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The Research Report is Updated with 2020 Base Year, 2021 Estimated year and Forecast till 2030 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2020 as base year, 2021 as estimated year and forecast to 2030. This will have market drivers, recovery rate in the market, insights and competitive analysis.
The global Companion Diagnostic Technologies market is estimated to grow at a steady and consistent rate over the next 6-7 years, on account of rapid progress taking place over the past few years. With considerable expansion in allocation made towards healthcare system in the last five years, the Companion Diagnostic Technologies market is anticipated to record noticeable growth over the next decade. The total expenditure by EU-28 was nearly 7% of the total GDP, which was the second largest expenditure behind social protection at USD 1216 billion as of 2017. Nearly 3.2% of GDP was utilized towards hospital services. Additionally, around 1% of GDP was being utilized towards medical equipment/products/appliances and 2.2% of GDP towards outpatient services. In 2017, Norway had reportedly spent the highest at about 8.5% of its GDP towards healthcare, followed by Denmark (8.4% of GDP), Austria (8.2% of GDP) and France (1% of GDP). All these factors are helping raise the demand for Companion Diagnostic Technologies in the next 6-7 years. The Asian market is offering opportunities for expansion and several market players are anticipated to benefit in the growing Companion Diagnostic Technologies market. Also, new market players are anticipated to establish their operations, on account of huge demand generated for Companion Diagnostic Technologies, owing to the prevalence of a positive GDP rate, consecutive rise in healthcare spending as a percentage of GDP, growing rate of health insurance and faster penetration of medical tourism owing to affordable costs prevailing especially in countries such as Philippines, India, Indonesia and Thailand. Highest consumption of Companion Diagnostic Technologies has been reported in Asia-Pacific region which is offering opportunities to many market players, including new market players for making investments in the region. The scope of the global Companion Diagnostic Technologies market, including its growth potential on an annual basis in terms of revenue, market segmentation including various growth drivers, market restraints, opportunities and trends impacting the growth of the market is being covered extensively. The global Companion Diagnostic Technologies market is anticipated to achieve considerable absolute $ opportunity value in 2027 as compared to the value achieved in 2019.
The global Companion Diagnostic Technologies market study involves performance of a risk analysis by including supply and demand risks that may affect the growth of the market. Further, another section in which a correlation and regression analysis, presenting the relationship between dependent and independent variables is included along with the report. Additionally, the global Companion Diagnostic Technologies market includes a separate section on macro-economic indicators impacting the growth of the market.
The United States of America (U.S.) per capita healthcare expenditure exhibited a growth rate of 3.6% in 2016 incurring an amount of USD 9870 during the year. Globally, U.S. has continued to incur the highest expenditure by a government on health per capita based on purchasing power parity (PPP). The expenditure of U.S. government on health per capita based on PPP grew at 3.5% during 2016 and reached USD 8078 during the year. During the period 2013-2016, the growth of the healthcare expenditure per person in U.S. was at a CAGR of 4.5%. Nevertheless, the Donald Trump’s administration during May, 2019 had proposed a cut in its defence budget (USD 750 billion) to the tune of USD 845 billion from Medicare– a health programme that Trump’s administration had promised to leave untouched previously. It is anticipated that even if policies continue to stay the same which may impose a direct burden on consumer’s pocket and curtail the growth of Companion Diagnostic Technologies market in the next few years, the U.S. market would still manage to remain profitable for businesses and service providers.
The average rate of growth in personal disposable income recorded from 1960 to 2018 by Germany was USD 250.4 billion. There was a rise in personal disposable incomes during the fourth quarter of 2018 in Germany from USD 553 billion to USD 560 billion, touching an all-time high during the quarter from a record low of USD 25.5 billion in the first quarter of 1960. During the first quarter of 2019, the personal disposable income in France was recorded at USD 411 billion as compared to USD 408 billion recorded during the fourth quarter of 2018, thereby registering a marginal decline of 0.5% in personal disposable income during the quarter.
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 Companion Diagnostic Technologies 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 Companion Diagnostic Technologies 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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