Market Research Blog – Page 3152 – New Product Development

Deep Learning Market Thrives: Reaches US$ 130,667 Million by 2032, 26.4% CAGR Fueling Growth

The deep learning market is expected to be worth US$ 12,569.0 million globally in 2022 and is projected to increase at a CAGR of 26.4% to US$ 130,667 Million globally from 2022 to 2032. The fast use of cloud-based technologies across several businesses is blamed for the expansion of the deep learning market.

Deep learning neural networks are being used by businesses to mine massive volumes of data for insightful information that can be used to develop new products, enhance consumer experiences, and expand revenue potential for the deep learning market. One of the most cutting-edge technologies in business computing is deep learning, which is growing on a global scale.

During the projected period, the worldwide deep-learning market will expand due to the increasing demand for improved human and system interaction. Deep learning algorithms will help humans become more capable as they provide expert advice. Additionally, deep learning technology is increasingly being used in a variety of industrial sectors, including healthcare, finance, retail, and others. Strong R&D for the development of new products is another element propelling this market.

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The rise of data mining applications in the deep learning market is being driven by the rising need for deep learning in fraud detection, database systems, and cyber security. The patient information, diagnosis, and other data sets produced by the healthcare industries are massive. Data mining is therefore expected to experience the fastest growth rate in the healthcare industry shortly.

Deep Learning Market: Market Dynamics:
The rising necessity for hardware platforms with high computing power to execute deep learning algorithms is a driving factor of the Deep Learning market Increasing complexity in hardware due to the complex algorithm in deep learning technology can hamper the growth of the Deep Learning market. Growing usage of deep learning in data analytics and database systems growth opportunities for the Deep Learning Market.

Global Deep Learning Market: Competition Landscape:
A few prominent players in the Deep Learning market include Google Inc., Microsoft Corporation, Qualcomm Technologies, Inc., IBM Corporation, Intel Corporation, General Vision Inc., and NVIDIA Corporation, etc.

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Deep Learning Market: Regional Outlook:
North America is prominent and holds the largest share of the deep learning market and is estimated to be in the leading position owing to the widespread adoption of deep learning technology. There is high growth in the deep learning market in North America due to the presence of prominent players in the region that offer deep learning services and hardware such as IBM Corporation, Qualcomm Technologies, Inc. Intel Corporation, etc. Latin America and MEA are expected to contribute significantly over the forecast period.

Deep Learning Market Segmentation:

By Product:

Hardware
Software
Services

By Application:

Image Recognition
Signal Recognition
Translation
Data Mining

By End User:

Automotive
Media & Entertainment
Aerospace & Defence
BFSI
Retail
Healthcare

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East & Africa

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Mobile Travel Market Booms: Expected 15.8% Expansion to Reach US$ 1,486.7 Million by 2033 | FMI

The global mobile travel market is worth US$ 343.3 Million as of now and is predicted to reach US$ 1,486.7 Million by the year 2033 at a robust CAGR of 15.8% between 2023 and 2033.

The 21^st century has witnessed an alteration in societal dynamics like never before. With smartphones being an indispensable part of our lives, the travel & tourism sector is slated to witness exponentiation going forward.

The present-day smartphones are abreast with various user-friendly, essential applications enabling travel. Paper maps are a thing of the past. The travellers are more into using mobile devices equipped with GPS; which helps in precise navigation. As such, booking a hotel, trip, or car is comfortable and simple as smartphones let users browse through the information within no time.

The travel agencies are also modifying their marketing communications along with the implementation of technological advancements. Almost all airline businesses and hotels have integrated their services into a smart app for capitalizing on the rapidly expanding travel and tourism sector.

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Lower data charges is one of the factors influencing the mobile travel market. In the last few years, the mobile travel landscape did undergo a major overhaul due to budget-friendly and easy-to-use smartphones.

Mobiles have also helped in apprising people about the tourist destinations unknown till date. Various public and private partners have also come up with tourism promotion activities, which is fostering the mobile travel market. MakeMyTrip has confirmed that a sizable percentage of the flights was booked in the last few years using smartphones.

Those travelling for healthcare and businesses run short of time when it comes to visiting the offices physically to get a booking. As such, the geo-localized mobile applications come to the rescue. They signify tedious and complex processes and render the much-required relief. These apps also help in averting rigid, long registration procedures for reducing efforts and time involved. Another advantage is that of certain apps offering travel insurance along with the tickets. Bulk booking helps in availing discounts as well.

