COVID-19 Impact Analysis on AI in Healthcare Industry. Insights on Strategies of Key Players

The global AI in healthcare market is expected to observe an extensive growth in the coming years, led by growing need for precision medicine, increasing application of big data in healthcare industry, and rising need for coordination between healthcare workforce and patients. 

Deep learning, natural language processing (NLP), querying method and context aware processing are some of the technologies used for AI in healthcare. The demand for NLP in healthcare has been growing mainly due to rise in unstructured clinical data. Since NLP technology extracts important clinical information from unstructured data and analyze it for enhancing processing and analytics.

The key factors that drive the growth of the industry include rise in need for coordination between healthcare workforce and patients, increasing application of Big Data in healthcare industry, ability of AI to improve patient outcomes, growing demand for precision medicine and increase in venture capital investments.

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With the increasing use of big data in healthcare sector, the vast amount of data can be stored systematically, as big data makes it easier for hospital staff to work efficiently. In order to monitor blood pressure, heartbeat and respiratory rate sensors are used besides patient beds which alert the doctors and hospital staff if any change is observed in the patient condition. Big data also help to fight cancer and mapping the 3 billion DNA base pairs during treatment of cancer. Big data improves hospital administration by reducing the cost of care measurement and provide best clinical support.

North America leads the global market due to presence of major AI providers including Intel Corporation, Google, Inc., IBM Corporation in the region. Other factors leading the market growth include, developed healthcare infrastructure, and growing aging population. Asia-Pacific is expected to witness the fastest growth during the forecast period. Increasing healthcare expenditure, continuously improving healthcare infrastructure due to growing medical tourism and growing aging population are the factors expected to support the growth of the Asia-Pacific AI in healthcare market.

Key players in the global AI in healthcare market include Intel Corporation, IBM Corporation, Microsoft Corporation, Google, Inc., General Electric Company, NVIDIA Corporation, Medtronic Plc, Koninklijke Philips N.V., iCarbonX, Next IT Corp., Welltok, Inc., General Vision, Inc, Recursion Pharmaceuticals, Enlitic, Inc. Stryker Corporation, Deep Genomics, Inc., and Oncora Medical, Inc.

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APAC Low Speed Electric Vehicle Market With the Best Scope, Trends, Benefits, Opportunities to 2025

The Asia-Pacific (APAC) low speed electric vehicle (LSEV) market is predicted to progress at a CAGR of 6.6% from 2018 to 2025 and expand to 71.8 million units in 2025, as per the market research company, P&S Intelligence. The main factors propelling the growth of the market are the rising measures and initiatives being taken by the governments of many APAC countries, the increasing public awareness of environmental degradation caused because of the usage of oil and gas-powered vehicles, and the implementation of strict emission norms in several APAC countries.

A major factor fueling the advancement of the market is the increasing focus of the governments of many APAC nations on reducing their expenditure on crude oil imports. The adoption of LSEVs is one of the best methods for mitigating the costs of crude oil imports. Furthermore, the LSEVs are eco-friendly and have lower operational costs than the conventionally used oil and gas-powered automobiles. Due to these factors, the public transport organizations in the APAC countries are rapidly adopting these vehicles in their transport fleets.

The other key factors boosting the growth of the low speed electric vehicle in apac market are the increasing awareness amongst the public of the environmental degradation caused due to the large-scale utilization of the conventional vehicles and the rapid urbanization in various APAC nations, especially India and China. Furthermore, the governments of APAC nations are providing subsidies, tax rebates, and grants on the purchase of low speed electric vehicles, which is, in turn, causing a rapid expansion of the market.

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Till now, the APAC LSEV market recorded the highest growth, in both volume and value, in China. This is ascribed to the presence of numerous favorable government regulations and policies for the adoption of low speed electric vehicles in the country. Additionally, the soaring urban population and the existence of prominent market players in the country contributed significantly to the surge of the market in the country over the past few years.

Thus, with the growing implementation of favorable government regulations for the sale of electric vehicles and the increasing customer preference for eco-friendly modes of transportation, the market will exhibit stable growth in the future years.

