(MENAFN- America News Hour) In its market research collateral archive, CRIFAX added a report titled ' North America Biological Sample Bags Market, 2023-2033′ . This report covers a detailed analysis of the overall market environment that are associated with the market growth, and also in cludes a brief of the key growth strategies used by the leading market players to remain ahead of competition. Additionally, the market research report also covers the historical, present and future growth prospects, along with the emerging trends, recent mergers and acquisitions, growth analysis based on region, and the challenges that may impact the market growth in the coming years.
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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.
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The North America Biological Sample Bags market is predicted to witness substantial expansion during the forecast period, i.e., 2023-2033. The growth of the market can majorly be attributed to the rising expenditure on health care by individuals as well as the government. In the statistical database titled Global Health Expenditure Database, shared by the World Health Organization (WHO), the health spending per capita in the United States grew from USD 4543 in the year 2000 to USD 10921 in the year 2019. Moreover, the government health spending as a share of health spending reached 50.8% in the year 2019, up from 44.4% in the year 2000. On the other hand, according to the statistics by the U.S. Centers for Medicare & Medicaid Services, the national health spending in the United States is projected to grow at an average annual rate of 5.4% between 2019 and 2028. This is expected to reach USD 6.2 Trillion by the end of 2028. Additionally, as the national health expenditures are expected to grow by 1.1 percentage points faster than GDP per year on average between the years 2019 and 2028, the share of the economy on health is anticipated to grow from 17.7% in 2018 to 19.7% in 2028.
In addition to this, the rising need for advanced healthcare services, backed by the growing concern for the prevalence of chronic diseases amongst individuals are also projected to drive the growth of North America Biological Sample Bags market. For instance, according to the statistics by the United States Centers for Disease Control and Prevention (CDC), 6 in 10 adults were known to have a chronic disease in the United States, while in the nation, 4 in 10 adults were believed to have two or more such diseases. Further, the numerous opportunities generated by the surge in price of medical goods and services in the healthcare industry in the nation is also projected to contribute to the growth of the North America Biological Sample Bags market during the forecast period. Between 2019 and 2028, the average price growth for medical goods and services in the United States is anticipated to be 2.4% per year
The market research report on North America Biological Sample Bags market also includes a detailed analysis of the internal and external marketing factors, by the utilization of multi-dimensional analytical tools such as SWOT and PESTEL for the better understanding of its readers. In addition, the market research report on North America Biological Sample Bags market also covers market segmentation, CAGR (Compound Annual Growth Rate), BPS review, Y-o-Y growth (percent), Porter's five-force model, absolute $ potential, and the market's projected cost structure.
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