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CRIFAX added a report on 'North America Anti-Glomerular Basement Membrane (Anti-GBM) Disease Market, 2023-2033 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.
The rising prevalence of health-related diseases and disorders raises the demand for better healthcare services and technologically advanced equipment and treatment methods. In order to operate these, the requirement for highly qualified medical professionals increases and thus generates high employment opportunities in the region. According to statistics published by the U.S. Bureau of Labor Statistics, the rate of employment of various medical professionals in the healthcare industry is anticipated to grow by 14% between 2018 and 2028. Further, about 1.9 million jobs in the industry were estimated to be added during this period in the United States. The highest median annual wage was recorded to be USD 208,000 or more for physicians and surgeons in 2018.
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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.
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.
Similarly, the recorded median annual pay for other healthcare occupations in May 2018 was USD 158, 240 for dentists, USD 126,120 for physicians, USD 84,270 for occupational therapists and USD 29,740 for various healthcare support occupations such as home health aides and medical transcriptionists.
The greater demand for medical services and healthcare facilities in the North America region is estimated to considerably impact the growth of North America Anti-Glomerular Basement Membrane (Anti-GBM) Disease Market in the region between 2023 and 2033. Moreover, the increased spending by the population in countries such as United States and Canada is further leading to the growth of this industry. The health expenditure per capita based on the purchasing power parity (PPP) in United States rose significantly from USD 9,053.43 in 2014 to USD 9,869.74 in 2016, while it went from USD 4,529.36 in 2014 to USD 4,718.30 in 2016 in Canada, according to the World Health Organization. The personal healthcare expenditure in United States, as stated by the Centers for Disease Control and Prevention, was estimated to increase by an annual percent change of 4.6% during 2006-2016 with total spending of USD 1,804 Billion in 2006 which augmented to USD 2,834 Billion in 2016. This can be attributed to the substantial demand for novel medical technologies and healthcare assistance in North America.
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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 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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