Artificial Intelligence
Aortic Aneurysm Market worth US$ 4.23 Billion in 2031: Visiongain Research Inc.
Visiongain has published a new report on Aortic Aneurysm Market Report 2021-2031: Forecasts by Type (TAA, AAA), by Product (Stent Grafts, Catheters), by Treatment (EVAR, OSR), by End User (Hospitals & Clinics, ASCs) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Aortic Aneurysm Companies AND COVID-19 Recovery Scenarios.
According to Visiongain’s lead analyst: ‘The global abdominal aortic aneurysm (AAA) segment accounted for the largest market share and is estimated to be valued at US$ 2.00 billion in 2020. The segment is expected to witness a CAGR of 7.6% from2021 to 2026 and is expected to reach US$ 3.15 billion in 2026 from its previous value of US$ 2.19billion in 2021. Visiongain further anticipates that the segment will reach US$ 4.23 billion in 2031 while growing at a CAGR of 6.8% from 2021 to 2031’.
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This growth can be attributed to the high tobacco smoking prevalence in the developed and developing region, rise in elderly population coupled with the rising incidence of AAA, and growing emphasis on the benefits of AAA screening. However, expensive surgical repair of AAA and inadequate reimbursement for each reintervention after EVAR are some of the factors restraining the growth of the aortic aneurysm market. Aneurysms previously considered inoperable can be repaired by new 3D technology and innovative AAA devices provide patients and physicians with a new, less invasive option are some of the revenue pockets for the major companies in aortic aneurysm market globally.
COVID-19 Impact on Aortic Aneurysm Market
The ongoing COVID-19 pandemic is putting a huge strain on health-care systems around the world, forcing even the most established hospitals to reconsider their treatment options. Due to a lack of available intensive care unit (ICU) beds, most medical centers have restricted or cancelled elective surgical procedures entirely. Endovascular repair is without a doubt the treatment option in the unfortunate event of a ruptured AAA (rAAA) and/or concomitant COVID-19 infection, as identified in other recent guidelines.
Market Drivers
High tobacco smoking prevalence in the developing and developed countries
Smoking significantly raises the risk of AAA. The risk is proportional to the number of years spent smoking and the number of years spent smoking after quitting. Tobacco use harms nearly every organ in the body and is the leading cause of preventable death. In 2016, smoking was responsible for more than 7.1 million deaths worldwide (12.5 percent of all deaths). According to the WHO, tobacco will kill 8 million people every year by 2030. Tobacco is estimated to have killed around 40 million people in the developed world between 2005 and 2030. This number is more than three times higher in the developing world, at around 135 million. Although smoking prevalence is declining in some LMICs (Low- and Middle-Income Countries), the developing world’s relatively high population growth means that the number of smokers, and thus the number of deaths and diseases caused by smoking, will continue to rise.
Rise in geriatric population
Abdominal aortic aneurysm (AAA) is uncommon in people under the age of 60. AAA affects about one out of every 1000 people between the ages of 60 and 65, and the number continues to rise as people get older. AAAs are found in 2 to 13% of men and 6% of women over the age of 65, according to screening studies. However, nearly 90% of aneurysms discovered through screening are small (less than 3.5 cm in diameter) and unlikely to rupture.
According to the 2019 Revision of the World Population Prospects, by 2050, one in six people will be over the age of 65 (16%), up from one in eleven in 2019. (9 percent). By 2050, one in every four people in Europe and North America will be 65 or older. For the first time in history, people aged 65 and up outnumbered children under the age of five on a global scale in 2018. The number of people aged 80 and up is expected to triple by 2050, from 143 million in 2019 to 426 million.
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The importance of AAA screening is becoming more widely recognized
The high prevalence of infrarenal AAA in subgroups of patients, as well as its asymptomatic course until rupture, demonstrate the importance of screening. Ultrasonography is an excellent tool for screening and surveillance that is both risk-free and inexpensive. In the multicenter aneurysm screening study, over 67,000 male subjects aged 65 to 74 years were randomized for ultrasound screening for infrarenal AAA and subsequent surgical treatment of aneurysms larger than 54 mm.
