In-Depth Exploration of the Medical Devices Reimbursement Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2030.
Report Ocean has recently released a comprehensive research report on the global Medical Devices Reimbursement Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
Global Medical Devices Reimbursement Market is valued approximately USD 434.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.40% over the forecast period 2022-2028.
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Medical device reimbursement is defined as the payment made to a healthcare provider by a private insurer for expenditures incurred while utilizing medical equipment. Typically, health insurers or government payers cover patients’ healthcare bills, including the usage of medical devices. Certain aspects propelling the market include technological developments in Electronic Medical Records (EMR), an increase in chronic illness cases, and a growing requirement for reimbursement. The need for remote monitoring surged during the COVID-19 epidemic, and today many public organisations such as Medicare compensate for remote monitoring. Remote monitoring has become more important in the treatment of chronic illness patients. The rising prevalence of chronic illnesses is predicted to increase demand for remote monitoring in the future years, positively impacting market growth. The Affordable Care Act of the United States focuses on lowering healthcare expenses for patients. The primary goal of this legislation is to lower medical device prices and make affordable healthcare insurance available to all citizens of the United States.
Furthermore, the Center for Medicaid and Medicare is aiming to make high-quality medical equipment and health insurance available to billions of people. As a result, Medicaid spending in the United States grew by 4.5 percent in 2019. Furthermore, according to a research issued by the Center for American Progress (CAP), the US spent around USD 1.3 trillion on healthcare reimbursement in 2019. As a result, the market is likely to develop at a rapid pace over the forecast period. Following the COVID-19 epidemic, different governments are offering further payment for medical gadgets. For example, the French National Authority for Health issued proposals in May 2022 for expanding payment for medical equipment such as diagnostic imaging devices, cardiovascular and peripheral vascular devices, and interventional radiology devices. Such government efforts are projected to assist market expansion in the future years. However, the Delay in Medical Devices Reimbursement stifles market growth throughout the forecast period of 2022-2028.
The key regions considered for the Global Medical Devices Reimbursement Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America had the highest revenue share due to favourable regulatory rules and a robust reimbursement mechanism. Medical device reimbursement provisions are also extensively established in the region. The increased incidence of chronic illnesses, together with rising demand for medical equipment, is likely to boost market growth in this area over the forecast period. Rising healthcare spending, chronic illness incidence, and rising resource demand in emerging nations such as China, Japan, South Korea, and India are expected to drive considerable development in the Asia Pacific region throughout the projection period. These nations are following the policies of the United States and Europe in order to simplify and establish a highly efficient healthcare management system, which is expected to have a beneficial influence on market growth.
Major market player included in this report are:
Aviva
Nippon Life Insurance
CVS Health
WellCare Health Plans, Inc.
BNP Paribas
Allianz
Humana Inc.
Cigna
UnitedHealth Group
Anthem Insurance Companies, Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Payer:
Public
Private
By Healthcare Setting:
Hospitals
Outpatient Facilities
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Medical Devices Reimbursement market, including:
- What can be expected for the Medical Devices Reimbursement market in the next decade?
- What are the primary drivers of growth in the global Medical Devices Reimbursement market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Medical Devices Reimbursement market vary based on the size of the end market?
- What is the breakdown of Medical Devices Reimbursement by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Medical Devices Reimbursement market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Medical Devices Reimbursement Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Medical Devices Reimbursement Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Medical Devices Reimbursement Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Medical Devices Reimbursement Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Medical Devices Reimbursement Market.
Our Medical Devices Reimbursement Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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