Global Trends on Bioanalytical Testing Services Market

Market Analysis

The global bioanalytical testing services market is likely to touch USD 1,867.30 million at a 12.95% CAGR between 2018-2023, as per the recent Market Research Future (MRFR) report. Bioanalytical tests are utilized in the commercialization of drugs, drug development, and drug discovery.

Numerous factors are adding to the global bioanalytical testing services market growth. These factors, according to the recent Market Research Future report, comprise the rising prevalence of chronic diseases, especially cancer that needs blockbuster drugs, outsourcing of testing services to CROs in developing economies for curtailing operational expenditure costs, patent expiry of certain drugs, and rising development of biologics. 

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On the contrary, high drug discovery costs may hamper the bioanalytical testing services market growth during the forecast period. 

Market Segmentation

The Market Research Future report provides an inclusive segmental analysis of the global bioanalytical testing services market based on test type and molecule type. 

By molecule type, the bioanalytical testing services market is segmented into large and small. Of these, the small segment will dominate the market during the forecast period. It is predicted to grow at an 11.94% CAGR for its key benefits against fighting chronic diseases. The large molecules, on the other hand, will grow at a higher CAGR of 14.76% for the development of biologics on large scale. Biologics are a key element in the manufacturing of proteins, vaccines, and others. Testing large molecules will become a lucrative opportunity for the market. 

By tests, the bioanalytical testing services market is segmented into bioequivalence, bioavailability, pharmacodynamics, and pharmacokinetics. Of these, the pharmacodynamics segment will lead the market during the forecast period. It is predicted to touch USD 467.25 million by 2023 as it is capable of determining the drugs’ dose concentration-response relationships. This will be followed by the pharmacokinetics market that is predicted to grow at a 13.96% CAGR. 

Regional Analysis

By region, the global bioanalytical testing services market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the bioanalytical testing services market over the forecast period. Factors adding to the growth of the bioanalytical testing services market in the region include constant technological advances in clinical and preclinical testing phases, rising prevalence of chronic diseases, and the presence of key pharmaceutical manufacturers in the region. It is predicted to touch USD 716.73 million at a 12.39% CAGR by 2023. 

The global bioanalytical testing services market in the APAC region is predicted to grow at the fastest pace over the forecast period for the presence of CROs in China as well as India. India is predicted to be the key destination for the region’s low production cost of drugs. Besides, factors such as huge investments being made by pharmaceutical giants as well as research organizations and developing healthcare infrastructure are also adding to the market growth. It is predicted to touch USD 435.05 million by end of 2023. 

The global bioanalytical testing services market in Europe is predicted to have a notable growth during the forecast period. It is likely to grow at a 12.94% CAGR. 

The global bioanalytical testing services market in the MEA will have a modest growth rate during the forecast period. 

Key Players 

Leading players profiled in the global bioanalytical testing services market report include Intertek Group plc (U.K.), ICON plc (Ireland), Pace Analytical Services, LLC (U.S.), SGS SA (Switzerland), inVentiv Health (U.S.), Charles River Laboratories, Inc. (U.S.), Toxikon (U.S.), Pharmaceutical Product Development (U.S.), Covance, Inc. (U.S.), WuXi AppTec (U.S.), and Laboratory Corporation of America Holdings (U.S.). 

Industry News

February 2020: PharmaFluidics, a leading name in analytical chromatography, has extended its product portfolio into capillary LC. The company’s high-resolution and unique µPAC™ micro-Chip technology will be used in various new markets, including proteomics and metabolomics and bioanalytical testing. 

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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.

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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Artificial Kidney Market Report to Share Key Aspects of the Industry with the details of Influence Factors

 Market Analysis 

The global artificial kidney market is predicted to touch USD 2,795.01 million at a 6.9% CAGR between 2019-2025, reveals the new Market Research Future (MRFR) report. An artificial kidney, simply put, is a portable medical device that allows people in experiencing the assistance of a dialysis anytime and anywhere. It is of two types- wearable artificial kidney and implantable artificial kidney. These devices are lightweight, which depend on highly permeable membranes, new filtering materials, advances in miniaturization, and long-lasting batteries. The month of March is declared as the National Kidney Month by the National Institutes of Health to increase awareness about chronic kidney diseases. 

