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The key reasons behind the advance of the digital health market are the widening applications of mobile health (mHealth), rising adoption of smartphones and tablets, and increasing government support for such solutions. From its value of $73.1 billion in 2017, the market is projected to grow at a 21.1% CAGR during 2018–2023 (forecast period), to reach $223.7 billion in 2023. Digital health refers to the use of mobile devices and information technology to offer various healthcare services.

When segmented by technology, the market categories are telemedicine, healthcare analytics, electronic health record (EHR), and mHealth. Of these, mHealth led the digital health market in 2017, with a 31.5% share, which is predicted to rise to 59.1% in 2023, at a 33.5% CAGR during the forecast period. This would be due to the increasing support of governments across the world for the adoption of this technology and surging awareness of people on the subject.

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As per the European Commission, due to the fact that mobile phones are the most widely used devices to connect to the internet, the number of mobile applications has surged sharply in the last 5–6 years. With the shift of people to such telecommunication devices, the download rate of healthcare apps is also increasing. With such apps, EHRs can be speedily sent and diagnosis and medical advice received over the internet or cloud, which saves patients the time and cost spent on visiting hospitals or clinics.

Globally, North America led the market during the historical period (2013–2017), owing to its advanced healthcare and IT infrastructure, surging medical spending, and growing usage of digital healthcare solutions. Asia-Pacific is predicted to observe the highest CAGR, of 26.6%, in the digital health market during the forecast period, due to the increasing geriatric population, prevalence of chronic diseases, adoption of smart phones, government investments, and grants, and improving healthcare infrastructure.

The increasing adoption of DOA testing at the organizational level, growing number of road accidents and deaths, and rising consumption of illicit drugs are some of the reasons behind the growth of the DOA testing market. In 2016, the market generated a revenue of $4.8 billion, and it is predicted to advance at a CAGR of 9.6% during the forecast period (2017–2023). Drug testing refers to the technical analysis of sweat, blood, saliva, urine, breath, and hair samples to detect the presence of cocaine, cannabis, and alcohol. 

Based on product, the drug of abuse testing market is bifurcated into consumable and equipment. Of these, during the historical period (2013–2016), the consumable bifurcation led the market in terms of revenue, and it is predicted to continue leading it during the forecast period. The reason behind the rapid growth of consumables is that these are handy and available for on-site testing for various types of drugs. Consumables include products such as rapid test kits that are used for the testing of illicit drugs.

To improve safety, increase productivity, and reduce absenteeism, organizations are rapidly adopting DOA testing at the workplace. As per the Substance Abuse and Mental Health Services Administration, in 2015, the hospitality and food services sector displayed the heaviest use of illicit drugs, and around 19.1% fulltime workers, aged between 18 and 64 years, in the U.S. were reported as consuming illicit drugs in a span of 30 days during 2008–2012. Due to the rising consumption of illicit drugs, organizations are rapidly using DOA testing kits.

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As per the 2014 National Survey on Drug Use and Health (NSDUH) in the U.S., 10.0 million people aged 12 years or above were driving after consuming illicit drugs in 2013. The consumption of illicit drugs is rising rapidly, due to which the usage of drug abuse testing is also on the rise, which, in turn, is resulting in the growth of the DOA testing market. As per the World Drug Report by United Nations Office on Drugs and Crime, in 2013, around 203.0 million illicit drug users aged 15 years to 64 years existed in the world, and the number increased to nearly 246.0 million in 2015. 

The global point-of-care diagnostics market is witnessing growth, due to miniaturization of point-of-care testing devices, technological advancement of point-of-care devices, and healthcare decentralization. Based on product, the glucose monitoring kits segment is the largest contributor to the global point-of-care diagnostics market, due to increasing prevalence of lifestyle associated diseases, such as diabetes; whereas, the cardiac markers and infectious diseases segments are expected to grow at the fastest rate in the coming years.

