Healthcare Information System Market is Expected to Enhance USD 1,097 Billion Revenue By 2030: Grand View Research Inc.

 Healthcare Information System Market Growth & Trends

The global healthcare information system market size is expected to reach USD 1,097 billion by 2030 and is expected to expand at a CAGR of 13.2% over the forecast period, according to a new report by Grand View Research, Inc. Smartphones offer benefits such as large storage capacity, ease of use, and portability, making them an optimal solution for monitoring and diagnostic services.

Growing affordability and reduction in hardware costs are driving the demand for smartphones in the market, which in turn is expected to drive the growth of healthcare information systems in the market. Deep learning and machine learning techniques & AI functionality can enhance the personalization of healthcare. For instance, a doctor would be able to diagnose patients accurately by availing patients’ ancestry and DNA information from an AI-based healthcare information system.

On the basis of the patient data available, AI machines would enable doctors to diagnose life-threatening diseases much early and follow the best course of treatment. Healthcare technological advancements in 2020 witnessed some of the major trends such as cloud computing, predictive analysis, and big data. Venture funding for digital health startups is increasing globally.

Based on Rock Health data, in 2021, digital health startups bagged USD 29.1 billion investments across 729 deals. Startups offering mental and behavioral health services raised maximum money of around USD 5.1-3.3 billion. Venture capital investors are also investing in diabetes care and musculoskeletal care that can be managed virtually. With the onset of the COVID-19 pandemic, there will be a rise in the number of telemedicine users with 73% saying to continue using it at the same or higher rate in the future.

Advancements in healthcare IT are providing opportunities to cut down healthcare spending by improving care delivery and clinical outcomes. Best possible interventions enabled through timely data aggregation coupled with increase in patient involvement for the management of chronic care through patient engagement portals are among the factors contributing to cost reduction.

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Healthcare Information System Market Report Highlights

• Growing demand for reducing healthcare cost and effective clinical outcome is one of the key factors responsible for the adoption of information systems in hospitals of developed economies and in emerging economies, thereby, generating maximum revenue in this segment
• Web-based deployments segment held the largest market share in 2021, owing to its larger number of users as compared to the other two deployment systems
• The services segment held the largest revenue share in 2021 owing to lack of knowledge about IT applications among healthcare professionals
• High per capita healthcare costs and growing demand to reduce rising production costs by many product manufacturers have resulted in the rapid adoption of these systems in North America

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Healthcare Information System Market Segmentation

Grand View Research, Inc. has segmented the global healthcare information system market report on the basis of application, deployment, component, end-use, and region:

Application Outlook (Revenue, USD Million, 2016 - 2030)

• Hospital Information System
  • Electronic Health Record
  • Electronic Medical Record
  • Real-time Healthcare
  • Patient Engagement Solution
  • Population Health Management
• Pharmacy Information Systems
  • Medication Dispensing System
  • Packaging & Labeling system
  • Storage & Retrieval System
  • Automated Medication Compounding System
  • Tabletop Tablet Counters
• Laboratory Information Systems
• Revenue Cycle Management
• Medical Imaging Information System
  • Radiology Information Systems
  • Monitoring Analysis Software
  • Picture Archiving and Communication Systems

Deployment Outlook (Revenue, USD Million, 2016 - 2030)

• Web-based
• On-premises
• Cloud-based

Component Outlook (Revenue, USD Million, 2016 - 2030)

• Hardware
• Software and Systems
• Services

End-use Outlook (Revenue, USD Million, 2016 - 2030)

• Hospitals
• Diagnostic Centers
• Academic and Research Institutes

Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Switzerland
  • Belgium
• Asia Pacific
  • Japan
  • China
  • India
  • Singapore
  • Australia
  • South Korea
  • Malaysia
  • Thailand
  • Indonesia
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players in the Healthcare Information System Market

• athenahealth, Inc.
• Agfa Gevaert Group
• eClinicalWorks
• Philips Healthcare
• Hewlett Packard
• McKesson Corporation
• Allscripts Healthcare, LLC
• GE Healthcare
• Cerner Corporation
• Epic Systems Corporation
• Carestream Health
• Novarad Corporation
• e-MDs Incorporation
• Medidata Solutions Inc.
• Siemens Healthineers
• NextGen Healthcare
• Ada Health GmbH,
• SWORD Health,
• Siilo,
• Oracle,
• NXGN Management, LLC,
• GREENWAY HEALTH, LLC.,
• Infor

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Learning Management Systems Market Is Expected To Gain Significant Traction Over The Forecast Period: Grand View Research Inc.

 Learning Management Systems Market Growth & Trends

The global learning management systems market size is expected to reach USD 71.65 billion by 2030, registering a CAGR of 19.5% during the forecast period, according to a new study by Grand View Research, Inc. Key factors driving the market growth are big data, artificial intelligence (AI), e-learning, blended learning, and mobile learning; these new e-learning trends offer substantial opportunities.

