Artificial Intelligence
Global On-board Charger Market By Propulsion Type, By Vehicle Type, By Power Output, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027
New York, Feb. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global On-board Charger Market By Propulsion Type, By Vehicle Type, By Power Output, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06241017/?utm_source=GNW
The on-board charger of an electric car transforms the grid’s AC input to a DC input, which is then used to charge the battery. The electronic components in the on-board charger (OBC) allow the battery to be recharged from the AC mains, whether at home or at private or public charging stations.
Hybrid vehicles have a fossil fuel-powered drivetrain as well as an electric drivetrain, which can be organized in a variety of ways. Mild hybrids, for example, have a smaller battery that is charged by a mix of the ICE and a generator. While the car is slowing down and the motor is acting as a generator, regenerative braking gives some charge to prolong the range. While the vehicle is stationary, PHEVs and BEVs have the ability to plug into the mains grid and recharge the battery.
The on-board charger may charge at either a constant current or a constant voltage, and both modes are simple to use. And each one has its own set of benefits and drawbacks. Constant current charging has a high efficiency and charging speed, but there is a risk of the battery being overcharged at a later stage, reducing its lifespan. When using constant voltage charging, there is a chance that too much current will flow into the battery right away, overheating the battery and shortening its lifespan.
As a result, the charger guarantees that it is charged with a constant current at first, preserving speed & efficiency, and then switches to constant voltage charging when the voltage at both ends of the battery reaches a specified amplitude. This system is known as the charging strategy, and it is the on-board charger’s most significant function.
COVID-19 Impact Analysis
The COVID-19 pandemic had a negative influence on electric vehicle sales in the first half of 2020, which slowed industry growth. The imposition of lockdown and other restrictions has reduced the usage of electric vehicles on road. In addition, the sales of electric vehicles have also declined severely since consumers were only investing in essential products. Nonetheless, governments’ efforts, such as increased purchase incentives, lower battery costs, and EV upgrade offers from original equipment manufacturers, created prospects for EV adoption during the pandemic.
However, due to statewide lockdowns imposed in several nations, automotive OEM production facilities were obliged to temporarily shut down all vehicle manufacturing operations. It also caused delays in the development of on-board chargers in terms of production and development. Vaccination initiatives against Covid19 are expected to allow restrictions to be gradually lifted.
Market Growth Factors:
Supportive government initiatives
The infrastructure for charging electric vehicles is critical for their widespread adoption. Several government projects have been launched around the world to supply electric vehicle charging stations. In addition, several nations are focusing on sustainable development along with minimizing the emission level in the environment. Various governments are working with on-board charger companies to support their plan of establishing electric vehicle transportation system.
Growing penetration of EVs
Because gasoline is a fossil fuel, it is not a renewable source of energy and will eventually run out. Alternative fuel sources must be developed and used to support sustainable development. This entails the usage of electric vehicles, which do not require the use of gasoline and are more cost effective than traditional automobiles. EVs have a number of advantages, including lower fuel usage (petrol, diesel, and gas) and lower emissions from tailpipes, which are driving up demand around the world. This is likely to increase the need for on-board chargers in electric or plug-in hybrid vehicles in the coming years.
Market Restraining Factors:
High deployment of DC fast chargers
The grid provides AC (alternating current) to major charging stations, which is also found in household outlets. Inside the electric vehicle, on-board chargers convert AC power to DC (Direct Current) power for the battery. This charging procedure, however, is slower than that of DC fast chargers. Because the charging stations convert AC power to DC and transmit DC power directly to the battery, DC fast chargers charge the EV faster.
Propulsion Type Outlook
By propulsion type, the on-board charger market is fragmented into Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV). The PHEV segment garnered a significant revenue share in the on-board charger market in 2020. Several Plug-in Hybrid Electric Vehicle (PHEV) manufacturers are using on-board chargers with outputs ranging from 3 to 3.7 kW, which is propelling the growth of the segment. On-board chargers are used to charge the batteries in vehicles like the Hyundai Sonata PHEV, Kia K5 PHEV, and Mitsubishi Outlander PHEV. PHEVs are gaining more popularity around the world.
