Healthcare Services Industry Overview

Proteomics Market Definition

The proteomics market consists of sales of instruments, reagents, software and services intended to use for proteomics research. Proteomics is a large-scale study of proteomes. A proteome is a set of proteins that are produced in an organism, system, or biological context. Proteomic research provides a deep understanding of the processes underlying healthy and diseased cellular processes at the protein level. Unlike the genome (set of genes within each organism), the composition of the proteome is dynamic and changes over time and throughout the life span of an organism. Proteomics is used to investigate when and where proteins are expressed; rates of protein production, degradation, and steady-state abundance; how proteins are modified; movement of proteins between subcellular compartments; involvement of proteins in metabolic pathways; and proteins interactions with one another. Proteomics also provides significant biological information for many biological problems such as which proteins interact with a particular protein of interest for example, the tumor suppressor protein p53 or which proteins are involved in a biological process.

Rail Transport Market Definition

The rail transport market consists of sales of rail transportation services and related goods by entities (organizations, sole traders and partnerships) that transport goods and people from one location to another for an amount or fee. The rail transportation services industry includes establishments that provide services to move people, goods and materials through trains. The market excludes street railroads, inner city commuter rail (such as localized underground and overground networks), urban rapid transit, scenic, and sightseeing train transportation. The market by value in this report is defined as the revenues that enterprises gain from goods and/or services within the specified market and geography. It does not include revenues from resales further either along the supply chain or as part of other products. Only goods and services traded between entities or sold to end consumers are included. Whether specifically stated or not, the markets for goods include related services and the markets for services include related goods.

Value Based Care Payment Market Size

The value based care payment market reached a value of nearly $1,519.5 million in 2020, having increased at a compound annual growth rate (CAGR) of 3.9% since 2015. The market is expected to grow from $1,519.5 million in 2020 to $4,028.8 million in 2025 at a rate of 21.5%. The global value based care payment market is then expected to grow at a CAGR of 10.9% from 2025 and reach $6,768.0 million in 2030. Growth in the historic period resulted from strong economic growth in emerging markets, and rapid development in value-based health care services. Factor that negatively affected the growth of the global value based care payment market in the historic period were negative impact on the healthcare services and low healthcare access Going forward, increase in chronic diseases and disabilities and government initiatives will drive the growth. Factors that could hinder the growth of the value based care payment market in the future include lack of infrastructure in developing countries and high risk plans.

