Ambulatory EHR Market Size, Key Players, Segments Analysis and Forecast to 2023

The growing use of electronic health records and need for reducing the overall healthcare cost are two of the key factors behind the prosperity of the ambulatory EHR market. In the year 2016, the market generated a revenue of $4.0 billion, and it is predicted to attain a value of $6.0 billion by 2023, progressing at a CAGR of 5.9% during the forecast period (2017–2023).

Ambulatory EHR is a record of a patient’s medical history, which is stored in an electronic database that is accessible by doctors and other medical professionals anytime from anywhere. Based on delivery mode, the ambulatory EHR market is bifurcated into cloud-based and on-premises solutions. Of these, during the historical period (2013–2016), the cloud-based solutions bifurcation led the market in terms of revenue, and it is predicted to continue leading it during the 2017–2023 period. This is attributed to the cost-effectiveness of cloud-based solutions as compared to on-premises solutions.

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As per the data reported by the Office of the National Coordinator for Health IT, a company that implements the usage of electronic exchange of health data and upgraded health information technology, nearly 94.0% of regional extension centers (REC) registered as Priority Primary Care Providers (134,978 providers) had an EHR and were continuously deploying the technology. Further, more than 77.0% of the total REC-enrolled PPCPs (110,107 providers) had showed meaningful use of certified EHR technology (CEHRT) in e-prescribing, clinical quality reporting, and medical reconciliation.

The lack of communication between healthcare professionals and patients adversely impacts the cost and quality of healthcare, leading to the fragmentation of healthcare information, such as medical and diagnosis history, billing and administrative data, patient demographics, and medication schedule. The increasing demand for the availability of a patient’s entire healthcare data in one place is predicted to accelerate the adoption of advanced, integrated healthcare systems during the forecast period, which will continue to aid the ambulatory EHR market progress.

Hence, the reducing overall healthcare cost and rising deployment of EHR solutions are projected to boost the growth of the market.

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Healthcare Insurance Market Overview, Share, Growth Drivers and Forecast to 2024

The global healthcare insurance market is projected to contribute a revenue of $2.2 trillion by 2024. Increasing prevalence of chronic diseases, rising geriatric population, growing GDP and healthcare expenditure, and high medical costs are driving the progress of the sector. Healthcare insurance is a kind of insurance that covers surgical and medical expenses, which is directly paid to healthcare providers for the treatment of an insured individual. The policy holder can pay the premium monthly or annually on their discretion.

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Based on coverage type, the healthcare insurance market is categorized into lifetime and term coverages. Out of these, in 2018, the term coverage category contributed a revenue of $1.3 trillion and is expected to be the faster-growing category, advancing at a CAGR of 4.7% in the analysis period. Term coverage is a fixed-term policy, which provides benefit upon the death of an insured individual. Due to the benefits associated with term coverage, such as low-cost premium and receipt of a lump sum amount when the term ends, the category is predicted to progress.

Now, when segmented by insurer type, minors, adults, and senior citizens are the divisions of the healthcare insurance market. Out of these, insurance plans for adults are anticipated to dominate the market across the globe. In 2018, adults generated a revenue of nearly $0.9 trillion for the market, which is projected to reach $1.2 trillion by 2024. On the other side, the minors category is expected to witness slower growth, advancing at a CAGR of 2.9% in coming years, owing to the fact that minors are dependent on adults and mostly covered in the insurance plans for grown-ups.  

Currently, the world is experiencing a significant rise in the geriatric population. In 2017, according to the World Population Prospects report published by the United Nations, geriatric population is predicted to grow faster as compared to the that of other age groups. The report states that there were 962 million people aged 60 years and above in 2017, globally, and this number is estimated to reach 1.4 billion by 2030, 2.1 billion by 2050, and 3.1 billion by 2100. This is further expected to result in the growth of the healthcare insurance market, as more aged people will lead to more plans being sold.

Hence, with the increase in the geriatric population across the globe, the demand for healthcare insurance plans is expected to rise.

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E-Prescribing Market Outlook, Growth Prospects and Key Opportunities

E-Prescribing system facilities the practitioner to generate a new prescription electronically whenever treatment error occurs during healthcare operations. E-Prescribing system offers extensive range of applications. It provides comprehensive form of medical data, ensures all security checks and patents identification. It offers complete privacy to the disease information and patient’s identification with present and historical data.

