Healthcare Future Outlook 2023, Insights10

Healthcare Future Outlook 2023, Insights10


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As the entire world healthcare system is recovering from the impact of COVID – 19, it is constantly evolving for providing better patient care and medical services. Advancement in technologies such as AI, cloud computing, robotics, 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.

CATEGORY: Healthcare Services GEOGRAPHY: Global

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In this report on  Healthcare Future Outlook 2023  by Insights10, we have highlighted the key trends, advancing areas of growth and probable setbacks to provide an outlook for the year 2023.
 

Market Overview 

  • Healthcare trends for 2023 involve maximizing the utility of cloud technology, real-world data, digital wearables, artificial intelligence (AI), consumer healthcare, and remote patient tracking
  • Market Drivers: Geriatric population, increased access to healthcare services, advancements in technological innovations, improvement in government policies, increasing prevalence of chronic and metabolic conditions

Future Trends

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
     

Major Innovation & Launches 2023

Genomics England in partnership with the NHS

  • $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
  • 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

Eli Lilly

  • Intends to file regulatory applications for five products, undertake six phase 3 trials, and provide findings from six additional phase 3 trials
  • Planning to file for the mantle cell lymphoma therapy pirtobrutinib and also set for regulatory submission for drugs for CKD and Alzheimer

Healthcare Market Segment

 

Top healthcare market segments to look forward to and why

Remote Healthcare

  • 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
  • Healthcare consumerism is anticipated to grow significantly from 2023 onward
  • Coming forward,  as the insurance companies have begin to cover for home healthcare services, the market is expected to surge substantially

Emerging Tech Solutions

  • 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
  • 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
  • Moreover, improve surgical outcomes and add precision to existing practices

Preventive Healthcare

  • Growing demand of remote care services has led to advancement of patient monitoring devices
  • Furthermore, the increasing use of cloud-based tools to enhance preventative healthcare delivery is fueling market expansion
  • Adoption of different government initiatives substantial research and development (R&D) efforts, and increased public knowledge about preventative approaches

Pharmaceutical

  • Pharmaceutical market is expected to keep growing at a greater pace as more emerging countries take part in providing cheaper production opportunities
  • Rising investments by the key pharmaceutical companies into new clinical trials and R&D to replace conventional therapies with more effective modern medicine
  • Specialty medication is anticipated to level up, affecting the drug prices as they fall

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

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Last updated on: 08 April 2024
Updated by: Dhruv Joshi

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