Artificial Intelligence
The Global Artificial Intelligence (AI) in Medical Diagnostics Market size is expected to reach $7.3 billion by 2028, rising at a market growth of 39.6% CAGR during the forecast period
New York, Nov. 23, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Artificial Intelligence in Medical Diagnostics Market Size, Share & Industry Trends Analysis Report By Application, By End User, By Component, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06364328/?utm_source=GNW
A range of patient care as well as intelligent health systems can be supported by artificial intelligence. For disease diagnosis, drug discovery, and patient risk assessment, artificial intelligence methods ranging from machine learning to deep learning are widely used in healthcare.
Numerous medical data sources, such as magnetic resonance imaging, ultrasound, mammography, genomics, computed tomography scan, etc., are necessary to accurately identify diseases using artificial intelligence technology, such as MRI, mammography, genomics, CT scan, etc. Additionally, artificial intelligence primarily improved the infirmary experience and accelerated patients’ preparation to continue their recovery at home.
Moreover, the application of artificial intelligence approaches also includes detecting a variety of diseases, including Alzheimer’s, cancer, diabetes, tuberculosis, chronic heart disease, stroke and cerebrovascular disease, hypertension, skin disease, and liver disease.AI in medical diagnostics includes AI services and software that aid healthcare practitioners in diagnosing various disorders.
AI-based software systems can assess diagnostic process data and either assist with patient triage by identifying aberrant medical images or offer a suitable diagnosis to the healthcare practitioner. Deep learning, algorithms, and data insights are utilized by AI in medical diagnostics to diagnose life-threatening and crucial disorders. It automates the diagnostic process and reduces healthcare practitioners’ workload.
COVID-19 Impact Analysis
The COVID-19 pandemic significantly impacted a number of economies all over the world. Various businesses were demolished as a result of lockdowns imposed by governments all over the world. However, the AI in medical diagnosis market was positively impacted due to the emergence of the pandemic. The COVID-19 disease mostly affects sufferers’ lungs. Consequently, cardiothoracic imaging is a typical diagnostic procedure for determining the severity of the disease in COVID-19 patients. In 2020, the number of research projects employing AI approaches to diagnose COVID-19 increased dramatically. Numerous studies focused on summarizing the COVID-19 diagnosis from chest CT scans via AI technology. Multiple studies have demonstrated that AI models may be as precise as professional radiologists in diagnosing COVID-19.
Market Growth Factor
Increasing efforts of manufacturers on the development of human-aware AI technology
The ultimate goals that were aimed during the formation of AI technologies were to make them more human-aware, which means constructing models with the features and characteristics of human cognition. In other words, the objective was to develop human-like AI. Additionally, a rise in human interference with AI techniques and an interest in discovering the process of machine learning has introduced new research challenges. These challenges include interpretation and presentation challenges, such as problems with automating components and intelligent control of crowdsourcing.
Higher utilization of big data within the healthcare industry
Big data, which refers to data that is both enormous and complicated, is generated at different points in the process of providing medical treatment as a result of the rising digitization and use of information technologies in the healthcare business. Big data in the field of medical diagnostics include, among other types of information and sources, readings from medical devices including sensors, healthcare claims, ECGs, X-rays, and other billing records; biometric data; and information generated from the web and social media interactions.
Market Restraining Factor
Medical practitioners’ reluctance to utilize AI-based technology
Extensive progress in digital health has made it possible for healthcare providers to aid patients with novel treatment methods. AI technologies provide practitioners with tools that improve their ability to diagnose and successfully treat patients. However, doctors have been demonstrated to be resistant to adopting new technologies. For instance, medical professionals believe that AI would replace physicians in the coming years. Doctors and radiologists feel that talents, like empathy or persuasion, are uniquely human; hence, technologies cannot eliminate the requirement for a doctor entirely.
Application Outlook
By Application, the Artificial Intelligence in Medical Diagnostics Market is divided into In Vivo diagnostics (Specialty and Modality) and In Vitro diagnostics. In 2021, the in vivo diagnostics segment witnessed the biggest revenue share of the AI in medical diagnosis market. The rapidly rising growth of this segment can be ascribed to the increasing adoption of AI solutions by the healthcare and medical industries as these solutions aid to reduce human errors and enhance treatment efficacy.
End User Outlook
On the basis of End-User, the is segregated into Hospitals, Diagnostics Imaging Centers, Diagnostics Laboratories, and Others. In 2021, the diagnostic centers segment recorded a significant revenue share of the AI in the medical diagnosis market. In patients with infectious diseases and immunological disorders, laboratory tests are very helpful for verifying a diagnosis, estimating disease severity, and tracking disease progression. In disease management, timely diagnostic assessment and execution of trustworthy testing are crucial.