Advanced technology, such as 3D pictures of organs and live interaction with experts, has increased clinical and medical e-Learning performance. The learning management system (LMS) is also used in retail for product marketing, sales development, product training, recruitment, and communication. Education systems have to improve engagement between students, teachers, and parents to make learning delightful.

For instance, in June 2021, PowerSchool, a provider of a cloud-based learning management system (LMS) for K-12 education, launched Power School Unified Classroom 2021. The K-12 LMS software, which helps in reporting tools, student assessment, behavior management, and more programs, improve teaching and learning.

The COVID-19 imposed mass lockdown in 2020. It impacted positively the market for LMS, owing to the increase in the demand for e-learning, from a number of nations. Several governments and educational institutions began to use learning management systems like google classroom, zoom meetings, and many more platforms, during this time, to bridge the gap in education and knowledge transfer.

Following the lockdown, these investments and support for online classes have continued to grow, as many nations have seen the massive benefits of e-learning platforms such as LMS solutions for the future of education. Companies have begun to improve the content and provide environmentally friendly infrastructures.

Virtual reality (VR) and augmented reality (AR) in education give a fabricated reality; AR gives a genuine picture with a better view. These technologies broaden the scope of learning surroundings from K-12 classrooms to medical colleges by reducing walls enhancing collaboration, physical space, and hands-on learning and providing personalized learning approaches to help students of all levels.

Technologies have now opened doors for new knowledge, and AR & VR technology gives some virtual live experience; the technology understands the concepts more clearly. To stay competitive, the major competitors in the LMS industry are improving EdTech technology. For instance, in October 2021, Blackboard Inc. merged with Anthology Inc., one of the players offering software solutions for higher education to support their entire learning lifecycle. The aim of this initiative is the combination, which will produce the most intact and up-to-date EdTech ecosystem at a global scale for education.

The cloud segment has acquired a significant market. The increased mobile users and distributed workforce encourage the demand for e-learning or online training in the academic and commercial sectors. Further, the benefits of cost and availability of technological advancements in e-learning platforms have encouraged users to upgrade from the traditional LMS to a further contemporary LMS.

Majorly, most industries are increasing the adoption of e-learning on their own devices, which is a growing inclination toward the cloud deployment model, and growing usage of machine learning (ML) and artificial intelligence (AI) in LMS. The LMS market will witness massive success, soon, due to several governments' increased spending on IoT technology.

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Learning Management Systems Market Report Highlights

• The cloud segment is estimated to witness substantial growth during the next eight years. This growth can be attributed to the increase in e-learning, which is effective for both teachers and students
• The solutions segment is expected to dominate in terms of revenue share due to the increased demand for e-learning solutions that cater to various needs in corporate and academic institutes
• LMS vendors are implementing various strategies to engage maximum audiences, resolve issues, and introduce novelty in everyday tasks to increase engagement. Gamification incorporates employee training and can promote healthy competition, which leads to higher concentration
• The Asia Pacific is anticipated to exhibit the highest growth rate. It is attributed to the developing education industry across the countries including China, Japan, and India. The region is likely to possess unprecedented opportunities for new market entrants

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Learning Management Systems Market Segmentation

Grand View Research has segmented the global learning management systems market based on the component, deployment, enterprise size, delivery mode, end-user, and region:

LMS Component Outlook (Revenue, USD Million, 2017 - 2030)

• Solution
• Services

LMS Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Cloud
• On-premises

LMS Enterprise Size Outlook (Revenue, USD Million, 2022 - 2030)

• Small & Medium Enterprise
• Large Enterprise

LMS Delivery Mode Outlook (Revenue, USD Million, 2017 - 2030)

• Distance Learning      
• Instructor-led Training
• Blended Learning

LMS End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Academic
  • K-12
  • Higher Education
• Corporate
  • Healthcare
  • Banking, Financial Services, And Insurance(BFSI)
  • IT And Telecommunication
  • Retail
  • Manufacturing
  • Government & Defense
  • Others

LMS Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East & Africa

List of Key Players in the Learning Management Systems (LMS) Market

• Cornerstone
• Blackboard Inc.
• D2L Corporation
• PowerSchool
• Instructure, Inc.
• Adobe
• Oracle
• SAP
• Moodle
• McGraw Hill
• Xerox Corporation

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Acute Wound Care Market to Penetrate Untapped Regions During 2022 to 2030: Grand View Research Inc.

 Acute Wound Care Market Growth & Trends

The global acute wound care market size is expected to reach USD 11.96 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.24% from 2022 to 2030. A rise in burn incidence cases, an increase in the global geriatric population, and rising cases of traumatic accidents are expected to be the key driving factors for the market.

