Connect with us
European Gaming Congress 2024

Artificial Intelligence

Neuroscience Market to Surpass US$ 43.32 Billion by 2030, Says Coherent Market Insights (CMI)

Published

on

<!– Name:DistributionId Value:8842845 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:2791 –> <!– Name:CustomerId Value:1102594 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:5170c4c8-a2fc-4147-b33e-e323ca68631b –>

Burlingame, May 19, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global neuroscience market is estimated to be valued at US$ 32.75 billion in 2023 and is expected to exhibit a CAGR of 4.1 % during the forecast period (2023-2030).

Analysts’ Views on Global Neuroscience Market:        

Increasing cases of neurological disorders including Alzheimer’s, Parkinson’s diseases, and other dementias is expected to drive the global neuroscience market growth over the forecast period. For instance, according to Alzheimer’s Disease Association, in 2022, neurodegenerative diseases affect millions of people worldwide. Alzheimer’s disease and Parkinson’s disease are the most common neurodegenerative diseases. According to National Institute of Health (NIH) 2021 U.S., 6.2 million people suffered with Alzheimer Disease and nearly millions of americans had parkisons disease.

Global Neuroscience Market – Driver

Advertisement
Stake.com

Inorganic Strategies Adopted by the Major Players

Major market players are focusing on adopting inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, and this is expected to drive the market growth over the forecast period. For instance in march 2022, AbbVie inc., a pahramceutical company has completed the acquisition of Syndesi Therapeutics SA, which will help to expand AbbVie’s neuroscience portfolio. This acquisition gives AbbVie Inc., access to Syndesi’s portfolio of novel modulators of the synaptic vesicle protein 2A (SV2A), including its lead molecule SDI-118.

Request Sample copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/2487

Global Neuroscience Market – Restraint

High cost of Instruments is expected to hinder the market growth

Advertisement
Stake.com

For instance, according to data published by The National Center for Biotechnology Information (NCBI) in Augest 2019, the cost of fixed and mobile CT scanner, as well as the purchasing and establishing cost of the fixed CT scanner, range from US$ 524,182-757,742.

Global Neuroscience Market – Opportunity

Incresing collaboration of market players for drive the of neuroscience market

Global neuroscience market is expected to witness significant growth over the forecast period, Increasing collaboration of market players for neurological diseases managment. For instance, in January 10, 2023 Axol Bioscience, is a customer service provider for iPSC-based neuroscience, immune cell, and cardiac modeling for drug discovery company announce a strategic partnership with NETRI to launch organs-on-chip kits including both NETRI’s neuro-organs-on-chip devices and Axol’s human induced pluripotent stem cells (hiPSC) with reagents to boost pharmaceutical industry access to organs on chip.

Neuroscience Market Report Coverage

Advertisement
Stake.com
Report Coverage Details
Base Year: 2022   Market Size in 2023: US$ 32.75 Bn
Historical Data for: 2017 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 4.1%   2030 Value Projection: US$ 43.32 Bn 
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Component: Instrument, Software, Services 
  • By End User: Hospitals, Diagnostic Laboratories, Research Institutes, Academic Institutes
Companies covered: Alpha Omega, Inc., GE Healthcare, Axion Biosystems, Inc., Siemens Healthineers, Scientifica Ltd., Blackrock Microsystems LLC, Femtonics Ltd., LaVision Biotec GmbH, Intan Technologies, NeuroNexus Technologies, Inc., Newport Corporation, Neuralynx Inc., Plexon Inc., Mediso Medical Imaging Systems, Noldus Information Technology, Sutter Instrument Corporation, Thomas Recording GmbH, Trifoil Imaging Inc.
Growth Drivers:
  • Increasing Research and development by key market players
  • Inorganic Strategies Adopted by the Major Players
Restraints & Challenges:
  • High Cost of the Equipment

Global Neuroscience Market- Key Trends

Incresing in product launches by the market players expected to aid in market growth

Introduction of new products is liket drive the growth of market. Fos instace, in Febuary, 2023, accoding to the BioInteractions, Biotechnology company, announced has partnership offering at MD&M , developed into one of the leading medical device trade shows in the US. launches expanded medical devices TridAnt, as well as the widely proven Astute and Assist solutions.

Global Neuroscience Market Cross Sectional Analysis

Increasing product launches by market players is expected to drive the market growth. North America is expected to dominate the market due to robust healthcare sector in this region. Key firms are concentrating on launching new products to maintain their position in the industry. For instance, on 17 january 2023, Siemens Healthcare Private Limited, is a German medical device company has announced the launch of Centre of Excellence for Immunoassay Instrument for used to detect infectious diseases, cancer and blood disorders.

