Medical Tourism Global Market Report 2023 – By Treatment Type (Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Bariatric Treatment, Fertility Treatment, Opthalmic Treatment, Other Treatments), By Type (Domestic, International), By Healthcare Service (Medical Treatment, Wellness, Alternative Treatment),By Service Providers(Public, Private) – Market Size, Trends, And Global Forecast 2023-2032

Medical billing outsourcing services are services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing. The main types of services in medical billing outsourcing are the front end and back end. The front-end is in charge of the patient experience, while the back-end is in charge of claims processing and reimbursement. To push income across the cycle, each component has its own departments, people, and policies. The different components include in-house, and outsourced and are used by various sectors such as hospitals and physician offices. 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 global medical billing outsourcing market size grew from $13.56 billion in 2022 to $15.12 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical billing outsourcing market is expected to grow from $23.76 billion in 2027 at a CAGR of 12.0%. 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 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. Major players in the medical billing outsourcing market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL and Allscripts. 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 2021, Epic Systems, a US based software company providing cloud-based medical software that may be used by a wide range of practice kinds and sizes. With built-in EHR, medical billing and coding, patient management features, and more, their platform provides complete Revenue Cycle Management (RCM) capability. In June 2020, R1 RCM, a US-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. North America was the largest region in the medical billing outsourcing market in 2022. Western Europe was the second largest region in the global medical billing outsourcing market analysis. The regions covered in the global medical billing outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical billing outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical billing outsourcing market includes revenues earned by entities by providing Medical Billing Services, medical coding services, patient demographic entry, submission of claims, medical coding analysis services, and ASC billing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The medical billing outsourcing market research report is one of a series of new reports from The Business Research Company that provides medical billing outsourcing market statistics, including medical billing outsourcing industry global market size, regional shares, competitors with a medical billing outsourcing market share, detailed medical billing outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the medical billing outsourcing industry. This medical billing outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Medical equipment are devices that can be instrument, apparatus or machine that can be used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting or modifying the structure or function of the body for health purpose. The main types of medical equipment are in-vitro diagnostics, dental equipment and supplies, ophthalmic devices, diagnostic imaging equipment, cardiovascular devices, hospital supplies, surgical equipment, orthopedic devices, patient monitoring devices, diabetes care devices, nephrology and urology devices, ENT devices, anesthesia and respiratory devices, neurology devices, and wound care devices. In-vitro diagnostics are tests done on samples like blood or tissue that is taken from the human body. In-vitro diagnostics will detect diseases or other conditions and are used to monitor a person’s overall health to cure, treat, or prevent diseases. The type of expenditure involved is public and private. The various product are instruments/equipment and disposables. The various end users involved are hospitals and clinics, homecare, diagnostics centres, and others. The global medical equipment market is segmented - 1) By Type: In-Vitro Diagnostics, Dental Equipment And Supplies, Ophthalmic Devices, Diagnostic Imaging Equipment, Cardiovascular Devices, Hospital Supplies, Surgical Equipment, Orthopedic Devices, Patient Monitoring Devices, Diabetes Care Devices, Nephrology And Urology Devices, ENT Devices, Anesthesia And Respiratory Devices, Neurology Devices, Wound Care Devices 2) By Type of Expenditure: Public, Private 3) By Product: Instruments/Equipment, Disposables 4) By End User: Hospitals And Clinics, Homecare, Diagnostics Centers, Other End Users Subsegments Covered: Point-of-Care Diagnostics Devices And Equipment, Immunochemistry Diagnostic Devices And Equipment, Clinical Chemistry Diagnostics Devices And Equipment, Molecular Diagnostics Devices And Equipment, Microbiology Diagnostic Devices And Equipment, Hemostasis Diagnostic Devices And Equipment, Hematology Diagnostic Devices And Equipment, Immunohematology Diagnostic Devices And Equipment, Therapeutic Dental Equipment, General Dental Devices And Equipment, Dental Diagnostic Imaging Devices And Equipment, Dental Surgical Devices And Equipment, Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment, X-Ray Systems Devices And Equipment, Ultrasound Systems Devices And Equipment, Computed Tomography (CT) Scanners Devices And Equipment, Magnetic Resonance Imaging Systems Devices And Equipment, Cardiovascular Monitoring And Diagnostic Devices And Equipment, Nuclear Imaging Devices