Component Outlook
Based on Component, the Artificial Intelligence in Medical Diagnostics Market is bifurcated into Software and Services. In 2021, the services segment acquired the largest revenue share of artificial intelligence in medical diagnosis. The high growth of the segment is attributed to the fact that the burden on healthcare practitioners is increasing at a very rapid pace, owing to which, they are increasingly outsourcing various services.
Regional Outlook
Region-Wise, the Artificial Intelligence in Medical Diagnostics Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America accounted for the highest revenue share of the AI in medical diagnosis market. The growth of North American AI in the medical diagnostics market is primarily driven by technological advancements, an increasing number of fresh product approvals, an increasing adoption rate of artificial intelligence in healthcare, the presence of key market players, and an established IT infrastructure within the healthcare sector.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Artificial Intelligence (AI) in Medical Diagnostics Market. Companies such as Intel Corporation, Siemens Healthineers AG (Siemens AG), General Electric (GE) Co. (GE Healthcare) are some of the key innovators in Artificial Intelligence (AI) in Medical Diagnostics Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Nvidia Corporation, IBM Corporation, Intel Corporation, Google LLC, Siemens Healthineers AG (Siemens AG), General Electric (GE) Co. (GE Healthcare), Xilinx, Inc., Digital Diagnostics, Inc. and InformAI, LLC
Recent Strategies deployed in Artificial Intelligence (AI) in Medical Diagnostics Market
Acquisitions and Mergers:
Mar-2022: Microsoft acquired Nuance Communications, a leading conversational AI and ambient intelligence company. With this acquisition, the company aimed to aid healthcare providers to deliver more effective, affordable, and accessible healthcare to patients. In addition, the company would also help businesses in developing more customized and relevant customer experiences.
Jun-2021: Xilinx acquired Silexica, a C/C++ programming and analysis tools provider. Through this acquisition, the company aimed to accelerate its migration from software to application-optimized hardware systems through the Software programmability capabilities of Silexica. In addition, this acquisition would also complement the prevailing Vitis solution along with its potential to reach a broader line of developers.
Apr-2021: Siemens acquired Varian Medical Systems, an American radiation oncology treatment, and software manufacturer. Following this acquisition, Siemens would use Varian’s AI-assisted analytics in order to accelerate the development and distribution of redefined cancer diagnosis, data-driven precision care, as well as post-treatment survivorship.
Aug-2020: Digital Diagnostics took over 3Derm Systems, a medical technology company. Following this acquisition, the company aimed to leverage 3Derm’s autonomous AI in order to enhance healthcare quality while mitigating suffering and costs.
Partnerships, Collaborations and Mergers:
Sep-2022: Microsoft entered into a partnership with Novo Nordisk, a leading global healthcare company. Following this partnership, the companies aimed to accelerate the discovery as well as the development of medication and drugs through the capabilities of AI and big data.
May-2022: GE Healthcare signed an agreement with Alliance Medical, a radiology services company. Under this agreement, the companies aimed to develop a digital health solution by employing advanced AI and data analytics. In addition, this agreement would also incorporate tools that facilitate daily management while also offering problem-solving.
Mar-2022: Digital Diagnostics partnered with Baxter International, an American multinational healthcare company. Following this partnership, the companies aimed to integrate Digital Diagnostics’ AI technology into Baxter devices in order to aid front-line care workers in providing high-quality care with enhanced care outcomes to patients.
Nov-2021: GE Healthcare partnered with Optellum, a lung health company. This partnership aimed to expedite precision diagnosis along with lung cancer therapeutics through AI in order to aid healthcare providers in evaluating lung nodule malignancy along with suspicious lesions, such as cancerous or benign.
Jun-2021: Siemens entered into a partnership with Prisma Health, a not-for-profit health organization. Under this partnership, the companies aimed to integrate the clinical expertise of Prisma into Siemens’s technology intending to redefine the future of health care.
Jun-2020: Siemens partnered with Geisinger, a regional healthcare provider. This partnership aimed to expedite components of the strategic priorities of Geisinger with respect to constantly enhancing their care for communities and patients throughout the region.
Product Launches and Product Expansions:
Oct-2022: Google Cloud launched Medical Imaging Suite, a technology to help with the interoperability and accessibility of radiology. This product aimed to deliver flexible choices for cloud, edge, or on-premise deployment in order to enable businesses to comply with the diverse sovereignty, privacy, and security demands of customers.
Sep-2022: GE Healthcare launched Optima IGS 320, an AI-powered Cath lab. With this launch, the company aimed to further boost cardiac care throughout India in order to propel intelligent imaging with the aim to support cardiologists as well as personalized treatment therapies and protocols. Furthermore, this launch would also accelerate the access of Indian patients to healthcare.
