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 services market is expected to decline from $7102.7 billion in 2019 to $6657.1 billion in 2020 at a compound annual growth rate (CAGR) of -6.3%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Globally, the essential and emergency healthcare services have been prioritized which include covid related activities, prevention and management of communicable diseases, reproductive health, maternal health, new-born and child health, and other emergencies, while, non-essential services that include health promotional activities, other non-emergency screening services, routine diagnostic tests, and other desired health services among others have been restricted and recommended to shut down. Therefore, although some of medical emergency services are available, since most of the other healthcare services are shut down, the market is expected to slightly decline. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $9725.4 billion in 2023. North America was the largest region in the global healthcare services market, accounting for 40% of the market in 2019. Asia Pacific was the second largest region accounting for 25% of the global healthcare services market. Africa was the smallest region in the global healthcare services market. Laboratories in developed economies are looking to optimize by investing in automatizing equipment to meet the demands of testing more efficiently. Automating labs increases cost efficiency and automated equipment is being introduced in core areas of diagnostics like microbiology and molecular diagnostics. For example the Aptio Automation System at NHS, Tayside processes 7000 tubes per day, a 20% increase in the workload of its main laboratory, without any additional staff.
The major players in the global healthcare services market are National Health Service, Fresenius Medical Care AG & Co. KGaA, Community Health Systems, DaVita, Universal Health Services
The countries covered in the global healthcare services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The global healthcare services market is segmented:
1) By Type, Medical And Diagnostic Laboratory Services, Dental Services, Home Health Care And Residential Nursing Care Services, Residential Substance Abuse And Mental Health Facilities, Hospitals And Outpatient Care Centers, Physicians And Other Health Practitioners, All Other Ambulatory Health Care Services, Ambulance Services
2) By End User Gender, Male, Female
3) By Type of Expenditure, Public, Private Subsegments Covered, Medical Laboratory Services, Diagnostic Imaging Centers, General Dentistry, Oral Surgery, Orthodontics And Prosthodontics, Other Dental Services, Home Health Care Providers, Nursing Care Facilities, Orphanages & Group Homes, Retirement Communities, Residential Mental Health & Intellectual Disability Facilities, Substance Abuse Centers, Hospitals, Outpatient Care Centers, Specialist Doctors, Primary Care Doctors, Physical Therapists, Optometrists, Chiropractors, Podiatrists, Ground Ambulance Services, Air Ambulance Services, Water Ambulance Services