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Follow on Google News | Ecosystem of Healthcare Industry Trends, Share and Future ScopeIn 2019, the medical sector of the U.S. was projected to reach $5,605.5 billion by 2024.
By: P&S Intelligence In 2019, the medical sector of the U.S. was projected to reach $5,605.5 billion by 2024, but the future size might actually be a lot larger. Even in the coming years, the medical domain in this country is expected to grow the fastest, primarily due to the high prevalence of chronic diseases. One in every six persons in the U.S. has at least one chronic disease, as per the Centers for Disease Control and Prevention (CDC). In the coming years, the prevalence of cancer, in particular, is expected to surge sharply here, which would lead to a high footfall at hospitals and diagnostic centers. Similarly, the healthcare industry could also be seen in terms of the imaging equipment used, since they are essential to diagnosing diseases and tracking the effect of treatment. Ultrasound devices, X-ray machines, computed tomography (CT) scanners, magnetic resonance imaging (MRI) systems, endoscopes, and mammography equipment are widely used at hospitals and diagnostic centers around the world. In Singapore's case, specifically, X-ray machines are the most widely procured medical imaging equipment; by 2024, the country's healthcare settings are cumulatively expected to have 7,000 X-ray machines. Download sample copy of this report: https://www.psmarketresearch.com/ With the rising incidence of diseases and the unpredictability of life, people are increasingly purchasing health insurance. Medical treatments cost a lot for people of all strata, which is why insurance is being bought by them to reduce their financial burden. The government of numerous countries is going all out to make healthcare accessible to all, as a result of which insurance premiums are becoming more affordable for the common folk. For instance, the Singaporean government, under its MediShield Life insurance program, which it implemented in November 2015, offers reimbursement to all permanent residents and citizens for basic hospital procedures. Thus, as the burden of diseases increases around the world, the need for healthcare will become even dire. End
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