Market Analysis - Journal of Public Health Policy and Planning (2019) Volume 3, Issue 4
Medical Summit and Expo on Healthcare and Medicine- Market Analysis
Dr. Ibrahim Mashaal
El-Mahalla General Hospital, Egypt, E-mail: [email protected]
Global health care expenditures are expected to increase from 2.4% to 7.5% between 2015 and 2020 that is equal to the market value of US $7 trillion to the US $8.7 trillion respectively.
The requirement for healthcare is set to grow over the medium to long-term. Between 2015- 2050, the total global population will grow by 7.3 billion to 9.7 billion.
Population growth is currently at 0.8% per annum for 2010 to 2020, which is faster than any other decade in recent history.
World Health Day is celebrated on April 7 which was introduced by the World Health Organization in order to concrete steps to advance healthcare everywhere and can access essential quality health services without facing any financial hardship. Percentage of Gross Domestic Product spent on world healthcare will also increase slightly, from an estimated percentage of 10.4% in 2015 to 10.5% in 2020.
By the year of 2020, 50% of global health care expenditures about $4 trillion will be spent on three leading causes of death which includes Cardiovascular diseases, Cancer and Respiratory Diseases.
The number of diabetic patients is expected to rise from the present 415 million to 642 million by the year 2040.
Globally, HIV-AIDS continues to affect 36.9 million people, around 70% of people living in Sub-Sahara, Africa. Zika virus and associated improvements in microcephaly are major the threats in Latin America.
Prevalence of dementia is projected to increase in every part of the world and is anticipated to double every 20 years, reaching 74.7 million by 2030.
Ageing population (>65 years old) will increase by 8%, from 559 million in 2015 to 604 million in 2020. A growing market phase is demanding unscheduled access to primary care services inconsiderately of health system or pre-existing physician relationship. This population phase has given rise to a replacement set of "on demand" primary provision channels. These on demand delivery channels have robust growth projections (ranging from 6.5 to thirty four p.c annually) over future many years making a chance or threat for the standard medical aid suppliers and therefore the health systems. Health 2020 is an event planned for aid specialists to support the dissemination and utilization of analysis disclosures on health care. The Theme of the meeting is "Comprehensive Forum for Furtherance of Health and Medicine".
The gathering invitations speakers from social healthcare Universities, clinical analysis associations, informative associations and aid ventures to share their investigation experiences on all elements of this speedily developing field and thus, giving a boast of the most recent healthcare Techniques.
As per estimates, the care market is projected to grow at 12.0% p.a. to US$ 69.4 billion by 2018 from associate degree calculable US$ 39.4 billion in 2013. patient and patient markets are expected to account for seventy nine and twenty first, severally, of the market size. UK is projected to stay the most important GCC market. UK are expected to be the quickest growing markets; going forward. The demand for variety of hospital beds is predicted to be 115,544 in 2018, associate degree addition of 11,241 beds from 2013, that is in line with the expected offer gazing the amount of comes within the pipeline. The medical education market is about to boom within the close to future thanks to major advances created within the field of life science, the billowing incidence of chronic sicknesses, increased incidences of various kinds of cancer, technological innovations, and additionally the frequent introduction of recent courses.
The IMF estimates that the region‘s population would cross the fifty million mark by 2020, providing impetus to the consumption of care services. Rising financial gain levels and inactive lifestyles have semiconductor diode to a better prevalence of obesity and polygenic disease resulting in a requirement for specialised care services. GCC population within the cohort of sixty five and on top of is predicted to surge from 1.2 million in 2015 to 14.2 million in 2050, driving demand for care services. Also, infant death-rate within the GCC improved from 110 per 10,000 live births in 2000 to seventy eight in 2012. whereas growth within the region‘s payment outpaces the expansion within the international market, the insurance penetration remains one in all the lowest within the world.
The growing invasion of chronic diseases along with the increasing awareness about the consequences of life-threatening diseases is estimated to drive the global chronic disease management market growth in the future. Chronic diseases, such as cardiovascular disorder, cancer, and neurological disorder, are creating the demand for solutions that can deliver the services to improve patient health at a relatively lower and affordable cost.
World-wide health care IT Market is approximated to achieve $382 billion by 2024, growing at a CAGR rate of 13.4% between 2016 and 2024. Through advanced software’s, IT services in health care are mostly used to support the database of patients. The complete patient database is recorded by the software in a way that can be searched immediately in an emergency. Increasing consumer and customer awareness towards enhanced health care facilities has increased the growth of the healthcare information technology market. The rising tendency of home health care among patients has also increased the selection of IT services.
Health spending per capita in the United States is much higher than in other countries at least $2,535 dollars, or 51%, higher than Norway, the second largest per capita spender. Furthermore, the United States spends nearly double the average of $3,923 for 15 countries.
While a rising GDP per capita is associated with elevated health spending, the United States is an outlier, spending more than similarly wealthy countries.
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