Global Digital Health Market

The telehealth market consists of sales of telehealth services by entities (organizations, sole traders and partnerships) that are engaged in providing telehealth services for the smooth functioning of healthcare services. Telehealth is the use of electronic data and telecommunications technology to promote long-distance medical healthcare services, patient and professional health education, public health, and health management. Technologies comprise streaming media, teleconferencing, web, store-and-forward imaging, terrestrial and wireless communications. The main types of telehealth solutions include software, services, and hardware and are delivered on-premise and through the cloud. These are used by healthcare providers, patients, and payers across a range of healthcare applications including teleradiology, teleconsultation, tele-ICU, telestroke, telepsychiatry, and teledermatology. The global telehealth market is expected to decline from $83.08 billion in 2020 to $80.53 billion in 2021 at a compound annual growth rate (CAGR) of -3.06%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $218.5 billion in 2025 at a CAGR of 28.34%. The outbreak of COVID-19 propelled the growth of the telehealth market. Telehealth is recognized to be an effective tool in the fight against the coronavirus pandemic, to prevent the spread of the virus due to traveling to clinics and hospitals. Individuals, both patients and healthcare providers, are increasingly moving towards these online platforms. For instance, Teladoc Health, a virtual healthcare company based in the USA, has seen a huge increase in virtual visits, with an increase of 92% in total visits in the first quarter. Teladoc announced that the US subscription amounted to 43 million users in the first quarter of 2020, up 61% from 27 million users in the same quarter in 2019. Therefore, the outbreak of COVID-19 contributed to the growth of the telehealth market. The data security concern associated with the potential mishandling of patient data is expected to hamper the growth of the telehealth market in the coming years. The healthcare sector is digitizing business management and data management systems and is introducing new technologies to increase performance and minimize costs, but many weaknesses have been identified in this technology in several cases. The healthcare sector is regularly targeted by cyber-criminals who are searching for some tool in their armor to carry out their hacks, and several of these attacks have been successful. According to the Healthcare Protection Vision Study from CyberMDX released in February 2020, nearly 30% of healthcare delivery organizations (HDOs) have suffered a data breach in the last 12 months. Therefore, the security concerns regarding patient data restrain the growth of the telehealth market. Major companies operating in the telehealth sector are focusing on developing advanced solutions for telehealth that help remote monitoring easily. For instance, in April 2020, Royal Philips, a technology company that is engaged in healthcare, lighting, and consumer well-being markets, introduced Avalon CL Fetal and Maternal Pod and Patch for remote monitoring. The goal of the new wireless Avalon CL Fetal and Maternal Pod and Patch is to minimize unwanted physical contacts between physicians and patients, which is of quite a significance during the COVID-19 pandemic. In July 2020, BioTelemetry, Inc., a US-based remote medical technology company focused on the delivery of health information to improve quality of life and reduce the cost of care, acquired On.Demand, a remote patient monitoring (RPM) and coaching platform that is operated by Envolve People Care, Inc., for an undisclosed amount. Through this acquisition, BioTelemetry becomes an exclusive provider to Centene Medicaid members for diabetes RPM services. Envolve PeopleCare, Inc., a US-based company focused on transformative health management through education and empowerment. Major players in the telehealth market are Teladoc Health Inc, American Well, MDLive, Doctor on Demand, GlobalMed, Siemens Healthineers, Cisco Systems, Inc, Medtronic, Dictum Health, Inc, Koninklijke Philips N.V., GE Healthcare, AMC Health, Medvivo Group Ltd, Iron Bow Technologies, Telespecialists Llc, MedWeb, IMediplus Inc., Vsee, Chiron Health, Zipnosis, Allscripts Healthcare Solutions, Honeywell International Inc., Right Health, Boston Scientific Corporation, Care Innovations LLC, InTouch Technologies, Inc., Encounter Telehealth, HelloMD, SnapMD, Inc., and OpenTeleHealth. North America was the largest region in the telehealth market in 2020. The regions covered in the telehealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the telehealth market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global telehealth market is segmented - 1) By Component: Software, Services, Hardware 2) By Mode Of Delivery: Cloud-based, On-Premise 3) By Application: Teleradiology, Teleconsultation, TeleICU, Telestroke, Telepsychiatry, Teledermatology, Other Applications 4) By End-User: Healthcare Providers, Patients, Payers, Others