The medical tourism market includes revenues generated by healthcare service providers by diagnosing and treating the patients who travel across international borders to obtain medical treatment. Patients usually travel from countries lacking healthcare infrastructure or having high healthcare costs to major medical centres in developing countries. The global medical tourism market is expected grow from $19.79 billion in 2020 to $21.93 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $40.03 billion in 2025 at a CAGR of 16%. The medical tourism market covered in this report is segmented by treatment type into cosmetic treatment; dental treatment; cardiovascular treatment; orthopaedics treatment; bariatric treatment; fertility treatment; ophthalmic treatment; others. High healthcare cost in developed countries is driving growth in the medical tourism market as developing countries are able to provide cheaper treatment. Patients usually travel to developing countries with quality healthcare infrastructure and low healthcare costs. According to a study conducted by the Centres for Disease Control and Prevention, approximately 0.75 -1.6 million people from the USA travel out of the country for medical care to avoid high treatment cost. For instance, a hip replacement surgery in the USA costs approximately $39,299 while the same surgery in India, Costa Rica or other developing countries would cost between $7000 and $15,000 including logistics. The coronavirus disease (COVID-19) outbreak is to act as a major restraint for the growth of the medical tourism industry during 2020 and 2021. According to the World Health Organization’s report, 213 countries are affected by the COVID-19 outbreak including countries with a high number of medical tourists such as the USA, China, Japan, and South Korea. The government of various countries has banned travellers from affected countries, barred flights to certain countries, and changed the visa requirements. The American Centres for Disease Control and Prevention (CDC) predicted that the situation could last into 2021 and is likely to impact the medical tourism industry significantly. Therefore, the coronavirus outbreak and travel bans are expected to restrict the growth of the medical tourism industry in the near future. Patients travelling across countries for medical treatment are increasingly using electronic health records to store information related to health in digital format. Electronic health record is the systematic collection of patient health and medical examination reports stored electronically. These health records can be accessed instantly and securely by authorized users. Electronic health records eliminate the need to carry heavy medical records for patients travelling long distances for treatment. Some of the major electronic health records software include eClinicalWorks, Allscripts, Cerner. In September 2020, IHH Healthcare, a Malaysian–Singaporean private healthcare group focused on upmarket health services acquired Prince Court Medical Centre for $0.25 billion. Through this acquisition Prince Court Medical Centre will complement IHH's cluster strategy of having specialised tertiary hospitals in Kuala Lumpur. Prince Court Medical Centre, a private healthcare facility located in the heart of Kuala Lumpur, Malaysia. The major players covered in the global medical tourism market are Apollo Hospital Enterprise Limited, Prince Court Medical Center, Bumrungrad International Hospital, KPJ Healthcare Berhad, Fortis Health Ltd., Raffles Medical Group, Bangkok Hospital Medical Center, Samitivej PCL., Min-Sheng General Hospital, Asian Heart Institute, Asklepios Klinik Barmbek, Spire Healthcare, Medanta, IHH Healthcare Berhad, Anadolu Medical Centre, Clemenceau Medical Centre, Gleneagles Hospital, Mount Elizabeth Hospital, Healthbase, Klinikum Medical Link , NTT Medical Center Tokyo, Seoul National University Hospital, UZ Leuven, Wooridul Spine Hospital, Aditya Birla Memorial Hospital, Barbados Fertility Center. The countries covered in the global medical tourism market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global medical tourism market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global medical tourism market is segmented - 1) By Treatment Type: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Bariatric Treatment, Fertility Treatment, Opthalmic Treatment, Others 2) By Type: Domestic, International

