Healthcare It Market Is Anticipated To Grow Hastily Due To Growing Global Patient Base Till 2020: Grand View Research, Inc.

The global healthcare IT market is anticipated to reach USD 104.5 billion by 2020, according to a new report by Grand View Research, Inc. Increasing demand for enhanced healthcare facilities and introduction of technologically advanced systems are expected to boost industry growth.

Increasing geriatric population prone to chronic diseases resulting into high patient base is triggering the demand for sophisticated healthcare facilities. Furthermore, increasing number of patients requiring home healthcare acts as an effective growth driver for this market.

U.S. Healthcare IT market, by application, 2012 – 2020 (USD Billion)

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According to a report published by the U.S. Centers for Disease Control and Prevention (CDC) in 2011, the number of patients needing home healthcare was nearly 4.7 million in the U.S. and is on a constant rise, which is further expected to fuel the healthcare IT market demand.

Advent of technologically advanced software, such as interoperable system and cloud computing, is expected to attract more investors focus on developing integrated healthcare system to curb problems associated with conventional procedures of record keeping. For example, the uses of e-healthcare record system to maintain patient database help to provide instant information about patients’ health in case of emergency.

Telecommunication and telehealth accounted for over 40.0% of the market share owing to the high usage rates in 2013. Introduction of technological advancements such as Teleimmersive Environment for Everybody (TEEVE) and Session Initiation Protocol (SIP) are the factors promoting this segment’s growth.

Electronic Health Records (EHR) is expected to register an upward shift to reach up to USD 26.72 billion in 2020. Growth is primarily driven by the rising demand for integrated information system in the field of healthcare IT. Faster accessibility and low maintenance cost are the two most significant factors contributing towards the rising demand of these EHR systems.

In 2013, North America market was valued at around USD 20.0 billion owing to the factors such as favorable government initiatives pertaining to the introduction of technologically advanced healthcare IT facilities, sophisticated healthcare infrastructure, and increasing patient awareness levels coupled with relatively higher healthcare expenditures in the region.

On the other hand, Asia Pacific healthcare IT market is expected to reach at over USD 19.6 billion by registering lucrative growth rate in 2020. Growth is attributed to the rising healthcare expenditure, larger untapped opportunities, and growing disposable income level.

Prominent players operating in this industry include Athenahealth Inc., GE Healthcare, Agfa Healthcare, Philips Healthcare, E-MDS Inc., Carestream Health McKesson Corporation, Carestream Health eClinicalworks, and Hewlett-Packard.

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Breast Lesion Localization Methods Market Will Be Worth $1.57 Billion By 2025: Grand View Research, Inc.

The global breast lesion localization methods market is expected to reach USD 1.57 billion by 2025, according to a new report by Grand View Research, Inc. The increasing government and non-government reimbursement policies for mammary gland cancer diagnosis, biopsy, pre-surgical examinations, and other treatment options is estimated to increase the adoption of breast lesion localization procedures. For instance, the Alabama Breast and Cervical Cancer Early Detection Program aims to provide breast and cervical oncology diagnostic and screening services to women who meet certain income, age, and insurance coverage eligibility guidelines.

Furthermore, rising prevalence of breast cancer is anticipated to propel the market growth. The disease is highly prevalent amongst women belonging to the age group of 65 years or above. The maximum risk of mammary gland cancer is between the age of 70 and 79. On the other hand, men are also at a risk of breast cancer. In the U.S., median age of men at diagnosis is approximately 68 years.

