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Smart Healthcare Market Set to Witness Unprecedented Growth of USD 541 Billion by 2032 – Market.us Report

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New York, May 01, 2023 (GLOBE NEWSWIRE) — The global smart healthcare market will experience significant growth in the coming years, with its market size expected to exceed USD 541 billion by 2032. This projection reflects a remarkable increase from its current value of USD 184 billion in 2022. Additionally, the industry is anticipated to maintain a compound annual growth rate (CAGR) of 15.7% between 2023 and 2032.

Due to COVID-19’s arrival, smart healthcare products saw an unexpected spike in demand. Adoption of these technologies has increased during this pandemic situation and is projected to grow even more post-COVID-19. Many businesses are expanding their products and services; for instance, Vera Smart Health invested around USD 20 billion into home testing/diagnosis, remote health services, medication delivery services, virtual care services, and nutrition consultation services – creating substantial demand for these smart healthcare items due to the emergency created by COVID-19.

Smart Healthcare Market

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Key Takeaway:

  • By product, in 2022, the m-Health segment dominated the market with a 34% market share.
  • By application, storage and inventory management segment dominated the market with 29% market share.
  • By end-user, the hospital segment dominates the market with 38% market share.
  • In 2022, North America dominated the market with the highest revenue share of 36%.
  • APAC is expected to grow at a greater pace owing to affordable prices, increasing medical tourism, as well as hospitals and clinics, among other factors.

Factors affecting the growth of the smart healthcare industry

  • Technological Advancements: The advancements in technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data analytics have revolutionized healthcare. These tools allow for the creation of smart healthcare solutions that can improve patient outcomes, reduce costs, and elevate the overall quality of care.
  • Rise in Demand for Personalized Healthcare: Patients are increasingly seeking personalized healthcare solutions tailored to their individual needs. Smart health solutions, such as wearable devices, mobile health apps, and remote monitoring tools can offer patients customized care and help them manage their health more effectively.
  • Aging Population: An aging population is driving demand for healthcare services and necessitating more efficient and cost-effective solutions. Smart healthcare technologies can address issues associated with an aging population, such as chronic disease management and long-term care requirements.

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Market Growth

Factors such as the rising prevalence of chronic diseases, demand for telemedicine and remote patient monitoring solutions, and increased adoption of advanced technologies like AI and IoT in healthcare are all driving the growth of this market. The COVID-19 pandemic has hastened the adoption of smart healthcare solutions, as healthcare providers strive to minimize in-person interactions and prioritize remote care. As a result, demand for telemedicine, remote patient monitoring, and digital health solutions has skyrocketed – expected to fuel growth in this space over the coming years.

Regional Analysis

North America is currently the leading market for smart healthcare due to well-established healthcare infrastructure, supportive government initiatives, and widespread adoption of advanced technologies. However, Asia-Pacific is expected to experience the highest growth rate during this forecast period due to expanding demand for healthcare services, increased government investments in technology-related initiatives, and an expansive patient pool. Overall, the smart healthcare market is expected to experience rapid growth over the coming years due to technological advancements, shifting patient expectations, and a need for more efficient and cost-effective healthcare solutions.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 184 billion
Market Size (2032) USD 541 billion
CAGR (from 2023 to 2032) 15.7%
North America Revenue Share 36.0%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

  • Technology Advancements: Thanks to advancements such as the IoT, AI, and big data analytics, healthcare providers can now collect and analyze vast amounts of patient data. This has allowed for the creation of smart healthcare solutions that are more efficient, accurate, and effective.
  • Increased Demand for Personalized Healthcare: Patients are increasingly seeking personalized healthcare solutions tailored to their individual needs. Smart technologies such as wearable devices, mobile health apps, and remote patient monitoring systems give healthcare providers the tools needed to deliver tailored care and improve patient outcomes.
  • Healthcare Cost Increases: Healthcare costs are on the rise, prompting governments and providers to search for ways to cut expenses while improving patient outcomes. Smart healthcare solutions such as telemedicine and remote patient monitoring can reduce the need for in-person consultations or hospitalization, leading to cost savings both for patients and healthcare providers alike.
  • Aging Population: As the population ages, so too do their healthcare needs. Smart solutions like remote patient monitoring, medication reminders, and fall detection systems can help healthcare providers better meet these demands.

Market Restraints

  • High implementation costs: Smart healthcare technologies such as AI, IoT, and big data analytics require substantial investments in hardware, software, and infrastructure to become viable. Their high costs may prevent their widespread adoption – particularly in developing countries with limited resources.
  • Data Privacy and Security Concerns: Smart healthcare technologies involve the collection, storage, and sharing of sensitive patient data which raises concerns about data privacy and security. Healthcare providers must guarantee that patient records remain protected from cyber threats and unauthorized access – something which can be a daunting challenge.
  • Limiting Healthcare IT Infrastructure: Many healthcare providers, particularly in developing countries, lack adequate IT infrastructure and resources to adopt smart healthcare technologies. This lack of capacity could impede the adoption of these solutions in remote or rural areas.

Market Opportunities

  • Remote Patient Monitoring: Smart healthcare solutions enable healthcare providers to keep an eye on patients outside traditional clinical settings, potentially improving outcomes and cutting costs in the process.
  • Predictive Analytics: Modern healthcare solutions use data analytics to anticipate and prevent health issues before they happen, allowing healthcare providers to offer proactive care rather than reactive treatment. This allows them to achieve optimal patient outcomes.
  • Telemedicine: Telemedicine, which involves providing healthcare services remotely, presents significant potential for the smart healthcare market. Telemedicine can increase access to quality care for those living in remote or rural areas.
  • Wearable Devices: Wearable devices such as smartwatches and fitness trackers can collect patient data to provide real-time monitoring to empower patients to better manage their healthcare, and healthcare providers to offer personalized care. However, some healthcare professionals and patients may be resistant to change or prefer traditional methods of healthcare which could impede the adoption of new technologies.