The robotic surgery services market consists of the sale of services provided robotic surgical technology, the highly advanced technological form of non-invasive surgery that utilizes robots and computer systems to conduct surgeries with lesser incision and more precision. The commonly used robotic surgical system consists of a mechanical arm and camera arm attached to surgical instruments with a controlled by a surgeon being seated at a computer console which is usually in the same room as the surgical table, or can be around the world. The global robotic surgery services market is expected grow from $0.57 billion in 2020 to $0.75 billion in 2021 at a compound annual growth rate (CAGR) of 31.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.49 billion in 2025 at a CAGR of 19%. The robotic surgery services market covered in this report is segmented by application into general surgery; urological surgery; gynaecological surgery; orthopaedic surgery; neurosurgery; other applications and by end-users: hospitals; ambulatory surgery centres (ASCS). Increase in purchasing power of hospitals and ambulatory care services has helped in the growth of the robotic surgery service market. Hospitals and ambulatory care services are interested in buying latest technologies to provide advanced care to the patients as well as to achieve an edge over their competitors. According to the fourth quarter financial results 2019 of intuitive Surgical, the robotic surgical giant, the company has shipped around 336 DA Vinci systems during the quarter when compared to 290 during the fourth quarter of 2018. It has almost 5,582 DA Vinci systems installed, with a 12% year-over-year increase. According to the 2019 Annual Report of Intuitive Surgical, Inc., the number of DA Vinci procedures worldwide has risen by approximately 18%. The need for more minimally invasive surgery by growing geriatric population coupled with the prevalence of chronic disease such as diabetes, HIV/AIDS, asthma, arthritis, and other diseases has increased the demand for robotic surgery services. According to the World Health Organization (WHO) report, there will be a 57 % increase in chronic illness. Therefore, the purchasing power of hospital and ambulatory care services coupled with the increase in the geriatric population and prevalence of chronic illness have contributed to the growth of robotic surgery services market. Safety concerns regarding the use of robotic surgery services are likely to cause a hindrance to the robotic surgery services market. The FDA Safety communication raised a concern in February 2019 about using robotic surgery for mastectomy procedures or for the prevention or treatment of cancer as the effectiveness and safety of these devices is not established. According to the survey of New England Journal of Medicine, the survival rate of patients having minimally invasive surgery compared to patients having open surgery is lower. Over the past two decades more than 8,061 device malfunctions, 1,391 injuries, and 144 deaths occurred in robotic surgery service. Due to such concerns more products have been recalled from the market. On September 2019 Zimmer Biomet has recalled its ROSA brain 3.0 robotic surgery system because of a software problem which can drive the robotic arm to an incorrect position which can risk patient's life. This was identified as a class 1 recall which is the most serious kind of classification by the FDA. These safety concerns lead to more stringent regulations by the regulatory agencies like the FDA, which would in turn increase the cost and time period for the research and development activities. Therefore, the safety issues pertaining to robotic surgeries leading to product recalls is expected to hinder the growth of the robotic surgery services market. Image guide navigation system combined with the robotic surgery system offers more possibility to visualize and perform the minimally invasive surgery in areas which were earlier difficult, especially the orthopaedic surgeries and neurosurgeries. The Mazor X Stealth system by Medtronic, and the NuVasive's Pulse and Excelsius GPS by Globus Medical, among others use image guided navigation system to perform spine surgeries, and orthopaedic implant surgeries such as total, partial knee and hip replacements as they provide the surgeon with 3D experience. The image-guided navigation reduces the radiation effects and patients do not require to take an X-Ray after the procedure. These factors state that the image guided navigation system is expected to be a trend in robotic surgery services. On October 2019, Corindus Vascular Robotics Inc., a leading developer of precision vascular robotics was acquired by Siemens Healthineers AG, a German conglomerate of medical technology offering wide range of products in the fields of diagnostic and therapeutic imaging, laboratory and point of care diagnostics, and molecular medicine, for an amount of USD 1.1 billion. The main aim of this acquisition is to optimize the procedures and to increase the clinical outcomes by collaborating each others' technologies, it also opens a new market for Siemens. The major players covered in the global robotic surgery services market are Intuitive Surgical Inc, Stryker Corporation, Medrobotics Corporation, Johnson & Johnson, Globus Medicals, NuVasive, Smith & Nephew plc, Titan Medical Inc, TransEnterix Inc, University of Pittsburgh Medical Center, Rutland Medical Center, Huntington Hospital, Washington Hospital Healthcare System, The Ottawa Hospital, Michael's Hospital, Charité - Universitätsmedizin Berlin, Ipswich Hospital, Apollo Hospitals Enterprise Limited, HealthCare Global Enterprises Ltd. The countries covered in the global robotic surgery services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global robotic surgery services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global robotic surgery services market is segmented - 1) By Application: General Surgery, Urological Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery, Other Applications 2) By End-User: Hospitals, Ambulatory Surgery Centers (ASCs)

The medical billing outsourcing market consists of sales of medical billing outsourcing services by entities (organizations, sole traders and partnerships) that provide medical billing outsourcing services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing works. Only goods and services traded between entities or sold to end consumers are included. The global medical billing outsourcing market is expected to grow from $8.415 billion in 2020 to $9.528 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.939 billion in 2025 at a CAGR of 15%. The rising need for error minimization contributed to the growth of the medical billing outsourcing market. It is estimated that, in the US, 80% of medical bills contain errors. For instance, Equifax, a credit agency firm, found in its audit that the hospital bills ranging above $10,000 have an average error amount of $1,300. It is also estimated that doctors lose around $125 billion each year due to poor billing practices in the USA. The rising need for error minimization and optimization of the billing process drove the medical billing outsourcing market. The variable cost charged in the medical billing services by the service provider is expected to limit the medical billing outsourcing market. According to the Medical Billing Service Review, there is a price for every service provided by medical billing service providers. The charge on the billing services is a percentage ranging between 3% to 10% per bill indicating more the number of patients, more the hospital or clinic should pay to the service providers. The variable cost in the medical billing services has a negative impact on the medical billing outsourcing market. The medical billing service providers are expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients. For instance, in 2018, eClinicalWorks, a medical billing service provider, launched the cloud-based platform for revenue cycle. In June 2020, R1 RCM, a Chicago-based healthcare revenue management cycle company serving hospitals and physician groups, agreed to acquire Cerner RevWorks for a deal amount of $30 million. The acquisition is expected to extend the comprehensive revenue cycle capabilities of R1 and help drive sustainable financial improvements for healthcare providers and to enhance their patients’ overall experience. The major players covered in the global medical billing outsourcing market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL, Allscripts, R1 RCM, Accretive Health. The countries covered in the global medical billing outsourcing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global medical billing outsourcing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global medical billing outsourcing market is segmented - 1) By Service: Front End, Back End 2) By End User: Hospitals, Physician Offices 3) By Component: In-house, Outsourced

