Business Verticals

Mayra Healthcare Industry

Healthcare industry or health economy (medical industry), is an aggregation of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care. Increasing income level, greater health consciousness, increased lifestyle diseases and improved access to insurance would be the basic factor to growth. According to an American Hospital Association survey, the health care market in the U.S. in 2015 included the major categories of hospital care ($1,031.1 billion), physician and clinical services ($640.3 billion), dental services ($119.1 billion) and prescription drugs ($328.4 billion), along with nursing home and home health care ($253.6 billion). Registered U.S. hospitals totalled 5,723 properties containing 914,513 beds serving 35.4 million admitted patients during the year 2013.

In India the healthcare sector is expected to CAGR of 22.9 percent during 2015-20 to US$ 280 billion. Telemedicine is a fast-emerging trend in India and it has a market of which is valued at US$ 7.5 million currently and is expected to grow at a CAGR of 20 per cent to reach US$ 18.7 million by 2017. Private sector has a very important role and emerged as a major force in India's healthcare industry and contributing 74 percent of the country's total healthcare expenditure. Recruitment agencies has surveyed and found that in U.S. News Best Jobs list this year dentist, nurse practitioner, physician, dental hygienist, physical therapist, registered nurse, and physician assistant has a placed at top of the list. The Bureau of Labor Statistics (BLS) predicts 19 to 25 percent growth in healthcare jobs in the next seven years, especially licensed practical nurses, medical assistants, and registered nurses. Monster.com reports that aging baby boomers and a population that's living longer than ever are driving the continuing boom in healthcare hiring. India has become one of the favourite for health care treatments which is owing to the vast differences in medical expenses in western countries. The Indian healthcare created employment opportunities to as many as 4 million people in the health care segment or other related sectors. It is considered that healthcare jobs is one among of the most noble career options which is known to be the single largest profession all around the world.