Tuesday, 8 December 2020

Aromatherapy Market 2020- news, Key Trends, Demand and Forecast

The global aromatherapy market is expected to exhibit a solid 6.18% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global aromatherapy market is expected to reach USD 4.3 billion by 2023, according to the MRFR report. The global aromatherapy market is profiled in great detail in the research report, providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the aromatherapy market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the aromatherapy market’s growth trajectory over the forecast period are provided in the report. The leading players in the global aromatherapy market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global aromatherapy market. The major drivers and restraints affecting the global aromatherapy market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.

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Aromatherapy comprises the use of aromatic oils and other aromatic compounds for enhancing the psychological and physical well-being of the patient. It is a traditional form of medicine and is still widely practiced around the world for various complaints such as sleeplessness and stress. The growing prevalence of lifestyle conditions such as insomnia and stress is likely to be a major driver for the global aromatherapy market over the forecast period. Essential oils used in aromatherapy are also effective in curing the common cold and other breathing disorders. This is also likely to be a major driver for the global aromatherapy market due to the growing prevalence of breathing disorders due to the growing prevalence of pollution around the world.

On the other hand, the lack of universal guidelines for aromatherapy is likely to be a key restraint on the global aromatherapy market. Some products used in aromatherapy may have adverse effects if used in excess. For example, cineole essential oil is poisonous in excess and can cause various disorders such as nausea, vomiting, muscular weakness, and rapid heartbeat, among others. Aromatherapy also suffers from the lack of medical evidence to back up its use. This is also a key restraint against the global aromatherapy market.

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Competitive Leaderboard:

Leading players in the global aromatherapy market include Neal’s Yard Remedies, NOW Foods, doTERRA, Zija International, Young Living, Tree of Life, Muji, Air Aroma, and Nu Skin.

Segmentation:

The global aromatherapy market is segmented on the basis of essential oil, equipment, application, therapeutic application, and region.

By essential oil, the global aromatherapy market is segmented into floral, citrus, green/vegetative, herbaceous/camphoraceous, spicy, and others.

By equipment, the global aromatherapy market is segmented into nebulizer diffuser, ultrasonic diffuser, and heat diffuser.

By application, the global aromatherapy market is segmented into topical, inhalation, and aerial diffusion.

By therapeutic application, the global aromatherapy market is segmented into relaxation and sleep, pain management, skin and hair care, and others. The skin and hair care segment dominates the global aromatherapy market and is likely to remain the leading revenue generator over the forecast period.

Regional Analysis:

North America is the leading regional market for aromatherapy due to the growing demand for aromatherapy in the U.S. The U.S. is the leading national market for aromatherapy. The growing prevalence of insomnia in the U.S. is likely to be a major driver for the global aromatherapy market over the forecast period.

Europe is also a major regional market for aromatherapy. Asia Pacific is likely to remain the fastest growing regional market for aromatherapy over the forecast period. China and India are likely to be important national markets for aromatherapy over the forecast period.

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Spirometry Market Size Focus On Revolutionary Healthcare Technology | MRFR

Overview:

The global Spirometry Market is witnessing a significant rise in its revenues, mainly due to the rising occurrences of respiratory diseases such as asthma and COPD. Besides, the growing rate of diagnosis processes conducted for the detection of interstitial pulmonary fibrosis fosters the growth of the market. Moreover, the increasing exposure to risk factors and the ever-increasing population is driving a large share of the market.

Market Insights

According to the reports published by Market Research Future Reports, the global Spirometry Market size is probable to exhibit a 10.03% CAGR from 2018 to 2023 and is also on the verge to reach USD 1,106.76 million by 2023. Such a humongous market growth can be attributed to the strident rise in the cases of chronic obstructive pulmonary disorders (COPD) and asthma.

Spirometry is considered as a basic test, which is conducted by clinicians to estimate the status of lungs. It is an essential test for diagnosing asthma, COPD, and other breathing disorders. Thus, spirometers are used to carry out the tests.

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Global Spirometry Market: Drivers & Trends

The factors such as emerging chronic respiratory diseases globally, increasing global aging population, and technological shifts in spirometer devices toward smartphone-based data connectivity and analysis are expected to drive the global spirometry market exponentially during the forecast period. With that, emerging economies with growing industrialization are also contributing to driving the market with opportunities for the future in substantial ways.