Based on the different product type the global e-prescribing market can be broadly classified as, stand-alone systems, and integrated systems. Based on the different components of electronics prescribing the global e-prescribing market can be segmented as software and hardware (including access devices, peripherals, servers, storage devices, and networking devices) and services (including consulting, implementation services, post-sale & maintenance and training services). On the bases of mode of the delivery of the e-prescription the global e-prescription market can be classified as on premise, web-based and cloud. Further, based on the end user application the market can be segmented as hospitals and office-based physicians.

Europe was the largest market of e-prescription in 2013, followed by North America and Asia Pacific region. The market of e-prescription in Middle East, and Africa are in nascent stage. Asia Pacific and North America are two of the fastest growing market of the E-prescription. Country wise, U.S. is the largest market of e-prescription in North America. Germany, Italy, and Spain are some of the major market of e-prescription in Europe. In Asia Pacific, China, Japan, and India are fastest growing market of e-prescription attributed mainly to the strengthening healthcare services and advancement of the information technology in this region.

Major Competitors: The global e-prescription market is dominated by Bioclinica, Inc., Bizmatics Inc., CRF Health, DATARAK International, Inc., eResearch Technology, Inc., Some of the top competitors in the global clinical trial management system market are e-MDs, Inc., iMedX, Inc., Practice Fusion, Inc., SureScripts-RxHub, LLC, eClinicalWorks, LLC, and Quality System, Inc.

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Technological Advancements Strengthening Cleanroom Technology Market

The favorable healthcare regulations, rapid developments in technology, and surging prevalence of infectious diseases are some of the key factors responsible for the growth of the cleanroom technology market. In 2016, the market attained a size of $3.4 billion, and it is expected to generate a revenue of $5.0 billion by 2023, progressing at a 5.7% CAGR during the forecast period (2017–2023). A cleanroom is an enclosed space, which is built to prevent harmful substances released by various airborne particles, including microorganisms, chemicals, and harmful radiations, such as ultraviolet rays, from polluting the space.

Based on end user, the cleanroom technology market is categorized into medical device, biotechnology industry, and pharmaceutical industry. Out of these, in 2016, the pharmaceutical industry held the largest revenue share of more than 40.0% in the market, and it is predicted to continue leading it during the 2017–2023 period. This is attributed to the expanding biopharmaceutical sector, which is accelerating the manufacturing of pharmaceutical products across the globe. As per the United States Food and Drug Administration, it is essential to implement specified guidelines for all food and pharmaceutical industries.

The global cleanroom technology market has been witnessing various technological developments, which are helping in improving the efficiency of cleanrooms with the high production of advanced sterile products. These upgraded products aid in providing a cleaner environment to manufacture products. Also, these developments help in minimizing the defects in cleanroom designs and workflow, which is further predicted to surge the demand for cleanrooms. Technological developments in equipment, such as heating, ventilation, and air conditioning systems and high-efficiency particulate air (HEPA) filters, offer better functionality of cleanrooms.

HEPA filters absorb nano-sized toxic compounds and improve the filtration process, which reduces the time taken for purifying the area. Additionally, the presence of modular cleanrooms, which are enclosed structures equipped with all devices, is expected to surge the production of cleanrooms, globally. In addition, customized cleanrooms are rapidly gaining popularity in the cleanroom technology market. Pressure, temperature, electrostatic charge, humidity, and magnetic flux can be modified as per customers’ need in a customized cleanroom. These cleanrooms are essential for research and development activities in the medical device, pharmaceutical, and biotechnology sectors.

Hence, the surging incidence of infectious diseases, technological advancements, and growing demand for customized cleanrooms are driving the growth of the market.

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mHealth Market - Business Opportunities and Investment Research Report 2023

The global mHealth market is being driven by the increasing penetration of tablets and smartphones, and growing adoption of connected healthcare devices and mHealth apps. Rising geriatric population prone to chronic diseases, increasing focus on patent-centric healthcare, and growing demand for remote patient monitoring are also helping in this regard. Generating a revenue of $23.0 billion in 2017 as per a P&S Intelligence study, the market is predicted to advance through the forecast period 2018–2023 at a CAGR of 33.5%!

mHealth refers to the collection of medical data and delivery of healthcare services via mobile phones and tablets. On the basis of offering, the mHealth market can be divided into mHealth apps, connected devices, and services. Among these, the connected devices category led the market in 2017 with 57.2% share, due to a growing demand for remote patient monitoring solutions. In places, where people’s houses and healthcare centers are distant, these collect patients’ medical data and send it to medical practitioners via the internet, thus allowing for real-time disease management and improved patient outcomes.