Vehicle Type Outlook
On the basis of vehicle type, the on-board charger market is segmented into Passenger Car, Buses, Vans, Medium & Heavy-Duty Vehicles, Boats and others. The passenger cars segment acquired the highest revenue share in the on-board charger market in 2020 and is estimated to continue this trend over the forecast period. On-board chargers would become more popular as the number of electric passenger cars sold across the world is rising. In addition, the rising disposable income of the consumers is motivating them to adopt EVs and hence, surge the growth of the segment.
Power Output Outlook
Based on power output, the on-board charger market is classified into Less than 11 kW, 11 kW to 22 kW and More than 22 kW. The 11kW to 22 kW segment garnered a significant revenue share in the on-board charger market in 2020. The 11-22 kW chargers are tri-phase AC chargers that take two to four hours to fully charge an electric vehicle. A public charging station is usually a tri-phase AC charger. According to figures published by Transport & Environment, tri-phase AC chargers account for 61% of European public chargers.
Regional Outlook
Region-wise, the on-board charger market is evaluated across North America, Europe, Asia Pacific and LAMEA. Asia Pacific emerged as the leading region in the on-board charger market with the maximum revenue share in 2020. Government initiatives to promote electric car sales are increasing in nations like China and India, which is boosting regional market growth. The Chinese government’s sales quotas, for example, are one of the primary factors boosting EV on-board charger sales in the country for the years 2019, 2020, and 2021.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Toyota Motor Corporation is the major forerunners in the On-Board Charger Market. Companies such as Bel Fuse, Inc., TDK Corporation and Panasonic Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Current Ways, Inc., Eaton Corporation PLC, STMicroelectronics N.V., Infineon Technologies AG, Bel Fuse, Inc., TDK Corporation (InvenSense), Toyota Motor Corporation, BorgWarner, Inc., Panasonic Corporation, and AVID Technology Limited.
Strategies deployed in On-Board Charger Market
Dec-2021: STMicroelectronics introduced a new range of GaN power semiconductors in the STPOWER portfolio. This portfolio can significantly reduce energy usage and provide slimmer designs in a wide range of electronic products. The target applications include consumer equipment such as chargers, LED-lighting drivers, external power adapters for PCs, and power supplies inside televisions and home appliances. ST’s PowerGaN devices also benefit telecom industrial motor drives, power supplies, solar inverters, & electric vehicles & chargers.
Dec-2021: Infineon Technologies introduced OPTIGA, a security solution for automotive wireless charging. The OPTIGA complies with version 1.3 of the Wireless Power Consortium (WPC) Qi standard, which requires strong cryptographic authentication for wireless charging up to 15 W. This launch is aimed to develop automotive wireless charging & features the highest levels of security. Additionally, the solution is AEC-Q100 Grade 2 qualified & offers an in-field update function along with support for up to four certificate chains.
Jul-2021: STMicroelectronics teamed up with Arrival, a British electric vehicle manufacturer. Under the collaboration, STMicroelectronics’ automotive microcontrollers, power & battery-management devices would be added to Arrival’s vehicle portfolio to enable Arrival in delivering zero-emission commercial vehicles as part of an integrated mobility ecosystem.
Jun-2021: STMicroelectronics collaborated with Renault Group, a French multinational automobile manufacturer. This collaboration aimed to design, develop, manufacture, & supply STMicroelectronics’ products and related packaging solutions to Renault Group for the power electronics systems of battery-operated & hybrid vehicles. Moreover, these technologies would significantly affect the electric vehicles’ driving range & charging by decreasing power losses and improving efficiency which would result in lower battery costs, more kilometers per charge, shorter charging time & reduced user-cost.
Mar-2021: Eaton took over Green Motion, a designer and manufacturer of electric vehicle charging hardware and related software. The acquisition is aimed to expand the EV charging capabilities of Eaton.
Mar-2021: Infineon Technologies unveiled 650 V CoolSiC, hybrid discrete for automotive. This product provides a cost-efficient performance boost and a highly reliable product. The device contains a 50 A TRENCHSTOP 5 fast-switching IGBT and a CoolSiC Schottky diode. The combination supports high system integrity in addition to bi-directional charging which makes the device ideal for fast switching automotive applications like On-Board Chargers (OBC), DC-DC and DC-AC converters, Power Factor Correction (PFC).
Jan-2021: Panasonic Life Solutions India, a subsidiary of Panasonic Corporation teamed up with PMI Electro Mobility Solutions, a manufacturer of ‘zero-emission’ commercial vehicles. This collaboration aimed to set up electric vehicle (EV) charging infrastructure across 17 cities for over 1,000 electric buses in India.
Sep-2019: Delphi Technologies entered into a partnership with Cree, developer, and producer of semiconductors made from silicon carbide (SiC). This partnership is focused on combining Cree’s silicon carbide-based metal-oxide-semiconductor field-effect transistors (MOSFETs) with Delphi’s traction drive inverters and DC/DC converters and chargers to extend driving range & provide faster charging time.
Aug-2019: Eaton teamed up with KPIT, leading independent software development and integration partner. This collaboration aimed to support the development of next-generation electrified mobility technologies for eMobility business unit. The collaboration would focus on developing & deploying technologies, software solutions, and platforms for several components, including inverters, DC-DC converters, onboard chargers, & power distribution modules.
May-2019: BorgWarner launched the latest on-board electric vehicle charger with best-in-class power density. The charger would provide maximum power conversion efficiency to save energy and deliver an extended range for vehicle manufacturers and consumers with the help of silicon carbide technology.
May-2019: BorgWarner formed a joint venture with Romeo Power Technology, a technology-leading battery module and pack supplier. From this joint venture, the companies aimed to fill up the gap between battery cell manufacturers and hybrid & electric vehicle consumers in the marketplace. Moreover, the addition of battery packs would strengthen BorgWarner’s existing product portfolio for hybrid and electric vehicles which include power electronics, electric motors, high-voltage battery heaters, onboard battery chargers, eAxle iDMs, and many more.
May-2019: Panasonic partnered with electric mobility service providers, SmartE and qQuick. This partnership aimed to launch their electric vehicle (EV) charging service Nymbus. Under the partnership, Nymbus would combine physical components like swap stations, charging stations, onboard charges, and telematics systems with virtual components such as analytics, cloud service, intuitive dashboard, & artificial intelligence. The partnership is aimed to help utility providers, vehicle, and equipment & battery manufacturers to understand the utilization patterns and calibrate the products and services accordingly.
Apr-2019: Bel Power Solutions unveiled BCN25-700-8, a 25-kW on-board battery charger. The solution would provide a charger that converts 3-phase AC voltage to DC voltage. The new hybrid/electric battery charger features an input voltage at 3-phase of 460 Vac – 575 Vac (line to line) and an output voltage from 250 Vdc to 800 Vdc, 37.5 A, with galvanic isolation between the input and output.
Oct-2018: Ficosa expanded its geographical footprints in Viladecavalls, Barcelona by opening a new e-Mobility Hub, a pioneering center. By the expansion, the company would focus on developing & manufacturing software and hardware solutions for hybrid as well as electric vehicles, mainly battery-management systems (BMS) and on-board chargers (OBC).
Scope of the Study
Market Segments covered in the Report:
By Propulsion Type
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
By Vehicle Type
• Passenger Car
• Buses
• Vans
• Medium & Heavy-Duty Vehicles
• Boats
• Others
By Power Output
• Less than 11 kW
• 11 kW to 22 kW
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Current Ways, Inc.
• Eaton Corporation PLC
• STMicroelectronics N.V.
• Infineon Technologies AG
• Bel Fuse, Inc.
• TDK Corporation (InvenSense)
• Toyota Motor Corporation
• BorgWarner, Inc.
• Panasonic Corporation
• AVID Technology Limited
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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Artificial Intelligence
The Australia Data Center Market Size Will Witness Investments of $7.71 Billion by 2029 – Get Insights on 135 Existing Data Centers and 23 Upcoming Facilities across Australia – Arizton
CHICAGO, May 9, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Australia data center market is growing at a CAGR of 3.22% during 2023-2029.
To Know More, Click: https://www.arizton.com/market-reports/australia-data-center-market-investment-analysis
Australia Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 7.71 Billion (2029)
Market Size (Area)
1,460.0 thousand sq. Feet (2029)
Market Size (Power Capacity)
303.0 MW (2029)
CAGR Investment (2023-2029)
3.22 %
Colocation Market Size (Revenue)
USD 2.05 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
The data center market in Australia has been witnessing significant growth in investments over the past few years. It is expected to grow at an absolute growth rate of around 20% between 2023-2029. Australia is among the top destinations for data center investments in the APAC region.
