Non-Invasive Prenatal Testing Market SWOT Analysis, Growth Rate of Top Manufacturers Profiles

 The global non-invasive prenatal testing (NIPT) market size is expected to reach USD 6.56 billion by 2028 according to a new study by Polaris Market Research. The report “Non-Invasive Prenatal Testing (NIPT) Market Share, Size, Trends, Industry Analysis Report, By Gestation Period (0-12 weeks, 13-24 weeks, 25-36 weeks); By Component (Consumables, Instruments, Software, Services); By Method; By Application; By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The market demand for non-invasive prenatal testing is expected to increase during the forecast period owing to growth in the occurrence of genetic disorders, increasing awareness regarding early fetal testing, and advancing maternal age. The significant market growth in healthcare infrastructure, technological advancements, and favorable regulations are some factors expected to provide growth opportunities during the forecast period.

 

The gestation period segment has been divided into 0-12 weeks, 13-24 weeks, 25-36 weeks. Testing performed for 13 – 24 weeks involves blood tests and ultrasound to detect genetic disorders and neural tube defects. Ultrasounds are also used in this period to examine the anatomy and associated disorders. There has been a high demand for consumables required during non-invasive prenatal testing. The rising awareness regarding fetal testing, coupled with technological advancements, supportive government regulations, and advanced healthcare infrastructure boosts the market growth.

 

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Non-invasive prenatal testing is used for the detection of Monosomy, Trisomy, Microdeletion Syndrome, and Others. The trisomy accounted for a major share of the global market for non-invasive prenatal testing owing to high accuracy in detection of trisomy, growing maternal age, and increasing awareness regarding early and non-invasive fetal diagnosis. The test for detection of trisomy is performed after 10 weeks for enhanced safety, reliability, and accuracy for detection of the three common trisomy including chromosomes 21, 18, and 13.

 

The different methods of non-invasive prenatal testing include cell-free DNA in maternal plasma tests, ultrasound detection, biochemical screening tests, and others. The cell-free DNA in the maternal plasma segment is expected to grow significantly during the forecast period. The increasing accuracy in the detection of chromosomal abnormalities through this method, growing patient awareness, and efficient planning for pregnancy management are some factors driving the growth of this segment.

 

Non-invasive prenatal testing services are offered in diagnostic centers, hospitals, clinics, and others. The diagnostic centers segment accounted for the highest share in 2020. The increasing occurrence of chromosomal abnormalities coupled with supportive government initiatives supports the growth of this segment. The presence of specialized equipment, advanced healthcare infrastructure, and expert professionals further encourage patients to visit diagnostic centers.

 

North America dominated the global NIPT market in 2020 and is expected to maintain its dominance over the forecast period. High living standards, significant investment in healthcare services, and increasing occurrence of chromosome abnormalities support market growth in this region. However, Asia-Pacific is expected to exhibit significant growth during the forecast period. Increasing population coupled with increasing awareness regarding fetal testing fuels growth in this region. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.

 

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On account of the technological advancements, and greater need to cater to customer requirements, companies are collaborating in order to strengthen the market presence and gain market share. Broadening of the product portfolio is another trend that is visible in the industry.

Some of the major market participants include Agilent Technologies, Inc., Laboratory Corporation of America Holdings, Illumina, Inc., F. Hoffman-La Roche Ltd., Yourgene Health, Perkinelmer, Inc., GE Healthcare, Quest Diagnostics, Thermo Fisher Scientific, Inc., Sequenom, Qiagen N.V., Koninklijke Philips N.V., Natera, Inc., Beijing Genomics Institute, and Pacific Biosciences of California, Inc.

 

Polaris Market Research has segmented the non-invasive prenatal testing (NIPT) market report on the basis of gestation period, component, method, application, end-use, and region:

 

Non-Invasive Prenatal Testing (NIPT) Gestation Period Outlook (Revenue, USD Million, 2016 – 2028)

• 0-12 weeks
• 13-24 weeks
• 25-36 weeks

Non-Invasive Prenatal Testing (NIPT) Component Outlook (Revenue, USD Million, 2016 – 2028)

• Consumables
• Instruments
• Software
• Services

Non-Invasive Prenatal Testing (NIPT) Application Outlook (Revenue, USD Million, 2016 – 2028)

• Monosomy
• Trisomy
• Microdeletion Syndrome
• Others

Non-Invasive Prenatal Testing (NIPT) Method Outlook (Revenue, USD Million, 2016 – 2028)

