The healthcare services market consists of sales of healthcare services and related goods by entities (organizations, sole traders, and partnerships) that provide human healthcare services. Patient-centric healthcare is an emerging value-based model for healthcare delivery, which has resulted in an improvement in care quality, better outcomes, and greater patient satisfaction. The growing medical industry coupled with increasing healthcare expenditure across the world is projected to fuel the global market during the forecast period.
The Global Health care services market size to reach USD 336.02 million by 2027. Factors such as technological advancements in health care solutions and the co-existence of healthcare and IT services are expected to continue driving the adoption of healthcare API. the health management applications segment accounted for the largest share of the global patient engagement solutions market. Based on end users, the patient engagement solutions market is segmented into providers, payers, patients, and other end users (including government bodies, employer groups, and pharmaceutical companies).
Industry players are trying to develop a fully integrated Healthcare API solution to gain market penetration. Moreover, the COVID-19 pandemic has increased the need for remote access to patients’ data which is expected to boost the growth of the Healthcare market. private health systems are expected to positively impact the regional market growth. Also, the remote Patient Monitoring (RPM) is expected to drive the market growth in the forthcoming years.
- The healthcare payers segment is expected to showcase the fastest growth over the forecast period. The growth can be attributed to easy access to patient data and billing information by these API platforms
- Remote patient monitoring segment is expected to show the fastest growth over the forecast period
- The online distribution channel is expected to expand at the fastest CAGR of 13.6% from 2020 to 2027
Healthcare Services Market Segmentation
By Service Type- The healthcare services market can be segmented by service type into
1) Hospitals and Clinics
2) Physicians and Other Health Practitioners
3) Nursing Care
4) Dental Services
5) Medical and Diagnostic Laboratory Services
6) Residential Substance Abuse and Mental Health Facilities
7) Ambulance Services
8) All Other Ambulatory Health Care Services
By End User Gender- The healthcare services market can be segmented by end user gender into
- a) Female
- b) Male
Healthcare services Regional Outlook
The healthcare services market is segmented into – Western Europe, Asia Pacific, Eastern Europe, South America, Middle East, Africa, and the North America is the largest market for healthcare services, accounting for almost 41.1% of the global market.