More stimulating factors such as government initiatives to restrain smoking habits of people, focus on breathing diseases, rising levels of air pollution, and expanding awareness towards the adoption of spirometers at homes are noticeably auguring the global spirometry market growth. Even awareness of reimbursement policies among the public and clinicians are also projecting to be the drivers for patients towards taking these tests. On the flip side, the high costs of spirometers may act as a restrictive factor against the market and hinder the global spirometry market growth.

Furthermore, the rising geriatric population is also anticipating being the factors for the increase in the demand for spirometers to analyze respiratory patterns. The need for spirometers is also probable in the rise due to a high number of surgeries in hospitals and clinics. These factors are tremendously driving the global spirometry market to rise high at a higher CAGR in the years to come.

Segmental Overview

According to the reports published by MRFR, the global spirometry market has been segmented by product, technology, application, and end-user.

By the mode of products, the market includes table-top spirometry, hand-held spirometry, and desktop (PC) spirometry.

By the mode of technology, the market has been segmented into volume measurement spirometry, peak flow meters (PFM), and flow measurement spirometry.

By the mode of application, the spirometry market is segmented into diagnostic and treatment monitoring.

Moreover, by the mode of end-users, the market includes research & academic institutes, diagnostic centers, hospitals & clinics, and home care.

Regional Outlook

Geographically, the market of spirometry has covered some main regions such as Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

Among these, Asia Pacific is expected to register the highest CAGR for the market to proliferate during the forecast period. Growth of this market in the Asia Pacific region is driven mainly by the large population of the patient and a high prevalence of chronic respiratory diseases.

While North America has the largest market for spirometers owing to technological advancements, government regulations, rise in incidences of respiratory diseases, increasing healthcare expenditure, and improved healthcare infrastructure.

Key Players

In the end, here are the prominent players in the spirometry market, they are Carefusion Corporation (U.S.), NDD Medical Technologies, Inc. (U.S.), Nihon Kohden Corporation (Germany), MGC Diagnostics Corporation (U.S.), Vitalograph (U.K.), Schiller AG (Switzerland), COSMED srl (Italy), Hill-Rom Holdings, Inc. (U.S.), Midmark Corporation (U.S.), Smiths Medical Inc. (U.S.), and Koninklijke Philips N.V. (The Netherlands).

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Lower GI Series Market values, Demand, Technology Trends and Forecast

Market Insights

Market Research Future presents a comprehensive study on the global lower GI series market, stating that the market is going to expand until the year 2023 at a CAGR of 4.6%. This global report sums up by providing the development of lower GI series market and involves driving the factors that boost the market.

A lower GI series is referred to as lower gastrointestinal series or barium enema, which is one of the medical procedures used in the examination and diagnosis of problems related to the human colon or large intestine and rectum. This test also helps in detecting diseases and abnormalities as the symptoms of the problem generated. Due to such importance of lower GI series, many companies are on the verge of investing a significant amount in research & development to introduce more of such efficient method. This factor is taking the global lower GI series market towards positive growth in the years to come, as per the research reports stated.

Global Lower GI Series Market: Drivers & Trends

The global lower GI series market values has seen prospective growth in recent days. Earlier, the diagnosis of diseases in the human colon, large intestine, and rectum was very complex and challenging to diagnose. However, with the invention of a lower GI series test has pushed the healthcare industry to the next level of advancements. Therefore, the factors such as technological advancements, growing disposable income, raising people awareness about the lower GI series test has put a potential scope for the global lower GI series market to expand exponentially and would gain more valuation during the forecast period. The increase in the number of healthcare centers, hospitals, clinics, and laboratories in main regional segments, globally have also driven the global lower GI series market.

On the other hand, the global lower GI series market is also driven majorly owing to the factors such as surging incidence of GI diseases, gastric cancer, and most prominent is changing lifestyle. With that, more factors such as developing technologies, increasing cost-effective methods, and the government’s support for research have also boosted the growth of the global lower GI series market.

On the flip side, some factors such as the availability of alternative therapies are marked to be one of the reasons that could hamper the growth of the market during the assessment period.

Market Segmentation

This MRFR report segments the global lower GI series market into applications, types of tests, and end user.

By the mode of applications, the market has been segmented into gastroenteritis, colon polyps, tumor, strictures crohn's disease, ulcerative colitis, and others.