The global rise in various burn cases is contributing to the growth of the market. For instance, according to ImpactLaw, out of total chemical burn cases, 22,000 cases are due to exposure to acid. Similarly, 55,500 burn cases can be accredited to exposure to alkaline solutions. Moreover, as per the NCBI, each day, an estimated 30,000 people suffer from burn injuries, whereas, it is predicted that annually, approximately 11 million people suffer due to burn incidents. Acute wound care products such as advanced wound dressing are used to treat burn marks. Thus, rising burn incidences are expected to drive the market.

Furthermore, the number of traumatic incidences such as abrasion, lacerations, road accidents, and assaults is growing. For instance, according to stats by the NCBI, abrasions are the most common form of injury in children accounting for 70.7% of all injuries. Similarly, as per the Bureau of Labor Statistics, U.S. Department of Labor, 2.7 million non-fatal injuries were reported by private industry labor in 2020. Moreover, according to Brady United, every year, around 117,345 people are shot down leading to acute wounds. As there has been a rise in acute wounds due to the above-mentioned factors, the market is anticipated to grow over the forecast period.

The COVID-19 pandemic resulted in a minor decrease in the market size. However, with the availability of vaccines and ease of lockdown, the market is expected to grow during the post-pandemic period. This can be attributed to various strategic initiatives by major market players, along with improvements in the home healthcare system. For instance, in January 2022, ConvaTec Group PLC entered into a definitive agreement with Triad Life Sciences Inc. According to this agreement, ConvaTec will acquire Triad Life Sciences Inc. in order to strengthen its advanced wound care business.

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Acute Wound Care Market Report Highlights

• On the basis of product, advanced wound dressing captured the largest revenue share of over 30.0% in 2021. This can be attributed to a rise in the number of accident cases globally
• Based on application, the surgical and traumatic wounds segment dominated the market with a share of over 75.0% in 2021 and is projected to witness the fastest growth over the forecast period
• On the basis of end-use, the hospitals segment dominated the market in 2021. Home healthcare is estimated to register the fastest growth rate over the forecast period
• North America dominated the market in 2021. Asia Pacific is anticipated to register the fastest growth rate over the forecast period owing to a rise in traumatic accidents and the growing geriatric population in this region

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Acute Wound Care Market Segmentation

Grand View Research has segmented the global acute wound care market on the basis of product, application, end-use, and region:

Acute Wound Care Product Outlook (Revenue, USD Million, 2018 - 2030)

• Advanced Wound Dressing
  • Foam Dressing
  • Hydrocolloid Dressing
  • Film Dressing
  • Alginate Dressing
  • Hydrogel Dressing
  • Collagen Dressing
  • Other Advanced Dressing
• Surgical Wound Care
  • Sutures & Staples
  • Tissue Adhesive & Sealants
  • Anti-infective Dressing
• Traditional Wound Care
  • Medical Tapes
  • Cleansing Agents
  • Others
• Wound Therapy Devices
  • Negative Pressure Wound Therapy
  • Oxygen and Hyperbaric Oxygen Equipment
  • Electric Stimulation Devices
  • Pressure Relief Devices

Acute Wound Care Application Outlook (Revenue, USD Million, 2018 - 2030)

• Acute Wounds
  • Surgical & Traumatic Wounds
  • Burns

Acute Wound Care End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Specialty Clinics
• Home Healthcare
• Others

Acute Wound Care Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Acute Wound Care Market

• 3M
• Coloplast Corp.
• Medline Industries
• Smith & Nephew
• Medtronic
• ConvaTec Group PLC
• Derma Sciences (Integra LifeSciences)
• Ethicon (Johnson & Johnson)
• Baxter International
• Molnlycke Health Care AB

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Green Technology And Sustainability Market Top Players ,Analysis And Forecast Till 2030: Grand View Research Inc.

 Green Technology And Sustainability Market Growth & Trends

The global green technology and sustainability market size is expected to reach USD 79.65 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 22.4% from 2022 to 2030. The expanding consumer and industrial interest in using clean energy resources to save the environment and the increased use of RFID sensors across industries drive the market adoption of green technology and sustainability solutions and services. Furthermore, the market's opportunity is to increase favorable private and government activities to combat climate change and air pollution.

The market is expanding as people become more environmentally conscious and concerned about global warming. Furthermore, the deployment of RFID sensors that reduce carbon emissions and the rise in interest in clean energy resources are expected to propel growth in the forthcoming years. Green technology and sustainability solutions are expected to have a high product and solution pricing, limiting market growth to some extent. Furthermore, the rise of beneficial government and private actions to address climate change and air pollution is advantageous for the industry.