At the same time, the fact that various terrorist attacks have plundered travel and tourism industry at the global scale. The tourists also give a second through regarding these tourist destinations. This factor may restrain the mobile travel market in the years to come. Plus, the likelihood of the apps getting hung on innumerable people trying to access them can’t be ruled out; especially during the festive times. This could go against the mobile travel market as even a bit of delay could cost the user his/her desired ticket.

Future Market Insights has entailed these findings with future prospects in its latest market study entitled ‘Mobile Travel Market’. The team of analysts and consultants is there to execute through its eagle’s eye view across macros and micros.

“Availability of better internet services through smartphones is expected to catalyze the mobile travel market going forward”, says an analyst from Future Market Insights.

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Key Takeaways from Mobile Travel Market

North America holds the largest market share, followed by Europe and the Asia-Pacific. This could be credited to smartphones penetrating the regions at an alarming rate.

Competitive Travel

The key players in the mobile travel market include TUI Group, Elong Inc., AirGorilla, LLC, MakeMyTrip Pvt. Ltd., Hays Travel Ltd., Airbnb Inc., Expedia Inc., Trivago, HomeAway, Cleartrip Pvt. Ltd., KAYAK, Skyscanner Ltd., and likewise.

What does the Report travel through?

The research study is based on age (under 18, 18-25, 26-35, 36-45, 46-55, and over 55), by visit purpose (leisure travel, business travel, education-employment-pilgrimage, and visiting friends & relatives), by demographics (female, male, and kids), by service type (transportation, travel accommodation, and vacation packages), and by tourism type (international and domestic).
With extensive mobile penetration, the global mobile travel market is expected to grow voraciously in the next few years.

Mobile Travel Market by Category

By Age:

Under 18
18-25
26-35
36-45
46-55
Over 55

By Visit Purpose:

Business Travel
Leisure Travel
Education-Employment-Pilgrimage
Visiting Friends & Relatives

By Demographic:

Male
Female
Kids

By Service Type:

Transportation
Travel Accommodation
Vacation Packages

By Tourism Type:

Domestic
International

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Fire Sprinkler System Market Rising to US$ 22,695.8 million by 2033

The fire sprinkler system market is predicted to be worth US$ 12,973.4 million in 2023 and rise to US$ 22,695.8 million by 2033. The global industry was expanding at a CAGR of 5.4% from 2018 to 2022.

The market has gained popularity from the expansion of the residential and commercial construction sectors. This trend is likely to increase demand for fire sprinkler systems. Another factor influencing the fire sprinkler system adoption globally is the creation of stringent criteria for the installation in buildings. This is being worked on by governments from different nations.

The primary issues preventing the industry from expanding are the expensive cost of upgrading fire sprinklers in already-existing structures, and the lack of integrity in system interfaces.

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Profitable Market Opportunity

The products put in the building that are standardized and designed to detect the onset of a fire are the fire protection system. A smoke detector and other devices are used by the system to find and put out the fire. Real-time data is detected and tracked by the fire protection systems. The fire sprinkler system industry is going to see new opportunities through the incorporation of cutting-edge technology like AI and the IoT.

Key Takeaways

By 2033, the fire sprinkler system market in the United Kingdom is likely to expand, with a CAGR of 3.8%.
In 2023, the United States is likely to dominate the fire sprinkler system sector, with a share of 21.8%.
The fire sprinkler system market was significantly expanding, with a size of US$ 12,046.5 million in 2022.
By 2033, the fire sprinkler system industry in China is likely to expand, with a CAGR of 6.5%.
In 2023, Australia projected to expand in the fire sprinkler system business, with an expected share of 1.3%.
The market is expected to grow at a US$ 15,194.04 million valuation by 2026, with rising technologies like smart sensors.
By 2033, India is projected to expand significantly in the fire sprinkler system sector, with a share of 7.1%.
Japan’s fire sprinkler system market share is likely to expand significantly, with a 6.2% share in 2023.
In 2023, the commercial segment is expected to dominate the market with a leading share of 42.1%. It is anticipated to control the market by 2033 in terms of application.
Based on product type, wet fire sprinkler systems are expected to dominate the market with a share of 29% in 2023.

Effective Approaches by Key Players

Manufacturers of fire sprinkler systems strive to build strong distribution networks that can efficiently reach potential clients. To do this, they are collaborating with wholesalers and distributors, who help them market their products and services to customers.

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Recent Developments

For fire sprinkler systems, Johnson Controls produced TYCO corrosion control solutions. The product helps wet and dry fire sprinkler systems last longer. Additionally, it has an in-line detector that monitors the system and transmits corrosion early warning signals.

