Healthcare Market By Type (Pharmaceutical, Biotechnology, Healthcare IT, Medical Devices, Medical Diagnostics, and Advanced Technologies) and By Region - Trends, Analysis, and Forecast till 2029

Healthcare Market size and share are expected to cross the USD 3 trillion mark in 2020 and are projected to register a CAGR of 7.30% by 2029.

Healthcare is the maintenance or improvement of health through the prevention, diagnosis, treatment, recovery, or cure of disease, injury, illness, and other mental and physical impairments in individuals. Health care is provided by health specialists in associated healthcare fields. Physicians and physician specialists are a part of these health professionals. Pharmacy, dentistry, midwifery, nursing, optometry, medicine, audiology, psychology, occupational therapy, athletic training, physical therapy, and other health professions are all part of health care. It includes work done in providing primary care, secondary care, and tertiary care, as well as in public health.

Advancements in medical technology, medical services, new medical devices & equipment, changing regulatory environment, and growth in healthcare expenditure by governments globally are expected to certainly drive investment in the target market. Quality of healthcare is a major focus in the upcoming years. The key players in the developed economies are revamping their existing medical facilities. Government policies or initiatives (like IRP in China) help in providing access to numerous treatment regimes and affordable drugs. 

Trends in medical tourism, personalized medicine, generic medicine, and advancements in bioengineering are set to boost investments in the sector over the forecast period.

Conversely, the high cost associated with healthcare analytics systems is a factor that might limit the growth of the global healthcare market over the forecast period. Furthermore, concerns regarding data security are another factor that could affect the growth of the global market. 

Nevertheless, the growing demand for cloud-based healthcare analytics can create lucrative revenue opportunities for players in the global market.

The global healthcare market is segmented based on the type and region.

Based on the type, the global healthcare market is segmented into pharmaceutical, biotechnology, healthcare IT, medical devices, medical diagnostics, and advanced technologies.

In the region, the global healthcare market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific healthcare market is expected to witness the fastest growth over the forecast period, owing to growing investments in healthcare infrastructure developments, and the emerging trend towards the digitization of patient records. Additionally, the accelerated economic growth of many countries in the region, the growing requirement to control the soaring healthcare costs, and the considerably soaring patient population with chronic and infectious diseases are also boosting the growth of the target market in this region.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2029.  For the purpose of this study, has segmented the global healthcare market report based on type and region.

Global Healthcare Market, By Type:

• Pharmaceutical
• Biotechnology
• Healthcare IT
• Medical Devices
• Medical Diagnostics
• Advanced Technologies

Global Healthcare Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating in the global healthcare market include Optum Health, McKesson Corporation, International Business Machine Corporation (IBM), Allscripts Healthcare Solutions, Inc., athenahealth, Inc., Epic Systems Corporation, GE Healthcare, Dell Technologies Inc., Cerner Corporation, and Oracle Corporation. Some of the key strategies adopted by the players operating in the global healthcare market were acquisition, collaborations, and product/service approval & launch. For instance, in Oct 2019, Allscripts extended its agreement with Northwell Health, New York’s most extensive health system, by providing its Allscripts Sunrise platform until December 2027.

• Optum Health
• McKesson Corporation
• International Business Machine Corporation (IBM)
• Allscripts Healthcare Solutions, Inc.
• athenahealth, Inc.
• Epic Systems Corporation
• GE Healthcare
• Dell Technologies, Inc.
• Cerner Corporation
• Oracle Corporation