In its most recent update published on January 28, the
IMF announced that world growth is forecast to fall to its lowest level since World War II. And with the US
being one of the worst hit, the hospital business, an integral part of the
medical marketplace, and often regarded as recession proof is beginning to feel the heat.
Despite the fact that hospitals aren't hit the way the way the automotive sector or the retail has been, and that people will continue to fall sick irrespective of the economy, it seems that the number of people seeking medical care and the profitability of hospitals don’t walk hand-in-hand.
Growth stunted & patients decreasingA recent report by the
American Hospital Association (AHA) finds that the sputtering economy has already led to 45% of hospitals to postpone forthcoming capital projects, with about 13% being forced to completely stall any expansion projects already underway. The AHA report included 639 hospitals in the study.
Further, experts believe that even though people continue to fall sick they're postponing, most treatments if not all, which can be classified as elective. The credit for the prevailing scenario goes to all the layoffs and the slowing economy. As per the Bureau of Labor Statistics the month of December saw some of the worst layoff figures, as there were 2,275 mass layoff actions, involving 226,117 workers.
What seems worse is that aside from foregoing elective treatments, patients seem to be avoiding essential drugs, with many actually
abusing prescription drugs, such as narcotic painkillers , sedatives and tranquilizers and stimulants.
As a consequence, hospitals are reeling under delayed
hospital equipment and supply purchases, declining patient visits, reduced staff with no fresh hiring, unpaid medical bills, in addition to ceasing any construction projects. The AHA survey, released in November last year found that patient visits were static or had decreased during the third quarter of 2008, and the cases of unpaid medical bills for hospitals registered a hike of 8%.
The government's role in uplifting the spirit of hospitals is being thought to be instrumental as Medicare and Medicaid account for about half of the hospital business industry.
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complementary therapies in 1996 stood at $106.4 million, while the sales of herbal remedies totaled $56 million. Homeopathy, chiropractic, acupuncture, medical herbalism, osteopathy, hypnotherapy, aromatherapy are some popular CAM therapies.
of the population gets its primary health care via Alternative medicines. About 12 percent children use CAM in the US such as homeopathic medicines, herbs and yoga for addressing a number ailments. However, CAM usage has decreased for head or chest colds from 2002 to 2007 in the US.
was expected grew at an annual rate of about 6 percent to $28.63 billion by 2005. The IVD product, point-of-care instrument and the medical diagnostic kit (MDK) markets have emerged as growing segments of the diagnostic laboratory industry.
amounted to $228 billion. In 2009, a number of blockbuster drugs are losing patent protections, some of them include Prevacid, Imigran, Arimidex, Keppra, Cellcept, Flomox, AmbienCR, Valtrex, and Topamax. According to IMS Health, the generic drugs industry is expanding at a growth rate of 7.8%, which faster than the world's market for pharmaceuticals.
companies, the average revenue in 2007 was $17,340,702. In the coming thirty years, the American population over 65 years of age will double to 70 million. Ageing population coupled with several other make the market for home healthcare service promising.
21.05 billion by 2010, and up to $23.8 billion by 2012. As competition within the industry increases, the vaccine market will resemble the conventional market for pharmaceutical products. Amongst many trends seen within the are that vaccines aimed at anthrax, plague, and smallpox, are being designed to defend against bioterrorist attacks. Also, vaccines to stimulate innate immune responses as well as adaptive are being developed, and more.
increasing from $8 billion in 1992 to $39.2 billion in 2003. Further, it is large and complex and is engaged in about 38 areas of sub‐sector elements, from plant and animal life sciences to drug discovery and information technology. The job market forecast of biological technicians, is expected to grow by 28.2 percent between 2004 and 2014.
the collection, transport, and disposal of wastes is now faced with meeting the raised expectations of the populace, owing to increasing environmental concerns. The three major players in the waste management business are Allied Waste Industries, Waste Management, and Republic Services, and together with 10,000 private sector firms in the business, generate annual revenues to the tune of $50 billion.
New York.
the reputation of the drugmaker as being the most ethically challenged pharma company around.
products letters, asking them to have a "Risk Evaluation and Mitigation Strategy (REMS)," in place.
assess the activities of rivals and examine recent trends and opportunities. However, successfully participating at a trade show and deriving all the benefits requires a well-planned approach, or else the participant's cost might turn out to be higher than any benefits. Read on to know the essential tips for make your participation at trade shows a success.
being one of the worst hit, the hospital business, an integral part of the medical marketplace, and often regarded as recession proof is beginning to feel the heat.
make your dreams a reality, you'd need to take precautions before you place an import order because a bad supplier can really affect your business within the medical marketplace. The good thing is that it's not all that hard to take effective measures for ensuring your business safety. A basic understanding and some essential tips can go a long way to accomplish a successful import. Read on to know what it takes to import medical supplies safely an effectively.
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