Industry Research Report

Wednesday, 31 March 2021

Proteinase K Market In-Depth Qualitative Insights & Future Growth Analysis 2020-2027

The global proteinase K market size is predicted to reach US$ 107.5 Million by 2027 according to a new study by Polaris Market Research. The report “Proteinase K Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Area (Infectious diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune diseases, Neurology, and Others); By Form (Powder, and Liquid), By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global proteinase K demand is anticipated to grow owing to the increasing prevalence of COVID-19 cases, establishment of universities and government-funded laboratories, population-based studies, and innovations in bio-catalysts. Furthermore, the rising number of designated laboratories which perform western blotting, polymerase chain reaction, and in in-vitro research studies is expected to drive market demand for proteinase K.

The increasing market demand for proteinase K for pre-treatment of COVID-19 infections is expected to drive product demand. Furthermore, the increasing demand for point of care diagnostics and the growing utility of proteinase K in PoC is expected to drive market demand. In addition, the use of proteinase K for in situ hybridization is likely to complement the proteinase K industry growth.

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Segment Highlight

The infectious diseases segment accounted for the largest revenue share in 2019 owing to the sudden spike in viral infections associated with COVID-19. In addition, the increasing demand for proteinase K for treatment of several infections is likely to complement market growth.

Based on form, the proteinase K powdered segment is projected to constitute almost half of the market by the end of 2027. The segment holds the major market share due to its stability in the powered form and it is easy transport.

North America accounted for the largest revenue market share in 2019. This can be attributed to sudden spike in COVID-19 infections, presence of key manufacturers in the market, and the government-sponsored population-based studies boosting the consumption of proteinase K.

List of Key Players

Merck KGaA
BBI Solutions
Codexis, Inc.
SBS Genetech Ltd.
Hoffmann-La Roche Ltd
Amicogen
Amano Enzyme Inc.
Advanced Enzymes Technologies Ltd
Others

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Polaris Market Research has segmented the proteinase K market report on the basis of therapeutic area, by form, and geographic region.

Proteinase K, Therapeutic Area Outlook (Revenue – USD Million, 2016 – 2027)

Infectious diseases
Diabetes
Oncology
Cardiology
Nephrology
Autoimmune diseases
Neurology
Others

Proteinase K, Form Outlook (Revenue – USD Million, 2016 – 2027)

Powder
Liquid

Proteinase K Regional Outlook (Revenue – USD Million, 2016 – 2027)

North America (U.S., Canada)
Europe (France, Germany, UK, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
Latin America (Brazil, Mexico, Argentina)
MEA (Saudi Arabia, UAE, Israel, South Africa)

Access Control System Market In-Depth Qualitative Insights & Future Growth Analysis 2020-2027

The global access control system market size is expected to reach USD 15.62 billion by 2027 according to a new study by Polaris Market Research. The report “Access Control System Market Share, Size, Trends, Industry Analysis Report, By Type [Hardware (Card-based Readers, Biometric Readers, Multi-technology Readers, Electronic Locks, Controllers, Others), Software (Visitor Management System, Other), Services (Installation & Integration, Support & Maintenance); By End Use; By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The shift from key-based to keyless Access Control System has eliminated the stress associated with key-dependent access systems, such as keys misplacement, etc. It has, furthermore, enhanced the end-user experience, as these systems are comparatively more efficient, faster processing power, and multitude options for unlocking doors (RFID, biometric, keypad, and key, all in one access system to eliminate the dependence on one type of access system), and remote accessibility.

Owing to such features, Access Control System are now widely installed across several industries, and the market, globally, is furthermore expected to witness impelling growth during the forecast period as well. Moreover, the desired need for enhanced security, living standards, and spending capability of the population are furthermore expected to drive the market.

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Finger-vein recognition technology requires finger scanning with the use of infrared sensor and a chargeable device, which highlighting unique finger pattern in a database aiming to reduce dummy finger issues providing high security and has found mass growth in sectors like attendance tracking, border control, etc.

Owing to the increasing burglaries in residential areas has led to the high demand for enhanced access systems. Besides this, increasing adoption of smartphones is observed, globally. Henceforth, the lack of presence of competition in the remote access control system market, in response to the increasing demand for remote access security from the end-users, poses a high growth opportunity for vendors planning on investing in the same.