The green technology and sustainability industry has increased in recent years; however, due to the COVID-19 pandemic, the market witnessed a slight decline in 2020.It was due to governments in most countries imposing a state of emergency and shutting down numerous solar and wind power projects around the world. As a result of strict social distancing measures, even the installation of modest solar panels in homes and other industrial projects was prohibited. Various green technology solution suppliers around the world, on the other hand, are launching new strategies and business plans to stay afloat and increase their market worth.

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Green Technology And Sustainability Market Report Highlights

• North America is predicted to grow at a CAGR of over 20.8% between 2022 and 2030. U.S. is expected to grow rapidly at a CAGR of around 20.1% by 2030 due to the region's large number of sustainability vendors and green technology
• Asia Pacific is expected to be the second-largest regional market during the forecast period. Government and corporate investments in addressing climate change by implementing technology solutions for diverse applications are anticipated to drive the market growth
• Over the forecasted period, the IoT segment is projected to witness prominent growth over the forecast period. The segment currently generates the majority of the market revenue owing to the technology’s property of gaining visibility and providing control at each step energy flow
• According to the Global Investor Intentions Survey by CBRE Group, Inc. in 2021, 60% of respondents stated that investors had incorporated ESG criteria as a part of their investment strategies. Compared to previous years, the EMEA, Americas, and Asia-Pacific regions are focused more on these issues

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Green Technology And Sustainability Market Segmentation

Grand View Research has segmented the global green technology & sustainability market based on component, technology, application, and region:

Green Technology And Sustainability Component Outlook (Revenue, USD Million, 2017 - 2030)

• Solution
• Services
  • Consulting
  • Integration and Technology
  • Support and Maintenance

Green Technology And Sustainability Technology Outlook (Revenue, USD Million, 2017 - 2030)

• IoT
• AI and Analytics
• Digital Twin
• Cloud Computing
• Blockchain
• Others

Green Technology And Sustainability Application Outlook (Revenue, USD Million, 2017 - 2030)

• Green Building
• Carbon Footprint Management
• Air and Water Pollution Monitoring
• Weather Monitoring and Forecasting
• Fire Detection
• Crop Monitoring
• Soil Condition/ Moisture Monitoring
• Forest Monitoring
• Sustainable Mining and Exploration
• Others

Green Technology And Sustainability Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East & Africa

List of Key Players in the Green Technology And Sustainability Market

• General Electric
• Wolters Kluwer N.V.
• Salesforce, Inc.
• Microsoft
• Schneider Electric
• Engie Impact
• Cority (Enviance)
• Sensus, a Xylem brand
• LO3 Energy
• CropX Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Identity Verification Market to Reap Excessive Revenues By 2030

 Identity Verification Market Growth & Trends

The global identity verification market size is expected to reach USD 33.92 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 16.7% from 2022 to 2030. Identity verification is a security solution that allows businesses to safeguard, protect, and confirm the accuracy of user and customer information. Technologies involved in the identity verification process include Artificial Intelligence (AI), Machine Learning (ML), and face-based biometrics. These services and solutions are used by industries such as healthcare & life science, e-commerce and retail, government & defense, BFSI, energy and utilities, and others to ensure that the information provided by online consumers and users is linked with the identity of a real person.

The major factors propelling the market growth are cyber-attacking and identity theft. Businesses are becoming more dependent on digital data and computer networks to run their daily business process and operations. With the rise in cybercrime, cybercriminals may now breach highly advanced and sophisticated bank accounts and use stolen credentials to open online merchant accounts, interest payment accounts, and fake mobile phone accounts. For instance, in October 2020, The Thales Group launched a new identity verification kit, including a secure biometric solution for customer onboarding. It reduces the danger of ID fraud by allowing service providers to authenticate consumers' identities digitally.

With the rise of internet services and smartphone adoption, digital identity verification is becoming increasingly important for both businesses and governments. Regulatory authorities are progressively enforcing KYC and AML compliance among enterprises to fight financial crime. For instance, In October 2021, Financial Action Task Force (FATA) expanded the scope of reporting entities and encouraged member countries to constrain virtual asset dealers, Art dealers, and legal professionals to conduct Anti-money Laundering (AML) screening on their customers.

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Identity Verification Market Report Highlights

• The demand for identity verification technologies is expected to grow owing to increasing dependency on digital platforms and the rising number of cyber-attacking and identity theft
• The market size for the service component segment is expected to grow at the highest CAGR of 18.2% over a forecasted period
• The cloud deployment segment is expected to grow at a significant CAGR of 17.7% over a forecasted period
• The Asia Pacific and Europe regions are expected to witness significant growth with a CAGR of more than 18% during the forecast period

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Identity Verification Market Segmentation

Grand View Research has segmented the global identity verification market based on type, component, deployment, organization size, vertical, and region:

Identity Verification Type Outlook (Revenue, USD Million, 2017 - 2030)

• Biometrics
• Non-biometrics

Identity Verification Component Outlook (Revenue, USD Million, 2017 - 2030)

