Artificial Intelligence
Respiratory Syncytial Virus Market Surges Amid Global Health Concerns: Key Players, Size, Share, Product, Method, Region and Growth Forecast
New York, Aug. 01, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, “Respiratory Syncytial Virus Market is Segmented by Product (Kits and Reagents, Instruments, and Others), Method (Molecular Diagnostics, Rapid Antigen Detection Tests, Immunoassays, Flow Cytometry, Chromatography), End User (Hospitals and Clinics, Clinical Laboratories, and Others) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) – Global Outlook & Forecast 2023-2030″ published by Delvens, the global respiratory syncytial virus market size was estimated at USD 1.05 billion in 2023 and is projected to reach USD 2.2 billion in 2030 at a CAGR of 10.4% during the forecast period 2023-2030.
The Respiratory Syncytial Virus Market research report offers valuable proposals for new development that help organizations optimize their revenue structure and operations. Furthermore, the report also emphasized the issues that influence the global Respiratory Syncytial Virus Market including cost, market share, import, capacity utilization, gross margin, and supply. Moreover, the report also highlights the future scope of the global market for the upcoming period.
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The respiratory virus known as respiratory syncytial virus (RSV) attacks the lungs and bronchioles. The majority of children become unwell from it by the age of two, making it one of the prevalent causes of childhood disease. Adults can also contract RSV. Pneumonia and bronchitis are among the more serious RSV infections. One of the main drivers of market expansion is the rising sickness rate.
Modern technologies like bio- and nanotechnology are helping to develop current RSV detection procedures including the western blot, enzyme-linked immunosorbent test (ELISA), direct immunofluorescence, and real-time polymerase chain reaction (PCR). In addition, government organizations from many nations provide funding for R&D initiatives to create novel treatments. An increase in the number of clinical vaccination studies, an increase in the need for in-vitro diagnostics, an increase in the prevalence of pediatric pneumonia, and an increase in the usage of molecular diagnostics are other factors anticipated to propel the market.
When infants under two years of age experience severe respiratory symptoms, RSV infection is more risky. One of the major drivers propelling market expansion is this, together with parents’ increasing attention on providing for the medical needs of their children. Moreover, variables that promote development include the high survival rates following early diagnosis and the accessibility to diagnostic tools. In addition, expanding healthcare infrastructure and favorable newborn hospital reimbursement policies are propelling market expansion.
The prominent players in the Respiratory Syncytial Virus Market are
BIOMERIEUX
Abbott
F. Hoffman La. Roche Ltd
Danaher
Thermo Fisher Scientific Inc.
Luminex Corporation
BioCartis, Hologic, Inc.
Fast Track Diagnostics Luxembourg S.à r.l.
Beckman Coulter Inc.
Ortho-Clinical Diagnostics
Bio-Rad Laboratories Inc.
DiaSorin S.p.A.
Becton, Dickinson and Company
AbbVie, Inc.
AstraZeneca PLC
Atea Pharmaceuticals
Bausch Health Companies Inc.
Celltrion Inc.
Enanta Pharmaceuticals, Inc
In April 2022, Allplex RV Master Assay acquired the European CE-IVD certification and clearance from Australia’s Therapeutic Goods Administration, according to a release from Seegene Inc. in April 2022. It can discriminate between two kinds of respiratory syncytial viruses and 21 targets for 19 distinct respiratory viruses.
In March 2022, SARS-CoV-2, influenza A and B, respiratory syncytial virus, and Pandemic Response Lab (PRL), a wholly-owned subsidiary of Opentrons Labworks Inc., introduced a condensed respiratory panel in March 2022. (RSV).
Scope of the Report:
Based on medication type, Synagis held the greatest market share of more than 32% in the global market. A medication called Synagis is used to prevent the severe respiratory syncytial virus in vulnerable children and newborns. Furthermore, throughout the course of the projection period, Virazole is anticipated to see the quickest rate of growth. In the worldwide RSV market, the injectable dosage form category has the biggest market share. Also, during the evaluation period, the oral section is anticipated to increase at the quickest rate.
Throughout the projected period, the category with the strongest growth is anticipated to be antiviral medications. The sector growth is anticipated to be supported by the rising hospitalization rate for RSV as a result of the rising illness prevalence. Based on distribution channel, the hospital pharmacies category has the largest market share globally. Hospital pharmacies are the ideal distribution route since all sorts of pharmaceuticals are easily accessible there.