The massive unexplored point-of-care diagnostics market in the emerging economies is creating ample opportunities for the growth of the global point-of-care diagnostics market, in the coming years. The advanced research and development activities and new product developments by the major players are supporting the demand of point-of-care devices, with better and cost effective point-of-care diagnostics, thus fuelling the growth of the global point-of-care diagnostics market.

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Geographically, North America leads the global point-of-care diagnostics market, due to increasing lifestyle associated disease and increasing usage of point-of-care devices. Asia-Pacific is the fastest growing region in the global point-of-care diagnostics market, which is driven by growing healthcare expenditure, large pool of patients, increasing government initiatives and support.

Moreover, the Asia-Pacific point-of-care diagnostics market is growing rapidly, due to growing research and development activities, and increasing funding towards development of point-of-care diagnostic products in the emerging economies, such as India and China.

The rising concern associated with radiation exposure, increasing awareness and industry initiatives regarding the issue, and surging prevalence of chronic diseases are some of the factors responsible for the growth of the radiation dose management market. In 2016, the market generated a revenue of $129.8 million, and it is expected to attain a size of more than $1700.0 million by 2023, advancing at a CAGR of 46.0% during the forecast period (2017–2023).

RDM refers to a solution that can be integrated with medical systems, such as electronic health record (EHR), picture archiving and communication system (PACS), and radiology information system (RIS), to monitor, archive, and track the radiation exposure and aid in improving patient safety. Based on product, theradiation dose management market is bifurcated into solutions and services. Of these, during the historical period (2013–2016), solutions dominated the market, and these are projected to continue dominating it during the forecast period.

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One of the main purposes of radiological protection is to prevent the patient from the adverse effects of radiation. Exposure to high radiation doses over a short period can sometimes cause life-threating diseases, such as cancer and radiation sickness, symptomized by fainting, nausea, vomiting, hair loss, diarrhea, bleeding, confusion, and mouth and skin sores. Radiation exposure not only affects patients, but it can also affect the public, as well as those inside medical and emergency settings. Therefore, the need to check radiation exposure is boosting the growth of the radiation dose management market.

Hence, the growing awareness on the adverse effects of radiation exposure, governments’ surging initiatives, and increasing incidence of chronic diseases are predicted to augment the market growth.

A recent trend observed in the tissue diagnostics industry is increasing usage of immunohistochemistry products as companion diagnostics devices. Increasing prevalence of cancer has fuelled the demand of better diagnostic techniques, which could detect cancer in the earliest stage. According to the WHO, in 2012, there were 14 million new cancer cases and 8.2 million cancer related deaths worldwide.

The global tissue diagnostics market is categorized on the basis of product type, technology, application, and end-user. Based on product type, the tissue diagnostics market can be categorized as instruments and consumables. On the basis of technology, the tissue diagnostics market is categorized as digital pathology and workflow management, in situ hybridization, immunohistochemistry, and special staining. The immunohistochemistry segment leads the global tissue diagnostics market in terms of market size.

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Some of the factors driving the growth of the global tissue diagnostics market are increasing prevalence of cancer, increasing investment in tissue diagnostics by pharmaceutical companies, rising awareness for cancer, rapidly aging population, technological advancements in tissue diagnostics procedures, and increasing healthcare expenditure. In addition, tissue diagnostic procedures enable medical professionals to detect cancer in early stage; hence, fueling the growth of the market. However, high cost of tissue diagnostics instruments and stringent regulatory requirements are some of the factors restraining the growth of the global tissue diagnostics market to some extent.

Some of the major players operating in the global tissue diagnostics market are F. Hoffmann-La Roche AG., Sigma Aldrich Corporation, Abbott, Biogenex Laboratories, BioSB, Cell Signalling Technology Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Agilent Technologies, GE Healthcare, and Siemens Healthcare.