Global Neuroscience Market – Segmentation

Advertisement
Stake.com

Global neuroscience market report is segmented into componant type, end user, and region.

Based on Component, the market is segmented into instrument, software and services. Out of which, instrument segment is expected to dominate the global neuroscience market during the forecast period, owing to increasing usage of instrument in a diagnosis of disease.

Based on End User, global neuroscience market is segmented into hospital, diagnostic laboratories, research institutes, and academic institutes. Out of which, hospital segment is expected to dominate the global neuroscience market over the forecast period, due to a rise in the prevalence of neuronal imbalance diseases and market demand

Based on Region, the global neuroscienece market is segmented in North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. Out of which, North America region is expected to dominate the global neuroscience market over the forecast period, owing to increasing demand of manufacturing diagnosis instrument in the neuroscience market.

Global Neuroscience Market: Key Developments        

Advertisement
Stake.com

In Septmber 2022, Sutter Instrument, is manufacture of specialized biomedical research instrumentation company has announced it will added WaveMetrics its developer of Igor Pro software, it set to build software applications for neuroscience.

Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/2487

Key Market Take aways:

Global Neuroscience Market is expected to exhibit a CAGR of 4.1% during the forecast period, due to increasing product launches by the key market players. For instance, in Febuary 2023, Pfizer Inc., an U.S.-based multinational pharmaceutical and biotechnology corporation, announced that The Lancet Neurology has published nasel spray is used for the acute treatment of migraine in adults.

Among end user, the hospital segment is estimated to hold a dominant position in the global neuroscience market over the forecast period. For instance, in April 2022, Geisinger, is health and wellness organization and Eisai Inc is a Japanese pharmaceutical company has anoounce to collaborative effort to study the potential effectiveness on artificial intelligence (AI) tools in the detection of cognitive impairment that could identify dementias and Alzheimer’s disease (AD).

Advertisement
Stake.com

The companies launched a range of programs intended to support access for all qualified patients including traditionally underserved populations. These initiatives aim to help patients and their families understand the disease, navigate the diagnostic journey, secure culturally competent care and afford treatment.

Competitive Landscape:

Key players operating in the global neuroscience market include Alpha Omega, Inc., GE Healthcare, Axion Biosystems, Inc., Siemens Healthineers, Scientifica Ltd., Blackrock Microsystems LLC, Femtonics Ltd., LaVision Biotec GmbH, Intan Technologies, NeuroNexus Technologies, Inc., Newport Corporation, Neuralynx Inc., Plexon Inc., Mediso Medical Imaging Systems, Noldus Information Technology, Sutter Instrument Corporation, Thomas Recording GmbH, and Trifoil Imaging Inc        

Request Customization of this Report @ https://www.coherentmarketinsights.com/insight/request-customization/2487

Market Segmentation:

Advertisement
Stake.com
  • Global Neuroscience Market, Component
    • Instrument
    • Software
    • Services
  • Global Neuroscience Market, By End User
    • Hospitals
    • Diagnostic Laboratories
    • Research Institutes
    • Academic Institutes
  • Global NeuroscienceMarket, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country:
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa

Related Market Intelligence Reports:

Cardiac Remote Patient Monitoring Device Market, by Application (Cardiac Arrhythmias, Ischemic Diseases, and Hypertension), by End Users (Hospitals, Cardiac Clinics, Ambulatory Surgery Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022 – 2028

Physiotherapy Equipment Market, By Product (Equipment (Hydrotherapy, Cryotherapy, Continuous Passive Motion (CPM), Electric Stimulation, Heat Therapy, Therapeutic Exercises, and Ultrasound) and Accessories), By Application (Musculoskeletal, Neurology, Cardiovascular and Pulmonary, Pediatric, and Others), By End User (Hospitals, Clinics, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Follow Us: LinkedInTwitter

Advertisement
Stake.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

ZA Tech Rebrands as Peak3, Raises US$35M Series A led by EQT

Published

on

za-tech-rebrands-as-peak3,-raises-us$35m-series-a-led-by-eqt

SINGAPORE, June 19, 2024 /PRNewswire/ — ZA Tech, the next-generation insurance core system SaaS provider, has rebranded as Peak3. With the successful completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures, Peak3 now accelerates its expansion in the EMEA region and investments in complementary data and AI solutions.