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Rising Demand for GIS solutions in Transportation Sector Driving the GIS Market

Due to the increasing investments being made by various government organizations, surging adoption of cloud technology and usage of spatial data, soaring incorporation of geographic information system (GIS) solutions by enterprises, and growing requirement of GIS-based solutions and systems in location-as-a-service (LaaS) platforms, the global geographic information system (GIS) market is predicted to generate revenue of $25.6 billion in 2030, exhibiting a CAGR of 12.1% from 2020 to 2030. 

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The COVID-19 pandemic has massively accelerated the progress of the GIS market across the globe. This is because of the large-scale adoption of the GIS solutions for mapping the spreading pattern of the infection and implementing adequate preventive and surveillance measures. Furthermore, many government organizations are increasingly utilizing various GIS features such as spatial analysis, mapping, and locating intelligence for mitigating the impact of the COVID-19 disease.

For example, several government agencies such as the National Informatics Center (NIC) and the National Disaster Management Authority (NDMA) have been using various GIS-based solutions such as ArcGIS Pro, ArcGIS Hub, ArcGIS Online, and ArcGIS, developed by Esri Inc. for analyzing the spreading pattern of the infection, identifying the persons coming in contact with infected people, and implementing adequate preventive measures.

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Globally, the Asia-Pacific (APAC) GIS market is predicted to exhibit the fastest expansion between 2020 and 2030. This is credited to the surging requirement of GIS solutions in several developing countries of APAC such as India, China, Malaysia, and Indonesia. Additionally, in China, GIS technology is being rapidly adopted in various smart city development projects, primarily in the development and planning stages. 

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What are Key Factors Responsible for Soaring Demand for Next-Generation Sequencing Technology?

The surging incorporation of next generation sequencing (NGS) technology in biopharmaceutical and pharmaceutical organizations, especially in developed nations, is one of the biggest factors fuelling the demand for this technology across the globe. This is mainly attributed to the increasing incidence of chronic diseases such as autoimmune diseases, cancer, and diabetes and the resultant surge in the requirement of innovative treatment procedures. Additionally, the growing utilization of NGS instruments by pharmaceutical and biopharmaceutical companies for designing therapies for various chronic diseases and genetic disorders is further boosting the demand for this technology all over the world.

The increasing research and development (R&D) activities in several regions including North America and Europe and rapid technological developments in next generation sequencing technology, especially in the developed nations are the other factors fuelling the adoption of this technology around the world. Furthermore, the lower costs of the NGS-based processes as compared to the conventional sequencing methods are contributing significantly toward their growing popularity in several countries. Due to these factors, the global next-generation sequencing market is predicted to exhibit rapid progress in the upcoming years.

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Geographically, “the North American next-generation sequencing market will demonstrate the highest growth in future”, primarily on account of the rapid technological advancements, increasing healthcare spending, growing utilization of NGS systems, and existence of numerous academic and research institutes in the region. However, in spite of these reasons, "the market growth will be faster in Asia-Pacific (APAC) than in North America in the years ahead”, because of the increasing genomics and proteomics-related R&D activities in the region.

Hence, it can be safely said that the demand for NGS technology will rise tremendously all over the world in the years to come, predominantly because of the increasing adoption of this technology in the biopharmaceutical and pharmaceutical companies, healthcare applications, and the surging R&D activities in the field of genetics.

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COVID-19 Impact Analysis on Closed Loop Stepper Motor Market | Insights on Strategies of Key Players

The global closed loop stepper motor market is projected to grow at a CAGR of 6.3% during 2017 – 2023. As per the research, the global closed loop stepper motor market is expected to register a CAGR of 6.3% during 2017 – 2023. Closed loop stepper motors refer to an improved version of the traditional open loop stepper motors, which abolish the constraints and drawbacks of the traditional systems.

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Some of the major end-users of closed loop stepper motors comprise industrial machineries, medical equipment, packaging and labelling, factory automation, textile and robotics, of which industrial machineries have been the largest user, owing to the rapid growth in mechanization and evolution of industry 4.0. Asia-Pacific has been the largest contributor to the global closed loop stepper motor market. 