By the mode of types of test, the market is segmented into double-contrast test and single-contrast test.

By the mode of end users, this market is segmented into hospitals, clinics, and laboratories.

Regional Outlook

Geographically, the global lower GI series market research study segments the global lower GI series market into the regions of America, Europe, Asia Pacific, and the Middle East & Africa.

Among all, the reports tell that America holds a significant share in the global lower GI series market, owing to the enormous investment that is being made in research and development in the healthcare sector as well as its stable economic conditions for research and development. With this, the mounting patient base and geriatric population are also there to boost the growth of the market.

Whereas, Europe is the second largest market after the Asia Pacific on account of increasing technological improvements. The technological enhancements will thereby, result in higher efficiency and accuracy for the diagnosis process.

Moreover, Asia Pacific has recorded to be the fastest growing market owing to the swelling prevalence of contagious diseases in this region. India and China have now started investing in research and development of the healthcare sector, which is expected to boost the global lower GI series market in this region.

Key Players

Here is the list of key players in this market: Eisai (US), Cadila Pharmaceuticals, PeaceHealth, Purdue Pharma L.P., Alfa Wassermann, NOVADAQ, Mount Sinai Beth Israel, AstraZeneca, and Ironwood Pharmaceuticals Inc.

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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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Gallbladder Cancer Therapeutics Market Trends, Research and Growth

Market Insights

Gall bladder diseases afflict a significant number of people on a regular basis. In 2013 more than 100 million people were diagnosed with gallbladder and related diseases which resulted in more than 100,000 deaths. The gall bladder is a vital organ which stores bile produced by the liver and pass it along a duct which then empties into the small intestine. Market Research Future has dedicated valuable resources to the research of the global gall bladder treatment market. Calculation regarding market growth reveals a CAGR of 6.5% during the forecast period between 2017 and 2023. The market is expected to reach an evaluation of USD 27,121.5 Mn by the end of 2023.

The biggest driver of the gall bladder treatment market is the increasing prevalence of gall bladder diseases caused primarily by a sedentary lifestyle and/or poor lifestyle habits. Aggressive alcohol abuse or poor eating habits are likely to trigger gall bladder diseases. The increasing prevalence of gall bladder disease has resulted in increased awareness with regards to gall bladder diseases and treatment and has driven high demand for effective gall bladder treatment. The adoption of advanced diagnostic has also encouraged the demand for advanced treatment options which are minimally invasive. Moreover, the presence of a large and rapidly growing geriatric population is expected to have a significant impact on the market in a positive manner. Emerging economies are prime regions for the expansion of the market, and they display high opportunity for growth during the forecast period.

Despite healthy growth during the forecast period, the complications and pain associated with gall bladder surgery and recovery, combined with the asymptomatic nature of gallstones will likely slow market growth during the assessment period.

Market Segmentation

The global Gallbladder Cancer Therapeutics Market is segmented on the basis of disease indication, diagnosis, treatment, end-users, and region. On the basis of disease indication the global gall bladder treatment market has been segmented into gallbladder polyps, gallbladder cancer, cholecystitis & biliary colic, gall stone, and cholelithiasis & choledocholithiasis. Gallstones make up 24.5% of the total share of the market making the gallstones segment the largest segment.

Diagnosis has been segmented into computerized tomography (CT), ultrasound, blood tests, and cholangiography & hepatobiliary scintigraphy. The ultrasound segment is captured maximum market share. However, the CT segment is projected to witness growth at a CAGR of 7.10% during the review period.

Treatment has been divided between surgery and drugs. Surgery accounts for the most significant share of the market by treatment and is expected to reach a substantial market value by the end of 2023.

End-users include hospitals & gynecology clinics, and academic & research centers.

Regional Analysis

North America has reached the forefront of the global gall bladder treatment market due to the presence of a significant patient population which is afflicted by gall bladder disease. In North America, the U.S holds the largest market share. Developed economies tend to have a higher prevalence of gallbladder diseases. Europe is the second largest regional market for gall bladder treatment. The presence of a developed healthcare sector and high healthcare expenditure has secured Europe its leading market position. Meanwhile, the Asia Pacific is growing in prominence as a regional market in the global market for gall bladder treatment. Awareness regarding gall bladder disease and the increased demand for treatments as well as the presence of a massive patient population is expected to drive the APAC market. APAC is expected to grow at a CAGR of 7.0% during the review period.

