Wednesday, 11 July 2018

Measles Market forecast to 2023: Trends & Growth Factors, Top Companies and Detail Research for Business Development

Market Synopsis of Global Measles Market
Market Scenario
Measles also referred as rubeola is a highly contagious disease caused by the rubeola virus. Measles is contracted through exposure to other individuals infected with the rubeola virus. Early symptoms of the disease are fever, red eyes, running nose, and cough. Furthermore, red spots and tiny rashes are observed on the skin of infected person. Measles is spread by a virus belonging to the paramyxovirus family and genus Morbillivirus. This virus first infects only the respiratory tract and then spreads throughout the body.Measles is predominantly a children’s disease, which has been controlled to a large extent today as compared to the past few decades. However, the disease still remains a matter of healthcare worry in most parts of the world. In developed nations, children are commonly provided with vaccination by the age of 18 months to immunize them against the disease. Measles vaccination is not recommended to be administered to a child before the completion of 18 months because an adequate quantity of immunoglobulin is already received via the placenta.
The global measles market is driven by increasing number of people with measles and increasing patients with immunosuppressant diseases. According to the report published by World Health Organization in 1980, measles caused an estimated 2.6 million deaths each year during the period. Additionally, in 2015, approximately 134000 people died globally due to measles. In same year, about 85% of world’s children received one dose of measles vaccine. Number of treatments are available for the measles such as antibiotic treatment, antiviral treatment, vaccine, and others. During the initial stages, the drug treatment is majorly administered. However, vaccines are considered as one of the most efficient ways to prevent the diseases. Patient suffering from immunosuppressant diseases are mostly affected by the disease. Increasing prevalence of autoimmune diseases, increasing need for the better treatment, rapid developments in technology  and increasing government support for research & development have fuelled the growth of the market. However, high cost and limited availability of the treatment may slow the growth of the market over the assessment period.
The global measles market is expected to grow at a CAGR of ~ 5.1 % during the forecast period 2017-2023.
Intended Audience
  • Pharmaceutical Companies
  • Biotechnological Industries
  • Research and Development (R&D) Companies
  • Hospitals and Clinics
  • Academic Institutes and Universities
Segments
The global measles market has been segmented on the basis of types, treatment, and end users.
On the basis of type, the market is segmented into red measles and German measles.
On the basis of treatment, the market is segmented into antibiotic treatment, antiviral treatment, vaccine and others. Vaccines are further segmented into mumps measles rubella vaccine, live (MMR-II) & mumps measles rubella, and varicella virus vaccine (Proquad).
On the basis of end user, the market is segmented into hospital, clinics, and others.

Table Of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry

Regional analysis
The Americas dominates the global measles market owing to well-developed technology and increased patient population with measles. The World Health Organization (WHO) estimates that more than 30 million individuals are affected each year by measles worldwide with more than one million deaths. Vaccination has significantly reduced the number of cases in the United States, although isolated outbreaks continue to occur, and measles has been occurring more frequently in recent years due to an increased number of vaccine refusals. Additionally, increasing prevalence of the immunological diseases, high healthcare expenditure, and the presence of some of the leading players have fuelled the growth of the market in this region.
Europe is the second largest measles market, which is followed by Asia Pacific. Increasing government support and availability of funds for research drive the growth of the market. Asia Pacific is the fastest growing measles market due to a huge population base and rapidly developing medical sector.
On the other hand, the Middle East & Africa holds the least share of the market due to limited availability of medical facilities and poor economic and political conditions in Africa. However, African regions is expected to be the fastest growing market over the review period.