Use of artificial intelligence and smart applications like biometrics and card-based access control system add value to business ensuring high-level security with enormous indirect data collection pertaining to the employees. High-security doors mounted with intelligent PACs are being installed in areas like server room racks and cabinets, this is expected to drive market growth.

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Companies such as Honeywell International, Allegion, Avigilon, Bosch security, Johnson controls, 3M Cogent Inc., Accu-Time Systems Inc., Aware Inc., Bio-Key International Inc., Axis communications, Assa Abloy, United Technologies Corporation, Digital Persona Inc., IrisID Systems Inc., Morphotrak LLC, NEC Corporation, and Secugen Corporation are few key players operating in the Access Control System market.

Alkyl Polyglucoside Market Future Demands, Latest Innovation by Regional Forecast 2027

The global alkyl polyglucoside market size is expected to reach USD 1,844.4 million by 2027 according to a new study by Polaris Market Research. The report “Alkyl Polyglucoside Market Share, Size, Trends, Industry Analysis Report, By Product (Coco, Lauryl, Decyl, Capryl); By Functionality (Cleansing Agent, Emulsifying Agent, Wetting Agent, Degreasing Agent, Solubilizing Agent, Hydrotope, Foaming Agent); By Application; By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Alkyl polyglucosides are non-ionic surfactants that are produced from vegetable oils. They are bio-degradable and used in a variety of applications such as cosmetics and industrial. They are typically derived from glucose and fatty alcohols. Alkyl polyglucosides are largely used to enhance foam formation in detergents. Consumer awareness is growing, wherein they need to know the ingredients present in the products, as a result, in reference to surfactants, this is an opportunity for the formulators and manufacturers to make a compelling case for themselves and the products. The sulfate-free shampoo product segment is well-established and populated by companies such as L’Oreal which evidently shows that the demand for green products is increasing.

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Key companies involved in the manufacturing of alkyl polyglucosides are largely focusing on expanding their production capacities to cater to the growing demand across the globe. In addition, alkyl polyglucosides have replaced petroleum-based surfactants in several end-use applications, thus creating gaps in the supply and demand equation. Participants involved in the production of alkyl polyglucosides are focusing on setting up production plants at strategic locations to enhance their sales output. For instance, BASF is expanded their alkyl polyglucoside production capacity by initiating two production expansion projects in Jinshan (China) and Cincinnati (Ohio).

Market participants include Croda International PLC, BASF SE, Huntsman Corporation, Dow Chemical Company, Akzo Nobel NV, SEPPIC S.A., LG Household & Health Care Ltd., Galaxy Surfactants, Pilot Chemical Company, and Shanghai Fine Chemical Co Ltd. In September 2019, BASF showcased new data and proof of concept for the alkyl polyglucosides as a natural thickening agent. These formulations would be used in the company’s body wash and shampoo segments.

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Polaris Market Research has segmented the alkyl polyglucoside market report on the basis of product, functionality, application, and region

Alkyl Polyglucoside, Product Outlook (Revenue – USD Million, 2016 – 2027)

Coco
Lauryl
Decyl
Capryl
Others

Alkyl Polyglucoside, Functionality Outlook (Revenue – USD Million, 2016 – 2027)

Cleansing Agent
Emulsifying Agent
Wetting Agent
Degreasing Agent
Solubilizing Agent
Hydrotope
Foaming Agent
Others

Alkyl Polyglucoside, Application Outlook (Revenue – USD Million, 2016 – 2027)

Homecare
Surface Cleaners
Dishwashing Detergent
Laundry Detergents
Others
Personal Care
Bath Products
Cleansers & Wipes
Oral Care
Others
Industrial & Institutional Cleaners
Agricultural Chemicals
Oil Fields
Admixtures for Cement, Concrete & Plaster
Others

Tuesday, 30 March 2021

Pectin Market Size By Top Key Players and Future Trend

The global pectin market is estimated to reach USD 1.87 billion by 2026 and is anticipated to grow at a CAGR of 6.4 % from 2018 to 2026. Pectin market is projected to witness significant growth over the forecast period. Increasing health consciousness among consumers and various health benefits of pectin products is expected to drive the global market over the forecast period.

Pectin are plant-derived compounds, a structural heteropoly saccharide that is contained in primary cell walls of the terrestrial plants. It is mainly extracted from citrus fruits, apples, apricots, cherries, oranges, and carrots. Commercially, it is available in the form of white to light brown powder. The industry is characterized by companies characterized by medium level of integration in the value chain. Packaging and shipping play an important role in integrating the value chain. This helps the companies to incorporate their businesses in a cost-effective way.

