Usage of Digital Tools in the healthcare market

The global healthcare services market, a part of the healthcare industry, grew at a compound annual growth rate (CAGR) of around 4% during the historic period. The healthcare industry showed a steady growth. The growth is mainly due to increased access to healthcare services and rise in disposable income drove the healthcare services market in China and India. As the coverage thereafter reached a higher proportion of the population it positively impacted the healthcare services market growth during this period.

In the forecast period, the global healthcare services market size is expected to be over $8 trillion by 2021, growing at a CAGR of nearly 5%. This is expected due to changes in lifestyles and an increase in sedentary jobs are transforming the disease profile of the world population from communicable disease to non-communicable disease such as cancer, diabetes and cardiovascular diseases. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global healthcare services market in the future. 

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Digital technology has become important for hospitals and doctors to deliver quality care. Digital tools such as telemedicine, apps, and portals for patients and doctors are making healthcare services more efficient and cost-effective.

Major companies in the healthcare services market, offering digital technology include National Health Service, DaVita, Mayo Clinic, LabCorp, Johns Hopkins Medicine, Quest Diagnostics, and Cleveland Clinic.

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Digitalization Has Reduced The Distance Between Doctors And Patients

Digitalization of medical records through electronic health records (EHRs involves the conversion of paper-based medical records into electronic formats. Digitalization of information related to patients including their medical history, diagnoses, medications, treatment plans, allergies and laboratory and test results is being made possible with EHRs. They increase patient participation and improve diagnostic and treatment outcomes by improving the efficiency of services provided by physicians.

THE BUSINESS RESEARCH COMPANY EXPECTS THE PHYSICIANS AND OTHER HEALTH PRACITIONERS MARKET TO GROW TO $3 TRILLION BY 2021

North America was the largest region in the physicians and other health practitioners market in 2017, accounting for two-fifth of the market share.

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According to The Business Research Company’s Consultant, Nitin Gianchandani, electronic prescribing or e-prescribing (e-Rx) is the computer-based electronic generation, transmission and filling of a medical prescription which allows a physician, pharmacist, nurse practitioner, or physician assistant to electronically transmit a new prescription or renewal authorization to a community or mail-order pharmacy. E-prescribing is beneficial to physicians as it reduces errors due to handwritten prescriptions. The E-prescribing trend provides scope for improving physicians and other health professionals’ service quality.

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Kaiser Permanente was the largest player in the physicians and other health practitioners market, with revenues of $64.6 billion in 2016. One of Kaiser Permanente’s growth strategy was the acquisition of Group Health Cooperative in 2015 to tackle rising health care costs and implement powerful technologies to serve their members.

Health practitioners are professionals trained to provide care and treatment services. Physicians, also called doctors, are healthcare practitioners licensed to practice medicine, including diagnosing illnesses and prescribing treatments. Other health practitioners include physician assistants, nurses, midwives, dietitians, therapists, physical therapists, operating department practitioners, emergency medical technicians and paramedics. Most health practitioner roles require individuals to have specific qualifications to be authorized to practice.

Physicians And Other Health Practitioners Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.

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Aging Population Drives The Physicians And Other Health Practitioners Market (Companies Included: Kaiser Permanente, National Health Service, UPMC, Mayo Clinic, John Hopkins)

Health practitioners are professionals trained to provide care and treatment services. Physicians, also called doctors, are healthcare practitioners licensed to practice medicine, including diagnosing illnesses and prescribing treatments. Other health practitioners include physician assistants, nurses, midwives, dietitians, therapists, physical therapists, operating department practitioners, emergency medical technicians and paramedics. Most health practitioner roles require individuals to have specific qualifications to be authorized to practice.

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The global physicians and other health practitioners market has shown moderate growth in the past years with a CAGR of just over 4%. The year 2017 recorded highest ever market value in this industry as per TBRC’s inhouse consultants.

TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.

The report also shows the physicians and other health practitioners market to grow at a higher CAGR 

by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.

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The aging population profile of most countries contributed to the growth of the pharmaceuticals market. During the historic period, the number of people globally over the age of 65 grew from below 450 million to 601 million, an increase of 33%, according to estimates based on Population Reference Bureau data. As physicians and other health practitioners are more popular and important for older people, it drove the market during this period. This trend is expected to continue throughout the forecast period.

TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.

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Companies included in the report are Kaiser Permanente, National Health Service, UPMC, Mayo Clinic and John Hopkins.

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The Global Physicians And Other Health Practitioners Market Is Valued At Over $1 Trillion In 2017 According To TBRC’s Latest Report

Health practitioners are professionals trained to provide care and treatment services. Physicians, also called doctors, are healthcare practitioners licensed to practice medicine, including diagnosing illnesses and prescribing treatments. Other health practitioners include physician assistants, nurses, midwives, dietitians, therapists, physical therapists, operating department practitioners, emergency medical technicians and paramedics. Most health practitioner roles require individuals to have specific qualifications to be authorized to practice.

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The major reason why the global physicians and other health practitioners market is valued at over $1 trillion in 2017 is the increase in healthcare access. Access to physicians and other health practitioners has improved in the developing countries.

The global physicians and other health practitioners market in The Business Research Company’s report is segmented into specialist doctors, primary care doctors, physical therapists, optometrists, chiropractors and podiatrists. While the first two segments account for more than 85% of the market share, the remaining is attributed to the physical therapists, optometrists, chiropractors and podiatrists segments.

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The USA was the largest country in the physicians and other health practitioners market in 2017, accounting for two-fifth of the market share. This was the result of the economic growth of the country. The USA was followed by China and Japan.

Kaiser Permanente was the largest company in the global physicians and other health practitioners market, followed by National Health Service and UPMC. Kaiser Permanente is one of the USA’s largest not-for-profit health organizations. The company is headquartered in Oakland, California.

About The Business Research Company.

The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.

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The Global Healthcare Services Market Is Valued At $7 Trillion In 2017 According To TBRC’s Latest Report

Healthcare services deal with medical and remedial care service. Healthcare services also include furnishing medicine, medical or surgical treatment, nursing, hospital service, dental service, optometrical service and other complementary health services.

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The market is valued at around $7 trillion in 2017 because of the economic growth, technological advancements, changes in lifestyle and improved survival and quality of life.

In the report, the global healthcare services market is divided into seven segments, namely, hospitals and outpatient care centers, physicians and other health practitioners, home health care and residential nursing care services, dental services, medical and diagnostic laboratory services, residential substance abuse and mental health facilities and veterinary services.

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The USA was the largest country in the healthcare services market in 2017, accounting for more than one-fourth of the market share. China and Japan followed the USA as the next largest countries in the market.

The healthcare services market is fragmented with a number of small service organizations. The top five competitors in the market made up close to 3% of the total market share in 2017. NHS was the largest competitor of the market, followed by Davita, Mayo Clinic, Laboratory Corporation of America and Cleveland Clinic. National Health Service the publicly funded health care system created under the UK’s National Health Service Act. The organization was launched in 1948. It has more than 1.5 million employees. The NHS hospitals provide extensive health care services and outpatient care. The primary services of NHS include antenatal screening, routine screenings, and treatment for long-term conditions include transplants, emergency treatment and end-of-life care.

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The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.

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