Market Opportunities
New 3D technology can now repair aneurysms that were previously thought to be inoperable
Repairing a thoracoabdominal aortic aneurysm is a difficult procedure that can be fraught with complications. Contrast dyes, which are required to identify the locations of major vessels that originate near or from life-threatening arterial bulges, cause renal problems in up to 25% of vascular patients.
Surgeons at UC San Diego Health are using a new imaging technology that uses artificial intelligence and machine learning to reduce the need for contrast agents, the time spent in surgery, and the risk of post-operative kidney complications. UC San Diego Health is one of the first health-care systems in the country to use the software. In traditional endovascular aortic aneurysm repair, surgeons use contrast dyes to reveal the size and scope of the aneurysm, then use X-rays to guide a plastic or fabric-coated metal tube stent graft to the weakened section of the arterial wall to prevent it from tearing.
The new Dynamic Morphology Correction technology, developed by Cydar Medical in the United Kingdom, allows surgeons to work more precisely and quickly with less contrast dye. Rather, surgeons rely on dynamic 3D image overlays of the human body, which are created using computerized prediction models based on the patient’s pre-operative X-ray and anatomy. The models allow surgeons to reduce iodine contrast and its risk to the kidneys, lower radiation exposure during surgery, and spend less time on the operating table.
Patients and doctors now have a new, less invasive option for AAA treatment thanks to innovative AAA devices
Patients and doctors now have a new, less invasive option with the AAA device. Cordis Corporation has released the INCRAFT AAA Stent Graft System (INCRAFT System), an ultra-low-profile endovascular aneurysm repair (EVAR) device for patients with infrared abdominal aortic aneurysms (AAA). The INCRAFT System has been approved for use in Europe and Canada, and it is now available for purchase. This device is a step forward in the field of EVAR, and it offers a new option for patients and doctors looking for a less invasive way to treat AAA.
The INCRAFT system is an appealing new EVAR device option because of its ultra-low-profile design and customization, which allows doctors to consider this less invasive procedure for many patients, especially those with smaller vasculature who might be ineligible for EVAR otherwise. The INNOVATION Trial in Europe on the INCRAFT system recently published two-year data that showed excellent performance by adding supporting scientific data to the device. With the launch of the INCRAFT System, Cordis is bringing an innovative advancement to the EVAR field while also entering a growth segment that diversifies the company’s strong product portfolio.
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Competitive Landscape
Some of the companies profiled in the report include Medtronic plc, W.L. Gore & Associates, Inc., JOTEC GmbH, Cook Medical, Cardinal Health, Inc., Terumo Corporation, and Cardiatis. For example, Terumo Corporation decided to buy Aortica Corporation, a company based in the US dedicated to advancing the science of personalized vascular therapy, in November 2019. During Fenestrated Endovascular Aortic Repair, Aortica developed AortaFit, an automated case planning software that precisely matches fenestrations on an endograft with the unique locations of each individual patient’s branch arteries (FEVAR). Endovascular treatment of complex abdominal aortic aneurysms can result in endoleaks and migration, so the new technology aims to improve graft anchoring while reducing the risk of endoleaks and migration (AAA). Terumo Aortic will be able to accelerate the development of a first-in-class, purpose-built FEVAR System because of this acquisition, particularly in the US. This will help the company to transform vascular disease management in this difficult patient population by combining the AortaFit System and BoulEVARd covered stent graft with the proven capabilities of TREO.
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Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.
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Artificial Intelligence
Voyager Space Awarded by NASA’s Marshall Space Flight Center to Develop New Airlock Concept
DENVER, May 14, 2024 /PRNewswire/ — Voyager Space (Voyager), a global leader in space exploration, today announced the company has been awarded a Collaborative Announcement Notice (CAN) by NASA’s Marshall Space Flight Center (MSFC) for the joint development of an airlock for the Mars Transit Vehicle, also referred to as Deep Space Transport. This cost-sharing cooperative agreement with NASA is intended to complement the technology development interests of MSFC while also supporting the advancement of Voyager’s technology and critical infrastructure capabilities.
