Healthcare Services Market to Grow by USD 6.26 Trillion from 2024 to 2028, Driven by Rising Chronic Disease Prevalence, Report on AI's Impact - Technavio

NEW YORK, Feb. 14, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The healthcare services market and it is set to grow by USD 6.26 trillion from 2024 to 2028. However, the growth momentum will progressing at a CAGR of 8.73% during the forecast period, according to Technavio. The healthcare services market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  Apollo Hospitals Enterprise Ltd, athenahealth Inc., Community Health Systems Inc., CVS Health Corp., DaVita Inc., Dr Lal PathLabs Ltd., Expedient Healthcare Marketing Pvt. Ltd., Fresenius Medical Care AG and Co. KGaA, Genesis Healthcare Inc., iHealth Labs Inc., Max Healthcare Institute Ltd, Mayo Foundation for Medical Education and Research, McKesson Corp., OMH HealthEdge Holdings LLC, Optum Inc., Quest Diagnostics Inc., Sonic Healthcare Ltd., Universal Health Services Inc., and West Suffolk NHS Foundation Trust are some of the major market participants -. To know about the vendor offerings -Request a sample report

Healthcare Services Market 2024-2028: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The healthcare services market report covers the following areas:

• Healthcare Services Market Size
• Healthcare Services Market Trends
• Healthcare Services Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The healthcare services market is fragmented, and the degree of fragmentation will accelerate. The increasing prevalence of chronic diseases will offer immense growth opportunities. However, the Increasing healthcare costs will hamper the market growth

Healthcare Services Market 2024-2028: Drivers & Challenges

Chronic diseases, including cardiovascular diseases (CVDs), cancer, chronic obstructive pulmonary disease (COPD), and type-2 diabetes, are major health concerns worldwide, accounting for 74% of all global deaths according to the World Health Organization (WHO). These diseases are often caused by modifiable risk factors such as high blood pressure, high blood cholesterol, obesity, unhealthy diets, and tobacco use. For instance, CVDs are the leading cause of non-communicable disease (NCD) deaths, claiming 17.9 million lives annually. It is essential for healthcare services to focus on prevention and early detection to reduce the burden of these diseases. Healthcare providers can offer education on healthy lifestyle choices, regular screenings, and effective treatment options to help manage and prevent chronic diseases.

The global healthcare services market faces substantial challenges due to escalating healthcare costs. This trend negatively affects various aspects, including access to care and service quality. For instance, US healthcare spending grew 4.1% in 2022, reaching approximately USD4.5 trillion or USD13,493 per person (Centers for Medicare and Medicaid Services). This increase in costs makes it harder for individuals and families to afford essential medical treatments and services. Consequently, access to care becomes limited, potentially impacting overall healthcare system sustainability.

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This healthcare services market report extensively covers market segmentation by  

• End-user
• Adult Care
• Geriatric Care
• Pediatric Care
• Service
• Hospitals And Clinics
• Primary Care Services
• Long-term Care Services
• Home Healthcare
• Others
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

1.1 Adult care-  The adult care segment in the healthcare services market caters to the unique healthcare needs of adults, ranging from young adults to older individuals. This segment includes preventive screenings, chronic disease management, acute care for illnesses and injuries, behavioral health services, and women's health services. Adult care providers collaborate to deliver comprehensive care, including primary care physicians, specialists, nurses, therapists, and allied health professionals. The adult care segment addresses the growing healthcare needs of the global population, including the rising prevalence of chronic conditions, mental health disorders, lifestyle-related illnesses, and age-related health concerns. Providers focus on preventive care, early detection, and personalized treatment plans to optimize health outcomes and improve quality of life. Advancements in medical research, technology, and treatment modalities have enhanced adult care services, enabling tailored treatments, precision medicine, and minimally invasive procedures. Digital health solutions, telemedicine, and electronic health records facilitate improved care coordination, patient engagement, and access to services. The adult care segment is evolving to meet changing healthcare needs, emphasizing holistic care approaches, patient-centered care models, and shared decision-making. Healthcare organizations promote health and wellness initiatives, lifestyle modifications, and patient education to empower adults to manage their health and preventive care. These factors are expected to drive the growth of the adult care segment in the global healthcare services market.

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Healthcare Services Market 2024-2028: Key Highlights

• CAGR of the market during the forecast period 2024-2028
• Detailed information on factors that will assist healthcare services market growth during the next five years
• Estimation of the healthcare services market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the healthcare services market across North America, Europe, Asia, and Rest of World (ROW)
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of healthcare services market vendors

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio