The healthcare market is segmented by type into healthcare services, pharmaceutical drugs, medical equipment, biologics, and veterinary healthcare. Healthcare services was the largest segment of the healthcare market, accounting for around79% of the total in 2018. It was followed by pharmaceutical drugs, medical equipment and then the other segments.
The healthcare services market consists of sales of healthcare services and related goods by entities (organizations, sole traders and partnerships) that provide human healthcare services. This industry includes establishments that provide services such as medical and diagnostic laboratory services, dental services, nursing care, residential substance abuse and mental health facilities and other healthcare services.
The global healthcare market was valued nearly at $8.4 trillion in 2018. North America was the largest market for healthcare, accounting for 42% of the global market in 2018. The USA is the largest country in terms of value in the Healthcare market.
The healthcare services market consists of sales of healthcare services and related goods by entities (organizations, sole traders and partnerships) that provide human healthcare services, or that provide veterinary healthcare service to pets, farm animals and animals kept in zoos and wildlife parks, or that manufacture and sell pharmaceutical drugs used to treat diseases, or that manufacture biologics to treat and prevent microbial diseases and cancer, or that manufacture medical equipment which are used in the diagnosis, treatment and monitoring of medical conditions.
Healthcare Market Size
The global healthcare market size is expected to grow at a growth rate of about 9% by 2022. Growth in the historic period resulted from rapid growth in elderly population, strong economic growth in emerging markets, declining oil prices and health insurance reforms. Factors that negatively affected growth in the historic period were low healthcare access, shortage of skilled man power, difficulty in manufacturing biologics and government regulations.
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The healthcare market is segmented by type and by geography.
By Type – The healthcare market can be segmented by type into
- a) Healthcare Services
- b) Pharmaceutical Drugs
- c) Medical Equipment
- d) Biologics
- e) Veterinary Healthcare
Healthcare services was the largest segment of the healthcare market, accounting for 79.4% of the total in 2018. Going forward, the fastest growing segments in the healthcare market will be biologics and veterinary healthcare, where growth will be at CAGRs of 13.6% and 10.9% respectively.
By Type Of Healthcare Services – The healthcare services market can be segmented by type into
- a) Medical And Diagnostic Laboratory Services
- b) Medical Laboratory Services
- c) Diagnostic Imaging Centers
- d) Dental Services
- e) Nursing Care
- f) Hospitals And Clinics
- g) Physicians And Other Health Practitioners
- h) All Other Ambulatory Health Care Services
By Type Of Dental Services – The healthcare services market can be segmented by type of dental services into
- a) General Dentistry
- b) Oral Surgery
- c) Orthodontics And Prosthodontics
By Type Of Nursing Care – The healthcare services market can be segmented by type of nursing care into
- a) Home Health Care Providers
- b) Nursing Care Facilities
- c) Group Care Homes
- d) Retirement Communities
By Type Of Residential Substance Abuse And Mental Health Facilities – The healthcare services market can be segmented by type of residential substance abuse and mental health facilities into
- a) Residential Mental Health & Intellectual Disability Facilities
- b) Substance Abuse Centers
By Type Of Hospitals And Clinics – The healthcare services market can be segmented by type of hospitals and clinics into
- a) Hospitals
- b) Clinics
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