And Equipment, Cardiovascular Surgery Devices And Equipment, Cardiac Rhythm Management (CRM) Devices And Equipment, Interventional Cardiology Devices And Equipment, Defibrillator Devices And Equipment, Peripheral Vascular Devices And Equipment, Prosthetic Heart Valve Devices And Equipment, Electrophysiology Devices And Equipment, Cardiac Assist Devices And Equipment, Disposable Hospital Supplies, Sterilization Equipment And Disinfectants, Mobility Aids And Transportation Equipment, Operating Room Equipment, Surgical Sutures And Staples, Handheld Surgical Devices And Equipment, Electrosurgical Devices And Equipment, Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics, Orthopedic Accessories,, Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices And Equipment, Vital Parameter Monitoring Devices And Equipment, Remote Patient Monitoring Devices And Equipment, Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters, Dialysis Devices And Equipment, Urinary Stone Treatment Devices And Equipment, Urinary Incontinence & Pelvic Organ Prolapse Devices And Equipment, Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment, Endoscopy Devices And Equipment, Hearing Aid Devices And Equipment, Hearing Diagnostic Devices And Equipment, ENT Surgical Devices And Equipment, Hearing Implants, Voice Prosthesis Devices And Equipment, Nasal Splints, Respiratory Devices And Equipment (Therapeutic And Diagnostic), Anesthesia Machines, Anesthesia Disposables, Respiratory Disposables, Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices, Traditional Adhesive Dressings, Negative-pressure Wound Therapy (NPWT), Traditional Gauze Dressings, Advanced Wound Care Devices The global medical equipment market grew from $639.75 billion in 2022 to $695.05 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global medical equipment is expected to grow to $922.39 billion in 2027 at a CAGR of 7.3%. The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally, by the year 2020. This is increasing the demand for medical devices used in the diagnosis, prognosis, and treatment of several diseases, thereby driving the demand for medical equipment. These factors are expected to increase the patient pool globally, thereby driving the growth of the medical equipment market during the forecast period. Major companies in the medical equipment market include Medtronic Inc., Abbott Laboratories, Johnson & Johnson, Cardinal Health, Inc., Becton Dickinson, Siemens AG, STRYKER CORPORATION, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., and Boston Scientific Corporation. Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients. These changes are related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes. For instance, according to cookieyed data 2021, in the US, PwC reported that 68% of 200 businesses surveyed intended to spend between $1 million and $10 million to comply with GDPR regulations. The GDPR regulation is an EU law on data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA). It also regulates the export of personal data outside the EU and EEA areas. Additionally, the FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts a strain on investments relating to new product development, thereby affecting the growth of the medical equipment market. Device performance and patient data are available to healthcare service providers and are helping them to improve patient monitoring and overall care quality. Some companies are integrating medical equipment market data with EMR (Electronic Medical Records) to improve transparency and collaboration. As consumer wearables are becoming more common, patient data volumes are increasing and companies are investing in deploying data management, warehousing, and security technologies. For example, Medtronic launched a tool to augment their cardiac devices to securely transfer device data to doctors and allow them to monitor the critical health indicators of their patients. North America was the largest region in the global medical equipment market in 2022. Asia-Pacific was the second largest region in the global medical equipment market share. The regions covered in the medical equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the medical equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The medical equipment market consists of sales of devices used in the diagnosis, treatment and monitoring of medical conditions. The market includes diagnostic devices, imaging devices, surgical devices and patient monitoring devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in the medical equipment market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified medical equipment market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the medical equipment market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The medical equipment market research report is one of a series of new reports from The Business Research Company that provides medical equipment market statistics, including medical equipment industry global medical equipment market size, regional shares, competitors with a medical equipment market share, detailed medical equipment market segments, medical equipment market trends and opportunities, and any further data you may need to thrive in the medical equipment industry. This medical equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Bariatric surgery devices refer to surgical devices used in bariatric surgery to reduce the weight of an individual by reducing the size of the stomach. Bariatric surgery devices are FDA-approved surgical equipment or devices used for surgeries performed in the gastrointestinal tract for facilitating weight loss for individuals