Among the several types of connected devices available are blood pressure monitors, blood glucose monitors, multiparameter monitors, echocardiography (ECG) monitors, sleep apnea monitors, pulse oximeters, and others. In 2017, blood pressure monitors held the largest revenue share (28.7%) in the mHealth market owing to an increased prevalence of chronic disease and the easy mobility of such devices. While blood pressure monitors will still be the market leader during the forecast period, blood glucose monitors will witness the highest CAGR (31.9%) due to the increasing number of diabetes patients.

By recording and sharing medical data, connected devices and mHealth apps also lower the healthcare expenditure by minimizing hospital readmissions, clinic revisits, medical tests, and other physical examinations. A study, conducted by New York University, Harbin Institute of Technology and Carnegie Mellon University between 2015 and 2016, showed that mHealth helped reduce the glycated hemoglobin and blood glucose levels, hospital visits, and medical expenses of type 2 diabetes patients.

Therefore, it is clear that the growing prevalence of chronic diseases and the need to reduce healthcare costs will take the domain forward.

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Top Key Players Operating In the Population Health Management Market and Growth Strategies

The population health management industry size is set to cross $48.1 billion by 2022. The growing geriatric population, increasing prevalence of chronic diseases, Affordable Care Act, increasing investments by HIT players and increasing healthcare spending are driving the growth of the PHM market.

The market for PHM in the European region is expected to cross $4.7 billion by 2022. The major factors driving the growth of the European population health management market include increase in demand for reducing healthcare cost, high prevalence of chronic diseases and increasing government initiatives. Aging population is another key factor driving the growth of the population health management industry in the region. The geriatric population is more susceptible to acquire diseases and hence, is at a higher risk of suffering from chronic diseases. Among the countries of the European region, Germany was the largest market for PHM, which is expected to grow at a CAGR of 22.8% during the forecast period to reach $1.5 billion by 2022.

Global Population Health Management Market Segmentation

By Delivery Mode

• Web based
• Cloud based
• On-premise

By Component

• Software
• Service

By End User

• Healthcare provider
• Healthcare payer
• Employer group
• Government bodies

By Geography

• North America
• U.S.
• Rest of North America
• Europe
• U.K.
• Germany
• Rest of Europe
• Asia
• Japan
• Rest of Asia
• Rest of the World (RoW)

Emerging economies offer huge market potential

Although, the population health management market is largely concentrated in the U.S., emerging economies such as China, India and Brazil offer ample growth opportunities. Huge unexplored market in the Asia and other developing regions create huge revenue generation opportunities for PHM vendors. The healthcare industry is witnessing significant growth in these countries. In addition, the large population base and improving healthcare infrastructure create suitable platform for the penetration of PHM in these countries.

Competitive Analysis

Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions Inc., Wellcentive Inc., Conifer Health Solutions LLC., IBM Corporation, Optum, Inc., and Health Catalyst LLC are some of the key companies operating in the population health management market.

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Biotech News: Protein Expression Market to Grow at a Brisk Rate in the Foreseeable Future

A recent research report published by P&S Intelligence on the protein expression market predicts that the market will have a healthy growth for the next few years. According to the report, the size of the protein expression market is projected to reach $3.0 billion by 2023. Increasing prevalence of chronic diseases, aging population, increase in growth in life science sector, availability of funding for protein-based research and technological advancements are key drivers for the growth of market.

Recombinant production of proteins is one of the most powerful molecular biology techniques used in the life sciences sector for its industrial application in producing biopharmaceuticals. The ability of producing abundant volume of purified and desired recombinant protein leads to its extensive potential application such as, in industrial processes, or its use to diagnose or treat diseases. Increase in research to understand efficient expression of novel and difficult proteins through protein and cell line engineering is an essential step to support future drug discoveries. A major prerequisite for drug discovery is that recombinant proteins can be produced in adequate amount and are of appropriate quality. Major players are focusing on expanding their research activities and investing on recombinant based protein expression for production of large volume of recombinant protein to be used as biotherapeutics and are also to support drug discoveries.

