Healthcare BPO Market Analysis, Size, Development, Growth and Forecast to 2023
The global healthcare business process outsourcing market is witnessing significant growth, due to technological advancements in healthcare IT sector and increasing demand for reducing healthcare costs. The tenth revision of International Statistical Classification of Diseases and Health Related Problems (ICD-10), emergence of biologics and massive unexplored healthcare BPO market in the emerging economies are creating ample opportunities for the growth of the global healthcare BPO market. Healthcare reforms across the globe and adoption of healthcare BPO by major pharmaceuticals, biopharmaceuticals and biotechnology companies are supporting the demand of cost effective and improved healthcare system.
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Healthcare BPO is the practice of outsourcing business operations by healthcare providers, payers and organizations. Healthcare BPO has several advantages, such as availability of skilled workforce at low cost, reduction in training and administrative costs, and high profitability for healthcare organizations, payers, and providers. In addition, healthcare BPO also improves the quality of patient care, while reducing the investment required for infrastructure.
The global healthcare BPO market is segmented into pharmaceuticals outsourcing, providers outsourcing, and payers outsourcing. The pharmaceutical outsourcing segment leads the global healthcare BPO market. The pharmaceuticals outsourcing segment can be further categorized as contract manufacturing organizations (CMO), contract research organizations (CRO) and non-clinical services. The healthcare providers outsourcing segment includes medical transcription, medical billing, medical coding, and finance and accounts. The healthcare payers outsourcing segment includes customer care and member services, HR services, claims processing, and finance and accounts.
Some of the factors driving the growth of the global healthcare BPO market are increasing healthcare costs, advancement in the healthcare IT technology, lack of skilled professionals and increasing demand for improved healthcare. In addition, the high cost associated with R&D and manufacturing of drugs and reduced productivity is compelling the major pharmaceuticals companies to outsource their business processes. However, data security and privacy concerns, unforeseen costs, and difference in the regulatory processes within different countries are restraining the growth of the global healthcare BPO market.
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Some of the major players operating in the global healthcare BPO market are Accenture, Tata Consultancy Services (a part of Tata Group), Genpact, Boehringer Ingelheim GmbH, Cognizant, Charles River Laboratories International Inc., Covance Inc., Infosys Limited, Lonza Group Ltd. and Quintiles Inc.
Contract Research Organization (CRO) Market Analysis, Size, Growth and Forecast to 2023
The increasing R&D investments from pharmaceutical companies and extensive drug pipelines for the treatment of various chronic diseases, such as immunological disorders, metabolic disorders, and neurological disorders, are the predominant growth drivers for the global contract research organization market. Additionally, the increasing outsourcing of pharmaceutical and biopharmaceutical R&D activities, high failure rate of drug clinical trials, and low cost of conducting clinical trials in emerging countries are also driving the growth of the market. The growing numbers of mergers and acquisitions is a key trend observed in the market. Among the various end-user segments of CRO, the last-stage development service accounted for the largest and fastest growing segment in the global market.
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CROs provide support and services in form of research facilities outsourced on contract basis to life sciences, pharmaceutical, and medical device industries. The major services offered by CROs include preclinical research, biologic assay development, biopharmaceutical and pharmaceutical development, commercialization, clinical trials management, and clinical research. These organizations also provide support to research organizations, academic institutes, and government organizations.
The stringent regulation for the approval of pharmaceutical and biopharmaceutical drugs is restraining the growth of the global CRO market. Moreover, the lack of skilled research professionals is also hindering the growth of the market, especially in the developing countries, such as India and China.
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North America and Europe are the major markets, due to increasing prevalence of chronic diseases, and improved research infrastructure in these regions. The U.S. followed by Canada, is the largest market for CRO in North America. Whereas, the U.K., Germany, and France are some of the major countries holding significant share in the European market.