Throughout the study period, it is anticipated that the increasing product releases, research studies examining the advantages of quick antigen testing over other techniques, and significant government and industry-level initiatives will all contribute to the segment’s growth. According to a study published in February 2022 titled “Performance Assessment of a Rapid Molecular Respiratory Syncytial Virus Point-of-Care Test: A Prospective Community Study in Older Adults,” the positive percentage agreement of the rapid antigen test Xpert Xpress Flu/RSV compared to standard RT-PCR is high for RSV detection in older people who live at home. At the point of care, the assay is quick and simple to use. These Tremendous benefits will fuel the market’s expansion.
The respiratory syncytial virus (RSV) diagnostic market is dominated by North America due to the rise in RSV infections. In the projected period of 2023 to 2030, Asia-Pacific is anticipated to develop at the fastest rate due to rising population densities and an increase in the prevalence of infectious illnesses. Additionally, the respiratory syncytial virus (RSV) diagnostic market is anticipated to rise in the approaching years due to the region’s developing healthcare systems and expanding number of government initiatives.
North America to Dominate the Market
The respiratory syncytial virus (RSV) diagnostic market is dominated by North America due to the rise in RSV infections. Also, the region’s rising infant mortality rate and expanding number of key alliances.
The respiratory syncytial virus (RSV) diagnostic market will be driven by the region’s expanding newborn population as well as the rising number of strategic alliances between pharmaceutical giants and in vitro diagnostic manufacturing firms over the course of the forecast period.
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Respiratory Syncytial Virus Market Table of Contents:
The Respiratory Syncytial Virus Market is segmented into various segments such as Product, Method, End User, Drug type, Dosage Form, Distribution channel, and region:
Based on Product, the respiratory syncytial virus market is segmented into:
Kits and Assays
Instruments
Others
Based on the Method, the respiratory syncytial virus market is segmented into:
Molecular Diagnostics
Rapid Antigen Detection Tests
Immunoassays
Flow Cytometry
Chromatography
Others
Based on the End User, the respiratory syncytial virus market is segmented into:
Hospitals and Clinics
Clinical Laboratories
Others
Based on Drug type, the respiratory syncytial virus market is segmented into:
Ribavirin
Synagis
Virazole
Palivizumab
Riba Tab
Others
Based on Dosage Form, the respiratory syncytial virus market is segmented into:
Oral
Injectable
Inhaler
Other
Based on Distribution Channel, the respiratory syncytial virus market is segmented into:
Hospital pharmacies
Drug Stores
Retail pharmacies
Clinics
Based on region, the respiratory syncytial virus market is segmented into:
Asia Pacific
Japan
China
India
Australia
South Korea
Vietnam
New Zealand
Philippines
Thailand
Malaysia
Hong Kong
Taiwan
Singapore
Indonesia
Sri Lanka
Rest of Asia-Pacific
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
Austria
Finland
Belgium
Turkey
Russia
Poland
Hungary
Czech Republic
Switzerland
Netherlands
Rest of Europe
South America
Brazil
Argentina
Chile
Colombia
Rest of South America
Middle East & Africa
South Africa
U.A.E.
Saudi Arabia
Oman
Qatar
Iran
Egypt
Rest of Middle East and Africa
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Frequently Asked Questions (FAQs):
What are the years considered to study Respiratory Syncytial Virus Market?
The Respiratory Syncytial Virus Market is studied from 2023-2030.
What is the compound annual growth rate (CAGR) of the Respiratory Syncytial Virus Market?
The Respiratory Syncytial Virus Market is growing at a CAGR of 10. 4% during the forecast period.
Which region holds the largest market share in Respiratory Syncytial Virus Market?
North America holds the highest share in 2022.
Which region is the fastest growing in Respiratory Syncytial Virus Market?
Asia-Pacific region is the fastest growing region in 2022.
Who are the major players in Respiratory Syncytial Virus Market?
