Global Synthetic Biology Market

CRISPR Technology Market Definition

The CRISPR technology market consists of sales of CRISPR technology products and related services by entities (organizations, sole traders and partnerships) that produce CRISPR technology products and equipment. CRISPR is a genome-editing tool. It is used by researchers/healthcare professionals to alter DNA sequences and modify gene function. CRISPR is also used for correcting genetic defects, treating human diseases, and to yield better crop varieties. CRISPR stands for Clusters Of Regularly Interspaced Short Palindromic Repeats. The CRISPR-Cas9 system consists of two key molecules, — Cas9 and guide RNA, that introduce a change or mutation into the DNA at the desired position. The Cas9 is an enzyme that acts as a pair of ‘molecular scissors’ and can cut the two strands of DNA at a specific location in the genome so that bits of DNA can then be added or removed. The guide RNA (gRNA is a small piece of pre-designed RNA sequence (about 20 bases long) located within a longer RNA scaffold. The scaffold part binds to DNA and the pre-designed sequence ‘guides’ Cas9 to the right part of the genome. This makes sure that the Cas9 enzyme cuts at the right point in the genome. High orthogonality, versatility, and efficiency of CRISPR technology make it a preferred genome editing technology.

Anti-Viral Drug Therapy Market Definition

The anti-viral drug therapy market consists of sales of branded and generic anti-viral drugs and related services by entities (organizations, sole traders and partnerships) that manufacture branded or generic anti-viral drugs to treat microbial infections. The anti-viral drug therapy industry includes establishments that manufacture anti-viral drugs, which are used to treat diseases or illnesses caused by viral infections. Examples of antiviral drugs include idoxuridine, famiciclovir, cidofovir, amantadine, zanamivir, tenofovir, adefovir and ribavirin. Viruses are infective agents comprising of a core of nucleic acids, either RNA or DNA, and are surrounded by a layer of protein. These are not living organisms, and can reproduce only inside a living cell. Anti-viral drugs decrease the ability of viruses to reproduce. These drugs enter the cells infected with virus, and interfere with the ability of the virus to bind to the cell, and stimulate the immune system of the host.

The healthcare reimbursement market consists of sales of healthcare reimbursement services by entities (organizations, sole traders and partnerships) that provide healthcare reimbursement services, which include the payment that hospitals, diagnostic facilities, doctors, or other health care providers receive for providing medical service to people. The healthcare reimbursement for a person's health care expenses is mostly covered partially or fully by the government or a health insurer. Only goods and services traded between entities or sold to end consumers are included. The healthcare reimbursement market covered in this report is segmented by claims into underpaid, full paid. The healthcare reimbursement market is also segmented by payers into private payers, public payers; by service provider into physician office, hospitals, diagnostic laboratories, others. The global healthcare reimbursement market is expected to decline from $15.19 billion in 2020 to $12.98 billion in 2021 at a compound annual growth rate (CAGR) of -14.5%. The decline is due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The healthcare reimbursement market is expected to reach $23.02 billion in 2025 at a CAGR of 15%. The increasing cost of healthcare and supportive government programs are the key factors that are driving the healthcare reimbursement market growth. According to the Journal of the American Medical Association (JAMA), US healthcare costs are expected to reach $6 trillion, which is $17,000 per person by 2027. In 2019, the US healthcare policy announced plans to expand healthcare insurance coverage and make changes to accountable care organizations. The rising healthcare cost and supportive government policies increase the number of people opting for payer services and thereby contributes to the growth of healthcare reimbursement market. Several incidences of fraud related to federal and state government health care programs hamper the growth of the healthcare reimbursement market. The medical insurance fraud and Medicare/Medicaid insurance fraud make up the majority of false claims in the USA. The National Health Care Anti-Fraud Association (NHCAA) reveals that unnecessary and duplicate tests and procedures, hacking into a patient’s medical records to submit false claims, billing services never rendered, falsifying diagnosis are some common situations that occur. According to the Department of Justice, one of the largest health care fraud enforcement actions across seven federal districts in the Northeastern United States, involved more than $800 million in loss and the distribution of over 3.25 million pills of opioids in "pill mill" clinics. The rise in healthcare fraud related to federal and state government programs create huge loss for the business restraining the growth of the healthcare reimbursement market. Companies in the healthcare reimbursement market are providing options of value-based care models to cater better experience for the patients. Value-based care models are based on the quality of patient's treatment and how well healthcare providers can improve their quality by adhering to certain metrics such as reducing hospital readmissions, improving preventative care, and using particular kinds of certified health technology and help lower healthcare costs. For instance, UnitedHealth estimated that its payments to healthcare providers based on value-based care relationships will be $75 billion by 2020. In March 2019, Centern Corporation, a large publicly-traded company and a multi-line managed care enterprise, acquired WellCare for $17.3 billion. The transaction will result in the establishment of a premier organization providing government-sponsored healthcare programs along with having expertise in Medicaid, Medicare, and Health insurance marketplace. WellCare Health Plans, Inc. is an American health insurance company that provides managed care services primarily through Medicaid, Medicare Advantage, and Medicare prescription drug plans for more than 6.3 million members across the country. Major players in the healthcare reimbursement market are UnitedHealth Group, Aviva, Allianz, CVS Health, BNP Paribas, Aetna, Nippon Life Insurance, WellCare Health Plans, AgileHealthInsurance, and Blue Cross Blue Shield Association. The regions covered in the healthcare reimbursement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the healthcare reimbursement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global healthcare reimbursement market is segmented - 1) By Claims: Underpaid, Full Paid 2) By Payers: Private Payers, Public Payers 3) By Service Provider: Physician Office, Hospitals, Diagnostic Laboratories, Others

The biophotonics market consists of revenues generated from the sales of biophotonic instruments combining optics, nanotechnology, photonics, and biotechnology. Biophotonics is the combination of photonics and biology and is a multidisciplinary research field embracing all light-based technologies applied to life sciences and medicine. It refers to the use of photonic or optical means to examine, control, and track biological processes at various levels of biology: cellular, tissue, molecular, and organism level. The biophotonics market covered in this report is segmented by product technology into in-vitro, in-vivo. The biophotonics market is also segmented by application into see-through imaging, inside imaging, spectro molecular, surface imaging, microscopy, light therapy, biosensors, others and by end-use into diagnostics, therapeutic, tests, others. The global biophotonics market is expected to grow from $41.76 billion in 2020 to $45.67 billion in 2021 at a compound annual growth rate (CAGR) of 9.4%. 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 biophotonics market is expected to reach $63.04 billion in 2025 at a CAGR of 8%. The increasing demand for minimally invasive surgeries is contributing to the growth of the biophotonics market. Optical engineering and imaging technologies are playing a vital role in the evolving field of minimally invasive surgeries by enabling to visualize the manipulation of tissue at remote internal sites. According to the plastic surgery statistics report 2019, the minimally invasive cosmetic procedures reached 16.3 million in 2019, an increase of 2% over the previous year. Therefore, the surge in the number of minimally invasive surgeries annually worldwide is generating higher revenues for the biophotonics market. High prices of biophotonic-based devices or instruments are anticipated to limit the growth of the biophotonics market. The price of biophotonics is comparatively higher than that of conventional instruments. They are considered as more complex attributing to the integration of biological units and the generation, manipulation, and detection of light units, thereby rising their price. This will negatively impact the biophotonics market growth. The launch of new advanced techniques in the field of biotechnology is a major trend shaping the biophotonics market. For instance, a team of scientists at the University of St. Andrews (Scotland) developed a fluorescence microscopy technique that allows imaging of delicate biological samples with low damage in neuroscience and biomedicine. This low damage optical technique is projected to transform the world of biomedicine during the forthcoming years. Hence, the development of new and advanced techniques is gaining significant popularity in the biophotonics market. In August 2018, Gooch & Housego (G&H), a photonics technology company engaged in manufacturing optical components and systems, announced the acquisition of medical device firm Integrated Technologies Ltd. (ITL) for an amount of $27.8 million (£22 million). This acquisition is expected to double Gooch & Housego’s revenue of life science business and accelerate the company’s value chain. Integrated Technologies Ltd (ITL) was established in 1977 and designs, develops, and manufactures life-saving medical technologies, analytical instruments, and diagnostic devices. Major players in the biophotonics market are Thermo Fisher Scientific, OPGEN, NU Skin Enterprises, IPG Photonics Corp., Idex Corp, Toshiba, Procter & Gamble, Horiba, and Precision Photonics Corp. The regions covered in the biophotonics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the biophotonics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global biophotonics market is segmented - 1) By Product Technology: In-Vitro, In-Vivo 2) By Application: See-Through Imaging, Inside Imaging, Spectromolecular, Surface Imaging, Microscopy, Light Therapy, Biosensors, Others 3) By End Use: Diagnostics, Therapeutic, Tests, Others