Geographically, the Asia-Pacific protein expression market has been experiencing growth due increasing prevalence of diseases such as anaphylaxis and diabetes, increasing aging population, increased R&D spending, and increasing per capita income. According to International Diabetes Federation, China, India, Brazil, Bangladesh and Indonesia are the top five countries with high number of diabetic patients and have emerged as a potential market for protein expression.

The global protein expression market is highly consolidated as the top three companies constitute for two-thirds of the overall market share in 2016. ThermoFisher Scientific Inc., Merck KGaA and Agilent Technologies led the global market in 2016. ThermoFisher Scientific Inc. held almost one-third of the global protein expression market share in 2016, primarily due to the availability of protein expression products as prokaryotic, mammalian, insect cell, yeast, cell free and algae-based systems. Merck KGaA was the second largest player in global protein expression market in 2016. There is stiff competition among Promega Corporation, New England Biolabs Inc. and Takara Bio. Inc. in the global market as only these companies market cell-free based protein expression systems. 

Other major players in the market are Qiagen N.V., Lonza Group Ltd., Genscript Biotech Corporation, New England Biolabs Inc. and Bio-Rad Laboratories, Inc.

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Rising Number of Surgical Procedure Supporting Fibrin Glue Growth

The fibrin glue market is projected to grow during the forecast period (2017–2023) at a CAGR of 10.9% owing to the surging number of burn cases and surgical procedures and increasing healthcare expenditure. In addition, the growing prevalence of chronic diseases, increasing geriatric population, and rising road accidents are supporting to market advance. Fibrin glue is a kind of tissue adhesive extracted from a human or animal source, which is primarily used for healing wounds, coagulating the blood, tackling hemorrhage, and sealing tissues.

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Geographically, during 2013–2016, North America led the fibrin glue market, with the U.S. being the larger contributor compared to Canada. The increasing prevalence of cardiovascular diseases is a prime reason behind the growth of the North American market for cardiac surgery. In addition, the rising number of surgical procedures, mainly plastic surgery, in the region, surging aging population, high expenditure on healthcare, and significant number of burn cases and road accidents are boosting the use of fibrin glue.

As per the American Heart Association, in the U.S., nearly 85.6 million people are suffering from cardiovascular diseases. Further, the growing healthcare spending is being witnessed as the key factor driving the growth of the fibrin glue market. The healthcare expenditure includes the public and private spending on medical goods and services, public health and prevention programs, and administration. As per the Centers for Disease Control and Prevention (CDC), in the U.S., in 2014, the total health expenditure was $3.0 trillion and the per capita national health expenditure was $9,523.

European fibrin glue market is the second largest in the world

Europe is the second largest market for fibrin glue products, accounting for 24.4% of the global fibrin glue industry in 2016. The growth in the European fibrin glue market is mainly attributable to the increasing aging population and rising number of surgical procedures performed for the treatment of the circulatory system diseases in the region. Among the countries in Europe, Germany held the largest share of the European market for fibrin glue, contributing 26.2% in 2016. However, the market in France is expected to witness the highest growth during the forecast period. France was also the second largest market for fibrin glue products in 2016 in Europe, accounting for a 14.6% share, which is expected to increase to 15.5% by 2023, growing at a CAGR of 10.7% during the forecast period. The U.K. is the third largest market in Europe and is also expected to witness double digit growth during the forecast period.

Competitive Analysis

Vivostat A/S, Kaketsuken, Johnson & Johnson, Baxter International Inc., CSL Behring, Zimmer Biomet Holdings, Inc., Takeda Pharmaceutical Company Limited, Mallinckrodt Plc, Shanghai RAAS Blood Products Co. Ltd. and Hualan Biological Engineering Inc are Some of the key players operating in the global fibrin glue market.

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Molecular Biology Kits and Enzymes & Reagents Market Forecast to 2022

The surging aging population and growing prevalence of infectious diseases are heavily accelerating the demand for molecular biology products, thereby resulting in the growth of the molecular biology kits & reagents and enzymes market. In 2015, the market generated revenue of $4,928.3 million, and it is expected to advance at a CAGR of 17.2% during the forecast period (2016–2022). Molecular biology kits, reagents, and enzymes are used to perform RNA analysis, cloning, protein analysis, DNA isolation, polymerase chain reaction (PCR), and DNA sequencing.