Sydney, Melbourne, and Perth are the primary data center hubs hosting most data centers in the country. Canberra, Brisbane, Darwin, and other cities are among the emerging locations in Australia with abundant land availability for data center development.
Investment Opportunities
In November 2023, OVHcloud announced the launch of its upcoming SYD3 Sydney data center facility, which is expected to be operational in 2024.In November of 2023, Rest Super invested about $656 million in a data center in Brisbane, which Quinbrook Infrastructure Partners are developing.In November 2023, NEXTDC announced the development of the D1 data center facility in Darwin; the facility is expected to go operational by Q2 2024.AirTrunk announced the expansion of its SYD2 data center campus in Sydney; once fully built, the facility will account for an additional power capacity of around 30 MW, making it an aggregate capacity of around 120 MW. This second phase is expected to be completed in 2024. AirTrunk’s upcoming SYD3 Sydney facility calls for an aggregate investment of about $670 million.In an August 2023 news article, Macquarie Data Centres revealed its plan to expand its upcoming IC3 Super West facility in Sydney regarding power capacity. As per January 2024 news article, Macquarie Data Centres has received approval to build/grow the IC3 Super West, its third facility in Sydney.In August 2023, STACK Infrastructure announced the MEL01 A data center launch in Melbourne, located at 399 Palmers Road. The entire campus will have a power capacity of around 72 MW, divided equally between buildings A and B. As of early 2024, Building B is still a work in progress. Furthermore, the company plans new facilities in Canberra, Hume, and Perth.Rising Procurement of Renewable Energy in Australia Boosting the Market Opportunities
In 2022, according to IRENA, solar energy accounted for around 61% of Australia’s overall renewable energy capacity, followed by wind, hydro, and bioenergy (in decreasing order), from which renewable power is extracted for all the sustainable energy needs of the country. Australia aims to achieve its target of zero carbon emissions by 2050. The country announced plans to reach almost 43% less emission than in 2005.
According to the Australia National Electricity Market (NEM), the renewable energy share in the country is expected to reach around 41% by 2030. By 2025, Australia aims to achieve 100% instantaneous renewable energy for its main grid, starting with a half-hour period and gradually increasing to cover hours and days. This transition will be facilitated by an increase in wind, solar, and energy storage solutions to meet the country’s new target of 82% renewables by 2030. The retirement of coal-based power generation facilities in the coming years will contribute to this goal.
Microsoft in Australia Recent Development During 2022-2024:
In October 2023, Microsoft, a hyperscale tech giant, decided to expand its footprint in Australia by investing over $3 billion to increase and expand its computing capacity in the country by over 250% in the next two years. It is expected to go live by late 2025.In July 2023, Microsoft announced the completion of the construction of Building 1 of the Station Road data center; Building 2 is still a work in progress. This is expected to be completed by late 2024.Why Should You Buy This Research?
Market size is available in terms of investment, area, power capacity, and Australia colocation market revenue.An assessment of the data center investment in Australia by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing Australia data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in AustraliaFacilities Covered (Existing): 135Facilities Identified (Upcoming): 23Coverage: 20 LocationsExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in the AustraliaColocation Market Revenue & Forecast (2023-2029)Retail Colocation Revenue (2023-2029)Retail Colocation PricingThe Australia data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the market.A transparent research methodology and the analysis of the demand and supply aspects of the market.Market Segmentation
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsSwitches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC and CRAHChillersCooling Towers, Condensers and Dry CoolersEconomizers and Evaporative CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & commissioning ServicesBuilding & Engineering DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IVGeographySydneyMelbournePerthOther CitiesVendor Landscape
IT Infrastructure Providers: Arista Networks, Atos, Broadcom, Cisco Systems, Dell Technologies, Extreme Networks, Hewlett Packard Enterprise, Hitachi Vintara, IBM, Juniper Networks, Lenovo, Oracle, Pure Storage, Quanta Cloud Technology, and Super Micro Computer.Data Center Construction Contractors & Sub-Contractors: AECOM, A W Edwards, Aurecon, Benmax, BGIS, Dem, FDC Construction & Fitout, FKG Group, Greenbox Architecture, HDR (Hurley Palmer Flatt), Hutchinson Builders, Icon, ISG, John Holland, Kapitol Group, Linesight, Manteena Group, Nilsen, Paramount Airconditioning, Parratech, SCEE Group, Stowe Australia, & Taylor Group Construction.Support Infrastructure Providers: ABB, Airedale, Alfa Laval, Canovate, Caterpillar, Condair, Cummins, Delta Electronics, Eaton, Everett Smith & Co, Green Revolution Cooling, HITEC Power Protection, Kohler, Legrand, Mitsubishi Electric, Piller Power Systems, Rittal, Rolls Royce, Schneider Electric, STULZ, Thycon, & Vertiv.Data Center Investors: 5G Networks, AirTrunk, Amazon Web Services, CDC Data Centres, DC Two, DCI Data Centers, Digital Realty, Equinix, Edge Centres, Fujitsu, Global Switch, Leading Edge Data Centres, Keppel Data Centres, Macquarie Data Centres, Microsoft, NEXTDC, & STACK Infrastructure.New Entrants: GreenSquareDC, Stockland, Supernode, Trifalga, & Vantage Data Centers.Key Questions Answered in the Report:
Q: How big is the Australia data center market?