Plumis Inc., a firm established in the United States, provides the “Automist Smartscan Hydra” smart fire sprinkler system. This system consumes 90% less water than traditional fire sprinkler systems.

Global DNA Methylation Market Poised for Explosive Growth at 15% CAGR by 2033, Rising Cancer Rates and Growing Demand for Personalized Medicine | FMI

The global DNA methylation market is on track for a significant surge, is expected to garner a market value of US$ 1437.5 Million in 2023 and with a projected market size of US$ 5815.49 Million by 2033, reflecting a compound annual growth rate (CAGR) of 15% from 2023. This exponential growth is driven by the increasing prevalence of cancer worldwide and the expanding role of DNA methylation in medical research, diagnostics, and personalized medicine.

DNA methylation is a critical epigenetic process that regulates gene expression. Disruptions in DNA methylation patterns have been linked to various diseases, including cancer, neurological disorders, and autoimmune conditions. As a result, the demand for DNA methylation analysis tools and services is experiencing a steady rise, propelling the DNA methylation industry forward.

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One of the primary factors contributing to the expansion of the DNA Methylation Industry is the growing understanding of the role of DNA methylation in disease development and progression. Researchers and clinicians have recognized the significance of DNA methylation as a potential biomarker for early detection, prognosis, and treatment response prediction. By analyzing the DNA methylation patterns, scientists can gain insights into the molecular mechanisms underlying diseases and develop targeted therapies accordingly.

Moreover, technological advancements have propelled the DNA Methylation Industry forward. High-throughput sequencing technologies, such as next-generation sequencing (NGS), have revolutionized DNA methylation analysis by enabling the simultaneous investigation of the entire genome. These advanced techniques provide researchers with unprecedented resolution and accuracy, allowing them to identify specific DNA methylation changes associated with different diseases. The development of cost-effective and user-friendly DNA methylation analysis platforms has also contributed to the widespread adoption of DNA methylation analysis in both research and clinical settings.

Key Takeaways from the Market Study:

By technology, sequencing is expected to possess 35% market share for DNA Methylation Industry in 2023.
By product, consumables are expected to possess 35% market share for DNA Methylation Industry in 2023.
By application, clinical research is expected to possess 40% market share for DNA Methylation Industry in 2023.
By application, diagnostic segment is anticipated to witness the fastest growth in the coming years with a CAGR of 16%.
By end use, pharmaceutical and biotechnology end-use segment are expected to possess 42% market share for DNA methylation in 2023.
North America is expected to possess 40% market share for DNA Methylation Industry in 2023.
Asia Pacific is expected to possess 38% market share for DNA Methylation Industry in 2023.

“Expenditure on research and development along with government funding is expected to accelerate the growth of DNA Methylation Industry.” comments a Future Market Insights analyst.

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Competitive Landscape:

Some prominent players in the global DNA Methylation Industry include

New England Biolabs
Sysmex Corporation
Abcam plc.
F. Hoffmann-La Roche Ltd.
Diagenode Diagnostics S.A.
Thermo-Fisher Scientific Inc.
Agilent Technologies Inc.
BioRad Laboratories Inc.
Exact Sciences Corporation
QIAGEN N.V.
Active Motif, Inc.
Illumina Inc.
EpiGentek Group Inc.

In May 2022, Oxford Nanopore announced integrating Remora, a technique that offers accurate and real-time epigenetic insights with nanopore sequencing software. This would further offer simple access to accurate whole genome methylation detection.

In June 2020, Base Genomics announced of advancing and developing its DNA methylation technology. the aim is to sequence a large amount of epigenetic data from a blood test which could revolutionize the preventative medicine arena.

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Key Segments Profiled in the DNA Methylation Industry Survey:

Technology:

Polymerase Chain Reaction (PCR)
Microarray
Sequencing
Others

Product:

Consumables
Kits & Reagents
Enzymes
Instruments & Software

Application:

Gene Therapy
Clinical Research
Diagnostics
Others

End-use:

Hospital & Diagnostic Laboratories
Pharmaceutical & Biotechnology Companies
Research & Academia

Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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Global Medical Biomimetics Market Poised for Explosive Growth, Reaching US$ 63.15 Billion by 2033

The global medical biomimetics market is experiencing a surge in growth, with a market value reaching US$ 32.10 billion in 2023. A new study by leading research experts predicts this upward trend will continue, with the market projected to reach a staggering US$ 63.15 billion by 2033. This translates to a robust Compound Annual Growth Rate (CAGR) of 7% over the next decade.

