Artificial Intelligence
Global Medical Information Markets 2020-2027: Increasing Demand for New Drug Development with the Emergence of Technologically Advanced Healthcare Solutions
Dublin, Oct. 13, 2020 (GLOBE NEWSWIRE) — The “Medical Information Market Size, Share & Trends Analysis Report by Service Provider (In House, Outsourcing), by Therapeutic Area, by Product Life Cycle, by Company Size, by End-use, by Region, and Segment Forecasts, 2020 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The global medical information market size is expected to reach USD 3.66 Billion by 2027. The market is projected to progress at a CAGR of 7.4% during the forecast period.
Increasing demand for new drug development coupled with the emergence of technologically advanced healthcare solutions, timely accessible information pertinent to healthcare products is anticipated to fuel the market growth.
Increasing healthcare expenditure and growing awareness about adverse drug events can increase the possibility of patients seeking medical information. Increase in adoption of social media for discussions on adverse events, ingredients, and other drug-related information.
The market expansion is a result of an increased number of clinical trials and due to the high prevalence of chronic diseases. Moreover, manufacturers of health products are outsourcing MI services to Contract Research Organizations (CROs) to limit the accountability of stringent regulatory compliances by working with a well-established outsourcing partner company. This helps them in reducing operational costs, regulatory compliance risk, and minimizing process delays.
The key factors attributing to the increased demand for outsourcing of medical information services are rising costs of pre-clinical research, drug development, clinical trials, and post-marketing surveillance. The healthcare sector is witnessing paradigm changes in the past decade, due to the depleting product pipeline, patent cliff, and regulatory constraints in new product development. This is expected to boost the adoption of contract outsourcing activities over the forecast period.
Rising drug development cost, high investments needed for drug discovery, clinical research, and post-marketing surveillance are some of the key contributors to the market growth. The medical sector is witnessing paradigm shifts over the last decade, owing to an increasing number of patent cliffs, regulatory constraints, and the depleting product pipeline.
Medical Information Market Report Highlights
- The contract outsourcing segment is anticipated to witness a lucrative CAGR of around 8.8% from 2020 to 2027 owing to the increasing number of manufactures opt for outsourcing their MI management activities to third party vendors in order to improve the return on investment, maintain product quality and cost, profitability, and to achieve capacity restrictions.
- Based on the therapeutic area, the immunology segment is projected to ascend at a revenue-based CAGR of 9.0% over the forecast period
- The clinical trial phase segment dominated the market with a revenue share of 47.0% in 2019, owing to the increasing number of clinical trials and pressure from regulatory bodies to meet standards and compliances
- The medium-sized companies’ segment is projected to expand at a CAGR of 7.7% to reach the value of USD 1.76 billion by 2027
- By end-use, biotechnology companies are anticipated to witness the fastest CAGR of around 8.1% over the forecast period. The increasing number of biologics in the market and a strong pipeline for innovative products are key attributing factors towards this segment’s growth
- Asia Pacific is projected to showcase a considerable CAGR of around 7.9% due to the presence of a large number of outsourcing organizations. Consequentially, there is improved productivity, cost-efficiency, and resource sharing, which is further anticipated to propel demand
- India and China are the key hubs for the life sciences outsourcing market. The abundant availability of low-cost and high-skilled labor, land, and other resources in this region provides a competitive advantage in terms of production costs and the back-end processing of several services
- The medical information industry is highly competitive and diverse with many numbers of the small, medium, and large scale enterprises vying for the market share
- Collaboration with CROs provides access to cutting-edge services, therefore, manufacturers, government organizations prefer assigning projects to them. This is expected to propel the demand for outsourcing MI services in coming years