Sep-2022: NVIDIA released the NVIDIA IGX, an industrial-grade edge AI platform. This solution aimed to offer highly secure and low-latency AI inference to help in fulfilling the demand for instant insights from a range of devices and sensors for medical applications.
Jul-2022: GE Healthcare rolled out its 5G Innovation Lab in India. With this launch, the company aimed to increase patient’s access to high-quality care through 5G-enabled healthcare solutions, including Augmented & Virtual Reality, Artificial Intelligence, and Advanced Visualization. In addition, it would also streamline teleradiology and image transfers to entirely transform remote care.
Mar-2022: Siemens introduced NAEOTOM Alpha and MAGNETOM Free.Star. Through this launch, the company aimed to strengthen its position within the clinical decision-making sector throughout the full healthcare spectrum. The MAGNETOM Free.Star encompasses the ability to expand patients’ access to high-value care. Furthermore, NAEOTOM Alpha offers high-resolution data images at minimal doses, enhanced contrast at lower noise, and spectral information in each scan.
Mar-2022: NVIDIA rolled out Clara Holoscan MGX, a platform for the medical device sector. Through this launch, the company aimed to develop and install real-time AI applications at the edge, particularly manufactured to comply with regulatory standards.
Nov-2021: IBM Watson rolled out the IBM Imaging AI Orchestrator, a cloud-based AI service. Following this launch, the company aimed to aid radiologists in managing their access to AI insights in terms of reading workflow. Furthermore, this solution would offer managed access to regulatory-cleared AI applications through the best-in-class AI solution providers to imaging businesses.
May-2021: GE Healthcare unveiled Xeleris V, a virtual review and processing solution. This solution aimed to eliminate the requirement for a standalone nuclear medicine workstation, which would allow healthcare providers to securely access data from multiple locations.
Nov-2020: GE Healthcare released the Edison Developer Program, a range of breakthrough imaging innovations. Through this launch, the company aimed to aid customers in redefining the future of healthcare by addressing the two-part challenge of the modern healthcare environment, including the delivery of high-quality care with higher capacity and workflow issues.
Apr-2020: IBM unveiled AI-Powered Technologies. Through this launch, the company aimed to aid research and the health community in expediting medical treatments and insights discovery for COVID-19.
Jan-2020: Microsoft introduced AI for Health, a five-year program of the company. This solution aimed to leverage AI capabilities in order to help businesses along with researchers in addressing major healthcare challenges throughout the world.
Approvals and Trials:
Apr-2020: Siemens received FDA approval for its AIDAN artificial intelligence technologies. This patient foundation-focused bed aimed to offer four new features viz. OncoFreeze AI, PET FAST Workflow, FlowMotion, and Multiparametric PET Suite AI.
Scope of the Study
Market Segments covered in the Report:
By Application
• In Vivo Diagnostics
o Vivo Diagnostics Specialty Type
Radiology
Cardiology
Neurology
Obstetrics/gynecology
Ophthalmology
Others
o Vivo Diagnostics Modality Type
Computed Tomography
X-Ray & Ultrasound
Magnetic Resonance Imaging
Others
• In Vitro Diagnostics
By End User
• Hospitals
• Diagnostics Imaging Centers
• Diagnostics Laboratories
• Others
By Component
• Services
• Software
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
• Microsoft Corporation
• Nvidia Corporation
• IBM Corporation
• Intel Corporation
• Google LLC
• Siemens Healthineers AG (Siemens AG)
• General Electric (GE) Co. (GE Healthcare)
• Xilinx, Inc.
• Digital Diagnostics, Inc.
• InformAI, LLC
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• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
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• Assured post sales research support with 10% customization free
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Artificial Intelligence
Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.
Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.”
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
About Belgium
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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DUBAI, UAE, Dec. 9, 2023 /PRNewswire/ — The simplicity and lax requirements of digital nomad visas have made them easily accessible, and countries like Portugal and Spain, which have excellent infrastructure, great internet connection, and an outstanding standard of living, draw in more digital nomads by the day, according to experts at Dubai-headquartered citizenship and residency by investment advisors Savory and Partners.
A recent research quoted by the company estimates that there are 16.9 million digital nomads roaming the globe. This is a whopping 162% increase from 2019, just four years earlier.
As soon as Portugal introduced its digital nomad visa in October of 2022, the applications started pouring in. While the government hasn’t announced the number of applications it has received, Portugal’s Labour Minister did announce that the country approved 550 applications within the first six months.
Two months after launching its visa in September of 2021, Greece received 2,918 applications, approving an astonishing 1,693 applicants. The government is yet to release any new statistics, but going off that outstanding start it is safe to assume it is still garnering massive attention.
Germany also boasts impressive numbers, having issued a total of 3,638 visas in just one year since the introduction of its visa in 2018.