Several key factors are fueling this market expansion. One significant driver is the increased government funding dedicated to biomimetics research initiatives. This financial support is fostering innovation and accelerating the development of groundbreaking medical solutions inspired by nature. Furthermore, the widespread adoption of advanced medical technologies like nanomedicine is creating a fertile ground for the integration of biomimetic principles within the healthcare sector.

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As such, there exists an unmet need, the research and development activities are being carried out for affordable and long-lasting solutions for pathology, injury, and corneal blindness. For instance, in March 2022, researchers from the Centre for LV Prasad Eye Institute, IIT-Hyderabad and Cellular, and Molecular Biology developed an exclusive biomimetic corneal hydrogel, manufactured from discarded human corneas, which can be used for the treatment of corneal scarring, the main cause of corneal blindness.

Furthermore, with the escalating number of accidents, the implementation of biomimetics for orthopaedics is projected to boom. According to Association for Safe International Road Travel, every year about 20 to 50 million people worldwide suffer from injuries that leads to permanent disability. Hence, such factors are estimated to impact positively the growth of the medical biomimetics industry.

Key Takeaways from the Market Study:

By product, cardiovascular segment is expected to possess 43% market share for medical biomimetics industry in 2023
By application, the wound healing segment is expected to dominate the medical biomimetics industry and expected to account for 35% market share in 2023
North America is expected to possess 40% market share for medical biomimetics industry in 2023
Asia Pacific is expected to possess 36% market share for medical biomimetics industry in 2023

“The increasing prevalence of diseases along with development of technologically advanced equipment is contributing to medical biomimetics industry,” comments a Future Market Insights analyst.

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Competitive Landscape:

Some of the key players in the global medical biomimetics industry include:

Otsuka Medical Devices Group
Stryker
Abbott
AVINENT Science and Technology
SynTouch Inc.
Osteopore International Pte Ltd
Vandstrom, Inc.
Biomimetics Technologies Inc
Swedish Biomimetics 3000 ApS
Keystone Dental Group
LifeMatrix
Curasan, Inc.
CorNeat Vision

Numerous companies in the medical biomimetics industry are expanding their products in emerging markets.

In November 2021, Osteopore has been granted a patent in China for its smart 3D biometric scaffolds. The technology was developed with scientists from NTU Singapore and was previously granted a European patent in early 2021. This patent is anticipated to create numerous research and development opportunities in the Chinese market and allows the company to tap into local expertise as part of its product advancement process.
In April 2021, Curasan AG expanded its distribution network in Europe, the company has added Silesia Dental and Implants Diffusion International SARL to its European distribution network.

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Key Segments Profiled in the Medical Biomimetics Industry Survey:

Type:

Cardiovascular
Orthopaedic
Ophthalmology
Dental
Others

Application:

Wound Healing
Tissue Engineering
Drug Delivery
Other Applications

Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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Safety Light Curtains Market Growth: Industry Reaching to US$ 1.8 billion by 2033

Safety light curtains are crucial components in industrial automation, safeguarding personnel from hazards in work zones around machinery. These light barriers utilize beams of light to detect an object’s intrusion, triggering an immediate machine shutdown to prevent accidents. The safety light curtains market is currently experiencing a positive trajectory, driven by several key factors.

Market Drivers: Shining a Light on Growth

Rise of Industrial Automation: The ever-increasing adoption of automation in manufacturing facilities to enhance efficiency and production rates necessitates robust safety measures. Safety light curtains play a vital role in this scenario, ensuring worker safety alongside automated processes [1].
Stringent Safety Regulations: Regulatory bodies worldwide are enforcing stricter safety regulations in industrial environments. This compels companies to invest in safety equipment like light curtains to comply with these regulations and create safer workspaces.
Growing Focus on Worker Safety: As worker safety awareness increases, companies are prioritizing solutions that minimize workplace accidents. Safety light curtains offer a reliable and effective way to achieve this goal.
Advancements in Technology: Manufacturers are constantly innovating, developing light curtains with better detection ranges, faster response times, and improved resistance to environmental factors. These advancements make light curtains even more reliable and user-friendly.

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Growth Factors: Illuminating New Opportunities

Expansion of Manufacturing Hubs: The burgeoning manufacturing sectors in regions like Asia Pacific create a significant demand for safety equipment, including light curtains. Manufacturers can capitalize on this trend by expanding their reach in these markets.
Increased Adoption in New Applications: Safety light curtains are finding applications beyond traditional manufacturing, such as robotics, automated warehouses, and food processing facilities. This diversification presents exciting growth opportunities.
Integration with Industrial IoT: The integration of safety light curtains with Industrial IoT (Internet of Things) systems can enable remote monitoring, real-time data analysis, and predictive maintenance, enhancing overall safety management.