Key Topics Covered:
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Medical Information Market Variables, Trends & Scope
3.1 Medical Information Market Dynamics
3.1.1 Market driver analysis
3.1.1.1 strategic initiatives by market players
3.1.1.2 increasing Adoption of artificial intelligence followed by growing demand for healthcare information systems in the healthcare organizations
3.1.1.3 outsourcing of medical information services
3.1.2 Market restraint analysis
3.1.2.1 data security and privacy concerns
3.1.2.2 issues with interoperability and high cost of integration
3.2 Regulatory Framework
3.2.1 Standard & Compliance
3.3 Medical information Market Analysis Tools: Porters
3.4 SWOT Analysis, by Factor (Political & Legal, Economic, and Technological)
Chapter 4 Pricing Analysis
4.1 Organization Structure Introduction
4.2 Pricing Models
4.2.1 Medical Affairs Budget allocation by activities
4.2.2 Pricing Level
4.2.2.1 Medical writing
Chapter 5 Emerging Trends in Medical Information Market
5.1 Artificial Intelligence, Machine Learning/Automation
5.2 Big Data and Analytics
5.3 Speech & Video Analytics
5.4 IoT
5.5 Cloud
5.6 Blockchain
Chapter 6 Medical Information Market: Competitive Analysis
6.1 Innovators
6.2 Public Companies
6.2.1 Company market share analysis
6.2.2 Vendor Landscape
6.3 Major Deals & Acquisitions
Chapter 7 Medical Information Market: Service Provider Estimates & Trend Analysis
7.1 Service Provider Market Share Analysis, 2019 & 2027
7.2 Service Provider Dashboard
7.2.1 In House
7.2.2 Contract Outsourcing
Chapter 8 Medical Information Market: Therapeutic Area Estimates & Trend Analysis
8.1 Therapeutic Area Market Share Analysis, 2019 & 2027
8.2 Therapeutic Area Dashboard
8.2.1 Oncology
8.2.2 Neurology
8.2.3 Cardiology
8.2.4 Immunology
8.2.5 Others
Chapter 9 Medical Information Market: Company size Estimates & Trend Analysis
9.1 Company Size Market Share Analysis, 2019 & 2027
9.2 Company Size Dashboard
9.2.1 Small
9.2.2 Medium
9.2.3 Large Scale
Chapter 10 Medical information Market: Product Life Cycle Estimates & Trend Analysis
10.1 Product Life Cycle Market Share Analysis, 2019 & 2027
10.2 Product Life Cycle Dashboard
10.2.1 Preclinical
10.2.2 Clinical
10.2.3 Post Market Approval
Chapter 11 Medical Information Market: Category Estimates & Trend Analysis
11.1 Category Market Share Analysis, 2019 & 2027
11.2 Category Dashboard
11.2.1 Pharmaceuticals
11.2.2 Biotechnology companies
11.2.3 Medical device manufacturers
Chapter 12 Medical Information Market: Regional Estimates & Trend Analysis by Segments
12.1 Regional Market Snapshot
12.2 Market Share Analysis by Country, 2019
Chapter 13 Company Profiles
13.1 Company overview
13.2 Financial performance
13.3 R&D expenditure
13.4 Geographic foothold
13.5 Organization structure & Team Composition
13.6 Platform benchmarking
13.7 Strategic initiatives
13.8 SWOT Analysis
- McKesson Corporation
- Parexel International Corporation
- IQVIA
- C3i Solutions, HCL Technologies Company
- PrimeVigilance
- ProPharma Group
- Accenture
- Cognizant
- Infosys Limited
- PharmCentre
For more information about this report visit https://www.researchandmarkets.com/r/uwy0zc
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Artificial Intelligence
Cyber insurtech BOXX partners with Zurich Insurance Group in Switzerland to introduce breakthrough personal cyber product
TORONTO, May 21, 2024 /PRNewswire/ — Award-winning global Insurtech BOXX Insurance Inc. that combines cyber insurance and security has announced the launch of a cutting-edge cyber risk solution in collaboration with Zurich Insurance Group in Switzerland, providing digital protection for individuals and families.
Recognizing the critical need for comprehensive protection against digital threats Zurich Insurance in Switzerland has partnered with technology partner BOXX Insurance to develop a user-friendly solution designed to help individuals and families better predict and prevent potential scams and digital threats.
Designed for simplicity, the app’s personalized experience puts users’ digital safety front and centre, featuring an easy-to-use interface designed by Zurich Insurance in Switzerland and developed by BOXX in close collaboration with Zurich. The App is now available in Switzerland offering support in English, German, French and Italian.
“We created this to give individuals and families what they want – an app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency,” explained Vishal Kundi, CEO and Founder, BOXX Insurance. “Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured,” Kundi added.