BIOMERIEUX; BD; Abbott; F. Hoffman La. Roche Ltd; Danaher; Thermo Fisher Scientific Inc.; Luminex Corporation; BioCartis, Hologic, Inc.; Fast Track Diagnostics Luxembourg S.à r.l.; Beckman Coulter Inc.; Ortho-Clinical Diagnostics; Bio-Rad Laboratories Inc.; DiaSorin S.p.A.; Becton, Dickinson and Company; AbbVie, Inc.; AstraZeneca PLC; Atea Pharmaceuticals; Bausch Health Companies Inc.; Celltrion Inc.; Enanta Pharmaceuticals, Inc; F. Hoffmann-La Roche AG are the major players in Respiratory Syncytial Virus Market.
The Respiratory Syncytial Virus Market study report provides an inclusive breakdown of the Respiratory Syncytial Virus Market size across the world as regional and nation level market size evaluation, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales examination of the financiers. Along with that, the report clarifies the foremost challenges and risks to face in the forecast period. This Respiratory Syncytial Virus Market research report gives a helpful view regarding the economic outlook of the international market. It comprises detailed picture of the segment demonstration of the key universal players working in the market. The research analysis also prepares historical record with profits expectations during the estimate period and, the business producing of the prominent industrialists are also underlined with methodological records in the report.
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Artificial Intelligence
Simplilearn and Degreed Collaborate to Transform Workforce Development with AI-Enhanced Learning
SAN FRANCISCO, Oct. 2, 2024 /PRNewswire/ — Simplilearn, the world’s leading digital skills training provider, and Degreed, the innovative learning platform, today announced their strategic partnership to offer premier educational content and platform solutions that drive skills-based learning. This collaboration introduces Simplilearn as one of the first to join Degreed’s AI-Ready partner category, integrating Simplilearn’s extensive educational offerings with Degreed’s advanced learning solutions to deliver transformative learning experiences for individuals and enterprises.
Simplilearn has been at the forefront of digital skills training for over a decade, supporting professionals and organizations worldwide with holistic learning experiences that are instructor-led and hands-on. Their comprehensive range of high-quality courses in artificial intelligence, machine learning, cloud computing, data science, and digital marketing is now seamlessly integrated into the Degreed platform. This AI-powered integration equips Learning & Development (L&D) professionals with a more targeted curation experience, simplifying the creation of personalized learning plans and development pathways tailored to the evolving needs of their teams and organizations.
As technology rapidly transforms industries and reshapes job roles, the demand for advanced, practical training is at an all-time high. Degreed’s ‘AI-Ready’ partner category makes it easier for customers to discover, organize, and access relevant learning materials. Through this partnership, a comprehensive suite of courses and resources is more easily discoverable, empowering individuals and organizations to upskill and stay competitive in the fast-evolving tech landscape.
Leveraging AI, the platform will offer personalized course recommendations based on each learner’s background and experience. This intelligent approach ensures that training is relevant and aligned with individual career goals and organizational needs. Additionally, the collaboration offers access to over 700 live classes each month, keeping teams updated with the latest industry trends and technological advancements. Complementing these live sessions are more than 500 courses and role-based learning paths covering essential areas such as AI, cybersecurity, data science, and machine learning.
Mr. Krishna Kumar, Founder and CEO, Simplilearn, said, “Partnering with Degreed represents a pivotal moment in our journey at Simplilearn. This collaboration underscores our commitment to harnessing cutting-edge technology and tailored learning experiences. By integrating Degreed’s advanced AI capabilities with our industry-leading programs, we are poised to redefine how individuals and organizations approach skill development, ensuring a more agile and role-ready workforce.”
Mr. Max Wessel, co-CEO of Degreed, said, “Our partnership with Simplilearn shows our dedication to equipping professionals with the most relevant skills for today’s fast-paced technology landscape. By using AI to power the integration of Simplilearn’s top-tier courses into Degreed, we enhance our ability to offer personalized, precise, and high-impact learning experiences – helping organizations turn the talent they have into the talent they need.”
About Degreed:
Degreed is the enterprise learning company, offering the world’s leading experience platform to drive skill driven development. Degreed enables organizations to collect, understand, and build skills to develop a workforce that’s ready for anything. To learn more about Degreed, visit www.degreed.com.
About Simplilearn:
Founded in 2010 and based in San Francisco, California, and Bangalore, India, Simplilearn, a Blackstone portfolio company, is the world’s leading digital skills provider, enabling learners across the globe. Simplilearn offers access to world-class work-ready training to individuals and businesses worldwide. Simplilearn offers 1,500+ live classes each month across 150+ countries, impacting over 8 million learners globally. The programs are designed and delivered with world-renowned universities, top corporations, and leading industry bodies via live online classes featuring top industry practitioners, sought-after trainers, and global leaders. From college students and early career professionals to managers, executives, small businesses, and big corporations, Simplilearn’s role-based, skill-focused, industry-recognized, and globally relevant training programs are ideal upskilling solutions for diverse career or business goals.
