Healthcare Industry Insights

Tuesday, 3 March 2020

E-Prescribing Market Size is Projected to Register 24.5% CAGR till 2026

The global E-Prescribing Market size is expected to reach USD 6.0 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 24.5%. Increasing emphasis on reduction of drug abuse & fraud, rising initiatives by the government to digitalize healthcare systems, and growing efforts on reducing medication errors are the major factors driving growth. However, high initial investment and resistance to adoption of new technology, by both patients & healthcare providers, restrain growth. On the other hand, improving healthcare infrastructure and increasing healthcare expenditure in developing countries are anticipated to provide numerous growth opportunities for the market. Moreover, using Electronic Healthcare Records (EHRs) with e-prescribing increases the potential for growth.

E-prescribing is widely used in preparation and maintenance of complete medication lists. Moreover, the technology also aids extraction of complete patient information and formulary with continuous data security checks. These services are gaining traction due to increasing application of technology in the healthcare sector and significant support from governments across the world. For instance, government initiatives include incentive programs to promote e-prescribing, such as the National Council for Prescription Drugs Program and the Clinical Health Act in North America.

According to the U.S. Department of Health and Human Services, 2018, 7,000 to 9,000 people die due to medication errors in the U.S. every year. Furthermore, Adverse Drug Events (ADEs) account for almost 700,000 emergency visits and more than 100,000 hospitalizations. This technology is anticipated to reduce such errors by eliminating handwritten prescription. Moreover, the technology enables the prescriber follow formulary compliance by using the decision support systems, as well as improves the ability to transfer medical prescriptions.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/e-prescribing-market

Further key findings from the study suggest:

As a result of increasing adoption and growing preference, integrated solutions is expected to growth at the CAGR of 22.9%
Standalone system segment is expected to exhibit steady growth during the forecast period, owing to the lower price and easy installation
Implementation and support services are expected to hold significant shares. This can be attributed to high initial investment followed by ongoing need for support services
Cloud-based systems had the maximum market share of more than 35% in the delivery mode segment in 2018
North America held a major market share of almost 40% in 2018, owing to government initiatives and incentive programs
According to the U.S. Department of Health and Human Services, medical errors are the third cause of deaths in the U.S.
Hospitals accounted for the maximum market share of end-use segment due to high degree of implementation of the technology
In 2018, Surescripts (U.S. health information network) processed more than 5.2 million e-prescriptions every day
In 2018, state and federal legislators recognized Electronic Prescription for Controlled Substances (EPCS) as a vital tool in combatting opioid epidemic
Overall opioid prescribing continued to decline in the U.S., and e-prescriptions for opioids increased by almost half in the year 2018
Some key players are Allscripts Healthcare Solutions, Inc.; Cerner Corporation; Henry Schein, Inc.; General Electric Company; Quality Systems, Inc.; and Epic Systems Corporation.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Healthcare Interoperability Solutions Market Analysis and Outlook, 2026

The global Healthcare Interoperability Solutions Market size is expected to reach USD 4.7 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 13.0% during the forecast period. Rising focus on patient-centric care, increasing need to curb high healthcare cost, and growing government initiatives to enhance patient safety & care are some major factors driving market growth. Rising healthcare IT penetration, especially in developing economies, is further expected to create significant growth opportunities for market players. However, rising complexity due to lack of reliable data & trained professionals and increasing data privacy & safety concerns are some key factors expected to impede growth.

Healthcare organizations are adopting Electronic Health Record (EHR) systems that support integration between different technologies/systems, increasing the need for interoperability solutions across all healthcare settings. Interoperability solutions help share and access complex data. These solutions allow sharing, exchange, and reuse of data across different devices and applications, which help reduce overall healthcare expenditure.

