The Business Research Company’s Healthcare Services Market Report – Opportunities And Strategies – Global Forecast To 2023
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The global healthcare services market overview by The Business Research Company 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, and ambulance services.
It is also segmented by end user gender into male and female, and 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, and water ambulance services.
The global healthcare services market size is expected to decline from $7.10 trillion in 2019 to $6.65 trillion 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 healthcare services market growth rate is expected to recover at 7% from 2021 and reach $9.72 trillion in 2023. North America has the largest healthcare services market share, accounting for 40% of the market in 2019. Asia Pacific is the second largest region, accounting for 25% of the global healthcare services market.
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