U.S. breast lesion localization methods, by type, 2014 – 2025 (USD Billion)

 

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Further key findings from the report suggest:

  • Wire localization biopsy dominated the market in 2016 owing to its higher usage by healthcare practitioners, easy availability, and presence of a wide product range
  • Magnetic tracer is expected to grow at lucrative CAGR of 14.0% over the forecast period as a result of increasing adoption of MagSNOLL technology over conventional wire localization.
  • Radioisotope seed localization is considered the most preferred method amongst all radioisotope localization methods due to its benefits such as ease of localization few weeks before the excision surgery and lesser need for reoperation.
  • North America is estimated to be the largest regional market. It dominated the market in terms of revenue with USD 185.04 million in 2016 owing to the presence of well-established healthcare services and increasing number of oncology surgeries being performed.
  • In addition, early adoption of devices and shift from traditional to technologically advanced products by healthcare providers are some of the factors anticipated to increase the demand for localization devices in this region
  • Asia Pacific is expected to be the fastest growing region over the next decade with lucrative CAGR from 2017 to 2025 due to growing awareness about breast screening among the people. Furthermore, presence of a large target population and rising disposable income are some of the factors expected to propel the growth of this region.
  • Key players in this industry are Cianna Medical, Inc.; Cook Medical; STERYLAB; CP Medical; SOMATEX Medical Technologies; Argon Medical Devices, Inc.; and C.R BARD, Inc.
  • Most of the key players are focusing on strategies such as expansion of their product portfolios and collaborations, mergers, & acquisitions. In November 2015, C.R. BARD, Inc. announced the acquisition of Liberator Medical Holdings, Inc., a direct-to-customer distributor of medical products

 

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Audiology Devices Market Is Predicted To Reach USD 9,542.3 Million By 2020: By Grand View Research, Inc.

The Global audiology devices market is expected to reach USD 9,542.3 million by 2020, growing at an estimated CAGR of 5.0% from 2014 to 2020, according to a new study by Grand View Research, Inc. Introduction of technological advancements such as wireless devices, acceptance of these devices by the geriatric population along with increase in demand of cost-effective and efficient devices are some of the major drivers of this market. In addition, presence of untapped growth opportunities in emerging countries such as India, Brazil and China and the increasing health awareness are expected to serve this market as future growth opportunities.

Hearing aids dominated the overall market in terms of revenue share at 64.1% in 2013. High comfort rendered by these products, enhanced connectivity and enhanced user friendliness are some of the factors attributing to its high usage rates and subsequently large market share.

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Further key findings from the report suggest:

  • Behind-the-Ear (BTE) aids dominated the hearing aid market by product in terms of share at over 55.5% in 2013 due to its ease of use and connectivity.
  • Europe was the largest regional market in 2013, accounting for over 40.0% of global revenue due to the increased prevalence of deafness coupled with the presence of high patient disposable incomes and sophisticated healthcare infrastructure.
  • Asia Pacific audiology devices market is expected to grow at the fastest CAGR of 7.4% from 2014 to 2020. Presence of unmet medical needs coupled with a regularly improving healthcare infrastructure coupled with growing population in emerging markets such as India and China are some of the factors attributing to its lucrative growth.
  • Cochlear implants are expected witness significant growth over the forecast period, owing to its high effectiveness in terms of sentence understanding. A cochlear implant achieves an average of 80% sentence understanding as compared to hearing aids with 10% sentence understanding.
  • Key industry participants of this market include William Demant Holdings A/S, GN ReSound Group, Sonova Holdings AG, Starkey Hearing Technologies, Siemens Healthcare and Widex A/S, Phonak, Audioscan, Cochlear Ltd., Interacoustics, ReSound, Rayovac, Advanced Bionics, MED-EL, Natus, Duracell, Grason-Stadler, Sophono, Oticon, MedRx, Power One, Austar Hearing, National Hearing Care, and NHC/Amplifon.

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Male Infertility Market To Witness Growth Based On Increasing Aging Population & Rising Obesity Till 2025: Grand View Research, Inc.

The global male infertility market is expected to reach USD 4.7 billion by 2025, according to a new report by Grand View Research, Inc. Globally, increasing infertility in male and advancements in diagnostic tests have been major factors driving the market growth. In addition, growing consciousness regarding factors causing male infertility and Assisted Reproductive Technology (ART) has led to increased adoption of treatment.

