Industry Research Report

Wednesday, 5 May 2021

Gaucher Disease Treatment Market Manufacturers, Opportunities, Challenges, Drivers and Growth

The global Gaucher Disease Treatment Market is anticipated to reach USD 2.11 billion by 2025 according to a new report published by Polaris Market Research. In 2017, treatment type, Enzyme Reduction Treatment segment capture the largest market shares in terms of revenue and hold the major share in the market. Regionally, North America accounted for the major share in the Gaucher Disease Treatment Market.

The Gaucher Disease Treatment Market is majorly driven by the factors such as increasing prevalence of this disease in all age men & women and subsequent increase in the number of drugs available in the market. Also, the rising number of investments by the key players and research institute for developing new drugs that act effectively in treating type II & type III Gaucher disease. Additionally, increasing government initiatives for creating awareness about Gaucher disease will also boost the Gaucher Disease market in the coming years.

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On the basis of disease type, the global Gaucher Disease Treatment Market is categorized into type I, type II, and type III. The type I Gaucher disease is observed to be the dominating market segment in the market, owning to the increasing number of people suffering from type I disease across the globe. According National Gaucher Foundation, Type I Gaucher affects approximately 95 percent of the population making it one the most common type of disease.

Based on treatment type, the Gaucher disease treatment market is segmented as Enzyme Replacement Therapy (ERT), and Substrate Reduction Treatment (SBT). The ERT segment to hold dominating position in the market. This treatment market is primarily driven by its increased adoption across the globe for treating Gaucher disease, and higher awareness for using ERT.

By geography, the global Gaucher Disease Treatment Market is segmented into five major regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America, to hold the largest market share in the Gaucher disease treatment market owning to the growing number of people suffering from this disease, unmeet clinical needs, and rising awareness for the use of effective treatment options.

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The leading companies operating in the Gaucher Disease Treatment market include Sonafi (Genzyme Corporation), Pfizer Inc., Acetelion Pharmaceutical (J&J Ltd.), Shire Human Genetics Therapies, Inc., Erad Therapeutic Inc., and JCR Pharmaceuticals Co Ltd.

Halal Pharmaceuticals Market Trends, Demand, Share, Analysis To 2026

The global halal cosmetics market is anticipated to reach USD 22.53 billion by 2026 according to a new study published by Polaris Market Research. The market growth is primarily due to increase in Muslim populations and their purchasing power. This has created a surge in demand for halal cosmetics. Increasing demand has also compelled market players to engage in new product development.

Currently, consumers are exhibiting growing interest in halal cosmetics and personal care. This is primarily due to the increasing consumer awareness about the importance of personal hygiene and improving lifestyles as a result of increasing disposable income. Halal cosmetics being different from conventional cosmetics are gaining popularity, as these cosmetics do not contain alcohol, porcine-by products and their derivatives. Basically, they do not contain contents or ingredients that are against Islamic beliefs.

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Halal cosmetics are expected to be produced, packaged, stored, and distributed as per Islamic teachings. Moreover, these products are considered to be safe, clean, and high quality. The significant growth in Muslim populations across the globe is expected to offer immense opportunities to personal care and halal cosmetics industry. In addition, the rapidly accelerating economic power of Islamic countries is anticipated to largely influence them to spend additional money on beauty and personal products.

The growing issues over the environmental and health hazards are also responsible for such as significant impact on the cosmetic industry. Some of the health hazards such as distortion, breast cancer, and abnormalities pertaining to genital are usually blamed to occur as a result of excessive usage of cosmetics products comprising nano-particle ingredients. The increasing in number of such events has promoted consumer awareness about the substance of beauty products, thus, driving demands for halal personal care and cosmetic goods.

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Low level of awareness about the presence of halal cosmetic brands is acting as a challenge to the industry. As a consequence, the industry is not experiencing heavy demands as expected out of its potentials. Moreover, halal issues within the sector are considered quiet minor among consumers in comparison to food consumption. Thus, this requires manufacturers to improve their marketing strategies and production facilities. Furthermore, it becomes difficult to understand consumer perspective about halal cosmetic brands.