Future Trends: Lighting the Path Forward

- Smart Light Curtains: The future lies in “smart” light curtains with embedded intelligence. These curtains can communicate with other safety systems and machines, creating a more integrated and responsive safety environment.
- Advanced Diagnostics and Self-Monitoring: Light curtains with built-in diagnostic features can self-monitor for potential issues, ensuring optimal performance and minimizing downtime.
- Cascading Light Curtains: These advanced systems allow for the creation of larger protected zones by seamlessly linking multiple light curtains together, catering to complex industrial setups.
- Increased Demand for Collaborative Robots: As collaborative robots (cobots) gain traction, safety light curtains will play a crucial role in ensuring safe human-robot interaction.

Global Neurology Clinical Trials Market Poised for Steady Growth, Reaching US$ 10.5 Billion by 2032

The global neurology clinical trials market is projected to experience substantial growth, with a predicted increase from US$ 5.7 billion in 2022 to US$ 10.5 billion by 2032, marking a noteworthy Compound Annual Growth Rate (CAGR) of 6.3%. This surge in market size is primarily attributed to several factors including the escalating prevalence of neurological disorders, a burgeoning aging population, and continuous technological advancements in the healthcare sector.

Neurological disorders encompass a diverse range of conditions affecting the brain, spinal cord, and nerves, with some of the most prevalent disorders including Alzheimer’s disease, Parkinson’s disease, stroke, multiple sclerosis, and epilepsy. As populations age and lifestyles evolve, the incidence of these disorders is on the rise globally.

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The aging population is a major driver of the neurology clinical trials market. As people age, they are more likely to develop neurological disorders. For example, the risk of developing Alzheimer’s disease doubles every five years after age 65.

Technological advancements are also driving the growth of the neurology clinical trials market. New technologies, such as artificial intelligence (AI) and machine learning (ML), are being used to develop new drugs and treatments for neurological disorders. AI and ML are also being used to improve the efficiency and accuracy of clinical trials.

Key Takeaways:

The global neurology clinical trials market is expected to grow at a CAGR of 6.3% from 2022 to 2032.
The growth of the market is attributed to the rising prevalence of neurological disorders, an aging population, and technological advancements.
The phase II segment is expected to account for the largest share of the neurology clinical trials market during the forecast period.
The Alzheimer’s disease segment is expected to account for the largest share of the neurology clinical trials market during the forecast period.
The interventional study design segment is expected to account for the largest share of the neurology clinical trials market during the forecast period.
North America is expected to account for the largest share of the neurology clinical trials market during the forecast period.

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US to dominate the neurology clinical trials Market throughout the Analysis Period:

The US generated the highest revenue in the neurology clinical trials market in 2021. Revenue through neurology clinical trials in the U.S. grew at a CAGR of 5.3% during 2017-2021. An increase in life expectancy and a rise in neurological disorders in the U.S. is driving the need to expand neurology clinical trials. Support from government agencies and leading pharmaceutical companies like Biogen are leading the market with anticipated revenue growth of 6.6% CAGR over the forecasted period set between 2021 and 2032.

Neurology Clinical Trials Market: Competition Insights:

At present, health organizations and pharmaceutical companies are largely aiming at expanding their manufacturing facilities, investing in R&D, and inventing new drugs for the treatment of neurological disorders. The key companies operating in the neurology clinical trials market include

IQVIA
Novartis
Covance
Medpace
Charles River Laboratories
GlaxoSmithKline
Aurora Healthcare
Biogen

Some of the recent developments by key providers of neurology clinical trials are as follows:

In June 2022, Novartis announced the publication of Nature Medicine of Zolgensma data. The data revealed that children with spinal muscular atrophy (SMA) treated with Zolgensma were able to retain age-appropriate motor skills such as sitting, standing, and walking independently.
In June 2022, Biogen joined hands with Alectos Therapeutics to develop and commercialize a small molecule therapy known as AL01811, as a possible treatment for Parkinson’s disease. The collaboration will benefit Alectos with US$ 77.5 and US$ 630 Mn for development and commercial payments respectively. Moreover, Biogen will conduct responsible for regulatory costs and manufacturing once the therapy is approved for clinical settings.
In June 2022, Scientists at Yale University discovered that a drug developed by Bristol Myers Squibb has the ability to repair the loss of neuronal nexus known as synapse which is the key contributor to cognitive decline. The study also stated that it has the ability to restore synaptic connections in Alzheimer’s mouse models. The drug also minimized the toxic build-up of tau protein present in the brain of animals.
In April 2022, Novartis announced long-term data of Phase 3 ASCLEPIOS I/II trials. The data exhibited the efficacy of Kesimpta and stated that treatment of four years will reduce the risk of three and six months of confirmed disability and fewer relapses.

