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Global Healthcare Industry Overview 2018

Aug 13, 2018

Healthcare Industry Overview 

The healthcare industry overview unveiled by a recent analysis lays down some interesting facts which might force you to think twice before making investments in this market. Today, the healthcare industry is one of the fastest evolving sectors globally. Do you ever wonder why? This is due to the fact that today health care is looked upon not as a crisis that has to be dealt with but as the way of life. The healthcare industry overview findings reveal that this industry is going through a rapid transformation, and to succeed in this environment of competition, there is a need for the organizations to make significant investments in technologies to cut down costs and improve medical care. Before digging into the global healthcare industry overview, let’s figure out what health care is all about.

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What Does Health Care Mean? 

To provide medical products, equipment, and services to protect, extend, or increase the quality of patients’ lives can be broadly termed as healthcare. Key findings from recent healthcare industry overview studies show that this industry encompasses a wide network of interrelated providers who focus only on the health outcome of patients.

Global Healthcare Industry Overview

Today, the healthcare industry is providing colossal business opportunities worldwide. Do you ever imagine why? This is because of the rising health concerns among consumers. Here is a brief synopsis of the healthcare industry overview that has been realized by the experts globally:

  • Spending on healthcare typically accounts for approximately 10% of the GDP in the developed nation
  • This spending is more on treatment than prevention in almost all the countries
  • Although awareness related to healthcare is rising with governmental and non-governmental organizations’ intervention still majority population all over the world is facing the problem of obesity and overweight
  • There is an increase in annual visits by doctors and more employers are encouraging healthy lifestyles through incentive programs like gym memberships
  • Opportunity for green industry franchise has also expanded its roots
  • Organic restaurant and sustainable food practices business have also sprung up
  • Entrepreneurs are on the way to finding solutions to meet the needs of an aging population
  • Sedentary lifestyles and uncontrolled eating habits are leading to a rapid increase in the risk of cardiovascular diseases

Recent healthcare industry overview reports reveal that despite knowing the right way to live, there is a long way to go for all of us, which, in short, means that the demand for healthcare services will keep on increasing. There are several healthcare industry trends that are working as a support system for this rise in demand. Some of the top healthcare industry trends are listed below:

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Top Healthcare Industry Trends 2018

Telemedicine

Telemedicine is a great way to mitigate the gap between physicians and patients. The need to reduce healthcare costs and the growing number of the aging population are also important factors propelling the rise in telemedicine services. This can help the researchers in deducing a completely different healthcare industry overview in the years to come.

Artificial Intelligence

Recent information obtained from healthcare industry overview reports show that AI is expected to be one of the important healthcare industry trends in the upcoming years. This is driven by the demand for precision medicine and cost reduction. AI is capable of transforming any area of healthcare, such as workflow tasks of the hospital and diagnosing health conditions, and boost efficiency.

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Robotics

Robots are playing the lead role in bringing about a revolution in the medical world. There is a dire need to improve medical productivity and reduce routine errors. This leads to an increase in the demand for healthcare assistance and automation robots.

IoT and Wearables

Today, patients are getting more involved in managing their own personal health. This has been even more efficiently facilitated by the advent of wearables and connected devices, which, today, have become one of the rapidly emerging healthcare industry trends, i.e., according to recent healthcare industry overview reports. It helps in making healthy lifestyle choices and overcoming specific diseases like asthma, COPD, pain management, and heart arrhythmia.

Blockchain

To mitigate the security-related risks associated with sharing information, especially in healthcare, blockchain technology is getting more and more attention and has become one of the famous healthcare industry trends today. Many reports that focus on the healthcare industry overview actually highlight the fact that blockchain technology will be one of the biggest disruptors in the healthcare industry.

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