Asia Pacific is anticipated to dominate the global halal cosmetics market, owing to the presence of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan. These nations have significant population that follow Islamic beliefs.

The list of key companies that are operating in the market include Ivy Beauty Corporation Sdn Bhd, Mena Cosmetics, MMA Bio Lab Sdn Bhd, The Halal Cosmetics Company, Talent Cosmetic Co., Ltd., PHB Ethical Beauty, Saaf SkinCare, One Pure, Sampure Minerals, Amara Cosmetics, Wardah Cosmetics, Inika, Clara International, Prolab, and IBA Halal Care. These players are observed engaging in activities aimed at the development of new products.

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Tuesday, 4 May 2021

Smart fleet management Market Size, Key Company Profiles, Types, Applications and Forecast

According to a new research published by Polaris Market Research the worldwide smart fleet market is anticipated to reach around USD 629.5 billion by 2026. In 2017, the automotive segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global Smart Fleet market.

The increasing need to track and monitor fleets to increase operational efficiency, and reduce costs drives the Smart Fleet Market growth. Organizations are increasingly adopting smart fleet systems to increase efficiency, and manage high volume of fleets. The growing need for high speed networks further accelerates the adoption of smart fleet systems. Other factors driving the market growth include growing need to reduce operational costs, increase profitability, and avoid road congestions and accidents. New emerging markets, increasing need to monitor driver behavior, and growing safety concerns are factors expected to influence the market in the coming years.

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North America is expected to lead the global Smart Fleet market during the forecast period. Significant investment by organizations to improve the fleet operations coupled with favorable regulations regarding transportation safety drive the growth of smart fleet in this region. Technological advancement and introduction of advanced smart fleet systems by the market players has increased the acceptance of smart fleet systems in the region. Asia-Pacific Smart Fleet Market is expected to grow at the highest CAGR during the forecast period. This is due to economic growth in countries such as China and India, and increasing investments in increasing fleet efficiency. Expansion of global players into these countries to tap market potential boosts the market growth.

The various mode of transportation covered in the report include automotive, rolling stock, and marine. Use of smart fleet solutions in automotive sector offers remote monitoring, fuel management, remote diagnostics, and route optimization among other functionalities. Increasing safety concerns, and government regulations regarding vehicular emissions support the growth of this segment.

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The well-known companies profiled in the report include Cisco Systems, Inc., Robert Bosch GmbH, Denso Corporation, Sierra Wireless, Inc., Orbcomm, Inc., Siemens AG, Zonar Systems, Inc., IBM Corporation, Continental AG, OTTO Marine Limited, Harman International Industries, Inc., Globecomm Systems, Inc., and Globecomm Systems, Inc. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Linseed Oil Market SWOT Analysis, Growth Outlook, by Top Key Players 2026

The report “Linseed Oil Market Share, Size, Trends, Industry Analysis Report By Application Type (Processed Food, Paints & Varnishes, Cosmetics, Flooring, Pharmaceuticals and Others); By Regions, Segments & Forecast, 2019 – 2026” provides a complete analysis of present market trends and future insights.

The global linseed oil market is anticipated to reach 1,141.8 million by 2026 according to a new study published by Polaris Market Research.

A rising application for linseed oil in numerous industries including food, cosmetics, and pharmaceuticals as the striking industries, are expected to drive market demand. The product is growing at an average rate as compared to other edible oils in the market. Demand of a range of end-use products such as paints and coatings, varnishes, organic packaging, pharmaceuticals, flooring etc. has been increasing steadily.

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Organic Linseed oil that is unrefined and cold pressed is widely made available in the present market setup owing to its positive role in human nutrition. Thus, demand for organic food products has grown inimitably. The products of the food grade are significantly rich in fatty acids. Alpha linoleic acid present in the product is a type of fatty 3 acids that are beneficial for a healthy heart.

The presence of lignans in linseed oil gives it the much sought-after antioxidant properties that allay fears of the deadly disease like cancer. The product also behaves as a natural laxative by alleviating inflammation and body pain in severe situations. Some of the other categories of fatty acids present in the product and transmitting its properties include oleic acid which assists in bringing down cholesterol levels, linoleic acid that has anti-inflammatory properties.

