Market Trends and Growth: May 2023

Monday 29 May 2023

Neuromorphic Computing Market By Brain Corporation; CEA-Leti; General Vision, Inc; Hewlett Packard Company; HRL Laboratories LLC; International Business Machines Corporation

The global Neuromorphic Computing Market size is expected to reach USD 20,272.1 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 21.2% from 2022 to 2030. The rise in demand for artificial intelligence and machine learning technology increased software utilization in neuromorphic computing, and the growing demand to produce better-integrated circuits (ICs) is attributed to the growth of the Neuromorphic computing market.

AI-powered neuromorphic chips are in high demand in the automotive industry because of their constant requirement for developing AI algorithms for high throughput with low power demands. Moreover, Neuromorphic chips are ideal for classification methods and could be used in various autonomous driving scenarios. For instance, in December 2020, Mercedes-Benz AG collaborated with the Intel Neuromorphic Research Community to investigate how neuromorphic chips could improve energy efficiency, speed, and accuracy for vehicle-related AI applications.

The increasing use of neuromorphic technology in healthcare applications is attributed to market growth. Moreover, Neuromorphic devices combined with artificial intelligence help detect health issues in individuals. For instance, in August 2022, Researchers from the University of Chicago’s Pritzker School of Molecular Engineering in the U.S. developed a wearable neuromorphic computing chip. This chip is developed by fusing wearable technology with artificial intelligence and machine learning to analyze health data.

Neuromorphic computing, which uses observations from neuroscience to create chips that function like the biological brain, aims to improve energy efficiency, computation speed, and learning efficiency in various applications such as voice, vision, gesture recognition, robotics, and search retrieval. For instance, in October 2021, Intel Corporation released Loihi 2, its 2^nd generation neuromorphic research chip, and Lava, an open-source software platform for creating neuro-inspired applications and computing.

Neuromorphic computing provides benefits such as fast parallel processing with minimum power requirement. It also eliminates the need for back-and-forth data movement between components in the von Neumann architecture; this is expected to drive its adoption for image and signal processing applications. Moreover, its expected adoption in consumer electronics, automotive, healthcare, and military & defense sectors will also be largely responsible for driving the market growth.

Related Press Release@ Neuromorphic Computing Market Report

Neuromorphic Computing Market Report Highlights

The consumer electronics segment holds the maximum revenue share of 57.93% in 2022. This can be attributed to the dynamic growth in the electronics industry coupled with the integration of IoT and AI-based technologies in the consumer electronic equipment.
The Edge segment dominates the market with a revenue share of more than 74% due to the rising use of edge computing in applications such as responsive voice control for automobiles, full-body gesture detection for touchless interfaces, and onboard intelligence for assistive robotics.
The software segment is projected to grow with the highest CAGR of 26.9% during the forecasted period due to the increasing software needs across multiple industries such as aerospace & defense, IT, and telecom.
Asia Pacific is projected to grow with the highest CAGR of 22.7% from 2023 to 2030. The growth is attributable to the rapidly swift technological advancements, increasing consumption of smart electronic equipment, and the increasing prominence of social networking in developing economies, such as India and China.

List of Key Players in the Neuromorphic Computing Market

Brain Corporation
CEA-Leti
General Vision, inc
Hewlett Packard Company
HRL Laboratories, LLC
International Business Machines Corporation
Intel Corporation
Knowm Inc
Qualcomm Technologies, Inc
Samsung Electronics Co., Ltd
Vicarious FPC, Inc

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5G Internet of Things (IoT) Market

Neuromorphic Computing Market Segmentation

Grand View Research has segmented the global neuromorphic computing market based on application, end-use, deployment, component, and region:

Neuromorphic Computing Application Outlook (Revenue, USD Billion; 2018 - 2030)

Signal Processing
Image Processing
Data Processing
Object Detection
Others

Neuromorphic Computing End-Use Outlook (Revenue, USD Billion; 2018 - 2030)

Consumer Electronics
Automotive
Healthcare
Military & Defense
Others

Neuromorphic Computing Deployment Outlook (Revenue, USD Billion; 2018 - 2030)

Edge
Cloud

Neuromorphic Computing Component Outlook (Revenue, USD Billion; 2018 - 2030)

Hardware
Software
Services

Neuromorphic Computing Regional Outlook (Revenue, USD Billion; 2018 - 2030)