The laboratory information system market consists of revenue generated by the companies offering laboratory information system software products and related services. A laboratory information system is a software or database that helps in efficient managing of a clinical laboratory for storing, processing, and tracking of data, which used by the hospitals, laboratories, physician offices and clinics for optimizing their workflow. The laboratory information system market covered in this report is segmented by product into standalone LIS, integrated LIS and by end-user into hospital laboratories, independent laboratories, physician office laboratories, others. The global laboratory information system market is expected to grow from $1.59 billion in 2020 to $1.72 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. 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 laboratory information system market is expected to reach $2.88 billion in 2025 at a CAGR of 14%. The rising demand for lab automation is a major factor driving the growth of the laboratory information system market. A growing number of people are undergoing a series of tests, which in turn, increases the burden on the laboratories. The clinical laboratories are hiring more healthcare personnel to reduce the amount of workload on existing staff and minimize the number of errors associated with it in order to increase the efficiency and efficacy of the lab’s functioning for accurate results. According to the Bureau of Labour Statistics, around 12,000 additional clinical laboratory professionals are required every year to meet the demand, however, only half of the number is entering the field. Thus, laboratories opt for automation to ease the work. For instance, TriCore Reference Laboratories in Albuquerque, Mexico, introduced automation in its 20% of instrumentation, which performs almost 80% of the lab’s samples and displays helping the lab in managing and optimizing its functions for faster and accurate results. High costs associated with implementing and maintenance of laboratory information systems are anticipated to limit the growth of the laboratory information system market. The cost of a laboratory information system ranges from $4,000 and $100,000 and also an additional annual operating cost of $1000 to $5000. The operating costs comprise cost related to the software license, training the healthcare personal, maintenance, and service cost. The laboratories may opt for the lower-cost version owing to the high cost of software even when the requirement is for a higher-cost version to reduce the burden of the laboratories, causing an operational instability. Therefore, the high cost of a laboratory information system is expected to hinder the market. A cloud-based laboratory information system is expected to become the leading trend in the laboratory information systems market. Cloud computing is associated with the sharing of computer resources and services including storage and servers over the internet for a reduced cost, increased speed, productivity, and security of the system in the network. The cloud system in laboratory information systems offers various advantages such as cost-efficiency, better results, and progress without space constrain. For instance, APEX laboratory information system by Apex HealthWare, LLC, Arxspan Laboratory Software? by Bruker Software Solutions, Orchard laboratory information system by Orchard Software Corporation are cloud-based systems, which improve efficiency, reduces errors, and enhance patient care. Thus, a cloud-based laboratory information system is expected to gain significant traction in the laboratory information system market. In October 2019, Francisco Partners, an America-based technology-oriented private equity firm acquired Orchard Software Corporation, a privately-owned company specializing in developing laboratory information systems (LIS), for an undisclosed amount. This acquisition is expected to fuel the innovations and offer new technologies to the orchard customers using the experience of Francisco partners. Orchard Software Corporation was founded in 1993 and is a pioneer in the laboratory information systems, which deploys its software in the physician office, clinics, hospitals, and small laboratories. Major players in the laboratory information system market are Cerner Corporation, McKesson Corporation, Epic Corporation Inc, Medical Information Technology Inc, SCC Soft Computer, Sunquest Information Systems Inc, CompuGroup Medical AG, Computer Programs and Systems Inc, Merge Healthcare Inc, and Orchard Software Corporation. The regions covered in the laboratory information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the laboratory information system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global laboratory information system market is segmented - 1) By Product: Standalone LIS, Integrated LIS 2) By End User: Hospital Laboratories, Independent Laboratories, Physician Office Laboratories, Others 3) By Component: Software, Services

