Panacea Biotec secures additional $5.2 million polio vaccine order from UNICEF
By Aman Shukla Published on April 23, 2025, 15:34 IST
Panacea Biotec has announced an additional order from UNICEF for the supply of its bivalent oral polio vaccine (bOPV). This follows a previous communication dated December 24, 2024, regarding an initial award for 115 million doses valued at approximately USD 14.95 million (around Rs.127 crore) to be supplied during the calendar year 2025.
The company has now secured an additional contract from UNICEF. This new award involves the supply of 40 million doses (equivalent to 2 million vials) of bOPV, valued at around USD 5.20 million (approximately Rs.44 crore). The supply is scheduled for execution in the third quarter of calendar year 2025.
The order has been placed under the existing long-term arrangement between Panacea Biotec and UNICEF, which will be updated accordingly. UNICEF is expected to publish the details of the award, including the supplier's name, vaccine details, duration, total value, and awarded prices on its website.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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Artificial Intelligence in Medicine Market to Reach USD 45 Billion by 2034
Artificial Intelligence in Medicine Market Overview 2025-2034 Luton, Bedfordshire, United Kingdom, June 12, 2025 (GLOBE NEWSWIRE) -- The global Artificial Intelligence (AI) in Medicine Market is undergoing a remarkable transformation, spurred by rapid technological advancements and the growing need for efficient, accurate healthcare delivery. As of 2024, the market is valued at approximately USD 16.5 billion, and it is projected to reach nearly USD 45 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 12.5%. This expansion reflects the increasing integration of AI technologies into various healthcare applications, from diagnostics to treatment and patient management. Download PDF Brochure: AI is revolutionizing the healthcare landscape by enabling predictive analytics, enhancing decision-making, and reducing human error in clinical processes. Applications such as virtual nursing assistants, AI-based imaging diagnostics, and drug discovery platforms are at the forefront of this evolution. However, despite its promising trajectory, the sector must overcome several challenges, including high implementation costs, data privacy concerns, and regulatory complexities. Market Segmentation and Key Applications The AI in medicine market is segmented across multiple dimensions, including application, product type, end-user, technology, deployment model, and region. Application-wise, the market covers: Clinical Data & Workflow Management: This segment leverages AI to enhance hospital operations by organizing patient records, streamlining clinical workflows, and reducing administrative burden. The increasing complexity and volume of patient data are driving investments in AI-powered workflow management systems. Medical Imaging & Diagnostics: One of the largest and fastest-growing segments, AI tools in imaging help radiologists detect abnormalities with higher accuracy and speed. With deep learning algorithms improving diagnostic precision, this segment currently represents 27% of the market, equivalent to approximately USD 4.4 billion. Virtual Nursing Assistants: These AI-enabled systems offer round-the-clock patient monitoring, medication reminders, and chronic disease management solutions, making them vital tools in reducing hospital readmissions and improving patient engagement. Drug Discovery & Development: AI significantly shortens drug development timelines by analyzing large datasets to identify potential compounds and predict clinical trial outcomes, an essential capability in a highly competitive pharmaceutical sector. Personalized Medicine and Predictive Analytics are also emerging as high-potential application areas, offering tailored treatment plans and proactive health management tools based on individual patient data. Technologies Driving Innovation The technological foundation of AI in medicine lies in advanced capabilities such as Machine Learning (ML) and Natural Language Processing (NLP). Machine Learning (ML) is the engine behind many applications, offering predictive power through data analysis. It enables tools for early disease detection, personalized treatment, and healthcare automation. Natural Language Processing (NLP) helps extract insights from unstructured clinical data, enhancing the accuracy of clinical documentation and patient communication. Machine Vision is another essential technology, particularly in medical imaging, allowing high-resolution image interpretation for diagnostics. Robotics is gaining traction in AI-assisted surgeries, providing greater precision and reducing recovery times for patients. Product Types and Deployment