturers and governments have led to the development of advanced retinal implants which can be successfully implanted in patients. Extensive clinical trial activities have also contributed to the growth of the market. Few retinal implants have already cleared clinical trials, and many more are underway which is expected to spur the market in the future. In addition, the rise in a number of FDA approvals has been a plus for the growth of the global retinal implants market.

A large number of retinal implants are due for approval and patent from various regulatory authorities, the market stores opportunities for expansion. Also, expected expansion in reimbursement coverage for retinal implants is also expected to augment the market in the coming years. Other driving factors include the rise in the prevalence of degenerative diseases and raising awareness regarding the availability of the device which raises adoption. However, lack of skilled medical professionals with adequate knowledge of performing surgery and stringent and complex FDA approval process remains a significant hurdle for the growth of the global retinal implants market. High costs associated with retinal implants, the risk of biocompatibility and unknown long-term efficacy of the product are also expected to hinder adoption.

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Regional Analysis

North America, Europe, Asia Pacific, and the Rest of the World are the key markets for retinal implants. North America accounts for a substantial share of the global market. Higher availability of the product, improving reimbursement scenario and higher affordability in the region supports the growth of the North America market for retinal implants. Presence of highly skilled surgeons to perform immensely complex surgical procedure also accelerates adoption in the region.

In Europe, the market is driven by an increase in R&D activities and the expansion of clinical trials.

Presence of developing countries such as India, China, and Japan, who outlay massive amounts on healthcare expenditure, coupled with growing disposable income and affordability supports the growth of the market in Asia Pacific.

Rest of the World market is expected to fare well in the coming years since various market players are foraying into the untapped regions to leverage the potential they offer for market expansion.

Segmentation

The global retinal implants market has been segmented into device type, disease indication, and end user. By device type, the market has been segmented into retina implant alpha AMS, Argus II, implantable miniature telescope, and others. By disease indication, the market has been segmented into age-related macular degeneration (AMD) and retinitis pigmentosa. By end user, the market has been segmented into multi-specialty hospitals, ophthalmic clinics, and research institutes.

Competitive Landscape

Second Sight Medical Products, Inc.; Retina Implant AG, VisionCare, Inc., Bionic Vision Australia (BVA), Bionic Eye Technologies, Inc., and Visus Technology, Inc. are the key players operating in the global retinal implants market.

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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.

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Non-Alcoholic Steatohepatitis Biomarkers Market to Witness Rise at 20.92% CAGR between 2018 and 2024

Non-Alcoholic Steatohepatitis Biomarkers Market Industry Landscape

The arrival of the novel Coronavirus pandemic is anticipated to create significant roadblocks for companies working in the current non-alcoholic steatohepatitis (NASH) biomarkers market. But at the same time and according to the latest study conducted by Market Research Future, global non-alcoholic steatohepatitis (NASH) biomarkers market is expected to grow at a staggering CAGR of ~20.92% in the course of period 2016–2024. Also, during this course of growth, the market would be achieving revenue of USD 1,960.4 million with ongoing rising healthcare industry activities and importance.

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(***MRFR FREE SAMPLE COPY of the Report Gives a Brief Introduction to the Research Report, Industry Insight, Size and Forecast, Drivers, Challenges, Trends, Including COVID19 Impact Analysis, Full TOC (123 pages with 143 data tables and 34 figures of the report), an Analysis of the Industry Key Players and comprising Key Regions.***)

Non-Alcoholic Steatohepatitis Biomarkers Market Growth & Attributes

Non-alcoholic steatohepatitis is a superior stage of non-alcoholic fatty liver disease (NAFLD), which arises mainly during the excess fat accumulation and causes inflammation and damage, leading to liver scarring. A biomarker is the most useful diagnostic tool for measuring the biological state and is termed as a pointer for measuring normal biological processes and pathogenic processes in the body. Biomarker tools accessible for diagnosing NASH conditions are known as non-invasive tools, and few of them are biomarker panels, serum biomarkers, imaging biomarkers, fibrosis biomarkers, and others. The rise in research & development is likely to offer promising biomarkers for the accurate diagnosis of NASH condition in the future.

The global non-alcoholic steatohepatitis biomarkers market is driven by the surge in prevalence of NAFLD & NASH disease, hefty unmet needs in terms of disease epidemiology and available diagnostic and therapeutic tools, mount in demand for non-invasive diagnostic methods, rise in geriatric population, upward incidences of obesity and type 2 diabetes, awareness about diagnostic tools as well as the inclination of government focus toward proposing better healthcare services. These factors are probable to propel the non-alcoholic steatohepatitis (NASH) biomarkers market across the globe at a higher note in the precise timeframe.

The adoption of conventional techniques to address non-alcoholic steatohepatitis biomarkers such as biopsy is steadily declining owing to limitations such as sampling bias, and complications such as mortality, bleeding, pain, and poor acceptability. The demand for non-invasive techniques to treat NAFLD has observed steady growth over the past decade. Non-invasive techniques that have gained noteworthy popularity to combat NAFLD include NAFLD-based fibrosis, NASH, and steatosis, and more. In fact, the surge in demand for these non-invasive techniques is probable to boost the demand for NASH biomarkers during the assessment period.

At the same time, in recent times, many significant players operating in the global NASH biomarkers are progressively investigating the algorithms that consist of non-imaging and imaging biomarkers to identify fibrosis and minimize biopsies in clinical settings. Technological advancements, research, and development activities coupled with an elevated prevalence of NAFLD are some of the foremost factors that are likely to drive the expansion of the non-alcoholic steatohepatitis (NASH) biomarkers market during the assessment period.