The healthcare e-commerce market consists of sales of healthcare products and their related services. E-commerce is also known as internet commerce or electronic commerce and refers to the sales and purchase of goods and services using the internet. It enables healthcare institutions, hospitals, clinics, and other healthcare facilities to purchase medical equipment and supplies through online channels. Healthcare e-commerce includes buying and selling medical devices and drugs and offers advantages such as convenience, lower prices & discounts, a wide range of products, replacement & refund policies, reviews & feedbacks, and quality certifications. The healthcare e-commerce market covered in this market is segmented by type into drug, medical devices. The healthcare e-commerce market is also segmented by application into telemedicine, caregiving services, medical consultation. The global healthcare e-commerce market is expected to decline from $352.23 billion in 2020 to $346.87 billion in 2021 at a compound annual growth rate (CAGR) of -1.5%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The healthcare e-commerce market is expected to reach $643.07 billion in 2025 at a CAGR of 17%. Increasing consumer spending on medical products coupled with rising internet penetration is to contribute higher demand for the healthcare e-commerce market in the upcoming years. Growing demand for healthcare products and high internet penetration is enabling people to switch to online products, which in turn are creating higher demand for online healthcare products. According to an article published in 2019, healthcare spending in the USA increased at a rate of 4% to $3.6 n in 2018 up from 3.5 trillion in 2018. Moreover, according to WeAreSocial’s Stats published in January 2020, the total internet users across the globe in 2020 increased to 4.54 billion with a growth of 298 million or 7% in comparison with January 2019. This scenario is anticipated to propel the revenues for healthcare e-commerce market over the forecast period. Stringent regulations and cybersecurity laws are expected to limit the growth of healthcare e-commerce market during the period. According to e-retailing laws and regulations in India, e-retailing companies hit hard by the policy for e-commerce in India including the healthcare e-commerce industry. Moreover, healthcare-related e-commerce platforms are mandated to make their cybersecurity infrastructure resilient and robust. The online pharmacies and telemedicine must comply with the techno legal regulations together with making their websites cyber secure. Therefore, stringent regulations imposed by various country governments are likely to restraint the growth of the healthcare e-commerce industry market over the approaching years. The launch of new healthcare applications for connecting doctors and patients directly is a leading trend driving the healthcare e-commerce market. In December 2019, XcelTech Group, a software and mobile app development company known for delivering excellence in IoT technology, and engaging mobile applications, announced the launch of a new healthcare platform, MyCare Softech Private Limited, a personalized healthcare assistance app. MyCare apps connect patients to doctors through a secure mobile application. Therefore, the launch of new healthcare applications is likely to shape the growth of the healthcare e-commerce market in the near future. In October 2019, Amazon.com, Inc., America-based multinational technology company acquired digital health startup, Health Navigator, which provides technology and services to digital health companies, for an undisclosed amount. Health Navigator will join Amazon Care group, which serve as a medical benefit for employees and helps provide care virtually, through a video visit, and with home visits if additional care is needed. This service will eliminate travel and wait time as it connects employees and their family members to a physician or nurse practitioner through live chat or video. Major players in the healthcare e-commerce market are Amazon, Exactcare Pharmacy, Flipkart Pvt. Ltd., Alibaba Group Holding Ltd., eBay Inc., Remdi SeniorCare, Lloyds Pharmacy Ltd., McCabes Pharmacy, Walgreens Boots Alliance Inc., and CVS Health. The regions covered in the healthcare e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the healthcare e-commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global healthcare e-commerce market is segmented - 1) By Type: Drug, Medical Devices 2) By Application: Telemedicine, Caregiving Services, Medical Consultation 3) By End User: Hospitals, Clinics, Others

