Medical Terminology Software market Research, Opportunities, Competitive Landscape Analysis and Regional Developments Report
Market Synopsis
As per the
Market Research Future (MRFR), Medical
Terminology Software Market Size is projected to reach USD 1.2 Billion by
2030 at 19.20% CAGR during the forecast period 2022-2030. The growing adoption of vaccination to
eliminate bacterial meningitis is expected to increase the demand for
immunization therapies, which can augment the global market in the assessment
period. The growing initiatives by the government and various authorities to
counter the increasing prevalence of meningitis is likely to offer efficient
methods of immunization, which is predicted to strengthen the industry.
Furthermore, the surging funds for R&D are projected to combat the
increasing cases of meningococcal infection that is likely to offer lucrative
opportunities to vaccine manufacturing companies, which can boost the trade.
On the
other hand, stringent government regulations for the approval of the new
vaccines are likely to hamper the market in the coming period. However,
effective meningococcal vaccination programs and the rising healthcare expenses
can counter the impeding cause that can boost the market growth during the
forecast period.
Medical Terminology Software Market Overview and Report Analysis by Product
& Service (Services, Platforms), Application (Public Health Surveillance,
Data Integration, Clinical Trials), End User (Healthcare Providers, Payers, IT
vendors)- Forecast till 2030
Market Segmentation
The
segmental analysis of the global Medical Terminology Software Market is done by
end-user and treatment type.
·
The end-user segments of the global market for meningococcal vaccines are research & academic
institutes, hospitals & clinics, and others.
·
The treatment-type segments of the global market for meningococcal vaccines are polysaccharides, meningococcal
conjugate vaccine, and subcapsular vaccine.
Regional Analysis
On the
basis of region, the global Medical Terminology Software Market Research is
segmented into North America, Europe, Asia-Pacific, and the Rest of the World
(RoW).
The global
market is anticipated to be dominated by North America during the forecast
period due to the growing support from the government of various regions. High
investments in R&D are predicted to be another significant cause that can
strengthen the regional market during the forecast period. Among all, the US is
projected to make the most significant contribution in developing vaccines
owing to the increasing incidence of meningococcal diseases.
Europe is
anticipated to acquire a significant market value during the forecast period
owing to the increasing research in the concerned field. Furthermore, the
growing favorable initiatives taken by the government of various countries of
the region are recognized to be another salient cause that can develop the
regional market in the coming period.
APAC is
expected to grow at a significant rate during the review period owing to the
increasing incidence of meningococcal diseases. Therefore, there has been a
rise in the production of the vaccine. The growing pediatric population and the
rising initiatives taken by the government of various countries to combat the
diseases are projected to augment the regional market during the review period.
MEA is
expected to acquire a small Medical
Terminology Software Market during the forecast period owing to high prices of the vaccine and
limited availability. The MEA countries have expressed interest in introducing
a multivalent and conjugate vaccine into the National Immunization Program
Schedule but have failed to do so owing to the prevailing economic crisis among
the countries.
Industry
News
·
November 2020
A renowned French pharma company, Sanofi, has
received approval from the European Commission for its Meningococcal (MenACWY)
vaccine MenQuadfi. The EC has given conformity for immunizing the individuals
from the age of 12 months and older.
Key Players
The Global
market for Medical Terminology Software Market Players are Serum Institute of India Ltd., Pfizer Inc., Baxter International,
Novartis Pharmaceuticals Canada Inc, JN-International Medical Corporation,
Sanofi S.A., Biomed Pvt. Ltd., and GlaxoSmithKline, among others.
About US:
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Floor, New York,
New York 10013
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