Non-Alcoholic Steatohepatitis Biomarkers Market Segment Review

The global non-alcoholic steatohepatitis biomarkers market has been studied under the segments of type and end-user.

Depending on the type segment, the market included hepatic fibrosis biomarkers, serum biomarkers, oxidative stress biomarkers, apoptosis biomarkers, and others.

Depending on the end-user segment, the market included research institutes and academics, pharmaceutical companies and CROs, diagnostic centers, hospitals & clinics, and others. The pharmaceutical companies and CROs segment grabbed a market value of USD 226.7 million in 2018.

Non-Alcoholic Steatohepatitis Biomarkers Market Regional Aspect

Regionally, the global non-alcoholic steatohepatitis (NASH) biomarkers market has been studied among the regions of Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. North America led the global non-alcoholic steatohepatitis (NASH) biomarkers market in 2018 and now has acquired a significant share of the global non-alcoholic steatohepatitis (NASH) biomarkers market. The growth has been attributed to the hefty patient pool suffering from NASH and NAFLD indication, along with escalating liver diseases. In fact, a considerable rise in prevalence of obesity and Type 2 diabetes, a rise in demand for a non-invasive diagnostic tool such as biomarkers as well as the adoption of emerging and innovative biomarkers are few major attributable factors for the NASH biomarkers market growth in the forecast period.

Non-Alcoholic Steatohepatitis Biomarkers Market Vendor Landscape

The prime vendors operating in the global non-alcoholic steatohepatitis (NASH) biomarkers market include Echosens (France), Cisbio (France), GENFIT (France), Enterome (France), NGM Biopharmaceuticals (US), Laboratory Corporation of America Holdings (US), Pacific Biomarkers (US), One Way Liver, SL (Spain), Perspectrum Diagnostics Ltd (UK), Regulus Therapeutics, Inc. (US), Quest Diagnostics, Shenzhen New Industries Biomedical Engineering Co., Ltd (China), Siemens Healthineers (Germany), and Xeptagen SpA (Italy).

April 2020: Sequoia-backed in-vitro diagnosis focused biomedicine company Shenzhen New Industries Biomedical Engineering Co., Ltd (also known as Snibe) has kicked off its IPO subscription exercise. It targeted to raise 1.29 billion yuan ($183 million) on the ChiNext board of the Shenzhen Stock Exchange.

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.

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Diabetes Monitor Market- Global Trends, Growth Factors and Research Report

Diabetes Monitor Market Overview:

The global market report on the diabetes monitor market has been studied on the basis of several factors and connections with the end users. The market is projected to reach USD 17458.1 million by 2023 and during the forecast period of 2018 to 2023, it will reach a CAGR of 8.3%. Market Research Future (MRFR) discussed factors like the rising diabetes cases, changing lifestyles due to the rapid urbanization, the inclusion of top-class technologies, and others. Obesity is also expected to trigger better growth for the global market.

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Diabetes Monitor Market Segmentation:

MRFR experts have studied the global market report on diabetes monitors with proper emphasis on segments like type, sample, component, and end-users. The report contains data backed by charts, graphs, and volume and valuation figures among other influencers, which can help in devising better strategies in the coming days.

By sample, the report on the global diabetes monitors market has been segmented into sweat samples, blood samples, urine samples, and others. The blood sample segment gets ample traction from the market. It covers 75.70% of the total market share and can proceed further at an 8.6% CAGR during the forecast period.

By type, the discussion of the market includes continuous glucose monitors, point sample test based glucose monitors, and enzyme-free sensor-based glucose monitors. The continuous glucose monitors segment encompasses disposable sensor-based CGM, and re-usable sensor based CGM.

By components, the report on the global diabetes monitor market includes glucose test strips, lancet, and sensors. The sensors cover segments like enzyme-based sensors, and enzyme-free sensors.

By end -users, the report on the global market has been segmented into hospitals, diagnostic clinics, and home. The home segment is getting backed by rising disposable income and development in devices.

Diabetes Monitor Market Regional Analysis:

The Americas has the largest market share and is slated to grow and surpass a valuation of USD 6623.4 million by 2023. Asia Pacific would be the fastest-growing region and it would achieve a CAGR of 8.9% during the forecast period. Europe would garner substantial valuation during the forecast period.

Diabetes Monitor Market Competitive Landscape:

Dexcom, Inc., Sanofi, Panasonic, Abbott Laboratories, Medtronic, LifeScan, Inc., F. Hoffmann-La Roche Ltd, and others are some of the major companies delving deep into the global diabetes monitor market by using their strategies. These companies bank on methods like tie-ups, innovations, product launches, mergers, branding, acquisitions, research and development, and others. MRFR’s attempt to record all the latest moves is expected to facilitate understanding global market growth and trends.

Industry News:

In June 2020, DarioHealth Corp., a company from New York is a device that monitors glucose levels in the blood, announced that the company had developed two new papers on how people have benefited from their digital device and it also mentioned the improvement level of blood sugar level and blood pressure. The device was developed in Israel and it provides regular updates to its users and helps them manage their glucose level on the go.

In June 2020, Nemaura Medical Inc announced that it has applied for a Premarket Approval (PMA) from the US Food and Drug Administration for its new product sugarBEAT continuous glucose monitor. These will be a proper supplement for the finger pricking testing pattern.

The COVID-19 crisis is expected to play a crucial role in taking the global market ahead. This is due to the deep connection between disease and diabetes. Patients with high-diabetes are susceptible to these diseases and their chances of recovery are less than normal patients.

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AI in drug discovery Market is Projected to Grow at a High CAGR till 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.

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.

Industry Analysis Reports | Health Care | Medical Devices | Pharmaceutical

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