The biotechnology services market consists of the sales of biotechnology services and related goods by entities (organizations, sole traders and partnerships) that engage in conducting research and experimental development in biotechnology. Only goods and services traded between entities or sold to end consumers are included. The global biotechnology services market is expected to grow from $150.37 billion in 2020 to $163.92 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $265.1 billion in 2025 at a CAGR of 12.8%. The biotechnology services market covered in this report is segmented by service into prevention and disease control; public engagement activities; health education and research; food biotechnology services; donor recruitment; tissue collection; cell processing and isolation; research and development. It is also segmented by industry into clinical research organizations (CROs); contract manufacturers organizations (CMOs); contract research and manufacturing services (CRAMs) and by area of application into pharmaceutical; biotechnological; academic; clinical trial; healthcare sector. The increasing pervasiveness of conditions like hepatitis B, diabetes and cancer is driving the research in biotechnology. Biotechnology uses research tools from biology and chemistry to study the genetic material of bacteria and viruses to check the disease-producing agent. Oncology research is most prominent among biopharma companies. Stem cell treatment, using a monoclonal antibody for therapy and genome sequencing is progressing in medical applications. The sales of global biotech drugs are expected to reach $284 billion in 2020. According to Data-Driven Investor, all sectors of biotech companies together spend 20% of their budget on research and development, accounting for nearly $750 billion in 2018. Therefore, the rising pervasiveness of diseases and huge expenses on R&D is predicted to contribute to the growth of the biotechnology services market. The risk related to genetic data is anticipated to limit the growth of the biotechnology services market. The biotechnological approach of transferring specially created genes for modification in characteristics to create genetically modified organisms (GMOs) has always been considered a threat to human and environmental health. According to the report of the World Conservation Union, there are numerous environmental risks likely to occur by the use of GMOs, which include interbreeding, antibiotic resistance, impact on the ecosystem, creation of new or worse viruses, competition with natural species, unpredictable and unintended effects and ethical concerns. The World Health Organization (WHO) has also set guidelines for manufacturers of GMO food. The National Bioengineered Food Disclosure Standard has been implemented in the USA from January 2020 making it mandatory to label all foods containing genetically engineered items to be labeled as "bioengineered". Thus, the risk associated with genetically modified items is negatively impacting the growth of the biotechnology services market. Collaborations and partnerships between industry players are a growing trend in the field of biotech services. In Dec 2019, Interpace Pharma, a subsidiary of Interpace Biosciences, dealing in pharmacogenomics testing, genotyping and biorepository services, collaborated with Genecast Biotechnology Co. Ltd for jointly developing, promoting, and offering translational studies and clinical trial solutions to the industry. This partnership is expected to benefit pharmaceutical and biotech companies to accelerate their biomarker-driven drug development and precision medicine. Genecast is a Chinese company providing a wide range of diagnostic services to pharmaceutical and biotech companies. In May 2018, Illumina, a US-based biotechnology company serving in research, clinical and applied markets, acquired Edico Genome for an undisclosed amount. The acquisition is expected to reduce sequencing data acquisition. Edico Genome's Bio-IT platform DRAGEN uses field-programmable gate array (FPGA) technology with software algorithms and helps in reducing data footprint and time for results. The DRAGEN platform complements Illumina's sequencing portfolio and helps the customer in reducing investment in IT infrastructure and improve overall efficiency. Edico Genome is an American company dealing in the field of genomics. The major players covered in the global biotechnology services market are Novartis, Fisher BioService, Pfizer, Novo Nordisk, BioAlps, Precision for Medicine, Sartorius, Aldevron. The countries covered in the global biotechnology services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global biotechnology services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global biotechnology services market is segmented - 1) By Service: Prevention and Disease Control, Public Engagement Activities, Health Education and Research, Food Biotechnology Services, Donor Recruitment, Tissue Collection, Cell Processing and Isolation, Research and Development 2) By Industry: Clinical Research Organizations (CROs), Contract Manufacturers Organizations(CMOs), Contract Research and Manufacturing Services (CRAMS) 3) By Area of Application: Pharmaceutical, Biotechnological, Academic, Clinical Trial, Healthcare Sectors