Key Players
Some of key players profiled in the report are Abbott (US), Novartis AG (Switzerland), Biomedical diagnostics (US), Johnson & Johnson Services, Inc. (US), Sanofi (US), Merck & Co., Inc. (US), Serum Institute of India Pvt. Ltd. (India), Bavarian Nordic (Denmark), MedImmune (US Astellas Pharma Inc. (Japan), CSL Limited (Australia), Emergent BioSolutions Inc. (US), and GlaxoSmithKline plc (US), and others. 
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Global Melanoma Market Analysis 2018 Forecasts to 2023

Market Scenario:
Melanoma is a type of cancer that develops from pigment containing cells known as melanocytes. It is the most dangerous type of skin cancer. Sometimes they develop from moles showing significant change in color, increase in size, itchiness, irregular edges, changein color or skin breakdown. Exposure to ultra violet light in people with low pigment levels. The tumor can be either malignant or benign. Types of melanoma are superficial spreading melanoma, nodular melanoma, lentigo maglina melanoma, acral lentigious melanoma and others. About 98% of melanoma is localized in the US. Skin cancer are most common cancers in the US. Treatment available for melanoma include biologic therapy, immune therapy, radiation therapy, chemotherapy and surgery. Ultra violet exposure is known as risk factor of melanoma. Superficial spreading melanoma is the type of melanoma affecting large number of people in the US. The disease is more common in men than women.
The US market of melanoma is expected to reach US$ 3.2 billion in 2023 from US$ 2.4 billion in 2016 with a CAGR of approximately 8.3%.

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Segments:

US melanoma market has been segmented on the basis of type (superficial spreading, nodular, lentigo maglina, acral lentigious and others), by gender (male and female), by treatment (immunotherapy, biologic therapy, radiation therapy, chemotherapy, surgery and others), by diagnosis (ABCDE, ugly duckling, biopsy, and others) and by end users (hospitals, pharmaceutical companies, research centers, clinics, laboratories).
Regional Analysis of Melanoma Market:
Melanoma market in the US is divided into states comprising of Georgia, New Jersey, North Carolina, New York, Florida, Illinois, Ohio, Pennsylvania, Texas, Washington, California and, Virginia and Rest of US. California accounts for the largest market for melanoma in US followed by Florida and Ohio. California and Florida are key regions for melanoma market. Large number of melanoma cases are found in this region.  New York is the third largest market after Florida. According to American Society of Dermatology, prevalence of melanoma is gradually increasing.  and this spreads across the body. Number of skin cancer patients is growing steadily in Florida and Texas. This is due to their exposure to ultraviolet rays and extensive use of tanning beds in these regions. Technological advancement in the field of treatment and diagnosis of melanoma in the US also drives this market. The Food and Drug Administration (FDA) classifies tanning beds as "moderate risk" devices.
Key Players for Melanoma Market:
Some of the Key Players in this market are: Amgen, Inc., Bristol-Myers Squibb, Eisai Co. Ltd., F. Hoffmann-La Roche Ltd., Genentech Inc. Janssen Biotech, Inc., and Novartis International AG. Pfizer, Vical and Ziopharm.
Intended Audience
Hospitals
Pharmaceutical companies
Research and development (R&D) companies
Academic medical institutes and universities
Melanoma drug manufactures
Melanoma drug suppliers


Detailed Table of Contents:
1 Report Prologue
2 Market Introduction
2.1 Introduction
2.2 Scope Of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
4.1 Drivers
4.1.1 Increasing Awareness Regarding Skin Cancer
4.1.2 Increased Emphasis On Early Detection Of Cancer
4.1.3 Increasing Inclination Towards Preventive Care
4.2 Restrains
4.2.1 Risk Associated With Blood Transfusion
5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry

...Continued

         
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Wednesday, 27 June 2018

Global Syringe and Needle Market Analysis 2018 Forecasts to 2023

Market Scenario
Syringes and Needles are sterile devices used to inject solutions into the body. Syringes and needles are also used to segregate various types of body fluids, such as tissues from joints and blood from veins.
The global syringe and needle market is driven by the growing prevalence of chronic diseases such as diabetes, cancer, chronic intestinal diseases, along with the growing government funding to support clinical trials. Additionally, the increasing older population, the increasing adoption and demand for safety syringes and needles over conventional reusable syringes and needles, increasing partnerships between biopharma companies and CROs, and investments in the R&D segment are likely to propel the growth of the global syringe and needle market.
For instance, according to the Federal Funding for Biomedical and Related Life Sciences Research, 84% of the National Health Institute’s (NIH), funding is distributed through 60,000 researchers. Additionally, the National Center for Biotechnology Information (NCBI) estimated that the population affected with diabetes is expected to reach 439 million by 2030. These growing government funding to support research and development and the rising prevalence of diabetes are likely to enhance the growth of the global syringe and needle market.
However, high risks of infections associated with the administration of drugs by syringes and needles are likely to hamper the growth of the global syringe and needle market.
Global syringe and needle market is expected to grow at a CAGR of 5.5% during the forecast period.
Key Players     
Some of the players in the Syringe and Needle market are B. Braun Medical Inc., Covidien Plc, Terumo Corporation, Smiths Medical, Albert David Ltd, and Connecticut Hypodermics Inc.
Segments                                                                                                                                            
The global syringe and needle market is segmented on the basis of type, therapeutic application, usability, and end-user.
On the basis of type, the market is segmented into blood collection needles, ophthalmic needles, bone marrow needles, catheter needles, dental needles, epidural needles, AV fistula needles, pen needles, fine aspirating needles, biopsy needles, intravenous needles, spinal anesthesia needles, and suture needles.
On the basis of therapeutic application, the market is segmented into general surgery, diagnostic, respiratory, orthopedics, cardiovascular, dental, neurology, ophthalmology, urology, and others.
On the basis of usability, the market is segmented into disposable and reusable.  
On the basis of end-user, the market is segmented into hospitals and clinics, diagnostic centers, home care, and others.  
Detailed Table of Contents:
  1. Report Prologue
  2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
  1. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
  1. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
  1. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
...Continued
       
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Thursday, 21 June 2018

Immunoassay Analyzers Market 2018 Global Trends, Share, Industry Size, Growth, Opportunities, and Industry Forecast to 2023

Market Scenario
Immunoassay is a test that measures the concentration of analytes in blood samples, this is done by an instrument known as immunoassay analyzer. This instrument measures the presence or concentration of proteins in analyte samples; using antigen-antibody binding properties. Increasing demand for the new and better drugs has led to increase the number of testing procedures. These assays are used to monitor and measure different types of diseases. The global immunoassay analyzer market is majorly driven by an increasing prevalence of different infectious, immunological or metabolic diseases, increasing demand of advanced diagnostic devices and recent trends of automation and integration which together have led to the introduction of innovative products in this market. According to the Center of Disease Control and Prevention, over 17.8 million people suffers from infectious diseases each year. Beside this, rising number of patient suffering from cardiovascular diseases and diabetes has stimulated the demand for the different drugs and tests ultimately led to the growth of the market. Furthermore, increasing geriatric population, changing lifestyle, growing habit of smoking and drinking along with increasing spending on healthcare have also fuelled the growth of this market. However, test and assays performed are strictly monitor and thus, strict regulatory requirement and high cost of the instruments may hinder this market’s growth.
The global immunoassay analyzers market is growing at a healthy CAGR of 15.6% during the forecast period of 2017-2023.
Key Players
Some of the major key player in the market are F. Hoffmann-La Roche Ltd.  (Switzerland), Siemens Ltd. (Germany), Abbott (US), Beckman Coulter, Inc. (US), Ortho Clinical Diagnostics (US), bioMérieux Private Limited (France), Biokit S.A (Spain), The Binding Site Group Ltd. (UK), Immunodiagnostic Systems (UK), Merck KGaA (US), Olympus Corporation (Japan), Nova Century Scientific, Inc. (US), Thermo Fisher Scientific (US), DiaSorin S.p.A. (Italy) and Randox Laboratories Ltd. (UK). 
Intended Audience
  • Immunoassay Analyzers Manufacturer
  • Immunoassay Analyzers Supplier
  • Research and Development (R&D) Companies
  • Independent Research Laboratories
  • Market Research and Consulting Service Providers
  • Medical Research Laboratories
  • Academic Medical Institutes and Universities
Segmentation
The global immunoassay analyzer market is segmented on the basis of instruments, applications, and end users.
On the basis of instruments, the market is classified into immunofluorescence, chemiluminescence, ELISA, enzyme linked fluorescent system, multiplexed assay system, radioimmunoassay and others.
On the basis of application, the market is segmented into infectious diseases, autoimmune diseases, AIDS, endocrinology, drug monitoring, cardiology, oncology, allergy testing and others.
On the basis of end users, the market is categorized into hospitals, diagnostic laboratories, research institutes, and others.
Detailed Table of Contents:
TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
...Continued
Regional Analysis
America dominates the global immunoassay analyzer market owing to large patient population and strong government support. Increasing diabetic population has also contributed in the growth of the market.  According to the WHO, in 2016, 9.6% of total America population were suffering from diabetes. In addition to this, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in America. Government and many companies are conducting many seminar in order to create awareness among the people which is created a room for the market growth.
Europe commands the second largest immunoassay analyzer market, which is followed by Asia Pacific. Presence of huge patient pool, and increasing government support will drive the market in Europe. Asia Pacific is the fastest growing region for the market due to the presence of a rapidly developing economies, and increasing need for the better treatment. China and India are the major contributor for the market.
On the other hand, the Middle East & Africa has the least share in the global immunoassay analyzer market due to presence of poor economy especially in Africa region. Middle East holds the major share in the Middle East & Africa immunoassay analyzer market owing to well-developed healthcare sector and huge healthcare expenditure. 
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Absorbable Heart Stent Market 2018 World Analysis and Forecast to 2023