Furthermore, increasing aging population, rising obesity, and other lifestyle-associated diseases causing infertility are likely to boost the market during the forecast period. In the U.S., one third of infertility cases are due to female factor, one third due to male factors, and remaining one third are unexplained.

DNA fragmentation technique was the largest segment in male infertility tests market in 2016 and is expected to maintain its dominance during the forecast period due to rapid growth in next few years. High cost and increasing adoption in developed countries due to higher sensitivity and reliable analysis of sperm DNA integrity are the key factors for its dominance.

In 2016, ART segment dominated in the treatment market due to high success rate. In Vitro Fertilization and Intracytoplasmic Sperm Injection (ICSI) are the major ARTs used. Medications include corticosteroids and hormonal therapy; however, they are effective in very few cases. Hence, low demand, less adherence, and lower cost as compared to ART are likely to slow the growth of the medication market.

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Further Key Findings From the Report Suggest:

  • Rising demand of ARTs across the globe is expected to propel growth at the fastest rate from 2017 to 2025
  • DNA fragmentation technique for the testing of male infertility dominated in 2016 and is estimated to generate revenue at a rapid rate over the forecast period.
  • Oxidative stress analysis is another method gaining popularity due to accurate determination of reactive oxygen species. The test accounted second largest share in the testing market.
  • The Europe market was the largest in 2016 and is expected to maintain its dominance during forecast period due to higher awareness, strong diagnosis rate, and high adoption of costlier treatment.
  • The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to growing investment by several clinics and pharmaceutical companies in the region, and increasing healthcare expenditure.
  • Some key players include EMD Sereno, Inc.; Aytu BioScience, Inc.; Bayer Healthcare; Cadila Healthcare Ltd.; Intas Pharmaceuticals Ltd.; Halotech DNA SL; SCSA diagnostics, Inc.; and Andrology Solutions. However, EMD Sereno, Inc. currently dominates the male infertility market.

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Grand View Research has segmented the global male infertility market on the basis of test, treatment, and region:

Male Infertility Test Outlook (Revenue, USD Million, 2014 – 2025)

  • DNA Fragmentation Technique
  • Oxidative Stress Analysis
  • Microscopic Examination
  • Sperm Agglutination
  • Computer Assisted Semen Analysis
  • Sperm Penetration Assay
  • Others

Male Infertility Treatment Outlook (Revenue, USD Million, 2014 – 2025)

  • Assisted Reproductive Technology
  • Medication

Male Infertility Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
  • Asia Pacific
    • Japan
    • China
  • Central & South America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com

In-vitro Diagnostics Market Is Anticipated To Grow Quickly Due To Surging Need For Detecting Communicable diseases Till 2020: Grand View Research, Inc.

Global in vitro diagnostics market is expected to propagate at a significant rate owing to the surging incidences of rising aging population, chronic lifestyle related diseases, and increased usage of personalized medicine and point-of-care testing. In vitro diagnostics is anticipated to grow due to the developments, innovation, and advancements in various IVD technologies. Rising health concerns and the ability of the consumers to take these IVD tests at home and in hospital have increased their awareness among the consumers, leading to market growth. Serious health issues including diabetes, cancer, and sexually transmitted diseases are expected to be identified using IVD tests and surge the growth of the market in the long run.

Increased awareness among the consumers about various diseases, quickly altering healthcare environment, and enhanced role of diagnostics in patient care has provided a boost to the in vitro diagnostic market. Surging need for detecting communicable diseases, point-of-care recognition, and identification of various diseases like respiratory infections, RSV, influenza, and pneumonia along with identification of pathogens causing filariasis and malaria are some of the key drivers of IVD market.