• Solution
• Services

Identity Verification Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• On-premises
• Cloud

Identity Verification Organization Size Outlook (Revenue, USD Million, 2017 - 2030)

• SMEs
• Large Enterprises

Identity Verification Verticals Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• Government and Defense
• Healthcare & Life Sciences
• Retail and E-comme  rce
• IT & ITeS
• Energy and Utilities
• Others (Education, Travel, and Gaming)

Identity Verification Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East and Africa

List of Key Players in the Identity Verification Market

• Acuant, Inc.
• Equifax, Inc.,
• Experian Plc
• GB Group PLC
• IDEMIA
• Intellicheck Inc.
• Mitek Systems, Inc.,
• Nuance Communications Inc.
• Thales Group S.A.,
• TransUnion LLC.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Mexico Medical Cannabis Market Top Players ,Analysis And Forecast Till 2030: Grand View Research Inc.

 Mexico Medical Cannabis Market Growth & Trends

The Mexico medical cannabis market size is expected to reach USD 117.7 million by 2030. It is projected to grow at a CAGR of 49.0% between 2022 and 2030, as per a new report by Grand View Research, Inc.Favorable government policies are projected to boost the acceptance of cannabis-derived products in the next years. This is the main factor driving the growth of the market.

In addition, the industry is likely to benefit from an increase in user acceptance of Cannabidiol (CBD) due to its numerous health benefits. CBD is being utilized to treat a growing number of chronic ailments. In light of recent regulations being set around the use, production, as well as sale of cannabis specifically for use in medicinal purposes, will aid in the monitoring of products entering the supply chain while also allowing the government to benefit from taxes collected through these products.

Due to the high population density and a big patient pool, medical cannabis is likely to become one of the most profitable industries in Mexico in the coming years. As per WHO, in 2020, 195,499 new cases of cancer were detected in Mexico. Various research studies have demonstrated CBD’s potential benefits in nausea suppressing quality of cancer, resulting in an increase in its use in cancer patients. Chronic pain due to a variety of diseases and conditions as well as old age has been on the rise in the past few years, medical cannabis has been studied extensively in reducing the perception of pain.

Extracts from the plant in form of oil, like CBD oil has been on the market around the world, for quite some time and is increasingly being seen as an alternative treatment for chronic pain. The Global Pain Index study, conducted by GSK in 2020, studied 1,000 individuals each, from 19 countries, the data collected revealed, that pain prevalence among Mexican individuals is nearly 98%. Due to legalization, it has become easier for patients as well as medical practitioners to prescribe it for chronic pain and hence has resulted in the growth of the medical cannabis market in Mexico.

An increase in the geriatric population is also linked to a likely increase in the consumption of medical-grade cannabis. The older generation is more susceptible to chronic conditions including arthritis, chronic pain, Alzheimer’s disease, and Parkinson’s disease. thus can be identified as a potential patient population, likely to use medical-grade cannabis. As per WHO, the geriatric population in Mexico is likely to increase by over 270% by 2050.

In a study published in The International Study for the Study of Pain, the data was collected between 2001-2018, a Mexican Health and Ageing Study, representing the Mexican population over 50 years of age or older. The two pain categories, low-stable and moderate-increasing were found to be 81.88% and 18.12%, respectively.

A study conducted by GSK in 2020, studying populations across 19 countries found that 67% of the study population in Mexico reported that pain severely impacts their quality of life. The segments such as Epilepsy and Tourette’s syndrome are anticipated to grow at a substantial rate owing to the increasing number of studies that showed positive results of its use in reducing the symptoms associated with these conditions. These factors are bolstering the growth of the medical cannabis market in Mexico.

In Mexico, licenses for growing, harvesting, and manufacturing are only available for therapeutic and research purposes. Xebra Brands is currently one of the pioneering companies, authorized by the government to import, cultivate and process cannabis into CBD and CBG products. The company has exclusive rights to sell its products both domestically and internationally.

During COVID, the demand for cannabis increased, and due to the local supply in abundance, the market witnessed significant growth. The legalization of medical cannabis has rendered it more easily available and has thus propelled the growth of the market. Due to government initiatives, cultivators of cannabis are also increasing in the region and can significantly help the entire economy to grow, medical tourism, and increased revenues through taxes are all major contributors that are poised to propel the growth of Mexico’s medical cannabis market.