However, to make the best use of interoperability solutions and for their effective implementation, healthcare organizations need to work holistically at data sharing & implementing strategies, spanning the complete patient care continuum. Collaboration among players is expected to be one of the key factors responsible for driving the market.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/healthcare-interoperability-market

Further key findings from the study suggest:

Services segment is held the largest healthcare interoperability solutions market share in 2018
EHR interoperability held the maximum market share in 2018 owing to high adoption rate in hospitals
According to the Healthcare Information and Management Systems Society (HIMSS), more than 60% of the hospitals have adopted EHR technology
According to the West Health Institute (WHI), adoption of interoperability solutions could lead to significant reduction in healthcare spending in the U.S.
Semantic segment in level is anticipated to witness fastest growth due to growing government efforts toward implementation and adoption of interoperability solutions across healthcare settings
North America dominated the regional segment in 2018. This can be attributed to supportive government policies, favorable reimbursement schemes, rise in awareness about interoperability solutions, and increase in number of training programs for implementing these solutions across healthcare settings
Asia Pacific is expected to grow with the highest CAGR of over 14.0% over the forecast period owing to well-established infrastructure and low healthcare cost in developing countries
Some of the key players are Intersystems Corporation; Orion Health Group Limited; Infor, Inc.; Cerner Corporation; Interfaceware, Inc.; Allscripts Healthcare Solutions, Inc.; Nextgen Healthcare, Inc.; EPIC Systems Corporation; OSP Labs; Koninklijke Philips NV; Visolve, Inc.; and Jitterbit.

Medical Writing Market Trends, Analysis, Growth and Outlook Report, 2026

The global Medical Writing Market size is expected to reach USD 6.9 billion by 2026 registering a CAGR of around 10%, according to a new report by Grand View Research, Inc. Increasing demand for regulatory paperwork in the pharmaceutical and biotechnology industries is driving the medical writing market. Rising need for marketable written content to convey drug-related information to healthcare professionals and patients is also likely to augment the market growth. Pharmaceutical companies face many regulatory complexities, this creates a need for expertise in different portfolios driving the demand for clinical services outsourcing market.

Increasing R&D costs are expected to drive this demand further over the forecast years. Drug manufacturers outsource the production of medicines in the form of clinical trials. Large-scale pharma organizations have in-house medical writing division. However, rise in patent expiry in recent years has resulted in a compelling need to gain efficiencies and reduce costs. A survey by CenterWatch on pharmaceutical services reported that medical writing is the fourth most outsourced clinical function. Majority of such services are outsourced by drug manufacturers to the developed regions.

However, developing countries, such as China and India, have been able to capture a share in this industry due to the availability of the labor force. Low costs, along with a high number of science graduates, gives developing economies an advantage over other regions. North America was the dominant regional market in 2018 due to a comprehensive regulatory framework for novel drug and healthcare products. Asia Pacific is expected to be the fastest-growing market owing to availability of the labor force and increasing number of CROs.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/medical-writing-market

Further key findings from the study suggest:

The clinical writing type segment led the global medical writing market , in terms of revenue, in 2018 and is projected to maintain its dominance over the forecast period
Regulatory writing is expected to witness the fastest CAGR from 2019 to 2026 due to need for regulatory documents for submission in support of approval or maintenance of healthcare products
Medical journalism led the application segment in the past due to increasing need for multiple reliable sources of medical information and update on current treatment methodologies in the drug industry
CROs held the majority share of the end use segment in 2018 on account of rapid expansion of CROs in developing economies and increasing cost of drug development
IQVIA; PAREXEL International Corp.; Trilogy Writing & Consulting GmBH; Covance, Inc.; OMICS International; and Freyr Solutions are some of the key companies in the global market

Monday, 2 March 2020

Skeletal Dysplasia Market is Predicted to Register 4.0% CAGR till 2026

The global Skeletal Dysplasia Market size is expected to reach USD 3.6 billion by 2026, according to a new report by Grand View Research, Inc., registering a 4.0% CAGR over the forecast period. Increasing prevalence of this condition, especially in children, and growing adoption of orphan drugs are likely to contribute to the expansion of the market.

Among different disorders, achondroplasia is the most common condition. According to estimates published by the National Human Genome Research Institute in 2016, achondroplasia occurs in 1 in 15,000-40,000 live births. Although there are no current therapies approved specifically for achondroplasia, there are five therapies under clinical development.