In April 2022, FDA granted Novartis, a commercial license to manufacture Zolgensma, a multi-product gene therapy with a 170,000 square-foot facility at Durham, N.C. site to test and release Zolgensma.

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Key Segments Covered in Neurology Clinical Trials Industry Survey:

Neurology Clinical Trials Market by Phase:

Phase I
Phase II
Phase III
Phase IV

Neurology Clinical Trials Market by Study Design:

Interventional
Observational
Expanded access

Neurology Clinical Trials Market by Indication:

Epilepsy
Parkinson’s Disease
Huntington’s Disease
Stroke
Traumatic brain Injury (TBI)
Amyotrophic Lateral Sclerosis (ALS)
Muscle regeneration
Other Indications

Neurology Clinical Trials Market by Region:

North America Neurology Clinical Trials Market
Latin America Neurology Clinical Trials Market
Europe Neurology Clinical Trials Market
South Asia Neurology Clinical Trials Market
East Asia Neurology Clinical Trials Market
Oceania Neurology Clinical Trials Market
Middle East & Africa Neurology Clinical Trials Market

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Chemistry 4.0 Industry Poised for Remarkable Growth with Projected 9.7% CAGR by 2033

The chemistry 4.0 industry is anticipated to grow from US$ 70.82 billion in 2023 to US$ 178.73 billion by 2033, with a projected CAGR of 9.7% over the forecast period.

The primary drivers of Chemistry 4.0 industry growths are the manufacturing sector’s rapid adoption of artificial intelligence (AI) and the Internet of Things (IoT), as well as rising consumer demand for industrial robots used in the production of pharmaceuticals and medical devices, increasing government investments in additive manufacturing and 3D printing, and expanding use of blockchain technology.

The need for robots has increased. Additionally, robots, which were formerly more expensive and had fewer possibilities, are now accessible tools that can do a range of tasks. Industrial robots, in particular, are commonly used by people all around the world.

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According to a report on the most recent trends in the robotics industry, industrial robots are being used more frequently in production hubs, which has sped up their development, evolution, and improvement. This will probably encourage the growth of the Chemistry 4.0 industry.

Corporations in North America are adopting the idea of smart manufacturing more and more, and the area is predicted to rule the Chemistry 4.0 industry. Europe had the second-largest market share for industry 4.0. To maintain its position in the international market, the European Chemistry 4.0 industry have made enormous investments in technologies and expertise.

Japan, China, and South Korea are navigating the Asia Pacific Chemistry 4.0 industry expansions thanks to their thorough approaches to adopting industrial automation and implementing new technologies in their production system value chain.

Key Takeaways

The Biocompatible Polymers industry in the United States is predicted to reach US$ 397.3 million by 2033, increasing at a 6% CAGR.
The Biocompatible Polymers industry in India is estimated to reach a market share of US$ 135.8 million, expanding at a CAGR of 1% by 2033.
During the forecast period, the Biocompatible Polymers industry in China is expected to reach a market share of US$ 382.5 million, securing a 5% CAGR.
Germany’s Biocompatible Polymers industry is predicted to achieve a market share of US$ 133 million, rising at a 2% CAGR during the forecast period.
The Synthetic polymers segment is projected to hold a dominant market share in the Biocompatible Polymers industry, with a CAGR of 5% from 2022 to 2033.
The Surgical and medical instruments segment is anticipated to hold the largest market share in terms of value, with an estimated share of more than 36% in 2023.

“The Chemistry 4.0 market represents the integration of digital technologies and automation within the chemical industry. It encompasses advanced data analytics, IoT, and AI to enhance production efficiency, safety, and sustainability. This transformation is driven by the increasing demand for innovative solutions and the optimization of chemical processes in various sectors”– says FMI analyst.

Competitive Landscape

The key companies of the Chemistry 4.0 industry are constantly on the lookout for effective ways to market their goods and consolidate their positions. One such tactic is to partner with other businesses to introduce new products in order to reach more end users.