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Mexico Medical Cannabis Market Report Highlights

• The marketis anticipated to witness steady growth over the forecast period as medical cannabis is being utilized to treat a growing number of chronic ailments
• Flowers, in the product category emerged as the largest segment in 2021 due to their price and easy availability
• Chronic pain had the highest revenue share based on application, owing to the fast use of CBD as an alternative to opioids and synthetic medications for the treatment of chronic pain

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Mexico Medical Cannabis Market Segmentation

Grand View Research, Inc. has segmented the Mexico medical cannabis productmarket based on product and application:

Mexico Medical Cannabis Product Outlook (Revenue, USD Million, 2017 - 2030)

• Flowers
• Oils &Tinctures

Mexico Medical Cannabis Application Outlook (Revenue, USD Million, 2017 - 2030)

• Cancer
• Chronic Pain
• Depression & Anxiety
• Arthritis
• Diabetes
• Glaucoma
• Migraines
• Epilepsy
• Multiple Sclerosis
• AIDS
• Amyotrophic Lateral Sclerosis
• Alzheimer’s Disease
• Post-Traumatic Stress Disorder (PTSD)
• Parkinson’s Disease
• Tourette’s Syndrome
• Others

List of Key Players in the Mexico Medical Cannabis Market

• Aurora Cannabis
• CANOPY GROWTH CORPORATION
• GW Pharmaceuticals, plc
• Jazz Pharmaceuticals, Inc
• CBD Life
• HempMeds
• Isodiol International Inc.
• com
• Elixinol
• ENDOCA

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

U.S. Medical Billing Outsourcing Market Size Projected to Rise Lucratively during 2022 to 2030: Grand View Research Inc.

 U.S. Medical Billing Outsourcing Market Growth & Trends

The U.S. medical billing outsourcing market size is expected to reach USD 12.3 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.34% from 2022 to 2030. Increasing complexity in health reimbursement and high chances of claim denials are expected to drive the market. The growing burden of the patient pool, patient data, and billing volumes during and after the pandemic forced the hospital industry to outsource medical billing services. This is expected to propel the growth of the market during the forecast period.

Additionally, challenges faced by the in-house billing service during the pandemic era increased the need for an alternative i.e. outsourcing the billing services. The challenge mounts when the billing process mandates adherence to the International Classification of Diseases-11th (ICD-11) code along with dealing with rising healthcare costs and declining reimbursements. In order to curb or alleviate these challenges, several healthcare providers, such as acute care hospitals and clinics/physician offices, prefer outsourcing their billing processes. According to the Medical Group Management Association, around 73% of physicians found a reduction in the ARA days due to the addition of outsourcing and posed the higher collections.

Acceptance of Revenue Cycle Management (RCM) in various healthcare facilities varies with application. Scheduling, coding, billing, patient registration, and claims processing are adopted more than other RCM applications in the U.S. Advantages associated with outsourcing of medical billing services include improvement in the billing process by decreasing errors, swift turnaround time, and smooth administrations for hospitals and other medical institutes.

Moreover, the pandemic drastically impacted the U.S. market for medical billing outsourcing. The reduction in hospital revenue and patient volumes slowed down the market growth. New billing and telehealth codes were introduced during the pandemic. The growing patient burden and increased workload on healthcare staff posed a challenge to adapt new codes as well as implement them into the setting. The medical billing providers have spent significant amounts on the billing resources and technology, which can be utilized by the healthcare providers after outsourcing the billing process.

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U.S. Medical Billing Outsourcing Market Report Highlights

• Based on component, the outsourced segment is expected to witness the highest growth during the forecast period owing to the growing focus on minimizing the cost of healthcare delivery and improving patient and physician relationship
• By service, the front-end services segment dominated the market in 2021 as these services increase downstream cash flow and decrease rework and cost to collect
• The middle-end services segment is expected to register the fastest growth rate during the forecast period. This is attributed to the growing awareness about billing outsourcing among healthcare practitioners and the rising adoption of the middle-end services among them
• By end-use, the hospitals segment accounted for the largest revenue share in 2021 owing to the high claim volumes and rising patient burden. Additionally, errorless billing procedures and minimization of loss due to denial of payments are the benefits associated with the medical billing outsourcing, which leads to the rising adoption in multispecialty hospitals

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U.S. Medical Billing Outsourcing Market Segmentation

Grand View Research has segmented the U.S. medical billing outsourcing market based on component, service, and end-use:

U.S. Medical Billing Outsourcing Component Outlook (Revenue, USD Million, 2017 - 2030)

• In-house
• Outsourced

U.S. Medical Billing Outsourcing Service Outlook (Revenue, USD Million, 2017 - 2030)

• Front-end services
• Middle-end services
• Back-end services

U.S. Medical Billing Outsourcing End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals
• Physician Offices
• Others

List of Key Players in U.S. Medical Billing Outsourcing Market

• R1RCM Inc.
• Allscripts Healthcare, LLC
• Cerner Corporation
• eClinicalWorks
• Kareo, Inc.
• McKesson Corporation
• Quest Diagnostics Incorporated
• Promantra Inc.
• AdvancedMD, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

North America Legal Cannabis Market Precise Analysis on Business Overview, Product Scope And Ongoing Development 2030

 North America Legal Cannabis Market Growth & Trends

The North America legal cannabis market size is expected to hit USD 47.5 billion by 2030, registering a CAGR of 15.3% from 2022 to 2030, as per a new report by Grand View Research, Inc. The market is likely to see a marginal increase in demand due to the changing government policies for product legalization and use. Off-late, the population across North America has been made aware of the benefits entailing the use of cannabis for multiple indications. Many start-ups and the federal & private organizations are taking up research and production activities of cannabis-infused products and derivatives, which is further going to propel the market growth.

