Industry Growth Continues
Rising income levels, an aging population and technological advances have contributed to the growth of he healthcare industry in 2007, which is expected to continue to outpace the overall economy in the next decade. U.S. healthcare spending is estimated to reach $4.1 trillion by 2016, more than 19.6 percent of GDP, according to the most recent projections by the Centers for Medicare and Medicaid. Although this long-term growth is expected to affect most healthcare markets, Global Insight expects the ambulatory healthcare market, particularly home health services, to benefit the most. The ambulatory healthcare market, which comprises establishments primarily engaged in providing skilled nursing services in the home, grew 6.3 percent in 2007 and is expected to see revenue growth of 6 percent in 2008. This growth is due to several factors, including aging demographics, a decline in the number of hospital beds per capita, increasing consumer awareness in home health services and new technology allowing more healthcare procedures and services provided in the home. Read complete report.
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