For more information, please visit www.simplilearn.com/
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Artificial Intelligence
Multinational Auto Manufacturer to Insource Service Operations with 3CLogic’s Integrated AI and Contact Center Solution for ServiceNow CSM and ITSM
Leading conglomerate selects 3CLogic’s CCaaS offering, purpose-built for ServiceNow CSM and ITSM, as it insources service desk operations to streamline workflows and save millions in operating costs.
ROCKVILLE, Md., Oct. 2, 2024 /PRNewswire/ — 3CLogic, the leading AI and cloud contact center solution for ServiceNow®, today announced the integration of its AI and CCaaS capabilities by a leading auto manufacturer as it seeks to optimize its service desk operations. Leveraging the company’s existing investment in ServiceNow IT Service Management (ITSM) and Customer Service Management (CSM), the collaboration is expected to enhance productivity, improve issue resolution, and significantly reduce operating expenses.
Manufacturing tens of millions of vehicles and equipment annually, supported by a vast network of over 150,000 associates and affiliates, the organization faced challenges due to the limited insights and services provided by its outsourced contact center. Among the most impactful was the lack of integration to its back-office ServiceNow IT and Customer workflows, where the siloed structure negatively impacted the organization’s visibility into performance, process improvements, and service speed.
“We are delighted to support this strategic initiative,” explains Denis Seynhaeve, CEO at 3CLogic. “This is yet another example of a large enterprise organization eager to reclaim ownership of its internal and external support services to enable better experiences through automation, simplification of its technology stack, and tactical use of AI for better insights.”
3CLogic’s integrated AI and contact center solution with ServiceNow CSM and ITSM will deliver a number of capabilities, including AI-powered call transcription and sentiment analysis, automated agent performance and coaching, after-hours voicemail transcription, integrated SMS alerts & notifications, and consolidated reporting with ServiceNow’s native performance analytics. The insourcing of services and process efficiencies are expected to generate approximately $2.6 million in ROI within the first three years of deployment. In addition, the organization is exploring the consolidation of its HR service delivery to unify its operations further.
As the first and only ServiceNow-certified Advanced Platform CCaaS partner, 3CLogic displays a unique approach to streamlined employee and customer workflows for ServiceNow and is expected to discuss its latest AI and contact center capabilities for ServiceNow ITSM, CSM, HRSD, and source-to-pay at the upcoming World Forums in Dallas, TX, on October 8th, 2024, in Munich, Germany, on October 23rd, 2024, and in New York City, NY, on November 7th, 2024.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Artificial Intelligence
Life Science Analytics Market to Hit USD 61.94 Billion by 2029 with 11.7% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 2, 2024 /PRNewswire/ — The global life science analytics market is projected to grow from USD 35.69 billion in 2024 to USD 61.94 billion by 2029, at a robust CAGR of 11.7%. Key drivers include advancements in analytical technologies that streamline data management and enhance insights from diverse sources like clinical trials and electronic health records, alongside rising demands for precision medicine. However, challenges such as data privacy concerns and a shortage of skilled professionals hinder progress. Noteworthy collaborations, like those between TetraScience and Databricks, exemplify the trend towards leveraging AI for improved outcomes in drug development and clinical trials. North America leads the market, fueled by high healthcare expenditure and a focus on innovation, while descriptive analytics currently dominates the market segments. Overall, the life science analytics landscape is evolving rapidly, presenting both opportunities and challenges that stakeholders must navigate to enhance research and operational efficiencies.
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Browse in-depth TOC on “Life Science Analytics Market”
455 – Tables54 – Figures385 – Pages
Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing life science analytics by enabling advanced data analysis, pattern recognition, and predictive modeling, which are crucial for enhancing drug discovery, clinical trials, and personalized medicine. Companies are investing in leveraging AI & ML across their product lifecycles. In February 2024, Trinity Life Sciences launched Brand Insights AI, a new tool designed to enhance biopharmaceutical brand research by ingesting data from various sources, accelerating analysis, and revealing hidden patterns. This powerful tool leverages Trinity’s AI expertise to refine insights and optimize the use of existing information, supporting impactful and efficient research across the pharmaceutical commercialization spectrum.
