The Business Research Company’s Healthcare Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 14, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The healthcare services market overview shows that survival rates and quality of life have improved tremendously over the past decade. Medical and technological advances have played an important role in their progress. High technology diagnostics and therapeutic equipment integrating doctors’ practice patterns have improved healthcare services delivery. According to a report by TrendWatch, medical advances are responsible for a 70% improvement in survival rates for heart attack patients and a two-thirds reduction in mortality rates for those suffering from cancer. These factors contribute to the potential growth of the market.
The global healthcare services market size is expected to grow from $6.43 trillion in 2020 to $7.04 trillion in 2021 at a compound annual growth rate (CAGR) of 9.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.11 trillion in 2025 at a CAGR of 7%.
North America has the largest healthcare services market share, accounting for 40% of the market in 2020. Asia Pacific is the second largest region, accounting for 25% of the global healthcare services market. Africa was the smallest region in the global healthcare services market.
The global healthcare services market is segmented by type into 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, by end user sex into male, female, and by type of expenditure into public, private. Subsegments covered are 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.
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