• Cell-Free DNA in Maternal Plasma Tests
• Ultrasound Detection
• Biochemical Screening Tests
• Others

Non-Invasive Prenatal Testing (NIPT) End-Use Outlook (Revenue, USD Million, 2016 – 2028)

• Diagnostic Centers
• Hospitals
• Clinics
• Others

 

Transplantation Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

 The global transplantation market size is expected to reach USD 19.52 billion by 2028 according to a new study by Polaris Market Research. The report “Transplantation Market Share, Size, Trends, Industry Analysis Report, By Product Type (Tissue Products, Immunosuppressive Drugs, and Preservation Solutions); By Application (Organ and Tissue Transplant), By End Use (Hospitals, Transplant Centers, and Others), By Regions; Segment Forecast, 2021 –2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

In 2020, the tissue market segment for transplantation accounted for the largest share and is projected to retain its dominance. The rising cases of burn and accident cases all across the globe and high transplant products among patients in the developed economies favoring its growth. As per the estimates of the European Road Safety Observatory, there were around 102,362 accident cases in Spain, which has boosted the segment’s growth prospects in transplantation industry.

 

The organ transplantation segment is anticipated to grow at the fastest rate over the assessment period. Repetitive use of immuno-suppressants and rising organ transplant surgeries are the prominent market factors responsible for such a high growth rate. Moreover, advancements in transplantation technology followed by new product launches propelled the transparent procedures for kidneys, lungs, heart, tissue, and liver.

 

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In this direction, in November 2020, Lupin introduced a generic version of an immune-suppressant drug, “Tacrolimus” in the U.S. territory, indicated for organ rejection in the allogenic heart, liver, and kidney transplants. In recent past few years, a high number of transplant procedures were recorded in Germany, France, the US., and the UK and the number is expected to rise in the coming years. Moreover, the presence of well-developed healthcare infrastructure and availability of skilled surgeons in these countries have favored the market growth for transplantation.

 

The immunosuppressive drugs market segment is anticipated to grow at a lucrative growth rate over the study. This market growth is attributed to its high usage post organ transplantation and the rising prevalence of chronic diseases. Thus, the rising market demand for such drugs is anticipated to grow at the fastest rate.

 

The preservation market segment is projected to witness a significant growth rate over the assessment period. Strong government funding towards stem cell research and the rising cases of organ failures are the factors expected to favor the market segment’s growth prospects in transplantation industry.

 

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Market participants in transplantation industry include Stryker Corp., Zimmer Biomet, Biolife Solutions, Medtronic, Teva Pharmaceutical, AbbVie Inc., Novartis International, 21st Century Medicine, and Veloxis Pharmaceuticals.

 

Polaris Market Research has segmented the transplantation market report on the basis of product type, application, end-use, and region:

 

Transplantation, Product Type Outlook (Revenue – USD Million, 2016 – 2028)

• Tissue Products
• Immunosuppressive Drugs
• Preservation Solutions

Transplantation, Application Outlook (Revenue – USD Million, 2016 – 2028)

• Organ Transplanta
• Tissue Transplant

Transplantation, End-Use Outlook (Revenue – USD Million, 2016 – 2028)

• Hospitals
• Transplant Centers
• Others

Night Vision Device Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

 The global night vision device market size is expected to reach USD 11.76 billion by 2028 according to a new study by Polaris Market Research. The report “Night Vision Device Market Share, Size, Trends & Industry Analysis Report, By Device Type (Goggles, Cameras, Scopes, Glasses, Binoculars & Monocular), By End-Use (Defense, Wildlife Spotting, Wildlife Conservation, Surveillance, Navigation); By Technology; By Region, And Segment Forecasts, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Night vision devices enable the market users to see through dark or low-intensity light. These devices are also named night optical/observation devices which is the optical instrument and pose-ability of creating images in levels of light in the darkness.

 

These devices are most commonly used in military and law enforcement personals. The equipment such as scopes, goggles, and binoculars assist a soldier during the dark. There are various components present like photocathode, image intensifier, front lens, image intensifier. Image intensifier tubes can amplify low-level images formed by weak emissions.

 

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At present, due to COVID-19, governments are compelled to use advanced NVDs around the globe. Some of the measures taken by the government include the development of stringent surveillance mechanisms to point the spread of corona. Also, different companies are seen to reform their continuity models by investing in improved models. For instance, to detect the local gatherings, drones integrated night vision cameras have become a great aid to the police. Also, these devices can detect individuals without masks in public areas.