North America

U.S.
Canada
Mexico

Europe

U.K.
Germany
France

Asia Pacific

China
Japan
India

South America

Brazil

Middle East and Africa

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Oncology Information Systems Market Share, Growth and Future Analysis

The global Oncology Information Systems Market size is expected to reach USD 4.6 billion by 2030, registering a CAGR of 7.9% in the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of cancer around the globe and rising investment in product development about cancer research undertaken by key players are key driving factors for the growth of the market. According to the estimates published by GLOBOCAN in 2020, 19.3 million new cancer cases were diagnosed and 10.0 million cancer-related mortalities were recorded. Cancer-causing infections like HPV and Hepatitis cause approximately 30% of cases in low-middle-income nations. The growing cancer burden is expected to boost the demand for advanced cancer care & management therapies with accurate and efficient results, thereby aiding the market growth.

Increasing investments in the field of oncology by both governments as well as key players is one of the key factors for boosting the market growth. The U.S. government has allocated $194 million towards Cancer Moonshot and $50 million to Childhood Cancer Data Initiative for the year 2022. Market players are collaborating to enhance product development and expand their business footprint. For instance, in 2020 Accuray Inc. collaborated with Brainlab, a German digital surgery company, to expand Accuray’s CyberKnife platform treatment abilities for the neuro-radiosurgery sector. In 2020, ViewRay Inc. collaborated with VieCure, an AI informatics company, to develop solutions to enhance the adoption of personalized cancer care. These factors are expected to drive market growth.

Solutions in the product & services segment held the largest market share in 2022. The rising adoption of solutions for patient data management and data sharing across different healthcare facilities is primarily responsible for the momentous growth of the market. The OIS solutions are aimed at better management practices as well as providing better treatment courses for optimal patient outcomes. An uptick in the trend for professional services or outsourcing of OIS software management, due to the lack of skilled professionals in the healthcare settings, is also helping the market growth. The medical oncology application segment held the largest market share in 2022. It is also estimated to be the fastest-growing segment from 2023 to 2030.

Innovations in immunotherapy, radiotherapy as well as targeted therapy for specific cancers have led the market growth. The surgical oncology segment is also expected to witness significant growth owing to technological advancements in the field of surgical interventions related to the treatment of various cancers. North America was the largest regional market in 2022 owing to the presence of major players. The sophisticated healthcare system and high awareness of the importance of proper management of patient data have also led to regional market growth. Asia Pacific is projected to be the fastest-growing regional market due to rising expenditure on healthcare IT and overall healthcare facilities and supportive government initiatives.

Related Press Release@ Oncology Information Systems Market Report

Oncology Information Systems Market Report Highlights

The market growth can be attributed to technological advancements in OIS and the increasing prevalence of cancer on a global level
The solutions segment dominated the market in 2022 owing to the increasing penetration of this suite of solutions across all healthcare settings, such as hospitals, ASCs, cancer research centers, and clinics
In addition, it aids in streamlining the patient management and data management processes
Key players are focused on developing more advanced OIS to improve cancer treatment. Companies are solely partnering with other key players to accelerate product development
For instance, in April 2019 Accuray Inc. launched Synchrony Motion Tracking and Correction technology for its Radixact system
In January 2018, Elekta collaborated with IBM Watson Health to develop and improve Elekta’s cancer care systems
In 2020, Varian Medical Systems invested USD 10.0 million in COTA Inc. and entered a strategic collaboration with the company to strengthen its position in the cancer care sector
Such initiatives are expected to boost the growth and development of OIS during the forecast period

List of Key Players in Oncology Information Systems Market

Elekta AB
Cerner Corp.
Varian Medical Systems
Flatiron
RaySearch Laboratories
Accuray Inc.
BrainLab
Philips Healthcare
Prowess, Inc.
DOSIsoft S.A.
ViewRay Inc.
MIM Software
McKesson Corporation
Siemens Medical Solutions, Inc.