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Various factors are adding to the artificial kidney market growth. These factors, as per the new MRFR report, include growing geriatric population, increasing life expectancy, increasing disposable income, and developments in science and technology. Additional factors adding market growth include awareness campaigns, increasing cases of kidney diseases among Americans owing to surging rates of high blood pressure and diabetes, changing lifestyle, increasing awareness about renal failure diseases, low availability of kidney donors, and increasing R&D for improved dialysis process. 

On the contrary, engineering issues related to devices and problem with the artificial kidney size are factors that may limit the artificial kidney market growth over the forecast period. 

Regional Analysis

Based on region, the global artificial kidney market report covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the Americas will command the largest share in the market over the forecast period. Factors propelling the global artificial kidney market in the region include increasing prevalence of chronic kidney diseases, increasing R&D by public and private organizations, and the presence of key players. 

The global artificial kidney market in Europe is predicted to hold the second-largest share over the forecast period for the growing geriatric population and increasing technological advances in technology and medicine. 

The global artificial kidney market in the Asia Pacific region is predicted to grow at a fast pace over the forecast period. Factors propelling the global artificial kidney market in the region include increasing prevalence of kidney diseases, increasing opportunities for key players for investing in the region, rising investments by government bodies, rising disposable income, and increasing prevalence of renal failure. 

The global artificial kidney market in the Middle East and Africa is predicted to have the lowest share over the forecast period for increasing awareness among patients regarding the different benefits of artificial kidney coupled with untapped markets. 

Key Players

Eminent players profiled in the global artificial kidney market report include Asahi Kasei Medical Vo., Ltd, Triomed AB. (Sweden), AWAK Technologies Pte.Ltd (Singapore), Blood Purification Technologies Inc., and Kawasumi Laboratories, Inc (Japan). Industry players have used strategies such as mergers and acquisitions, new product launch, joint ventures, contracts, extensive R&D, partnerships, strategic alliances, collaborations, and others to create a niche in the market as well as cater to the burgeoning needs of the customers. 

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Market Segmentation

The Market Research Future Report provides an inclusive segmental analysis of the global artificial kidney market based on dialysis and type. 

By type, the artificial kidney market is segmented into the implantable artificial kidney and wearable artificial kidney. Of these, the wearable artificial kidney segment will lead the market over the forecast period for the technical benefits of artificial organs and rising cases of renal failure. 

 By dialysis, the artificial kidney market is segmented into peritoneal dialysis, hemodialysis, and combination. Of these, hemodialysis will dominate the market over the forecast period for the increasing number of hemodialysis procedures. 

 Read More Report :

Coronary Angiography Devices Market research Report – Forecast to 2023: https://www.marketresearchfuture.com/reports/coronary-angiography-devices-market-6151 

Global AI in Drug Discovery Market Research Report—Forecast till 2025 : https://www.marketresearchfuture.com/reports/ai-drug-discovery-market-9393 

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Covid19 Impact on Baby Monitors market is Anticipated to Grow US$ 213.84 Billion in 2025

 Global Advanced Baby Monitors Market: Information by Product (Stationary and Wearable), by End User (Home Care and Day Care) and by Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2025

Global Advanced Baby Monitors Market Overview

Baby monitors are used to remotely monitor the movements of the baby, usually when the infant is far away or out of sight of the parent. Baby monitors simply the process of tracking the baby’s movement. With a rise in the shift towards the adoption of nuclear family system, this device comes in handy for single and working parents. This, in turn, is contributing to the ascension of the global advanced baby monitors market over the forecast period. 