The global medical tourism market is growing significantly due to high cost of healthcare expenditure in developed countries. According to Centers for Disease Control and Prevention, approximately 750,000 U.S. people travel out of the country for medical care each year. In addition, rise in aging population, reduced cost of procedure in developing countries, and high standards of medical care at a reasonable price are expected to support the medical tourism market to grow in the coming years. Aging increases the risk of diseases, such as heart disease, gastrointestinal diseases and lifestyle associated diseases. According to the World Health Organization, the population of 60 years and above is expected to rise to 15% in 2050.

Medical tourism refers to travelling to another country for medical treatment. Patients may go for medical care to another country for a range of reason, such as decreased cost, or to receive a procedure or therapy not available in their country. Services ranging from essential treatment to different kind of alternative treatments are provided through medical tourism. Cosmetic surgery, orthopedic surgery, weight loss surgery, heart surgery, oncologic care, reproductive treatment and dental treatment are some of the common procedures that people undergo on medical tourism.

Medical tourism is promoted in countries such as Taiwan, Malaysia, Brazil, India, Singapore, Turkey, South Korea, and Mexico. India and Malaysia are expected to grow with the highest rate in the coming years, due to improving healthcare infrastructure, high healthcare standards with low cost, highly skilled professionals, cost effective treatment for several diseases, increasing government initiatives to improve medical services and availability of technologically advanced solutions for various conditions. Thailand is the most preferred destination among the Western European tourists for cosmetic surgery, and Singapore is specialized in complex procedures. Moreover, medical tourism in Malaysia is also emerging due to increasing government initiatives to improve medical services.

Some of the hospitals operating in the medical tourism market are Apollo Hospital Enterprise Limited, Asian Heart Institute, Bumrungrad International Hospital, Min-Sheng General Hospital, Min-Sheng General Hospital, KPJ Healthcare Berhad, Bangkok Hospital Medical Center, Fortis Health Ltd., Prince Court Medical Center, Samitivej Sukhumvit, and Raffles Medical Group.

The globalbiomaterials marketis growing at a significant rate, due to increasing healthcare expenditure, growing geriatric population and increasing incidence of cardiovascular diseases. The technological advancement in biomaterials, growing demand of implantable devices, and increasing incidence of hip and knee replacements are also driving the growth of the global biomaterial market. However, factors such as strict regulatory requirements for approval of biomaterials and limitations of biomaterials are inhibiting growth of the market globally.

Geographically, North America dominated the global market of biomaterial in 2015. Asia-Pacific is expected to witness the fastest growth, a CAGR of 18.3% during the forecast period. This is due to increasing geriatric population, increasing healthcare expenditure, increasing research & development, and growing incidence of cardiovascular diseases in the region.

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Some of the key companies operating in the global biomaterial market include Wright Medical Technology Inc., Corbion N.V., Royal DSM, Zimmer Biomet Holdings Inc., Collagen Matrix Inc., Berkeley Advanced Biomaterials Inc., and Cam Bioceramics BV.

Global Biomaterial Market Segmentation

Growing demand for remote patient monitoring, mHealth technologies, and advanced healthcare information system, as well as increasing prevalence of chronic disease and rising government support are driving the market for IoT healthcare. Valued at $56.1 billion in 2017 by P&S Intelligence, the IoT healthcare market is projected to witness a CAGR of 30.2% during the forecast period 2018–2023. The study also estimated its 2023 size to be $267.6 billion.

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When talking specifically of the healthcare sector, internet of things (IoT) refers to all the medical devices that can communicate with each other via sensors, in-built software or internet connection. On segmenting the IoT healthcare market by component, we get medical devices, systems and software, and services as the three categories. Among these, the medical devices category dominated the domain in 2017 with 44.6% revenue share. These devices record patients’ medical data and send it over to the cloud for storing, sharing, and analyzing.