This 12-month study, which will begin this month, will utilize resources from both Voyager and the Habitation team at MSFC to evaluate the extensibility of Voyager’s Bishop Airlock design to the Mars Transit Vehicle architecture. Named the “Red Knight,” this new airlock will leverage the flight-proven heritage of the Bishop Airlock to meet the challenges of deep space, provide support to, and enhance safety of the Mars Transit crew, and unlock unparalleled in situ science opportunities.
“The Voyager Exploration team continues to accomplish great things with the Bishop Airlock and we look forward to exploring how our technology and experience will translate to similar successes with Red Knight,” said Marshall Smith, Chief Technology Officer of Voyager Space. “Through this partnership with NASA, we believe that the possibilities for deep space exploration activities on Mars are endless and we are excited to be a part of history.”
The Bishop Airlock, owned and operated by Voyager, is the first permanent, commercial addition to the International Space Station and offers 5 times the payload volumes of previous airlocks on the Space Station. Bishop, the inspiration for Red Knight, has recently completed numerous on-orbit activities including the successful installation of GITAI’s S2 robotic arm and the relocation of the self-built Gambit payload.
Future airlocks, including Red Knight, will be vital in facilitating more efficient movement of equipment, internal and external research, satellite and trash deployment, and maintenance aboard space stations and spacecraft to support science and planetary exploration missions, technology demonstrations and more.
About Voyager SpaceVoyager Space is dedicated to building a better future for humanity in space and on Earth. With over 35 years of spaceflight heritage and over 2,000 successful missions, Voyager is powering the commercial space revolution. Voyager delivers exploration, technology, and defense solutions to a global customer base that includes civil and national security agencies, commercial companies, academic and research institutions, and more.
Cautionary Statement Concerning Forward-Looking StatementsThis press release contains “forward-looking statements.” All statements, other than statements of historical fact, including those with respect to Voyager Space, Inc.’s (the “Company’s”) mission statement and growth strategy, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Readers should not place any undue reliance on forward-looking statements since they involve these known and unknown uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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Artificial Intelligence
LEO Satellite Market worth $23.2 Billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 14, 2024 /PRNewswire/ — The LEO satellite market is projected to grow from USD 12.6 billion in 2024 to USD 23.2 Billion by 2029, at a CAGR of 13.0% from 2024 to 2029 according to a new report by MarketsandMarkets™. The market growth can be attributed to the growing need for earth observation imagery and analytics.
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Browse in-depth TOC on “LEO Satellite Market”
312 – Tables71 – Figures383 – Pages
LEO Satellite Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 12.6 billion
Estimated Value by 2029
$ 23.2 billion
Growth Rate
Poised to grow at a CAGR of 13.0%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Satellite Type, Application, Subsystem, End Use, Frequency and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Concerns over increasing space debris
Key Market Opportunities
Booming 3D printing technology
Key Market Drivers
Rising demand for satellite internet services
The LEO satellite market holds a huge potential for data service providers, satellite service providers, remote sensing service providers, technical service providers, and investors. Versatility, low cost, advanced mechanics, ease of assembly and launch, mass production, and short lifecycles have driven investments in LEO satellites. The amount of satellite data and range of applications for data will continue to grow in the future as new technologies develop and more satellites become operational.
The adoption of off-the-shelf CubeSats and reusable rocket technology is also expected to fuel market growth. The market is growing due to the demand for higher bandwidth internet. If the current satellite internet proposals become a reality, as many as 50,000 satellites will be orbiting in LEO within 10 years. However, space debris caused by LEO satellites and some regulatory challenges are expected to hinder market growth.
