Per-Encounter Medical Market Top Players- Abbott, Cardinal Health, Johnson & Johnson, Medtronic, 3M.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Per-Encounter Medical Market - (By Product Type (Consumables, Devices, Software, Services, Others), By Application (Cardiology, Orthopedics, Obstetrics/Gynecology, Ophthalmology, Gastroenterology, Others), By End-User (Hospitals, Clinics, Diagnostic Centers, Others), By Distribution Channel (Direct Tender, Retail Sales, Online Sales)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Per-Encounter Medical Market is valued at USD 121.82 Bn in 2023, and it is expected to reach USD 377.93 Bn by the year 2031 , with a CAGR of 15.38% during the forecast period of 2024-2031.

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The per-encounter healthcare model differs from traditional fee-for-service models in that it charges a fixed fee for each patient visit, regardless of the duration or complexity of the encounter. This approach contrasts with both capitation and fee-for-service models. Under the fee-for-service model, patients are required to pay for each service provided by healthcare professionals and facilities. As chronic health conditions such as heart disease, cancer, diabetes, and musculoskeletal disorders become more prevalent, the demand for surgical treatments, diagnostic tests, and routine checkups continues to rise.

Concurrently, single-use per-encounter medical devices, such as intravenous catheters, drainage bags, syringes, and needles, are increasingly in demand. The industry for per-encounter devices is undergoing continuous innovation, driven by technological advancements in medical devices. The use of modern materials such as metal alloys, specialized polymers, and silicone has facilitated the development of more efficient and effective single-use products. Furthermore, innovations in 3D printing and similar technologies enable the production of customized devices. However, the practice of recycling single-use plastic items remains problematic due to health and sanitation concerns, and is often prohibited by regulations. Despite these legal and regulatory challenges, cost concerns drive some individuals to attempt to reuse such devices, potentially undermining market growth and safety standards.

List of Prominent Players in the Per-Encounter Medical Market:
• Abbott
• Cardinal Health
• Johnson & Johnson
• Medtronic
• 3M
• Steris
• Catalent Inc.,
• Smiths Medical Inc.,
• Schott,
• Nipro Corporation,
• Terumo Corporation,
• Gerresheimer AG,
• Becton, Dickinson and Company,
• B. Braun Melsungen AG,
• AngioDynamics Inc.,
• Teleflex Incorporated,
• Argon Medical Devices, Inc.,
• ICU Medical, Inc.,
• Medical Components, Inc.,
• Vygon (UK) Ltd

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Market Dynamics:
Drivers:
The growth of the per-encounter medical market is primarily driven by the increasing global population of older adults. As the elderly population is more susceptible to both acute and chronic health conditions, there is a corresponding rise in the demand for outpatient and inpatient medical care. This surge in the number of individuals requiring diagnostic and therapeutic services is contributing to a higher demand for single-use medical devices such as prefilled syringes, test kits, and surgical blades. The aging population is thus expected to be a significant driver of market growth.

Challenges:
Key challenges facing the per-encounter medical market include stringent regulations, a shortage of skilled professionals, and the lack of standardized protocols, particularly in emerging economies. These factors are expected to impede market growth. Regulatory authorities impose stringent licensing and compliance standards for medical devices, which can delay product development and commercialization. Issues such as post-market surveillance, quality management systems, and lengthy approval processes for clinical data further increase costs and restrict the flexibility of the product pipeline. Consequently, the introduction of new per-encounter devices may be delayed, limiting their market potential. Additionally, the COVID-19 pandemic has significantly impacted the medical equipment industry, leading to severe shortages of masks, ventilators, and testing supplies in hospitals. The mismatch between supply and demand for personal protective equipment (PPE) has further strained the capacity of medical device manufacturers to meet the heightened demand.

Regional Trends:
North America is expected to hold a dominant share of the per-encounter medical market, with strong market growth projected in the coming years. The region benefits from a robust healthcare system, a high prevalence of chronic diseases, and favorable reimbursement policies. In Europe, the market also holds a substantial share, driven by the presence of major market participants, the growing elderly population, and an increasing preference for less invasive surgical procedures in the region.

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Recent Developments:
• In August 2023, Abbott released the "Vertigo Coach" app, a digital health solution that provides 24/7 access to resources for those with vertigo, allowing them to manage their illness holistically. People with vertigo will find it a helpful companion, offering advice on healthy habits and exercise to help them manage their illness.
• In April 2021, Cardinal Health unveiled a novel platform aimed at enhancing medication adherence. The software, Outcomes, comprises medication therapy management, digital patient engagement, and pharmacy telehealth technologies.

Segmentation of Per-Encounter Medical Market-
By Product Type-
• Consumables
• Devices
• Software
• Services
• Others
By Application-
• Cardiology
• Orthopedics
• Obstetrics/Gynecology
• Ophthalmology
• Gastroenterology
• Others
By End-User-
• Hospitals
• Clinics
• Diagnostic Centers
• Others
By Distribution Channel-
• Direct Tender
• Retail Sales
• Online Sales
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/per-encounter-medical-market/2253

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.