Population Health Management Market to Register Growth due to Surging Geriatric Population

Owing to the growing prevalence of chronic and lifestyle-associated diseases and rising geriatric population, the demand for personalized medicine is growing as well. Personalized medicine services separate patients into groups and cater to their needs accordingly. With the improved healthcare analytics capabilities and growing understanding of genes, healthcare providers are able to understand the impact of pathogens, possible health outcomes in individual patients, drug responses, and impact of diseases. Its is due to these advantages that the demand for personalized medicine, which, in turn, is driving the requirement for population health management solutions.

The global population health management market size is projected to advance at a substantial pace in the years to come. Population health management aids healthcare organizations in improving healthcare outcomes of a group of patients. The focus is towards a geographic area, a specific medical setting’s patient population, a specific disease, or any other unifying characteristic. This approach makes use of data for uncovering gaps in care, thereby enabling medical settings for developing plans to close the gaps and enhancing health outcomes. The aim of these solutions is to enhance and protect community health via health education, public policy, and injury prevention.

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The surging geriatric population is among the major reasons for the growth of the population health management market. Because of low immunity levels, the aged population requires extensive care. Furthermore, a large number of people aged 60 years and above often suffer from chronic disease, which is why they need to visit hospitals frequently for managing their conditions. Ascribed to these factors, the demand for population health management services is increasing swiftly. Personalized medicine aids in providing better and effective medical care for aged people.

When geography is taken into consideration, North America was the largest use of population health management services and solutions in the past. This can be attributed to the increased healthcare expenditure, surging prevalence of chronic diseases, developed healthcare infrastructure, and favorable government regulations. In the U.S., the demand for these solutions is rising because of the Patient Protection and Affordable Care Act. Other than this, the demand for population health management services is projected to rise in the Asia-Pacific region, owing to the improving healthcare infrastructure and surging geriatric population.

Hence, the demand for personalized medicine is resulting in the rising need for population health management solutions.

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Blood Plasma Product Market Growing due to Increasing Geriatric Population in APAC

The prevalence of bleeding disorders is growing rapidly. Tale for instance the report by World Federation of Hemophilia, which stated that about 304,362 people across the globe are affected by different bleeding disorders, including von Willebrand disease and hemophilia. A bleeding disorder affects the way blood normally clots in human body. The clotting process, which is also known as coagulation, changed blood to a solid state from liquid. The process can be normally witnessed after an injury when the blood start clotting in order to prevent heavy loss of blood. However, some conditions prevent this clotting of blood and can lead to massive or prolonged bleeding.

Bleeding disorders can result in abnormal bleeding both inside and outside the body and can increase the amount of blood leaving the body drastically. Owing to this growing prevalence of bleeding disorders, the global blood plasma product market is projected to advance at a significant pace in the years to come. The fluid part of blood that makes up the bulk of its volume is referred to as plasma. It contains clotting factor proteins that helps in controlling bleeding. These proteins work along with platelets to ensure that blood is clotted effectively. 

Geographically, North America has been the largest blood plasma product market in the past, followed by Europe. The region has been a major domain for blood plasma fractionation, collection, and product formation. Other than this, the demand for blood plasma products is also predicted to increase substantially in the Asia-Pacific region as well. This can be attributed to the growing prevalence of blood disorders and surging geriatric population in the region. 

Report Coverage

·        Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis

·         Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market

·         Porter analysis identifies competitive forces within the market

·         Provides information on the historical and current market size and the future potential of the market

·         Provides sizes of key regional markets using yardsticks of segments

·         Highlights the competitive scenario of the market and major competitors

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Medical Waste Management Needed for Curbing Environmental Contamination

As the number of patients is increasing, along with the growth of the healthcare and pharmaceutical industries, the volume of medical waste is surging as well all across the globe. In developing countries specifically, the volume of medical waste, such as photochemical, cytostatic, infectious, & pathological waste, biological safety cabinets, old X-ray films, chemicals, solvents, old medicines, and slides/paraffin blocks, is extremely high. Moreover, the regulations regarding disposing these wastes are quite strict and state and local regulations comply with labelling, containment, storage, transportation, and treatment of medical waste in a proper manner.

Owing to these factors, the demand for advanced medical waste management technologies is growing swiftly. Poor waste management, when it comes to medical waste, can put staff and employee care at risk and can further affect their patients, families, and neighboring population. Of not managed properly, medical waste can also cause environmental contamination. As per a report by P&S Intelligence, the global medical waste management market is expected to register substantial growth in the near future because of the above mentioned factors.

Medical waste is of two types, namely hazardous and non-hazardous, between which, the demand for medical waste management was higher for non-hazardous waste in the past. Medical waste can be treated chemically, by incineration, and autoclaving. Out of these, the demand for incineration treatment types was the highest in the past, which can be accounted to the fact that this method of medical waste treatment in easy and cost-efficient. Services that are included under medical waste management offerings are treatment & disposal, collection, recycling, and transportation & disposal. When geography is taken into consideration, North America made the most use of medical waste management services and solutions in the past.

