Healthcare Industry in the U.S. to Witness Fastest Growth, Progressing at a CAGR of 6.6% in Coming Years: P&S Intelligence
According to the market research report published by P&S Intelligence, the report Healthcare Ecosystem – Insights provides analysis of the healthcare industry in the U.S., Germany, U.K., France, China, Japan, and Singapore. The healthcare industry in China is expected to reach $542.4 billion by 2024, registering a CAGR of 3.6% during the forecast period. The factors driving the growth of the industry in these countries include increasing prevalence of chronic diseases, government initiatives and improved healthcare infrastructure, and increasing GDP and healthcare expenditure. Based on payment mechanism, the healthcare industry can be classified into self-pay, fee-for-service, and value-based reimbursement. Fee-for-service is the most commonly utilized payment mechanism in the U.K. healthcare industry, and is expected to hold 70.1% share by 2024. The category is expected to advance at a CAGR of 3.0% during the forecast period, mainly on account of rising preference of people for this payment mechanism, due to the provision of paying individually for different services.