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Product-wise the in vitro diagnostic market is segmented into instruments, services, data management systems, reagents, and kits that are intended to diagnose and determine the state of health to mitigate, cure, prevent, or treat a particular disease. The Food and Drug Administration (FDA) classifies the IVD products according to regulatory control into Class I, II and III. Different techniques of carrying out IVD tests are molecular diagnostics, blood testing, diabetes testing, clinical chemistry, microbiological diagnostic techniques and flow cytometry. The tissue diagnostic market is expected to rise owing to the increasing incidents of lung and bronchus cancer, melanoma, and prostate breast cancer diagnosis. In 2013, Professional IVD products were the largest segment accounting for revenue of USD 36,117.3 million in 2013.

Electrolyte panel, basic metabolic panel, lipid profile, liver panel, renal profile, rapid tests, western blot, hematology, coagulation, hemostasis, microarray, hybridization, radioimmunoassay and specialty chemicals are the most commonly used technologies in the market. Applications of in vitro diagnostics include oncology, cancer, nephrology, cardiology, drug testing, autoimmune diseases, diabetes and infectious diseases. The IVD tests are being used by a wide range of customers including academic institutes, in point-of-care testing, patient self-testing, hospitals, and laboratories.

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Region-wise the global IVD market is segmented into various regions including North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In 2014, North America was the largest regional segment with about 43% market share owing to established distribution channels, extraordinary diagnostics in cancer screening, and prevalent disorders like respiratory diseases and genetic testing. IVD market in Europe follows the lead and is expected to rise on account of rising cases of cancer, tuberculosis and pneumonia. However, Asia Pacific and China will follow the IVD market trend owing to the rising population and increasing disposable incomes.

Prominent players dominating the global IVD market are Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostics, Abbott Laboratories, and Beckman Coulter Inc. Few other competitors are Ortho-Clinical Diagnostics, Inc., Danaher Corporation, Thermo Fisher Scientific, Sysmex Corporation, Bio-Rad Laboratories, Inc., and bioMérieux.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com

Tourniquet Systems Market Will Witness Growth Based On rapid Increase In The Number Of Hospitals & Surgical Care Centers Till 2025:Grand View Research,inc.

The global tourniquet systems market is expected to reach USD 594.8 million by 2025, according to a new report by Grand View Research, Inc. Growing incidence of industrial & road accidents and major falls has been a major factor driving market growth. In addition, rapid increase in the number of hospitals and surgical care centers has led to increased application of tourniquets.

Tourniquets are majorly used when hemorrhages cannot be controlled with direct pressure or selective clamping of bleeding vessels. Certain advantages in modern surgical tourniquet systems such as safety, accuracy, and reliability have resulted in widespread adoption of these devices in orthopedic surgeries. Furthermore, technologically advanced tourniquet systems are now integrated with a wide range of pneumatic cuffs that help optimize the performance of the overall system. However, reusable cuffs might result in transmission of infection, which would consequently raise hospital costs and may hinder the growth of market during the forecast period.

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Further key findings from the report suggest:

  • The market study suggests that tourniquet cuffs dominated the overall market in 2016 owing to their increasing applications in orthopedics, trauma, and emergency settings.
  • Amongst the application segments, hospitals occupied the largest share as they are effective in arresting life‐threatening external hemorrhage caused due to limb injury
  • In addition, the non-institutional application segment is expected to grow rapidly due to the potential application of tourniquets in military war settings.
  • The Advanced Trauma Life Support (ATLS) recommends that “the judicious use of a pneumatic tourniquet may be helpful and lifesaving” in cases of major arterial hemorrhage caused by military wars
  • North America dominated in 2016 owing to presence of an excellent healthcare infrastructure, rise in the number of road accidents, and increasing adoption of advanced tourniquet devices
  • The Asia Pacific region is anticipated to witness significant growth during the forecast period. It will have one of the widest consumer base of tourniquets owing to huge population, increasing industrial & road accidents, and commendable financial support from various governments.
  • Some of the major companies operating in this market are Delfi Medical, Zimmer Biomet, Hammarplast Medical AB, VBM Medizintechnik GmbH, Stryker, ulrich medical, and Rudolf Riester GmbH

