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Global Contract Research Organization Services Market (2021 to 2026) – Rising Demand for Specialized Testing Services Among End-users Presents Opportunities

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Dublin, Aug. 03, 2021 (GLOBE NEWSWIRE) — The “Global Contract Research Organization (CROs) Services Market by Type (Early phase, Clinical, Laboratory), Therapeutic Area (Oncology, Infectious Disease), Molecule Type (Vaccine, CGT), End User (Pharma, Biopharma, Research Institute) – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The contract research organization (CRO) services market is projected to reach USD 86.5 billion by 2026 from USD 53.2 billion in 2021, at a CAGR of 10.7% during the forecast period, owing to increasing number of clinical trials, rising prevalence of orphan & rare diseases and high cost of in-house drug development.

By type, the clinical research services segment accounted for the largest share of the contract research organization (CRO) services market

The contract research organization (CRO) services market by type is categorized into major early-phase services, clinical research services, laboratory services, and consulting services. Clinical research services segment dominated the market in 2020. The large share of this segment can be attributed to growing demand for newer drugs and subsequent increase in the prevalence of chronic diseases.

Asia Pacific: The fastest-growing region in the contract research organization (CRO) services market.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to implementation of favorable government policies and increasing number of newly established manufacturing facilities.

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North America: the largest share of the contract research organization (CRO) services market

North America accounted for the largest share of the contract research organization (CRO) services market. Rapid growth in the biosimilar and biologics markets and an increase in clinical trial activity are the major factors driving the market growth.

Key Topics Covered:

1 Introduction

2 Research Methodology

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3 Executive Summary

4 Premium Insights
4.1 CRO Services Market Overview
4.2 North America: CRO Services Market Share, by Product & Country (2020)
4.3 CRO Services Market, by Type, 2021 Vs. 2026 (USD Million)
4.4 CRO Services Market Share, by End-user, 2020
4.5 CRO Services Market: Geographic Growth Opportunities

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Investment in Pharmaceutical R&D
5.2.1.2 Rising Number of Clinical Trials Creates Significant Demand for CRO Services
5.2.1.3 High Cost of In-House Drug Development Encourages Pharma Biotech Companies to Outsource Contract R&D Services
5.2.1.4 Rising Prevalence of Orphan and Rare Diseases Creates New Revenue Pockets for CROs
5.2.2 Opportunities
5.2.2.1 Growth in Drugs and Biologics Market Despite COVID-19 Pandemic
5.2.2.2 Rising Demand for Specialized Testing Services Among End-users
5.2.2.3 Need for Novel Clinical Trial Designs for Complex Cell and Gene Therapies
5.2.3 Challenges
5.2.3.1 Shortage of Skilled Professionals for Clinical Trials
5.2.3.2 Requirement for Unique Analytical Testing Approach for Innovative Formation
5.2.4 Market Trends
5.2.4.1 Revolutionary Shift in CRO Services Market due to Growing Adoption of Artificial Intelligence-Based Tools for Drug Discovery
5.2.4.2 Increased Outsourcing to Emerging Asian Economies
5.2.4.3 CRO Industry Consolidation
5.2.4.4 Integrated End-To-End R&D Service Solution
5.3 Ranges/Scenario
5.4 Impact of COVID-19 Outbreak on CRO Services Market
5.5 Trends/Disruptions Impacting Customer’s Business
5.6 Pricing Analysis
5.7 Value Chain Analysis
5.8 Ecosystem Analysis
5.9 Technology Analysis
5.10 Case Study
5.11 Regulatory Analysis
5.12 Porter’s Five Forces Analysis