Recent Development

Merger:
After merging with DuPont in 2017, Dow Chemical became the largest chemical company in the world in 2018, dethroning BASF’s 12-year reign. But in April 2019, DowDuPont split into three separate businesses: Dow, DuPont, and Corteva Agriscience. In 2018, 18 different countries were represented, with more than half of the companies on the list having their headquarters in the United States, Japan, or Germany.

ABB, Inc. and Nestle, Inc. joined forces in March 2021 to put monitoring software in candy factories. By working with leaders in the sector, the company is concentrating on growing its product offering.

Agreement:
Ansys, Inc. announced a technology agreement with LG Electronics, Inc. in November 2020 to develop a virtual learning portal that Ansys, Inc. has developed.

Purchase:
HMS Networks AB announced the purchase of WEBFactory GmbH in October 2020 to offer web-based software solutions for the Industrial Internet of Things.

Acquisition:
The acquisition of BabbleLabs Technology, Inc. by Cisco Systems, Inc. was announced for October 2020 with the goal of enhancing video meetings through the use of noise-reduction and speech-enhancement technology.

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Key Players

BASF
Dow
Sinopec
Sabic
Ineos
Formosa Plastics[B]
ExxonMobil Chemical
LyondellBasell Industries
Mitsubishi Chemical
DuPont
LG Chem
Reliance Industries
PetroChina
Air Liquide
Toray Industries

Key Segments

By Technology:

IOT
AI
Automation

By Application:

Consumer
Enterprise
Industry
Construction
Manufacturing

By Geography:

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa (MEA)

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Aviation Compliance Monitoring Software Market on 7.8% CAGR Path to US$ 18,287.1 Million by 2033

The aviation compliance monitoring software market is poised for substantial growth, with a projected increase of 7.8% CAGR from 2023 to 2033. This surge is anticipated to result in a market value reaching an impressive US$ 18,287.1 million by the year 2033. The escalating demand for advanced technologies in the aviation sector, coupled with an increasing emphasis on regulatory compliance, is driving the adoption of specialized software solutions.

Aviation compliance monitoring software plays a pivotal role in ensuring adherence to stringent industry standards and regulations, offering aviation companies the tools they need to monitor and manage their compliance obligations effectively.

As the industry evolves to meet the challenges of a dynamic global landscape, the robust growth forecast underscores the critical role that compliance monitoring software is set to play in shaping the future of aviation operations.

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Furthermore, there are four key areas where the correct software assistance significantly enhances the safe environment: recognizing underlying issues, assisting with employee safety reports, and logical security software for users gathering and analyzing data.

Increased spending on aviation compliance monitoring software is expected to open up new business opportunities. Service tracking, logbook tracking, flying time monitoring, administration of service bulletins, work scheduling, budget forecasting, digital task card administration, and work order management are the key components of aviation compliance software.

In May 2021, India saw large foreign direct investments across a range of industries, including compliance monitoring software in aviation. This occurred as foreign businesses concentrated on acquiring billions of dollars worth of aviation compliance software. As a result, it is anticipated that investments and acquisitions will produce profitable market prospects.

Competitive Analysis:
Web Manuals, Comply365, Merlot Aero, Vistair, Accelya Holding World, Aeroplan, Airline Software, BERNS Engineers, Seabury Solutions, Infotel Group, and Ideagen are a few of the key companies active in the global aviation compliance market.

Some of the Recent Developments in the Aviation Compliance Monitoring Software Market are:

In June 2022, Ideagen announced that the essential resolutions regarding the purchase of Ideagen plc by Rainforest Bidco Limited were discussed and passed at the court and general meetings. The procurement is being carried out through the use of a plan of arrangement that has been approved by the court and is pending approval.
In November 2019, Accelya, a provider of financial, business, and analytic technologies to the aviation and travel sector, today announced that Vista Equity Partners, an investment company specializing in enterprise software, data, and technology-enabled enterprises, will purchase the company.

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More Insights Available:
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Aviation Compliance Monitoring Software Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Global Aviation Compliance Monitoring Software Market in terms of Deployment Type (Cloud-based and On-premises), By Application (Large Enterprises and SMEs), across five regions (North America, Asia Pacific, Europe, Middle East & Africa, and Latin America).