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Grand View Research has segmented the global tourniquet systems market on the basis of component, application, and region:

Tourniquet Systems Component Outlook (Revenue, USD Million, 2014 – 2025)

  • Tourniquet instrument
  • Tourniquet cuffs
    • Pneumatic
      • Disposable
      • Reusable
    • Non-pneumatic

Tourniquet Systems Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Hospitals
  • Ambulatory setting
  • Non-institutional use

Tourniquet Systems Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
  • Asia Pacific
    • China
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com

Revenue Cycle Management Market Will Witness Growth Based On Ancillary Growth Of The Healthcare IT & Analytics Industry Till 2025:Grand View Research,inc.

The global revenue cycle management (rcm) market is expected to reach USD 65.2 billion by 2025, according to a new report by Grand View Research, Inc. The healthcare system is witnessing a paradigm shift primarily due to the changing dynamics of the business models.

These changing dynamics of the hospital industry in developed regions is expected to involve centralization and digitalization of the back-end processes, thereby demanding the implementation of revenue cycle management, which is anticipated to positively affect the market growth.

The healthcare industry is extremely vast and its centralization will help in synchronizing the entire work process along with providing economic benefits. Almost all industries aim to achieve lean management and six-sigma incorporation in their work culture to optimize resource usage and increase efficiency.

Furthermore, development of value-added services, i.e., integration of RCM system with other healthcare IT solutions such as practice management, Electronic Health Record (EHR), Computerized Physician Order Entry (CPOE) is anticipated to propel demand over the forecast period. For instance, Kareo, Inc. are multiple software enlisted in their portfolio that find high application in integrated solutions along with being used as standalone options.

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Further Key Findings From The Study Suggest:

  • Services are expected to witness highest growth at a CAGR of over 11.0%. In particular, denial management and accounts receivable services are expected to be highly outsourced over the forecast period.
  • Integrated solutions are anticipated to be the fastest growing segment. These can be used cohesively along with various other software to enhance efficiency and communication across different departments.
  • The web-based segment is predicted to dominate the RCM market in 2025. These services are more affordable than cloud-based solutions.
  • Hospitals and other end-users are expected to be the most lucrative segments over the next 8 years. To further support the segment, physician offices are also expected to contribute stable revenue, thereby promoting overall market growth.
  • Asia Pacific followed by Latin America are expected to report fastest CAGR for the next 9 years. Furthermore, regions in MEA such as Saudi Arabia, Egypt, and Abu Dhabi, which are currently undergoing IT infrastructure development are expected to present lucrative opportunities.
  • Major participants include McKesson Corporation; Epic Systems; Cerner Corporation; CareCloud Corporation; Kareo, Inc.; The SSI Group, LLC; Quest Diagnostics, Inc.; eClinicalWorks; athenahealth, Inc.; and Allscripts. Other firms include AdvantEdge Healthcare Solutions, Anthelio Healthcare Solutions, Greenway Health, LLC; and NextGen Healthcare

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Grand View Research has segmented the global revenue cycle management market on the basis of product, type, delivery mode, end-use, and region:

  • Global RCM Product Outlook (Revenue, USD Million, 2014 – 2025)
    • Software
    • Services
  • Global RCM Type Outlook (Revenue, USD Million, 2014 – 2025)
    • Integrated
    • Standalone
  • Global RCM Delivery Mode Outlook (Revenue, USD Million, 2014 – 2025)
    • On premise
    • Web-based
    • Cloud-based
  • Global RCM End-use Outlook (Revenue, USD Million, 2014 – 2025)
    • Physician office
    • Hospitals
    • Diagnostic Laboratories
    • Others
  • RCM Regional Outlook (Revenue, USD Million, 2014 – 2025)
    • North America
      • U.S.
      • Canada
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East and Africa (MEA)
      • South Africa
      • Saudi Arabia

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com