The healthcare industry is one of the largest and fast growing industries in the world, and it has a direct effect on the quality of life of patients. The term healthcare refers to diagnosis, treatment, and prevention of disease or illness, and other physical and mental impairments in humans and animals. The healthcare industry provides products and services to treat patients with curative, preventive, rehabilitative or palliative care.
The top five companies covered are NHS, Johnson & Johnson, Pfizer Inc., F.Hoffmann-La Roche Ltd. and Novartis AG. The UK’s National Health Service was the largest company in the healthcare market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global healthcare market was valued at around $9 trillion in 2017. North America was the largest region in the healthcare market in 2017, accounting for 35% market share. The USA was the largest country in the market in 2017, accounting for above 28% market share.
Digitalization of information related to patients including their medical history, diagnoses, medications, treatment plans, immunization dates, allergies, radiology images, and laboratory and test results is being made possible with Electronic Health Records (EHRs). EHRs increase patient participation, and improve diagnostic and treatment outcomes.
The healthcare market is segmented into Healthcare Services, Pharmaceuticals Drugs, Medical Equipment and Biologics.
Healthcare Services comprise hospitals, nursing and community care facilities; home healthcare services; medical and diagnostic laboratories; veterinary services and residential mental health centers. It also includes offices of dentists, physicians and healthcare practitioners.
Pharmaceuticals Drugs industry is comprised of many public and private organizations that discover, develop, manufacture and market medicines for human and animal health.
Medical Equipment market comprises surgical and medical instruments, surgical appliances and supplies, ophthalmic goods, dental laboratories, and in vitro reagents. This industry mainly aims for developing novel technologies which helps in early diagnosis and treatment of diseases.
Biologics industry comprises companies manufacturing biological products that are derived from genetically modified proteins and human genes. Biologics products include a wide range of recombinant therapeutic proteins, gene therapy tissues, somatic cells, vaccines, and allergenics.