with obesity or severe obesity. The main types of bariatric surgery devices include minimally invasive surgical devices, stapling devices, energy/vessel sealing devices, suturing devices, accessories, and non-invasive surgical devices. Minimally invasive surgical devices refer to surgical instruments specifically designed to perform the procedure through a small incision in the body rather than a large opening that benefits patients including reduced blood loss, minimal tissue damage, and faster recovery and rehabilitation time. These surgical devices are used in various procedures ranging from sleeve gastrectomy, gastric bypass, revision bariatric surgery, non-invasive bariatric surgery, adjustable gastric banding, mini-gastric bypass, and biliopancreatic diversion with duodenal switch. These surgical devices are widely used by clinics, hospitals, specialty centers, and ambulatory surgical centers. The global bariatric surgery devices market is segmented - 1) By Type: Minimally Invasive Surgical Devices, Stapling Devices, Energy/Vessel Sealing Devices, Suturing Devices, Accessories, Non-invasive Surgical Devices 2) By Procedure: Sleeve Gastrectomy, Gastric Bypass, Revision Bariatric Surgery, Non-invasive Bariatric Surgery, Adjustable Gastric Banding, Mini-gastric Bypass, Biliopancreatic Diversion with Duodenal Switch 3) By End User : Clinics, Hospitals, Specialty Centers, Ambulatory Surgical Centers The global bariatric surgery devices market size grew from $1.72 billion in 2022 to $1.86 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the bariatric surgery devices is expected to grow to $2.49 billion in 2027 at a CAGR of 7.6%. The growing obese population is significantly contributing to the growth of the bariatric surgery devices market. Obesity refers to the abnormal or excessive accumulation of fat, which might impair the health of individuals. In recent years, obesity has become a public health challenge across the globe, with a substantial contribution to global mortality and morbidity. The growing utilization of surgical procedures by obesity population across the globe to mitigate fat deposits are expected to boost demand for bariatric surgery devices. For instance, according to the World Health Organization (WHO), over 1 billion people globally are obese currently (2022), out of which 650 million accounts for adults, 340 million are adolescents and 39 million are children. Therefore, an increase in the obese population will contribute to the growth of the bariatric surgery devices market. Major players in the bariatric surgery devices market are Ethicon (Johnson & Johnson), Medtronic, Intuitive Surgical, ReShape Lifesciences, Aspire Bariatrics, Mediflex Surgical Products, Spatz FGIA, Cousin Biotech, Olympus Corporation of the Americas, GI Dynamics, USGI Medical, Asensus Surgical US Inc., and Smith & Nephew. Technological advancement is a key trend gaining popularity in the bariatric surgery devices market. Key players operating in the bariatric surgery devices market are focusing on developing technologically advanced products to meet the surgical demands and strengthen their position in the market. These developments include devices that offer improved features for better outcomes in bariatric surgery while reducing risks during the procedure. For instance, in September 2021, Olympus Corporation, a Japan-based medical technology company launched POWERSEAL advanced bipolar surgical energy devices. POWERSEAL provides surgeons with state-of-the-art sealing, dissection, and grasping capabilities in laparoscopic or open surgery while highly reducing the force required by the surgeon to close the jaws. It can be used in various forms of surgical procedures including bariatric surgery, general surgery and gynaecological, colorectal, urological, and other surgeries. In February 2020, Medtronic plc, an American medical device company acquired Digital Surgery for an undisclosed amount. The acquisition by Medtronic focused on utilizing the in-house team of digital surgery for the development of pedestal-based robot surgery systems, which can be used in general, urology, gynaecology, thoracic, colorectal, and bariatric procedures. Digital Surgery is a UK-based developer of digital surgical tools utilizing advanced technologies such as next-generation computing, AI, visualization, and other tools. North America was the largest region in the bariatric surgery devices market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bariatric surgery devices market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the bariatric surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The bariatric surgery devices market consists of sales of calipers and gauges, curettes, dissectors and probes, elevators and spreaders, forceps and graspers, gouges, osteotomes, and rongeurs, hooks and instrument handles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The bariatric surgery devices market research report is one of a series of new reports from The Business Research Company that provides bariatric surgery devices market statistics, including bariatric surgery devices industry global market size, regional shares, competitors with a bariatric surgery devices market share, detailed bariatric surgery devices market segments, market trends and opportunities, and any further data you may need to thrive in the bariatric surgery devices industry. This bariatric surgery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Medical device outsourcing is a process in which a company outsources the manufacturing process of a medical device to another company. The main types of products in medical device outsourcing are finished goods, electronics, and raw materials. Products that have passed or completed the production process but have not yet been sold or dispersed to the ultimate consumer are referred to as finished goods. The various device types are class I devices, Class II devices, and class III devices that provide services such as quality assurance, regulatory affair services, product design development, product testing, and sterilization, product implementation, product upgrade, product maintenance, and contract manufacturing. It has various applications including drug delivery, dental, diabetes care, cardiology, endoscopy, IVD, ophthalmic, diagnostic imaging, orthopedics, and general and plastic surgery. The global medical device outsourcing market is segmented – 1) By Product: Finished Goods, Electronics, Raw Materials 2) By Device Type: Class I Devices, Class II Devices, Class III Devices 3) By Services: Quality Assurance, Regulatory Affair Services, Product Design Development, Product Testing And Sterilization, Product Implementation, Product Upgrade, Product Maintenance, Contract Manufacturing 4) By Application: Drug Delivery, Dental, Diabetes Care, Cardiology, Other Applications The global medical device outsourcing market size grew from $114.95 billion in 2022 to $129.4 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global medical device outsourcing is expected to grow to $204.25 billion in 2027 at a CAGR of 12.1%. The prevalence of chronic diseases is expected to propel the growth of the medical device outsourcing market going forward. Chronic diseases are the conditions that last 1 year or more and require ongoing medical attention or limit activities of daily living or both. The rising chronic diseases increase the demand for new quality medical products in less launch time thereby driving the growth of the medical devices outsourcing market. For instance, according to the UN Chronicle, a digital magazine of the United Nations, the global burden of chronic diseases is expected to reach about 56% by 2030. Therefore, the prevalence of chronic diseases will drive the growth of the medical device outsourcing market. Major players in the medical device outsourcing market are Flex Ltd., Integer Holdings Corporation, Plexus Corp., Toxikon Inc., Eurofins Scientific SE, Pace Analytical Services Inc., WuXi AppTec Inc., North American Science Associates Inc., Charles River Laboratories International Inc., Creganna, IQVIA, Mitutoyo Corporation, Cardinal Health Inc., Onex Corporation, Te Connectivity Ltd., Nortech Systems Incorporated, Sanmina Corporation, and Sterigenics International LLC. Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the medical device outsourcing market. Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in December 2021, Labcorp, a US-based laboratory testing company acquired Toxikon Corporation for an undisclosed amount. This acquisition would extend Labcorp’s portfolio of full-service drug development and medical device solutions from discovery to market approval. Toxikon Corporation is a US-based contract manufacturing company that provides outsourcing services for medical devices. Furthermore, in February 2020, Integer Holdings, a US-based advanced medical device outsourcing company acquired Inomec for an undisclosed amount. This acquisition of Inomec will allow Integer to establish a research and development and sales center in Israel, in addition to optimizing its catheter design, clinical, and pilot manufacturing capabilities. Income is an Israel-based medical device outsourcing company. In December 2021, Integer Holdings, a US-based advanced medical device outsourcing company, acquired Oscor Inc. for $220 million. This acquisition of Oscor strengthens Integer’s ability to serve customers by expanding the product offering in steerable sheaths and cardiac and neurostimulation leads and adding low-cost manufacturing capacity to support growth. Oscor is a US-based company that operates in medical device outsourcing services. North America was the largest region in the medical device outsourcing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device outsourcing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the medical device outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical device outsourcing market includes revenues earned by entities by providing services such as design and development. Components and devices manufacturing, process validation and verification, Packaging, regulatory consultation, and full services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The medical device outsourcing market research report is one of a series of new reports from The Business Research Company that provides medical device outsourcing market statistics, including medical device outsourcing industry global market size, regional shares, competitors with a medical device outsourcing market share, detailed medical device outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the medical device outsourcing industry. This medical device outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Fertility treatment is a medical treatment provided to a man or a woman to increase their chances of bearing an offspring. It is used to treat infertile patients. Hormone and ovulation-supporting medicines are frequently used in fertility treatments, sometimes in conjunction with minor surgical procedures. The main product types of fertility are reagents, and equipment. A reagent is a material or compound that is added to a system to produce a chemical reaction or to determine whether or not a reaction occurred. The treatments are performed on female and male in fertility clinics, hospitals, surgical centers, and clinical research institutes. The global fertility treatments market is segmented - 1) By Product: Reagents, Equipment 2) By End-User: Fertility Clinics, Hospitals, Surgical Centers, Clinical Research Institutes 3) By Patient Type: Female, Male The global fertility treatments market size grew from $15.26 billion in 2022 to $16.48 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the fertility treatments is expected to grow from $22.77 billion in 2027 at a CAGR of 8.4%. The growth in the median age of first-time motherhood combined with change in lifestyle increased the difficulty of conceiving, increasing the demand for fertility treatment. The median age of first-time motherhood has increased all over the globe due to late marriages, contraceptive techniques, and an increase in the number of women who prioritize their careers over starting a family. In 2020, the average age of first-time mothers in America has risen from 21 to 26. Women in other developed countries are also deferring, with the typical first birth occurring at the age of 31 for new mothers. In this scenario, a growing number of women are opting for IVF treatments, which is expected to drive the fertility treatments market. Major players in the fertility treatment market are Apollo Hospitals Enterprise Ltd., Care Fertility Group, Genea Limited, The Johns Hopkins Health System Corp., Medicover Group, Monash IVF Group, Progyny Inc., Vitrolife, Carolinas Fertility Institute, OvaScience Inc., Xytex Cryo International, Merck KGaA, Cook Medical, CooperSurgical Inc., Instituto Bernabeu, INVO Bioscience, The Cooper Companies Inc., Virtus Health, CryoChoice LLC., Millendo Therapeutics Inc., FUJIFILM Irvine Scientific, LABOTECT GMBH, Fertility Focus, Olympus Corporation, Irvine Scientific sales Company Inc., and Ferring Pharmaceuticals. The high cost and low success rate of In vitro fertilization (IVF) treatment is a major factor that limits the growth of the fertility treatments market. In vitro fertilization is a fertilization process in which an egg is fertilized with sperm outside the body, in vitro. In vitro fertilization (IVF) treatment costs differ in many countries due to the lack of refund policies. Moreover, insurance companies usually do not cover infertility treatments. According to the American society of reproductive medicine, in the USA, the average cost of an IVF cycle is $12,400 and the average cost of an IVF cycle using fresh embryos is $8,158 with a median cost at $7,500. The rate of success of IVF treatments is only 28% to 35%, which decreases with the increase in woman's age. For example, for women, the success rate is 32.2% under 35 and 1.9% for women aged over 44. Thus, the high cost and low success rate of IVF treatment restrict the growth of the fertility treatment market. Development of new techniques to treat infertility using a human’s body is a key trend in the fertility treatments market. INVOcell is an IVF alternative that uses the woman’s body to support fertilization, thus eliminating the cost of a laboratory incubator. The INVOcell device is placed with the eggs and sperm in the vaginal cavity, allowing for the stability of the natural environment, pH, and gas to help in fertilization. INVOcell, which is made in Medford, Massachusetts by INVO Bioscience, costs around $6,800 including medication. Although IVF generated more quality embryos, the birth rates between IVF and INVOcell are similar. According to the journal of assisted reproduction and genetics, 12 out of 20 women gave birth to 15 babies in IVF including three sets of twins and 11 out of 20 women gave birth to 16 babies in INVOcell group including five sets of twins. In August 2022, CCRM Fertlity, an American fertility treatment company, acquired Institute for Reproductive Medicine & Sciences (IRMS) for an undisclosed amount. The acquisition would add world class proprietary reproductive medicine offerings to the CCRM’s portfolio and expand its footprint across 11 major metropolitan areas with 34 locations across the US and Canada. Institute for Reproductive Medicine and Science (IRMS) is a US-based fertility research and treatment company having its presence in major metropolitan areas. North America was the largest region in the fertility treatment market in 2022. Western Europe was the second largest region in the global fertility treatment market share. The regions covered in the global fertility treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the fertility treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The fertility treatment market includes revenues earned by entities by providing medicinal services, surgical services, and assisted services such as in vitro fertilization. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The fertility treatment market research report is one of a series of new reports from The Business Research Company that provides fertility treatment market statistics, including fertility treatment industry global market size, regional shares, competitors with a fertility treatment market share, detailed fertility treatment market segments, market trends and opportunities, and any further data you may need to thrive in the fertility treatment industry. This fertility treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Healthcare and medical simulation allows medical professionals to practise tasks in realistic settings by means of tools and models prior to working in real-world scenarios and offers opportunities to increase patient safety, reduce healthcare costs, and improve learners’ competence and confidence. It is used to educate and train healthcare