Market Scenario:Stents are small expandable tube like devices used to inflate the arteries of the patient in order to prevent blockage. These are called as Heart stent or cardiac stent. Stent is inserted into the artery of a patient suffering from a coronary disease due to the build-up of plaque. It is used for widening the narrowed arteries and it helps in reducing chest pain and the chance of heart attack.  
Generally, conventional cardiac stents are made up of metallic mesh. They remain inside patient’s body permanently or are sometimes removed during further surgical procedures. However, having a stent permanently in the body leads to some of the risks such as infection, bleeding at the site where stent is placed, arrhythmia, and damage to the blood vessels because of the stent among others. To counter these types of hurdles, development of the absorbable heart stent was made. Absorbable stents are the ones which get dissolved in the body over the period of time. Absorbable stents are made up of material that may be easily absorbed in the body. They can be made either from a metal or a polymer. Metallic absorbable stents are made up of zinc, magnesium, iron and their alloys. Polymeric absorbable stents are mostly preferred because of their ability to maintain a strong scaffold. Drivers for the market of absorbable stents are increasing demand of absorbable stents, increase in patient pool, and increasing number of cardiac procedures. Changing lifestyle, increasing physical and psychological stress also favor the growth of this market. However, some of the recent studies have suggested that, absorbable stents are causing the increase in the number of heart attacks. Scientists have said that, research is being carried out on the long term effect of the stents after they get dissolved in the body. Recently in September 2017, Abbott Vascular, one of the biggest players in this market, has terminated the sales and operations for the absorbable stents all across the world. This major step by the big company may show a short term dip in the global absorbable stent market. Apart from this, the price of stents in developed countries and cost of cardiac surgery may cause hindrance for the growth of the absorbable stent market. Global market of absorbable heart stent is expected to reach USD 6.2 billion in 2023 from USD 3.1 billion in 2016 with a CAGR of approximately 9.6% during the forecast period 2017-2023.
Key Players
Abbott Laboratories (U.S.),  Biotronik (Germany), Arterial Remodeling Technologies SA (France), Amaranth Medical Inc. (U.S.), Kyoto Medical Planning Co. Ltd. (Japan), Elixir Medical Corporation (U.S.), and Reva Medical Inc. (U.S.).
Segmentation:Global absorbable heart stent market has been segmented on the basis of material used for bio absorbable stents which includes metal and polymer. The end users are hospitals, cardiac canters, research institutes and other users.
Table Of Contents
1. Report Prologue
2. Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Threats
4.5 Macroeconomic Indicators
5. Market Factor Analysis
5.1 Value Chain Analysis
5.2 Porters Five Forces
5.3 Demand & Supply: Gap Analysis
5.4 Pricing Analysis
5.5 Up-Coming Trends In Healthcare BPO Market
Regional Analysis:Globally, absorbable heart stent market is spread across four regions- Americas, Europe, Asia Pacific and Middle East and Africa. The Americas captures a significant market share owing to high expenditure on the health care especially in the U.S. and Canada. Increase in chronic heart disease and increasing geriatric population suffering from risk factors for heart disease like diabetes and obesity drive this market in America. Additionally, the greater number of cardiac surgeries procedures due to greater healthcare penetration in the U.S. and Canada drives the absorbable heart stent market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth.
Europe is the second largest market in the world due to growing medical devices industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large medical devices industry. Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to fast growing healthcare sector and large unmet needs over the forecast period. Middle East & Africa currently contribute least in the overall growth of this market. However, considering the growth in the healthcare sector in Middle Eastern countries like UAE, and Saudi Arabia among others, it is very likely that this region will show a decent growth in the absorbable stent market in the near future.
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Global Carcinoid Tumor Market 2018 Size, Status and Forecast to 2023