Genetic defects attributable to the disorder include spontaneous mutations in the FGFR3 gene. Vosoritide by BioMarin targets inhibition of the FGFR3 pathway and presents a first-in-class drug for achondroplasia. The drug is in phase III clinical trial and is expected to enter the market in 2024. Clementia (Ipsen Group) and Regeneron are other market players targeting disorders such as multiple osteochondromas and fibrodysplasia ossificans progressiva (FOP). Approval of these pipeline therapies with orphan drug status during the forecast period will further support skeletal dysplasia market growth.

The medicines vary depending on the genetic cause of the disorder and only a handful of the disorders, such as XLH and hypophosphatasia, have approved curative therapies, including Ultragenyx Pharmaceuticals’ Crysvita and Alexion Pharmaceuticals’ Strensiq, respectively. Crysvita received FDA approval in 2018 whereas Strensiq received approval in 2015. The sales of Strensiq increased from USD 12.0 million in 2015 to USD 475.1 million in 2018. Higher uptake of these orphan drugs signal growth of the market.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/skeletal-dysplasia-market

Further key findings from the report suggest:

Depending on the disorder, patients develop multiple symptoms ranging from spinal deformities to abnormal dental development. These disorders limit mobility and functional abilities in patients
Commonly occurring deformities in these disorders include abnormal skeletal development that require orthopedic procedures and other interventions to relieve movement obstructions
Early identification is crucial for timely medical management. The treatment for skeletal dysplasia is restricted largely to supportive care
Surgical therapy is the most effective treatment option for achondroplasia type segment of skeletal dysplasia market. There is currently no definitive treatment for FOP. However, a brief course of high-dose corticosteroids, such as Prednisone, may help reduce intense inflammation and tissue swelling seen in early stages.

About Us:
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Oncology Information Systems Market by Forecast to 2025 with Leading Key Players: Elekta AB, Varian Medical Systems, Accuray Incorporated and Others

The global Oncology Information Systems Market size is expected to reach USD 3.4 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.4% during the forecast period. Increasing prevalence of cancer and several initiatives pertaining to cancer research taken by major players are among the key driving factors for market growth.

Increasing investment in the field of oncology are among the factors expected to drive the oncology information system market over the forecast period. For instance, in 2018, Varian announced the acquisition of Noona Healthcare. Noona’s patient software application will help in capturing cancer patient-reported outcomes and facilitate direct communication with the patients. This acquisition will help Varian to boost its oncology software services. General Atlantic a Connecticut based company invested around USD 200 million for launching OneOncology, a company designed for helping community oncology practices with the technology data, innovation and research by leveraging the scale. Thus, these factors are expected to drive the OIS market growth.

Key players are also taking initiatives for developing more advanced OIS with an aim for bringing improvement in the cancer treatment. For instance, Elekta announced investment in PalabraApps LLC for the development of advanced Elekta Clinical workflow mobility and productivity tools. The tools developed through these investments will provide the customers with solutions, which are fully integrated with the Elekta's Mosaiq OIS for addressing the growing need of enhanced clinical efficiency and quality control. Such initiatives are anticipated to propel the oncology information system market during the forecast period.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/oncology-information-systems-market

Further key findings from the report suggest:

In terms of revenue, software segment is estimated to expand at the highest CAGR over the forecast period, attributed to the benefits offered by software, such as streamlining and fine-tuning the patient management and data management processes
Medical oncology is expected to register highest CAGR among application segment over the forecast period owing to the factors, such as increasing usage of chemotherapy, targeted therapy, and hormonal therapy
Asia Pacific is expected to witness the fastest CAGR over the forecast period. Various government initiatives and increasing healthcare expenditure are anticipated to drive the regional growth
Few key players operating in the oncology information systems market are Elekta AB, Varian Medical Systems, Accuray Incorporated, Cerner Corporation, RaySearch Laboratories and Flatiron.

