Artificial Intelligence
Medical Imaging Market Valuation to Reach USD 45,719.65 Million by 2025 at 6.52% CAGR, Estimates Market Research Future (MRFR)
Pune, India, Feb. 04, 2021 (GLOBE NEWSWIRE) — Medical Imaging Market Overview:
Medical Imaging Market Size to cross USD 45,719.65 Million by 2025, at a growth rate of 6.52% over the review period (2016 to 2025), evaluates Market Research Future (MRFR).
Medical imaging is a modern technique of developing a visual representation of the body’s interior for clinical assessment as well as medical intervention. It also involves visually understanding the functions of a few tissues or organs. Medical imaging helps reveal the entire internal structure that is generally under the bones and the skin, which in turn helps detect and treat the particular disease. This technique also helps design a database of the anatomy to boost the possibility of identifying abnormalities, if any.
Over the years, the Medical Imaging Market has gained significant traction worldwide, stimulated by the frequent advancements in digital as well as communication technologies. The latest imaging techniques that help detect tiny anatomical details are easily available in a majority of hospitals and diagnostic labs. The primary aim is to bolster precision and access, reduce cost, and bring down the harmful effects of the radiation.
Latest Trends Post COVID-19 Outbreak:
The COVID-19 pandemic has been spreading worldwide at a dramatic pace, in turn, boosting the need for effective medical imaging equipment. Medical imaging to detect novel coronavirus has resulted in a shortage of a number of devices. Apart from the supply-based challenges, the market is facing issues in the form of limited penetration rate of healthcare across numerous regions, especially in underdeveloped countries.
However, with the escalating number of SARS-CoV-2 cases, governments are doing everything in their capacity to ramp up medical imaging and other healthcare procedures. They are focusing on making available a wider range of equipment for faster detection of COVID-19. The World Health Organization has come up with several strategic measures as part of the response and preparedness plan, which could be favorable for the global medical imaging industry in the years to follow.
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Key Players Locking Horns:
Some of the top companies profiled in the MRFR report include:
- Canon Medical Systems Corporation (Japan)
- Siemens AG (Germany)
- Hologic, Inc. (US)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China)
- Koninklijke Philips N.V. (Netherlands)
- CMR Naviscan (US)
- General Electric Company (US)
- FUJIFILM Holdings Corporation (Japan)
- Carestream Health (US)
- Samsung (South Korea)
- Medtronic PLC (Ireland)
- Esaote S.p.A (Italy)
- Analogic Corporation (US)
- Hitachi Ltd (Japan)
- Shimadzu Corporation (Japan)
- Koninklijke Philips N.V.
The medical imaging industry is rife with a huge number of business giants that are involved in competitive strategies like new launches, collaborations, acquisitions and mergers as well as agreements, with the aim to seize a higher position. This has resulted in an intensely competitive ambience in the global molecular diagnostics industry.
To cite a reference, in January 2021, NANO-X IMAGING LTD, a well-known medical imaging technology firm, extended its collaborative deal with USARAD Holdings Inc., a US-based telemedicine and teleradiology company, to design a radiology diagnostics service. This service combines more than 300 highly skilled radiologists with AI-backed algorithms as well as solutions.
Another factor fostering the intensity of the rivalry in the market is the rising number of FDA approvals, which encourage the firms to focus more on new launches. For instance, in January 2021, Boston Scientific Corporation was granted the approval from USFDA for its latest Vercise Genus Deep Brain Stimulation System to be used in a magnetic resonance imaging environment. The new system has Bluetooth-supported, implantable, rechargeable as well as non-rechargeable pulse generators.
Browse In-depth Market Research Report (199 pages) on Medical Imaging Market: https://www.marketresearchfuture.com/reports/medical-imaging-market-1995
Future Market Growth Factors:
The medical imaging market has maintained a significant traction over the years and can continue to do in the years ahead, thanks to the soaring demand for faster, early-stage detection of chronic ailments, especially among the burgeoning geriatric pool. Besides, the surging frequency of technical advances, rise in investments by the government, particularly in China and India and continuous launch of new equipment and services by leading contenders also add value to the regional market. To illustrate, in January 2021, Fujifilm confirmed its plan to launch an advanced medical imaging service in India in February. This service will focus on detecting the signs of various lifestyle diseases and cancer, with the use of the company’s state of the art medical tools as well as artificial intelligence-based diagnostic technology.