professionals. The main healthcare and medical simulation products and services include healthcare anatomical models, web-based simulation, healthcare simulation software, and simulation training services. Healthcare anatomical models are used to deliver a digital representation of some or all of the anatomy of the human body. The main healthcare and medical simulation technologies are high-fidelity simulators, medium-fidelity simulators, and low-fidelity simulators that are used by end-users such as academic institutes, hospitals, and military organizations. The global healthcareormedical simulation market is segmented - 1) By Product And Services: Healthcare Anatomical Models, Web-Based Simulation, Healthcare Simulation Software, Simulation Training Services 2) By End-User: Academic Institutes, Hospitals, Military Organizations 3) By Technology: High-Fidelity Simulators, Medium-Fidelity Simulators, Low-Fidelity Simulators The global healthcare/medical simulation market size will grow from $2.95 billion in 2022 to $3.41 billion in 2023 at a compound annual growth rate (CAGR) of 15.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the healthcare/medical simulation is expected to grow to $6.04 billion in 2027 at a CAGR of 15.4%. The demand for minimally invasive surgical procedures globally has contributed to the growth of the healthcare/medical simulation market. Minimally invasive surgery (MIS) involves small surgical incisions to gain access to the body and its organs, which results in less injury and damage to the patient. Medical simulation techniques are used to train the skills necessary for MIS, which allows professionals to perform surgical and interventional procedures without risk to real patients. For instance, in January 2022, Intuitive Surgical, a US-based company operating in minimally invasive care and the pioneer of robotic-assisted surgery, global da Vinci procedures, a robotic surgical method that uses minimally invasive surgical approach, increased by about 28% in the year 2021 as compared to its previous year. Additionally, in 2021, the company shipped 1,347 da Vinci Surgical Systems, a 44% increase from the 936 systems shipped in 2020. This increased demand is spurred by the low cost and better outcomes compared to traditional surgeries. Major players in the healthcare/medical simulation market are 3B Scientific, 3D Systems, CAE, Inc., 3DMed, Kyoto Kagaku Co., Ltd., Altay Scientific, Limbs & Things Ltd., Surgical Science, Intelligent Ultrasound Group PLC., Mentice AB, IngMar Medical, Simulab Corporation, Simulaids, Inc., VirtaMed AG, KaVo Dental GmbH, Simendo, Cardionics, Epona, HRV Simulation, Inovus Medical, Tellyes Scientific Co., Ltd., Symgery, Synaptive Medical, and VRMagic Holding AG. The development of advanced procedure simulators is a key trend in the healthcare and medical simulation market. For instance, in February 2021 Elsevier, a Netherland-based research publishing and information analytics company, partnered with SimX, a UK-based healthcare software company specializing in medical simulation, and announced the launch of the Simulation Learning System (SLS) for RN integrated with virtual reality technology for healthcare professionals, to offer nursing schools the ability to facilitate clinical simulations with an effective solution for nursing schools experiencing limitations with in-person labs and clinical rotations due to the COVID-19 restrictions to avoid disrupting learning continuity for students. Using this Simulation Learning System (SLS) with virtual reality the students are instantly immersed in a dynamic clinical environment and are surrounded by all the instruments and resources found in a regular healthcare setting to offer simulated clinical experiences that help students gain clinical judgement skills and enhance learning outcomes. In December 2020, Elsevier, a UK-based global leader in research publishing and information analytics, acquired Shadow Health for an undisclosed quantum. Through this acquisition, Elsevier will expand its portfolio of digital health results with Shadow Health’s digital clinical tests and allow learners to develop clinical and communication chops. This will further encourage nurses and healthcare professionals to amend patient issues. Shadow Health is a US-based digital clinical experience company. North America will be the largest region in the healthcare/medical simulation market in 2022. The regions covered in the healthcare/medical simulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the healthcare/medical simulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The healthcare and medical stimulation market includes revenues earned by entities by providing hardware and software that can be used in healthcare organization to make stronger decisions that reduce risk to patients, staff and financial investment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The healthcare/medical simulation market research report is one of a series of new reports from The Business Research Company that provides healthcare/medical simulation market statistics, including healthcare/medical simulation industry global market size, regional shares, competitors with a healthcare/medical simulation market share, detailed healthcare/medical simulation market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare/medical simulation industry. This healthcare/medical simulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Medical equipment maintenance refers to a set of activities conducted to keep the equipment in working condition. Medical equipment needs to be maintained in working order and periodically calibrated for the