According to Residency Malta, the government branch responsible for the digital nomad visa, it has issued 1,041 visas to date, with an average approval rate of 78%.
Croatia, one of the first countries to introduce a pure digital nomad visa in early 2021 as a response to the rise in remote workers, has approved 680 applications, while 672 are still pending approval.
Not just Europe
“It’s not just Europe but even Barbados’ digital nomad visa, dubbed the Welcome Stamp, has been doing outstandingly well, receiving a total of 3,511 applications between 2020 and 2022”, a digital nomad specialist at Savory & Partners reports.
While digital nomads typically use visa-free access or visas to stay in countries for a few months at a time before moving on to the next, digital nomad visas provide a sense of comfort and stability that aligns perfectly with their lifestyle, giving them ample time to enjoy the country they are in before moving on to the next.
Unsurprising demand
The rapid growth in application numbers and the surging demand for digital nomad visas isn’t surprising. They are extremely simple to apply to, have fast processing times ranging from a few days to a couple of months, and they do not require any business establishment or investment.
Portugal’s digital nomad visa, for example, only requires applicants to prove a monthly income of €3,040 per month, while Spain’s visa has a lower threshold of just €2,160 per month.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.
With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company’s multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.
To know more about Savory & Partners, visit www.savoryandpartners.com.
For more information, please send an email to [email protected] can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.
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Artificial Intelligence
Robotic Lawn Mower Market to Reach $2.4 Billion, by 2032 at 10.9% CAGR: Allied Market Research
The increasing demand for smart appliances for garden maintenance by global consumers, along with the development of IOT enabled features is fueling the growth of the robotic lawn mower market.
WILMINGTON, Del., Dec. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Robotic Lawn Mower Market by Range (Low-Range Robotic Lawn Mower, Medium-Range Robotic Lawn Mower, and High-Range Robotic Lawn Mower), End User (Residential User and Commercial User), and Distribution Channel (Retail and Online): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global robotic lawn mower market size was valued at $838.5 million in 2022, and is projected to reach $2.4 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.
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Prime determinants of growth
The robotic lawn mower market is driven by factors such as increase in demand for automation, rise in advancements for technology, and increase in popularity of online platforms. However, the rise in regular maintenance and repair costs restricts market growth. Moreover, the increase in demand for rental robotic lawn mowers offers new opportunities in the coming years.
Report coverage & details:
Report Coverage
Details
Forecast Period
2023–2032
Base Year
2022
Market Size in 2022
$838.5 million
Market Size in 2032
$2.4 billion
CAGR
10.9 %
No. of Pages in Report
250
Segments covered
Range, End User, Distribution Channel, and Region
Drivers
Increase in demand for automation
Rise in advancements for technology
Reduction in the labor costs
Opportunities
Increase in demand for rental robotic lawn mowers
Growth in the adoption of internet of things
Declining Cost of Batteries/Fuel Cells
Restraints
Less adoption in developing markets
Regular maintenance and repair costs
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The medium range robotic lawn mower segment to maintain its leadership status throughout the forecast period
Based on range, the medium range robotic lawn mower segment dominated the market in 2022 accounting for more than half of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the increase in residential and commercial spaces such as buildings, corporate spaces, sports centers, and public parks, which has fueled the requirement for medium range robotic lawn mowers.
The residential segment to maintain its leadership status throughout the forecast period
Based on end user, the residential segment dominated the market in 2022 accounting for less than three-fourths of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.7% from 2023 to 2032, owing to the increase in the demand for low and medium range robotic lawn mowers in the residential sector due to the increased requirement for lawn care and maintenance.
The retail segment to maintain its lead position during the forecast period
On the basis of the distribution channel, the retail segment dominated the market in 2022 accounting for less than half of the market share and is expected to maintain its dominance during the forecast period. The increased demand for ecologically friendly and sustainable robotic lawn mowers, which is being driven by the rising awareness of environmental challenges, is one of the main factors boosting retail sales.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The growing popularity in artificial intelligence for performing day-to-day activities with higher efficiency is among the primary factors driving the Europe robotic lawn mower market.
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Leading Market Players: –
Robert Bosch GmbHHusqvarna ABHonda Motor Co., Ltd.Zucchetti Centro Sistemi S.p.A.Stiga C S.a.r.l.Andreas Holding AG & Co. KGPositec Tool CorporationWiper S.R.L.Suzhou Cleva Electric Appliance Co., Ltd.Stanley Black & Decker, Inc.The report provides a detailed analysis of these key players in the robotic lawn mower market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Read More Trending “AMR Exclusive Insights:
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.USA/Canada (Toll Free):+1-800-792-5285UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: [email protected]: www.alliedmarketresearch.comAllied Market Research Blog:https://blog.alliedmarketresearch.com/consumer-goods
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