Q: How much MW of power capacity will be added across Australia from 2024 to 2029?
Q: What is the growth rate of the Australia data center market?
Q: What factors are driving the Australia data center market?
Q: Which cities are included in the Australia data center market report?
Get the Detailed TOC @ https://www.arizton.com/market-reports/australia-data-center-market-investment-analysis
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Report recognises Invoca’s innovative platform for delivering “game-changing AI capabilities to revenue teams.”
SANTA BARBARA, Calif., May 9, 2024 /PRNewswire/ — Invoca today announced that Forrester Research has named Invoca as a Leader in The Forrester Wave™: Real-Time Revenue Execution Platforms, Q2 2024 report. Forrester evaluated the most significant revenue execution platform vendors based on three main categories — current offering, strategy, and market presence — along with interviews with customers. Invoca is the top-ranked vendor in both the current offering and strategy categories and among the top-ranked in market presence. Invoca also received the highest possible score in 19 of the 31 evaluation criteria, including AI differentiators, AI: large language model utilisation, Marketing: performance optimisation, In-call guidance: pre-call insights, System configuration: privacy, and Interaction capture: integrations.
The report states, “[Invoca’s] success starts with a vision focused on enabling revenue teams to drive growth by delivering the most complete platform for optimising the entire buying experience. Invoca has a track record of innovation that continues to raise the bar on what is possible to fulfil its vision.”
Revenue Execution Platforms Unify the Buying Journey to Drive Revenue Growth
Invoca’s revenue execution platform enables revenue teams to connect customer buying journey data across the marketing team that engages customers and the sales teams that close the deals. By using a comprehensive revenue execution platform, revenue teams can finally connect their marketing investments directly to revenue, improve digital engagement, and drive higher-quality leads.
Invoca also enables sales teams in the contact centre or at distributed business locations to access information from the customer’s digital journey from a centralised source, enabling them to provide the best call experience possible and close more sales opportunities.
Revenue Execution Platforms Needed to Power Today’s Buyer Journey
“B2C revenue teams across marketing and sales are feeling more pressure to directly connect revenue to their investments. But a lack of alignment and poor visibility of the full buying journey makes that nearly impossible,” said Peter Isaacson, Chief Marketing Officer at Invoca. “I believe Invoca was named a revenue execution Leader because we help marketing and sales teams manage the complete buyer journey from the first click to the final sale, so they can drive revenue growth.”
By using Invoca’s comprehensive revenue execution platform, revenue teams can connect their paid media investments directly to revenue, improve digital engagement and deliver the best buyer experiences to drive more sales. The Forrester report states that “reference customers rave about the versatility of the platform and its collaboration with customers around enhancements.”
Windstream, an Invoca customer, embodies this approach to revenue execution by tightly aligning the marketing and sales teams so they can work together to increase revenue.
“We’re a better marketing organisation because we have a strong partnership with sales,” said Aaron Pierce, VP of Marketing at Windstream. “Our teams have realised that we make each other better — I think that’s the biggest win. And now, when we have a problem, we can put all the smartest people together in the room to tackle it.”