Based on product, the molecular biology kits & reagents and enzymes market is bifurcated into kits & reagents and enzymes. Of these, during the historical period (2012–2015), kits & reagents dominated the market in terms of revenue, and these are predicted to maintain their dominance during the 2016–2022 period. This is attributed to the high demand for such products owing to the surging research applications, growing geriatric population, and increasing healthcare expenditure. Kits and reagents are adopted for automated processes, but these can also be used manually for several research purposes.

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This population is predicted to surge by 56.0% globally, i.e. from 901 million in 2015 to 1.4 billion by 2030 and more than double after 2015 to reach 2.1 billion by 2050. The surging elderly population in Germany, the U.S., China, and India is projected to create a high demand for molecular biology enzymes, kits and reagents, which, in turn, would result in the growth of the molecular biology kits and reagents and enzymes market.

Furthermore, due to the rapid growth in the number of people suffering from cancer and infectious diseases, the demand for such products is on the rise. The prevalence of acquired immune deficiency syndrome, hepatitis C, and healthcare-associated infections is expected to grow during the forecast period owing to poor lifestyle and lack of access to preventive care. In 2014, in the U.S., as per the American Cancer Society, nearly 484,340 new cases of cancer were registered in people aged 65 years and above.

Thus, the rising incidence of cancer and infectious diseases and surging geriatric population are contributing to the growth of the market.

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At-Home Drug of Abuse (DOA) Testing Rescuing Addicts from the Shadows

Nowadays, drugs are as much a cause for concern as, say, terrorism or global warming. Cannabis, cocaine, heroin…there are so many drugs available across the world and that too with relative ease. What is disheartening is that despite rising awareness and government efforts, the number of drug users doesn’t seem to be falling fast. As per a report published by the United Nations Office on Drugs and Crime (UNODC), the worldwide number of drug users remained almost stable in 2016. All this has resulted in the emergence of drug testing products that help in the effective detection of drugs in users’ body, hence driving the growth of at-home drug of abuse (DOA) testing market.

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The major factors assisting in the growth of the market are rising addiction among teenagers and increased manufacturing and trade of such substances. As per the UNODC report cited above, Afghanistan was the major contributor to global drug production in 2017, where the total opium cultivation area and amount of produce rose rapidly in the past few years. Apart from production, family issues, peer pressure, and reduced self-esteem are resulting in increased drug addiction among teenagers, enhancing the scope for the at-home drug of abuse (DOA) testing market worldwide.

In an endeavor toward timely detection of drugs for teenagers to receive effective counseling and treatment, educational institutions and families are spending more on testing instruments, which is, in turn, driving the growth of at-home drug of abuse testing market. Rapid DOA test kits and breath analyzers are the two broad categories of the market by type. Of the two, rapid DOA test kits are more commonly used at homes and colleges.

Geographically, the North American continent occupies the largest at-home drug of abuse testing market share, primarily owing to the increasing incidence of drug trafficking and easy availability of these substances in the region. As far as specific drug types are concerned, bath salts and synthetic cannabinoids are the preferred means to get high; therefore, the major players in the domain are specially focusing on these. Companies in the market are coming with innovative products that help in the detection of these particular substances along with other illicit drugs. For instance, UCP Biosciences Inc. announced the launch of its u-Cup DOA testing cups in 2018. It also announced that these would be available in various sizes and shapes.

Seeing the rapid growth in the sector, it is being hoped that intoxication by drugs is caught early in troubled teenagers and that they receive all the emotional and therapeutic support they require.

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Patient Engagement Solutions Market Size is Expected to More than Double by 2023

Value-based programs, increasing geriatric population, and government regulations on patient-centric care are driving the growth of the patient engagementsolutions market across the world. Having already generated over $8 billion in 2017, the market size is expected to more than double by 2023. The communication between patients and healthcare providers is generally referred to as patient engagement. The market includes all software and hardware that facilitate this communication and the services imparted via these.

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Government regulations on patient-centric care have been one of the major growth-driving factors for the patient engagement solutions market. For instance, the U.S government, under its EHR Incentive Programs of 2009, offers healthcare professionals incentives to implement electronic healthcare records (EHRs). Apart from storing patient data digitally, patient engagement solutions are also required for implementing value-based programs. The demand for such programs is rising, as these benefit patients as well as healthcare providers. 