In conclusion, the demand for medical waste management technologies is increasing because of the need for proper disposal of surging waste volume from healthcare and pharmaceutical industries. 

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What are Key Factors Responsible for Rapid Progress of Global Regenerative Medicine Market?

The increasing incidence of genetic disorders and chronic diseases is one of the biggest factors responsible for the burgeoning sales of regenerative medicine throughout the globe. The rising adoption of sedentary lifestyles and unhealthy dietary habits of the people all around the world are the main reasons causing the high prevalence of chronic diseases across the world. According to the World Health Organization (WHO), almost 17.9 million deaths are recorded every year because of cardiovascular diseases. Moreover, the cardiovascular diseases account for nearly 31% of the total deaths occurring across the world every year.

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The other major factors propelling the demand for regenerative medicine are the soaring investments being made by the governments of many countries in research and development activities in the domain of regenerative medicine, surging number of regenerative medicine companies throughout the world, and rapid technological developments in tissue engineering areas and stem cell research. Due to these factors, the global regenerative medicine market is expected to exhibit huge expansion over the coming years.

Across the globe, the regenerative medicine market is predicted to record the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This is mainly credited to the improving healthcare facilities and infrastructure in the region and the subsequent rise in stem cell research in the developing nations of APAC. For instance, the Chinese government has recently approved R&D activities pertaining to the human embryonic stem cells, which has in turn, encouraged more research on the clinical potential of the stem cells in the country.

Hence, it can be concluded that the sales of regenerative medicines will surge all over the world in the years to come, due to the rising prevalence of genetic disorders and chronic diseases, soaring geriatric population, and rapid technological advancements in stem cell therapy.

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How is Rising Prevalence of Kidney Diseases Driving Apheresis Market?

The prevalence of kidney diseases across the globe has been increasing at a rapid pace. Some of the major risk factors for kidney diseases are human immunodeficiency virus, malaria, diarrhoeal diseases, low birth weight, and preterm birth. As per the World Health Organization, about 1.2 million people died due to kidney failure in 2015. Furthermore, an estimated number of 5–10 million people die each year because of kidney failure around the world. Chronic kidney diseases result in hospitalization, poor life quality, and cognitive dysfunction. Since apheresis therapies are utilized for the treatment of kidney diseases, their demand has been increasing swiftly.

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Under the apheresis procedure, whole blood from a patient or donor is removed, which is then separated into individual components in order to remove one particular component. The remaining components are later re-introduced into the bloodstream of the donor or patient. This medical procedure is also utilized for collecting donor blood components, including plasma or platelets, along with treating diseases, such as kidney diseases. Owing to these factors, the global apheresis market is expected to advance at a significant pace in the years to come.

Geographically, North America has been the major user of apheresis systems up till now, which is because of the increasing number of cancer cases, renal & liver failure, and heart diseases. For example, as per a 2018 study by the Centers for Disease Control and Prevention, owing to sedentary life, over 647,000 people die in the U.S. each year. Other than this, the demand for apheresis is expected to increase significantly in Asia-Pacific, thereby making it the fastest-growing apheresis market in the coming years. This is owing to technological advancements and rising health concerns in the region.

In conclusion, the demand for apheresis systems is growing due to the surging number of kidney diseases across the globe.

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What are Main Factors Causing Growth of Global Health Information Technology (IT) Security Market?

The increasing prevalence of healthcare data breaches and advanced cyber attacks is one of the major factors boosting the adoption of information technology security solutions in the healthcare industry. Moreover, there has been a surge in the utilization of interconnected medical devices over the last few years and this has significantly pushed the adoption of health IT security services and solutions as they play a major role in ensuring the safety of the health data and information imparted to the medical practitioners and patients from various smart devices.

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The other major factor fuelling the rise in the demand for health IT security solutions is the surging usage of mobile devices, on account of the rising implementation of the bring your own device (BYOD) policy in various healthcare settings. Due to these factors, the valuation of the global health information technology (IT) security market is expected to rise substantially over the coming years. The market is predicted to register considerable growth in the forthcoming years.

Globally, North America observed the highest adoption of health IT security solutions in the past. This is primarily attributed to the high prevalence of data breaches and the presence of strict policies and regulations regarding data privacy in the region. However, the health IT security market is predicted to register the fastest growth in the Asia-Pacific (APAC) region in the years to come, on account of the rising awareness about IT security and soaring usage of connected medical instruments in the region. 

Thus, it can be said without any hesitation that the demand for health IT security solutions will escalate considerably in the forthcoming years, mainly because of the increasing incidence of health data breaches and cyber attacks in the healthcare industry and the increasing utilization of interconnected medical devices all over the globe.

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Why is Smart Home Healthcare Market Expected to Register Rapid Expansion in Asia-Pacific in Future?

