Shortage Of Skilled Manpower Soon To Affect Physicians And Other Health

Posted by praneeth on January 3rd, 2019

The global physicians and other health practitioners’ market, one of the segments of healthcare services industry. During the historic period it grew at a compound annual growth rate (CAGR) of around 4%. This was mainly due to the increased healthcare spending and economic growth.

For the forecasted period, the physicians and other health practitioners’ market size is expected to be over USD 1800 billion by 2021, growing at a CAGR of nearly 5%. The growth rate for forecasted period is higher when compared to the historic period. This is mainly attributed to the increase in healthcare access and economic growth

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Budget limitations are a key constraint on the healthcare industry. Individuals, governments and insurers are struggling to meet the increasing prices, including new premium priced drugs, expensive diagnostic techniques, increased surgery costs and physician consultation fees. This has resulted in increasingly stringent controls from insurance payers and health regulators over which services and products can be purchased. This acts as a restraint on the growth of the all segments of healthcare market including that of physicians and other health practitioners.

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