Healthcare Practitioners: Market Trends and Growth in 2024

The Business Research Company recently released a comprehensive report on the Global Physicians And Other Health Practitioners Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The physicians and other health practitioners market size has grown strongly in recent years. It will grow from $1709.96 billion in 2023 to $1856.01 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to medical advancements, aging population, health insurance expansion, government healthcare programs, healthcare regulations.

The physicians and other health practitioners market size is expected to see strong growth in the next few years. It will grow to $2364.85 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to telemedicine and digital health, healthcare workforce shortages, health equity initiatives, the potential shifts in reimbursement models. Major trends in the forecast period include telehealth integration, patient-centered care, preventive care and lifestyle medicine, alternative and complementary medicine, team-based care.

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Market Drivers and Trends:

The physicians and other health practitioners market growth is aided by stable economic growth forecasted in many developed and developing countries. For instance, in September 2023, according to the Bureau of Economic Analysis, a US-based government agency, the real gross domestic product (GDP) increased at an annual rate of 2.1% in the second quarter of 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in end user markets, thereby driving the market during forecast period.

Physicians and other health practitioners are increasingly using e-prescriptions to reduce errors and improve service quality. Electronic prescribing or e-prescribing (e-Rx) is the computer-based electronic generation, transmission and filling of a medical prescription. E-prescribing allows a physician, pharmacist, nurse practitioner, or physician assistant to electronically transmit a new prescription or renewal authorization to a community or mail-order pharmacy. E-prescribing is beneficial to physicians as it reduces errors due to handwritten prescriptions. The E-prescribing trend provides scope for improving physicians and other health professionals' service quality.

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Major Key Players of the Market:

IHH Healthcare, MEDNAX, Fresenius Medical Care AG & Co. KGaA, NHS England, US Physical Therapy, Henry Schein Inc., Healthway Medical Corp Ltd, Universal Health Services, UnitedHealth Group, CVS Health Corp., McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health Inc., Elevance Health, Centene Corporation, HCA Healthcare Inc., Molina Healthcare Inc., Siemens Healthineers AG, Johnson & Johnson, Pfizer Inc., Merck & Co. Inc., Abbott Laboratories, Thermo Fisher Scientific Inc., Danaher Corporation, Boston Scientific Corporation, Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Becton Dickinson and Company, Cerner Corporation, Epic Systems Corporation, Athenahealth Inc., Allscripts Healthcare Solutions Inc., Teladoc Health Inc., Humana Inc., Anthem Inc.

Physicians And Other Health Practitioners Market 2024 Key Insights:

• The physicians and other health practitioners market size is expected to see strong growth in the next few years. It will grow to $2364.85 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Economic Stability Fuels Growth In The Physicians And Health Practitioners Market
• The Role Of E-Prescriptions In Modern Medical Practice
• North America was the largest region in the physicians and other health practitioners market in 2023

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