Key Players

Dornier MedTech, Boston Scientific Corporation, B. Braun Melsungen AG, Sanofi, Intuitive Surgical, Koninklijke Philips N.V., C. R. Bard, Inc. and others have been identified and included in MRFR's analysis of the competition in the global gall bladder treatment market.

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Type 2 Diabetes Mellitus Treatment Market to witness major growth in coming years

The Global Type 2 Diabetes Mellitus Market is expected to exhibit an upswing and capture a CAGR of 8% over the forecast period of 2017-2023, proclaims Market Research Future (MRFR) in an exhaustive research report. The global market is expanding at a rapid pace due to the increasing burden of type 2 diabetes across the globe. Type 2 diabetes mellitus has been increasing exponentially, and the market has observed a high prevalence rate in both developed and developing countries due to multiple risk factors of diabetes and delayed diagnosis. Development of novel efficient therapies is expected to create a supportive dais for building up the global type 2 diabetes mellitus market. The inefficiency of current therapies and life-threatening complications arising out of type 2 diabetes mellitus has necessitated the development of appropriate preventive measures.

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The government of various countries have initiated awareness programs and are investing heavily in research & development. Moreover, there has been a rise in the number of FDA approvals for new drugs which have also helped the market expand. Other driving factors include an increase in healthcare expenditure on a global scale and a rise in risk factors of type 2 diabetes mellitus. Conversely, the market growth might be hindered by lack of awareness, the high cost of treatment and diagnosis, complex regulatory framework for FDA approvals of therapies, and the side effects of available treatment options.

Segmentation

The global type 2 diabetes mellitus treatment market has been segmented based on treatment and end user. By treatment, the market has been segmented into drug and devices. The drug segment has been further segmented into Insulin, Sensitizers, Sglt-2, Alpha-Glycosidase Inhibitors, Others. The devices segment has been further segmented into Blood Glucose Monitoring, Insulin Delivery Devices. By end user, the market has been segmented into hospitals, clinics, diagnostic centers, drug stores, pharmacies, and others.

Regional Analysis

The global type 2 diabetes mellitus treatment market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas account for the largest share of the global type 2 diabetes mellitus market owing to the presence of a huge patient pool, well-developed healthcare sector, and the presence of leading players in the region. Moreover, due to the rising burden of diabetes mellitus on the healthcare, various companies and governments are endeavoring towards improving diabetes care. Europe is the second largest market for type 2 diabetes mellitus market. Government grants for research & Development coupled with favorable reimbursement scenario drive the market in Europe. Throughout Europe, charges for diagnosis and treatment of type 2 diabetes mellitus are covered under health insurance, especially for pregnant women. Asia Pacific is poised to be the fastest growing market on account of an epidemic increase in diabetes occurrence in the region which induces high demand for treatment and diagnosis. Also, the market is expanding due to substantial investment in the healthcare sector by the governments in the region. The Middle East & Africa market accounts for the least share of the market due to low healthcare penetration and poor medical facilities, especially in the Africa region. The Middle East market is expected to exhibit considerable growth over the forecast period due to improving the healthcare sector in the region.

Competitive Landscape

The notable players operating in the global type 2 diabetes mellitus treatment market include Abbott Laboratories, Adocia, Amgen, Bayer AG, Dickinson and Company, Boehringer Ingelheim, Eli Lilly, Novo Nordisk, Pfizer, Sanofi, Takeda Pharmaceuticals, Acon Laboratories, Inc., Akros Pharma, AstraZeneca, Becton, Biocon, Daiichi Sankyo, Merck, Novartis & Co., Peptron, Roche Diagnostics Ltd., Sunpharma, and others.

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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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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.

NewS: Ligation Devices Market 2020 | Trends| Size| Share and Key Trends to Forecast till 2024

Global Ligation Devices Market Report: By Product (Handheld Instruments, Accessories), Procedure (Minimally Invasive Surgery, Open Surgery), and Application (Gastrointestinal and Abdominal, Gynecological, Urological Applications)—Global Forecast till 2024

Ligation Devices Market Highlights

As per Market Research Future (MRFR) analysis, the global ligation devices market is estimated to register a CAGR of 6.7% from 2019 to 2024 (forecast period).