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Report Segmentation of the Smart Healthcare Market

Product Type Insight

Analysis of product types reveals that the m-Health segment leads the market with a 34% share. The growth in this market can be attributed to rising internet usage, smartphones, and the adoption of mHealth apps. Wearable devices like Apple’s Fitbit and MI are having an increasingly positive effect on it as well. In April 2020 Proxxi, a Canadian firm, released Halo – their first wearable device. RFID adoption is being driven by several trends, including supply chain management, automation, real-time intelligence, and asset tracking. RFID helps hospitals quickly and more efficiently detect issues in their workflow, while Real-Time Location Systems (RTLS) utilize RFID for tracking newborn babies as well. As a result, the market size for this segment is expected to expand over the forecast period. Telemedicine was the second fastest growing segment in the market for smart healthcare, as COVID-19 spreads worldwide.

Application Insight

The application analysis, storage, and inventory management segment leads the market with a share of 29%. Smart healthcare technologies can be employed for efficient management of medical supplies and inventory, including medication and equipment. For instance, RFID (Radio Frequency Identification) technology is one such example that hospitals can utilize to track and manage their medical supplies and equipment.

Smart healthcare technologies can be employed for monitoring patients’ health and well-being. This includes wearable devices, smart sensors, and remote monitoring systems that track vital signs, medication adherence, and other health-related data. Smart healthcare technologies can be employed to improve treatment outcomes, such as personalized medicine, drug delivery, and surgery. For instance, robotic surgery and telesurgery technologies are being developed to improve surgical outcomes while reducing complications. Smart healthcare technologies can also be applied for other purposes, such as health analytics, data management, and patient engagement. These tools assist healthcare providers in better comprehending patient needs, improving care quality, and improving the patient experience.

End User Insight

According to End-User analysis, the hospital segment dominates the market with a 38% share. Hospitals and clinics are the primary users of smart healthcare technologies such as electronic health records, remote patient monitoring, and telemedicine. These tools enable healthcare providers to provide better care while increasing operational efficiency. Patients are becoming more involved in their care through wearable devices, mobile health apps, and other technologies that allow individuals to monitor their condition, track medication adherence, and communicate with healthcare providers. Pharmaceutical and Biotechnology Companies: Pharmaceutical and biotechnology companies can leverage smart healthcare technologies for clinical trials, drug development, and patient engagement initiatives.

Recent Development of the Smart Healthcare Market

  • Increased Adoption of AI and Machine Learning: AI and machine learning technologies are becoming more commonly utilized in healthcare to enhance patient outcomes and operational efficiency. For instance, AI-powered diagnostic tools are being created to assist doctors in diagnosing diseases more accurately and quickly.
  • Expanding Use of Wearable and IoT Devices: Wearable devices and other IoT technologies are being employed to monitor patient health, collect data that can be used for improving patient outcomes, track medication adherence, and detect potential health issues before they become serious. These tools also have the potential to track medication adherence as well as monitor medication adherence.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/smart-healthcare-market/request-sample/

Market Segmentation

Based on Product Type

  • Telemedicine
  • Electronic Health Records
  • m-Health
  • Smart Pills and Syringes
  • RFID Kanban Systems
  • Smart RFID Cabinets
  • Others

Based on Application

  • Storage and Inventory Management
  • Monitoring
  • Treatment
  • Others

Based on End-User

  • Hospitals
  • Home Care Settings
  • Others

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

Smart healthcare is an emerging field that uses technology to improve healthcare delivery, patient outcomes, and operational efficiency. The key players in the smart healthcare market include:

  • AirStrip Technologies Inc.
  • Allscripts Healthcare Solutions
  • Apple Inc.
  • AT&T Inc.
  • Brooks Automation
  • Cerner Corporation
  • Cisco Inc.
  • GE Healthcare
  • Given Imaging, Inc.
  • Hurst Green Plastics Ltd.
  • IBM Inc.
  • Logi-Tag
  • McKesson Corporation
  • Olympus Corporation
  • Pepperl+Fuchs
  • Samsung Electronics Corporation
  • Siemens Medical Solutions
  • Solstice Medical LLC
  • Stanley Innerspace
  • Bollhoff Group
  • Wurth Group
  • Other companies

Browse More Related Reports:

  • Connected healthcare market size is expected to be worth around USD 520.6 billion by 2032 from USD 58.2 billion in 2022, growing at a CAGR of 25.2% during the forecast period from 2023 to 2032.
  • Healthcare CRM market was valued at USD 13 billion and is expected to grow to USD 45 billion in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 13.6%.
  • Generative AI in healthcare market was valued at USD 0.8 billion in 2022 and is expected to be valued at USD 17.2 billion in 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 37.0%.
  • Healthcare cloud computing market size is expected to be worth around USD 201.1 billion by 2032 from USD 41.4 billion in 2022, growing at a CAGR of 17.6% during the forecast period from 2023 to 2032.

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Artificial Intelligence

More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

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Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 
Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 

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J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

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In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Artificial Intelligence

Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

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SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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View original content:https://www.prnewswire.co.uk/news-releases/congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024-302148973.html

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