Aviation Compliance Monitoring Software Market Segmentation:

By Deployment Type:

Cloud-based
On-premises

By Application:

Large Enterprises
SMEs

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Nandini Singh Sawlani

Biocompatible Polymers Industry Set for Robust Growth with 6.8% CAGR Projection by 2033

In 2023, the biocompatible polymers industry is expected to be worth US$ 957 million. The market is expected to reach US$ 1,847.7 million by 2033, expanding at a 6.8% CAGR throughout the forecast period. The global biocompatible polymer market is experiencing significant growth due to the increasing demand for materials that can be safely used in various medical and healthcare applications. These polymers are designed to interact with biological systems without causing any adverse reactions or harm to living organisms. They possess a range of desirable properties, including biodegradability, non-toxicity, and excellent compatibility with biological tissues and fluids. This makes them ideal for use in the development of medical devices, drug delivery systems, tissue engineering scaffolds, implants, and other biomedical applications.

One of the prominent drivers of the biocompatible polymer market is the increasing demand for advanced healthcare solutions. With the growing prevalence of chronic diseases and the need for more effective treatment options, there is a mounting demand for advanced medical devices and therapies. Biocompatible polymers play a crucial role in enabling the development of various solutions by providing materials that are safe, reliable, and well-tolerated by the human body.

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Advancements in polymer science and technology have also contributed to the growth of the market. Researchers and scientists are continually exploring new polymer formulations and manufacturing techniques to enhance the biocompatibility, mechanical strength, and functionality of these materials.

The market growth is supported by stringent regulations and guidelines governing the safety and efficacy of medical devices and implants. Regulatory bodies worldwide are emphasizing the use of biocompatible materials in healthcare products to ensure patient safety. Biocompatible polymers offer excellent biocompatibility, reducing the risk of adverse reactions, infections, and complications associated with medical interventions.

In 2023, the surgical and medical instruments segment is expected to account for more than 36% of the value shares in the global market. The rising demand for minimally invasive surgical procedures and the increasing adoption of advanced medical technologies are driving the growth of this segment. On the other hand, the growing aged population and the prevalence of chronic diseases are also contributing to the demand for biocompatible polymers in medical devices.

Key Takeaways from the Biocompatible Polymers Market:

The Biocompatible Polymers industry in the United States is predicted to reach US$ 397.3 million by 2033, increasing at a 6% CAGR.
The Biocompatible Polymers industry in India is estimated to reach a market share of US$ 135.8 million, expanding at a CAGR of 1% by 2033.
During the forecast period, the Biocompatible Polymers industry in China is expected to reach a market share of US$ 382.5 million, securing a 5% CAGR.
Germany’s Biocompatible Polymers industry is predicted to achieve a market share of US$ 133 million, rising at a 2% CAGR during the forecast period.
The Synthetic polymers segment is projected to hold a dominant market share in the Biocompatible Polymers industry, with a CAGR of 5% from 2022 to 2033.
The Surgical and medical instruments segment is anticipated to hold the largest market share in terms of value, with an estimated share of more than 36% in 2023.

How Does the Competition Look in the Biocompatible Polymers Market?

The global Biocompatible Polymers market is consolidated in nature. Prominent shares are captured by a few manufacturers in the global market. The manufacturers are adopting various strategies to maintain their market share.

Prominent manufacturers in the industry are focusing on product innovation, strategic partnerships, and collaborations, expansion into emerging markets, mergers and acquisitions, strengthening their supply chain network, and cost-effectiveness.

Some of the prominent producers in the industry include BASF SE, Covestro AG, PolyOne Corporation, Evonik Industries AG, Mitsubishi Chemical Corporation, and Celanese Corporation. These manufacturers are investing heavily in R&D to develop new and improved materials, forming strategic partnerships and collaborations, expanding their presence in emerging markets, and strengthening their distribution networks. On the other hand, prominent producers are focusing on developing cost-effective products that require less processing time and materials, and that can be used in a wide range of applications.

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Key Players in the Biocompatible Polymers Industry

BASF SE
Covestro AG
PolyOne Corporation
Evonik Industries AG
Mitsubishi Chemical Corporation
Celanese Corporation
Kingfa Sci. & Tech. Co., Ltd.
Toray Industries, Inc.
Victrex plc
Invibio Ltd.
Corbion

Segmentation Analysis of the Biocompatible Polymers Market

By Product Type:

Synthetic Polymer
Natural Polymer

By Polymer:

Poly(tetrahydrofurfuryl acrylate)
Poly(2-methoxyethyl acrylate) (PMEA)
Polyvinylchloride (PVC)
Polytetrafluoroethylene (PTFE)
Polyethersulfone (PES)
Polyethylene (PE)
Polyetheretherketone (PEEK)
Polysulfone (PS)
Polypropylene (PP)
Others

By Application:

Surgical & Medical Instruments
Implants
Drug Delivery
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia Pacific
The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani