New Master Plan Boost Medical Tourism Market Growth From USD 70,836.9 million to a staggering USD 226,762.7 million

Market Insights

Increasing costs of treatments for chronic diseases and other kinds of treatment have been highly encouraging of medical tourism. It has been a common practice in an effort to procure good treatment at lower costs. Developing economies around the world offer high-quality medical treatments which attract patients from other parts of the world. Market Research Future has published its newest report on the global medical tourism market which reveals an expected and promising CAGR of  21.4% during the forecast period from 2017 to 2023. The market was found to be valued at USD 70,836.9 Mn at the start of the forecast period and is likely to grow to reach an impressive USD 226,762.7 Mn by the end of 2023.

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In the US, an angioplasty treatment would cost well over USD 55,000. However, in India, the cost is a fraction of the price as USD 3,300. The drastic difference in costs has led patients in developed countries with high healthcare costs to seek treatment in countries which are emerging rapidly and have a similar medical infrastructure. The reduces waiting time for treatment in these countries is also a significant factor driving growth for the global market. Timely treatment is the key to speedy recovery. However, the prevalence of chronic diseases in some developed countries has resulted in waiting lists for treatments. These waiting lists can easily be skipped via medical tourism. Developing countries are positioning themselves as medical tourism hubs with plenty of support from local governments, thus increasing market growth. Investments in healthcare sectors of these countries have ensured high-quality treatments at comparatively low prices. Language barriers and long travel times are expected to work against market growth and challenge the global medical tourism market.

Market Segmentation

The global medical tourism market is segmented on the basis of type. This is divided into neurology/neurosurgery treatments, orthopedic/spine treatments, fertility/IVF treatments, cosmetic treatments, cardiovascular/cardiology treatments, oncology/cancer treatments, and dental treatments. Among these, The cosmetic treatments market is the most lucrative segment with a high demand for facial rejuvenation and breast reconstruction treatments. The cost-efficient prices at medical tourism destinations for cosmetic procedures drive the segment's growth.

Regional Analysis

The Asia Pacific, due to a high concentration of developing economies has a 43.7% share of the market making it the market leader by regional assessment. Investments in technological advancements and state of the art medical machinery are augmenting market growth. Moreover, The region includes South Korea which is a highly popular destination for cosmetic procedures. The APAC is expected to grow at a highly promising CAGR of 22% during the forecast period. Eastern and Central Europe also represent an important regional segment which is growing rapidly and is expected to establish itself as a medical tourism destination over the forecast period.

Key Players

Noted market players that are included in the report are Asklepios Kliniken Verwaltungsgesellschaft mbH, Shouldice Hospital, Bangkok Hospital, Bumrungrad International Hospital, Samitivej PCL, CHRISTUS MUGUERZA, Clemenceau Medical Center, Anadolu Medical Center, Prince Court Medical Centre, Fortis Healthcare, Gleneagles Global Hospitals Group, and Schoen-Kliniken. These market players are extensively profiled in MRFR's competitive analysis.

Latest Industry News

• Abu Dhabi's Department of Culture and Tourism has just signed an MOU with the Medical Tourism Association to partner in its efforts to establish itself as a high-quality medical tourism destination
• Cancun, Mexico, has begun development of "Health City" with the help of third-party The location of the project is situated 10 minutes from the airport and aims to increase medical tourism activities.

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Migraine market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.

Market Overview:

Migraine is a debilitating pain disorder characterized by moderate to severe recurrent headaches. According to the report that has been published by Market Research Future (MRFR), the global migraine market size is anticipated to grow at a steady rate in the coming years.

Market Drivers and Restraints:

Migraine is one of the common disorders that cause tender headaches and is generally associated with other indications such as nausea, vomiting and sensitivity to light, smell and sound. The occurrence of migraine is common in females rather than males. Hence global increase in population, especially female population has resulted in increased prevalence of migraine leading to the high demand for effective treatments in the global migraine industry.

The underlying mechanism of migraine is not fully known. However, increasing incidences of migraine that is triggered due to other causative disorders are fueling the growth of the global migraine market. Absence of permanent cure for migraine and growing genericization of drugs are creating multiple opportunities for pharmaceutical companies to introduce effective medication and treatment for the condition, leading to the growth of the global migraine market.

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Changing lifestyles, increasing stress levels and rise in prevalence of hormonal imbalance leading to migraine are inducing high demand for proper medication in the global market, which in turn is driving the global migraine market towards higher verticals. On the flip side, over-reliance on over-the-counter painkillers and easy availability of generics are likely to act as restraints on the growth of the global migraine market.

Key Players:            

The leading players profiled by MRFR in the report on the global migraine market are Allergan, Impax Laboratories, Abbott Laboratories, Inc., Eisai Inc., Eli Lilly and Company, Pfizer, Inc., Johnson & Johnson, Klaria, Kowa Pharmaceuticals America, Luitpold Pharmaceuticals, Meda, Merck, OptiNose, AstraZeneca plc, and GlaxoSmithKline Plc.

Market Segmentation:

The global migraine market research report has been segmented on the basis of types, treatment types and drug class. Based on types, the migraine market is segmented into episodic and chronic. Based on treatment types, the migraine market is segmented into abortive and preventive. Based on drug class, the migraine market is segmented into triptans, ergots and others.

Industry Updates:

In August 2018, University of Melbourne has launched a new course named 'Mastering migraine management' which highlights the latest advances in migraine diagnosis and treatments for general practitioners. This course was built in one year by a team of neurologists and is made available on any smart device.

Regional Analysis:

Geographically, the global migraine market is segmented into four major regions such as North America, Europe, Asia Pacific and the Middle East and Africa. Increasing healthcare expenditure, rise in prevalence of migraine and availability of specialty migraine drugs are driving the migraine market in the North America region. The growth of migraine market in the Asia Pacific region is fueled by increasing investments by key players in the emerging market in the developing economies of India and China. The migraine market in the Europe region is projecting high growth potential owing to the increasing demand for effective treatment for migraine in this region.

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TABLE OF CONTENTS

1 Report Prologue

2 Introduction

2.1 Research Objective

2.2 Assumptions & Limitations

2.2.1 Assumptions

2.2.2 Limitations

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

…Continued!

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Mobile HealthCare Market increases of over 25 percentage points among the economies of Turkey, Malaysia, Chile and Brazil

Mobile health or mHealth is the practice use of mobile devices for the purpose of health services, information, and data collection. mHealth has emerged as a booming field due to advancements in the use of information and communication technology (ICT), for health services and information. mHealth applications include the use of mobile devices such as mobile phones, tablet computers and wearable devices such as smart watches,  in collecting health data, delivery of healthcare information, real-time monitoring, and direct provision of care via mobile telemedicine.

The mHealth market is growing at an explosive pace due to the factors such as increasing awareness of mobile technology applications, surging focus on patient-centric healthcare deliver, technological innovations, concerns over the rising cost of healthcare delivery, growing integration of wireless technologies, convenience of medical devices, falling prices and growing affordability of mobile devices and others.

The factors constraining the market are low mobile and network coverage in developing and poorer regions of the world, lower accuracy, poor penetration of smart devices, nascent technology in underdeveloped economies, limited reimbursement, lack of technological awareness among the ageing population, concerns over information security and privacy and others.

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A careful analysis of the factors reveals the following;

• Poor network coverage and quality represent the most critical factor restraining the market
• Technological development in the mobile device and information management systems represent the critical opportunity factor for the market
• Growing mobile device affordability and awareness are the critical driving factors behind the market growth. According to Pew research, 78% of adults under 30 own a laptop or desktop computer, compared with 88% in 2010. Smartphone ownership, is very high at 86% of in 2015 in the age group of 18- to 29-year-olds.

The global mHealth market is projected to reach USD 21.71 billion by 2022, growing at a CAGR of 35.65% during the forecast period.

mHealth Market is segmented by devices, services, technology and applications. The device segment is sub segmented into blood glucose meters, BP monitors, pulse oximetry, neurological monitoring, wearable fitness sensor device, heart rate meters and others. The services segment is sub segmented into diagnosis, monitoring, prevention, treatment, and others. The application segment is sub segmented into cardiovascular, respiratory, neurological, genetic diseases and others.

The largest players in the mHealth market are Apple, AT&T, AirStrip, Boston Scientific, CardioNet, Athena health, Sanofi, Fitbit, Telcare, Zephyr Technology and others

Regional outlook

While mHealth grew out of industrialized nations, the field has shifted in favour of the developing countries, stemming from the rapid rise of mobile phone penetration in low-income nations. For example, in a study conducted by Pew research in contrast to a median of 45% across emerging and developing countries reported using the internet occasionally in 2013, the number in 2015, rose to a whopping 54%. The largest growth has been reported from large emerging economies such as Malaysia, Brazil and China. The comparative figures in 2015 was 87% for advanced economies such as U.S. and Canada, major Western European nations, Australia, Japan etc.

Another example can be seen in the falling divide for smartphone ownership between developing and developed economies. Smartphone ownership rates in emerging and developing nations climbed from a median of 21% in 2013 to an eye watering 37% in 2015. There also is an effect of the demographic dividend that is paying well for the market as in nearly every country, millennials are much more likely to be internet and smartphone users compared with those ages 35 and older. Other findings reveal that smartphone ownership rates have skyrocketed in many countries since 2013. This includes increases of over 25 percentage points among the economies of Turkey, Malaysia, Chile and Brazil.

In a number of emerging and developing countries, more people have access to the internet and are also using it more frequently. In 12 emerging nations surveyed in 2014 and 2015, there were significant increases in the share of adult internet users who say they access the internet several times a day, including in Nigeria (+20 points), Ghana (+19) and China (+13). Thus developing region nations are likely to be the leaders in mHealth market in the near future.

However Africa remains a dark continent for the mhealth market due to its poor socio economic conditions. The countries with the least smartphone ownership rates are Tanzania (11%), Uganda (4%) and Ethiopia (4%).

Social issues

Gender gaps and digital divide are raging issues that have been not analysed to the degree they demand. Men are more likely than women to use the internet and these differences are especially stark in African nations. Large gender gaps also appear on smartphone ownership with men being more likely to own a smartphone in many countries, in developing regions. The applications of mHealth also reflect the social reality. mHealth is restricted to dissemination of information, whereas the developed world is moving towards connected healthcare and big data applications.

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Mobile Health Industry

Healthcare Services Providers Adopt Telehealth Market Technologies

Market Scenario

The global telehealth market is presumed to register 29.8 % CAGR during the forecast period (2017-2023) owing to the prevalence of chronic diseases, asserts Market Research Future (MRFR). Telemedicine or telehealth is a mode of delivering health care services to patients with the help of communication technologies. This facilitates treatment, diagnosis, education care management, consultation, and others. It acts as a bridge to improve the relationship between a patient and a health care provider and also improves patient satisfaction and behavioral changes by offering healthcare treatment and guidance.

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Drivers and Constraints Impacting the Market

With the prevalence of chronic diseases such as diabetes and cancer, continuous growth in the healthcare technology, and increasing geriatric population, the global market for telehealth is likely to prosper. Increasing expenditure on healthcare, rapid development in technology, and growing need for home-based devices are further stimulating the market growth during the forecast period. Telehealth offers several benefits which include enhanced care coordination which maximizes clinical efficiency and improved outcomes at reduced costs. The uptake of telehealth is continuously growing as users view telehealth as a viable alternative to traditional visits. With the acceptance of telehealth among the patients, the market is stimulating during the estimated period. Moreover, the growing population is the major factor acting as a tailwind to the market growth. Also, factors such as portable connected devices, proliferation of the internet, growing adoption of smartphones, and development in telemedicine technologies are likely to influence the market growth.

On the flip side, unavailability of required infrastructure in several parts of the world, especially in the underdeveloped African and Asian regions and lack of awareness regarding telehealth is anticipated to retard the market growth in the coming years.

Global Telehealth Market: Segmental Analysis

The global telehealth market has been segmented on the basis of types, components, end-users, and region.

By mode of component, the global telehealth market has been segmented into software, hardware, services, and others. Among these, the hardware component is further sub-segmented into medical devices, monitors, and others. Monitors are sub-segmented into blood pressure monitors, ECG monitors, blood glucose monitors, and others. Among these, the services segment is presumed to command the largest market share owing to growing adoption of remote monitoring solutions by patients dwelling in remote rural areas and technological advancements in telecommunication.

By mode of type, the global telehealth market has been segmented into on-premise, web-based, and cloud-based.

By mode of end-users, the global telehealth market has been segmented into pharmaceutical companies, hospitals and clinics, and others.

Regional Insights

Geographically, the telehealth market span across regions namely, America, Europe, Asia Pacific, and the Middle East and Africa.

Among all the regions, America is presumed to dominate the global market due to the presence of a huge patient population suffering from chronic respiratory diseases and diabetes. Also, the presence of huge geriatric population is impacting the market positively. The United States has been the first choice for deployment of telehealth solutions due to technological advancements and established healthcare systems.

Europe is considered to hold the second position in the global market during the assessment period. Germany is likely to dominate the connected healthcare deployments in this region with varied solutions being offered and services delivered through messages and applications.

While Asia Pacific has the fastest market growth owing to the presence of rapidly developing countries such as India and China, the Middle East and Africa is considered to hold the least market share. Huge development opportunities and constantly developing healthcare infrastructure in the Asia Pacific region is likely to propel the market growth.

Industry News

October 5, 2018:  The U.S. Senate has passed a bipartisan bill with a 98-1 vote to fight against the opioid crisis. Provisions in the law, which President Donald J. Trump is expected to sign, will remove significant barriers to treating opioid addicts via telehealth.

Competitive Dashboard

The major players operating the global market are InTouch Technologies Inc. (U.S.), Cerner Corporation (U.S.), Care Innovations LLC. (U.S.), GlobalMedia Group LLC (U.S.), General Electric Company (U.K.), AMD Global Telemedicine Inc. (U.S.), Medtronic (Ireland), Koninklijke Philips N.V. (the Netherlands), McKesson Corporation (U.S.), and Siemens Healthcare Private Limited (U.S.).

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Highly Demand Of Healthcare Security System Market in Cyber Security

“Global Healthcare Security Systems Market Research Report - Forecast to 2024– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2024.

Market Synopsis:

Market Research Future (MRFR)has published a detailed report stating that the global healthcare security systems market is marked to expand at a noteworthy CAGR of 9.5% during the forecast period of 2018-2024. Increased adoption of cloud-based solution of data storage and management in the healthcare sector is increasing the vulnerability of healthcare data towards theft and criminal activities. Rise in incidences of cybercrimes is inducing high demand for optimized security services, which in turn is propelling the expansion of the global healthcare security systems market. However, low penetration of advanced technology in underdeveloped regions and high cost of services are likely to act as restraining factors on the growth of the global healthcare security systems market.

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Market Segmentation:

The global healthcare security systems market has been segmented on the basis of type, surveillance system, application, and end-user. Based on type, the global healthcare security systems market has been segmented into CCTV system, access control systems, infant security system, intrusion detection instruments, security alarm, metal and explosive detectors, RFID tags, and others. The access control systems segment has been sub-segmented into biometric systems, smart cards, chipper locks, and X-Ray screening system. The security alarm segment has been sub-segmented into burglar alarms, fire alarm, carbon monoxide alarm, and others. Based on surveillance system, the global healthcare security systems market has been segmented into video surveillance, surveillance cameras, and others. Based on application, the global healthcare security systems market has been segmented into surgical equipment tracking, medical devices tracking, document and data file tracking, patient tracking, monitoring, and others. Based on end-user, the global healthcare security systems market has been segmented into hospital, clinics, diagnostic centers, pharmacy, laboratories, and others.

Regional Analysis:

Geographically, the global healthcare security system market has been segmented into four major regions such as the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa. The Americas dominate the global healthcare security systems market with a significant market share. Rising cyber security threats, increased utilization of cloud-based solutions in the well-developed healthcare sector that require optimized security solutions and high risk of security to the medical data in the growing healthcare industry are fueling the growth of the healthcare security systems market in this region. Increased incorporation of advanced technology in the healthcare industry and high demand for effective healthcare security systems are leading to the notable expansion of the healthcare security systems market in the Europe region. Increasing reliance on cloud-based solutions in the healthcare sectors of emerging economies and rise in awareness regarding security threats to a large amount of healthcare data are propelling the expansion of the healthcare security systems market in the Asia Pacific region. However, low penetration of advanced technology and poor healthcare facilities in the underdeveloped countries are restraining the growth of the healthcare security systems market in the Middle East and Africa region.

Industry Updates:

In December 2018, the Department of Health and Human Services (HHS) has released voluntary cybersecurity practices to the healthcare sector with the motive to provide practice guidelines for cost-effectively reducing cybersecurity risks.

In January 2019, Qognify, a technology solution provider for physical security and enterprise incident management to education, government, healthcare, manufacturing, and other sectors, has completed the acquisition of On-Net Surveillance Systems (OnSSI), an IP video management software (VMS) company along with IP video technology company, SeeTec GmbH.

Key Players:

Some of the key players profiled by MRFR that are operating in the global healthcare security systems market are Avigilon Corporation (Canada), Schneider Electric SE (the U.S.), Cisco Systems, Inc. (the U.S.), Tyco Security Products, Nedap Security Management, ADT LLC dba ADT Security Services (the U.S.), STANLEY Healthcare (France), Seico Security (the U.S.), Atos SE (Germany), Johnson Controls (the U.S.), Allied Telesis, Inc. (the U.S.), Siemens AG, Bosch Security Systems, Honeywell International, Inc., and others.

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Healthcare eDiscovery Market Focus On Top Key Players : Google (U.S.), IBM (U.S.), Microsoft Corporation (U.S.), Allscripts (U.S.)

Market Scenario

Market Research Future (MRFR) reports that the global healthcare eDiscovery market is expected to expand at a phenomenal CAGR of 11.5% during the forecast period (2017-2023). Healthcare, being a highly litigious and regulated industry, is in dire need of an intelligent information governance solution with a purpose-built eDiscovery platform. Therefore, the global market for healthcare eDiscovery is driven by need for data storage regarding patients billing, radiological images, and medical history combined with management of healthcare data. The global healthcare eDiscovery market is blooming owing to growing awareness of benefits offered by Information Management System and importance of medical data archiving system among healthcare providers. Moreover, focus on proactive governance with data analytics and emergence of new content sources along with need to reduce operational budget of legal departments give leverage to the market growth. On top of that, accelerated litigations worldwide, proliferation of Internet of Things (IoT) devices across verticals and excess amount of stored data accelerate the market expansion globally. Small and large companies are recognizing the numerous applications of healthcare eDiscovery system, and the global market players are taking note of it as well. The market is also growing on the back of these market players creating waves via technological advancements and other strategic actions.

On the contrary, the market is also marred with some restraining factors that could potentially hamper its growth, including lack of awareness about the system among health professionals. But on the bright side, the market is soaring high on account of the significant benefits offered by healthcare eDiscovery services such as huge cost savings, 24X7 availability of customer service, and support for legal research. With the continuous penetration of big data, IoT, and analytics cloud in big firms, the demand for eDiscovery services is bound to gain a huge traction.

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Healthcare eDiscovery Market

Market Segmentation

The global healthcare eDiscovery market is segmented on the basis of deployment, application, and end-user.

By deployment, the market is segmented on the basis of on-premise system and cloud system. The cloud-based healthcare eDiscovery is quite popular with big enterprises due to low cost, flexibility as it can be accessed from anywhere, and independence from on-premise systems. Owing to these factors, the segment is gaining significant traction in the global market.

By application, the market is segmented on the basis of audit trail via metadata, communication, EHR-hosting, and other applications. Audit trail via metadata is picking up immense speed in the market as it enables health professionals to keep track of someone accessing the system, reviewing information, and how long it took to review it.

The end-users in the global market include healthcare information technology (IT) companies, hospitals, clinics, pharmacy, and others. Hospitals form a large part of the global healthcare eDiscovery market due to the healthcare industry being highly litigious and data-centric. Any sort of error could lead to medical malpractice and in order to avoid that, healthcare eDiscovery is used to eliminate any risk and enable access to data at any time.

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Regional Analysis

Geographically, the healthcare eDiscovery market is spread across the regions of North America, Europe, Asia Pacific and Middle East & Africa.

North America possesses the largest market share due to increasing emphasis on storage and retrieval of clinical data, and demand for quality healthcare. Moreover, extensive use of software solution for healthcare management and data storage, emphasis on improving healthcare quality, and demand for authentic software solution have driven the market growth in the region.

After North America, Europe occupies the largest market share owing to the growing use of data management solutions coupled with regulations pertaining the use of healthcare information by hospitals and health insurance companies. In addition, growing number of investors and venture capitalists in the region push the demand for healthcare eDiscovery system. Growing awareness of benefits offered by the system and emerging applications for the software triggers the regional market growth.

However, Asia Pacific is the fastest growing market with countries such as India and China being the largest revenue generators. Burgeoning patient pool, awareness with reference to importance of medical records in legal matters and elevated demand for cost-effective healthcare IT solutions for management have firmly established the market in the region. Giving further push to the market in Asia Pacific are government incentives and initiatives to promote healthcare IT along with technological advancements. Adding to the market growth is the vast use of healthcare software solutions and rising healthcare expenditure combined with extensive growth of medical device industry.

Lastly, the growth in the Middle East & Africa market is slacking due to low technology penetration and substandard healthcare infrastructure, particularly in the African countries. Countries in the Middle East, namely United Arab Emirates and Saudi Arabia, are the prominent contributors to the market growth due to increasing availability of specialty healthcare diagnostics and treatment services and also progressing demand for software solutions for patient care. There have been continuous efforts to improve the economy and standard of living in the region, which could also positively influence the market size.

Key Players

The key players making their mark in the global healthcare eDiscovery market are Google (U.S.), IBM (U.S.), Microsoft Corporation (U.S.), Commvault (U.S.), Actiance, Inc. (U.S.), and Barracuda Networks Inc. (U.S.).

Health Catalyst acquired Medicity in July 2018. The acquisition entails combining auditing through metadata that is part of healthcare eDiscovery system with data content analysis to deal with population health, referral patterns, and patient outcomes in a region. The acquisition also combines Medicity's clinical dataset of 75 million patients with Health Catalyst's Data Operating System (DOS) which includes AI-driven analytics and business intelligence.

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Market Research Future® (Part of WantStats Research And Media Pvt. Ltd.) has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions. 

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Medical Device Market Research Report

Medical Device Market Research Report