Global Healthcare Market Overview
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 specialist 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. The global healthcare market is accounted for to cross US$3 trillion marks in 2020 and is projected to register a CAGR of 7.30% by 2029.
Impact of COVID-19 on the market
The outbreak of COVID-19 has raised the demand for a number of kits and rapid tests. As screening is being performed at a massive scale during this outbreak hotspot. There is a huge demand for Covid-19 screening as a crucial factor for revenue growth in this market space. Additionally, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who might need critical care. Besides, there is an urgent requirement for a rapid acceleration in the manufacturing process for an extensive range of test-kits. This report will quantify the impact of this pandemic on the healthcare market.
Global Healthcare Market Dynamics
Advancements in medical technology, medical service, new medical devices & equipment’s, changing regulatory environment and growth in healthcare expenditure by governments globally are expected to certainly drive investment of 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) helps in providing access to numerous treatment regime 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 is 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.
Global Healthcare Market Segmentation
The global healthcare market is segmented based on the type and region.
On the basis of 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, accelerated economic growth of many countries in the region, the growing requirement to control the soaring healthcare costs, and considerably soaring patient population with chronic and infectious diseases are also boosting the growth of the target market in this region.
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Attribute |
Details |
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The base year for estimation |
2020 |
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Forecast period |
2020 – 2029 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
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Market Segmentation |
By Type - Pharmaceutical, Biotechnology, Healthcare IT, Medical Devices, Medical Diagnostics, and Advanced Technologies |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Healthcare Market Key Players
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.
Global Healthcare Market Company Profile
- Optum Health
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- 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
“*” marked represents similar segmentation in other categories in the respective section
Global Healthcare Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Healthcare Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Healthcare Market, By Type, 2020 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2029
- Y-o-Y Growth Analysis (%), 2020 – 2029
- Segment Trends
- Pharmaceutical
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2029
- Biotechnology
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2029
- Healthcare IT
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2029
- Medical Devices
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2029
- Medical Diagnostics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2029
- Advanced Technologies
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2029
- Overview
- Global Healthcare Market, By Region, 2020 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2029
- Y-o-Y Growth Analysis (%), 2020 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- Optum Health
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- 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
- Optum Health
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- The Last Word
- Future Impact
- About Us
- Contact
Global Healthcare Market Highlights
FAQs
The global healthcare market is segmented based on type and region.
Advancements in medical technology, medical service, new medical devices & equipment’s, changing regulatory environment and growth in healthcare expenditure by governments globally are expected to certainly drive investment of the target market.
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.
Some of the key strategies adopted by the players operating in the global healthcare market were acquisition, collaborations, and product/service approval & launch.