 

The major factor driving the market growth in adoption of these devices integrated with Near-infrared Imaging technology for the purpose of safety, security, and surveillance applications. These devices are highly adopted owing to the ability to detect and track motions that take place under the cloak of darkness.

 

Furthermore, technological innovations like enhancements in the components which are used in night vision devices have highly contributed to the development of the NVDs market development. For example, the integration of goggles with weapon location devices lets the military personnel point the target with high accuracy. These advanced products are widely available and drive market growth. Also, lightweight night vision devices gain traction in the market, for instance, lightweight binocular devices have excellent optical performance.

 

Some of the key market players which play an important part in the global market include American Technologies Network Corporation; Raytheon Company; Harris Corporation; FLIR Systems, Inc.; Yukon Advanced Optics Worldwide; Apresys, Inc., Luna Optics; Bushnell; Firefield; and L3 Technologies, Inc.

 

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Similarly, BAE Systems has unveiled a new night vision and thermal imaging headset. The latest goggle, which is mounted on a rifle, uses Bluetooth to stream a live video feed from the thermal weapon scope. This headset would improve the soldier’s ability to acquire and engage targets by combining night vision and thermal imaging capabilities into one display on the goggle.

 

Polaris Market Research has segmented the night vision device market report on the basis of device type, application, technology, and region:

 

Night Vision Device, Device Type Outlook (Revenue – USD Million, 2016 – 2028)

• Goggles
• Cameras
• Scopes
• Glasses
• Binoculars and Monocular
• Others

Night Vision Device, Technology Outlook (Revenue – USD Million, 2016 – 2028)

• Image Intensifier
• Thermal Imaging
• Others

Night Vision Device, End-Use Outlook (Revenue – USD Million, 2016 – 2028)

• Defense
• Wildlife Spotting
• Wildlife Conservation
• Surveillance
• Navigation
• Others

COVID-19 Vaccine Packaging and Delivery Devices Market Global Industry Analysis By Trends, Future Demands, Growth Factors 2028

 The global COVID-19 vaccine packaging and delivery devices market size is expected to reach USD 3.58 billion by 2028 according to a new study by Polaris Market Research. The report “COVID-19 Vaccine Packaging and Delivery Devices Market Share, Size, Trends, Industry Analysis Report, By Product (Vials, Syringes); By Packaging (Insulated Shippers, Insulated Containers, Refrigerants) (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The emergence of the COVID-19 pandemic has posed a significant challenge to the healthcare infrastructure across the globe owing to the lack of drugs to cure the condition. The mortality rate is much higher when compared to other kinds of viral associated diseases such as flu caused by Influenza. This has led to a sudden market demand for COVID-19 vaccine packaging and delivery devices.

 

Hence, there is a huge interest in developing vaccines to combat the pandemic. These vaccines need to be packaged and transported properly in a sterile manner and need to be administered properly and this is expected to be the major driving factor for the growth of the global market for COVID-19 vaccine packaging and delivery devices.

 

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There is a huge market demand for the product across the globe. U.S., China, and India are expected to be the biggest market for the COVID-19 vaccine due to their large population and huge investment in vaccine production. Till now, over 1 billion doses of vaccines are administered worldwide with 225.6 million doses in the U.S.; 216.1 million doses in China; and 140 million in India.

 

In March 2021, the U.S. government said that it will order another 100 million doses of the Johnson & Johnson, and the country has already ordered a total of 700 million doses of vaccine. The increasing demand for serums across the globe will be the main driving force behind the market growth for COVID-19 vaccine packaging and delivery devices.

  

In addition, India also has ordered 10 million extra doses of AstraZeneca’s Covaxin, which is produced by Serum Institute of India (SII), and 4.5 million of Covaxin indigenously produced by Bharat Biotech. The country is expected to cover 300 million people by August of this year. However, when compared to the total population, much more doses of vaccines are needed to vaccinate the majority of people across the globe.

 

There are many new serums in the pipeline and with the emergence of new strains pharmaceutical companies are expected to develop new serums. Since packaging and delivery is an integral part of any product manufacturing, there is a huge growth opportunity over the coming for the COVID-19 vaccine packaging and delivery devices industry.

 

Companies are collaborating on the production, packaging, and delivery devices for COVID-19 serums across the world. In March 2021, Novavax and the UK Government Vaccines Taskforce entered into an agreement with GSK under which GSK will support the production of around 60 million doses of the Novavax serum candidate. This is expected to have a positive impact on the market growth for COVID-19 vaccine packaging and delivery devices.