IoT-enabled medical devices allow for real-time disease management and lead to healthcare cost reduction. These also help in getting patients discharged quickly and reduce the need for follow-up visits by sending the medical data directly to the doctor via the internet. In this way, these allow for remote patient monitoring, which is of special necessity to the elderly, who are more prone to diseases and cannot always visit a healthcare facility. Therefore, a rise in the demand for connected medical devices and remote patient monitoring are having a positive effect on the domain progress.

Growing prevalence of lifestyle-related and chronic diseases has created the need for constant self-monitoring of health parameters. Several mHealth apps help people keep a check on their glucose levels, heart rate, blood pressure, and other vitals. These apps and connected medical devices have popularized the use of IoT in personalized healthcare management, as these also record the disease progression, and help patients in scheduling appointments and managing medication. The rising smartphone use has led to an increase in mHealth app downloads, further impacting the IoT healthcare market positively.

The molecular cytogenetics market is projected to witness fastest growth in APAC, at CAGR of 11.8%, mainly due to the large population in the region, untapped market and entry of global players in the industry to offer cytogenetic testing. Government initiatives such as mandatory testing, funding and training programs to the researchers are some other factors that are propelling the growth of the market in the region.

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According to the World Bank, the healthcare expenditure of South Asia was 3.9% of its total GDP in 2000, which increased to 4.4% in 2014. The growing healthcare infrastructure in APAC is creating huge revenue generation opportunities for the pharmaceutical and biotechnology companies in the region.

Globally, key players in the molecular cytogenetics industry are developing new instruments and tests for the molecular diagnosing, genetic screening and other tests. For instance, in July 2017, Quest Diagnostics announced the launch of a genetic screening service, QHerit. The service is for the detection of genetic risk associated to offspring through passing of heritable disorders. The QHerit Pan-Ethnic Expanded Carrier Screen is a panel of tests for the 22 heritable diseases cited under new screening guidelines issued in March 2017 by the American College of Gynecology (ACOG).

Some of the other key players operating in the molecular cytogenetics industry include Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories Inc., F. Hoffmann La-Roche AG, PerkinElmer Inc., Illumina Inc, Agilent Technologies Inc and NeoGenomics Inc.

The high growth is expected due to the increasing government initiatives for the adoption of EHR systems, rising adoption of healthcare intranet technologies (HCIT), rising usage of EHR solutions, and need to reduce the overall healthcare cost.

Due to the development of cloud-based ambulatory EHR solutions, it is possible to keep data safe, secure and fully accessible regardless of time or network traffic. Cloud based solutions require less capital investment, demand fewer IT resources, take up less space, and update automatically, resulting in significant cost savings for clinics without requiring extra time and staff to support bulky hardware installations. The implementation of EHR systems is simpler as it runs on the web instead of computer that means there is no requirement of any software or hardware. Also, cloud-based solutions do not require any hardware installation or software licenses, therefore the implementation cost is very less. Cloud-based EHR solutions require HIPAA compliance through data centers with bank-level security and high-level encryption methods that render data unreadable. Due to several advantages offered by cloud based ambulatory EHR, demand of cloud based ambulatory EHR is increasing. The increasing demand of cloud-based solution is likely to create opportunities for the players in the ambulatory EHR market to develop more advanced solutions.

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The European market for ambulatory EHR was valued at $1.2 billion in 2016 and is expected to grow at a CAGR of 5.7% between 2017-2023, to reach $1.8 billion by 2023. The market for ambulatory EHR in Europe is witnessing growth due to the increasing adoption of EHR in various countries in this region, introduction of regulations related to EHR, increasing aging population, and rising incidences of cardiovascular diseases, chronic pain, and neurological disorders. Among the countries of the European region, the U.K is the most promising market for ambulatory EHR and held the largest share of the European ambulatory EHR market in 2016. This growth in the country is mainly due to increasing government funded initiatives in the country as a result of which the NHS is expected to go paperless by 2018 to improve health services and reduce overall cost associated with healthcare services. Germany is expected to project the fastest growth during the forecast period owing to increasing adoption of EHR in large to medium sized practices.