The LEO satellite market report includes small satellites (1–500 kg), medium satellites (500–1,000 kg), and large satellites (more than 1,000 kg). These satellites are used for communication, earth observation & remote sensing, mapping & navigation, scientific research & exploration, surveillance & security, space observation, and various other applications by defense, intelligence, civil, commercial, and government users. The continuous miniaturization of satellites through technological advancements in electronics, low mission costs, and increasing use of satellite constellations (containerization) are major drivers for the growth of this market. LEO satellites are also considered disruptive technology by several space organizations.
Based on satellite mass, the small satellite segment dominates the market in the base year
In terms of satellite mass, the LEO satellite market is divided into four main categories: small satellites, medium satellites, CubeSats, and large satellites. Small satellites are replacing large-sized satellites by becoming capable of performing in a vast range of commercial applications. Advancements in the miniaturization technologies and applications of satellite constellations are the key factors driving the adoption of small satellites. The minisatellite, a sub-type of small satellite is described as an LEO satellite having a wet mass (including fuel) of 101 kg to 500 kg. Minisatellites are present at an altitude of about 1,000–5,000 km. The operational cost, as well as the manufacturing cost of minisatellites, is less than that of traditional larger satellites, thereby offering a low-cost solution to gather and communicate data. Advancements in miniature electronics components reduce the cost and provide enhanced capabilities for commercial and defense usage.
Based on end use, the commercial segment is estimated to register a large share in the base year.
The LEO satellite industry is categorized by application into communication, earth observation & remote sensing, scientific research, and technology, and others. A communication satellite is responsible for creating a communication channel to receive signals for telephone, television, internet, and military communication. The demand for communication satellites is growing due to the ever-increasing demand for high-speed satellite internet and precise information in the military communication chain of command. Moreover, Advancements in technologies have helped overcome major hurdles faced in providing efficient miniaturized onboard power systems for advanced communication hardware on satellites that require high electrical power. This has been useful for generating higher data rates, thereby improving the overall communication capabilities of nanosatellites, microsatellites, and minisatellites. LEO satellites can accommodate more sophisticated payloads than traditional larger satellites. They also take considerably less time to transfer the data from the Earth to LEO due to the closer location of satellites from the earth than GEO, where the traditional large satellites are located. LEO satellites enhance communication capabilities such as disaster management, asset tracking, and mobile communication.
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The Asia Pacific region is projected to be a high growth potential market for LEO satellite during the forecast period.
The Asia Pacific market is projected to witness a significant CAGR from 2024 to 2029. The Asia Pacific Regional Space Agency Forum (APRSAF) enhances space activities through human resource development, capacity building, and development of science-technology capability in the region. Space agencies, governmental bodies, international organizations, private companies, universities, and research institutes from over 40 countries and regions take part in APRSAF, the largest space-related conference held annually in the Asia Pacific region, leading to various growth strategies, technological advancements, research and development activities, innovation in small and CubeSats, and development of reusable launch vehicles in terms of design, function, and integration.
Key Players
The major players in LEO satellite companies include SpaceX (US), Airbus Defence and Space (Germany), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), and L3Harris Technologies, Inc. (US).
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Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting
Related Reports:
Small Satellite Market by Mass ((Small Satellite (100-500KG, 10-100KG, 1-10KG), CubeSat (0.25U- 1U, 2U, 3U, 6U, >12U)), Subsystems (Satellite Bus, Payload, Solar Panel, Others), End-use, Orbit, Application, Frequency and Region – Global Forecast to 2028
Satellite Antenna Market by Platform (Land fixed, Land mobile, Airborne, Maritime, Space), Antenna Type (Phased Array, Multiple Input Multiple Output, Others), Technology (SOTM, SOTP), Component Type, Frequency and Region – Global Forecast to 2026
Optical Satellite Market by Size (Small, Medium, Large), Application (Earth Observation, Communication), Operational Orbit (LEO, MEO/GEO), Component (Imaging and Sensing Systems, Optical Communication System), End User, and Region – Global Forecast to 2028
Optical Satellite Communication Market by Type (Satellite-to-Satellite, Ground-to-Satellite Communication), Component (Transmitter, Receivers, Amplifiers, Transponders, Antenna, Converter), Application, Laser Type and Region – Global Forecast to 2028
Small Satellite Services Market by Platform (CubeSat, Nanosatellite, Microsatellite, Minisatellite), Vertical (Government & Military, Non-Profit Organizations, Commercial), Application (Remote Sensing, Communication), and Region – Global Forecast to 2022
About MarketsandMarkets™
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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Artificial Intelligence
Infosys Collaborates with First Abu Dhabi Bank to Optimize and Modernize its IT Infrastructure Services
Leveraging Infosys Cobalt to deliver industry-leading infrastructure-managed services
BENGALURU, India, May 14, 2024 /PRNewswire/ — Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB’s IT infrastructure services.