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Raw product pierces the paint surface much better than synthetic ones which normally form a paint film. This characteristic tends for the product to increase its life span. The product’s paint has a unique characteristic of preserving the wood without peeling or flaking. The product also contains natural color forming pigments. Zinc Oxide, Iron Oxide, Cobalt and titanium oxide are normally stable to light and air and are one with the color forming pigments and work best with linseed oil. Hence with so many properties going for the product, it makes linseed oil one of the prime raw materials for the paint industry.

Asia Pacific region has been the biggest player in product’s industry with region’s growing food processing industry, paints and coatings, pharmaceuticals industry giving region a successful run. China, India, Malaysia, Japan, Indonesia are both largest consumers and biggest producers globally.

Europe and the U.S. have been leading players in linseed oil market but of late, with Asia Pacific in the fray, the global landscape is now dotted with many more major players. Asia Pacific now touted as a major industrial hub; the region has sprouted many manufacturers who have turned into significant exporters of the product.

The key industrial players in market include Barlean’s, Bioriginal Food and Science Corp, Natural Factors, Inc., Natrol LLC, Archer Daniels Midland (ADM) Company, Cargill, Krishi Oils Limited (KOL), Henry LaMotte Oils GmbH, Gustav Heess GmbH and granoVita.

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Laundry Detergent Market Size, Key Company Profiles, Types, Applications and Forecast

The global laundry detergent market is expected to reach US$ 223.8 billion by 2028 according to a new study by Polaris Market Research. The report “Laundry Detergent Market Share, Size, Trends, Industry Analysis Report, By Product (Powder, Liquid, Fabric Softeners, Detergent Tablets, Washing Pods, Natural/Eco-friendly Detergents), By Application (Household, Industrial/Institutional); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A growing trend among people to live healthier lifestyles along with increasing concerns related to hygienic living has led to a surge in demand for laundry detergent products. A major shift in consumer preference for green and scented laundry care products are creating lucrative opportunities for market players to come up with new innovative products.

Furthermore, rising per capita spending on products for household cleaning coupled with marketing campaigns run by market participants for the promotion of their products, fueling the development of the laundry detergent industry. Moreover, increasing penetration of washing machines in major developing countries further supporting the market growth.

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Segment Highlights

The powder laundry detergent segment contributed the major revenue share in the market on account of its several applications fueling demand in major economies from Latin America and the Asia Pacific
The outbreak of the COVID-19 pandemic has resulted in increased online spending by consumers to follow social distancing measures, which in turn, has fostered the sales of laundry care products
The rising demand for eco-friendly laundry care products worldwide encourages vendors to invest more in R&D activities to bring new organic and eco-friendly products at cost-effective rates
Leading vendors developing laundry care products with a unique fragrance, quality, and packaging to attract their potential consumers and gain a crucial edge over their competitors in the market

List of Key Players

Procter & Gamble
Unilever
Method Products, PBC
Lion Corporation
Kao Corporation
Henkel AG & Co. KGaA
Chruch & Dwight Co. Inc.
Reckitt Benckiser Group plc
Others

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Polaris Market Research has segmented the laundry detergent market report based on product, application, and region

Laundry Detergent, Product Outlook (Revenue – USD Billion, 2016 – 2028)

Powder
Liquid
Fabric Softeners
Detergent Tablets
Washing Pods
Natural/Eco-friendly Detergents

Laundry Detergent, By Application Outlook (Revenue – USD Billion, 2016 – 2028)

Household
Industrial

Laundry Detergents, Regional Outlook (Revenue – USD Billion, 2016 – 2028)

North America
- U.S.
- Canada
Europe
- France
- Germany
- UK
- Italy
- Spain
- Netherlands
- Austria
Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
Central & South America
- Mexico
- Brazil
- Argentina
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa

Video Analytics Market Size, Key Company Profiles, Types, Applications and Forecast

The global video analytics market size is expected to reach USD 10.87 billion by 2026 according to a new study by Polaris Market Research. Since past few years, internet of things is acting as a primary driving force in several industries. IoT applications are more valuable when incorporated with video analytics. Video surveillance devices and solutions are a major part of implementing security measures, and applying video analytics makes these surveillance systems more efficient. This technology helps reduce the workload on management and security staff, and helps capture the full value of security video by making the IP camera system more intelligent in its work.

Globally, video analytics is largely being used on several cities, in retail, automation, and other industrial and manufacturing sectors. As there is growing demand for industrial automation across various industrial sectors, the demand for this technology is rapidly increasing in retail, banking, financial services, manufacturing, airports, and other sectors. Additionally, increasing number of application of this technology such as motion detection, license plate detection, facial recognition, crowd counting, and traffic monitoring among others are also enhancing the adoption of this technology and thus, is expected to fuel the market growth during the forecast period. Furthermore, growing trend of BYOD, IOT, artificial intelligence, and machine learning, and growing usage of cloud-based video analytics solutions are also fueling the market growth. These and many such factors are driving the growth of the market.

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Though many factors are driving the market growth, there are several issues that have a negative impact on the market. Factors such as impact of poor lighting or bad weather conditions, high investment for installation, and privacy concerns are expected to hinder the market growth during the forecast period. Furthermore, development of smart cities, increasing inclination towards advanced technologies, increasing necessity of business intelligence and insights, demand for enhanced video surveillance, and growing need of edge-based analytics and recognizing & profiling applications are some of the factors providing significant growth opportunities during the forecast period.

The global market is dominated by North America as people here are largely investing in video surveillance systems to replace the conventional surveillance systems in order to enhance the safety and security around. Furthermore, increasing presence of dominating players in the North American region and growing investments by public and private organizations are also fueling the growth of the market in this region. Additionally, video surveillance has become a growing trend in European countries as well, based on increasing incidents of attacks in countries such as UK, France, and Germany. However, Asia-Pacific is expected to witness a fastest growth owing to growing expansion of established and emerging players in this region, increasing number of investment, strengthening the technological expertise, increasing introduction of smart cities projects and establishment of megacities in several parts of the region. Several companies in this region are receiving significant funding to improve their technologies and make them available at a reasonable price. For instance, in 2018 Gorilla Technology raised $15 million for real-time video analytics. Such investments are increasing presence of established players is driving the growth of the market in this region.

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The key players in the market include International Business Machines Corporation, Cisco Systems Inc., Axis Communications, Genetec Inc., Agent Video Intelligence Ltd, Honeywell International Inc., Aventura Technologies Inc., Qognify, Avigilon Corporation, Puretech Systems Inc., Intuvision, Inc., and Allgovision Technologies Pvt. Ltd among others.

Third Party Logistics Market SWOT Analysis, Growth Outlook, by Top Key Players 2026

The Report “The global third-party logistics market was valued at USD 795 billion in 2017 and is anticipated to grow at a CAGR of 5.3% during the forecast period.” The Report Third Party Logistics Market Share, Size, Trends, Industry Analysis Report By Service (Dedicated Contract Carriage, Domestic Transportation Management, International Transportation Management, Warehousing and Distribution, Others); By Mode of Transport (Roadways, Railways, Waterways, Airways); By End-User (Retail, Manufacturing, Healthcare, Others); By Regions, Segments & Forecast, 2018 – 2026. The retail segment dominated the global third party logistics market in 2017. In 2017, Asia-Pacific accounted for the majority share in the global third party logistics market.

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The rise in global trading with respect to e-commerce and retail has led to an increase in the third party logistics market. Advantages offered by 3PL, such as lesser time taken to complete the process, cost and reliability, has encouraged businesses to invest in it to increase overall efficiency and profitability. Outsourcing logistics operations enables manufacturers and retailers to focus on core competencies. Digitalization and integration of IT software and solutions coupled use of reverse logistics and multi-modal transportation is expected to offer growth opportunities during the forecast period. However, factors such as high initial investment to setup the warehouses, initiate staffing activities, investment in IT and monitoring services and actual delivery solutions might hinder market growth to a certain extent.

