Global Healthcare Industry
The global healthcare services market is forecast to reach $3 trillion by 2015, according to research from Global Industry Analysts. Investment in sectors such as home healthcare, healthcare IT and telehealth are expected to continue fuelling market expansion. Due to the world’s aging population, the demand for home healthcare is likely to continue climbing over the years to come.
The healthcare services industry is labor intensive and overburdened in many regions, making telehealth and healthcare IT attractive options. With medical technologies continually developing, these options are proving beneficial to patients and the overall healthcare system.
The global healthcare services market is impacted by government legislation and incentives. Spending in the sector continues to climb, partly due to the availability of new drugs, higher health insurance premiums and advanced technology services. Demographic profiles also play an important role in the industry, with demand created by lifestyle-related medical conditions. In addition, an aging population means that age-related health conditions continue to create demand.
Spending on home healthcare is forecast to continue rising as elderly and terminally ill patients opt for the ease of receiving healthcare at home rather than in hospitals or clinics. As with many other industry sectors, information technology is also affecting the area of healthcare services, with many healthcare bodies concentrating their efforts on setting up or enhancing their electronic medical records systems, electronic health records and personal health records.