Market Scenario:
Carcinoid tumor is a type of the neuroendocrine tumor. A neuroendocrine tumor develops in the body’s neuroendocrine system, which is made up of cells that are a combination of hormone-producing endocrine cells and nerve cells. The most common site of carcinoid tumors is GI (gastrointestinal) tract and lungs. The other sites for the development of the carcinoid tumors is inclusive of the pancreas, testicles, and ovaries. According to the American Society of Clinical Oncology (ASCO) in 2016, approximately 8,000 adults in the US were diagnosed with a carcinoid tumor in their GI tract. Moreover, it was also estimated that each year approximately 4,000 adults in the United States diagnose with the carcinoid tumor in their lung. Thus, the prevalence of the carcinoid tumor is expected to drive the market. In 2016, American Society of Clinical Oncology (ASCO) published a report stating that the people who were diagnosed with carcinoid tumor were in their early 60s. Additionally, according to the report of WHO published in 2015, the geriatric population is expected to double and reach 2.1 billion by 2050. Thus, the growing geriatric population along with rising healthcare expenditure is set to boost the market growth during the forecast period. However, lack of awareness, treatment cost and related side effects may restrain the market growth during the forecast period. 
The global carcinoid tumor market is expected to grow at an approximate of CAGR of 10.5% during forecast period. 
Key Players in the Global Carcinoid Tumor Market
Some of the key players in the global carcinoid tumor market are Novartis AG (Europe), Amgen Inc. (U.S.), Boehringer Ingelheim GmbH (Europe), AVEO Pharmaceuticals, Inc. (U.S.), Chiasma, Inc. (U.S.), Aegis Therapeutics, LLC (U.S.), CRINETICS PHARMACEUTICALS (U.S.), Delcath Systems Inc. (U.S.), Exelixis, Inc. (U.S.), and others.
Intended Audience
  • Pharmaceutical companies
  • Biotechnological institutes
  • Government and Private Laboratories
  • Research and Development (R&D) Companies
  • Medical Research Laboratories
  • Market Research and Consulting Service Providers 
Segmentation
The global carcinoid tumor market is segmented on the basis of site, diagnosis, treatment, and end users.
On the basis of site, the market is segmented into gastrointestinal, lung, and others. Furthermore, the gastrointestinal segment is sub-segmented into rectum, small intestine, appendix, and others. The lung segmented is sub-segmented into typical, atypical, and others.
On the basis of diagnosis, the market is segmented into serology, imaging, biopsy, and others. The serology segment is sub-segmented into blood test, urine test, molecular test, and others. The imaging segment is sub-segmented into X-ray, CT scan, PET scan, and others.
On the basis of treatment, the market is segmented into surgery, chemotherapy, radiotherapy, and others. The surgery segment is sub-segmented into local excision, radiofrequency ablation (RFA), and others.
On the basis of end users, the market is segmented into hospitals & clinics, academic institutes, research organization, and others.
TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
Regional Analysis
America dominates the global carcinoid tumor market owing to a well-developed healthcare sector and huge patient population. Apart from this, increasing healthcare expenditure and presence of developed economies within the region are adding fuel to the growth of the market in America.
Europe is the second leading region in the global carcinoid tumor market, which is followed by Asia Pacific. Availability of funds for research, huge patient population and government support for research & development are projected to drive the market. According to the National Health Service in 2015, each year about 1,200 people diagnose with carcinoid tumor in the UK.
Asia Pacific is the fastest growing region in the market due to the presence of a huge patient population, continuously developing economies like India and China, and the presence of huge opportunity in the market. Moreover, there are huge opportunities within the region for the growth of the untapped market.
On the other hand, the Middle East & Africa accounts the least share of the global carcinoid tumor market due to presence of poor economy, especially, in Africa region. Majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure.
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Wednesday, 20 June 2018