Models AI in medicine is categorized by product type into software, hardware, and services. Software solutions dominate the market, encompassing tools for diagnostics, data management, imaging, and patient care. These products are widely adopted due to their flexibility, scalability, and integration with existing systems. Services, including consulting, implementation, and technical support, are crucial for helping institutions transition smoothly into AI-powered systems. Hardware solutions such as AI-embedded medical devices and servers are also gaining popularity, especially in large hospitals and diagnostic labs. Deployment is mainly split between on-premise and cloud-based models. While traditional on-premise systems still have a foothold, cloud-based solutions are rapidly gaining market share due to lower costs, ease of implementation, and enhanced collaboration capabilities. Browse full Report - Key End Users and Their Impact The major end users in the AI in medicine market include: Hospitals, which account for around 40% of the total market share. These institutions are leading adopters of AI, utilizing it to optimize clinical decision-making, reduce operational costs, and enhance patient outcomes. Pharmaceutical Companies are employing AI to boost research and development efficiency, improve market intelligence, and shorten drug discovery cycles. Diagnostic Laboratories benefit from AI through faster and more accurate test results, contributing to better disease management. Other significant users include research organizations and healthcare IT firms, both of which play critical roles in developing and deploying new AI technologies. Market Segmentation By Application - Clinical Data & Workflow Management - Medical Imaging & Diagnostics - Virtual Nursing Assistants - Drug Discovery & Development - Personalized Medicine - Predictive Analytics - Remote Monitoring - Robotic Surgery By End-User - Hospitals - Pharmaceutical Companies - Diagnostic Laboratories - Research Organizations - Healthcare IT Companies By Technology - Natural Language Processing (NLP) - Machine Learning (ML) - Machine Vision - Robotics By Product Type - Hardware - Software - Services By Deployment Model - On-Premise - Cloud-Based By Region - North America - Europe - Asia Pacific - Latin America - Middle East & Africa Buy Now: Regional Insights and Opportunities Geographically, North America leads the global market, contributing around 44% of revenue in 2024. This leadership stems from the presence of advanced healthcare infrastructure, high adoption rates of new technologies, and robust R&D initiatives supported by government funding. Europe holds a 30% market share, driven by proactive regulatory policies and increasing adoption of digital health tools. Countries like Germany, the UK, and France are at the forefront of AI innovation in healthcare. The Asia-Pacific region, currently at 20% market share, is expected to witness the fastest growth with a CAGR of 32%. Rapid urbanization, population growth, and rising investments in healthcare technology—especially in China and India—are propelling this expansion. Latin America and the Middle East & Africa (MEA) are emerging markets, where mobile health applications and increasing healthcare access are creating favorable conditions for AI adoption, despite ongoing infrastructure and regulatory challenges. Market Drivers and Challenges Several key factors are fueling the growth of the AI in medicine market: Demand for Efficient Healthcare: The growing burden of chronic diseases and increasing patient loads are compelling healthcare providers to seek AI-driven efficiencies. Rising Volume of Healthcare Data: The digitization of medical records and use of electronic health records (EHRs) have created a vast pool of data, ideal for AI analysis. Advancements in AI Capabilities: Improvements in AI algorithms and computing power are allowing for more sophisticated medical applications. However, challenges persist: Data Privacy and Security: The use of sensitive patient information in AI systems raises significant privacy concerns, necessitating strict compliance with data protection regulations. High Implementation Costs: Small and mid-sized organizations may find it difficult to invest in AI infrastructure without clear short-term returns. Regulatory Complexity: The lack of standard global regulations for AI in healthcare can hinder innovation and delay product approvals. Emerging Trends and Future Outlook Several trends are expected to shape the future of AI in medicine: Personalized Medicine is gaining traction, with AI being used to tailor treatments based on a patient's genetic, lifestyle, and environmental factors. Telemedicine Integration: AI tools are increasingly being embedded in virtual care platforms to enhance diagnosis, monitoring, and patient