According to Market Research Future (MRFR) in their latest report, the global advanced baby monitors market is expected to upscale at a 9.2% CAGR through the forecast period of 2018-2025. Different factors contributing to this ascension include the introduction of advanced baby monitors, rapid urbanization, a mounting number of nuclear families, and elevating levels of disposable income. These advanced baby monitors now include video monitoring as well as the provision of healthcare-related support such as heartrate monitoring and body temperature monitoring. Because of these extensive features on advanced baby monitors, the market is witnessing fast-paced adoption of the product in urban areas. Furthermore, easier connectivity and portability of them are promoting higher usage and shift towards advanced baby monitors, driving the global market.

Market Segmentation

The global baby monitors market size is studied by Market Research Future (MRFR) for different types of products and the end-users of these advanced baby monitors. Different types of baby monitors included in the extensive study are stationary baby monitors and wearable baby monitors. At the beginning of the forecast period, the stationary baby monitors held 80% of the share in the global advanced baby monitors market. The demand and adoption of stationary baby monitors are anticipated to register a 9.09% CAGR and cross the revenue valuation of USD 1491.85 million by the end of 2025. On the other hand, the wearable baby monitors are also exhibiting a high level of demand, witnessing a 9.61% CAGR through the forecast period. 

Advanced baby monitors are highly used for home care and daycare. In the base year, around 87% of total baby monitors were used for home care and are anticipated to scale valuation of USD 1660.94 million by the end of the assessment period. The adoption of baby monitors for home care is likely to upscale at 9.39% by 2025.

Detailed Regional Analysis

The global advanced baby monitors market is regionally segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas are expected to yield the highest percentage of total revenue in the global advanced baby monitors market over the forecast period. The region also dominated the market at the beginning of the forecast period, accounting for 48% of the total share. Also, the presence of various market giants in the region is likely to push exponential growth to the regional market, upscaling it at 9.42% CAGR by 2025.

Europe is expected to reach a market valuation of USD 603.38 million by the end of the review period, with a 9.31% CAGR through the forecast period. Fast-Paced growth in the e-commerce industry of the region is likely to drive the regional market for advanced baby monitors. 

Asia Pacific is projected to showcase the most accelerated growth rate during the assessment period and is likely to exhibit a 9.54% CAGR by 2025. Attributable factors include the fast-paced economic growth in India and China and a rising disposable income, along with proliferated growth in the literacy rate. 

Key Players

The global advanced baby monitors market is highly influenced by the strategies undertaken by various market vendors. These market vendors include Angelcare (Canada), The First Years, Inc. (U.S.), Mayborn Group (U.K.), Samsung Electronics Co. Ltd. (South Korea), Lorex Technology Inc. (Canada), Summer Infant, Inc. (U.S.), MonDevices (U.S.), Snuza International (South Africa), Owlet Baby Care (U.S.), MOTOROLA HOME (U.S.), Graco Children's Products, Inc. (U.S.), Safety 1st (U.S.), and Koninklijke Philips N.V. (Netherlands).

Industry Update

February 2019: BT recently announced the launch of Smart Baby Monitor, which is the UK’s first voice-controlled smart baby monitor, which can be controlled using Alexa and Google Assistant. 

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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.

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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Covid19 Impact on Aromatherapy Market Overview, Industry News, Development Opportunities & Challenges – 2018- 2023

 

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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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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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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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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Arachnoid Cysts Market Trends, Research Report and Regional Forecast till 2023

Global Arachnoid Cysts Research Report: By Type (Intracranial & Spinal), by Diagnosis (CT Scan, MRI Scan, Prenatal Ultrasound, Other Tests), by Treatment (Permanent Drainage System Surgery, Fenestration, Endoscopic Cyst Fenestration)—Forecast till 2023

Market Highlights

Arachnoid cysts are cerebrospinal fluid-filled sacs that are positioned between the brain or spinal cord and the arachnoid membrane. Arachnoid membrane is one of the three membranes that shields the brain and spinal cord. Increasing cases of brain abnormalities at the time of birth, rising prevalence of meningitis & tumors is driving the growth of the market. According to a study published by the National Meningitis Association, in December 2014, about 600 to 1000 people in the US suffer from meningococcal diseases every year. Additionally, the rising cases of rare diseases in children are likely to boost the market growth. On the other hand, lack of knowledge of the disease and risky brain surgeries may hinder the growth of the market during the forecast period.

