Summary
Major players in the voluntary health organizations market are Mercy Ships, American Heart Association, Angelwood, Valley Aids Council, March of Dimes, Amyotrophic Lateral Sclerosis Association, American Lung Association, Muscular Dystrophy Association, Center Industries, AccessCNY, American College Of Cardiology Foundation, American Diabetes Association, Arizona Partnership For Immunization, Arc Of Nepa, Acadiana Concern For Aids Relief, Mains’l California, Maui Family YMCA, Parkview Huntington Family, and Young Men’s Christian Association.
The global voluntary health organizations market will grow from $40.37 billion in 2022 to $42.61 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The voluntary health organizations market is expected to grow to $51.39 billion in 2027 at a CAGR of 4.8%.
The voluntary health organization market consists of revenues earned by entities that are engaged in raising funds for health-related research such as heart, cancer, diabetes prevention, health education, and patient services.Voluntary health organizations include establishments such as disease awareness fundraising organizations, health research fundraising organizations, and voluntary health organizations.
The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Voluntary health organizations are engaged in raising funds for health-related research such as disease prevention (heart disease, cancer, diabetes, and others), health education, and patient services. Voluntary health agencies are non-profit organizations with the aim of combating a specific disease, disability, or set of diseases and disabilities or improving and protecting the health of a certain group of people.
Asia Pacific was the largest region in the voluntary health organizations market in 2022.North America was the second largest region in the voluntary health organizations market.
The regions covered in the voluntary health organizations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of organizations in voluntary health organizations are multilateral organizations, bilateral single government agencies, and non-governmental organizations.The multilateral organization is funded by three or more nations to work on issues that affect all of the countries involved.
The various mode of operation involves online donation and offline donation. The different organization locations include domestic and international.
Increased voluntary contributions are expected to drive the demand for the voluntary health organizations market.Voluntary health organizations generate their revenue primarily from voluntary contributions from the general public, which are to be used for general or specific purposes that are connected with health, welfare, or community services.
For instance, the total voluntary contributions to UNICEF in 2020 exceeded $7 billion. The public sector, including government, inter-governmental, inter-organizational partners, and Global Program Partnerships contributed the largest share, $5.45 billion to UNICEF in 2020. Therefore, a growing number of voluntary contributions from the general public are predicted to fuel the demand for the voluntary health organizations market.
High administrative costs associated with voluntary health organizations are limiting the growth of the voluntary health organizations market.Voluntary health organizations require funds to keep their organization running.
A percent of the amount received through funding is spent on staff, IT services (associated with proper infrastructure and operations), building utilities, legal services, other office supplies, and maintenance.Each organization allocates a percentage to administrative costs.
According to the Center for American Progress’s press release, in the USA, the administrative spending for non-profit institutions was 25% of the total spending of the institution.However, in some cases, the high administrative costs indicate fraud or unwarranted expenditures by some organizations.
Most donors would prefer to see their philanthropic donations go directly to an organization’s core mission, rather than to administrative expenses, and such high and unwarranted expenditures would affect their willingness to donate. Therefore, the high administrative costs associated with voluntary health organizations are likely to hinder the voluntary health organizations’ market growth.
The countries covered in the voluntary health organizations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The voluntary health organizations market research report is one of a series of new reports that provides voluntary health organizations market statistics, including voluntary health organizations industry global market size, regional shares, competitors with a voluntary health organizations market share, detailed voluntary health organizations market segments, market trends and opportunities, and any further data you may need to thrive in the voluntary health organizations industry. This voluntary health organizations market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
