The medical devices reimbursement global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Devices Reimbursement Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The medical devices reimbursement market size has grown strongly in recent years. It will grow from $549.53 billion in 2023 to $602.26 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to government healthcare policies, increased disease burden, patient access and affordability, healthcare cost containment, provider and payer collaboration, increasing regulatory compliance..
The medical devices reimbursement market size is expected to see strong growth in the next few years. It will grow to $846.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to value-based healthcare models, rising demand for precision medicine, global health security initiatives, focus on patient-centric care, collaboration with health technology assessment (hta), government investments in healthcare.. Major trends in the forecast period include integration of digital health technologies, collaborative agreements between manufacturers and payers, focus on real-world evidence and health economics data, adoption of pay-for-performance models, value assessment frameworks implementation, advancements in risk-sharing agreements..
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Scope Of Medical Devices Reimbursement Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Devices Reimbursement Market Overview
Market Drivers –
The growing demand for minimally invasive surgeries is expected to propel the growth of the medical device reimbursement market going forward. Minimally invasive surgery (MIS) is a medical approach that utilizes specialized techniques and instruments to perform surgical procedures with the least disruption to the patient’s body compared to traditional open surgery. The benefits of medical device reimbursement for minimally invasive surgery include increased patient access to advanced procedures and reduced healthcare costs through shorter hospital stays. For instance, according to Private Clinic Group Limited, a UK-based medical organization, in 2021, plastic surgeons performed over 12.8 million surgical procedures and 17.5 million non-surgical treatments globally. This represents a 19.3% increase in procedures performed by plastic surgeons compared to 2020. Therefore, the growing demand for minimally invasive surgeries is driving the growth of the medical device reimbursement market.
Market Trends —
Major companies operating in the medical device reimbursement market are focusing on developing technological advancements such as electronic medical records (EMR) to sustain their position in the market. Electronic medical records (EMRs) are digital versions of a patient’s paper medical charts, which are used to support reimbursement claims, ensuring that devices are medically necessary and appropriately utilized. For instance, in April 2023, Wemex Corporation, a Japan-based IT solutions company, launched the medicom-HRf hybrid cloud, an integrated electronic medical record (EMR) system that uses cloud technology to support location-free operations for clinics. Hybrid cloud solutions such as Medicom-HRf can seamlessly integrate various data sources, such as patient records, medical billing, insurance claims, and regulatory information. This integration provides a comprehensive view of patient treatment and billing history, crucial for accurate reimbursement. Medical device companies can access up-to-date information on insurance coverage, reimbursement rates, and claim status.
The medical devices reimbursement market covered in this report is segmented –
1) By Payer: Public, Private
2) By Claims: Underpaid, Full
3) By Healthcare Setting: Hospitals, Outpatient Facilities, Other Healthcare Settings
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Regional Insights —
North America was the largest region in the medical devices reimbursement market in 2023. The regions covered in the medical devices reimbursement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the medical devices reimbursement market report are UnitedHealth Group, CVS Health Corporation, Cigna Corporation, Anthem Insurance Companies Inc., Axa S.A., Assicurazioni Generali SpA, Humana Inc., Reliance Nippon Life Insurance Company Limited, MetLife Services and Solutions LLC, Aetna Inc., New York Life Insurance, Nationwide Mutual Insurance Company, American International Group Inc., Allstate Insurance Company, BNP Paribas S.A., Zurich Insurance Group Ltd., Aegon Life Insurance Company, Aviva plc, WellCare Health Plans Inc., Pacific Life Insurance Company, Allianz SE, Bright House Financial Inc., Globe Life Inc., Munich Re Group, Symetra Life Insurance Company, Sumitomo Life Insurance Company, NAMSA Inc., Colonial Penn Life Insurance Company, Musculoskeletal Clinical Regulatory Advisers LLC, Assurity Life Insurance
Table of Contents
1. Executive Summary
2. Medical Devices Reimbursement Market Report Structure
3. Medical Devices Reimbursement Market Trends And Strategies
4. Medical Devices Reimbursement Market — Macro Economic Scenario
5. Medical Devices Reimbursement Market Size And Growth
…..
27. Medical Devices Reimbursement Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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