Healthcare Industry Size, Segment Analysis and Forecast Report 2024

Oct 11, 2019 | Publisher: vijaymishrapsmarket | Category: Health & Medical |   | Views: 1 | Likes: 1 Healthcare Industry in the U.K. to Reach $585.5 Billion by 2024 Copyright © P&S Intelligence Ecosystem of Healthcare Industry “ Healthcare Ecosystem Insights is a report that provides an analysis of the healthcare industry in Germany, Singapore, France, Japan, the U.K., China, and the U.S. Growing at a 3.6% CAGR during the forecast period, the healthcare industry of China is projected to reach $542.4 billion by 2024. Government initiatives and improved infrastructure, growing chronic disease prevalence, and increasing healthcare expenditure and gross domestic product are stimulating the industry growth in these countries. Explore report at: insights Copyright © P&S Intelligence Ecosystem of Healthcare Industry Based on payment mechanism, the healthcare industry can be classified into self-pay, fee-for-service, and value-based reimbursement. Fee-for-service is the most commonly utilized payment mechanism in the U.K. healthcare industry, and is expected to hold 70.1% share by 2024. The category is expected to advance at a CAGR of 3.0% during the forecast period, mainly on account of rising preference of people for this payment mechanism, due to the provision of paying individually for different services. Based on the type of diagnostic equipment, the healthcare industry is categorized into X-ray, ultrasound devices, magnetic resonance imaging (MRI) systems, computed tomography (CT) scanners, mammography equipment, endoscopes, and others. X-ray is estimated to be the largest as well as the fastest growing category in all the countries covered in the report. It is expected to occupy 40.4% share in Singapore’s healthcare industry by 2024, advancing at a CAGR of 6.4% during the forecast period. The increasing usage of this equipment in the diagnosis of various diseases and injuries is a key factor driving the growth of this category. Additionally, in terms of volume, X-ray will also the largest category in the country’s healthcare industry, with over 7 thousand units expected to be installed by 2024. Copyright © P&S Intelligence Ecosystem of Healthcare Industry The healthcare industry in the U.S. is expected to witness fastest growth, progressing at a CAGR of 6.6% during the forecast period. The industry growth in the U.S. can be largely attributed to the increasing prevalence of chronic diseases. According to the National Center for Chronic Disease Prevention and Health Promotion 2019, about six in 10 adults in the U.S. have a chronic disease. The country ranks 5th in the world for age-standardized rates for all cancer. In 2018, the age-standardized rate for all cancer was 352.2 per 100,000 in the U.S. This rising prevalence of cancer is expected to spur the demand for advanced diagnostic imaging systems, to determine the prognosis of the disease for appropriate treatment; thus, contributing to the growth of the industry in the country. Request for report sample at: ecosystem-insights/report-sample Copyright © P&S Intelligence Ecosystem of Healthcare Industry Other key factors driving the growth of the market are increasing use of point-of-care (POC) diagnostics solutions, and introduction of advanced technologies in the country. Rise in the adoption of healthcare insurance also leads to the greater adoption of healthcare facilities, as it lowers the financial burden on patients. According to the American Federation of Labor and Congress of Industrial Organizations, in 2014, out of 283.2 million people in the U.S had some type of health insurance, with 66% of people covered by a private health insurance plan. Pre-Purchase Inquiry at: ecosystem-insights Copyright © P&S Intelligence Ecosystem of Healthcare Industry Key players operating in the healthcare industry are acquiring other players to strengthen their product portfolio and increase their market share. For instance, in January 2019, Shimadzu Medical Systems USA, a subsidiary of Shimadzu Corporation, acquired Core Medical Imaging Inc., a medical imaging products and services company. This acquisition by Shimadzu aimed at expanding its healthcare business in North America. Further, in September 2018, Zurich Insurance Group acquired Adira Insurance, a leading insurer in Indonesia. This acquisition was a part of the company’s geographical expansion in the APAC region. In July 2018, AIA Group Limited completed the acquisition of Commonwealth Bank of Australia’s life insurance business in New Zealand. This partnership will last for 20 years. The company will be selling its solutions and services through bancassurance. Click to edit Master title style Edit Master text styles 7/30/2019 7 US/Canada Toll-Free: 1-888-778-7886 GET IN TOUCH THANK YOU! For queries, kindly write to: B-13, Sector-2, Noida, U.P.-201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886

The healthcare industry is subdivided into fee-for-service, self-pay, and value-based reimbursement, based on payment mechanism. Fee-for-service is expected to hold a 70.1% share by 2024 in the U.K. healthcare industry, as it is the most commonly used payment mechanism in the country. The increase in the number of people preferring this payment mechanism over others, owing to its provision to pay individually for different services, is predicted to result in this category’s growth at an expected 3.0% CAGR during the forecast period.


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