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Suppliers include companies which are involved in the production & distribution of processes raw materials such as apple, citrus, and others. The rising shortage of raw materials and increased import for Brazil and European countries is resulting in high bargaining power to the suppliers. In addition, low threat of backward integration from manufacturers, except some of the major and giant market players is also resulting in high bargaining power of suppliers.

The pectin market witnesses an external threat of substitution from natural gum and Citri-fi. Citri-fi is natural functional fibers, which are derived from citrus fruits. They offer hydrocolloidal properties, which is significant for high water holding capabilities. There are also some synthetic alternatives such as polyurethane, but these are usually not considered suitable for skin contact applications. However, the various advantages of pectin over these products are expected to lower the threat.

Pectin extracted from this raw material are used for high cholesterol high blood pressure, & blood sugar, joint pain, weight loss, prevent colon & prostate cancer, high triglycerides, gastroesophageal reflux disease (GERD) and diabetes. In addition, some people also use pectin to prevent poisoning caused by strontium, and other heavy metals.

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Despite the shortage in the supply of raw material, some of the major players are also trying to increase their production capacity to meet the demand. For instance, Cargill acquired FMC’s plant to boost their pectin production capacity. The market is highly fragmented and competitive. In addition, it also experiences the presence of small-scale as well as giant players. The key and major companies are investing in R&D activities and frequently involved in merger and acquisition to increase their market share and product portfolio. Some of the companies that have a significant influence in the industry include DuPont Nutrition & Health, FMC Corporation, CPKelco, Herbstreith & Fox, Devson Impex Private Limited, Cargill Incorporated, B&V srl. and Yantai Andre Pectin Co. Ltd.

Growth in food & beverage industries, in emerging economies, is expected to drive the Asia Pacific market. The market is projected to grow rapidly in the Asia Pacific region, owing to the changing lifestyle of consumers in emerging economies including, China and India. The rising health consciousness among consumers and the presence of major players in North America is projected to positively drive the growth of the market over the forecast period.

Sleep Apnea Devices Market Size By Top Key Players and Future Trend

The global silicone elastomers market size is anticipated to reach USD 9.34 billion by 2026 growing at a CAGR of 5.1% from 2018 to 2026 according to a new report published by Polaris Market Research. The report ‘Silicone Elastomer Market Share, Size, Trends & Industry Analysis Report By Product Type (Liquid Silicone Rubber, High Temperature Vulcanized/High Consistency Rubber, Room Temperature Vulcanized), By Process, By End-Use, By Regions]: Segment Forecast, 2018 – 2026’ provides insights on the current market scenario and the future prospects.

Silicone elastomers has been gaining significant importance from a wide range of end-use industries, especially from the construction industry. Evolution of advance liquid silicone rubber (LSR) technology has experienced exponential growth mainly in the high-tech application fields. Silicone elastomers are also used widely in the medical appliances sector and its utility has been increasing every year with increasing trend towards self-treatment of chronic ailments including blood conditions, autoimmune diseases, and hormone diseases.

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In the other areas such as portable water and food processing, severely strict environmental as well as safety and health considered as catalyst to move to LSR. In the automotive industry, the rising trends of autonomous cars means vehicles are equipped with more and more electronic features, and that promotes the demand for integrated and super clean liquid silicone elastomer and LSR components. The growing demand for these products are related to demographics, urbanization and social changes as the growing affluent population has a higher buying power for electronics and other categories of lifestyle consumables.

Silicone elastomers are used widely in the present original equipment manufacturing industry owing to its extreme versality that makes it compatible to a wide range of end-use conditions. As silicone are liquid raw materials, it offers superior advantages in processing, which makes it the premier option for materials to be used for technical components in high volumes.

HVSR are also used in a wide variety of industries including the electronics, electrical and automotive, transmission along with the distribution industry, construction industry, process and mechanical engineering, and in food, health care and the medical sector.