In a market dominated by fragmented legacy technology, Peak3 has pioneered a cloud-native, modular insurance core and distribution system that combines comprehensive capabilities for life, health, and property and casualty (P&C) insurance. Since its founding in 2018, Peak3 has become a trusted technology partner to global insurers such as AIA, Generali, Prudential, and Zurich for their digital and traditional business. It has also partnered with leading digital platforms such as Carro, Grab, Klook, and PayPay to build and scale their embedded insurance businesses.
Besides the successful fundraising, Peak3 has recently achieved key milestones underpinning the rebranding. These transformative achievements include launching its first multi-country, multi-tenant core modernisation in Europe, rolling out an integrated customer data and big data platform for scaling analytics and AI capabilities, and establishing its first technology centre in Europe. The rebranding coincides with another major milestone: Issuing over a billion insurance policies on Peak3’s systems – including the first policies issued to North American customers and the first ones to be issued in Africa.
“We have evolved from an embedded insurance pioneer in Asia to a global end-to-end technology partner for the insurance industry,” said Bill Song, Peak3 Group CEO and Co-Founder. “Our new name represents three pinnacles: scaling the heights of innovation, surpassing performance limits, and delivering superior reliability – as we help insurers reach the highest summits of their cloud, data, and AI transformation.”
Bill Song also emphasised the growth opportunity: “There is an incredible tech investment backlog in the US$7-trillion global insurance industry. Continued digitalisation and the proliferation of AI will require structural investments by insurers over the next decade to modernise their core systems. We are uniquely positioned to capture this opportunity by providing the tech core foundations and innovation use cases.” 
To accelerate its growth journey, Peak3 completed its Series A fundraising and welcomed two new investors on its cap table: EQT, a major global technology investor with a deep heritage in Europe, and Alpha JWC Ventures, a leading venture firm in Southeast Asia. With the funding, Peak3 will advance its analytics and AI capabilities toward an intelligent core insurance solution, grow its EMEA operations and establish new system integrator partnerships. Peak3 targets double-digit ARR growth this year and is on the path to reach cashflow breakeven over the coming quarters.
“Peak3 has also proven its capability to deliver greenfield digital insurance initiatives and complex multi-country core modernisation projects in APAC and EMEA. As the lead investor, EQT is committed to empowering Peak3 in its go-to-market acceleration by leveraging our global network,” stated Clara Ho, Partner at EQT.
J.P. Morgan acted as exclusive financial advisor to Peak3 for this Series A fundraising.
For media inquiries and interview requests, please contact Carling Sia, Global Head of Branding and Marketing, at [email protected].
For more information on Peak3, please visit www.peak3.com. For more information on EQT, please visit www.eqtgroup.com.For more information on Alpha JWC Ventures, please visit www.alphajwc.com.
Photo – https://mma.prnewswire.com/media/2439599/Peak3_PR_Announcement_Photo__002.jpg

View original content:https://www.prnewswire.co.uk/news-releases/za-tech-rebrands-as-peak3-raises-us35m-series-a-led-by-eqt-302175431.html

Continue Reading

Artificial Intelligence

Lucinity Recognized as One of the Top 100 AI Fintech Companies Globally

Published

on

lucinity-recognized-as-one-of-the-top-100-ai-fintech-companies-globally

REYKJAVIK, Iceland, June 18, 2024 /PRNewswire/ — Lucinity has been featured in the AIFinTech100 list for 2024, marking its recognition as one of the top AI companies in the financial services industry. The AIFinTech100 list, curated by industry experts, highlights the most innovative fintech companies globally. Lucinity was selected from over 2,000 fintech firms for its problem-solving, market potential, innovation, and customer engagement. Earlier this year, Lucinity was also highlighted as a RegTech100 company.

 
 
This recognition comes amid rapid AI adoption in fintech. According to Fintech Global, research predicts the AI market in fintech will grow from $42.83 billion to $44.08 billion by 2024, reaching $50.87 billion by 2029. Banks alone are expected to spend $4.9 billion on AI platforms by 2024, with a 21.8% annual growth rate since 2019.
Lucinity’s inclusion in the AIFinTech100 list reflects its success in developing AI solutions that enhance efficiencies and cost savings for financial crime operations teams. Notably, Luci, the world’s first Generative AI copilot for financial crime investigations, launched in 2023, leverages Microsoft OpenAI technologies to augment human analysts’ capabilities, reducing investigation times from 3 hours to just 30 minutes. 
Lucinity also recently launched Luci as a copilot plugin at Money20/20. Financial institutions are now able to integrate Luci with any web-based enterprise application including CRM systems, Case Manager systems, and Excel, delivering immediate ROI with zero upfront integration. 
Security remains a significant challenge in AI adoption. Lucinity addresses this by partnering with Microsoft Azure develop a secure infrastructure. With a strong emphasis on compliance, Luci offers comprehensive auditability through its detailed Audit Log functionality.
Guðmundur Kristjánsson (GK), CEO of Lucinity, comments, “Being named in the AIFinTech100 showcases our impact amongst banks and fintech through advanced AI. It underscores our platform’s ability to empower compliance teams, deliver ROI, and reduce operational costs.”
Richard Sachar, Director of FinTech Global, added, “AI is revolutionizing financial services, increasing efficiencies and offering personalized products. This year’s AIFinTech100 list includes top innovators transforming the industry with AI applications.”
Lucinity’s inclusion in the AIFinTech100 list for 2024 follows several achievements, including winning the Microsoft Partner of the Year Awards for Sustainability and Social Impact and Partner of the Year – Iceland. Lucinity was also included in Chartis Research’s FinCrime and Compliance 50 Ranking for 2024 and was recognized as the best tool for Workflow Automation.
Name: Celina PabloEmail: [email protected] +354 792 4321
Logo – https://mma.prnewswire.com/media/2208676/4770157/Lucinity_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/lucinity-recognized-as-one-of-the-top-100-ai-fintech-companies-globally-302176061.html