The increasing demand for personalized healthcare solutions is one of the main factors driving the progress of the smart home healthcare market. The various smart home healthcare technologies such as mobile health (mHealth) and internet of things (IoT)-based monitoring and tracking systems help tremendously in providing diagnosis and treatment and care services to the patients, while they are at home. Moreover, these advanced healthcare solutions enhance the communication between the medical practitioners and the patients. Furthermore, an integrated sensor network improves the quality of healthcare by allowing clinical decision making and providing computerized patient safety practices.

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The increasing need for reducing the costs of medical treatment is another crucial factor boosting the growth of the smart home healthcare market across the globe. The adoption of IoT in healthcare solutions is not only enhancing the quality of patient care and treatment but also reducing the treatment costs by allowing the provision of personalized healthcare solutions at home. Moreover, these healthcare systems play a major role in improving the overall disease management.

Geographically, the smart home healthcare market is expected to register the fastest growth in Asia-Pacific (APAC) during the forecast period. This is attributed to the soaring geriatric population and the rising awareness amongst the people in the region about the advanced and innovative applications of smart home-based wireless sensors. In addition to this, the increasing number of patients and the surging life expectancy of people are predicted to generate huge investments in healthcare information technology (IT) solutions, which will in turn, propel the growth of the smart home healthcare market in the region in future.

Hence, it can be concluded that the adoption of smart home healthcare solutions will escalate all over the world in the years ahead, mainly because of the increasing integration of advanced technologies such as IoT in the healthcare industry and the burgeoning demand for personalized healthcare solutions across the world.

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How is COVID-19 Situation Affecting Process Analytical Technology Market?

Due to the growing population, which is susceptible to a wide array of diseases, the pharmaceutical industry has been growing steadily over the last decade or so. For instance, as per McKinsey, compared to the 9% CAGR the Indian pharma sector displayed in 2000–2005, it has been growing at an almost 14% CAGR since the last five years. The growth in developed nations has also been rather consistent, owing to the increasing disposable income of people, which is leading to high medical drug sales. Moreover, since drugs can have serious side-effects, the production process is constantly monitored and controlled.

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This is the primary reason for the expansion of the process analytical technology (PAT) market, as it is via this methodology that the manufacturing process of pharmaceuticals is tracked. During the process, several key performance parameters (KPP), which are essentially the factors that can affect the drug production process, are tracked, so the key quality attributes (KQA), which are basically the drugs’ desirable properties, are maintained. The major reason behind the surging adoption of PAT is the increasing investments in pharmaceutical research and development (R&D).

Currently, the world’s biggest problem is the COVID-19 pandemic, which, since beginning in December 2019, has claimed more than 320,000 victims around the world, as of May 19, 2020. The biggest problem with the disease is that since it is caused by a virus, it has no cure! Therefore, the whole world is currently hell bent on finding a suitable therapy, which is why a number of drugs are being tested and many more discovered. With more companies entering the race to find an effective antiviral, the use of PAT is bound to mushroom quickly in the immediate future.

Presently, North America is the largest contributor to the process analytical technology market, on account of its advanced healthcare infrastructure, presence of a large number of PAT solution providers, and stringent Food and Drug Administration (FDA) guidelines and regulations. Moreover, the continent has been the worst affected by the coronavirus pandemic, with the U.S. alone reporting over 1.5 million cases and more than 91,000 deaths, as of May 19, 2020. This is why the drug development and testing activities are rising at a rapid rate in the continent.

Thus, as the number of pharma companies rises, to cater to the growing demand for medication, the usage of PAT will increase too.

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What are Major Factors Causing Boom of Global Organ Preservation Market?

The increasing number of surgical implantation and transplantation procedures and rising prevalence of liver and kidney failure cases are some of the major factors fuelling the surging need for cryopreserved organs all over the world. For instance, as per the United Network for Organ Sharing (UNOS), the number of living donor transplants increased from 6,992 to 7,397 from 2004 to 2019. Furthermore, there has been a sharp increase in organ transplants over the last 15 years, as per an article published in the Nephrology News and Issues Portal.

Powered by the above-mentioned factors, the global organ preservation market size is predicted to register huge progress in the forthcoming years. Organ preservation can be, basically, defined as a process by which the organ is preserved by keeping it in a place having controlled environmental conditions. According to the current scenarios, kidney, pancreas, and liver can be preserved for upto two days by infusing them in the University of Wisconsin (UW) organ preservation solution and then storing them at a temperature range of 0—5°C.

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Geographically, North America is currently observing the highest rate of organ preservation. This is mainly credited to the presence of a large number of well-established organ preservation facilities in the region. For instance, there were 312 organ transplant facilities in North America by the end of 2016. Furthermore, 19,355 patients underwent successful kidney transplant procedures in the various facilities in North America during 2016. However, the organ preservation market is expected to register the fastest growth in the Asia-Pacific (APAC) region in the years to come.

Therefore, it can be said with certainty that the demand for organ preservation procedures will shoot-up across the world over the coming years, mainly because of the increasing incidence of liver and kidney failure cases and surging number of surgical implantation and transplantation procedures throughout the world.

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