“An extensive research conducted by Zurich Insurance in Switzerland showed that many are not aware of online dangers and that around a quarter have already been victims of a cyber-attack. In addition, customers are simply overwhelmed with the range of cyber products,” says René Harlacher, Chief Underwriting Officer of Zurich Insurance in Switzerland. “At Zurich, it’s our mission to go beyond mere protection, and also offer our customers tools to help them build resilience and implement preventative measures against cyber risks. Based on these facts, we are expanding our cyber offering for private individuals so that we can provide them with support before, during and after a possible cyber-attack. This is exactly where our joint offering with BOXX Insurance comes in, as a way to lend additional support to our customers,” he adds.
The newly launched solution by Zurich Insurance in Switzerland focuses on providing essential services to help prevent digital threats combined with emergency assistance and support in case of an emergency. Delivered to end customers by Zurich, key features include:
Identity Protection: Identifies if personal data captured in the app shows up on the dark web and notifies users, providing help and advice to reduce threats of identity theft.Secure VPN: By creating a secure and encrypted internet connection the VPN protects data from potential threats such as hacking, identity theft, and phishing attacks. Secure WiFi: Scans WiFi networks for threats and helps proactively detect security issues.Safe Browsing: Warns against harmful websites and links to protect privacy and personal data.Device Protection: Checks and improves the security settings of devices. Devices with the Android operating system are additionally protected against viruses and malware.Password Manager: Creates and manages strong passwords and assists with their use.Edutainment: Educational content in an entertaining way to raise awareness of personal cyber security.Emergency Support and Assistance: Help and assistance from cyber security experts to provide support in cyber emergencies and for many other IT-related problems. The new offering is available here: https://www.zurich.ch/en/private-customers/living-events/cyberprotection/insurance-prevention
“From providing protection from the dangers of being connected at home and on the go, customers now have the means to keep their devices and data secure and have access to indispensable help in an emergency, all in one easy-to-use app,” Kundi added.
Zurich has been working with BOXX since 2021 and participated in BOXX’s Series A and Series B funding rounds. As a Zurich Global Ventures portfolio company, BOXX is proud to now extend the ongoing collaboration with Zurich to enable Swiss customers to be digitally safer.
About BOXX Insurance
BOXX Insurance Inc. helps businesses, individuals and families insure and defend against cyber threats. Privately-held with headquarters in Canada, BOXX has global offices in Toronto, Miami, Zurich, Dubai and Mumbai.
BOXX Insurance is an award-winning global cyber protection and insurance provider. We’re not a typical company. That’s by design. We’re serious about making the world a digitally safer place; creating real, positive changes for our clients and partners, and building a lasting legacy, from what we create, inside the BOXX.
Every day we’re improving the digital health of businesses, families and individuals around the world who rely on BOXX’s solutions and services to predict, prevent and insure them against cyber threats.
Media Contact: Sarah Madden, [email protected]
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Artificial Intelligence
Amp Finalises Commercial Agreements for Cape Hardy Advanced Fuels Precinct
ADELAIDE, Australia, May 21, 2024 /PRNewswire/ — Amp Energy (“Amp” or the “Company”) announced today it has finalised all required commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of the leading green hydrogen, green ammonia and advanced fuel projects in Australia. The agreements, which were executed with Iron Road Ltd, include the purchase of a 630-hectare parcel of land at Cape Hardy as well as finalised royalty structure and common user infrastructure agreement. Amp will continue to build upon development progress made since announcing the Strategic Framework Agreement with Iron Road Ltd in April 2023 to bring advanced fuel production capacity to Cape Hardy.
The Cape Hardy Advanced Fuels Precinct will provide production at scale with up to 10 GW of planned electrolyser capacity. Development will be structured to initially bring 1 GW online with incremental stages to reach 10 GW of total capacity. The project will both cater to the domestic Australian market, supporting the Australian Government’s net zero goals, while also featuring global export capabilities. To facilitate distribution, Cape Hardy will be equipped with Australia’s first purpose-built advanced fuels export terminal.
Amp has been in discussions to develop the Cape Hardy Advanced Fuels precinct, in collaboration with Iron Road Ltd and The Government of South Australia, for the past two years. During that time, Amp has made significant development progress. The project’s concept, design, and pre-Front End Engineering Design (FEED) phase have been studied and reviewed by two leading global engineering firms, Arup and Technip Technologies, as Amp targets completion of pre-FEED studies for the first 1 GW electrolyser phase over the next 9 months. FEED scoping and contracting is currently underway ahead of awarding the FEED contract in late 2024 or early 2025.
