The healthcare industry is a sector that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care. It encompasses a wide range of services and products, including hospitals, medical devices, clinical services, telemedicine, and health insurance.
The healthcare industry is one of the world's largest and fastest-growing industries. It consumes over 10 percent of gross domestic product (GDP) of most developed nations. In 2020, the global healthcare market was valued at approximately $8.45 trillion.
The healthcare industry is a major part of the economy in many countries. In the United States, healthcare spending accounted for 17.7% of GDP in 2019.
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