Ligation devices are used for closing incisions during surgeries or for connecting separate organ/tissue parts. The number of surgeries and laparoscopic procedures has increased in the last few years. According to the 2017 National Health Statistics Reports published by the Centers for Disease Control and Prevention, 48.3 million surgical/non-surgical procedures were performed in the United States in 2010. It is reported that surgeries are often reimbursed, thereby facilitating a wider pool of patients for producers.

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Ligation Devices Market Dynamics

Favorable reimbursement policies, rising health expenditures, and increasing research and development expenditure are expected to boost the market. As per the GI Endoscopy Coding and Reimbursement Guide published by Cook in 2017, procedures such as endoscopic retrograde cholangiopancreatography (ERCP) are covered by CPT code 43261 with an average facility payment of approximately USD 1.134.02.

However, it is projected that factors such as the high cost of surgery and related side effects would hinder the market growth.

Ligation Devices Market Segmentation

The global market for ligation devices has been segmented based on the product, procedure, application, end-user, and region.

Based on product, the global market for ligation devices has been segmented into handheld instruments and accessories.

Based on the procedure, the global market for ligation devices has been segmented into minimally invasive surgery and open surgery.

Based on application, the global market for ligation devices has been segmented into gastrointestinal and abdominal applications, cardiovascular applications, gynecological applications, urological applications, and others.

Based on the end-user, the global market for ligation devices has been segmented into hospitals & clinics, ambulatory surgical center, and others.

Ligation Devices Market Regional Analysis

Regionally, the global ligation devices market has been segmented into the Americas, Asia Pacific, Europe, the Middle East & Africa.

The Americas held the largest market share for ligation devices due to rising health expenditure and the growing prevalence of chronic diseases. As reported by the Centers for Disease Control and Prevention in 2018, coronary heart disease (CHD) has been estimated to be the most common type of heart disease in the U.S. and is expected to cause 370,000 heart disease per year.

Europe held the second position in the global market for ligation devices in 2018. It can be due to growing awareness, government funding, the production of technologically advanced medical devices, and the rising number of surgeries. However, stringent regulation is expected to hinder the growth of the global market for ligation devices over the forecast period.

The Asia Pacific was the fastest-growing region on the global market for ligation devices in 2018. Asia Pacific has an enormous market potential for the market for ligation devices. Factors such as increasing healthcare infrastructure, developing healthcare industries, increasing number of surgeries, and rising medical tourism are driving market growth in the region. Monash University stated that the bariatric surgery burden in Australia was burgeoning in 2015, and roughly 15,000 surgical procedures were carried out in the region in the same year. Moreover, the emergence of developing economies such as India and China are boosting the market.

The Middle East and Africa have had the least market share in the global market for ligation devices. Factors such as the existence of poor economies and low per capita income, particularly in the African region, make the market lag within the region. It is projected that the Middle East holds most of the regional market due to increased government funding in the healthcare sector and the presence of developed economies such as the United Arab Emirates, Saudi Arabia, and others.

Ligation Devices Market Key Players

Some of the significant participants in the global ligation devices market are Medtronic, Johnson & Johnson, Conmed Corporation, Teleflex Incorporated, B. Braun Melsungen AG, Olympus Corporation, Applied Medical Resources Corporation, The Cooper Companies, Inc., Grena Think Medical, Genicon, Inc., and others.

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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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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.

AI in Drug Discovery Market 2020 | Demand | Analysis | Growth 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.

Processing and maintaining of data are the two major fields in smart healthcare systems, and any mistake can lead to disasters, AI reduces the risks of any absurd mistakes, which makes it a useful tool for the field. After observing the AI system's capacities and capabilities, the governments are adopting them for which they have increased the healthcare budgets and will accelerate the market's growth pace. As this is a software-powered system, the companies are regularly and rigorously working towards upgrading the systems with the latest software and solutions.

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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.

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.

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.

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Industry Analysis Reports | Health Care | Medical Devices | Pharmaceutical

Labels

Tuesday, 8 December 2020

Aromatherapy Market 2020- news, Key Trends, Demand and Forecast

Spirometry Market Size Focus On Revolutionary Healthcare Technology | MRFR

Lower GI Series Market values, Demand, Technology Trends and Forecast

Market Insights

Global Lower GI Series Market: Drivers & Trends

Market Segmentation

Regional Outlook

Key Players

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