The room temperature vulcanized rubbers also have an extensive portfolio. These specific product categories provide an advantage for the cured rubbers to be manufactured with extreme high level of versality and extremely specified properties. RTV -2 and RTV-1 rubbers offers versatile and unique solution portfolios for individual manufacturing issues in a variety of industrial sectors including optoelectronics, electronics, moldmaking, household appliance, industrial process engineering, mechanical engineering, solar/photovoltaics, and even health care applications. The RTV-1 rubber grades are also absolutely ideal for all types of bonding, sealing and coating applications. These silicone-based elastomers owing to their extremely characteristics find applications in these wide manufacturing sectors.

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The Asia Pacific industry is the leading silicone rubber producing regional market and accounted for approximately forty percent of the global market in 2017. China remained the fastest growing country for silicone elastomers in the region in 2017. These gains in the region were and are also anticipated to be driven by the continuous growth of China’s silicone and rubber industry along with India’s emerging silicone manufacturing industry. This is also owing to the favorable economic outlook for the higher income nations in the region.

The silicone-based elastomer manufacturing industry is a competitive market space with several multinational and diversified product manufacturing companies that play an active role. Some of the leading industry participants include Momentive Performance Materials Inc., Wacker Chemie AG, Dow Corning Corporation, Shin-Etsu Chemical Co., Ltd., Ltd., KCC Corporation, Mesgo S.P.A., China National Bluestar (Group) Co., Reiss Manufacturing Inc., Zhejiang Xinan Chemical Industrial Group Co., Ltd., Mesgo S.P.A., and Specialty Silicone Products Inc.

Silicone Elastomer Market Size By Top Key Players and Future Trend

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Plastic Packaging Market Size By Top Key Players and Future Trend

The Plastic Packaging market size is anticipated to reach USD 416.2 billion by 2026. In 2017, the bottles segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period. A significant increase in disposable income, changing lifestyles, and improving living standards have increased the demand for food products, consumer electronics, and retail products among others, which supports the market growth.

Initiatives by market players to offer innovative products in the market, communicate brand values, and create brand differentiation also drive the market growth. Other driving factors include growing middle class population, and increasing penetration of e-commerce platforms. The significant growth in e-commerce and rising consumer demand for consumer goods has resulted in growth in packaging segments such as protective packaging, flexible pouches and innovative bottles. Increasing demand from developing nations, and technological advancements are factors expected to provide numerous growth opportunities to the market players during the forecast period.

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Large brands are focusing on personalized and customized plastic packaging to create an impact on consumers and enhance brand awareness. Packaging enables companies to differentiate brands and offer personalization. Packaging can provide links to information about the product, both enhancing the product and providing details about its provenance. Plastic packaging enables enhancing of brand power for global brands and offers an effective method to compete with private label and emerging local players. Growth in digitalization offers consumers access to vast and detailed information. Communicating brand values effectively and enabling product differentiation is a major factor driving the growth of the plastic packaging industry.

Asia-Pacific generated the highest revenue in the plastic packaging market in 2018, and is expected to lead the global market throughout the forecast period. The increasing population in the region coupled with growing disposable income has increased the sale of food and beverages, apparel, and consumer goods, driving the market growth. Consumers in the region are increasingly opting for packaging that is easy to use and convenient to transport. Smaller, lighter and easily disposable packaging is being used to make consumption-on-the-go easier. The growing healthcare, retail, and pharmaceutical industries in countries such as China, Japan, and India support the market growth.

The well-known companies profiled in the report include Mondi Group, Berry Plastics Corporation, Sonoco Products Company, Amcor Limited, DS Smith plc, Bemis Company, Inc., NatureWorks LLC, Consolidated Container Company, Reynolds Group Holdings Limited, and Alpla Werke Alwin Lehner GmbH & Co. KG. These companies launch new products and collaborate with other players in the global plastic packaging industry to innovate and launch new products to meet the increasing needs and requirements of consumers.

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Polaris Market Research has segmented the global plastic packaging market on the basis of type, product, end user and region:

Plastic Packaging Type Outlook (Revenue, USD Billion, 2015 – 2026)

Rigid Plastic Packaging
Flexible Plastic Packaging

Plastic Packaging Product Outlook (Revenue, USD Billion, 2015 – 2026)

Bags
Cans
Bottles
Pouches
Others

Plastic Packaging End User Outlook (Revenue, USD Billion, 2015 – 2026)

Food and Beverage
Healthcare
Pharmaceutical
Retail
Personal and Home Care
Others

Plastic Packaging Regional Outlook (Revenue, USD Billion, 2015 – 2026)