Some of the major players operating in the global CRO market include WuXi AppTec, Viva Biotech, Ltd., TCG Lifesciences Pvt. Ltd., Sygnature Discovery Ltd., Sundia MediTech Company Ltd., Shanghai Medicilon Inc., ChemPartner, Selvita S.A., Selcia Ltd., Scynexis Inc., Ricerca Biosciences LLC, Pharmaron Inc., Nanosyn Inc., Jubilant Biosys Ltd., Hutchison MediPharma Ltd., Graffinity Pharmaceuticals GmbH, Albany Molecular Research Inc., Argenta Discovery Ltd., Aptuit LLC, Asclepia MedChem Solutions, AsisChem Inc., Caliper Life Sciences, CreaGen Biosciences Inc., Chemical Diversity Inc., BioDuro, Emerald Biostructures, and Jubilant Biosys Ltd.
Nuclear Imaging Equipment Market Trends, Size, Development and Forecast to 2023
According to the study, the global nuclear imaging equipment market is likely to grow significantly during the forecast period, due to rising prevalence of cancer and cardiovascular diseases, increasing geriatric population and increasing prevalence of neurological disorders. In addition, rising healthcare expenditure and launch of technologically advanced products contribute to the growth of the overall market. High cost of imaging techniques is the key factor restraining the global market growth.
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Insights on market segments
As per the findings of the research, based on products, the SPECT is the largest category, in the global nuclear imaging equipment market. Hybrid SPECT, further forms the larger part of the global market for SPECT. Oncology has been the largest application of the global market, followed by cardiology, neurology and others. Hospitals has been the largest end user of nuclear imaging equipment, followed by diagnostic centers, research institutes and others.
North America stands as the largest nuclear imaging equipment market
Geographically, North America has been the largest market for nuclear imaging equipment, with the U.S. being the largest contributor to the regional market. Increasing prevalence of cancer and cardiovascular diseases and presence of technological advanced products has been driving the growth of the North American market for nuclear imaging equipment. In Europe, Germany has been the largest contributor to the market for nuclear imaging equipment, followed by France and the U.K. The market is expected to witness the fastest growth in Asia-Pacific, during 2017 - 2023, owing to increasing cases of cancer, cardiovascular diseases, neurological disorders and increasing geriatric population.
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Key players in the nuclear imaging equipment market
Some of the key players in the global nuclear imaging equipment market include Siemens AG, GE Healthcare, Philips Healthcare, Digirad Corporation and Neusoft Medical Systems Co., Ltd., Cannon Inc., DDD Diagnostics, CMR Naviscan Corporation, SurgicEye GmbH and Mediso Medical Imaging Systems Ltd.
Laparoscopic Devices Market Size, Development and Demand Forecast to 2023
The global laparoscopic devices market is witnessing considerable growth due to the increasing compliance for minimal invasive surgeries, technological advancements and increasing prevalence of colorectal cancer. Moreover, the increasing number of laparoscopic bariatric procedures and huge investments in laparoscopic bariatric market are supporting the growth of the global market. Among the various product types, the energy devices segment held the largest share in the global market in 2015, and it is also expected to retain its dominance during the forecast period. In addition, the energy devices segment would grow at the fastest rate during 2016 – 2022, owing to the technological advancements and increased research and development activities in the product segment. The laparoscopic devices for gynecological surgery contributed largest revenue to the global market in 2015. The laparoscopic devices market for bariatric surgery is expected to grow at the fastest rate during the forecast period, primarily due to the increasing prevalence of obesity and increasing compliance for minimally invasive bariatric surgery. Hospitals are the largest end user of these devices as most of the surgical procedures are performed in hospitals for increased patient safety.
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The growing health care industry in emerging economies and increasing number of free trade agreements are creating ample revenue generation opportunities for the manufacturers of laparoscopic devices. The implementation of robotic navigation technologies and increasing compliance for single-port access surgery are the key trend witnessed in the global market. However, high cost of these devices and procedures and dearth of skilled professionals are the key factors hampering the growth of the global laparoscopic devices market.
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The key players operating in the global laparoscopic devices market are Johnson & Johnson Services, Inc., Olympus Corporation, KARL STORZ GmbH & Co. KG, Stryker Corporation, Microline Surgical, Inc., Richard Wolf GmbH, Medtronic plc, Smith & Nephew plc, CONMED Corporation and Cook Medical Inc.
