Health Industry

Health Industry

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Healthcare Industry Literated Market Research: The Challenges and Opportunities for the Healthcare Industry in 2015 The Healthcare industry would be driven to growth and expansion by advancements in diagnosis, innovative treatments and government initiatives to increase access to care.

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Published 17 September 2015
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Healthcare Industry
Literated Market Research: The Challenges and Opportunities for the Healthcare Industry in 2015
The Healthcare industry would be driven to growth and expansion by advancements in diagnosis, innovative treatments and government initiatives to increase access to care. But the main factor preventing this is the pressure on the sector to reduce the costs of healthcare, especially mass healthcare. While demand forhealthcare serviceswill be complimented by growing global populations and consumer wealth, the industry would be pulled back by aging societies and chronic diseases. These factors are responsible for the health payers to make difficult decisions on benefit levels. Amidst this changing business environment, the historic business models and operating processes in the Healthcare industry would undergo changes. The industry business models would have to adapt to cost pressures which would be the single biggest health care issue facing most countries in 2015. There is pressure from consumers, the regulators and world governments to contain the costs and demonstrate value. The cost factor would impact the aligning of the supply to demand, in particular, how to fund the integration of the primary care while meeting increasing demands for acute activity. The health care industry would need to manage the impact of waste, fraud and abuse, in addition to the high cost of targeted therapies, personalized medicine, genetic-based medicine, medical devices and other advances, so that the health care cost burden is adjusted.
Patients are also growing more cost-conscious and more involved in their healthcare decisions aided by increasing role of the information delivery, especially through the digital media, which would affect the choice and costs of health care. The growing role of the government as the payer, regulator and market-shaper in the global health care sector is an important factor that needs to be critically analyzed by the industry in relation to the business models and functioning. Despite the heightened regulatory scrutiny, there is expected to be increase in both vertical and horizontal consolidation in the industry, which would set the stage for rapid consolidation among health care providers. The importance of product and service providers is expected to grow amidst expected cross-sector convergence. The advancement in technologies applicable in the industry would heighten the competition for talent procurement by the major healthcare players. This would also be driven by a dearth in supply of adequate numbers of trained and qualified health care professionals, especially physicians and nurses. For this healthcare sector to continue growth, the hindrances caused by workforce shortages, patient location, lack of health care infrastructure in certain countries and outdated facilities in both developed and developing markets have to be eliminated to expand the market. For more reports on the Healthcare Industry visit https://literated.com/industry/Healthcare-IndustryAbout Literated.com
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