As the geriatric population gradually rises, as does the incidence of lifestyle-related diseases, the Healthcare Market is a very dynamic industry in the contemporary era. Besides, a large portion of the global population has been given access to public and affordable healthcare, and more are being added to the umbrella each day. Development in stem cell and genomic research is also at an all-time high, as many regulators across the world are also easing regulations regarding the manufacture, distribution as well as administration of medicines. Market forecast reports published by Inkwood Research estimate an average of about 6% CAGR for different segments of this mammoth industry.
Mobile Healthcare, My Healthcare
The complete Healthcare industry employs a lot of equipment, from the humble stethoscope to the advanced MRI and CAT-Scan Machines. The major trend seen in this regard is that of "DIY Healthcare", that is more and more metrics of health are now patient-managed rather than them having to go to a hospital each time their blood pressure shot up. As healthcare becomes more and more decentralized, the power of monitoring is going back to the patient. Mobile applications and automatic glucometers and sphygmomanometers are helping patients monitor and administer solutions to themselves, and have a medical representative intervene when they feel it is necessary. Simple to understand procedures and results, and often painless and cost-effective applications have helped such devices vastly expand their outreach.
Genes is The New Jeans
An increasing amount of research and development expenditure is being utilized in the field of healthcare to analyze genes, and genomic alternatives are being employed wherever possible to help mitigate future malady risks. Cancer applications are major avenues of application in this regard.
As malignant cells are encountered, genomics is used to understand causative and correlative reasons for the cells' behavior, and measures are employed so that a malignant cell does not infect adjacent tissues and cells. Pharmacogenomics is also a huge emerging field which studies the effect of drugs on genes. It thus also tries to elucidate on a specific person's reaction to a specific drug due to his/her genetic make-up, as well as what drugs may be used to treat/avoid the risk of what disorders. Developments and further studies in pharmacogenomics are expected to help to tailor Personalized Medicine.
Who Delivers The Stork?
While reproduction and delivering progeny is definitely not a new concept, fascinating new advancements in the pregnancy and perinatal market makes it one of the few trends to watch out for. As expectant mothers become more concerned about their bodies, invasive tests such as CVS or amniocentesis during pregnancy are becoming things of the past. While these tests are still highly regarded as they can give you accurate information about whether the fetus has a pre-existing condition, it comes with an albeit small amount of risk of miscarriage. Newer tests such as non-invasive prenatal testing (NIPT) can also be carried out to check for common chromosomal abnormalities, but they vastly curb the risk of any miscarriage during pregnancy.
Other key trends include fertility treatments, as well as more DIY devices to help monitor a would-be mother's key healthcare metrics in the comfort of her home.
Money Money Everywhere, But Not a Cent to Spend
As regulators clamor over making access to healthcare a basic right, and medicines more cost-friendly for even the poorest, a lot is also being done in the insurance market to ensure that more people are covered. The rapid increase in chronic diseases, such as cancer, cardiovascular disorders, diabetes, and arthritis, is said to be one of the biggest drivers of growth in this industry.
Consumers are also being increasingly sensitized about the nuances between employer-sponsored healthcare schemes and those provided by the government. Medicines are also being increasingly made available across poorer sections of the world, and a rise of the generic drugs market is a testimony to that.
All in all, the global healthcare market trends focus on a broad outlook of the industry and looks at some primary developments in the market. In order for a more detailed discussion, forecast reports of specific markets can be looked at, that anticipate market growth, regional and typographical segmentation as well as primary strategies adopted by major players in the market.