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CRIFAX added a report on ' Head and Neck Squamous Cell Carcinoma (HNSCC) treatment and Drugs market Analysis Report, Global Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Russia, China, India, Japan, Australia, South Korea, Malaysia, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2022 – 2031' to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, recent trends, mergers and acquisitions, region-wise growth analysis along with challenges that are affecting the growth of the market are also stated in the report.
In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country's goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
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On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
The Head and Neck Squamous Cell Carcinoma (HNSCC) Treatment and Drugs Market is estimated to witness dynamic growth over the next eight years. This growth can be attributed to progression of technology and medicines due to rising number of health ailments across the globe. This has further led to implementation of advanced healthcare facilities via numerous health care initiatives and health plans proposed by government bodies of various nations in order to provide better care to the patients. According to World Health Organization, the total healthcare expenditure (% of GDP) around the world increased from 9.2% in 2006 to 10.02% in 2016. The highest expenditure was recorded in the United States, i.e., 17.07% in 2016 as compared to 14.66% in 2006.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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Additionally, growing rate of technological advancements in healthcare has led to improved detection, prevention and treatment of health problems. Moreover, improved efficiency provided by electronic databases holding huge amount of medical records has eliminated the errors and challenges faced while searching for patients' medical history.
Growing rate of geriatric population is another significant factor contributing to the growth of the Reprocessed Medical Device Market. The elderly population is more prone to health problems such as arthritis, cataracts, cancer, dementia and CVDs among others, which requires continuing medical care, thereby driving vast demand for elderly health facilities. According to W.H.O., the world's geriatric population, aged 60 years and older, is estimated to reach 2 Billion by 2050 from 900 million in 2015. These statistics are predicted to drive significant demand for old age nursing and homecare facilities, which is further estimated to drive notable opportunities in the global Head and Neck Squamous Cell Carcinoma (HNSCC) Treatment and Drugs Market over the forecast period i.e. 2022-2031. Moreover, various health initiatives to provide efficient prevention and control interventions to bring down growing rate of health problems around the globe is contributing significantly to the growth of the market. For instance, CDC (Centers for Disease Control and Prevention), United States' leading health institute, introduced health initiatives such as HI-5, Winnable Battles, Million Hearts, and 6|18 initiatives to focus on health problems that can be prevented.
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Furthermore, to provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the global Head and Neck Squamous Cell Carcinoma (HNSCC) Treatment and Drugs Market report. Moreover, the report consists of market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter's five forces analysis, absolute $ opportunity and anticipated cost structure of the market.
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