The medical billing outsourcing market consists of sales of medical billing outsourcing services by entities (organizations, sole traders and partnerships) that provide medical billing outsourcing services in which a healthcare provider hires a medical billing service provider outside their practice to do all the billing works. Only goods and services traded between entities or sold to end consumers are included. The global medical billing outsourcing market is expected to grow from $8.415 billion in 2020 to $9.528 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.939 billion in 2025 at a CAGR of 15%. The rising need for error minimization contributed to the growth of the medical billing outsourcing market. It is estimated that, in the US, 80% of medical bills contain errors. For instance, Equifax, a credit agency firm, found in its audit that the hospital bills ranging above $10,000 have an average error amount of $1,300. It is also estimated that doctors lose around $125 billion each year due to poor billing practices in the USA. The rising need for error minimization and optimization of the billing process drove the medical billing outsourcing market. The variable cost charged in the medical billing services by the service provider is expected to limit the medical billing outsourcing market. According to the Medical Billing Service Review, there is a price for every service provided by medical billing service providers. The charge on the billing services is a percentage ranging between 3% to 10% per bill indicating more the number of patients, more the hospital or clinic should pay to the service providers. The variable cost in the medical billing services has a negative impact on the medical billing outsourcing market. The medical billing service providers are expanding their service through cloud-based medical billing software and Electronic Health Record (EHR) services. Cloud-based medical billing software provides more security with the patient details compared to the alternatives and companies are launching cloud-based software to provide enhanced security to their clients. For instance, in 2018, eClinicalWorks, a medical billing service provider, launched the cloud-based platform for revenue cycle. In June 2020, R1 RCM, a Chicago-based healthcare revenue management cycle company serving hospitals and physician groups, agreed to acquire Cerner RevWorks for a deal amount of $30 million. The acquisition is expected to extend the comprehensive revenue cycle capabilities of R1 and help drive sustainable financial improvements for healthcare providers and to enhance their patients’ overall experience. The major players covered in the global medical billing outsourcing market are Experian Information Solutions, Cerner, Kareo, GE Healthcare, Genpact, Quest Diagnostics, McKesson, EClinicalWorks, The SSI Group, HCL, Allscripts, R1 RCM, Accretive Health. The countries covered in the global medical billing outsourcing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global medical billing outsourcing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global medical billing outsourcing market is segmented - 1) By Service: Front End, Back End 2) By End User: Hospitals, Physician Offices 3) By Component: In-house, Outsourced

The medical and diagnostic laboratory services market consists of sales of medical and diagnostic laboratory services and related goods by entities (organizations, sole traders and partnerships) that provide diagnostics tests for various diseases. This industry includes CT scan centers, X-ray centers and other clinics that undertake disease diagnosis. The medical and diagnostic laboratory services market is segmented into medical laboratory services and diagnostic imaging centers. The global medical and diagnostic laboratory services market is expected to grow from $115.89 billion in 2020 to $125.53 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $157.45 billion in 2025 at a CAGR of 6%. North America was the largest region in the global medical and diagnostic laboratory services market, accounting for 49% of the market in 2020. Asia Pacific was the second largest region, accounting for 23% of the global medical and diagnostic laboratory services market. Africa was the smallest region in the global medical and diagnostic laboratory services market. The rise in sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally, by the year 2020. Tests to diagnose these diseases include HbA1c tests for monitoring diabetes, biopsies, tumor marker tests, bone scans, MRI and CT scans for diagnosis of various cancers, electrocardiograms, chest X-rays, cardiac CT scans and stress test for detection of cardiovascular diseases. The increase in the prevalence of lifestyle diseases will increase the demand for tests to diagnose these diseases and thus will drive the medical and diagnostic laboratory services market during the forecast period. The medical and diagnostic laboratory services market is expected to limit by the rising prevalence of self-care diagnostic equipment. These tools can be used by patients without assistance from medical personnel, to diagnose particular disabilities or