Natural Killer (NK) Cell Therapeutics Market - Pipeline Analysis, Share, Development and Demand Forecast to 2023
The global natural killer (NK) cell therapeutics market is expected to witness considerable growth due to increasing awareness regarding immunotherapy, advancement in technologies, high demand for safe and effective medication, reduction of side effects, high prevalence of chronic diseases such as cancer and cardiovascular diseases, and increasing incidences of infectious diseases. The regulatory bodies are supporting the growth of the global market by providing funding, designations and grants for speeding up the drug development process. Some drug candidates, such as Mogamulizumab, Lorvotuzumab Mertansine, AFM 13, FPA144, and NKTT-120, got orphan drug designation and fast track designation for NK cell therapeutics.
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The pipeline of NK cell therapeutics market is rich with more than 30 drugs. The pharmaceutical companies are actively involved in the research and development of drug for NK cells. Kyowa Hakko Kirin Co., Ltd. has Mogamulizumab drug in its Phase III clinical trial for NK cells therapeutics. Increasing use of combination therapy of NK cells is also a potential growth driver for the growth of the global market. Use of NK cells with Chimeric Antigen Receptor (CAR) T-Cell therapy helps to enhance the efficacy of the medication.
NK cells are granular lymphocytes that provide innate immunity and first line of defense against viral infections and cancer. Natural killer cells are made up of 5–15% circulating lymphocytes. It is found in peripheral tissues including liver, peritoneal cavity, and placenta. NK cell are activated by interleukins that is capable of extravasations and infiltration into tissues.
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Some of the key players operating in the global NK cells market are Chipscreen Biosciences, Ltd. Affimed N.V., Altor BioScience Corporation, Innate Pharma S.A., Takeda Pharmaceutical Company Limited, Sorrento Therapeutics Inc., NantKwest Inc., Bristol-Myers Squibb, and NKT Therapeutics, Inc.
Hypercholesterolemia Therapeutics Pipeline Analysis, 2017 - Clinical Trials & Results and Other Developments
Hypercholesterolemia is a disorder characterised by abnormally increased levels of cholesterol in the blood. The high levels of cholesterol increase a person's risk of developing cardiovascular diseases such as coronary artery disease, which involve build-up of plaque in the coronary arteries, in turn putting a person across the risk of suffering a heart attack. The main causes of hypercholesterolemia include heredity, diet high in saturated fats and cholesterol, other diseases such as diabetes mellitus, renal diseases and obesity, along with lifestyle changes including little exercise, smoking, alcoholism and stress. Lifestyle changes, dietary changes, and medications can control the disease to some extent. The main class of drugs prescribed to lower the increased cholesterol levels is called statins or HMG-CoA reductase inhibitors, and the other classes of drugs are in development phase. The hypercholesterolemia therapeutic pipeline is expected to witness growth mainly due to technological advancements in the field, along with increasing awareness regarding different cardiovascular diseases and the availability of their treatment options. Increasing prevalence of diabetes and obesity disorders and changing lifestyle of people are further contributing to the incidence of hypercholesterolemia, globally.
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In April 2017, Regeneron Pharmaceuticals, Inc.’s evinacumab received breakthrough therapy designation for the treatment of homozygous familial hypercholesterolemia (HoFH) from the U.S. Food and Drug Administration. Evinacumab is an investigational monoclonal antibody to angiopoietin-like protein 3 (ANGPTL3), which acts as an inhibitor of lipoprotein lipase and endothelial lipase, and appears to play a central role in lipoprotein metabolism. After reporting positive interim Phase II results, Regeneron is planning a Phase III trial for evinacumab in HoFH patients. In April 2017, Alnylam Pharmaceuticals partnered with The Medicines Company and RNA Biotech, for a Phase III trials that will randomize 3,000 subjects with ASCVD (atherosclerotic cardiovascular disease) and FH (familial hypercholesterolemia) to either inclisiran or placebo, with a primary endpoint of LDL cholesterol.