The IVF services market consists of sales of in-vitro fertilization (IVF) services by entities (organizations, sole traders and partnerships) that provide these services. IVF is one of the more widely known types of assisted reproductive technology used to address infertility. IVF is a process of fertilization where an egg is combined with sperm outside the body, in vitro ("in glass"). Only goods and services traded between entities or sold to end consumers are included. The global IVF services market is expected to grow from $12.92 billion in 2020 to $14.34 billion in 2021 at a compound annual growth rate (CAGR) of 11%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.859 billion in 2025 at a CAGR of 12%. The rising infertility rate contributed to the growth of the in vitro fertilization (IVF) services market. Infertility is known as the inability to conceive within 12 months. The global fertility rates fell from 3.2 live births per woman in 1990 to 2.5 live births per woman in 2019. According to the US Department of Health and Human Services, around 12 to 13 couples in 100 have a problem in conceiving. Moreover, according to the Indian Journal of Community Medicine, 15 to 20 million infertility cases are in India alone. The rising infertility rate made people resort to IVF services contributing to the growth of the market. The high cost of IVF services limits the in-vitro fertilization (IVF) services market. For instance, the cost of a basic IVF package ranges from $4,700 to $20,000, and the average price in the USA is around $12,000. The total cost of a single IVF cycle can range between $8,000 to $30,000. According to FertilityIQ, in 2018, the cost of IVF services was around $22,000, which is now increasing. In emerging economies like India, the cost of IVF services ranges from INR 70,000 to INR 300,000. The high cost of IVF services makes it unavailable to low- and middle-income populations negatively affecting the IVF services market growth. Platelet-rich plasma (PRP) is the latest technique increasingly used for improving IVF success rate in patients with recurrent implantation failures. PRP is used alongside fertility treatments like IVF to improve the egg quality, uterine lining thickness and endometrial receptivity, and the treatment is primarily for the recurrent implantation failure over multiple IVF cycles. According to an article published by the Journal of Assisted Reproduction and Genetics, women treated with PRP experienced a significant improvement in Follicle-Stimulating Hormone (FSH), Anti-Müllerian Hormone (AMH) and Antral Follicle Count (AFC) and help improve fertility. In June 2018, Virtus Health, an Australia-based Assisted Reproductive Services (ARS) provider, has acquired Trianglen Fertility Clinic, a Denmark-based fertility clinic for a deal amount of AUD43 million ($32.13 million). The acquisition is expected to reinforce the Virtus international growth strategy and the expansion of the Virtus model. Trianglen fertility clinic was established in 1993 in Copenhagen, Denmark, and in FY2017, Trianglen fertility clinic performed 1,292 cycles in egg retrieval and 366 frozen embryo transfers. The major players covered in the global IVF services market are Ambroise Par Group, amedes MVZ Köln GmbH, AMP Center St Roch, AVA Clinic Scanfert, Bangkok IVF center, Betamedics, Bloom Fertility and Healthcare, Bourn Hall Fertility Center, Biofertility Center, Chelsea and Westminster Hospital (Assisted Conception Unit), Cloudnine Fertility, CHA Fertility Center, Fertility Associates, Genea Oxford Fertility, Klinika Bocian, Morpheus IVF, Manipal Fertility, Southern California Reproductive Center, Monash IVF, ManorIVF, Fertility First, Shanghai Ji Ai Genetics & IVF Institute, Cologne GmbH, Center for Advanced Reproductive Medicine and Infertility, Cardone Reproductive Medicine and Infertility. The countries covered in the global IVF services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global IVF services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global IVF services market is segmented - 1) By Cycle Type: Fresh IVF Cycles (Non-donor), Thawed IVF Cycles (Non-donor), Donor Egg IVF Cycles 2) By Service Provider: Fertility Clinics, Hospitals, Surgical Centers, Clinical Research Institutes 3) By End User: Fertility Clinics, Hospitals & Other Settings

