Global Health Care And Social Assistance Market Overview 2024: Size, Growth Rate, and Segments

The health care and social assistance global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Health Care And Social Assistance Market, 2024The health care and social assistance global market report 2024

Market Size - The health care and social assistance market size has grown strongly in recent years. It will grow from $1.41 billion in 2023 to $1.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increased demand for healthcare services due to a growing elderly population, increased prevalence of chronic conditions like diabetes, heart disease, and obesity, implementation and changes in healthcare policies, growing recognition, and demand for mental health services, continuous increase in healthcare expenditure by both private and public sectors.
The health care and social assistance market size is expected to see strong growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to the ongoing increase in the elderly demographic, further driving demand for geriatric and long-term care services, growth in tailored treatments based on genetic, environmental, and lifestyle factors, potential reforms in healthcare policies affecting insurance coverage, pricing, and access, increased investment in healthcare facilities and digital infrastructure, enhanced focus on global health security and preparedness for pandemics. Major trends in the forecast period include increased use of AI and ML for diagnostics, personalized treatment plans, personalized healthcare approaches, development of integrated care systems that combine physical, mental, and social health services for holistic patient care, shift from fee-for-service models to value-based care models that prioritize patient outcomes and cost efficiency.

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Scope Of Health Care And Social Assistance MarketThe Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Health Care And Social Assistance Market Overview

Market Drivers -The rising prevalence of chronic illnesses is projected to enhance the healthcare and social assistance market. The increase in chronic illnesses is primarily attributed to an aging population and lifestyle factors such as poor diet, lack of exercise, and higher incidences of risk factors like obesity and smoking. Healthcare and social assistance services are essential in managing chronic diseases by providing medical treatment, preventive care, and support services aimed at improving patients' quality of life and reducing disease complications. For instance, a report from the National Library of Medicine in January 2023 indicated that the population aged 50 and older in the United States is expected to grow by 61.11%, rising from 137.25 million in 2020 to 221.13 million by 2050. Among this demographic, the number of individuals with at least one chronic disease is anticipated to nearly double, increasing by 99.5% from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising prevalence of chronic illnesses will drive growth in the healthcare and social assistance market.

Market Trends - Major companies operating in the healthcare and social assistance market are focusing on developing advanced technology-enabled virtual specialty care services to enhance patient care and streamline healthcare delivery. Technology-enabled virtual specialty care services refer to remote healthcare services provided by specialists using digital tools and platforms to diagnose, treat, and manage patient conditions. For instance, in February 2022, Biofourmis, a US-based provider of virtual care and digital therapeutic solutions, launched Biofourmis Care, a technology-enabled service designed to provide virtual specialty care for patients with chronic conditions. This service utilizes a multidisciplinary team, including trained health navigators and licensed clinicians, to deliver remote care. It integrates seamlessly with patients' existing healthcare providers to ensure comprehensive care. The platform uses AI-driven algorithms to help healthcare teams optimize medication regimens and detect early signs of clinical deterioration for timely interventions.

The health care and social assistance market covered in this report is segmented –

1) By Type: Private, Public
2) By Product And Services: Ambulatory Healthcare Services, Hospitals, Nursing Homes And Residential Facilities, Social Assistance, Other Product And Services
3) By Modes: Online, Offline
4) By Application: Yield Monitoring, Soil Monitoring, Scouting, Other Applications

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Regional Insights - North America was the largest region in the health care and social assistance market in 2023. The regions covered in the health care and social assistance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies in the market are UnitedHealth Group Inc, CVS Health Corporation, Cigna Corp, Elevance Health Inc, Centene Corporation, Kaiser Foundation Health Plan Inc, Humana Inc, Hospital Corporation of America (HCA), CommonSpirit Health, Ascension Health, Providence Health & Services, HM Health Solutions Inc., University of Pittsburgh Medical Center, Tenet Healthcare Corporation, Mayo Foundation for Medical Education and Research (MFMER), Sutter Bay Medical Foundation, Trinity Health Corporation, Quest Diagnostics Incorporated, Cleveland Clinic Foundation, Encompass Health Corp , Brookdale Senior Living Inc., CoxHealth, Practice Fusion Inc., Feeding America West Michigan, Validic Inc.

Table of Contents 1. Executive Summary2. Health Care And Social Assistance Market Report Structure3. Health Care And Social Assistance Market Trends And Strategies4. Health Care And Social Assistance Market – Macro Economic Scenario5. Health Care And Social Assistance Market Size And Growth…..27. Health Care And Social Assistance Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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