Prominent Elective Healthcare Services Market Trend for 2025: Role Of AI Assistants In Diagnostics And Treatment Planning

What Are the Projected Growth and Market Size Trends for the Elective Healthcare Services Market?_x000D_
There has been a substantial expansion in the size of the elective healthcare services market in the latest years. It is projected to increase from $1419.76 billion in 2024 to $1552.73 billion in 2025, resulting in a compound annual growth rate (CAGR) of 9.4%. The historic period's growth can be associated with factors such as an increasing elderly population, heightened health and wellness consciousness, enhanced healthcare facilities, a surge in medical tourism, and greater accessibility to elective procedures._x000D_
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The market size of elective healthcare services is projected to witness substantial expansion in the coming years, increasing to an estimated $2191.57 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 9.0%. This upward trend during the forecast period can be accredited to various factors such as the surge in preference for minimally invasive operations, broadening of healthcare amenities, a rising middle-income group, improved insurance support for elective procedures, and a heightened emphasis on individualized medicine. Key developments predicted throughout the forecast period consist of the proliferation of virtual health services, climbing acceptance of non-surgical cosmetic treatments, expansion of in-home health services, creation of modern medical devices, and progression in telehealth._x000D_
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What Is Driving the Growth Trajectory of the Elective Healthcare Services Market?_x000D_
The growth of the elective healthcare services market is anticipated to be driven by an increased acceptance of virtual care alternatives. These alternatives encompass a gamut of healthcare services provided remotely via digital communication tools such as telemedicine, mobile health applications, and online patient portals and eliminates the need for physical visits. The burgeoning acceptance of virtual care alternatives is spurred by technological advancements and a growing demand for readily accessible and convenient healthcare options, particularly during the COVID-19 pandemic. Elective healthcare services necessitate the use of virtual care alternatives to enhance accessibility, convenience, and efficiency for patients in need of non-emergency medical treatments. For example, as per a report released by the Centers for Disease Control and Prevention, a US government agency, in October 2022, 37.0% of adults reported availing telemedicine services in the previous 12 months in 2021. Women were more inclined towards the use of telemedicine, with 42.0% having used such services as opposed to 31.7% of men. Further, telemedicine usage was found to have a positive correlation with age, with its usage increasing from 29.4% for adults in the 18-29 age bracket to 43.3% for individuals aged 65 and above. Consequently, the surge in the acceptance of virtual care alternatives is fuelling the growth of the elective healthcare services market._x000D_
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Which Leading Companies Are Shaping the Growth of the Elective Healthcare Services Market?_x000D_
Major companies operating in the elective healthcare services market are HCA Healthcare Inc., Tenet Healthcare Corp., Mayo Clinic, Sutter Health, LifePoint Health Inc., Universal Health Services Inc., Cleveland Clinic, Johns Hopkins Medicine, Integrated Healthcare Holdings (IHH) Bhd, UMass Memorial Health Care Inc., Healthscope Pty Ltd., Surgical Care Affiliates (SCA), Geisinger Medical Center, Catholic Health Initiatives (CHI), Tufts Medical Center Parent Inc., Pristyn Care, Fortis Healthcare Ltd., Mykare Health, Moorfields Eye Hospital NHS Foundation Trust, Glamyo Health, Medfin India Pvt. Ltd._x000D_
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What Are the Major Trends Shaping the Elective Healthcare Services Market?_x000D_
Prominent firms in the discretionary healthcare service market are building AI-enabled diagnosis and treatment planning tools, like AI assistants, to amplify efficiency, deliver tailored support, and grant easier access to medical information and services via automated and data-driven interactions. These AI assistants are clever software applications, designed to carry out tasks, offer information, and aid users through machine learning and natural language processing. An example of such innovation happened in March 2024 when Salesforce Inc., a software company from the USA, introduced Einstein Copilot, an AI assistant for healthcare. This conversational AI assistant uses an organization's secure health data to optimize processes. It helps the providers and the care teams to gather and outline information from multiple clinical and nonclinical sources, update details of patients and members, and automate routine tasks. With Einstein Copilot, medical professionals can create detailed patient reports that encompass medication, prognosis, social determinants, evaluations, and care gaps. Moreover, care administrators can employ the AI to find in-network providers based on location, specialty, and insurance plan coverage and finish electronic referral forms automatically through the integration of natural language prompts into their workflow._x000D_
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What Are the Key Segments of the Elective Healthcare Services Market?_x000D_
The elective healthcare servicesmarket covered in this report is segmented -_x000D_
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1) By Type: Aesthetic Services, Apnea, Gastrointestinal Disorder, Allergies, Pain Management, Weight Loss, Other Types_x000D_
2) By Application: Medical Centers, Hospitals, Clinics, Ambulatory Centers_x000D_
3) By End User Gender: Male, Female_x000D_
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Subsegments:_x000D_
1) By Aesthetic Services: Cosmetic Surgery, Non-Surgical Aesthetic Treatments, Skin Rejuvenation_x000D_
2) By Apnea: Sleep Apnea Treatments, Home Sleep Apnea Testing, Weight Management Programs For Apnea, Lifestyle Counseling And Behavioral Therapy_x000D_
3) By Gastrointestinal Disorders: Diagnostic Procedures, Surgical Procedures, Medical Treatment_x000D_
4) By Allergies: Allergy Testing, Allergy Immunotherapy, Medication Management, Respiratory Allergy Management_x000D_
5) By Pain Management: Interventional Procedures, Physical Therapy And Rehabilitation, Pharmacologic Management, Alternative Treatments_x000D_
6) By Weight Loss: Surgical Weight Loss, Non-Surgical Weight Loss, Physical Activity Programs_x000D_
7) By Other Types: Orthopedic Procedures, Cardiovascular Procedures, Fertility Services, Dental Procedures, Vision Correction_x000D_
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Which Region Dominates the Elective Healthcare Services Market?_x000D_
North America was the largest region in the elective healthcare services market in 2024. The regions covered in the elective healthcare services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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What Is Covered In The Elective Healthcare Services Global Market Report?_x000D_
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- Market Size Analysis: Analyze the Elective Healthcare Services Market size by key regions, countries, product types, and applications._x000D_
- Market Segmentation Analysis: Identify various subsegments within the Elective Healthcare Services Market for effective categorization._x000D_
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape._x000D_
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market._x000D_
- Market Contribution: Evaluate contributions of different segments to the overall Elective Healthcare Services Market growth._x000D_
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers._x000D_
- Industry Challenges: Analyze challenges and risks affecting the Elective Healthcare Services Market._x000D_
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market._x000D_
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