U.S. Medical Device Manufacturers Market is Expected to Boost the Demand & Forecast, 2025

The U.S. Medical Device Manufacturers Market size is expected to reach USD 226.7 billion by 2025, according to a new report by Grand View Research, Inc., registering a 5.0% CAGR during the forecast period. Developing countries offer new investment avenues to global market giants, especially the ones in U.S. Developing healthcare infrastructure and increasing disease burden are driving demand for advanced medical devices in these countries.

Increasing geriatric population in U.S. is one of the major factors driving demand for various medical devices, thereby attracting new entrants into the market. This is anticipated to create a positive environment for entry of new players. They are highly capital intensive in some segments, such as cardiac monitors and oxygen equipment. A significant amount of seed capital is required to set up a manufacturing facility.

In recent years, the imaging equipment segment has witnessed a large number of new product launches and currently has a significant number of products in pipeline. Diagnostic imaging is an important tool for diagnosis of a wide range of chronic as well as acute diseases. Early diagnosis leads to detection of chronic diseases at earlier stages, which helps decrease total healthcare costs.

Product launches, mergers, and acquisitions are anticipated to aid companies in expanding their client base, leading toward market growth. For instance, in March 2017, GE Healthcare acquired Monica Healthcare.In April 2017, Abbott and Alere amended the terms of their merger agreement for the former’s acquisition of the latter. The acquisition is expected to aid in the expansion of Abott’s presence in the global diagnostics industry.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/us-medical-device-manufacturers-market

Further key findings from the report suggest:

The diagnostic imaging segment captured the largest market share in 2017 owing to growing demand for accurate diagnostic solutions
The patient aids segment is anticipated to grow at the fastest rate over the forecast period
Some of the key players in the market are 3M, Abbott Laboratories, Baxter International, Boston Scientific Corporation, B. Braun Melsungen, GE Healthcare, Johnson and Johnson, and Medtronic.
Product launches, mergers, and acquisitions are expected to help companies increase their client base, leading toward market growth.

Hyperspectral Imaging Systems Market is Predicted to Register 10.6% CAGR till 2025

The global Hyperspectral Imaging Systems Market is anticipated to reach USD 17.64 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 10.6% during the forecast period. New product launches coupled with advancements in technology, designs, and features is driving the demand from various fields, such as military, remote sensing, healthcare, mining, vision and optical, and meteorology.

There are certain advantages of hyperspectral imaging, such as the non-requirement of prior knowledge of the spectrum and sample. In addition, it provides extensive information for analyzing and processing the image. These advantages are anticipated to drive investments from market players, which is anticipated to drive the demand during the forecast period. Hyperspectral imaging is being used extensively in the healthcare sector, mainly for ophthalmology, gastrointestinal procedures, tissue diagnosis, fluorescence microscopy, and vascular system imaging. The increasing application can be attributed mainly to its high clarity and accuracy of this imaging method.

Rapid industrialization along with demand for high bandwidth communication is fueling growth of hyperspectral imaging systems market in the forthcoming years. In addition, existing market players are switching to advanced technologies to gain competitive advantage. Rise in R&D and growth opportunities in emerging countries and the aim to maintain international product quality standards is anticipated to drive market expansion.

Affordable electronic circuits and high-speed technologies have cascaded into introduction of advanced sensor technologies. Furthermore, advancements in sensor technologies have improved the image quality, economic efficiency, and reliability of the technical products and thus, are anticipated to fuel the market growth.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/hyperspectral-imaging-systems-market

Further key findings from the study suggest:

Hyperspectral camera is estimated to hold the largest market share in near future due to the recent advancements in sensor development which have led to growth of the camera segment
Military segment accounts for the largest market share due to advancement in data management of hyperspectral imaging along with component fabrication techniques, better accuracy and consistency compared to other conventional imaging techniques
Asia Pacific has been estimated to be the fastest growing region due to the presence of large pool of patients, increasing healthcare awareness, rising government funding for R&D, and upcoming research projects
Major players operating in the hyperspectral imaging systems market include Headwall Photonics Inc.; Resonon, Telops Inc.; Corning Incorporated; Norsk Elektro Optikk AS; Surface Optics Corporation; Bayspec Inc.; Chemimage Corporation; and Applied Spectral imaging.

About Us:

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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com