The 3D diagnostic imaging services market consists of revenues generated by the use of 3D diagnostic imaging procedures such as 3D X-rays, 3D ultrasound, MRI, and other 3D nuclear imaging techniques (PET, SPECT) to diagnose patients with chronic diseases. The 3D diagnostic imaging technique provides advanced services that help in various applications such as oncology, cardiology, orthopedics and others. 3D diagnostic imaging is used to create three dimensional visual representations of interior body parts for medical analysis with the help of computer-aided design (CAD) or a Magnetic Resonance Image (MRI) technology. The 3D diagnostic imaging services market covered in the report is segmented by technique into ultrasound, MRI, X-ray, computed tomography, others and by application into oncology, cardiology, orthopedics, others. The global 3D diagnostic imaging services market is expected grow from $172.25 billion in 2020 to $192.91 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 3D diagnostic imaging services market is expected to reach $255.4 billion in 2025 at a CAGR of 7%. The demand for point-of-care testing (PoCT) has been steadily increasing over the years. The growth in demand is likely to continue and drive the market for 3D diagnostic imaging services market. This is because PoCT allows physicians and medical staff to accurately achieve real-time, lab-quality diagnostic results within minutes rather than hours. Also, the changing healthcare delivery system is aimed at delivering cost effective care at patient’s home. In most of the countries, especially developing countries, more effective care for infectious diseases is needed. PoCT technologies provide effective care with easy-to-use devices and improved analytical performance and recent improvements in the speed, usability and affordability of medical imaging with 3D integration have greatly expanded the capabilities of PoCT testing systems. These advances are greatly driving the 3D diagnostic imaging services market. The 3D diagnostic imaging services market is constrained by the shortage of qualified and skilled healthcare resources. The main reasons are aging workforce, complexity of the latest procedures and their reluctance towards learning the new procedures, and shrinking number of accredited training programs. A report from the International Labor Organization estimates a global deficit of over 10.3 million skilled health professionals, and more than half of the deficit, totaling 7.1 million (69%), is in Asia. The shortage of skilled workforce is expected to affect the 3D diagnostic imaging services market. Therefore, there is an urgent need to train more healthcare professionals in the latest procedures and technologies including 3D imaging to enable accurate diagnosis and treatment in the most efficient manner. Introduction of improved data storage and information sharing systems such as medical cloud technology is creating more growth opportunities for 3D diagnostic imaging. This is because medical imaging requires adequate resources to process, store, exchange and use large quantities of medical data for appropriate diagnostic and treatment decisions, and advanced cloud computing in medical imaging addresses these concerns. Cloud computing is an emerging solution for questions related to delivering complex services and data interchange over the internet. Cloud computing technology enables medical data sharing across regions, allowing more patients to obtain the medical resources they need. It allows easy retrieval of data and provides doctors with more convenient clinical image data services (clear and informative images). Medical cloud imaging has become an important field of cloud computing. In January 2020, Metropolis Healthcare, a chain of diagnostic companies, acquired 51% stake in Shraddha Diagnostic Centre for Rs 9.36 Crores ($1.27 million). This acquisition helps Metropolis Healthcare expand its geographical reach in 9 cities and towns in India. Shraddha Diagnostics is a private company that majorly serves the B2B segment. Major players in the 3D diagnostic imaging services market are Laboratory Corporation of America Holdings, Quest Diagnostics Inc, Alere Inc., Bio-Reference Laboratories, DaVita Healthcare Partners Inc, Genomic Health Inc., Myriad Genetics Inc., NeoGenomics Inc., Sonic Healthcare Limited, and Spectra Laboratories. The regions covered in the 3D diagnostic imaging services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the 3D diagnostic imaging services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global 3D diagnostic imaging services market is segmented - 1) By Technique: Ultrasound, MRI, X-ray, Computed Tomography, Others 2) By Application: Oncology, Cardiology, Orthopedic, Others 3) By End User: Diagnostic Centers, Hospitals, Research Centers

Biobanks Market Definition

The biobanks market consists of sales of biological specimens such as blood products, human tissues, cell lines nucleic acids (DNA, RNA) and other specimens through biorepositories. This market does not include sales generated from the sale of blood to be used for transfusions to treat medical conditions or of statistical information such as age, gender, diet and lifestyles which biobanks collect. A biobank is a collection of human biological specimens including whole organs, tissue, blood products, plasma, urine, or intracellular components such as DNA and RNA. Biobanks are also known as bio-repositories, bio-resources or tissue banks. The primary function of biobanks is to collect, analyze, store and distribute bio-specimens for research purposes and for treating medical conditions. They can be established within academic, medical or research institutions, pharmaceutical/biotechnology companies, hospitals or as stand-alone organizations.

Nephrology is a specialty of internal medicine that focuses on the treatment of diseases that affect the kidneys. A nephrologist specializes in treating diseases of the kidney. The market for nephrologists is the revenue generated by the nephrologist by the treating patients with kidney disorders. The global market is calculated by the total volume of nephrologists and the average income (full-time salaries) of a nephrologist. In general, for employed physicians, the compensation includes salary, bonus, and profit-sharing contributions, and for service partners its includes earnings after taxes, and deductable business expenses before income taxes. The revenue of servies partners however includes many elements, including consultation fee, equipment, logistics, procedures performed, practice management, practice setting, risk management, management of other medical personnel in the clinic (Physician assistane and Nurse Practitioners), among others. The appropriate number of nephrologists in a country depends on many factors, including need, priority, and resources, and as such there is no global standard with respect to nephrologist density.