In 2017, Asia-Pacific accounted for the highest share in the global third party logistics market. The growing demand for e-commerce in the region, and rising need for efficient logistics operations across various industries would accelerate the demand for third party logistics services during the forecast period. The increasing economic growth, and increasing demand from countries such as China and India further increases the adoption of Third Party Logistics in the region to also accelerate the market growth during the forecast period. Expansion of global players into these countries to tap market potential boosts the market growth. The increasing disposable income, and improving living standards boost the growth of industries such as retail, automotive, and manufacturing, thereby supporting market growth in the region.

The major players operating in the third-party logistics market include FedEx Corporation, Union Pacific Corporation, Kuehne+Nagel Inc., BNSF Railway Company, AmeriCold Logistics, LLC, Landstar System, Inc., Ryder System, Inc., Burris Logistics, DB SCHENKER Logistics, CEVA Logistics.

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Segment Analysis

The global third-party logistics market is segmented on the basis of service, mode of transport, end-user, and geography.

Third Party Logistics Market Size and Forecast by Service, 2018-2026

Key Findings
Dedicated Contract Carriage
Domestic Transportation Management
International Transportation Management
Warehousing and Distribution
Others

Third Party Logistics Market Size and Forecast by Mode of Transportation, 2018-2026

Key Findings
Roadways
Railways
Waterways
Airways

Third Party Logistics Market Size and Forecast by End-User, 2018-2026

Key Findings
Retail
Manufacturing
Healthcare
Others

Third Party Logistics Market Size and Forecast by Region, 2018-2026

Key Findings
North America
US.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Brazil
Middle East & Africa

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Professional Service Automation Market Size, Key Company Profiles, Types, Applications and Forecast

According to a new research published by Polaris Market Research, the worldwide Professional Service Automation market is anticipated to reach around USD 16,407 million by 2026. In 2017, the on-premise segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global Professional Service Automation market.

The growing need to improve business efficiency, along with increasing requirement for scalable and flexible solutions increases the demand for professional service automation. The presence of stiff competition in the market drives organizations towards PSA to gain knowledge about probable future events and make data-driven business decisions to gain edge over competitors. The rising adoption of data analytics, and cloud computing boosts the adoption of Professional Service Automation. Other factors driving the market growth include growing need for enhanced mobility, technological advancements, and growing adoption of cloud computing. New emerging markets, and increasing adoption by small and medium sized businesses would provide growth opportunities for Professional Service Automation market in the coming years.

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In 2017, North America accounted for the highest share in the global professional service automation market. The primary factors driving the Professional Service Automation market growth in the region include established telecommunication industry and cloud infrastructure, rising automation of business processes, technological advancements, and high investment in R&D. The increasing penetration of mobile devices, and rising adoption of cloud computing boost the professional service automation market in North America. The increased cloud deployments, rising adoption of online service delivery, and growing adoption of connected devices and IoT further increase the demand of professional service automation in the region.

The major players operating in this market include Microsoft Corporation, Autotask Corporation, Planview, Inc., NetSuite OpenAir, Inc., Projector PSA, Deltek, Inc., Kimble Apps, SAP SE, Appirio, Inc., and Compuware Corporation. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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Parking Management Systems Market Top Trends, Business Opportunity, and Growth Strategy

The worldwide Parking Management Systems market is anticipated to reach around USD 9,786 million by 2026 according to a new research published by Polaris Market Research. In 2017, the hardware segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global market.

The significant increase in the demand for luxury passenger cars coupled with significant growth in sale of motor vehicles across the world boosts the growth of parking management systems market during the forecast period. Additionally, the increasing need to improve road safety, and streamline traffic flow in populated urban areas supports the market growth. The growing demand for passenger vehicles owing to increasing disposable income, and changing lifestyles, coupled with modernization of vehicles support the growth of the parking management systems market.

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The increasing development of autonomous and semi-autonomous vehicles, and rising penetration of mobile devices boost the adoption of parking management systems. However, high costs of implementing parking management systems would restrict the market growth during the forecast period. New emerging markets, and growing adoption of smart cities would provide growth opportunities for parking management systems market in the coming years.

