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Along with food and housing, good health is one of the most critical aspects of a happy life. With the rapid surge in population, the prevalence of various diseases has also increased, which, in turn, has raised the demand for healthcare services around the globe. As a result, the healthcare industry is one of the most prosperous ones, especially in present times, when the COVID-19 pandemic is raging on. Currently, the industry in Germany, the U.S., France, the U.K., Japan, China, and Singapore is growing the fastest, as these are some of the worst-affected nations by the coronavirus infection and also because the healthcare spending here is among the highest anywhere.
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Healthcare © P&S Intelligence. All rights reserved Page 1
Growing Disease Incidence Driving Global Healthcare Industry Along with food and housing, good health is one of the most critical aspects of a happy life. With the rapid surge in population, the prevalence of various diseases has also increased, which, in turn, has raised the demand for healthcare services around the globe. As a result, the healthcare industry is one of the most prosperous ones, especially in present times, when the COVID-19 pandemic is raging on. Currently, the industry in Germany, the U.S., France, the U.K., Japan, China, and Singapore is growing the fastest, as these are some of the worst-affected nations by the coronavirus infection and also because the healthcare spending here is among the highest anywhere. Receive Sample Copy of this Report:https://www.psmarketresearch.com/market-analysis/healthcare- ecosystem-insights/report-sample In 2019, the medical sector of the U.S. was projected to reach $5,605.5 billion by 2024, but the future size might actually be a lot larger. Even in the coming years, the medical domain in this country is expected to grow the fastest, primarily due to the high prevalence of chronic diseases. One in every six persons in the U.S. has at least one chronic disease, as per the Centers for Disease Control and Prevention (CDC). In the coming years, the prevalence of cancer, in particular, is expected to surge sharply here, which would lead to a high footfall at hospitals and diagnostic centers. Make an Enquiry before Purchase:https://www.psmarketresearch.com/send-enquiry?enquiry- url=healthcare-ecosystem-insights The other reasons behind the industry advance here and in other countries are the rising gross domestic product (GDP), surging purchase of health insurance plans, preference for in-vitro diagnosis (IVD), and increase in the population of the elderly, which as per the latest World Population Ageing report by the United Nations Department of Social and Economic Affairs, is on path to reaching 1.5 billion by 2050, from 703 billion in 2019. Such people fall sick or fall down more often, as they are immunocompromized and physically weak, respectively. For a better understanding of the worldwide healthcare ecosystem, it can be segregated in several ways. For instance, if disease is considered, the entire industry could be broken down into cancer, cardiovascular and circulatory diseases, neuropsychiatric disorders, chronic respiratory diseases (CRD), diabetes, blood, and endocrine disorders, chronic liver diseases, and musculoskeletal disorders. Due to their death toll being the highest, around 17.9 million annually, as per the World Health Organization, the treatment of cardiovascular and circulatory diseases contributes the most to the healthcare sector around the world, including Germany. Thus, as the burden of diseases increases around the world, the need for healthcare will become even dire. © P&S Intelligence. All rights reserved Page 2
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