 

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Market Participants such as B. Braun Melsungen AG, Terumo, Becton, Dickinson and Company, Hindustan Syringes & Medical Devices Ltd., SCHOTT AG, Cardinal Health, NIPRO Medical Corporation and Gerresheimer AG are some of the key players operating in the global market for COVID-19 vaccine packaging and delivery devices.

Mucormycosis Market SWOT Analysis, Growth Rate of Top Manufacturers Profiles

 The global mucormycosis market size is expected to reach USD 616.1 million by 2028 according to a new study by Polaris Market Research. The report “Mucormycosis Market Share, Size, Trends, Industry Analysis Report; By Diagnosis (Computed Tomography, MRI, Tissue Biopsy); By Treatment (Surgery, Antifungal Drugs, Amphotericin B Therapy, Others); By End-Use; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The emergence of the COVID-19 pandemic along with the increasing cases of blood cancers and diabetes will be the main factors for the growth of the global market during the forecast period. Organ and bone marrow transplantation along with increasing immune-competent patients due to the conditions like HIV will also boost the growth of the global market.

 

COVID-19 has significantly impacted the globe with over 150 million cases detected worldwide. Brazil is the third-worst affected country with more than 15 million cases and India which is clocking more cases than any other country, in May 2021, and has detected more than 20 million cases from the beginning of the pandemic. Mucormycosis cases are increased in the COVID-19 patients who have undergone treatment.

 

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Steroid drugs are typically used to manage the disease condition in these patients and even though the drugs are effective in treating corona it will lead to weak immune system and blood sugar level and the patients who taken steroid medication are prone to developing mucormycosis.

 

In India, there is an enormous increase in fungal infection, and in few hospitals in urban areas, five to ten people are coming for mucormycosis treatment. Before the pandemic, mucormycosis was very rare and the emergence of COVID-19 is expected to give a major boost to the growth of the global market.

  

Every year nearly 1.8 million hematological cancers are diagnosed across the globe and bone marrow transplantation is a treatment procedure to treat these conditions. The improved technology has resulted in the increased organ transplantation in the market.

 

In the U.S. market alone, nearly, 37,000 organ transplant procedures were conducted, in 2018. Most of the patients who underwent transplant take immunosuppressive drugs which will put them at the risk of developing mucormycosis.

 

Mucormycosis is a deadly fungal disease caused by species such as Rhizopus, Mucor, Saksenaea, Apophysomyces, Lichtheimia, Cunninghamella, Rhizomucor, and others. The mortality rate of mucormycosis ranges from 17 to 66% in patients and the patients who overcome mucormycosis will suffer from blindness and organ dysfunction.

 

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Computed tomography (CT), Magnetic resonance imaging (MRI), and tissue biopsy are mainly used in the diagnosis of fungal infection in the market. Amphotericin B therapy, surgery, and antifungal drugs are the main treatment methods to cure mucormycosis.

 

Many new drugs in the market are approved to treat mucormycosis due to the increasing number of fungal infections. For instance, in March 2021, Bharat Serums and Vaccines Limited received Indian regulatory approval (DGCI) for the use of Liposomal Amphotericin B or LAmB for the treatment of mucormycosis.

 

Market Participants such as Biocon Limited, Abbott Laboratories, Cadila Pharmaceuticals Limited, F. Hoffman La Roche, Novartis AG, Merck Sharp and Dohme, Bristol Myers Squibb, Mylan Labs, Bayer AG, Sanofi, Lonza Group, Johnson & Johnson, Gilead Sciences, and Pfizer Inc. are some of the key players operating in the global market.

 

Polaris Market Research has segmented the mucormycosis market report on the basis of diagnosis, treatment, end-use, and region:

 

Mucormycosis, Diagnosis Outlook (Revenue – USD Million, 2016 – 2028)

• Computed Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Tissue Biopsy
• Others

Mucormycosis, Treatment Outlook (Revenue – USD Million, 2016 – 2028)

• Surgery
• Antifungal Drugs
• Posaconazole
• Isavuconazole
• Voriconazole
• Fluconazole
• Flucytosine
• Others
• Amphotericin B Therapy
• Others

Mucormycosis, End use Outlook (Revenue – USD Million, 2016 – 2028)

• Hospitals & Clinics
• Medical Institutes
• Research Organization
• Others

Airborne ISR Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

 The global airborne ISR market size is expected to reach USD 38.78 billion by 2028 according to a new study by Polaris Market Research. The report “Airborne ISR Market Share, Size, Trends, Industry Analysis Report, By Type (Manned Airborne ISR System, Unmanned Airborne ISR System); By Operation (Intelligence, Surveillance, Reconnaissance); By System; By Application; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The growing military expenditure in countries such as China, U.S, and others have resulted in the growing adoption of airborne ISR systems. The advancements in technologies and the increasing need for national security would further lead to market growth. Increasing requirements for accurate and reliable systems to track, detect, and classify different types of threats, along with stringent security regulations supplement the market growth of airborne ISR systems.

