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Growing rate of technological advancements in the healthcare industry has driven the growth of the global Predisposition Biomarkers in past few years. Increase in medical innovations amidst rising number of health disorders around the globe has driven numerous government bodies to ensure the quality of medical services through introducing numerous health initiatives and schemes in their respective countries. As per the statistics by NHEA (National Health Expenditure Accounts), the total health care spending in the United States accounted for $ 3.5 trillion (USD 10,739 per person) with an overall growth of 3.9% in 2017. As a share of United States’ GDP, the health care spending accounted for 17.9% in the same year. This health share of Gross Domestic Product is estimated to grow to 19.4% by 2027. The market is anticipated to attain considerable Y-o-Y growth rate in 2026 as compared to the growth rate achieved in 2017.
According to the projections by CMS (Centers for Medicare and Medicaid Services), the total healthcare expenditure in the United States for the time period of 2018-2027, is estimated to grow at an average rate of 5.5%, amounting to USD 6 Trillion by 2027. This growth is predicted to be 0.8% faster than GDP per year during the same time period. Moreover, with an accelerated price growth of 0.3% to 0.7%, the physician and clinical services spending is estimated to have grown from 4.2 % in 2017 to 4.9% during 2018. Our study on global Predisposition Biomarkers market offers extensive evaluation pertaining to overall market scope and growth rate per annum in terms of revenue, market segmentation, recent trends and opportunities, growth indicators and challenges that are impacting the growth of the market. The global Predisposition Biomarkers market is likely to attain notable absolute $ opportunity value in 2026 as compared to the value achieved in 2019.
Our exhaustive and quantitative analysis identify existing and future market position of various brands across the Global Predisposition Biomarkers market. Additionally, the market study covers correlation and regression in order to determine relationship between independent and dependent variables along with supply and demand risks that are impacting the growth of the market. Moreover, the report on global Predisposition Biomarkers market consists of a separate section on macro-economic indicators that are affecting the growth of the market.
In 2018, the U.S. hospital spending (4.4%) is estimated to have grown slightly slower that the growth rate of 4.6% that was observed in 2017. This can be attributed to lesser growth rate in private health insurance hospital spending, as well as, Medicaid spending during 2018. According to CDC (Centers for Disease Control and Prevention), the overall personal health care expenditures for Medicaid increased from USD 283.3 Billion in 2006 to USD 505.2 Billion in 2016 with the growth rate of 6% during 2006-2016. Out of this, the Federal Medicaid segment attained USD 319.2 Billion with an average annual growth rate of 7%, whereas, the state and local Medicaid expenditure reached USD 186.1 Billion in 2016, with 4.3% growth between 2006 and 2016. In personal health care expenditure, the hospital segment accounted for 38.2%, whereas, the other types of expenditures including residential and personal care, durable and non-durable medical products accounted for 13.4% in 2016.
In an attempt to provide cost-effective methods to tackle poor health along with high healthcare expenditure, the CDC developed a health initiative, HI-5. The HI-5 or the Health Impact in 5 Years Initiative emphasize on community-wide health improvement by preventing or reducing several health conditions such as depression, anxiety, CVD, blood pressure, child abuse and sexual violence, obesity, traumatic brain injuries, teenage pregnancy, Type II Diabetes, infant mortality, STD and liver cirrhosis among others. This method complements other CDC initiatives, for instance, the Winnable Battles, Million Hearts, 6|18 initiatives, all of which, focus on health conditions that can be prevented. These collaborations are contributing towards improving Medicaid coverage and providing efficient prevention and control interventions.
A separate section in the report highlights regional scenario in market which includes North America (further segregated into U.S. and Canada).
The report further includes a section on European region which is further segmented on a country/regional level including Germany, U.K., France, Italy, Spain, BENELUX, Netherlands, NORDIC, Poland, Hungary, Russia, Turkey, and Rest of Europe.
In the Asia Pacific Predisposition Biomarkers market, the report studies China, India, South Korea, Indonesia, Malaysia, Japan, Australia, New Zealand and Rest of Asia Pacific. In the Latin America section, an in-depth analysis on Mexico, Brazil, Argentina and Rest of Latin America is covered. Middle East and Africa region have been further identified for the Predisposition Biomarkers market demand and segregated into Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East and Africa.
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
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