North America (U.S., Canada)
Europe (Germany, UK, France, Italy, Spain, Belgium, Russia, Netherlands)
Asia Pacific (China, India, Japan, Korea, Singapore, Malaysia, Indonesia, Thailand, Philippines)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (UAE, Saudi Arabia, South Africa)

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Gold Nanoparticles Market Size By Top Key Players and Future Trend

The global gold nanoparticles market is anticipated to reach USD 1.52 billion by 2026 and is anticipated to grow at a CAGR of 10.2 % from 2018 to 2026. Gold nanoparticles market is anticipated to witness significant growth over the forecast period. Growing demand for nano technological medical products, inherent advantages of gold nanoparticles, as well as growing application portfolio in medical field are expected to boost market growth. The global growth in the electronics industry are also expected to contribute to the overall market growth.

Inefficient tumor therapy, less developed drug targeting methods, drug resistant tumors, are a major cause for rising number of deaths due to cancer ailments. Gold nanoparticle enables efficient drug delivery, enhanced bio-imaging as well as aid in the selectivity of a wide range of drugs. The growing number of cancer ailments combined with the effect of gold nanoparticles is expected to benefit the market demand.

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Gold nanoparticles exhibit several advantages over their other conventional counterparts. Such advantages include high surface area, unique physical, chemical as well as optical properties, high surface area, biocompatibility, as well as conjugation with other molecules enable their widespread applicability. Such trends are expected to propel market growth.

Gold nanoparticles are used as conductors in electronic applications such as electronic chips to conductors. The optimization and miniaturization are the major factors driving the electronics industry. Gold nanoparticles aid in these efforts of the electronics industry. The growth of the electronics industry in regions such as Asia Pacific are expected to aid the global market demand growth.

The food & beverage industry utilize the colorimetric sensors manufactured by utilizing these metal nanoparticles. These sensors aid to qualify whether the food is fit for consumption or not. Rising awareness regarding the quality of food, concerns over food quality scams, and prevalent rules and regulations have forced food manufactures to manufacture high quality food. Such trends are expected to drive the gold nanoparticles market demand.

Toxicity of gold nanoparticles is expected to restrain market growth. Prescribed regulations aimed at containing this toxicity have to be abided by manufacturers. Industry participants have developed novel manufacturing methods which eliminate the usage of such toxic substances in their manufacturing processes.

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Gold nanoparticles are used in memory devices. These products are also used to manufacture insulators which display excellent stability and also contribute to the prevention of charge accumulation. Due to their excellent catalytic as well as conductive properties, electronics industry is widely utilizing this material.

Research and Development activities are influencing the market growth. Researchers have developed products which can attract and destroy the viruses in the body. These products mimic the human body cells. These products can also be used to cure antimicrobial diseases. Different materials have also been developed to be used to treat ageing skin diseases. The growing medical industry is benefitting the market demand.

The prevalent medical industry in North America, as well as strong presence of industry participants is contributing to the regional demand. Strong demand from countries such as China, India and Japan is propelling the Asia Pacific market growth. Companies are focusing on developing regions to gain market share.

Platinum Based Cancer Drugs Market Analysis, Competitive Landscape and Regional Forecast

The global platinum based Cancer drugs market size is expected to reach USD 1,814.1 Million by 2026 according to a new study by Polaris Market Research. The report “Global Platinum Based Cancer Drugs Market Share, Size, Trends, Industry Analysis Report By Drug Type (Cisplatin, Oxaliplatin, Carboplatin, Other), Application (Colorectal, Ovarian, Lung, & Other Cancer); By Regions, Segments & Forecast, 2019 – 2026”gives a detailed insight into current market dynamics and provides analysis on future market growth.

Drugs based on platinum have become a major component of cancer therapy; about half of all patients undergoing chemotherapy receive a platinum drug. The widespread use of platinum agents in cancer treatment started with Barnett Rosenberg’s discovery of cisplatin’s antineoplastic activity in the 1960s.

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According to the National Cancer Institute, the instances of new cases per year is expected to rise to 23.6 million by 2030. Nevertheless, the major limitations of this industry worldwide are the drug-related side effects and resistance growth. Recent developments in platinum based cancer drugs include the development of analog platinum drugs such as platinum carrier molecule complexes to boost targeted concentration of drugs in cancer tumor. This increasing number of cancer instances is expected to drive the growth of the global platinum cancer drug market during the forecast period.