As part of this collaboration, Infosys will leverage Infosys Cobalt, a set of services, solutions, and platforms for enterprises to accelerate their cloud journey, to deliver industry-leading, infrastructure-managed services, including service desk capabilities, to transform FAB’s IT infrastructure. Infosys will help integrate a suite of enterprise tools to drive significant improvements in FAB’s service quality, risk reduction, and business outcomes. These include:
Artificial Intelligence- (AI) and Machine Learning (ML)-based automation, providing self-healing and self-help capabilities.Proactive and prognostic monitoring and observability, improving the resilience of the infrastructure estate.Blueprint-based environment provisioning, helping to reduce provisioning time exponentially, allowing faster time to market.Leveraging Infosys Topaz, an AI-first set of services, solutions, and platforms, using generative AI technologies to improve productivity and efficiency.The collaboration aims to transition to an outcome-oriented, automated-managed services model that delivers high-quality, compliant IT services with increased speed and agility. In the long term, it will also establish a highly scalable and flexible IT infrastructure.
The Middle East is a strategic growth market for Infosys, and this collaboration furthers Infosys’ committed focus in the region to enable large enterprises to navigate their cloud-first, digital-first, and AI-first journeys.
Suhail Bin Tarraf, Group Chief Operating Officer, First Abu Dhabi Bank (FAB), said, “At FAB, we are committed to transforming our IT organization and delivering world-class services that drive tangible business outcomes. After a thorough evaluation, we selected Infosys as our strategic partner due to their proven expertise, innovative solutions, and the strong trust they built at all levels. Infosys’ outcome-oriented managed services model coupled with their automation-powered delivery approach will help us significantly improve service quality, compliance, and operational efficiency.”
Dennis Gada, Executive Vice President and Global Head of Banking & Financial Services, Infosys, said, “We are delighted to collaborate with First Abu Dhabi Bank to optimize and modernize their IT infrastructure services, by leveraging Infosys Cobalt and Infosys Topaz. FAB recognized the need to transform their IT operating model, and entrusted Infosys with their IT infrastructure, enabling their digital journey to proceed faster and with more resilience on the backend. By leveraging our global expertise and investments in AI, cloud and infra, Infosys will also enable FAB to transition to an outcome-oriented, automation-driven execution model and help position it as a digital leader in the financial services industry.”
About First Abu Dhabi Bank:
Headquartered in Abu Dhabi with a strategic global footprint across 20 markets, FAB is the finance and trade gateway to the Middle East and North Africa region (MENA). With total assets of AED 1.2 trillion (USD 323 billion), FAB is among the top 50 banks globally by market capitalisation and one of the world’s largest banking groups. The bank provides financial expertise to its wholesale and retail client franchise across four business units: Investment Banking, Corporate and Commercial Banking, Consumer Banking, and Global Private Banking. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, with a stable outlook. On sustainability, FAB holds an MSCI rating of ‘A’, also ranked among the top 10% of banks globally by Refinitiv’s ESG Scores and the best performer in the MENA region.
For further information, visit: www.bankfab.com
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, our ability to attract and retain personnel, our transition to hybrid work model, economic uncertainties, technological innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2023. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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