A market research report on
Healthcare Future
Outlook 2023
TABLE OF CONTENTS
1.
Market Overview
3.4 Preventive Healthcare (Detailed overview & Key 1.1 Market Trends
Players)
1.2 Factors affecting the market 3.4.1 Wearable devices
3.4.2 Genomic testing
2.
Major Innovations & Launches in 2023
3.4.3 Vaccines
3.4.4 Food supplements or Nutraceutical 3.
Healthcare Market Segmentation 3.5 Pharmaceuticals
3.1 Market segments to look forward to and why 3.5.1 R&D
3.2 Remote Healthcare (Detailed overview & Key Players) 3.5.2 Blockchain technology in pharmaceuticals 3.2.1 Remote monitoring devices 3.2.2 Telemedicine
4.
Geopolitical Events – Impact analysis 3.2.3 Home medical treatments
4.1 Impact of geopolitical events in reshaping the face of 3.3 Emerging Tech Solutions (Detailed overview & Key future
Players)
3.3.1 Augmented reality in healthcare 5.
Key Players
3.3.2.Artificial Intelligence
5.1 Expected performance by the key players in the 3.3.3 Robotics
industry
5.2 Probable set backs and vulnerable areas 2
Market Overview – Trends
The Global Healthcare market is expected to grow up to $ 12.3 Trillion in 2023 with an acceleration of 9.8% CAGR to reach up to
$ 23.6 Trillion by the year 2030, pertaining to the upcoming advancements in technology and patient awareness
Global Healthcare Market, 2020 - 2030 ($ Trillion) Key Insights
•
Healthcare trends for 2023 involve maximizing 23.6
the utility of cloud technology, real-world data, 21.5
19.6
digital
wearables,
artificial
intelligence
(AI),
17.8
consumer
healthcare,
and
remote
patient
16.2
14.8
tracking
13.5
12.3
11.2
10.2
9.3
•
Market Drivers: Geriatric population, increased access to healthcare services, advancements in technological
innovations,
improvement
in
government policies, increasing prevalence of chronic and metabolic conditions 3
Market Overview – Factors affecting the market Personalized healthcare:
•
Increasing prevalence of chronic diseases, growing demand for personalized medical treatments & Government initiatives and policy support
•
Advances in genomics and other digital technologies
•
Increasing healthcare costs
Regulations & legislation:
•
CMS (The Centers for Medicare and Medicaid Services) has announced a hospital reimbursement rate hike of 4.3 percent in 2023 for inpatient prospective payment system (IPPS) and long-term care hospital (LTCH) payment system
•
2023, will expect hospitals to comply with the Hospital Price Transparency Final Rule, which requires hospitals to reveal their standard prices and make prices publicly available to customers Inflation & affordability:
• The annual US national health spending is anticipated to be $370 billion more by 2027 owing to the impact of inflation when compared to pre-inflation expectations
• Affordability of employer-sponsored health care will decrease considerably to 9.12% of an employee's household income for the 2023 year, down from 9.61% in the 2022
Digital spend inefficiency:
•
For healthcare organizations: It may lead to resource wastage and financial losses due to lack of investment returns
•
For patients it may lead to suboptimal experience and inefficient healthcare service 4
Major Innovation & Launches 2023
Genomics England in partnership with the Eli Lilly
NHS
• Intends to file regulatory applications for five products, undertake
•
six phase 3 trials, and provide findings from six additional phase 3
$127.51 million funded for a world-leading research study aiding trials
diagnosis of rare genetic diseases in newborns which is expected to begin genome sequencing in 2023
• Planning to file for the mantle cell lymphoma therapy pirtobrutinib
•
and also set for regulatory submission for drugs for CKD and The grant is part of a new three-year strategy to develop, test, and Alzheimer
implement innovative technologies across the health-care system and deliver world class genomic healthcare 5
Healthcare Market Segmentation HEALTHCARE MARKET SEGMENTATION
Remote Healthcare
Emerging Tech Solution
Preventive Healthcare
Pharmaceuticals
Augmented reality in
Wearable devices
Research & Development
Remote monitoring devices
healthcare
Telemedicine
Blockchain technology in
Artificial Intelligence
Genomic testing
pharmaceuticals
Home medical treatments
Robotics
Vaccines
Food supplements or
Nutraceuticals
6
Market Segmentation – Top healthcare market segments to look forward to and why
EMERGING TECH
PREVENTIVE
REMOTE HEALTHCARE
PHARMACEUTICAL
SOLUTIONS
HEALTHCARE
• The continued impact of
• Supply chain disruptions in the
• Growing demand of remote care
• Pharmaceutical market is
COVID-19 has added to the
past has impacted in a way to
services has led to
expected to keep growing at a
existing burden in several
pave the way for technologies
advancement of patient
greater pace as more emerging
countries and increased the
that will play a significant role in monitoring devices
countries take part in providing demand for at-home healthcare
improving diagnosis,
cheaper production
services and remote monitoring
management, and therapy
opportunities
•
devices
Furthermore, the increasing use of cloud-based tools to enhance
• They will also undoubtedly aid in preventative healthcare delivery
• Rising investments by the key
• Healthcare consumerism is
improving patientcare. This will is fueling market expansion
pharmaceutical companies into
anticipated to grow significantly be especially be useful when
new clinical trials and R&D to from 2023 onward