Another significant factor contributing to the market growth is the growing geriatric population, which is more prone to chronic diseases. As these diseases need constant monitoring, especially in the case of elderly patients who cannot make regular hospital visits, patient engagement solutions have become indispensable for their effective health management. Further, as people have become more tech-savvy, wearable healthcare devices are registering increased sales. These devices are replacing hospital visits, taking the patient engagement solutions market forward.

Within APAC, patient engagement solutions are expected to be utilized the most for chronic diseases, compared to other therapeutic areas that include women’s health, mental health, and fitness. Further categorizing chronic diseases, cardiac issues and cancer will contribute the largest revenue to the patient engagement solutions market during the forecast period. Among on-premises, cloud-based, and web-based solutions, those that connect patients and doctors via cloud will register the fastest growth in the market.

Thus, it can be said that while advancements in patient engagement solutions technology and increased government support toward their adoption are important factors driving the market growth, the rise in geriatric population and incidents of chronic diseases cannot be ignored.

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Mass Spectrometry Market is Growing Rapidly in Life Science and Clinical Sector

The demand for mass spectrometry is growing rapidly in life science and clinical sector. Some of its most common applications in life science and clinical studies are determination of protein structure, interactions and folding; protein identification from the mass of its peptide fragment; relative or absolute quantification of proteins in a given sample; monitoring of enzyme reactions; chemical modifications; protein digestion; forensic analysis; and disease biomarkers detection. All these applications are very vital in life science and clinical studies and with increasing healthcare awareness, advanced research and development, increasing cases of drug abuse, and high number of metabolic diseases, the demand for mass spectrometer is rapidly growing. Mass spectrometer is an important analytical tool for the study of proteins. Proteomics is very difficult to analyse and study, due to the complexity of its structures. Mass spectrometry helps to analyse the composition of different biological samples and offers quantitative proteogenomics and proteomics. All these factors tend to drive the growth of the mass spectrometry market.

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Europe had the second largest share in the mass spectrometry market in 2015, with 26.0% share. Increasing food safety concern, growing demand in life science & clinical analysis sector and technological advancements are the key growth drivers of the European market. High compliance with international GMP & GDP certification for pharmaceutical excipients has high positive impact on the European market for mass spectrometry. Forensic science and new product development offer ample growth opportunities for the European market.

Germany held the largest share (23.4%) in the European mass spectrometry market in 2015. The major factors driving the growth of the German market are high healthcare expenditure, increasing research and development for drug discovery, increasing demand for clinical testing and increasing environment applications.

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The key companies operating in the mass spectrometry market include Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Bruker Corporation, Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., LECO Corporation, Dani Instruments S.p.A, Protea Biosciences Group Inc., Microsaic Systems PLC, Endress+Hauser Inc., Jeol USA Inc., and Elico Ltd.

GLOBAL MASS SPECTROMETRY MARKET SEGMENTATION

By Platform

• Hybrid Mass Spectrometry
• Triple Quadrupole Mass Spectrometry
• Quadrupole Time-of-Flight (Q TOF) Mass Spectrometry
• Fourier Transform Mass Spectrometry (FTMS)
• Single Mass Spectrometry
• Quadrupole Mass Spectrometry
• Ion Trap Mass Spectrometry
• Time-of-Flight (TOF) Mass Spectrometry
• Other Mass Spectrometry

By Application

• Drug discovery and development
• Proteomics
• Clinical Testing
• Environment
• Others

By End User

• Pharmaceuticals
• Life science and Biotechnology
• Academic and Research Institute
• Hospitals
• Others

By Geography

• North America - U.S., Canada, and Rest of North America
• Europe - Germany, France, U.K., Italy, Spain and Rest of Europe
• Asia - China, Japan, India, and Rest of Asia
• Rest of the World - Brazil, Australia and Others

Source: P&S Intelligence

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Medical Coding Market Projected to Have a Stable Growth for the Upcoming Years

The global medical coding market is expected to expand during the forecast period, mainly on account of rising number of patients suffering from diseases, increasing number of patients visiting hospitals, implementation of information technology (IT) in healthcare settings, and adoption of medical coding for health insurance claim management. Rising occurrence of insurance frauds and insurance issues associated with misinterpretation of medical documents are also responsible for driving the demand of medical coding services, especially in developed countries.

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Medical coders convert medical reports from doctors, which may include a patient’s condition, the doctor’s diagnosis, a prescription, and procedures the doctor or healthcare provider performed on the patient, into a set of codes, which make up a crucial part of the medical claim.