effectiveness and accuracy of the results. The main types of services in medical equipment maintenance are preventive maintenance, corrective maintenance, and operational maintenance. Preventive maintenance is the process of maintaining equipment and assets regularly to keep them working and avoid costly unplanned downtime due to unexpected equipment breakdowns. The different technologies include multi-vendor OEMS, single-vendor OEMs, independent service organization, and in-house maintenance and involve various devices such as imaging equipment, endoscopic devices, surgical instruments, and electro-medical equipment. It is implemented in various areas such as hospitals, diagnostic imaging centers, dialysis centers, ambulatory surgical centers, dental clinics, and specialty clinics, among others. The global medical equipment maintenance market is segmented - 1) By Service Type: Preventive Maintenance, Corrective Maintenance, Operational Maintenance 2) By Device: Imaging Equipment, Endoscopic Devices, Surgical Instruments, Electro-medical Equipment 3) By Technology: Multi-Vendor OEMs, Single-Vendor OEMs, Independent Service Organization, In-House Maintenance 4) By End User: Hospital, Diagnostic Imaging Centres, Dialysis Centres, Ambulatory Surgical Centres, Dental Clinics And Speciality Clinics, Other End Users The global medical equipment maintenance market size will grow from $32.55 billion in 2022 to $37.31 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global medical equipment maintenance is expected to grow to $56.03 billion in 2027 at a CAGR of 10.7%. The increase in demand for medical devices is significantly contributing to the growth of the medical equipment maintenance market. Medical devices are instruments, machines, and apparatus that are used for medical purposes to prevent, diagnose, or treat diseases. The rising demand for medical devices requires effective medical equipment maintenance services to lower dispatch costs, minimize patient dissatisfaction, ensure prompt patient treatment, and lower fatality and risk during patient care. For instance, according to the International Trade Administration and U.S. Department of Commerce report, the total production of medical devices and equipment in India reached $4,473 million in 2020, which is an increase compared to $2,390 million in 2019. Therefore, the increase in demand for medical devices is expected to propel the growth of the medical equipment maintenance market going forward. Major players in the medical equipment maintenance market are GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Medtronic PLC., FUJIFILM Holdings Corporation, Canon Inc., Carestream Health Inc., Dräger, Toshiba International Corporation, Althea Group, Olympus Corporation, B. Braun Melsungen AG, KARL STORZ GmbH & Co. KG, Aramark Services Inc., and Johnson & Johnson. Strategic partnerships and collaborations are shaping the medical equipment maintenance market. For instance, in February 2021, Siemens Healthineers, a Germany-based medical technology company, and the Kantonsspital Baden (KSB), a Switzerland-based hospital formed a technological and strategic partnership for eight years. This partnership aims to help Kantonsspital Baden to expand its capabilities, optimize business processes, and advance innovation. It includes maintenance of medical imaging systems, technology needs, and capacity assessment, holistic technology management, process optimization, expansion of telemedicine solutions, and certified employee training programs. Additionally, in March 2021, Agiliti, a US-based medical equipment management company acquired Northfield Medical, a US-based company that offers repairing and maintenance services for surgical instruments for $475 million. Through this acquisition, Northfield Medical offers medical device care and repair, with a focus on surgical instruments, endoscopes, and other operating room equipment. In March 2021, Fujifilm Healthcare, a Japan-based diagnostics imaging systems company, acquired Hitachi’s diagnostic imaging-related business for an amount of $1.52 billion (€1.3 billion). Through this acquisition, Fujifilm aims to expand its diagnostic products and services business globally to offer comprehensive solutions for clinical needs. Hitachi Ltd. is a Japan-based company that manufactures medical equipment and provides medical equipment maintenance services. North America was the largest region in the medical equipment maintenance market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical equipment maintenance market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical equipment maintenance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The medical equipment maintenance market consists of revenues earned by entities that are engaged in the service of preventive maintenance, periodic inspection, and corrective maintenance of medical equipment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The medical equipment maintenance market research report is one of a series of new reports from The Business Research Company that provides medical equipment maintenance market statistics, including the medical equipment maintenance industry global market size, regional shares, competitors with a medical equipment maintenance market share, detailed medical equipment maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the medical equipment maintenance industry. This medical equipment maintenance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Medical coding is the process of converting information related to one’s health diagnosis, treatment, procedures and other related information in to a universal medical