Other growth rendering factors include the surge in supportive FDI policies, conducive business scenario, and the soaring awareness level about the latest imaging technologies. Moreover, the emergence of teleradiology services has facilitated improvement in worldwide networking of medical expertise, compensating for the lack of skilled radiologists in a few countries across the globe.
Segmentation:
Modality, Application and End-user are the top market segments mentioned in the MRFR report.
Modality-wise, the key segments are Nuclear Imaging, Magnetic Resonance Imaging (MRI), X-Ray Systems, Computed Tomography (C.T.), Ultrasound Systems and more. The top segment is expected to be X-ray systems, with firms fostering their R&D activities to drive the availability of CT scanners that are more affordable and sustainable. Many of the companies are seeking opportunities to design improved x-ray systems that facilitate highly detailed images but at a reduced cost.
Applications profiled in market study are neurology, oncology, cardiology, and others. The cardiology segment will be the highest contributor to the market growth during the course of the review period. Oncology involves the detection as well as treatment of cancers and tumors, which are responsible for the high morbidity and mortality rates worldwide. Among both women and men, breast, colorectal and lung cancers are quite prevalent. Therefore, the application of medical imaging in oncology segment is quite extensive.
Top end-users in the global industry are diagnostic centers, hospitals and clinics, research organizations and academic institutes. Out of these, the clinics and hospitals segment has procured the top spot in the market, on account of the escalating demand for the latest imaging modalities along with the rising use of medical imaging technologies in surgical suits.
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Regional Status and Challenges:
Geographically, the medical imaging market has been split into Europe, the Americas, the Middle East & Africa or MEA and Asia Pacific or APAC.
America is the highest revenue generating market; the reason being the stunning progress made in the healthcare industry, especially the technical advances in diagnostic devices and the mounting awareness among the medical professionals. The large-scale funding allocated for research and development activities, particularly in oncology along with the grants given by the government to the healthcare agencies. The US and Canadian medical imaging market are expected to gain the leading positions in the region, in view of the favorable insurance/reimbursement scenario.
Europe remains the second market leader owing to the dramatic surge in the number of cancer cases in recent years, a factor that fosters the need for advanced medical imaging equipment. Another growth booster in the regional market can be the presence of modern medical facilities, burgeoning aging patient base, and the rising prevalence of a number of chronic ailments.
The APAC market will be the fastest emerging market in the following years, thanks to accelerated incidence of several chronic diseases along with the rampant need for innovative medical imaging devices. Japan has taken the lead in the Asia Pacific market, while South Korea has also emerged as a lucrative market in the region, given the soaring number of large-scale manufacturing units that facilitate lower priced diagnostic units.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact: Market Research Future Phone: +1 628 258 0071(US) +44 2035 002 764(UK) Email: [email protected] Website: https://www.marketresearchfuture.com
Artificial Intelligence
DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions
Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizationsDeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.
“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:Sebastian RiesOpeners [email protected]+49 1578 058 8488
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Artificial Intelligence
Hyundai Motor and Plus Announce Collaboration to Demonstrate First Level 4 Autonomous Fuel Cell Electric Truck in the U.S.
Hyundai Motor and Plus collaboration aims to enhance road safety and freight efficiencies by demonstrating benefits of XCIENT Fuel Cell truck equipped with Plus’s Level 4 autonomous driving softwareHyundai Motor’s Class 8 XCIENT Fuel Cell truck featuring Plus’s Level 4 SuperDrive™ system is on display at the Plus ACT Expo booth (#2044)LAS VEGAS and SEOUL, South Korea, May 22, 2024 /PRNewswire/ — Hyundai Motor Company (Hyundai Motor) and autonomous driving software leader Plus today unveiled the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S. at the Advanced Clean Transportation (ACT) Expo, the largest advanced clean transportation technology and fleet event in North America.
A result of the collaboration between Hyundai Motor and Plus, Hyundai Motor’s XCIENT Fuel Cell truck, equipped with Plus SuperDrive™ Level 4 autonomous driving technology, is on display at the Plus ACT Expo booth (#2044).
The Level 4 autonomous XCIENT Fuel Cell truck is undergoing initial autonomous driving assessments in the U.S., making it the first-ever Level 4 self-driving test on a Class 8 fuel cell electric truck to take place in the country. The collaboration seeks to show that autonomous hydrogen fuel cell trucks can help make trucking safer, more efficient, and more sustainable.