Healthcare Fraud Detection Market Global Segmentation and Major key Players Analysis 2023

Market Details:
The global healthcare fraud detection market is set to grow at nearly 30 percent CAGR during 2017 to 2023 (forecast period). Growth of the industry is attributed to medical scams, heavy returns on investments, and fraudulent pressures. Alongside these factors, exploitation of medical funds and more patients seeking medical insurance also steer the market.
As a whole, healthcare frauds involve drug frauds, medical insurance frauds, and medicine frauds. Health insurance frauds happen when people or firms defraud government medical programs or insurers. The process via which these frauds are committed differ from time to time and the swindlers manage to come up with new ways & means of executing their crimes.
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Fraud damages are generally compensated for, through the adoption of ‘False Claims Act.’  As per an analysis by MRFR (Market Research Future Reports), rising demand for reduction in medical expenses across suppliers & hospitals should drive the need for healthcare fraud detection. With eHealth, mHealth, EHR, and other info-enriched devices, any kind of communication breach between patients and caregivers has decreased.
The said factor has led to the production of massive information, enabling customized therapies and fraud prevention. Normally, patients are apprehensive about the adoption of such fraud detection tools. But, with the amalgamation of human & artificial intelligence, healthcare approaches are further personalized. Hence; the need for healthcare analytics rises, boosting the revenues of healthcare fraud detection.
Industry - Fragmentation:
The healthcare fraud detection market is segmented on the basis of components, kinds, end-users, delivery models, and geographies. Services and software form the components. Predictive analytics, descriptive analytics, and prescriptive analytics constitute the kinds. Some of the end-users consist of employers, regulatory/public agencies, private insurance payers, and third party services.
The remaining comprise payment integrity, insurance claim reviews, and identity & case management. Various delivery models are on-demand and on-premise. Americas, Asia Pacific, Europe, and the Middle East & Africa are the different regional markets.
Sub-Segment Leaders:
By components, services captured the largest shares. With the advent of newer fraud detection software and demand for fraud analytics, services are reported to grow at the maximum CAGR in the forecast period. Among kinds, descriptive analytics produced the largest incomes.
Prescriptive, on the contrary, would grow at the maximum rate. Its growth will owe to it making sure that the synergistic incorporation of prescriptions & predictions is aptly carried out. The end-user, private insurance payers occupied the biggest shares and are coerced into spending on fraud analytics. Their shares arose from significant ‘cost-saving’ prospects and agreement with strict terms & conditions.
By delivery models, on-demand can grow at the maximum rate during 2017 to 2023. On-demand’s huge CAGR is ascribed to more adaptability, the need for self-driven analytics, and shortage of hardware funds. Americas, with regards to regions, led the worldwide healthcare fraud detection market.
This region was followed by Europe and propelled by technological developments, accessibility to products & services, and emphasis on pricing cut backs. While this industry opens novel prospects for many companies, its growth could be hampered by regular improvisations, time-consuming usage, and lack of proficient experts.
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Prominent Market Companies and Innovations
SAS, Optum, IBM, Conduent, Pondera, and Wipro are some of the eminent players operating in the global market. CMS (Centers for Medicare and Medicaid Services), lately, optimized predictive modeling to detect fraud claims prior to them being paid. This cutting-edge technology is akin to what credit card firms adopt to detect fraudulent activities and distrustful conduct. It offers an active anti-fraud solution to the CMS. Some of the growth strategies employed by the above players are product launches and research & development initiatives.

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