interaction. Collaborative Ecosystems: Partnerships between tech giants and healthcare institutions are accelerating innovation and expanding the market. New Business Models: Subscription-based AI platforms and AI-as-a-Service (AIaaS) offerings are emerging, making advanced solutions accessible to a broader range of providers. Key Competitors IBM Watson Health Siemens Healthineers Philips Healthcare Google Health GE Healthcare Microsoft Healthcare Cerner Corporation Allscripts Healthcare Solutions Medtronic Oracle Health Sciences NVIDIA OpenAI Zebra Medical Vision Tempus PathAI Recent Market Developments 1. IBM Watson Health - Month/Year: March 2023 - Type of Development: Strategic Partnership - Detailed Analysis: In March 2023, IBM Watson Health announced a strategic partnership with Merck to leverage AI in drug development. This alliance aims to improve the efficiency of clinical trials by integrating AI-driven insights into the research workflow. The significance of this development lies in the potential to expedite the drug discovery process, reducing time-to-market and costs associated with traditional methods. This partnership exemplifies a growing trend of collaborative ecosystems involving technology firms and pharmaceutical companies. It is likely to shift the competitive landscape as more companies seek to incorporate AI for similar purposes, enhancing the speed and efficacy of bringing innovative treatments to patients. 2. Siemens Healthineers - Month/Year: July 2023 - Type of Development: Product Launch - Detailed Analysis: Siemens Healthineers unveiled their latest AI-based imaging platform in July 2023, designed to enhance diagnostic accuracy and workflow efficiency in radiology. The introduction of this advanced software epitomizes a significant technological advancement in the medical imaging sector. With features like automated anomaly detection and real-time decision support, this platform positions Siemens at the forefront of AI integration in clinical practice. The development is likely to heighten competition among imaging technology providers and set new standards for diagnostic tools, as healthcare providers increasingly recognize the advantages of incorporating AI for improved patient outcomes. 3. Google Health - Month/Year: August 2023 - Type of Development: Regulatory Approval - Detailed Analysis: In August 2023, Google Health received FDA approval for its AI algorithms that assist in identifying retinal diseases from eye scans. This regulatory milestone marks a crucial turning point in the acceptance of AI technologies within the healthcare sector. The significance of this development extends beyond Google's advancements; it reflects a broader movement towards regulatory bodies embracing AI solutions for enhancing diagnostic accuracy. This approval legitimizes the application of AI in critical healthcare areas and could lead to increased investments in AI technology among key players, promoting a competitive edge in diagnostics for companies that can secure similar approvals. 4. Philips Healthcare - Month/Year: September 2023 - Type of Development: Acquisition - Detailed Analysis: In September 2023, Philips Healthcare acquired an AI analytics startup specializing in predictive analytics for patient care. This acquisition is significant as it strengthens Philips' portfolio in the burgeoning field of predictive healthcare technologies. By incorporating advanced AI analytics capabilities, Philips positions itself to offer more comprehensive solutions that enhance patient management and outcomes. This move is indicative of a broader trend where established players are seeking to integrate AI capabilities through acquisitions, thereby reshaping competitive dynamics within the healthcare technology landscape. It further signals to other companies the urgency to innovate and adopt AI to remain competitive. 5. Microsoft Healthcare - Month/Year: October 2023 - Type of Development: Technological Advancement - Detailed Analysis: In October 2023, Microsoft Healthcare launched a new generative AI model aimed at improving patient engagement through personalized communication. This technological advancement utilizes large language models to tailor interactions with patients, providing them with timely and relevant information. The significance of this development cannot be overstated, as it represents a shift toward using AI for enhancing patient experience and adherence to treatment regimes. This innovation is likely to set a new trend in patient-centric care models, compelling competitors to invest in similar technologies. Furthermore, the emphasis on personalization in healthcare could catalyze a competitive race to enhance patient engagement, transforming traditional approaches to communication in the sector. 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Scooter Market Report 2025 with Long-term Forecast to 2034: Smart Connected Scooters Transform Commuter Experience with Advanced Features