“The Invoca platform has allowed us to unlock a ‘full-funnel’ view of our marketing performance that incorporates both online and offline,” said Lorenzo Clark, VP of Digital Sales at Windstream. “Now, we can get a read on lead quality because we can see what’s happening on sales calls and also track sales performance on a lead-by-lead basis.”
The Forrester Wave™The Forrester Wave™ is Forrester’s evaluation of top products in a technology market. The report assesses the core capabilities and strategies of these products based on an executive strategy briefing and/or product demo session, criteria questionnaire, and customer reference calls/surveys.
The Forrester Wave™: Real-Time Revenue Execution Platforms, Q2 2024 report is available for download here.
Additional Resources:
Learn more about Revenue Execution Platforms: https://www.invoca.com/uk/product/revenue-execution-platformHow real-time revenue execution platforms drive business growth: https://www.invoca.com/uk/blog/revenue-execution-platformThe 5 Revenue Execution Platform Uses You Need to Know About: https://www.invoca.com/uk/blog/revenue-execution-platform-usesAbout InvocaInvoca is the leading revenue execution platform to connect marketing and sales teams to enable them to track and optimise the buying journey and drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
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Artificial Intelligence
Fight Against Pancreatic Cancer Ramps Up as Market Size Revenues Expected to Exceed $36 Billion by 2036
FN Media Group News Commentary
PALM BEACH, Fla., May 9, 2024 /PRNewswire/ — The incidence of pancreatic cancer is increasing globally, which is driving the growth of the market. As of 2023, the American Cancer Society predicts that 64,050 Americans will be diagnosed with pancreatic cancer. It is estimated that 50,550 people will die from pancreatic cancer (26,620 men and 23,930 women). Pancreatic cancer is an aggressive form of cancer, and it is often not detected until it is in an advanced stage. Additionally, the treatment options for pancreatic cancer are limited, and the survival rate is low. These factors are contributing to the rise in pancreatic cancer cases, which in turn is driving the growth of the pancreatic cancer market. A recent report from Research Nester projected that the global pancreatic cancer market size is slated to expand at ~18% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 36 billion by the end of 2036, up from a revenue of ~USD 6 billion in the year 2023. The report said: “Advancements in diagnosis and treatment options for pancreatic cancer are also driving the growth of the market. As researchers gain a better understanding of the different types of pancreatic cancer, they are developing more targeted treatments that are more likely to be effective with fewer side effects. Additionally, new treatment options, such as immunotherapy and targeted therapies, are improving patient outcomes and extending survival rates.” Active biotech and pharma companies in the markets this week include Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), Zai Lab Limited (NASDAQ: ZLAB), Notable Labs, Ltd. (NASDAQ: NTBL), Cardiff Oncology, Inc. (NASDAQ: CRDF), Johnson & Johnson (NYSE: JNJ).
Research Nester concluded: “The pancreatic cancer market in North America is garner the largest revenue by the end of 2036 due to several demographic changes, including an aging population and increased incidence of obesity and diabetes. In the US, there are 37.3 million diabetics (11.3[R3] % of the population); 28.7 million are diagnosed with diabetes, including 28.5 million adults. As the population ages, there will be a higher prevalence of chronic diseases such as diabetes and obesity, which are risk factors for pancreatic cancer. Additionally, the aging population will lead to an increase in the number of people with pre-existing conditions that can increase the risk of developing pancreatic cancer. Obesity and diabetes are known risk factors for pancreatic cancer, and as these conditions become more prevalent, the number of cases of pancreatic cancer is expected to increase.”
Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) Receives Regulatory Clearance to Evaluate Pelareorep in Combination with Modified FOLFIRINOX +/- an anti-PD-L1 Inhibitor in Pancreatic Cancer
US$5 million PanCAN grant provides important support for the fifth cohort of the GOBLET study Study of modified OLFIRINOX/pelareorep/atezolizumab (Tecentriq ®) combination expands existing pancreatic cancer program First patient expected to be enrolled in Q2 2024 Oncolytics Biotech ® Inc., a leading clinical-stage company specializing in immunotherapy for oncology, will commence enrollment into a new GOBLET study pancreatic cancer cohort following both German regulatory and ethics approvals. This cohort will evaluate pelareorep in combination with modified FOLFIRINOX (mFOLFIRINOX) with or without the PD-L1 immune checkpoint inhibitor atezolizumab (Tecentriq ® ) in newly diagnosed patients with pancreatic ductal adenocarcinoma (PDAC). It is supported by a US$5M Therapeutic Accelerator Award from the Pancreatic Cancer Action Network (PanCAN), an innovative program established to accelerate the development of new treatments for pancreatic cancer. The chemotherapy regimens of mFOLFIRINOX or gemcitabine + nab-paclitaxel are the two most common standards of care for pancreatic cancer. Oncolytics has already reported data with the combination of gemcitabine and nab-paclitaxel ( link to the PR , link to the poster ) that surpassed historical outcomes. Positive results from a combination with mFOLFIRINOX could greatly enhance pelareorep’s potential in addressing pancreatic cancer.
