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Which Country is Expected to Witness Fastest Healthcare Industry Growth?

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

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Which Country is Expected to Witness Fastest Healthcare Industry Growth?

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  1. Health Insurance Plans Supporting Healthcare Industry Expansion 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. This is mainly credited to the surging prevalence of chronic diseases, soaring adoption of healthcare insurance, burgeoning requirement for in-vitro diagnostic (IVD) tests, mushrooming population of geriatric people, increasing gross domestic product (GDP) and healthcare expenditure, growing implementation of several government initiatives aimed at enhancing healthcare services, rapid digitization in the healthcare ecosystem, and improving healthcare infrastructure. The soaring population of geriatric people is one of the major growth drivers of the healthcare industry. This is because geriatric people are highly vulnerable to various chronic diseases such as neurological conditions, rheumatoid arthritis, and cardiovascular diseases (CVDs). The falling mortality and increasing life expectancy rates are the primary factors driving the growth of the geriatric population. As per the World Bank, the population of people in the age bracket— 65 years and above—surged from 30.4 million to 34.2 million from 2012 to 2017 in Japan. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/healthcare-ecosystem- insights/report-sample Similarly, the population of these people grew from 11.5 million to 13.2 million from 2012 to 2017 in France. Furthermore, as per the World Population Aging 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. In 2019, a study was conducted on people aged 75 years and above in Japan by the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP). This study revealed that more than 65% of these people were suffering from at least three co-occurring diseases such as coronary heart disease, hypertension, and peptic ulcers. This corroborates the theory that geriatric people are more likely to develop chronic ailments than younger individuals. As a result, their increasing population is positively impacting the demand for various medical facilities and medication all over the world. Besides these factors, the surging adoption of health insurance policies is also propelling the expansion of the healthcare industry across the world. This is because health insurance massively reduces the financial burden of healthcare on patients. Moreover, with the emergence of several publicly and privately funded medical insurance policies, healthcare has become affordable for a large number of patients. Additionally, many government organizations have launched several initiatives for boosting the use of health insurance. For example, the Government of Singapore enacted a national catastrophe insurance program called the MediShield Life in November 2015. Under this program, all 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. basic public hospital treatments for its permanent residents and citizens are covered. Depending on disease type, the healthcare industry is classified into cardiovascular and circulatory diseases, chronic respiratory diseases (CRD), cancer, neuropsychiatric disorders, musculoskeletal disorders, diabetes, blood, and endocrine disorders, and chronic liver diseases. Out of these, the cardiovascular and circulatory disease category is predicted to contribute the highest revenue to the German market in 2024. This will be due to the fact that cardiovascular diseases are the most-prevalent chronic ailments in the country. Hence, it is safe to say that the healthcare industry will exhibit huge expansion in the coming years, primarily because of the rising incidence of chronic diseases, surging population of geriatric people, soaring adoption of health insurance plans, and improving healthcare infrastructure in several countries. The research offers market size of Healthcare Industry for the period 2014–2024. Market Segmentation by Disease Type Cardiovascular and Circulatory Diseases Cancer Chronic Respiratory Diseases (CRD) Neuropsychiatric Disorders Diabetes, Blood, and Endocrine Disorders Musculoskeletal Disorders Chronic Liver Diseases Others Market Segmentation by Payment Mechanism Fee-for-Service Self-Pay Value-based Reimbursement Market Segmentation by Diagnostic Equipment Type X-ray Magnetic Resonance Imaging (MRI) Ultrasound Computed Tomography (CT) Mammography Endoscopes Others Market Segmentation by In-vitro Diagnostic (IVD) Technology • • • • • • • • • • • • • • • • • • 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. Immunoassay/immunochemistry Clinical Chemistry Molecular Diagnostics Hematology Microbiology Urinalysis Others Market Segmentation by Channel Non-Profit For-Profit State/Local Others Market Segmentation by Hospital Bed Capacity <100 100-199 200-499 >=500 Market Segmentation by Payer Type Medicare Medicaid Private Payers Others Market Segmentation by Provider Type Nursing Care Primary Care Specialty Care • • • • • • • • • • • • • • • • • • • • • • oCardiology oOncology oNeurology oGastroenterology oHematology oEndocrinology oGynecology oUrology oOthers Market Segmentation by Care Pathway Stage 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. Primary Prevention Early Management Treatment Prevention and Management of Complications Market Segmentation by Disease Stage Chronic Acute Market Segmentation by Country U.S. Healthcare Industry • • • • • • • oBy disease type oBy payment mechanism oBy diagnostic equipment type oBy IVD technology oBy healthcare channel oBy hospital bed capacity oBy payer type oBy provider type oBy care pathway stage oBy disease stage U.K. Healthcare Industry • oBy disease type oBy payment mechanism oBy diagnostic equipment type oBy IVD technology oBy healthcare channel oBy hospital bed capacity oBy provider type oBy care pathway stage oBy disease stage France Healthcare Industry • oBy disease type oBy payment mechanism oBy diagnostic equipment type oBy IVD technology oBy healthcare channel oBy hospital bed capacity 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  6. oBy provider type oBy care pathway stage oBy disease stage Germany Healthcare Industry • oBy disease type oBy payment mechanism oBy diagnostic equipment type oBy IVD technology oBy healthcare channel oBy hospital bed capacity oBy provider type oBy care pathway stage oBy disease stage China Healthcare Industry • oBy disease type oBy payment mechanism oBy diagnostic equipment type oBy IVD technology oBy healthcare channel oBy hospital bed capacity oBy provider type oBy care pathway stage oBy disease stage Japan Healthcare Industry • oBy disease type oBy payment mechanism oBy diagnostic equipment type oBy IVD technology oBy healthcare channel oBy hospital bed capacity oBy provider type oBy care pathway stage oBy disease stage Singapore Healthcare Industry • oBy disease type oBy payment mechanism 6 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  7. oBy diagnostic equipment type oBy IVD technology oBy healthcare channel oBy hospital bed capacity oBy provider type oBy care pathway stage oBy disease stage 7 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  8. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 8 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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