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As the entire world healthcare system is recovering from the impact of COVIDu201319, it is constantly evolving for providing better patient care and medical services. Advancements in technologies such as AI, cloud computing, robotics, and EHR will seem to take over the trends for the upcoming year as personalized treatments and customized solutions have shown to make their way into the healthcare system. To get a report in detail, contact us at - info@insights10.com
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A market research report on Healthcare Future Outlook 2023
TABLE OF CONTENTS 1. Market Overview 1.1 Market Trends 1.2 Factors affecting the market 3.4 Preventive Healthcare (Detailed overview & Key Players) 3.4.1 Wearable devices 3.4.2 Genomic testing 3.4.3 Vaccines 3.4.4 Food supplements or Nutraceutical 3.5 Pharmaceuticals 3.5.1 R&D 3.5.2 Blockchain technology in pharmaceuticals 2. Major Innovations & Launches in 2023 3. Healthcare Market Segmentation 3.1 Market segments to look forward to and why 3.2 Remote Healthcare (Detailed overview & Key Players) 3.2.1 Remote monitoring devices 3.2.2 Telemedicine 3.2.3 Home medical treatments 3.3 Emerging Tech Solutions (Detailed overview & Key Players) 3.3.1 Augmented reality in healthcare 3.3.2.Artificial Intelligence 3.3.3 Robotics 4. Geopolitical Events – Impact analysis 4.1 Impact of geopolitical events in reshaping the face of future 5. Key Players 5.1 Expected performance by the key players in the 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 Key Insights Global Healthcare Market, 2020 - 2030 ($ Trillion) Healthcare trends for 2023 involve maximizing • 23.6 the utility of cloud technology, real-world data, 21.5 digital wearables, artificial intelligence (AI), 19.6 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 Eli Lilly Genomics England in partnership with the NHS • Intends to file regulatory applications for five products, undertake six phase 3 trials, and provide findings from six additional phase 3 trials • $127.51 million funded for a world-leading research study aiding 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 Alzheimer • The grant is part of a new three-year strategy to develop, test, and 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 healthcare Wearable devices Research & Development Remote monitoring devices Blockchain technology in pharmaceuticals Telemedicine Artificial Intelligence Genomic testing Home medical treatments Robotics Vaccines Food supplements or Nutraceuticals 6
Market Segmentation – Top healthcare market segments to look forward to and why EMERGING TECH SOLUTIONS PREVENTIVE HEALTHCARE REMOTE HEALTHCARE PHARMACEUTICAL • The continued impact of COVID-19 has added to the existing burden in several countries and increased the demand for at-home healthcare services and remote monitoring devices • Supply chain disruptions in the past has impacted in a way to pave the way for technologies that will play a significant role in improving diagnosis, management, and therapy • Growing demand of remote care services has led to advancement of patient monitoring devices • Pharmaceutical market is expected to keep growing at a greater pace as more emerging countries take part in providing cheaper production opportunities • Furthermore, the increasing use of cloud-based tools to enhance preventative healthcare delivery is fueling market expansion • They will also undoubtedly aid in improving patientcare. This will be especially be useful when dealing with mental health, such as for those suffering from Alzheimer's disease • Rising investments by the key pharmaceutical companies into new clinical trials and R&D to replace conventional therapies with more effective modern medicine • Healthcare consumerism is anticipated to grow significantly from 2023 onward • Adoption of different government initiatives substantial research and development (R&D) efforts, and increased public knowledge about preventative approaches • Coming forward, as the insurance companies have begin to cover for home healthcare services, the market is expected to surge substantially • Moreover, improve surgical outcomes and add precision to existing practices • Specialty medication is anticipated to level up, affecting the drug prices as they fall 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 Purchase the report for in-depth information In April 2022, Singapore brand BUZUD, Fosun Trade Medical • 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? Other Lifesciences Companies Healthcare Providers MedTech Players HealthTech Companies
Topics of Upcoming Reports 10 Ways in which Current Macro Upheavals in China will Impact Global Life Sciences Industry 10 Ways in which Technology is Driving Better Efficiency in Clinical Trials Cost of this report: $2,500 Digital Therapeutics Regulatory Process, Updates and Trends Will the Expiry of Humira Market Exclusivity and Entry of its Biosimilars Move the Needle in BioPharma Market? From the Fringes to the Forefront: mRNA is here to Transform Global Health Annual Subscription: $125,000 $60,000 (Includes a total of 50 reports) Melting the Iron Triangle: 10 Healthcare Players aiming Beyond Health Equality to Conquer Health Equity Robotics: Embarking a New Era in Surgical Innovations Metaverse: Paving the way for Health 4.0 Healthcare Future Outlook 2023 www.insights10.com Patient Engagement- a New Standpoint on Care that is Patient-Centered
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 & Statistical Model Interpretation & Presentation Data Collection Analysis & Interpretation Market Trends Secondary Research Market Sizing & Analysis Insights Primary Research Presentation & Reporting Data Triangulation & Validation 13
Data Triangulation & Data Validation Top Down Approach Final Market Size Final Market size break up to rest of segmentation Validation from Primary Interview Arriving at market size of each segment Summarization of revenue generated from companies to arrive at total market size Validation from Primary Interview Revenue generated by products & services offered by companies Final 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 Estimation 2021 Market Overview, Revenue Forecast, Market Segmentation, Growth Factors and Trends, Company Profiles, Competitive Landscape, Regulatory Landscape, Future Opportunities Report Coverage Report Customization (5 working days) with purchase. We will provide you with data that is currently not a part of our scope as a part of customization Customized Report Forecast Period 2022- 2030 Pricing and purchase options Avail customized purchase options to meet your exact research needs
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Project Leadership Team Dr. Purav Gandhi Founder & CEO Mukesh Nayak Head - Marketing Ritu Baliya Engagement Manager Dhruv Joshi Consultant Purav is a physician and an entrepreneur with 12+ years of experience in Healthcare & Life Sciences industry spanning across strategy, market access, health informatics and RWE, Digital Healthcare, analytics and data science. Purav studied medicine from Gujarat University and also completed his MBA from IIM-Kozhikode. Purav started his career with Deloitte working on strategy consulting engagements and also co- founded ConvergeHealth by Deloitte. Mukesh is an engineering graduate with an MBA in Marketing. He is a seasoned healthcare market research & marketing professional with a progressive experience of over 20 years in Life Sciences, Pharma and Medical Device sectors . With an in-depth understanding of primary research, he has conducted hundreds of interviews of various stakeholders in pharma & healthcare & completed several research projects across life sciences industry. Ritu has over 6 years of experience in strategy building, market assessments, market sizing, and RWE for global MNC healthcare & biopharma clients across diff. markets (America, Europe, Africa, APAC and Middle East). Her areas of expertise include: Indentifying emerging trends in life sciences industry, Competitor landscape assessment, Disease opportunity assessments etc. She is a pro in secondary and primary research with a deep domain expertise in healthcare sector. Dhruv Joshi is an engineer and has done Masters in Hospital Administration with over 4 years of experience in the healthcare and life science industry. He has gained proficiency in market research, market assessment, and developing insights from it. He has worked on various consulting projects across different geographies including Asia, Europe, US, MENA. He has been aligned in working for sector reports of various geographies along with market sizing and forecasting.
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