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Early Bird Registration Closes: 21st July, 2022, 1st Phase Abstract Submission Closes: 27th February, 2023

MARKET ANALYSIS

GLOBAL HEALTHCARE MARKET
The global medicine market is expected to grow at 3–6% CAGR through 2025, reaching about $1.6 trillion in total market size in 2025. This excludes spending on COVID-19 vaccines, where total cumulative spending through 2025 is projected to be $157 billion. In this report, we quantify the impact of dynamics influencing growth in the use of medicines and examine current levels of spending and use in 2020, globally, and for specific therapy areas and countries.
The global healthcare education market is projected to reach USD 125.2 billion by 2025 from USD 83.6 billion in 2020, at a CAGR of 8.4% during the forecast period. Growth in this market is primarily driven by the technological advancements in the healthcare industry, rapid growth in the online education and e-learning sector, and the presence of stringent regulatory mandates related to CME programs. However, lack of face to face interaction and unreliable infrastructure cause barrier to the market growth.
The global healthcare IT market size was valued at USD 135.6 billion in 2021 and is projected to exhibit a CAGR of 29.3% in the forecast period. The growing trend of digitalization in healthcare, rising demand for preventive care solutions, the emergence of various entrepreneurship ventures, and growing partnerships & funding are propelling the market growth. Furthermore, the evolution and advancements in network connectivity and development of network infrastructure coupled with increased healthcare IT spending are driving the market growth. Key participants are focusing on innovative product development strategies and are making constant technological advancements with support from improving IT infrastructure. Market players are integrating big data, Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) algorithms in their existing solutions to enhance health & medical processes, which is fueling the market growth.
Growing healthcare expenditure coupled with rising consumer demand for efficient, effective, and advanced treatment solutions is supporting the development and growth of the market. Increasing consumer awareness towards innovative and upgraded solutions is boosting market growth over the forthcoming years. As per a Healthcare IT News article published in 2020, healthcare IT services have witnessed an upsurge in adoption over the past years, whilst remote monitoring services recorded an increment in adoption from 13% in 2016 to 22% in 2019.
Growing smartphone penetration and improving internet coverage are directly contributing to the adoption of healthcare IT solutions. According to Data Report January 2022 estimates, 5.31 billion individuals globally are unique mobile phone years and approximately 4.95 billion individuals are internet users. In addition, as per The Mobile Economy 2020 estimates, the unique mobile phone users are expected to reach 5.8 billion by 2025. In addition, the number of internet users across the globe increased by 192 million in 2021 in comparison to 2020, and globally, the number of internet users is growing at 4% annually. Furthermore, technological advancements in the field of smartphones and internet connectivity to improve clinical outcomes, patient experience, and patient engagement is expected to accelerate market growth.
The Healthcare Supply Chain Management market revenue was 1857 Million USD in 2019, and will reach 2880 Million USD in 2025, with a CAGR of 7.58% during 2020-2025. Healthcare supply chain management is the regulation of the flow of medical goods and services from manufacturer to patient.
The global wellness economy was valued at $4.9 trillion in 2019 and then fell to $4.4 trillion in 2020, due to the widespread impacts of the COVID-19 pandemic.As we emerge from the pandemic, GWI predicts that the wellness economy will return to its robust growth. We project 9.9% average annual growth, with the wellness economy reaching nearly $7.0 trillion in 2025.The wellness economy represented 5.1% of global economic output in 2020.

INDIA HEALTHCARE MARKET
India’s healthcare industry has been growing at a Compound Annual Growth Rate of around 22% since 2016. At this rate, it is expected to reach USD 372 Billion in 2022. Healthcare has become one of the largest sectors of the Indian economy, in terms of both revenue and employment. In 2015, the healthcare sector became the fifth largest employer, employing 4.7 Million people directly. As per estimates by the National Skill Development Corporation (NSDC) healthcare can generate 2.7 Million additional jobs in India between 2017-22 -- over 500,000 new jobs per year.
India has emerged as one of the fastest-growing emerging economies over the last two decades, receiving large FDI inflows, which have grown from USD 2.5 Billion in 2000-01 to USD 50 Billion in 2019-20. The healthcare sector, in particular, has received heightened interest from investors over the last few years, with the transaction value increasing from USD 94 Million (2011) to USD 1,275 Million (2016) – a jump of over 13.5 times.
All of these factors together create several opportunities for investment in India’s healthcare industry.In the hospital segment, the expansion of private players to Tier 2 and Tier 3 locations, beyond metropolitan cities, offers an attractive investment opportunity. According to Invest India’s Investment Grid, there are nearly 600 investment opportunities worth USD 32 Billion (INR 2.3 Lakh Crore) in the country’s hospital/medical infrastructure sub-sector.
One such trend is rising income which could result in around 73 Million households moving into the middle-class category in India over the next 10 years, thereby enhancing their purchasing power, including with respect to healthcare. It is expected that 8% Indians will earn more than USD 12,000 per annum by 2026. Another important trend is the increase in life expectancy and ageing. Life expectancy in India is likely to exceed 70 years by 2022 and the country’s population is projected to increase to 1.45 Billion by 2028, making it the most populous nation globally. While on the one hand, India has the largest population of youth compared to any country in the world, on the other, the number of senior citizens (60+ years) is also growing. In fact, it is estimated that the share of senior citizens in India’s population will double from 8.6% in 2011 to 16% by 2041.9,10 In 2050, India is expected to have 300 Million senior citizens. India currently has around 60 Million diabetics, a number that is expected to swell to 90 Million by 2025.14 It is estimated that every fourth individual in India aged above 18 years has hypertension.2,9 Nearly 5.8 Million Indians die from NCDs (heart and lung diseases, stroke, cancer and diabetes) every year.10,14 The rising NCD burden is estimated to cost India USD 4.58 Trillion before 2030


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7th World Cancer Congress - 2022 | Bangalore