Geographically, North America leads the medical coding market. The market in Asia-Pacific is anticipated to exhibit lucrative growth during the forecast period, owing to developing healthcare facilities and booming medical tourism in countries, such as China, India, Malaysia, and Thailand.

Increasing number of patients visiting hospitals and the implementation of IT for managing the large amount of patient database is expected to boost the medical coding market growth in the future. According to the National Health Interview Survey, 2016, 92.7% children had contact with a health care professional in the previous year, which signifies the high amount of database generated that needs to be managed by the use of medical codes.

Ongoing partnerships and collaborations in the industry are expected to increase the market share of the key players in the coming years. For instance, in January 2017, Aviacode Inc., a medical coding and compliance services company acquired the assets of Florida-based Revant Solutions, a provider of coding outsourced services.

Other competitors operating in the global medical coding industry are STARTEK Health, Parexel International Corporation, Maxim Health Information Services, Oracle Corporation, Aviacode Inc., Verisk Analytics Inc., Nthrive Solutions LLC and Medical Record Associates LLC.

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Mental Health Software Market Insights, Share, Growth Drivers and Future Scope

The global mental health software market is growing significantly, due to high potential of subscription model. During the forecast period, the providers segment is expected to hold the largest share, among all the end user segments of the global mental health software market, due to its extensive use for maintaining patient records and management revenue cycle. However, the residential segment is expected to grow with the highest rate during the forecasted period, due to increasing use of behavioral/ mental health solution by patients in their homes for better self-care. Among the various delivery models of mental health software, the subscription model segment is expected to grow with the faster rate, as it is user friendly and cost effective. Moreover, the support services led the component segment of the market, due to recurring requirement of these services for software up-gradation and management.

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The unexplored market in the mental health software industry of the developing economies is creating growth opportunities for the mental health software market. Some of the major trends in the global market are growing product innovation, increasing number of collaborations and partnerships, and increasing number of mergers and acquisitions. The mental health software helps behavioral health professionals to plan treatment for patients suffering from mental problems, such as depression, addiction, stress and anxiety. The software helps user to facilitate medical bills and schedule online appointments.

Geographically, North America is expected to dominate the global market in the coming years, due to increasing government support and increasing patient base seeking behavioral services. Asia is expected to be the fastest growing region, due to increasing healthcare expenditure and increasing government initiatives and support within the region. In addition, the market in Asia is growing, due to increasing awareness about mental health software in the emerging countries, such as India and China.

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Some of the companies operating in the global mental health software market are Epic Systems Corporation, McKesson Corporation, Cerner Corporation, MindLinc, Allscripts,The Echo Group, Netsmart Technologies Inc., Qualifacts Systems Inc., Practice Fusion, General Electric Company, eClinicalWorks, Core Solutions Inc., Welligent Inc., and Valant Inc.

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Health IT Security Market 2019 - Recent Study Including Growth Factors, Applications and Forecast till 2024

The global health IT security market is witnessing considerable growth due to stringent regulatory requirements and interconnected medical devices. Since the usage of interconnected medical device is continuously increasing, health IT security would play a major role in the safety of health information assembled and imparted from various smart devices to patients and care givers.

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Moreover, increasing use of mobile device, due to greater adoption of bring-your-own device policy, is supporting the growth of the market. The adoption of health IT security across the globe is increasing, owing to increasing number of healthcare data breeches. The market for healthcare IT security services segment is expected to grow at the faster rate compared to healthcare IT security products market in the forecasted period, as the end users in this market would require continuous support in the form of service to protect their IT infrastructure from increased advanced cyber-attacks.

The cloud security proposes new growth avenues of health IT security, and evolution of next generation IT security solution is expected to create opportunities for the market. In addition, massive unexplored market in developing economies are creating abundant opportunities for the health IT security market to grow at a significant rate in the coming years. However, limited cyber security professionals and limited spending on IT security are the key factors hampering the growth of the global market.

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The digital health technologies help to improve communication between patients and healthcare providers to reduce medical errors for better coordinated care. These technologies also help to share information with other healthcare organizations and providers, such as medical imaging facilities, emergency facilities, laboratories, clinics, and pharmacies. Reliability, better health management and cost efficiency are major goals to be achieved in healthcare sector.