Major factors propelling the growth of the global closed loop stepper motor market include brisk increase in mechanization, integration of motion control components and standardization of energy efficiency. The anticipated growth in the market is attributable to the surging demand for automation in developing countries such as Japan, China, India and South Korea; among which, Japan contributes the largest to the Asia-Pacific closed loop stepper market, closely followed by China.

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Closed loop steppers incorporate the advantages of servo and traditional stepper motor technologies and offer unique competencies and improvements over both, while at half the cost of a servo system. Some of the major companies operating in the global closed loop stepper motor market include Nippon Pulse Motor Co. Ltd., Schneider Electric SE, ABB Ltd., Applied Motion Products Inc., Delta Electronics Inc., Sanyo Denki Co. Ltd.,

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How is Growing Geriatric Population Driving Global Digital Therapeutics Industry?

The number of people aged 60 years or above is increasing day by day. According to the United Nations Department of Economic and Social Affairs report on the worldwide aging population, the global percentage of geriatric population is predicted to reach 21.1% by 2050, increasing from 11.7% in 2017. Moreover, by 2050, the number of old age people is projected to reach about 324 million in India, 437 million in China, 58 million in Brazil, and 107 million in the U.S. by 2050. Due to weakened body functions, aged people are more susceptible to diseases and often need to go checkups in order to maintain their health.

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This however is not always convenient for old people, owing to which, the demand for alternate solutions, such as digital therapeutics is increasing swiftly. Digital therapeutics provide therapeutic interventions, which are driven by enhanced software programs for managing, preventing, or treating diseases, to patients. The technology can be utilized independently or along with devices, medication, or other therapies for optimizing patient care and enhancing health outcomes. Attributed to these factors, the global digital therapeutics market size is expected to advance at a considerable rate in the years to come.

Digital therapeutics, also known as software-as-a-drug, is offered via smart devices in order to boost healthy behaviors. This digital system is cost effective and further has the potential to enhance patient engagement and bring significant positive changes in patient health. Digital therapeutics is majorly prescribed for helping and managing long term conditions, including asthma, insomnia, and diabetes. Because of the advantages of these solutions, governments of several countries are increasingly taking initiatives for reinforcing the implementation and development of digital therapeutics solutions. These solutions particularly aim at patient education improvement skills and self-management for encouraging healthy lifestyle of an individual.

In conclusion, the demand for digital therapeutic solutions is increasing due to the growing geriatric population and rising government initiatives across the globe.

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This study covers

• Historical and the present size of the digital therapeutic market
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings

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Changes in Consumer Behaviour During COVID-19 Outbreak May Affect Growth ofChanges in Consumer Behaviour During COVID-19 Outbreak May Affect Growth of Robotic Process Automation Market

The growing digitization has been encouraging enterprises to adopt best practices which provide service in a timely manner and are cost-effective. Virtual workforce aims to automate business processes in order to save both cost and time and thus is a big part of digital transformation. By automating mundane and repetitive tasks, virtual workforce allows employees to focus on tasks that need human intervention for better decision making, which is why its demand is increasing.

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The market is witnessing growth due to the surging demand for virtual workforce, reduction in workforce cost, greater ease of doing business, and decreasing cost of automation software and services. RPA is a technology that helps in configuring computer software for capturing and interpreting existing applications to trigger several responses, process transactions, communicate with other digital systems, and manipulate data.

When process is taken into consideration, the robotic process automation market is categorized into decision support & management, interaction solution, and automated solution. Out of these, the automated solution category dominated the market during the historical period and is projected to hold the largest share of the market during the forecast period as well. This is ascribed to the expansion of banking, financial services, & insurance (BFSI) industry, which has been adopting RPA increasingly in order to enhance efficiency and decrease cost.

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The growing digitization has been encouraging enterprises to adopt best practices which provide service in a timely manner and are cost-effective. Virtual workforce aims to automate business processes in order to save both cost and time and thus is a big part of digital transformation. By automating mundane and repetitive tasks, virtual workforce allows employees to focus on tasks that need human intervention for better decision making, which is why its demand is increasing.

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