Desalinated water is to be sourced from the recently announced Northern Water Supply (NWS) seawater desalination plant that will be located at Cape Hardy to meet the project’s demand for electrolyser feed water, cooling water, process plant water, and fire water. Amp is co-funding pre-FID expenditures for the NWS project.
Additionally, Amp is working closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”). With continued support from the BDAC, Amp is confident the Cape Hardy Advanced Fuels Precinct will have a meaningful economic impact on the region. Amp currently estimates this will include approximately 4,000 direct and 6,000 indirect jobs for the first gigawatt of electrolyser capacity alone.
“We are seeing growing demand for Advanced Fuels both in Australia and abroad. This includes green ammonia, liquid hydrogen, methanol, and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will allow for large-scale production of these fuels that will be critical to the energy transition and achieving net zero targets. We could not be more excited about the project’s potential impact, and we are grateful for the partnership and continued support from Iron Road Ltd, the South Australian Government and BDAC as we progress full steam ahead on development” said Paul Ezekiel, Amp President and Co-founder.
Minister for Trade and Investment, Joe Szakacs said “The State Government recognises the strategic importance of the Cape Hardy Advanced Fuels Precinct attracting investment into the state for domestic and export opportunities, as there is an increasing flight to quality for hydrogen projects worldwide.”
About AmpAmp Energy is a global energy transition development platform, which delivers renewables, battery storage, Advanced Fuels and green AI data centers at scale, together with proprietary AI-enabled grid flexibility through its Amp X platform. Since its inception 15 years ago, Amp has developed and built or contracted 14 GW of assets globally. Amp is backed by major investments from institutional capital partners including global private equity firm the Carlyle Group, who has invested over US$440 million. The company has global operations throughout North America, the UK, Australia, Japan, and Spain.
For more information, please visit amp.energy
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Artificial Intelligence
GEEKOM A8 AI PC is now available for €799 and up.
TAIPEI, May 21, 2024 /PRNewswire/ — The GEEKOM A8, a highly anticipated Next-Gen AI mini PC with an AMD HawkPoint Ryzen 8040 processor, is now available.
The A8 employs a metal housing with rounded corners and anodized matte finish, giving it a gorgeous and stylish look. Having a footprint smaller than the palm of a hand, the mini PC will conveniently fit in all types of desktop arrangement and instantly elevate the aesthetics of any workspace.
There are two variants of the GEEKOM A8, users have the option to choose between two processors from the same AMD HawkPoint family: Ryzen 7 8845HS and Ryzen 9 8945HS. Both chips feature 8 Zen 4 CPU cores, 16 threads, 16MB L3 cache, an AMD Radeon 780M integrated GPU as well as a Ryzen AI Engine NPU, but the Ryzen 9 8945HS is designed to offer slightly better performance, thanks to its higher CPU and GPU frequencies.
With a greatly enhanced NPU, the A8 can execute 60% more AI workloads than mini PCs with last-generation Ryzen 7040 chips, allowing users to embrace a new era of AI computing. For average consumers, the A8 will quickly find answers to all questions and turn texts into images and videos. For business users, the A8 will automatically summarize notes, transcribe calls, and take meeting minutes. For professional content creators, the A8 will bring much faster AI-powered photo editing, quicker video output, and speedier multi-tasking, helping bring the most ambitious ideas to life. With the new IceBlast 1.5 cooling technology, the A8 can stay cool and stable even when tasks are loaded.
Besides its powerful performance, the A8 also offers a wide array of ports, including four USB-A (including three USB3.2 Gen2), two HDMI2.0, a 40Gbps USB4, a multi-function Type-C, an SDXC slot, and a 3.5mm audio jack. Users can choose to connect the mini PC to an eGPU, ultra high-speed portable storage, or up to four 4K displays.
The A8 is now available on GEEKOM’s independent website. The 8845HS and 8945HS variants are priced at €799 and €949 respectively. Regardless of the CPU option, each unit is preinstalled with 32GB dual-channel SO-DIMM DDR5-5600 RAM, a fast 1TB M.2 2280 PCIe4.0*4 SSD, a wireless card that supports WiFi 7 and Bluetooth 5.4, and a licensed copy of Windows 11 operating system.
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