disorders. Common self-care diagnostic devices include glucose monitoring devices, blood pressure monitoring devices, sleep apnea monitors and temperature monitors. The ease of use of self-care devices has increased demand for them during the last decade and is expected to increase it further during the forecast period. Some virtual applications are also aiding in diagnosis of certain health conditions. For instance, iPhone is working on an IOS accessory called Cue, which can be used as a home diagnostic kit. Self-care diagnostics is expected to have a negative impact on traditional medical and diagnostic laboratory services market during the forecast period by reducing the need for laboratory testing for some basic tests. Medical and diagnostic laboratories are using biomarkers to measure health parameters associated with individual wellness. The health and wellbeing of individuals can be measured by using biomarkers to assess factors behind sleep disorders and symptoms of stress. Biomarkers such as cortisol, testosterone, and secretory IgA can indicate changes in immune system relating to physical and mental conditions. This can be used by physicians to know the causative factors behind such conditions. This is a premium service primarily targeted at wealthy individuals and senior employees of corporations. The major players covered in the global medical and diagnostic laboratory services market are Quest Diagnostics Inc, Sonic Healthcare Limited, Eurofins, OPKO Health Inc, Medical And Diagnostic Laboratory Services. The countries covered in the global medical and diagnostic laboratory services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global medical and diagnostic laboratory services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global medical and diagnostic laboratory services market is segmented - 1) By Type: Diagnostic Imaging Centers, Medical Laboratory Services 2) By Application: Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others 3) By End User Gender: Male, Female 4) By Type of Expenditure: Public, Private Subsegments Covered: Computer Tomography (CT-Scan) Centers, Medical Radiological Laboratories, Dental or Medical X-Ray Laboratories, Ultrasound Imaging Centers, Magnetic Resonance Imaging (MRI) Centers

The ambulance services market consists of sales of ambulance services and related goods by entities (organizations, sole traders and partnerships) that provide ambulance services for emergency access to healthcare in response to emergency calls, urgent doctor admissions and emergency hospital transfers. The ambulance services market is segmented into ground ambulance services; air ambulance services and water ambulance services. The global ambulance services market is expected to decline from $76.17 billion in 2020 to $69.25 billion in 2021 at a compound annual growth rate (CAGR) of -9.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $87.69 billion in 2025 at a CAGR of 6%. Western Europe was the largest region in the global ambulance services market, accounting for 34% of the market in 2020. North America was the second largest region, accounting for 34% of the global ambulance services market. Africa was the smallest region in the global ambulance services market. Changes in lifestyles and an increase in sedentary jobs are transforming the disease profile of the world population demanding for ambulance services. Around 292,000 adult in-hospital cardiac arrests occur each year. Change in lifestyle increase the incidence of cardiac arrests and thereby drive the demand for ambulance services. Many federal and state governments are either offering subsidized or free healthcare services to their citizens. Since most of the governments are offering quality healthcare services for free or subsidized rates, patients tend to opt for government healthcare services thereby, limiting the scope for private healthcare service providers. For example, the NHS (National Health Service) of the UK offers free healthcare services to all legal residents and visitors. Going forward, federal and state provisions are expected to be a major restraint on the healthcare services market. 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. Adoption of EHRs by medical practitioners and healthcare centers improves medical practice management by increasing practice efficiencies. It also aids in cost savings. The major players covered in the global ambulance services market are Acadian Ambulance Service, Air Methods Corporation, AirMed International LLC, Envision Healthcare, Falck A/S. The countries covered in the global ambulance services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global ambulance services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global ambulance services market is segmented - 1) By Type: Ground Ambulance Services, Air Ambulance Services, Water Ambulance Services 2) By End User Gender: Male, Female 3) By Type of Expenditure: Public, Private 4) By Ownership: Chained, Standalone