“We are excited to showcase our collaboration with Plus to test Level 4 autonomous driving technology with our Class 8 XCIENT Fuel Cell truck,” said Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development at Hyundai. “Hyundai Motor has been driving the energy transition paradigm with our advanced fuel cell technologies. By adding autonomous capabilities to our world’s first mass-produced hydrogen-powered XCIENT Fuel Cell truck, Hyundai is looking forward to providing fleets and vehicle operators additional solutions that enhance road safety and freight efficiencies thanks to Plus’s industry-leading autonomous driving technology.”
First introduced in 2020, Hyundai Motor’s XCIENT Fuel Cell truck has conducted commercial operations in eight countries worldwide, establishing a successful track record of real-world applications and technological reliability.
At last year’s ACT Expo, Hyundai introduced XCIENT Fuel Cell tractor, the commercialized Class 8 6×4 fuel cell electric model, powered by two 90kW hydrogen fuel cell systems and a 350kW e-motor, providing a driving range of over 450 miles per charge even when fully loaded.
Plus’s SuperDrive™ solution is being deployed across the U.S., Europe, and Australia. The system uses a combination of cutting-edge sensors, including LiDAR, radar and cameras, to provide surround perception, planning, prediction and self-driving capabilities.
“We are thrilled to collaborate with Hyundai Motor Company on this important initiative to create more sustainable and safe transportation options. A decarbonized future with autonomous hydrogen fuel cell electric trucks that also improve safety and efficiency is one that Plus is proud to support with our cutting-edge autonomous driving technology,” said Shawn Kerrigan, COO and Co-Founder at Plus.
Hyundai Motor and Plus have released a video highlighting their collaboration, which can be seen here: https://www.youtube.com/watch?v=_d19h_v7abo.
About Hyundai Motor Company
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
About Plus
For more information, visit http://www.plus.ai/.
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Artificial Intelligence
GIGABYTE Showcases AI and User-Friendly Innovative Technology at COMPUTEX 2024
TAIPEI, May 22, 2024 /PRNewswire/ — GIGABYTE, the world’s leading computer brand, is poised to captivate audiences at this year’s COMPUTEX with its latest offerings. From user-friendly designs to groundbreaking advancements in AI, visitors can expect a truly immersive experience across GIGABYTE and AORUS product lines such as motherboards, graphics cards, gaming monitors, and gaming laptops. As the world enters a new era of AI, GIGABYTE’s presence at COMPUTEX hints at exciting developments in the realm of AI, promising visitors a glimpse into the future of computing.
GIGABYTE will showcase cutting-edge features across its product lineup at COMPUTEX 2024. The AI Laptops including AORUS 17X and AORUS 16X steal the spotlight with the exclusive GIGABYTE AI Nexus, featuring three functions including AI Boost, enhancing performance as per specific scenarios, AI Generator for quick startups with generative AI utilities, and AI Power Gear that intelligently conserves battery life by optimizing power consumption. Additionally, the GIGABYTE GeForce RTX 40 SUPER series graphics cards are engineered to provide intense gaming and reliable AI computing power across a diverse range of applications. Complementing these advancements, the OLED Monitor series such as AORUS CO49DQ, integrates AI algorithms to introduce OLED CARE, including six key features designed to minimize burn-in risks on OLED screens and extend the screen’s lifespan.
In terms of user-friendly designs, GIGABYTE presents innovations like the EZ-Latch and Stealth Design on motherboards, streamlining PC assembly with quick and convenient installations while ensuring a clean appearance through efficient cable management. The LCD Edge View across various components like AORUS GeForce RTX 4080 SUPER MASTER enables real-time monitoring of PC performance and customizable display options. Furthermore, the GIGABYTE Arm Edition gaming monitors are equipped with ergonomic monitor mounts designed to cater to various usage environments from PC gaming, console gaming, to even streaming media, realizing the true 4K entertainment. Within the GIGABYTE OLED Gaming Monitor series, the Tactical Switch feature optimizes gaming by instant switching to a 24-inch size, 1080p resolution with a single click, specifically designed for first-person shooter games.
Additionally, GIGABYTE is proud to showcase multiple Red Dot 2024 award-winning products, including the Z790 AORUS XTREME X, Z790 AORUS MASTER X, Z790 AORUS PRO X, X670E AORUS PRO X motherboards, AORUS FO32U2P, GIGABYTE MO34WQC2 gaming monitors, and AORUS C400 GLASS gaming chassis. For more information, please visit the official GIGABYTE website at: https://bit.ly/GIGABYTE_COMPUTEX_2024
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