Global Genomics Market

The community oncology services market consists of sales of community oncology services by entities (organizations, sole traders and partnerships) of health practitioners who practice community oncology as a private physician-owned business not part of a hospital or academic or medical teaching institution. The community oncology practice may be only a single oncologist, with one office and a support staff of physician extenders, nurses, pharmacists, or pharmacy technicians and other staff. Only goods and services traded between entities or sold to end consumers are included. The global community oncology services market is expected to decline from $77.4 billion in 2019 to $70.98 billion in 2020 at a compound annual growth rate (CAGR) of -8.29%. The decline is mainly due to the acquisitions of private healthcare institutions and changes in patients preference to choose other healthcare providers due to ease of insurance claim processes. The market is further expected to decline to $70.38 billion in 2023 at a CAGR of -0.29%. The lower-cost care in community oncology centers is anticipated to boost the demand for the community oncology service market. The cancer care services are considered to be cost-effective in community oncology centers as compared to hospitals. According to the Community Oncology Alliance’s report published in October 2018, the cost of cancer care per patient per month for various tumors in community-based clinics (CCs) was approximately $12,000 whereas the cost of cancer care in hospital-based oncology clinics (HCs) was about $20,000. Furthermore, the cost per patient per month for treatment of chemotherapy in a community setting was nearly $5,000 compared to around $8,500 in hospital-based clinics. Hence, the low cost of community oncology settings or community oncology centers is expected to drive the demand for the community oncology services market over the forecast years. Coronavirus outbreak is likely to act as a major restraint for the growth of the community oncology services market during the forecast period. The World Health Organization (WHO) declared the COVID-19 outbreak as pandemic on March 11, 2020. Coronavirus has created a significant risk of mortality for cancer patients worldwide. COVID-19 is predicted to have a long-term impact on oncology practices. According to a survey conducted by the Medical Group Management Association in April 2020, the healthcare practices recorded a decline of 55% in the revenue and a 60% decline in the patient volume since the beginning of the COVID-19 pandemic. Moreover, according to a survey of 51 USA oncologists conducted by MJH Life Sciences during May 2020, 73% of the oncologist limited their surgeries to urgent cases, 53% modified dosing regimens to reduce in-patient visits, and 71% had canceled routine office visits of the patients. Therefore, the coronavirus outbreak has caused a rapid decline in overall oncology in-person services, subsequently impacting the community oncology services market. Major companies are undergoing various acquisition and research collaboration in the community oncology services market to expand their services and offerings, which is gaining significant popularity over the recent years. According to a report published by Community Oncology Alliance in April 2020, the rate of community oncology practices acquired by hospitals increased by 9.7% during 2018 and 2020. For instance, in August 2020, The Community Cancer Center, a US-based clinic engaged in providing community-based cancer care, was acquired by Carle Health. Carle Health is a US-based hospital and healthcare company with more than 9,500 employees in its five hospitals and associated healthcare business. In addition to this, in May 2019, Amgen Inc., a US-based biopharmaceutical company, announced the new research collaborations with community oncology networks. Amgen Inc., also launched Amgen Community Oncology Research Collaborators (ACORC), a new initiative to improve access to innovative oncology clinical research for community centers. In May 2019, Amgen announced its decision to collaborate with community oncology service providers such as US Oncology Research and TRIO-US to enhance access by community centers to innovative oncology clinical research. This collaboration is expected to allow Amgen to significantly expand its clinical research footprint to more than 200 patient care sites across the U.S. and help community centers reach more than 900,000 new patients each year with investigational medicines.

