Health Care and Social Assistance Market Forecast 2024: Global Trends in Service Expansion

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The new report published by The Business Research Company, titled Health Care And Social Assistance Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the health care and social assistance market size has grown strongly in recent years. It will grow from $1.41 billion in 2023 to $1.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The health care and social assistance market size is expected to see strong growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.

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What Is Driving The Growth Of The Global Health Care And Social Assistance Market?

Impact Of Rising Chronic Illnesses On The Growth Of Health Care And Social Assistance Market
The rising prevalence of chronic illnesses is expected to propel the growth of the healthcare and social assistance market going forward. The rise in chronic illnesses is primarily due to an aging population and lifestyle factors such as poor diet, lack of exercise, and increased prevalence of risk factors such as obesity and smoking. Healthcare and social assistance help manage chronic diseases by providing medical treatment, preventive care, and support services to improve patient's quality of life and reduce disease complications. For instance, in January 2023, according to a report by the National Library of Medicine, a US-based biomedical library, the population of individuals aged 50 and older in the United States is projected to grow by 61.11%, rising from 137.25 million in 2020 to 221.13 million by 2050. Among this demographic, the number of people with at least one chronic disease is expected to nearly double, increasing by 99.5% from 71.522 million in 2020 to 142.66 million in 2050. Therefore, the rising prevalence of chronic illnesses will drive the growth of the healthcare and social assistance market.

What Is The Key Trend In The Global Health Care And Social Assistance Market?

Advancements In Technology-Enabled Virtual Specialty Care Enhancing Remote Healthcare Delivery
Major companies operating in the healthcare and social assistance market are focusing on developing advanced technology-enabled virtual specialty care services to enhance patient care and streamline healthcare delivery. Technology-enabled virtual specialty care services refer to remote healthcare services provided by specialists using digital tools and platforms to diagnose, treat, and manage patient conditions. For instance, in February 2022, Biofourmis, a US-based provider of virtual care and digital therapeutic solutions, launched Biofourmis Care, a technology-enabled service designed to provide virtual specialty care for patients with chronic conditions. This service utilizes a multidisciplinary team, including trained health navigators and licensed clinicians, to deliver remote care. It integrates seamlessly with patients' existing healthcare providers to ensure comprehensive care. The platform uses AI-driven algorithms to help healthcare teams optimize medication regimens and detect early signs of clinical deterioration for timely interventions.

How Is The Global Health Care And Social Assistance Market Segmented?
The health care and social assistance market covered in this report is segmented -

1) By Type: Private, Public
2) By Product And Services: Ambulatory Healthcare Services, Hospitals, Nursing Homes And Residential Facilities, Social Assistance, Other Product And Services
3) By Modes: Online, Offline
4) By Application: Yield Monitoring, Soil Monitoring, Scouting, Other Applications

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How Is The Competitive Landscape Of The Global Health Care And Social Assistance Market?
Major companies operating in the health care and social assistance market are UnitedHealth Group Inc, CVS Health Corporation, Cigna Corp, Elevance Health Inc, Centene Corporation, Kaiser Foundation Health Plan Inc, Humana Inc, Hospital Corporation of America (HCA), CommonSpirit Health, Ascension Health, Providence Health & Services, HM Health Solutions Inc., University of Pittsburgh Medical Center, Tenet Healthcare Corporation, Mayo Foundation for Medical Education and Research (MFMER), Sutter Bay Medical Foundation, Trinity Health Corporation, Quest Diagnostics Incorporated, Cleveland Clinic Foundation, Encompass Health Corp , Brookdale Senior Living Inc., CoxHealth, Practice Fusion Inc., Feeding America West Michigan, Validic Inc.

Contents Of The Global Health Care And Social Assistance Market
1. Executive Summary
2. Health Care And Social Assistance Market Report Structure
3. Health Care And Social Assistance Market Trends And Strategies
4. Health Care And Social Assistance Market - Macro Economic Scenario
5. Health Care And Social Assistance Market Size And Growth
…..
27. Health Care And Social Assistance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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