The home health care and residential nursing care services market consists of sales of home health care and residential nursing care services and related goods by entities (organizations, sole traders and partnerships) that provide home health care and residential nursing care, including personal services, counselling services, vocational therapies, rest home services, social services, and nutritional services. The home health care and residential nursing care services market is segmented into home health care providers; nursing care facilities; orphanages & group homes; and retirement communities. The global home health care and residential nursing care services market is expected to grow from $957.56 billion in 2020 to $1007.32 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1273.62 billion in 2025 at a CAGR of 6%. Western Europe was the largest region in the global home health care and residential nursing care services market, accounting for 43% of the market in 2020. North America was the second largest region, accounting for 33% of the global home health care and residential nursing care services market. Africa was the smallest region in the global home health care and residential nursing care services market. Access to health care services is expected to improve in developing countries, driving the nursing care market in those geographies. Effective implementation of health plans is the core reason for the improvement in healthcare access in many developing countries such as India, China and Latin American countries. Some country-specific health reforms which were set to improve healthcare access include China’s Urban Resident Basic Medical Insurance and New Rural Cooperative Medical Insurance schemes, Brazil’s Unified Health System and Mexico’s Popular Health Insurance. Improvement in healthcare access is expected to have a positive impact on the growth of the nursing care market. The nursing care market is expected to be limited by a shortage of trained doctors, consultants, nurses and caregivers in both developed and developing countries. Developing countries face a high shortage of healthcare professionals as demand for nursing care rises. For example, according to the World Health Organization (WHO), as of 2018, there was a shortage of around 4.3 million workers in the global healthcare workforce, which included nurses and community healthcare workers. Developed nations are also experiencing a similar crisis. According to AAMC’s report, the USA is currently facing a shortage of doctors, especially primary care doctors. According to the World Bank, the country has only 2.5 physicians per 1000 people. This is mainly due to the lack of right skills, and lack of education and right work experience among the candidates. Going forward, the shortage of healthcare personnel is likely to continue to act as a restraint on the nursing care market. The nursing care industry is adopting big data technologies to monitor patients’ health and offer appropriate care. Big data is large amounts of data that can be analyzed to gain insights and drive decision-making. Big data allows the nursing care providers to access to a significant amount of data that can be used to aid health care professionals to identify future health risks and suggest suitable remedies. Home care providers can also use this data to identify the irregularities in the treatment of patients and improve the effectiveness of the treatment. For example, MJHS, a leading home care, palliative and hospice provider in the US has adopted eCaring, a big data technology solution, to monitor a patient’s health every hour and track individual patient behaviors and health outcomes. The major players covered in the global home health care and residential nursing care services market are Genesis Healthcare, Kaiser Permanente, Brookdale Senior Living, Kindred Healthcare, The Ensign Group, Inc. The countries covered in the global home health care and residential nursing care services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global home health care and residential nursing care services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global home health care and residential nursing care services market is segmented - 1) By Type: Home Health Care Providers, Retirement Communities, Nursing Care Facilities, Orphanages & Group Homes 2) By End User Gender: Male, Female 3) By Type of Expenditure: Public, Private Subsegments Covered: Home Health Care Agencies, Visiting Nurses, In-Home Hospice Care Services, Assisted Living Facilities Without On-Site Nursing Care, Assisted Living Facilities For The Elderly Without Nursing Care, Continuing Care Retirement Communities, Rest Homes Without Nursing Care

The healthcare services market consists of sales of healthcare services and related goods by entities (organizations, sole traders and partnerships) that provide human healthcare services. This industry includes establishments that provide services such as medical and diagnostic laboratory services, dental services, nursing care, residential substance abuse and mental health facilities and other healthcare services.