The global life science analytics market is segmented into descriptive, prescriptive, and predictive analytics, by type. The prescriptive analytics segmented is expected to register highest growth during the forecast period. The high growth of this market is. driven by its ability to offer actionable recommendations, optimize decision-making, and streamline complex processes such as clinical trial management and personalized medicine. Its advanced predictive capabilities help stakeholders minimize risks, enhance treatment outcomes, and improve operational efficiency. Additionally, the excrubating demand for precision medicine and real-time data-driven strategies further fuels its adoption.
The life science analytics market is divided into services, and software, by component. In 2023, the largest share of life science analytics market belonged to the services segment. The high adoption of life science analytics services over software is driven by the need for specialized expertise and tailored solutions that go beyond the capabilities of standalone software. Increased security, improved cost effectiveness, better usability & flexibility, and improved integration capabilities of services are a few factors impacting market growth. Moreover, the escalating user base and changing needs of companies looking for all-inclusive solutions and support, coupled with the adoption of life science analytics software, generate demand for a range of services, including modification, implementation, and consulting.
The surging adoption of advanced analytics in commercial operations within the life sciences sector is revolutionizing how companies cultivate market strategies & enhance business performance to optimize product launches by providing insights into market trends, competitive landscapes, and customer preferences. Companies are leveraging various organic & inorganic strategies to expand their offerings in commercial operations. For instance, in April 2024, IQVIA and Salesforce expanded their global strategic partnership to accelerate the development of Salesforce’s Life Sciences Cloud, a next-generation customer engagement platform. This collaboration will combine IQVIA’s Orchestrated Customer Engagement (OCE) platform with Salesforce’s CRM, offering an end-to-end solution for transforming healthcare professional and patient engagement in the life sciences industry.
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The prominent players operating in the Life science analytics market include Oracle (US), Merative (formerly IBM) (US), SAS Institute (US), Accenture (Ireland), IQVIA (US), Cognizant (US), Wipro (India), Veradigm (US), Optum (US), Microsoft (US), MaxisIT (US), ExlService Holdings (US), Inovalon (US), CitiusTech (US), Saama (US), Axtria (US), Clarivate (UK), ThoughtSphere (US), ThoughtSpot (US), Salesforce (US), Google LLC (US), Amazon Web Services, Inc. (US), Veeva Systems (US), Elsevier (Netherlands), and Komodo Health, Inc. (US). These companies adopted strategies such as product launches, product updates, expansions, partnerships, collaborations, mergers and acquisitions to strengthen their market presence in the life science analytics market.
These players not only have a comprehensive and diverse product portfolio but also a strong geographic presence. Owing to the emergence of new application areas for life science analytics, these players can focus on technologies and offerings dedicated towards research & development, commercial operations, safety, etc.
These market players have offered a diverse range of products and services and have operations worldwide. They rely on technological advancements to avail themselves of innovative products and services and increase their global footprint. These players focus on acquisitions, collaborations, agreements, mergers, product launches & updates, partnerships, expansions, and other recent developments to expand their global reach and develop advanced life science analytics solutions.
Oracle (US) is one of the leading life science analytics companies across the globe. The company provides analytics software & services for various applications including research & development, commercialization, among others. The company focuses on continuously updating its products and meeting customer expectations. Oracle also continuously invests in expanding its solutions by partnerships & collaborations to provide tailored solutions to its end users. For instance, in February 2024, Oracle partnered with ObvioHealth, Inc. to integrate diverse data in decentralized clinical trials and analyze health data from several sources for clinical trials anywhere globally. The company holds a broad customer base and a wide geographic presence, making Oracle as a critical player in various IT software, hardware, and service-related markets, including the life science analytics market.
Merative (US) is one of the prominent players operating in the life science analytics market. Merative offers a comprehensive suite of informatics products and services for life science analytics. The company leverages advanced technologies such as artificial intelligence (AI), machine learning (ML), and other technologies to strengthen the accuracy and efficiency of evidence analysis. The company has a strong brand recognition and extensive product portfolio that has contributed to its success. The company serves life science systems, clinical trial sponsors, and medical device manufacturing industries. The company has established offices across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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