6 CRO Services Market, by Type
6.1 Introduction
6.2 Clinical Research Services
6.2.1 Growing Number of Clinical Trials and Partnerships with CROs Propel Growth of Segment
6.2.2 Phase Iii Clinical Research Services
6.2.2.1 Rising Cost of Phase Iii Trials and High Number of Patients Recruited in These Trials Increases Demand for Cost Effective CRO Services
6.2.3 Phase Ii Clinical Research Services
6.2.3.1 Long Duration of Phase Ii Studies Provides Growth Opportunities for CROs
6.2.4 Phase I Clinical Research Services
6.2.4.1 Robust Pipeline of Pharmaceutical Companies Drives Segment Growth
6.2.5 Phase Iv Clinical Research Services
6.2.5.1 Rising Number of CROs Providing Post-Marketing Surveillance Drives Segment Growth
6.3 Early-Phase Development Services
6.3.1 Rising Need for Early-Phase Development Studies for Biologics and Biosimilars to Drive Segment Growth
6.3.2 Chemistry, Manufacturing & Control Services
6.3.2.1 High Demand for Cmc Services to Check Quality Standards of Drugs
6.3.3 Preclinical Services
6.3.3.1 Rising Demand for Preclinical Services for Pk/Pd and Toxicology Testing Propels Growth of Segment
6.3.4 Pharmacokinetics/Pharmacodynamics Services
6.3.4.1 Increasing Importance of Studies to Determine Pharmacokinetic Behavior of Drug Candidates to Drive Segment
6.3.5 Toxicology Testing Services
6.3.6 Other Preclinical Services
6.3.6.1 Increasing Use of Molecular Imaging, Flow Cytometry, and Immunohistochemistry to Boost Segment
6.3.7 Discovery Studies
6.3.7.1 Rising Importance of CRO Services for Target Identification and Validation to Promote Segment Growth
6.4 Laboratory Services
6.4.1 Increasing Importance of Lab Services to Ensure Regulatory Compliance to Propel Segment Growth
6.4.2 Analytical Testing Services
6.4.2.1 Increasing Demand for Analytical Testing for All Stages of Drug Development Drive Growth of Segment
6.4.3 Physical Characterization
6.4.3.1 Increasing Demand for Physical Characterization to Reduce Risk of Product Failure Drives Segment Growth
6.4.4 Raw Material Testing
6.4.4.1 High Demand for Testing Services to Ensure Quality and Purity of Raw Materials Drives Growth of Segment
6.4.5 Batch Release Testing
6.4.5.1 Comprehensive Portfolio of Batch-Release Testing Services Offered by CROs to Propel Segment Growth
6.4.6 Stability Testing
6.4.6.1 Used to Ensure Long-Term Quality, Safety, and Efficacy of Pharmaceutical Products
6.4.7 Other Analytical Testing
6.4.7.1 Demand for Analytical Method Validation, Cleaning Validation, and Microbial Testing to Propel Segment Growth
6.4.8 Bioanalytical Testing Services
6.4.8.1 High Demand for Bioanalytical Testing due to Growing Use of Macromolecules and Biosimilars
6.5 Consulting Services
6.5.1 Increasing Adoption of Consulting Services for Quality Assurance Purposes Propels Segment Growth
6.6 Data Management Services
6.6.1 Data Management Services Expected to Record Highest CAGR During Forecast Period

7 CRO Services Market, by Therapeutic Area
7.1 Introduction
7.2 Oncology
7.2.1 Increasing Number of Cancer Cases Drives Growth of Segment
7.3 Infectious Diseases
7.3.1 Epidemic Outbreaks Necessitate Increasing Drug Discovery Activities
7.4 Neurology
7.4.1 Increasing Investment in R&D and Grants for Neurological Disorders Drives Market
7.5 Cardiovascular System Disorders
7.5.1 High Mortality Rates Driving Pharmaceutical Companies to Develop New Treatment Options
7.6 Metabolic Disorders/Endocrinology
7.6.1 Increasing Global Diabetes Population Expected to Drive Market Growth
7.7 Immunological Disorders
7.7.1 Growing Immunologial Drugs Pipeline Resulting in Increase in Outsourcing Activities
7.8 Respiratory Disorders
7.8.1 Increasing Prevalence of Respiratory Disease to Support Growth of Segment
7.9 Psychiatry
7.9.1 Rising Incidence of Psychiatric Disorders to Propel Market Growth
7.10 Dermatology
7.10.1 Increasing Prevalence of Skin Disorders Propels Segment Growth
7.11 Hematology
7.11.1 Development of Drugs for Hematological Disorders to Drive Segment Growth
7.12 Ophthalmology
7.12.1 Growing Need for Opthalmology-Related Clinical Trials
7.13 Gastrointestinal Diseases
7.13.1 Rising Incidence of Gastrointestinal Diseases and Growing Investment in R&D to Propel Market
7.14 Genitourinary & Women’s Health
7.14.1 Rising Prevalence of Chronic Disorders in Women Drives Segment Growth
7.15 Other Therapeutic Areas
7.15.1 Promising Drugs in Pipeline for Rare Diseases to Suppport Segment Growth