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Oncology Information Systems Market Segmentation

Grand View Research, Inc. has segmented the global oncology information systems market based on product & services, application, end-user and region:

OIS Products & Service Outlook (Revenue, USD Million, 2016 - 2030)

Solutions

Patient Information System
Treatment Planning System

Professional Services

OIS Application Outlook (Revenue, USD Million, 2016 - 2030)

Medical Oncology
Radiation Oncology
Surgical Oncology

OIS End User Outlook (Revenue, USD Million, 2016 - 2030)

Hospitals & Diagnostic Imaging Centers
Ablation Care Centers and Cancer Care Centers
Government Institutions
Research Facilities

OIS Regional Outlook (Revenue, USD Million, 2016 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain

Asia Pacific

Japan
China
India
Thailand
South Korea

Latin America

Brazil
Mexico
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Tuesday 23 May 2023

Cell Culture Market Size Worth $60.27 Billion By 2030

The global Cell Culture Market size is expected to reach USD 60.27 billion by 2030, expanding at a CAGR of 11.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. This can be attributed to the increase in biopharmaceutical production, advancements in vaccine research and development, and increasing focus on genetic engineering applications that rely heavily on cell culture techniques.

Innovations in cell culture workflow automation, such as the commercial development of integrated robotic liquid handling systems, are expected to significantly boost the capabilities of current cell culture technologies. For instance, culturing processes are expected to witness improvements in capacity handling and efficiency, and reproducibility in operations. Similarly, automation in cell line development technologies is gaining traction with the launch of new platforms. For instance, in October 2021, CYTENA launched C.STATION, a fully automated cell line development platform, for enhancing antibody and gene therapy production. Such product launches are likely to increase the market penetration of cell culture offerings.

Cell culture models play a pivotal role in the development of novel therapeutics for diseases such as diabetes, cancer, and Parkinson’s diseases. With the increasing emphasis on research and development activities exploring therapeutic candidates for such diseases, the demand for customized media for use in preclinical research is expected to drive the market. Furthermore, demand for serum-free media is likely to witness significant growth due to increasing quality constraints in biopharmaceuticals and the requirement for highly consistent and standardized culturing conditions.

The COVID-19 pandemic has boosted the demand for cell culture products due to the significant role played by culturing technologies in the discovery of novel diagnostic and therapeutic options for the disease. For instance, research applications such as high-throughput COVID-19 drug screening for the identification of potential drug candidates or investigations aimed at understanding the mechanism of viral entry into the host cells are expected to positively affect the market growth. Furthermore, culturing techniques offer essential tools for the production of viral particles for vaccine development, thereby broadening the growth prospects in this domain.

Related Press Release@ Cell Culture Market Report

Cell Culture Market Report Highlights

By consumable, the media segment accounted for the largest revenue share of over 50.0% in 2021 due to the availability of a variety of serum- and animal component-free and customized media alternatives, which has increased the market penetration for media products
Based on product, culture systems held the largest revenue share of over 25.0% in 2021. This can be attributed to the technological advancements in automated systems for research & development applications
The biopharmaceuticals application segment dominated the market in 2021 with a revenue share of over 25.0% due to the involvement of mammalian lines, such as the Chinese hamster ovary, in the manufacturing of biopharmaceuticals and the rising demand for non-conventional drugs
North America held the largest revenue share in 2021 due to high research and development investments, the presence of a well-established scientific infrastructure, significant demand for animal component-free media, and other factors
The Asia Pacific region is estimated to grow at the fastest rate over the forecast period due to the growing healthcare expenditure, rising awareness regarding regenerative therapies, and a large potential for clinical research applications

List of Key Players of the Cell Culture Market

Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific, Inc.
Becton, Dickinson and Company
Merck KGaA
Sartorius AG
VWR International, LLC
Eppendorf SE
PromoCell GmbH
Bio-Techne Corporation
BioSpherix, Ltd.

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Cell Culture Market Segmentation

Grand View Research has segmented the global cell culture market based on consumable, product, application, and region:

Cell Culture Consumable Outlook (Revenue, USD Million, 2018 - 2030)

Media

Minimum Essential Media (MEM)
RPMI 1640 Media
DMEM/F-12 Media
F-10 Serum Free Media
BME Media
Insect Media
Other Media

Sera

Fetal Bovine Serum
Other AnimalSerum

Reagents

Albumin
Other

Cell Culture Product Outlook (Revenue, USD Million, 2018 - 2030)

Culture Systems
Incubators
Centrifuges
Cryostorage Equipment
Biosafety Equipment
Pipetting Instruments