The use of cannabis has been more prevalent in the form of dried flowers and buds, up until its legalization, it was sold as an illicit drug across North America due to its psychoactive properties and addictive nature. The product usage in medicine is being propelled by the fact that in most products, THC, the compound present in cannabis, responsible for its psychoactive properties, is often omitted or is present in trace amounts. It is still a federally illegal drug but has been legalized in small amounts, majorly for use as medicine for the treatment of chronic pain, neurological conditions, etc. This has been a key factor in the growth of the market as well as a reason behind the vast rate of legitimization of the drug across the region.

Cultivation and production of cannabis and related products have also had a huge economic impact on the region’s economy. In 2021, the U.S. collected USD 3.7 billion in tax revenues for legal cannabis, which was almost twice what it was in 2019. Its legalization is bound to create more jobs, and income for cultivators, manufacturers, etc., and developing interest in the industry has also led to an increase in the number of organizations wanting to invest, thereby propelling the market growth. The marijuana source type segment held the largest market share in 2021. Marijuana consisting of flowers, oils, and tinctures has been used extensively in the region for decades.

It has also been decriminalized and is legal in the majority of the states across the U.S. and Canada, which has contributed to the high revenue share of the segment. It has also been legalized for recreational use in a number of states which has contributed significantly to increasing sales, resulting in the fast growth of the segment as well. Cannabidiol (CBD) as a derivative is being extensively used for medications in various indications including, epileptic seizures, chronic pain, and nausea induced by chemotherapy along with many others making it the highest share-holding category in the derivatives segment. Cannabidiol became legal in 2018, and since then it has been used in making medicines, ointments, etc. for various indications.

The other derivatives segment is estimated to register the fastest CAGR from 2022 to 2030. The others segment includes minor cannabinoids, terpenes, and flavonoids, which are used for their benefits for multiple indications. The medical end-use segment held the largest share of the overall revenue in 2021. Cannabis has been legalized in more than 30 states for use in medicinal preparations. The recreational use segment is estimated to record the fastest CAGR from 2022 to 2030. In 2020 and 2021, since its legalization for recreational purposes, it is now being sold over the counter at dedicated stores, thus has been responsible for the overall market growth.

The production and processing of cannabis-derived goods in the U.S., the presence of a huge pool of health-conscious consumers, and the presence of significant manufacturers in the region are propelling the industry growth. In addition, the COVID-19 pandemic had an adverse impact on the market. Several dispensaries, such as Bud and Bloom, had a 30.0% surge in weekly sales, according to the Orange County Register, on March 17, 2020. In February 2022, Groff North America, a federally, legal producer of cannabis, gained multiple schedule I registrations from the DEA, including bulk manufacturing, non-bulk manufacturing, exporter, researcher as well as the analytical lab. This is a major step for the regional market.

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North America Legal Cannabis Market Report Highlights

• The market will grow at a significant rate due to increasing product legalization and rising awareness among consumers about the health benefits of the product
• The marijuana source type segment led the market in 2021 due to the increased legalization and its usage for medical purposes
• The CBD derivatives segment dominated the market in 2021 due to the increased use of CBD for various medical applications and awareness about CBD’s effectiveness in the treatment of various medical diseases
• The recreational end-use segment held the largest revenue share in 2021 due to increased use of cannabis for recreational purposes and high awareness regarding cannabis usage

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North America Legal Cannabis Market Segmentation

Grand View Research has segmented the North America legal cannabis market based on source, derivation, end-use, and country:

North America Legal Cannabis Source Outlook (Revenue, USD Million, 2017 - 2030)

• Marijuana
  • Flowers
  • Oil & Tinctures
• Hemp
  • Hemp CBD
  • Supplements
  • Industrial Hemp

North America Legal Cannabis Derivatives Outlook (Revenue, USD Million, 2017 - 2030)

• CBD
• THC
• Others

North America Legal Cannabis End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Medical Use
  • Chronic Pain
  • Anxiety & Depression
  • Cancer
  • Arthritis
  • Diabetes
  • Glaucoma
  • Migraines
  • Epilepsy
  • Multiple Sclerosis
  • AIDS
  • Amyotrophic Lateral Sclerosis
  • Alzheimer’s
  • Post-traumatic Stress Disorder (PTSD)
  • Parkinson’s
  • Tourette’s
  • Others
• Recreational Use
• Industrial Use

