Medical Examination Market: Introduction
- Medical examination is also termed as physical examination. It is a physical health examination performed on an asymptomatic person for regular screening purposes. It is generally performed by pediatricians or family physicians at regular intervals. Routine physical examination ensures the good health of a person. Mostly depending on personal history, a doctor could choose particular area for examination such as blood pressure related issues, diabetes, and cardiovascular checks. The test results from medical examination can help in early diagnosis of serious illness and future preventive measures can be taken accordingly.
- A medical examination primarily includes vital sign checks, visual exam, physical exam, and laboratory tests. Vital sign checks cover recording blood pressure, respiratory rate, and heart rate of a person. In a visual exam, physician reviews the appearance of a person for signs of any potential conditions, checks head, eyes, chest, abdomen, and throat, and also the musculoskeletal systems (such as hands and wrists) and nervous system (such as speech and walking). For physical examination, a doctor uses tools to look into eyes, ears, nose, and throat. Blood sample of a person is collected to conduct several laboratory tests. The panel tests blood plasma and can indicate any issues that exist in kidneys, liver, blood chemistry, and immune system.
Key Drivers, Restraints, and Opportunities of Global Medical Examination Market
- Increase in major health issues among the global population is a major factor driving the global medical examination market. The global population is facing new types of diseases due to a number of reasons such as lifestyle. Regular health check-ups help people to take care of their health and body in the best possible manner as they age further. Moreover, it acts as an alert system for any upcoming major health issue. Finding problems early means increased chances for getting effective treatment to the person.
- Deterioration in physical examination skills among modern physicians is a major restraint of the global medical examination market. Increase in dependence on laboratory investigations and automation has led to several problems that are significant threats to patient safety. Poor physical examination skill causes more impudent referrals and mismanagement of patient’s health. Moreover, rise in cost of health care hampers the growth of the global medical examination market.
- Technological advancements will attract more people for regular medical examination. These will also help in more accurate and in-depth results leading to opportunities in the global medical examination market.
North America to Capture Major Share of Global Medical Examination Market
- North America is projected to lead the global the medical examination market because high disposable income and best health care facilities have fueled the growth of medical examination. According to data released by the Organisation for Economic Co-operation and Development (OECD) in 2019, the U.S. currently ranks the highest in health care spending among the developed nations of the world with US$ 11,072 per capita.
- Europe is expected to account for the second largest share of the global medication examination market during the forecast period. Government initiatives by spending major chunk of GDP on health care have improved the health care systems of different countries in the region. In most of the countries, every citizen is enrolled in the national health care system and a large portion of medical services are provided free of charge by doctors who are employed by the government. Countries such as Switzerland and the U.K. are considered to have the best health care facility in the world.
Key Players Operating in Global Medical Examination Market
The global medical examination market is highly fragmented, with the presence of various key players. A large number of manufacturers hold major share in their respective regions. Major players operating in the global medical examination market are:
- AcuMed Medical
- Cleveland Clinic
- Cooper Aerobics
- Health 100
- IKang Group
- Japanese Red Cross
- Kaiser Permanente
- Lifescan Medical Centre
- Mayo Clinic
- Mediway Medical
- Milord Health Group
- MJ Health Care
- Nuffield Health
- PL Tokyo Health Care Center
- Raffles Medical Group
- Rich Healthcare
- Samsung Total Healthcare Center
- Seoul Medicare
- Seoul National University Hospital
- St. Luke’s International Hospital
- Sun Medical Center
- Tokyo Midtown Clinic
The global medical examination market can be classified as:
Global Medical Examination Market, by Type
- Routine Physical Examination
- Comprehensive Physical Examination
Global Medical Examination Market, by End-user
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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