The fertility services market consists of sales of infertility treatment services and related products by entities (organizations, sole traders and partnerships) that provide infertility treatment services which are used in various applications to treat infertile patients. Fertility treatment is a medical procedure intended to increase the chances of conceiving a child. Only goods and services traded between entities or sold to end consumers are included The global fertility services market is expected to decline from $17.67 billion in 2019 to $16.95 billion in 2020 at a compound annual growth rate (CAGR) of -4.08%. The decline is mainly due to the COVID-19 outbreak that has led to deferred care in order to avoid visiting hospitals, which resulted in reduced patient volume. The market is then expected to recover and reach $22.47 billion in 2023 at a CAGR of 9.86%. Growing infertility rates are anticipated to boost the demand for fertility services during the forecast period. Various social and environment-related factors such as lifestyle changes including obesity, stress or depression, and high consumption of alcohol contribute to a surge in infertility rates, thereby generating the high requirement for fertility services. According to the Indian Journal of Community Medicine, as of 2019, around 15 to 20 million or 25% of the couples suffer from infertility annually, thus driving the demand for fertility services. The high cost of fertility services is expected to limit the growth of the fertility services market. The cost of in-vitro fertilization (IVF) primarily depends on infertility workup and varies from person to person. For instance, the average cost of one in-vitro fertilization (IVF) cycle is $12,000. The range of cost involved in one IVF cycle can be between $10,000 and $15,000, which excludes the cost of medication which may be as low as $1,500 or as high as $3,000 per cycle. The IVF cost is continuously rising attributing to modern diagnostic tests and various treatment methods such as hysteroscopy, IUI, and laparoscopy being used to facilitate and aid infertility treatment cost. Therefore, the high cost of fertility treatment is to act as a major challenge for the development of the fertility services market. Companies in the fertility services market have witnessed significant growth in the number of research collaborations as well as research funding approvals. Key companies operating in the market are projected to increase their R&D expenditure to introduce new advanced techniques and drugs used for fertility treatments. For instance, in June 2019, Thermo Fisher Scientific announced a research collaboration with Predictive Laboratories, a wholly-owned subsidiary of Predictive Technology Group, Inc., concentrating on studying the genetic factors causing infertility in women. The collaboration is expected to utilize Thermo Fisher Scientific`s offerings for reproductive health including Ion ReproSeq PGS Assay, Applied Biosystems CarrierScan Assay, Ion AmpliSeq Exome RDY for whole-exome sequencing, and CytoScan Dx Assay. Furthermore, in March 2019, Olympus Corporation, a Japan-based company, announced a collaboration with the Jikei University School of Medicine to develop AI-assisted sperm selection, which aims to reduce the workload in intracytoplasmic sperm injection (ICSI). The research is expected to help embryologists to select good sperm. In July 2019, Monash IVF Group, an Australia-based IVF company, acquired Fertility Solutions, a Queensland-based provider of fertility services for $1.43 million (AUD 2.1 million). The company acquired certain assets, liabilities, and contracts of Fertility Solutions. The acquisition is expected to expand the geographical presence of Monash IVF Group with two clinics of Fertility Solutions located in Bundaberg and Sunshine Coast. Fertility Solutions was established in 2007 and is engaged in providing affordable and high-quality options for fertility services. The company operates as an assisted reproductive service (ARS) clinic with locations in Bundaberg and Buderim.

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.

Retirement Communities Market Definition

The retirement communities market consists of sales of retirement community care services and related goods by entities that provide accommodation and nursing care services for the elderly who are generally able to care for themselves but might require assistance from home care agencies. The care in retirement communities’ service typically includes room, board, supervision, and assistance in daily living, such as housekeeping services. Activities and socialization opportunities are often provided by retirement communities. The major clientele for retirement communities is the population aged 60 years and above.

Psychiatrists Market Definition

The psychiatrists market consists of sales of psychiatrists services and related goods by entities (organizations, sole traders and partnerships) that provide the diagnosis, treatment and prevention of mental, emotional and behavioral disorders. The psychiatrists industry includes establishments of licensed practitioners having the degree of M.D. (Doctor of Medicine) or D.O. (Doctor of Osteopathic Medicine) that provide palliative care, treat psychosomatic disorders, mental disorders and others. Psychiatrists operate private or group practices in their own offices (e.g., centers, clinics) or in the facilities of others, such as hospitals or health maintenance organization (HMO) medical centers.

Truck Transportation Market Characteristics

The truck transportation market consists of sales of truck transportation services by entities (organizations, sole traders and partnerships) that provide over-the-road transportation of cargo using motor vehicles, such as trucks and tractor trailers. This market does not include household and office goods transportation services, which is a specialized industry.

Dimension Stone Mining Market Characteristics

The dimension stone mining and quarrying market consists of sales of dimension stone by entities (organizations, sole traders and partnerships) that mine and quarry dimension stone such as rough blocks or slabs of stone. Dimension stone is a natural rock that is cut into various sizes for use in the construction and monument industries. Dimension stone products include blocks of rock such as marble, granite, limestone, sandstone and slate. Subsequent to cutting and polishing, these stones are used in the construction of buildings and monuments, and also as exterior and as interior decorative materials on buildings.

Crushed Stone Mining Market Characteristics

The crushed and broken stone mining and quarrying market consists of sales of crushed and broken stone by entities (organizations, sole traders and partnerships) that mine and quarry crushed and broken stone. Crushed and broken stones are majorly used as aggregate in construction. These are also sued in making cement, lime and other chemical applications.