alphanumeric code. The components of medical coding include in-house and outsourced. The in-house medical coding refers to the entire process of medical coding done in-house or within the company through coding software’s. In-house results in lower costs and is always effective to keep the coding under the same roof as resolving issues is faster when billing and coding problems come up. The classification systems used in medical coding include the international classification of diseases (ICDs), the healthcare common procedure coding system (HCPCS), and current procedural terminology (CPT). These medical coding solutions are services used in diagnostic centers and hospital & care providers. The global medical coding market is segmented - 1) By Component: In-house, Outsourced 2) By Classification System: International Classification of Diseases (ICDs), Healthcare Common Procedure Coding System (HCPCS), Current Procedural Terminology (CPT) 3) By End User: Diagnostic Centers, Hospitals & Care Providers The global medical coding market size grew from $15.71 billion in 2022 to $17.23 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global medical coding is expected to grow to $24.81 billion in 2027 at a CAGR of 9.5%. The rising need for a universal language in medical documents is expected to propel the growth of the medical coding market. The medical industry creates huge data that is difficult to organize manually without proper universal labels/names and difficult to refer to if there is a need to check the history of the patient. The process of conversion of medical records into universal medical alphanumeric codes to streamline hospital billing procedures is expected to aid in keeping medical data organized and for accurate billing reimbursement while also tracking the patient’s health for future complaints or treatment. This will automatically create demand for medical codes that help to organize medical data and streamline the processes reducing inefficiencies involved in recording data manually without universal codes. For instance, the International Classification of Diseases (ICD) maintained by the World Health Organization is used for information on human disease and death worldwide using the data reported and coded with the ICD. Furthermore, in December 2020, Shockwave Medical Inc., an American medical device company, announced the creation of four new codes for IVL procedures performed in the tibial and peroneal, or below-the-knee (BTK), arteries in the hospital outpatient setting. The use and creation of code that is universally accepted are driving the growth of the medical coding market. Major players in the medical coding market are 3M Company, AcerHealth Inc., Alpha Coding Experts LLC, Aveanna Healthcare LLC, EqualizeRCM Services, IBM Corporation, iMedX Inc., Infinx Healthcare, Nuance Communications Inc., Omega Healthcare Management Services Private Limited, Optum360, Oracle Corporation, Precyse Solutions LLC, QWay Health LLC, Vee Technologies Private Limited, Aviacode Inc., Maxim Health Information Services, MRA Health Information Services, Thrive Inc., Conifer Health Solutions, Humana, and Access Healthcare. The increased adoption of artificial intelligence (AI) is a new trend gaining popularity in the medical coding market. AI is defined as the imitation of human intelligence in machines that are programmed to think like humans and mimic human actions. The adoption of artificial intelligence is expected to streamline medical billing workflows in addition to making the work of medical coders accurate and improving efficiency. The adoption holds more relevance considering the growing healthcare data and increased complexity. In addition, the medical coding will require fewer searches to find proper codes for unstructured data to relieve medical coding fatigue. For instance, in November 2020, Diagnoss, an American-based medical billing services startup, launched a coding assistant based on artificial intelligence to automate the medical coding and billing process and minimize coding errors. It is intended to provide real-time feedback to medical practices and improve clinicians’ accuracy. In September 2021, AGS Health, an American provider of revenue cycle management solutions for healthcare providers, acquired EZDI Inc for an undisclosed amount. The acquisition is expected to improve the process and lead to better outcomes with efficiency as EZDI’s technology is useful to predict appropriate medical codes and identify missed documentation. EZDI Inc is an American provider of integrated AI-based clinical documentation and medical coding platform. North America was the largest region in the medical coding market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical coding market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the medical coding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical coding market includes revenues earned by entities by providing services such as HCC Coding, Offshore coding audit, payer specific coding requirements, and code review services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced.It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The medical coding market research report is one of a series of new reports from The Business Research Company that provides medical coding market statistics, including medical coding industry global market size, regional shares, competitors with a medical coding market share, detailed medical coding market segments, market trends and opportunities, and any further data you may need to thrive in the medical coding industry. This medical coding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.