“Oncolytics is pleased to announce receipt of regulatory clearance to initiate the mFOLFIRINOX cohort in patients with newly diagnosed metastatic PDAC. We appreciate the opportunity to collaborate with PanCAN, Roche, and AIO on this cohort, which is expected to initiate enrollment in the second quarter,” said Dr. Matt Coffey, President and Chief Executive Officer of Oncolytics. “We believe that working with PanCAN will help to further enrich Oncolytics’ clinical relationships with the pancreatic cancer community. We are also grateful for PanCAN’s Therapeutic Accelerator Award, which is enabling the evaluation of this combination therapy.”
“The Therapeutic Accelerator Award program has been an important part of PanCAN’s approach to advancing innovative treatments for pancreatic cancer. We incorporated input from leading scientists and clinicians in the field of pancreatic cancer to select Oncolytics as a recipient of this award,” said Anna Berkenblit , MD, MMSc, Chief Scientific and Medical Officer at PanCAN. “Increasing patient access to clinical trials is vital to developing improved treatment options, so we are pleased that Oncolytics has received regulatory clearance for the pelareorep/mFOLFIRINOX combination and is poised to enroll the first patient in this cohort. We hope that the results from this study lead to improved outcomes for patients with pancreatic cancer.”
Dirk Arnold , M.D., Ph.D., Director of Asklepios Tumorzentrum Hamburg and primary investigator of the GOBLET trial, commented, “Oncolytics has taken a very strategic approach to the development of pelareorep in pancreatic cancer by focusing its clinical studies on combinations with the most widely used treatment regimens. My experience to date with the GOBLET study, including the positive metastatic PDAC and encouraging anal cancer data reported last year, makes me enthusiastic to initiate enrollment in the mFOLFIRINOX cohort.”
“We previously reported very encouraging results in pancreatic cancer patients for the combination of pelareorep, gemcitabine/nab-paclitaxel, and atezolizumab, and we plan to begin a registration-enabling study of this regimen later this year. The new pelareorep/mFOLFIRINOX cohort offers the opportunity to expand pelareorep’s role in pancreatic cancer. If the mFOLFIRINOX combination shows a compelling efficacy signal, this therapeutic approach could also be advanced to a registration-enabling study, providing two opportunities for pelareorep-based treatment to benefit pancreatic cancer patients,” said Thomas Heineman , M.D., Ph.D., Chief Medical Officer at Oncolytics. “In addition, translational research studies planned for this cohort will help to further elucidate pelareorep’s mechanism of action, including its ability to shape the tumor microenvironment (TME). Notably, we will evaluate the correlation between tumor responses and the expansion of tumor-infiltrating lymphocytes (TILs) in the blood, an effect that was observed in earlier pancreatic cancer studies. We look forward to initiating enrollment into the mFOLFIRINOX/pelareorep study cohort in the second quarter of this year.” CONTINUED… Read these full press releases and more news for ONCY at: https://www.financialnewsmedia.com/news-oncy/
Other recent developments in the biotech industry of note for cancer events include:
Zai Lab Limited (NASDAQ: ZLAB) recently announced financial results for the first quarter of 2024, along with recent product highlights and corporate updates. “Our first quarter results demonstrate strong commercial execution and pipeline progress across our potential first- and best-in-class product portfolio,” said Dr. Samantha Du, Founder, Chairperson, and Chief Executive Officer of Zai Lab. “The launch of VYVGART is off to an impressive start with $13.2 million of sales in the first quarter. Looking ahead, we expect to accelerate commercial performance for the remainder of the year and are preparing for three new potential launches in 2024. We are also excited by the progress of our late-stage pipeline and we are on track to achieve the objectives outlined in our five-year strategic plan, including significant revenue growth and profitability by the end of 2025.”