Some of the key players operating in the ambulatory EHR market include General Electric Company, Cerner Corporation, Epic Systems Corporation, Mckesson Corporation, Quality Systems, Inc., eMDs Inc., Allscripts Healthcare Solutions, Inc., Greenway Health, LLC.

The U.S. scar treatment market size is expected to reach $11.3 billion by 2023. The market is mainly driven by increasing number of surgeries for the improvement of physical appearance, growing prevalence of skin problems leading to scar formation, increasing expenditure on personal care, and technological advancements in dermatological products.

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On the basis of end user, the scar treatment market is categorized into home-use, hospitals, dermatology clinics, and others. During the forecast period, the market is expected to witness the fastest growth in hospitals end-user category, with CAGR of 11.2%. This growth is mainly characterized by technological advancements in the laser-based products for the treatment of scars, increasing adoption of these products by the surgeons, and rising number of surgical procedures performed in the U.S. hospitals.

The key players operating in the U.S. scar treatment industry are launching various topical products that are intended to be used at-home by the users. For instance, in April 2018, Sonoma Pharmaceuticals Inc. received approval from the United States Food and Drugs Administration (USFDA) for an antimicrobial post-therapy gel. It used to manage post-non-ablative laser therapy procedures and post-microdermabrasion therapy as well for superficial chemical peels. The product can also be used to relieve itch and pain from minor skin related problems.

Some of the other key players operating in the U.S. scar treatment market are Revitol Corporation Inc., CCA Industries Inc., Scarguard Labs LLC, Quantum Health, Valeant Pharmaceuticals International Inc., Pacific World Corporation, Merz Pharma GmbH & Co. KGaA, and Johnson & Johnson.

The agricultural biotechnology market size is projected to cross $55.5 million by 2023, growing at a CAGR of 10.1% during 2017-2023. The market is growing mainly due to the increasing demand of agricultural biotechnology products include; the growing population size, rising per capita income, growing demand for biofuel, thriving demand for transgenic crops and regulatory support in the U.S. and Brazil.

The global agricultural biotechnology market in terms of product is bifurcated into transgenic seeds and crop protection products. Transgenic seeds accounted for the larger market share of 79.5% during the forecast period, attributed to their increasing adoption of these to prevent the impact of adverse climatic conditions such as droughts in the region. Also, rising global population is putting pressure on farmlands to produce more food, especially in developing countries such as India, China and given that the area under cultivation cannot be increased beyond a certain limit, the only way to increase production is through yield improvements, thus increasing the demand for transgenic seeds.

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It has been observed that over the last decade biofuels have become a promising solution in solving environmental, and economic challenges associated with petroleum dependency and provide energy security. This increase in demand for fossil fuels is because it provides fuel security and produces less pollution, as compared to other conventional fossil fuels such as petroleum, coal and gas. Developed countries in the Europe and North America are beginning to see declines in liquid fuels consumption from the road transportation sector, due to increased vehicle fuel efficiency and growing interest in alternative fuel vehicles. For instance, according to the United States Department of Agriculture (USDA), EU-27 has a minimum target of 5.75% biofuel in 2010 and aims to increase it to 10.0%, by 2020. Also, the U.S. passed a Renewable Fuel Standard (RFS) in 2007 of 12 billion gallons of ethanol and 650 million gallons of biodiesel in 2010. The requirement for renewable fuel increases every year and it is expected to reach 36 billion gallons in 2022, further supporting the demand for agricultural biotechnology products and driving the growth of the agricultural biotechnology market.

Some of the key players operating in the agricultural biotechnology market include Syngenta AG, Performance Plants Inc., Monsanto Company, Certis USA LLC, BASF SE, Vilmorin & Cie, Evogene Ltd., ADAMA Agricultural Solutions Ltd., KWS SAAT SE, DowDuPont Inc., and Global Bio-chem Technology Group Company Limited.