In 2017, North America accounted for the highest share in the global parking management systems market. The growing need to streamline traffic flow coupled with introduction of stringent regulations regarding vehicular safety accelerate the adoption of parking management system in the region. The high living standards and disposable income further increases the demand of luxury automobiles in the region. The increasing development of smart cities in the region, and development of autonomous vehicles would provide growth opportunities during the forecast period.

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The major players of the parking management systems market include Skyline Parking AG, Siemens AG, T2 Systems, IBM Corporation, Swarco Corporation, Kapsch TrafficCom, Skidata, Passport Inc., SAP, and Indigo Park Services. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Car T Cell Therapy Market SWOT Analysis, Growth Outlook, by Top Key Players 2026

The report “CAR-T Cell Therapy Market Share, Size, Trends, Industry Analysis Report By Target Antigen (CD19/CD22, BCMA, Others); By Indication (Diffuse Large B-Cell Lymphoma (DLBCL), Acute Lymphoblastic Leukemia (ALL), Chronic Lymphocytic Leukemia (CLL), Multiple Myeloma (MM), Follicular Lymphoma (FL), Others); By Regions: Segment Forecast, 2020 – 2026” provides deep dive insights on the current market dynamics and gives a detailed analysis on future growth trends of this market. The global CAR-T Cell Therapy market size is expected to reach USD 8.92 billion by 2026 growing at a CAGR of 34.5% from 2020 to 2026 according to a new study published by Polaris Market Research

This market report focuses on CAR-T which is one of the most innovative therapy available in the market which uses the patients’ immune cells to fight cancer. The WBCs (white blood cells) are extracted – reengineered – injected again into the patient body to fight the malignant cells. This novel therapy has joined the bandwagon of the cancer cure treatments and it is expected to be one the sought-after therapies in the market. Majority of the companies have already started investing in them to gain a better market share in this industry.

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Some major key players in global CAR-T Cell Therapy Market includes Bluebird Bio (US), Celgene Corporation (US), Gilead Sciences, Inc. (US), Cellectis (France), Servier Laboratories (France), Pfizer Inc. (US), Mereck KGaA (Germany), Amgen Inc. (US), Intellia Therapeutics (US), Novartis International AG (Swiss), Caribou Biosciences, Inc. (US), Celyad (Belgium), Bellicum Pharmaceuticals, Inc. (US), Noile-Immune Biotech (Japan), Nanjing Legend Biotechnology Co., Ltd. (China), Johnson & Johnson (US), Sangamo Therapeutics, Inc. (US) among others.

According to the analysis by Polaris Market Research, the potential of the market is ~ $9 billion by 2026, with major focus on Diffuse Large B-Cell Lymphoma (DLBCL) indication in 2020-21. However, it is expected that the market would also start focusing on Multiple Myeloma (MM) indication and the market for the same is expected to grow at a compounded annual growth rate of more than 80% from 2020 to 2026.

It is estimated that U.S. is one of the major markets for CAR-T Cell Therapy due to continuous R&D happening in this region also backed by ongoing regulatory approvals of the new therapies. Along with the new therapy developments, companies are also focusing on establishing centers for cancer awareness and how this novel therapy would help in cancer treatment. This would help the market to grow in this region. The European region is also expected to closely follow by U.S. wherein European Medicine Agencies (EMA) have approved Kymriah and Yescarta which is expected to push the market for further growth in this region. However, the market for Asia Pacific is at its early stages wherein Ministry of Health, Labor and Welfare (MHLW) of Japan is the first regulatory authority to approve Kymriah in APAC.

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It can be seen that the business scenario of the market is dynamic and major companies are competing with each other to increase their market share in the major geographies of U.S. and Europe. For example, Novartis and Gilead came-up with 33 and 28 authorized centers respectively in U.S. Some of the major companies in this space such as Celgene are expected to file for FDA approvals for two more CAR-Ts lisocabtagene maraleucel in lymphoma and bb2121 (idecabtagene vicleucel) in myeloma.

Along with opening new centers and acquiring necessary government approvals, the companies are also focusing on partnerships, acquisitions and mergers. For instance, Celgene acquired Juno Therapeutics in November 2018 for approximately $9 billion in 2018 and further Bristol-Myers Squibb completed its acquisition of Celgene in November 2019.