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8 CRO Services Market, by Molecule Type
8.1 Introduction
8.2 Vaccines
8.2.1 Rising Focus on Immunization for Infectious Diseases Fueling Market Growth
8.3 Cell & Gene Therapy
8.3.1 Increasing Funding for R&D Supports Market Growth
8.4 Other Molecule Types

9 CRO Services Market, by End-user
9.1 Introduction
9.2 Pharmaceutical & Biopharmaceutical Companies
9.2.1 Increasing R&D Expenditure and Robust Pipeline to Drive Market Growth
9.3 Medical Device Companies
9.3.1 Increase in R&D for Development of Advanced Medical Devices Fueling Market Growth
9.4 Academic Institutes
9.4.1 Collaboration with Market Players to Provide More Flexible and Efficient Pathways for Clinical Development

10 CRO Services Market, by Region

11 Competitive Landscape
11.1 Introduction
11.2 Right-To-Win Approaches Adopted by Key Players
11.3 Revenue Analysis
11.4 Market Share Analysis
11.5 Company Evaluation Quadrant
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
11.6 Company Evaluation Quadrant: Start-Ups/Smes
11.6.1 Progressive Companies
11.6.2 Starting Blocks
11.6.3 Responsive Companies
11.6.4 Dynamic Companies
11.7 Competitive Benchmarking
11.7.1 Company Service Footprint (20 Companies)
11.7.2 Company Industry Footprint (20 Companies)
11.7.3 Company Service Offering Footprint (20 Companies)
11.7.4 Company Regional Footprint (20 Companies)
11.8 Competitive Scenario and Trends
11.8.1 Services Launches
11.8.2 Deals
11.8.3 Other Developments

12 Company Profiles
12.1 Key Companies
12.1.1 Iqvia
12.1.2 Labcorp
12.1.3 Syneos Health Inc.
12.1.4 Wuxi Apptec
12.1.5 Charles River Laboratories
12.1.6 Parexel International
12.1.7 Pra Health Sciences
12.1.8 Ppd Inc
12.1.9 Icon plc
12.1.10 Medpace Holdings Inc
12.1.11 Sgs
12.1.12 Frontage Holdings Corporation
12.1.13 Psi CRO Ag
12.1.14 Bio Agile Therapeutics
12.1.15 Firma Clinical Research
12.1.16 Acculab Life Sciences
12.1.17 Novotech Health Holdings
12.1.18 Geneticist Inc.
12.1.19 Linical Americas
12.1.20 Celerion
12.2 Other Players
12.2.1 Azelix
12.2.2 Ctserv
12.2.3 Pepgra
12.2.4 Axcent Advanced Analytics (A3)
12.2.5 Dove Quality Solutions

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13 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/1g2z91


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Artificial Intelligence

Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services

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LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation. 

Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Perimeter Security Market- Global Forecast to 2029
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Smart Water Management Market – Global Forecast to 2028
Rail Asset Management Market – Global Forecast to 2026
Get access to the latest updates on LoRa and LoRaWAN IoT Companies and LoRa and LoRaWAN IoT Industry
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Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup

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HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.

Optimized Visuals Tailored for Football Dynamics
The Toshiba REGZA Engine ZRi in Z670 transports football fans into the heart of the action. With the AI Football Mode, they’ll be able to see fast-moving objects crystal clear and football field actions much enriched. To see their favourite player score that winning goal, the AI Picture Optimizer automatically adjusts visual contrast and precision adapted to the game. From vivid green fields and vibrant player kits, every play comes to life with AI 4K Upscaling and Quantum Dot Color, transforming lower-resolution broadcasts into near-4K quality and unleashing lifelike visual color.
Powerful Audio Effects for a Live Stadium Experience
The Toshiba TV Z670’s powerful audio system makes viewers feel like they’re right in the game. With the REGZA Bass Woofer Pro, Tru Bass Booster, and Dolby Atmos, they’ll experience heart-thumping 3D surround sound that captures the live stadium atmosphere. Whether it’s the roar of the crowd or the intensity of each play, the rich audio brings the excitement of each game right into their room.
Bringing Everyone Together for UEFA EURO 2024™
Available in sizes ranging from 55″ to 85″, Z670 is equipped with a Wide Viewing Angle and Anti-reflection features that ensures a clear picture from all viewing positions with the non-glare panel. Gather everyone for “Brilliant Every Moment” in UEFA EURO 2024™ with Toshiba TV!
Please find the high-resolution TVC here: Link
About Toshiba TV:
With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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