 

The demand for unmanned airborne ISR systems is expected to increase during the forecast period. The increasing need to provide safety while reducing loss of personnel life coupled with lower risks, reduced costs, and greater accuracy of unmanned ISR systems boosts the market growth. Market players are introducing technologically advanced unmanned ISR systems with improved efficiency and reduced overall costs to cater to specific defense requirements.

 

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The use of higher bandwidth of frequency range, and advanced hardware components increase the overall efficiency of these systems. Technological advancement in terms of miniaturization and improvement of components has encouraged established organizations to invest in these systems.

The operation segment has been divided into intelligence, surveillance, and reconnaissance. The surveillance segment accounted for a significant share in 2019. Airborne ISR systems offer enhanced surveillance capabilities in variable visibility conditions, automatic clutter suppression, advanced processing eliminating multi-path targets, high reliability, ease of maintenance, and reduced life cycle costs.

 

On the basis of the system, the market is segmented into airborne early warning and control, signals intelligence, maritime patrol, airborne ground surveillance, electronic warfare, and others. Electronic warfare accounted for the highest market share in 2020.

 

Electronic warfare includes airborne electronic attacks, radar warning receivers, decoys, electronic warfare battle management, and mobile battle management among others. It is equipped with a receiver sensor for signal analysis to sense the environment and respond through technique generation and high-power transmission.

 

The various applications of the systems include law enforcement, surveillance & reconnaissance, search & rescue, delivery & logistics, engineering, surveying and mapping, and others. The systems are widely used for surveillance and reconnaissance owing to the ability to generate large amounts of real-time data.

 

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The systems are equipped with payload controllers, modems, sensors, video processing, power distribution, and data management tools to provide advanced image processing capabilities for the identification and tracking of maps or sensor imagery.

 

The applications offered by the systems for surveillance include detection of humans and vehicles, perimeter protection, border security, wide-open area security, fenced compounds security, military installations, and guarded facilities among others.

 

North America accounted for the largest revenue share owing to the increasing trend of automation, high defense expenditure, technology up-gradation, and the increasing threat of terrorism are likely to foster market growth in the coming years.

 

Asia-Pacific is expected to grow at a significant rate during the forecast period. Factors such as increased demand for the systems from developing nations, rise in need for improved safety solutions, increasing need for surveillance in the defense and law enforcement sectors are boosting the growth of the the systems in the Asia Pacific region.

 

The airborne ISR System market is characterized by established companies and large giants. Owing to technological advancements, and the greater need to cater to customer requirements, companies are collaborating in order to strengthen their market presence and enhance their market share.

 

Some of the major market participants include The Boeing Company, L3 Technologies Inc., Thales Raytheon Systems, Harris Corporation, General Dynamics Corporation, Northrop Grumman Corporation, UTC Aerospace Systems, Rockwell Collins Inc., General Atomics, BAE Systems PLC, Elbit Systems Ltd, Lockheed Martin Corporation, FLIR Systems Inc., Kratos Defense & Security Solutions Inc., Airbus, and CACI International Inc.

 

Roll-Your-Own Tobacco Product Market SWOT Analysis, Growth Rate of Top Manufacturers Profiles

 The global roll-your-own tobacco product market size is expected to reach USD 10.38 billion by 2028 according to a new study by Polaris Market Research. The report “Roll-Your-Own Tobacco Product Market Share, Size, Trends, Industry Analysis Report, By Product (RYO Tobacco, Rolling Paper & Cigarette Tubes, Injector, Filter & Paper Tip); By Distribution Channel (Offline, Online); By Regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Manufacturers in the market for roll-your-own tobacco product are offering a broad range of flavored cigarettes to engage with the younger generation. Flavored tobacco products are generally available in vanilla, bubblegum, mint, watermelon, and spice flavors. Menthol is the most popular flavor in the smoking industry.

 

According to the statistics published by the Food & Drug Administration (FDA), as of 2020, over 19.5 million individuals in the country smoke menthol-flavored cigarettes. However, strict legislation and prohibition on the sale of flavored cigarettes in few countries such as Turkey, Iran, Pakistan, Brazil, and Indonesia, have been hampering the uptake of roll-your-own tobacco product.