dealing with mental health, such replace conventional therapies
•
as for those suffering from
Adoption of different
with more effective modern
Alzheimer's disease
government initiatives
medicine
• Coming forward, as the
substantial research and
insurance companies have
development (R&D) efforts, and begin to cover for home
• Moreover, improve surgical
increased public knowledge
• Specialty medication is
healthcare services, the market outcomes and add precision to
about preventative approaches
anticipated to level up, affecting is expected to surge
existing practices
the drug prices as they fall
substantially
7
Healthcare Market Segmentation – Remote Healthcare REMOTE MONITERING DEVICES
TELEMEDICINE
•
Globally, Remote monitoring device market was worth USD 1.3
Bn in 2022 and is expected to be worth $3.0 Bn by 2028, with a 15.4% CAGR from 2023 to 2028
•
North America leads the Remote patient monitoring device market followed by Europe
•
In April 2022, Singapore brand BUZUD, Fosun Trade Medical Purchase the report for in-depth information Device, launched two new medical devices, namely the BUZUD
Multi-Parameter Monitor (MPM), designed to streamline the medical monitoring process and help healthcare professionals provide a higher level of care to their patients, and the BUZUD
PulseBit EX, a personal electrocardiogram (ECG) tracker that makes heart care affordable and convenient for heart patients
•
Key Players : Medtronic, Boston Scientific, Biotronik, MedM, GE
Health, Omron Healthcare and others 8
Who should buy this report?
HealthTech
MedTech
Healthcare
Other Lifesciences
Companies
Players
Providers
Companies
Topics of Upcoming Reports
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Patient Engagement- a New Standpoint on Care that is Patient-Centered
Methodology & Scope
Research Methodology
▪
Insights 10’s research methodology delves deeper into the market, covering the macro and micro aspects of the industry. We identify the key growth drivers, opportunities, and restraints that might promote or hinder the future industry growth along with an expansive overview of the competitive landscape to help our clients make informed strategic decisions
▪
We implement a mix of primary and secondary research for our market estimate and forecast. The secondary research forms the initial phase of our study where we conduct extensive data mining, referring to verified data sources such as independent studies, government and regulatory published material, technical journals, trade magazines, and paid data sources
▪
For forecasting, the following parameters are considered:
❑
Market drivers and restraints along with their current and expected impacts
❑
Technological scenario and expected developments
❑
End use industry trends and dynamics
❑
Trends in the consumer behavior
❑
Regulatory scenario and expected developments
❑
Current capacity and expected capacity additions up to 2030
▪
We assign weights to these parameters and quantify their market impacts using the weighted average analysis to derive the expected market growth rate
▪
We appoint data triangulation strategies to explore different areas of the market. Our qualitative and quantitative assessments are time-sensitive, reflecting the most recent value and volume of the market across regions
▪
All our estimates and forecasts are verified through exhaustive primary research with the Key Industry Participants (KIPs)
▪
Currency used in the report is the US dollar (USD), with the market size indicated in USD million/billion (Mn/Bn) 12
Analysis Methodology
Our Analysis Methodology involves three critical stages: Market Data Analysis
Interpretation &
Data Collection
& Statistical Model
Presentation
Analysis &
Market Trends
Interpretation
Secondary
Research
Market Sizing &
Insights
Analysis
Primary
Research
Data Triangulation &
Presentation &
Validation
Reporting
13
Data Triangulation & Data Validation Top Down Approach
Final
Final Market size break up to Market
rest of segmentation
Size
Validation from
Arriving at market size
Primary Interview
of each segment
Summarization of revenue
generated from companies
Validation from
to arrive at total market size Primary Interview
Revenue generated by products & Final
services offered by companies Summary
Bottom Up Approach
14
Key Benefits for Stakeholders from this Report Study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets
Our tools provides stakeholders with a cohesive understanding of the industry outlook, considering the qualitative and quantitative industry variables Comprehensive analysis of factors that drive and restrict the market growth is provided Comprehensive quantitative analysis of the industry from 2021 to 2030F is provided to enable the stakeholders to capitalize on the prevailing market opportunities Extensive analysis of the key segments of the industry helps understand the applications and technologies used globally Our rigorous data collection, thorough statistical analysis and specialist assessments ensure that our clientele has a greater understanding of the industry space, supply chain, price fluctuations, competitive landscape, and other vital factors 15
Time Frame
Report Attribute
Details
Quantitative Units
Revenue in USD Million/Billion (Mn/Bn) Base Year for
2021
Estimation
Market Overview, Revenue Forecast, Market Segmentation, Growth Factors and Trends, Report Coverage
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