Continue Reading

Artificial Intelligence

CRISIL wins Model Validation Tools and Accelerators category award, other recognitions from Chartis

Published

on

crisil-wins-model-validation-tools-and-accelerators-category-award,-other-recognitions-from-chartis

Recognized among top 50 financial services firms for analytics and risk tech
MUMBAI, India, June 18, 2024 /PRNewswire/ — CRISIL, a global provider of advanced analytics and risk management solutions, has won the Solution Category award for Model Validation Tools and Accelerators as part of the latest Chartis STORM 2024 report.

Published by Chartis Research, the leading provider of research and analysis on the global market for risk technology, STORM 2024 is an annual report on quantitative technologies and the computational infrastructure supporting it.
Following an extensive evaluation process, which included a risk technology survey, product demo, customer reference checks, and third-party sources of information, CRISIL won the following recognitions:
Solution category award for Model Validation Tools and AcceleratorsRanked Top 25 (#24) in QuantTech50 2024 rankingsRanked Top 25 (#24) in BuySideRisk50 2024 rankingsRanked Top 50 (#38) in RetailFinanceAnalytics50 2024 rankingsThe recognitions reflect the unparalleled value CRISIL brings to its clients through deep domain expertise, specialized analytical and technical knowledge and our global perspective.
Says Jan Larsen, President and Head, CRISIL Global Research & Risk Solutions, “CRISIL is honored by the recognition across multiple STORM50 award categories this year, including being named first place for Model Validation Tools and Accelerators. This is a great testament to the contributions of our team in giving clients and their regulators confidence in the models they use for making critical decisions.”
The core tenets of CRISIL’s value proposition include expertise across asset classes and risk stripes, analytical excellence and regulatory experience, tailored solutions focused on client delight, continuous improvement and technological innovation. 
Says Ashish Vora, President, CRISIL Market Intelligence and Analytics, “This prestigious recognition underscores the global acceptance of our risk management solutions and highlights our unwavering commitment to excellence in the risk technology space. Our Credit+ technology solutions have been instrumental in offering AI-enabled advanced analytics and driving efficiency, and we are particularly proud of the exceptional client feedback we have received for these solutions. We are constantly exploring new ways to enhance customer value and are investing in cutting-edge technology and domain expertise to maintain our position at the forefront of the industry.”
Notable examples of CRISIL’s platforms that help demonstrate this value proposition include: 
Model Infinity: A leading platform for model inventory management and model risk management. This innovative platform empowers our client to centralize all model activities, eliminates manual processes and operational risk, and provides a full audit trail of approvals for modeling assumptions and updates. Scenario Expansion Manager (SEM): A platform for clients to expand, analyze and track all regulatory and internal scenarios used for stress testing. As a centralized repository of scenarios, SEM allows institutions to eliminate redundant internal work and even provide clients the ability to share internal scenarios with one another. Credit+ ICON: The platform enables credit decision-making through its extensive financial spreading and front-end based credit risk scorecard hosting capabilities. Powered by deep domain expertise, AI-driven analytics and extensive configurability, it serves 40+ global clients across 15 countries.Credit+ Early Warning Signals: The AI-powered solution provides banks with actionable insights to monitor their credit quality, lower loan-loss contingencies and track corrective action plan.About CRISIL Market Intelligence & Analytics
About Global Research & Risk Solutions
About CRISIL Limited
Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK 
CRISIL PRIVACY
Disclaimer
This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL. However, CRISIL alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.
CRISIL has taken due care and caution in preparing this press release. Information has been obtained by CRISIL from sources which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. CRISIL, especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
Logo – https://mma.prnewswire.com/media/2211784/4276223/CRISIL_logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/crisil-wins-model-validation-tools-and-accelerators-category-award-other-recognitions-from-chartis-302175882.html

Continue Reading

Trending