“Our net revenues grew 39% y-o-y or 43% y-o-y at CER in the first quarter, driven by strong execution with the launch of VYVGART and uptake of our existing portfolio,” said Josh Smiley, President and Chief Operating Officer of Zai Lab. “With VYVGART’s launch in gMG at the end of last year, and multiple new products and indications expected to launch over the near-term, we are now entering a period of robust growth for Zai Lab. Our significant growth, coupled with our focus on driving efficiencies and productivity across the organization, will drive the evolution of Zai Lab into a profitable, high growth business by the end of 2025. Furthermore, we will continue to focus on expanding our global portfolio through our internal discovery activities and strategic business development,” Mr. Smiley concluded.
Notable Labs, Ltd. (NASDAQ: NTBL), a clinical-stage precision oncology company developing new cancer therapies identified by its Predictive Precision Medicine Platform (PPMP), recently reported financial results for the year ended December 31, 2023 and provided a business update.
“The last year has been a time of great accomplishment for Notable. We built a strong clinical validation dataset, starting with a poster presented at the American Association for Cancer Research (AACR 2023); became a publicly listed company, following the closing of a reverse merger in October 2023; and reported successful PPMP clinical data from the Phase 2 fosciclopirox study that showcased the ability of our platform to accurately predict patient outcomes for specific therapeutics,” said Thomas Bock, M.D., Chief Executive Officer of Notable. “The performance of our platform in accurately predicting the outcome of the fosciclopirox study has enabled us to enhance the clinical trial plan for our lead product candidate, volasertib, in development for patients with relapsed/refractory acute myeloid leukemia (r/r AML). In our upcoming Phase 2 trial, we will be utilizing the platform to enrich the study’s enrollment with patients predicted to respond to volasertib, which we believe will result in more rapid enrollment, shorter time to efficacy data and, ultimately, increased probability of success.”
Cardiff Oncology, Inc. (NASDAQ: CRDF), a clinical-stage biotechnology company leveraging PLK1 inhibition to develop novel therapies across a range of cancers, recently announced financial results for the first quarter ended March 31, 2024, and provided a business update.
“During the start of 2024, we presented several important new data sets supporting our first-line RAS-mutated mCRC strategy and the broader opportunity for onvansertib,” said Mark Erlander, Ph.D., Chief Executive Officer of Cardiff Oncology. “The data from the ONSEMBLE trial replicated, in a second independent and randomized dataset, the bev naïve signal from our earlier Phase 1b/2 KRAS-mutated mCRC trial. And the Phase 1b data published in the peer-reviewed journal Clinical Cancer Research, and the additional data we presented in one of our five posters at AACR, further substantiated our lead program in RAS-mutated mCRC. The additional AACR posters also point toward new indications for onvansertib in RAS wild-type mCRC, small cell lung cancer and ovarian cancer. Looking ahead, we believe that our upcoming data readout from our first-line trial in RAS-mutated mCRC has the potential to serve as a key value inflection point for our company and revolutionize the treatment of RAS-mutated mCRC, an area with no new treatments approved in over two decades.”
Johnson & Johnson (NYSE: JNJ) recently announced that the U.S. Food and Drug Administration (FDA) has approved CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least one prior line of therapy, including a proteasome inhibitor and an immunomodulatory agent, and are refractory to lenalidomide. With this approval, CARVYKTI® becomes the first and only B-cell maturation antigen (BCMA)-targeted therapy approved for the treatment of patients with multiple myeloma as early as first relapse.
FDA approval is based on positive results from the Phase 3 CARTITUDE-4 study, which demonstrated that the earlier use of CARVYKTI® reduced the risk of disease progression or death by 59 percent compared to standard therapies—pomalidomide, bortezomib and dexamethasone (PVd) or daratumumab, pomalidomide and dexamethasone (DPd)—in adults with relapsed and lenalidomide-refractory multiple myeloma who received one to three prior lines of therapy. The study, which was presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting and published in The New England Journal of Medicine, also included and reported key secondary results such as overall response (OR) and overall survival (OS).
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