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This is an accepted version of this page This is the latest accepted revision, reviewed on 9 December 2024. Economic sector focused on health An insurance form with pills The healthcare industry (also called the medical industry or health economy) is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive ...
In the United States, the healthcare industry accounts for 18% of gross domestic product in 2020 and is one of the largest and most complex parts of the U.S. economy. [36] In 2011, the health care industry consumed an average of 9.3 percent of the GDP or US$ 3,322 (PPP-adjusted) per capita across the 34 members of OECD countries.
Much of the historical debate around healthcare reform centered around single-payer healthcare, and particularly pointing to the hidden costs of treating the uninsured [310] while free-market advocates point to freedom of choice in purchasing health insurance [311] [312] [313] and unintended consequences of government intervention, citing the ...
NEWARK, Del, Jan. 12, 2025 (GLOBE NEWSWIRE) -- The global artificial intelligence in healthcare market is projected to witness exponential growth, with an estimated valuation of USD 17,198.9 million by 2025. Revenue is expected to surge at a CAGR of 18.2% from 2025 to 2035, ultimately reaching an anticipated market size of USD 77,456.4 million ...
The following table lists the largest biotechnology and pharmaceutical companies ranked by revenue in billion USD. The change column indicates the company's relative position in this list compared to its relative position in the preceding year; i.e., an increase would be moving closer to rank 1 and vice versa.
Selling insurance products under UnitedHealthcare, and health care services under the Optum brand, it is the world's ninth-largest company by revenue and the largest health care company by revenue. The company is ranked 8th on the 2024 Fortune Global 500. [4] UnitedHealth Group had a market capitalization of $460.3 billion as of December 20, 2024.
In terms of growth rate, the proportion of health care expenditure in GNP (gross national product) in many countries increased by 1% in the 1950s, 1.5% in the 1960s, and 2% in the 1970s. This high medical and health expenditure was a heavy economic burden on government, business owners, workers, and families, which required a way to restrain ...
The Canadian healthcare system is composed of at least 10 mostly autonomous provincial healthcare systems that report to their provincial governments, and a federal system which covers the military and First Nations. This causes a significant degree of variation in funding and coverage within the country.