North America Legal Cannabis Country Outlook (Revenue, USD Million, 2017 - 2030)

• US.
• Canada

List of Key Players of North America Legal Cannabis Market

• Insys Therapeutics, Inc.
• SUNDIAL
• Cara Therapeutics
• Tilray
• Aurora Cannabis
• The Cronos Group
• Jazz Pharmaceuticals, Inc

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Asset Performance Management Market Predicted to Witness Steady Growth During the Forecast Period

 Asset Performance Management Market Growth & Trends

The global asset performance management market size is expected to reach USD 47.18 billion by 2030, registering a CAGR of 11.8% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The market has evolved in response to technological advancements and the changing needs of incumbents in many end-use industries and sectors, particularly small and medium businesses. The market for asset performance management is predicted to increase due to the increasing usage of asset performance management (APM) solutions to achieve operational excellence. Companies are becoming more capable of maximizing the use and upkeep of their operational assets, such as plants, equipment, and infrastructure. Heavy machinery, heavy equipment, turbine engines, power transformers, and other assets are among the assets that firms adopting APM systems regularly monitor.

The market witnessed significant growth during the COVID-19 pandemic. Growth in the adoption of the work-from-home model by organizations created the need for secure, scalable, reliable, and cost-effective off-premises and virtual technology services. Organizations from all sectors invested considerably in cloud computing solutions to facilitate their operations and engage clients and employees effortlessly. Thus, asset performance management provided several growth opportunities to marketers during the pandemic.

The asset performance management system includes various solutions such as asset strategy and risk management, predictive asset management, reliability-centered maintenance, and condition-based maintenance, among others. These have a high demand from end-use industries such as energy & utilities, mining & metal, oil & gas, and manufacturing. The manufacturing industry is expected to emerge as one of the prominent markets in terms of revenue over the forecast period. The APM systems, coupled with IIoT, and increasing adoption of cloud solutions are expected to be the crucial factors for the steady growth of the market. Moreover, cloud-based APM systems are enabling companies to manage their assets cost-effectively.

The energy & utilities industry segment holds the largest share owing to the high number of customers who are actively investing in APM systems to manage their assets. For instance, Tata Power, one of the largest power companies in India, is leveraging AVEVA Group plc’s PRiSM Predictive Asset Analytics for equipment problems and early warning notification. The APM system helped Tata Power to achieve improved reliability and performance of their critical assets. Additionally, the system contributed to control the maintenance costs through its predictive analysis

Furthermore, the market is highly competitive and fragmented, wherein few companies hold the maximum market share. Consistent dominance in the market by legacy companies can be attributed to investments in research and development of advanced cloud-based services, which has been one of the key factors driving their revenues. However, growth in the introduction of advanced cloud solutions and related offerings by start-ups is also creating significant traction in the global market.

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Asset Performance Management Market Report Highlights

• The market is gaining traction owing to the rapid industrial shift towards digitization of monitoring and maintenance activities. The companies are actively investing in digital solutions to manage their assets.
• The use of advanced processes and tools such as regression analysis, neural network analysis, Monte Carlo simulation, and so on in the APM systems is driving the growth of the predictive asset management segment.
• The public cloud segment is expected to register significant growth over the forecast period as it helps businesses in improving cost structures and setting up a control center to arrange, monitor, and coordinate various components of their businesses.
• The manufacturing industry segment is held a significant share in the market owing to the presence of many small and large manufacturing plants across the globe.
• Asia Pacific is anticipated to register the highest growth rate over the forecast period owing to the increasing popularity of social media, growing investments by tech giants in establishing IT infrastructures in this region, and the rising preference for e-commerce and m-commerce, particularly in emerging economies such as India, Indonesia, and Thailand.

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Asset Performance Management Market Segmentation

Grand View Research has segmented the global asset performance management market based on category, deployment, vertical, and region:

Asset Performance Management Category Outlook (Revenue, USD Million, 2017 - 2030)

• Predictive Asset Management
• Asset Reliability Management
• Asset Strategy Management
• Others

Asset Performance Management Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• On-premise
• Hosted
  • Public Cloud
  • Private Cloud

Asset Performance Management Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• Energy & Utilities
• Oil & Gas
• Manufacturing
• Metal & Mining
• Transportation
• Government & Public Sector
• Chemicals & Pharmaceutical
• Others

Asset Performance Management Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Mexico
• MEA

List of Key Players in Asset Performance Management Market

• AVEVA Group plc
• ABB Ltd
• Aspen Technology, Ltd
• Bentley Systems, Incorporated
• SAP SE
• Siemens AG
• SAS Institute, Inc.
• International Business Machines Corporation
• GE Digital
• DNV GLAS
• Rockwell Automation

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.