The prenatal testing and newborn screening tests market consists of sales of prenatal testing and newborn screening tests services and related goods by entities (organizations, sole traders and partnerships) that provide prenatal testing and newborn screening tests, which help to determine various genetic and chromosomal diseases, to provide timely medical or surgical treatment of a condition before or after birth. Genetic diseases such as sickle cell, down’s syndrome, cystic fibrosis and muscular dystrophy are detected with the help of these tests. Only goods and services traded between entities or sold to end consumers are included. The global prenatal testing & newborn screening market is expected to grow from $4.178 billion in 2020 to $4.679 billion in 2021 at a compound annual growth rate (CAGR) of 12%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.018 billion in 2025 at a CAGR of 14%. The high prevalence of genetic diseases in infants contributed to the growth of the prenatal testing and newborn screening market. According to the World Health Organization, genetic disease includes diseases such as Thalassemia, Sickle Cell Anaemia, Haemophilia, Cystic Fibrosis, Tay Sachs disease, Fragile X Syndrome, Huntington’s disease. The sickle cell anaemia is one of the genetic diseases that affects millions throughout the world, and the disease is particularly common among people whose ancestors are from Africa, America, Cuba, Central America, Saudi Arabia, India. According to a 2019 study, the disease occurs for 1 in every 500 African American births, and 1 in 12 African-American carry the sickle cell allele. The high prevalence of genetic diseases in infants boosted the demand for prenatal testing and newborn screening market. Growth of the prenatal testing and newborn screening market may be hampered by the relatively low healthcare access in most developing countries, compared to the developed nations. For instance, in India, there were only about 1.9 million hospital beds for 1.33 billion people, as of 2020. Low access to healthcare services and the lack of sufficient hospitals and healthcare professionals harmed market growth in many developing nations. Moreover, low disposable income in many countries further lowers the access to healthcare services, thus negatively hampering the growth of the prenatal testing and newborn screening market. The use of machine learning and artificial intelligence is gradually gaining popularity in the prenatal testing and newborn screening market. Artificial intelligence (AI) is the simulation of human intelligence in machines. Machine learning is a part of AI. Machine learning and AI help companies in the prenatal testing and newborn screening market to conduct a detailed analysis of all relevant data, provide insights about different diseases, and offer a more accurate evaluation of tissue samples. For instance, in December 2017, Eone-Diagnomics Genome Center (EDGC), a Korean genetic analysis company, announced its decision to apply machine learning-based artificial intelligence (AI) technology to its non-invasive prenatal test (NIPT) NICE®0. In 2019, AI specialist FDNA and PerkinElmer Genomics partnered to launch Face2Gene Labs for newborn testing. In March 2020, Thermo Fisher Scientific Inc announced its decision to acquire Qiagen for $11.5 billion. Thermo Fisher has a specialty diagnostics capability, that includes allergy, autoimmunity, transplant diagnostics, and oncology testing. The acquisition is expected to complement the Thermo Fisher’s genetic analysis and bioscience capabilities. Qiagen is a Germany-based genetic tester that was founded in 1984 and operates more than 35 offices in over 25 countries. The major players covered in the global prenatal testing & newborn screening market are PerkinElmer, Progenity, Laboratory Corporation of America Holdings (Sequenom), Natera, Invitae, Centogene, Cradle Genomics, Roche Diagnostics, Quest Diagnostics, Baebies, Progenity, Ravgen, Strand life sciences, Eurofins scientific. The countries covered in the global prenatal testing & newborn screening market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global prenatal testing & newborn screening market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global prenatal testing & newborn screening market is segmented - 1) By Diagnostic Type: Non-Invasive, Invasive 2) By Technology: Screening Technology, Diagnostic Technology 3) By End User: Hospitals, Diagnostic Centers