Latest News- Healthcare Services Market: Adult care is expected to lead the End-user segment during 2024-2028

The Healthcare Services Market is being driven by Increasing prevalence of chronic diseases

The Healthcare Services Market is expected to grow at a CAGR of 8.73% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6263.7 billion. The healthcare services market has undergone substantial evolution, primarily driven by the increasing utilization of telemedicine, or telehealth. Telemedicine refers to the delivery of remote clinical healthcare services through digital communication and technology. This innovative approach has gained considerable traction in the global healthcare sector, providing numerous advantages to both healthcare providers and patients. One of the most significant benefits of telemedicine is the enhanced accessibility to healthcare services. Telemedicine has expanded opportunities for patients in geographically remote or underserved regions, allowing them to consult with healthcare professionals virtually, thereby eliminating the need for physical travel. This not only saves time and resources but also ensures that patients receive timely and effective care. Moreover, telemedicine offers other advantages, such as reduced healthcare costs, improved patient engagement, and increased efficiency for healthcare providers. As telemedicine continues to evolve, it is poised to revolutionize the healthcare services market and transform the way healthcare is delivered. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Adult care
  • Geriatric care
  • Pediatric care
• Service
  • Hospitals and clinics
  • Primary care services
  • Long-term care services
  • Home healthcare
  • Others
• Type
  • Inpatient Services
  • Outpatient Services
  • Diagnostic Services
  • Telehealth
• Payer Type
  • Public Insurance
  • Private Insurance
  • Out-of-Pocket
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing prevalence of chronic diseases
• Rise in geriatric population globally
• Growing focus on patient satisfaction in healthcare services

However, the market also witnesses some limitations, which are as follows:

• Increasing healthcare costs
• Limited availability of skilled workforce
• Increasing cases of fraudulent acts by service providers

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Market Scope in Healthcare Services Market Research Report

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Research Analysis Overview

In the dynamic healthcare services market, key solutions include medical billing software, claims management systems, and Electronic Health Records (EHR) software for efficient administration. Patient engagement platforms, remote monitoring devices, and wearable sensors promote proactive care. Telehealth platforms, blockchain in healthcare, precision medicine, and personalized medicine drive innovation. Drug discovery and development, medical imaging analysis, and medical image processing advance diagnostics. Healthcare analytics platforms ensure data security and compliance, while medical coding, medical transcription, pharmacy management, electronic prescribing, medication adherence, patient safety, quality improvement, healthcare accreditation, and medical transcription streamline operations.

Market Research Overview

The Healthcare Services Market, as identified by Technavio, is a significant segment of the global healthcare equipment market. This market encompasses businesses providing remote patient monitoring, medical billing, claims processing, revenue cycle management, patient portals, and appointment scheduling services. The parent global healthcare equipment market involves manufacturers of various diagnostic equipment and devices, covering capital equipment, instruments, implants, accessories, and consumables used for disease diagnosis, monitoring, and treatment. Technavio calculates the market size based on the combined revenue generated by these manufacturers across diverse therapy areas. The healthcare equipment industry is segmented into Devices, which includes advanced, differentiated, and clinically tested data-driven devices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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