 

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Moreover, the ongoing financial crisis caused by the global pandemic COVID-19 has shaken the economy as well as individuals, particularly in middle and low-income groups. Price-sensitive consumers in the developing economies, due to lack of job and income have shifted towards low-cost alternatives, as their preferred choice. This shift has resulted in the demand for roll-your-own tobacco products.

 

According to the study done by the University College London (UCL) in 2018, roll your smokers are less likely to quit smoking as compared to factory-based cigarettes. A key reason for RYO smoker’s unwillingness to quit smoking is the low cost. Thus, the global market is projected to garner a healthy growth rate in the coming years.

 

Companies operating in the market for roll-your-own tobacco product industry Imperial Brands, Curved Papers, Inc., Japan Tobacco International, Karma Filter Tips, British American Tobacco, Scandinavian Tobacco, Altria Group, Inc., Philip Morris International, HBI International, and Shine Brands.

 

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Polaris Market Research has segmented the roll-your-own tobacco product market report on the basis of product, distribution channel, and region:

 

Roll-Your-Own Tobacco Product, Product Outlook (Revenue – USD Million, 2016 – 2028)

• RYO Tobacco
• Rolling Paper & Cigarette Tubes
• Injector
• Filter & Paper Tip

Roll-Your-Own Tobacco Product, Distribution Channel Outlook (Revenue-USD Million, 2016 – 2028)

• Offline
• Online

Revenue Cycle Management Market SWOT Analysis, Growth Rate of Top Manufacturers Profiles

 The global revenue cycle management market size is expected to reach USD 613.45 billion by 2028 according to a new study by Polaris Market Research. The report “Revenue Cycle Management Market Share, Size, Trends, Industry Analysis Report, By Product Type (Software, Services); By Type (Integrated, Standalone); By Delivery Mode (On-premise, Web-based, Cloud based); By End-Use (Physician Offices, Hospitals, Diagnostic Laboratories); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Major advantages in outsourcing revenue cycle management services are the availability of skilled professionals, compliance, regulations, and cost-effective services. Owing to such advantages, there is an increasing trend of outsourcing revenue cycle management services over the past few years.

 

For instance, according to the research done by the Med-USA, around two-thirds of the healthcare facilities are using outsourcing services for their daily workflow management. Hence, increasing adoption of such systems is likely to garner high revenue generation during the revenue cycle management study period.

 

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However, lack of a proper reimbursement system among insurance providers and other stakeholders and lack of trust in government and private insurers is one of the hurdles in the market growth. For instance, according to the research done by the Healthcare Financial Management Association (HFMA), the average time required to reimburse payment by Medicare or Medicaid is around 28 days, while private insurers take twice more time in the processing of claims. Such delay and plausible discrepancies in reimbursement are creating hurdles in the adoption of such services.

 

Asia Pacific market for revenue cycle management is expected to witness a lucrative growth rate over the market assessment period. Rising healthcare expenditure, unmet medical needs of the population, and supportive government initiatives are the key market factors primarily responsible for the market growth for revenue cycle management.

 

Moreover, the region comprises of two most populous nations, India, and China, where there is an urgent need to offer necessary medical attention at a reasonable cost for the ever-rising lifestyle-borne chronic conditions. Thus, this high-impact rendering driver is expected to boost market demand for revenue cycle management systems.

 

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Market companies operating in the revenue cycle management industry The SSI Group, Inc., AllScripts Healthcare, LLC, Experian Health, R1 RCM Inc., McKesson Corporation, athenahealth, Inc., Epic Systems Corporation, NXGN Management, LLC, CareCloud Corporation, Quest Diagnostics, Inc., and R1 RCM Inc.

 

Polaris Market Research has segmented the revenue cycle management market report on the basis of product, type, delivery mode, end-use, and region:

 

Revenue Cycle Management, Product Outlook (Revenue – USD Million, 2016 – 2028)

• Software
• Services

Revenue Cycle Management, Type Outlook (Revenue – USD Million, 2016 – 2028)

• Integrated
• Standalone

Revenue Cycle Management, Delivery Mode Outlook (Revenue – USD Million, 2016 – 2028)

• On-premise
• Web-based
• Cloud based

Revenue Cycle Management, End Use Outlook (Revenue – USD Million, 2016 – 2028)

• Physician Offices
• Hospitals
• Diagnostic Laboratories
• Others