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The major companies having drugs in pipeline for the treatment of hypercholesterolemia include 3SBio Inc., Abeome Corporation, Aegerion Pharmaceuticals, Inc., AFFiRiS AG, Alnylam Pharmaceuticals, Inc., Alvogen Korea Co., Ltd., AtheroNova Inc., BioLingus AG, Catabasis Pharmaceuticals, Inc., Cerenis Therapeutics Holding SA, Chong Kun Dang Pharmaceutical Corp., CymaBay Therapeutics, Inc., Daewon Pharm Co. Ltd., Eli Lilly and Company, Esperion Therapeutics, Inc., F. Hoffmann-La Roche Ltd., Hanmi Pharmaceuticals, Co. Ltd., Immune Response BioPharma, Inc., Johnson & Johnson, Kadmon Corporation, LLC, Kastle Therapeutics, LLC, Kowa Company, Ltd., Kyorin Pharmaceutical Co., Ltd., Merck & Co., Inc., Omeros Corporation, Pfizer Inc., Planet Biotechnology Inc., Progenra, Inc., Regeneron Pharmaceuticals, Inc., RegenxBio Inc., Serometrix, LLC, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd., Thetis Pharmaceuticals LLC, Viking Therapeutics, Inc. and Zhejiang Hisun Pharmaceutical Co., Ltd.
Paroxysmal Nocturnal Hemoglobinuria Therapeutic Pipeline Analysis 2017
Paroxysmal Nocturnal Hemoglobinuria (PNH) is a rare life-threatening disease characterized by destruction of red blood cells, blood clots, and compromised bone marrow function. Some of the symptoms of the disease include abdominal and back pain, dark urine, easy bruising or bleeding, fatigue or weakness, headache and shortness of breath. The risk factors for PNH include age, obesity and hormone therapy. According to the Johns Hopkins Medicine, approximately, one to one and a half persons per million of the population are affected by PNH globally with a predominance in young adults. PNH is also associated with aplastic anemia and up to 30% of newly diagnosed cases of PNH progress from aplastic anemia. Treatment of PNH includes bone marrow transplantation and the only medicine approved by the USFDA for its treatment is eculizumab (Soliris), manufactured by Alexion Pharmaceuticals, Inc.
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The main growth drivers of the pipeline for PNH include increasing awareness and research funding from various non-profit organizations for the discovery and development of drugs for PNH, rising prevalence of aplastic anemia, innovations in genetic engineering and introduction of novel gene therapies, increasing knowledge of pathophysiology of thrombosis and discoveries of novel anticoagulants, price skimming and niche market opportunity.
In September 2016, Alexion Pharmaceuticals Inc. started a Phase III, randomized, open-label, active-controlled study of ALXN1210 versus eculizumab in complement inhibitor-naïve adult patients with PNH. ALXN1210 is a longer-acting anti-C5 antibody and is being evaluated for the treatment of patients with PNH. This study is expected to be completed in December 2017. In January 2015, Alnylam Pharmaceuticals Inc., began a Phase I/II study of subcutaneously administered ALN-CC5 in healthy adult volunteers and patients with PNH. ALN-CC5 is an RNAi therapeutic which targets the C5 component of the complement pathway. The study was expected to complete by December 2016, however, it is still ongoing. In February 2016, Akari Therapeutics plc initiated a Phase II trial evaluating Coversin in PNH in patients with resistance to eculizumab due to complement C5 polymorphisms. Coversin is a second-generation complement inhibitor which prevents release of C5a and formation of C5b–9. The trial is expected to complete in December 2018.
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Some of the companies involved in the development of drug candidates for PNH include Alexion Pharmaceuticals Inc., Alnylam Pharmaceuticals Inc., Akari Therapeutics plc, CMIC Co, Ltd. Japan, Achillion Pharmaceuticals, Inc., Apellis Pharmaceuticals, Inc., and Ra Pharmaceuticals Inc.