Cell Culture Application Outlook (Revenue, USD Million, 2018 - 2030)

Biopharmaceuticals
Tissue Culture & Engineering
Vaccine Production
Drug Development
Gene Therapy
Toxicity Testing
Cancer Research
Others

Cell Culture Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain

Asia Pacific

Japan
China
India
Australia
South Korea

Latin America

Brazil
Mexico

Middle East and Africa (MEA)

South Africa
Saudi Arabia
UAE

Thursday 18 May 2023

Non-alcoholic Beverages Market To Reach $1,185.30 Billion By 2030

The global Non-alcoholic Beverages Market size is anticipated to reach USD 1,185.30 billion by 2030, expanding at 6.4% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. owing to factors such as rising disposable income, population growth, and changing lifestyles. Increasing concerns regarding obesity and health awareness are expected to trigger the growth of low-sugar carbonated drinks, tea & coffee, and bottled water.

Brands globally have been innovating new products with new flavors and premium flavors in product categories, such as carbonated beverages, bottled water, and tea & coffee, which would further support the category growth. For instance, in May 2021, Danone S.A. launched the first flavored and sparkling line from its Evian bottled water brand in the U.S., available in four flavors such as Raspberry & Ginseng, Lime & Ginger, Grapefruit & Basil, and Cucumber & Mint.

In terms of product, the bottled water segment is expected to be the fastest-growing segment during the forecast period. Product launches in this segment by key players in the market are likely to supplement the overall segment growth. For instance, in July 2020, Dutch-based brand Bottle Up launched its product offering in the U.K. with its pre-filled, reusable, BPA-free, and plant-based water bottles. The bottles would be available in 438 WHSmith locations across U.K., including the train station and airport locations, such as Manchester Piccadilly, Euston, Heathrow, Luton, Waterloo, Victoria, and several hospitals.

The retail distribution channels held the largest share in 2021 and are expected to remain dominant during the forecast period. The rise in demand for non-alcoholic beverages or zero-alcohol drinks by the consumers has made these retailers hold a larger share of such products by different brands such as Welch, Budweiser, Busch, and Great Value, especially in supermarkets such as Aldi, Whole Foods, and Walmart.

The non-alcoholic beverages market is consolidated in nature with the presence of a large number of international players and few regional players. Nestlé, PepsiCo, Unilever, Keurig Dr Pepper Inc., The Coca-Cola Company, Cott Corporation, Danone S.A., SUNTORY BEVERAGE & FOOD LIMITED, Asahi Group Holdings, Ltd., and Red Bull are among the prominent players in the global market.

Related Press Release@ Non-alcoholic Beverages Market Report

Non-alcoholic Beverages Market Report Highlights

Asia Pacific is expected to contribute a majority of the share to become the largest division in the global revenue in 2021. The preference for healthier non-alcoholic beverages among consumers is increasing the demand for such beverages in the region
The bottled water segment is projected to register the fastest growth during the forecast period from 2022 to 2030
The retail distribution channel segment is expected to register faster growth during the forecast period. An increase in product availability by various brands in the hypermarkets, and supermarkets coupled with the increase in internet penetration is likely to bode well with the future segment growth

List of Key Players in the Non-alcoholic Beverages Market

Nestlé
PepsiCo
Unilever
Keurig Dr. Pepper Inc.
The Coca-Cola Company
Jones Soda Co.
Danone S.A.
Suntory Beverage & Food Ltd.
Asahi Group Holdings, Ltd.
Red Bull

Related Report
Alcoholic Drinks Market

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Non-alcoholic Beverages Market Segmentation

Grand View Research has segmented the global non-alcoholic beverages market based on product, distribution channel, and region:

Non-alcoholic Beverages Product Outlook (Revenue, USD Billion, 2017 - 2030)

Carbonated Soft Drinks
Water
Sports & Functional Drinks
Tea
Bubble/Sparkling Water

Non-alcoholic Beverages Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)

Food Service
Retail

Non-alcoholic Beverages Regional Outlook (Revenue, USD Billion, 2017 - 2030)

North America

U.S.
Canada

Europe

U.K.
Italy
Spain
France
Germany

Asia Pacific

Indonesia
Malaysia
Singapore
Thailand
China
Vietnam
Philippines

Central & South America

Brazil

Middle East & Africa

South Africa