By 2034, the global scooter market is set to reach USD 143.1 billion, growing at a CAGR of 8.1% from 2025's USD 70.8 billion. Rising demand for electric scooters, driven by environmental concerns and policy support, is key. Asia-Pacific leads, with e-commerce growth and smart connectivity boosting adoption globally. Scooter Market Dublin, June 12, 2025 (GLOBE NEWSWIRE) -- The "Scooter Market 2025-2034" has been added to offering. The global scooter market, valued at USD 70.8 billion in 2025, is projected to grow to USD 143.1 billion by 2034, at a CAGR of 8.1% This dynamic segment in the personal mobility industry is gaining traction due to its cost-effective and energy-efficient solutions for urban environments. The market is flourishing with both traditional internal combustion engine scooters and a rapidly growing array of electric scooters (e-scooters), responding to climate concerns and legislative efforts for sustainable transport. In the Asia-Pacific region, the sector thrives on urban expansion, rising incomes, and limited public transit options. Western markets see a surge in electric kick scooters and shared mobility models, appealing to eco-conscious millennials and Gen Z. Evolving consumer preferences are shaped by features like connected dashboards and app-based controls. With fluctuating fuel prices and sustainable policies, scooters offer affordability, agility, and reduced emissions for various uses. In 2024, market growth accelerated, emphasizing electric models and favorable government initiatives on emissions and congestion. Countries enacted subsidies and infrastructure improvements, enhancing electric scooter sales in India, China, and Europe. Manufacturers advanced lithium-ion batteries, optimizing range and charging times, and explored swappable battery models to ease infrastructure burdens. Smart scooter adoption rose, featuring app-based navigation, anti-theft systems, and real-time diagnostics. Commercial entities expanded their fleets, capitalizing on economic benefits, and cities managed shared operations to enhance safety. Lightweight, foldable scooters gained popularity for their practicality. In 2024, scooters solidified their position in urban mobility amid efficiency and environmental imperatives. Looking ahead, the market is projected to pivot towards electrification, autonomy, and connectivity, transforming mobility, particularly in dense populations. Investment in battery technology promises enhanced electric scooters. AI and IoT integration will improve predictive maintenance, diagnostics, and analytics. Regulatory mandates will likely accelerate the phasing out of ICE scooters, especially in urban zones. E-commerce and food deliveries will boost demand for commercial models with telematics and cargo customization. Subscription ownership models and MaaS platforms will expand market penetration by offering flexible plans. Developing regions will see robust growth as local manufacturing and supply chains mature. Premium segments will expand, delivering high-performance scooters with advanced features. As smart mobility gains emphasis, scooters will sustain their role in sustainable transport, enabling efficient and eco-friendly urban commuting. Key Insights Rising demand for e-scooters with swappable batteries, enhancing convenience and reducing charging infrastructure reliance. Smart connectivity, including app controls and real-time navigation, attracts tech-savvy users. Demand increases for lightweight and foldable designs suitable for integrated transport use. Shared micro-mobility services utilizing IoT for fleet optimization drive urban scooter usage. Design aesthetics and rider comfort spur innovative, stylistic changes. Government incentives make electric scooters more accessible, driving adoption. Environmental awareness boosts preference for zero-emission models. Key Attributes: Report Attribute Details No. of Pages 150 Forecast Period 2025 - 2034 Estimated Market Value (USD) in 2025 $70.8 Billion Forecasted Market Value (USD) by 2034 $143.1 Billion Compound Annual Growth Rate 8.1% Regions Covered Global Companies Featured Yadea Technology Group Co. Ltd. Ninebot Limited Neutron Holdings Inc. Bird Rides Inc. Skinny Labs Inc. Honda Motor Co. Ltd. Yamaha Motor Pvt. Ltd. Harley-Davidson Inc. Piaggio & C SpA Suzuki Motor Corporation Bayerische Motoren Werke AG. Hero MotoCorp Ltd. Bajaj Auto Ltd. TVS Motor Company Ltd. Mahindra & Mahindra Ltd. Ducati Motor Holding SpA Triumph Motorcycles Ltd. Kawasaki Heavy Industries Ltd. Sanyang Motor Co. Ltd. Gogoro Inc. NIU Technologies Segway Inc. Razor USA LLC Okinawa Autotech Pvt. Ltd. Ather Energy Pvt. Ltd. Ampere Electric Vehicles Pvt Ltd. 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