The global Arachnoid Cysts Market is currently dominated by many market players. The key players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, in October 2014, Sophysa announced its collaboration with Solvay’s Solviva Biomaterials for using its Evivapolysulfone (PSU) resin to manufacture Sophysa’s implantable brain shunt valves, which are used for permanent drainage system surgery.

Regional Analysis

The market in the Americas is expected to dominate the global arachnoid cysts market during the forecast period owing to the rising cases of meningitis and technological advancements in medical devices to diagnose diseases. According to a study published by the National Meningitis Association, in December 2014, out of all the people that are diagnosed with meningococcal diseases in the US, 10 to 15% people die. The European market is expected to be the second-largest due to rising number of brain & spinal surgeries resulting in complications which can lead to arachnoid cysts and rising healthcare expenditure in the region. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to raising awareness of meningitis & complications arising due to brain injuries and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global arachnoid cysts market. The market growth in this region can be attributed to the rising government initiatives for improving the healthcare industry.

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Segmentation

The global arachnoid cysts market has been segmented into type, diagnosis, and treatment.

The market, on the basis of type, has been segmented into, intracranial and spinal.

The market, by diagnosis, has been segmented into, CT scan, MRI scan, prenatal ultrasound, and other tests.

The market, by treatment, has been segmented into, permanent drainage system surgery, fenestration, and endoscopic cyst fenestration. Endoscopic cyst fenestration is expected to have the largest market share owing to its preference among the surgeons and also its high efficiency. Permanent drainage system surgery is anticipated to be the fastest growing market due to its long-term effects and its ability to not bringing the symptoms again.

Key Players

Some of the key players in the global arachnoid cysts market are Spiegelberg GmbH & Co. KG ., Sophysa, Aesculap, Inc., DePuy Synthes, Medtronic, Integra LifeSciences, Christoph Miethke GmbH & Co. KG, Tokibo Co. Ltd., Boston Neurosciences, Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, Hitachi Medical Systems Europe, Siemens Healthcare Private Limited and FUJIFILM SonoSite, Inc.

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

3.3 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

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power Of Suppliers

5.1.2 Bargaining Power Of Buyers

5.1.3 Threat Of New Entrants

5.1.4 Threat Of Substitutes

5.1.5 Intensity Of Rivalry

5.2 Value Chain Analysis

5.3 Investment Feasibility Analysis

5.4 Pricing Analysis

 

Chapter 6. Global Arachnoid Cysts Market, By Type

6.1 Introduction

6.2 Intracranial

….

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.

 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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News: AI in Drug Discovery Market share, Trends and Demand

 Global AI in Drug Discovery Market Research Report, By Product Type (Software, Services), Molecule Type (Large Molecule, Small Molecule), Technology (Machine Learning, Deep Learning and others), Indication (Immune-Oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases and others), Application (Target Identification, Candidate Screening, De novo Drug Designing, Drug Optimization and Repurposing and Preclinical Testing), End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations and Research Centers and Academic & Government Institutes), Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast 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 applications in drug discovery Market Share. 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.  

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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.

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:

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Global Spirometry Market Trends and Demand

 Global Spirometry Market Share Research Report, by Product (Table-top Spirometry, Hand-held Spirometry, Desktop Spirometry), by Technology (PFM, Volume Measurement Spirometry, Flow Measurement Spirometry), by Application (Diagnostic, Treatment Monitoring), by End-user (Hospitals & Clinics, Home Care, Diagnostic Centers, Research & Academic Institutes), and Region - Forecast to 2023

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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.

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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 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.

Contact:

Akash Anand

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com