The platinum based cancer drugs market can be categorized in terms of product type as oxaliplatin, cisplatin, carboplatin, and others. Cisplatin is the most commonly used for treating certain malignancies. It is particularly effective in testicular cancer and is intravenously administered. Carboplatin, a derivative of cisplatin, is used to treat multiple cancers like ovaries, lungs, brains, and so on. Cisplatin’s segment maintained the largest market share in 2018 and is expected to remain dominant over the forecast period. Based on application, the global market is divided into ovarian, lung, testicular, colorectal, and other cancer. The lung cancer segment dominated the market in 2018 due to the high incidence among the world’s population.

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Due to enhanced disease prevalence, enhanced awareness, increased per capita income, and enhanced health care infrastructure, the Asia Pacific market is anticipated to develop at the largest CAGR. North America dominated the global market in 2018 due to the high incidence of cancer in the region, developments in these drugs and recent FDA approvals. United States is the world’s largest drug market. This has led to the dominance of North America in the global platinum cancer drug market. The U.S. pharmaceutical industry is the largest domestic market in the world. It is the world’s biggest continental pharmaceutical market together with Canada and Mexico. More than 45 percent of the worldwide pharmaceutical industry is held by the United States alone. This share was valued at approximately $446 Million in 2016. Many of the top worldwide firms are from the U.S. In 2016, six out of the top 10 firms were based on sheer pharmaceutical income from the United States.

Major players in the platinum cancer drug market include Sanofi, Pfizer, Inc., Mylan N.V., Ask-Pharma, Sun Pharmaceutical Industries Ltd., Accord Healthcare, Novartis AG, Teva Pharmaceutical Industries Ltd., Guizhou YiBai Pharmaceutical Co., Ltd., SK Chemicals, Qilu Pharmaceutical Co., Ltd., Dr. Reddy’s Laboratories Ltd., Debiopharm Group, and Jiangsu Hengrui Pharmaceutical Co., Ltd

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Friday, 26 March 2021

Healthcare Analytics Market Global Industry Analysis and Research Report 2020

The global healthcare analytics market size is expected to reach USD 48.50 billion by 2028 according to a new study by Polaris Market Research. The report “Healthcare Analytics Market Share, Size, Trends, Industry Analysis Report, By Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Clinical, Financial, Operational & Administrative), By End-Use; By Delivery Mode; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In the past few years, there has been a radical shift in data collection, storage, maintenance, management, encryption, and visualization. A newly designed ecosystem not only has the potential of disease prevention but also enhances the accuracy of diagnosis, providing safe and effective treatments. It also encourages a personalized patient-centric approach instead of ‘one size fits all’. Healthcare analytics is the broader concept used differently by varied stakeholders. For healthcare practitioners it helps in monitoring health, personalizing treatment, remote consulting, and predictive analytics for informed decision making.

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The government can use such unified data to identify patterns and trends at the national and regional level in population-based studies. It enables the government to frame health policies, disease outbreak management, and demographic-specific disease programs. Labs and hospitals can structure data to map patient’s health journey for better healthcare outcomes. Pharma companies have different departments such as research and development and sales can use advanced analytics techniques, AI, and machine learning for drug discoveries, brand effectiveness, and market assessments.

Market participants such IBM Corp., MedeAnalytics, Inc., Oracle Corp., OptumHealth, Inc., Verisk Analytics, Inc., MEDai, Inc., McKesson Corp., Truven Health Analytics, Allscripts Healthcare, Cerner Corporation, and SAS Institute, Inc. are some of the key players operating in the global market.

Many big players in the market are diving into the healthcare analytics industry to answer unmet medical needs. For instance, in January 2020, Microsoft launched the “AI for Health” program to improve the health of people around the globe. This would be a USD 40 million five-year programs to empower researchers and was developed in collaboration with the help of leading health experts.

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This is the 5th AI program for researchers, non-profit organizations with innovative technologies to unlock solutions to the biggest challenges that societies are currently facing. Such an AI initiative is expected to focus on drug discoveries, global health insights, and reducing health equities for the under-served population.

Moreover, recently in December 2020, the U.S.-based insurer, Highmark Health, and Google cloud announced the 6-year strategic partnership to use Google’s cloud and analytics platform to power the company’s digital health initiatives. The company has an integrated delivery network of 13 hospitals, and around 2,500 physician and ambulatory care centers.