Geographically, North America has been the largest market for health IT security, owing to large number of healthcare data breeches, and stringent regulatory requirements on data privacy in the region. The U.S. contributed largest revenue to the North American as well as global health IT security market. Europe has been the second largest market for health IT security, where the market is driven by the increasing number of cyber-attacks to misuse healthcare information of an individual. Globally, the health IT security market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing awareness of IT security and increasing adoption of connected medical devices for managing increasing prevalence of chronic illness in the region.

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The key players operating in the global market are IBM Corporation, Symantec Corporation, Trend Micro Incorporated, Oracle Corporation, EMC Corporation, SailPoint Technologies, Dell Inc., Hewlett Packard, AT&T, and Intel Corporation.

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Peanut Allergy Therapeutics Analysis, Clinical Trials, Collaborations and Developments

Peanut allergy is one of the most common type of allergies caused by a legume, known as peanut. Peanut is an annual herbaceous plant that belongs to the family of legumes. Other examples of legumes that can cause the disease include lentils, peas, and soybeans. Peanut allergy can be unpredictable and life-threatening and can bring the body into shock (anaphylaxis). The study analyzed that peanut allergy therapeutics pipeline comprises approximately 19 drug candidates in different stages of development.

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According to the research findings, a majority of the drug candidates for the treatment of peanut allergy are being developed to be administered by the oral route which is convenient to take, and has been considered as non-invasive, and is often a safer route that requires no special training to be given to the patients.

It has been observed that most of the companies are developing drug candidates by using advanced technologies and the drug candidates have showed positive efficacy in the clinical as well as Pre-Clinical stage of development. For instance, BioLingus Inc. is utilizing its technology, BioLingus technology, which is a micro-encapsulation process, that delivers macro molecules such as peptides and proteins and is particularly effective for sublingual immunotherapy. With this technology, it has been observed in the Pre-Clinical models that sublingual IL-2 is found efficacious in 500th times lower amount than the investigational sublingual IL-2 therapy for the treatment of peanut allergy.

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Some of the key players involved in the development of peanut allergy therapeutics include Aimmune Therapeutics Inc., DBV Technologies S.A., and AnaptysBio Inc.

Source: P&S Intelligence

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Europe Drug of Abuse Testing Market Analysis, Share, Growth Drivers and Forecast by 2023

The European DOA testing market is forecasted to reach $3.0 billion by 2023. Growing alcohol consumption, rising drug trafficking, and increasing government initiatives that aim at increasing interdiction capacities and strengthening law enforcement in the region are some notable factors supporting the demand for DOA testing products and services in the region.

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The products category held larger share, of 80.1%, in the European DOA testing market in 2017. This category is predicted to grow at a CAGR of 9.2% during the forecast period, mainly due to the increasing number of drug abuse cases, development of technologically advanced products, and increasing awareness toward DOA testing in the region.

The products in the DOA testing market in Europe are further sub-categorized into consumables and equipment. The consumables used for DOA testing are rapid test kits, assay kits and reagents, and others. Of these, rapid test kits held the largest share in the European DOA testing consumables market, and generated more than $400.0 million revenue in 2017. This can be ascribed to the increasing use of these kits at point-of-care settings for the qualitative assessment of drugs and/or their metabolites in human urine for screening, diagnostic purposes, and forensic use.

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The U.K. DOA testing market is expected to observe the fastest growth, at a CAGR of 11.0% during the forecast period, mainly due to the increasing availability and consumption of illicit drugs in the country. According to the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA), in 2017, the prevalence of cannabis use was the highest in the U.K. among all European countries, with drug consumption reported approximately 11.3% in young adults aged 16–34 years. Furthermore, the U.K. government is taking initiatives to address the healthcare challenges in the country by making investments in innovative projects for drug users to overcome drug abuse and addiction.

In November 2017, Thermo Fisher Scientific Inc. announced the launch of Thermo Scientific TruNarc handheld narcotics analyzer. This narcotic analyzer can detect Carfentanil, a fentanyl analog, which is 10,000 times more powerful than morphine.

Browse report at: https://www.psmarketresearch.com/market-analysis/europe-doa-testing-market

Siemens AG, Merck KGaA, Drägerwerk AG & Co. KGaA, bioMérieux S.A., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories Inc., Abbott Laboratories, Quest Diagnostics Inc., Danaher Corporation, Bioventix Plc, Express Diagnostics Int'l Inc., Psychemedics Corporation, and Lipomed AG are other key players present in the European DOA testing market.

About P&S Intelligence

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