2024-2033 Global Medical-Social Working Services Market Outlook: Projected Size and Growth Rate
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Medical-Social Working Services Market Growth Forecast 2024-2033: What’s the Expected Rate?
The market for medical-social working services has seen substantial growth in the recent past. The value of this market is predicted to rise from $6.98 billion in 2023 to $7.56 billion in 2024, displaying a compound annual growth rate (CAGR) of 8.3%. The significant growth seen during the historic period is a result of increased awareness of mental health problems, the widespread adoption of comprehensive care models, the creation of assessment systems focused on individual growth in their environment (PIE), rising demand for medical-social care, and a surge in autism cases.
In the coming years, the market size of medical-social working services is anticipated to experience substantial growth, reaching a valuation of $10.43 billion in 2028, with a CAGR of 8.4%. The growth during the projected period could be due to healthcare policy changes, increased awareness regarding mental health, the emergence of telehealth, broader health insurance coverage, and an emphasis on preventive and proactive care. The key trends projected during this period include technological progress, the advent of mobile health applications (MHealth), the creation of digital therapeutic answers, the application of blockchain technology, and the incorporation of social and environmental factors.
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What Factors Are Impacting the Growth of the medical-social working services Market?
The upsurge in patient numbers is prophesied to incite the expansion of the medical-social working services market in the future. The patient count is surging due to factors such as an aging demographic, growing instances of chronic afflictions, and medical technology advancements that boost diagnostic and treatment procedures, thus promoting heightened awareness and accessibility to healthcare services. Medical-social working services improve patient welfare by unifying medical treatment with social support, promoting access to resources and catering to both health and social requirements. For instance, a report released by the Australia Institute of Health and Welfare, a government organization operating in Australia, in August 2023, stated that the hospitalization rate grew to 12.1 million during 2022-2023, indicating a 4.6% increment compared to 11.6 million in the previous year, 2021-2022. Hence, the growth of the medical-social working services market is being spurred by the escalating patient volume.
What Are the Fundamental Segments in the Medical-Social Working Services Market?
1) By Service Type: Patient Intake Screening, Patient Counselling And Education, Discharge Planning, Patient Advocacy, Other Service Types
2) By Type Of Expenditure: Public, Private
3) By Application: Hospitals, Nursing Homes, Assisted Care Facilities, Residential Treatment Centers, Other Applications
4) By End-User: Female, Male, Other End-Users
What Trends Are Shaping the New Direction of the Medical-Social Working Services Market?
Prominent organizations in the medical-social working services domain are working on increasing their market footprint by introducing revolutionary solutions, like in-home healthcare campaigns, to offer comprehensive care management merging medical and social services. These at-home healthcare services include a broad spectrum of medical and supportive home-based care, like trained nursing, therapy, personal care, and remote monitoring, all aimed towards bettering patient health and autonomy. For example, Star Health and Allied Insurance, a health insurance organization based in India, initiated a Home Healthcare campaign in July 2024. It offers medical services directly to patients’ homes in over 50 Indian cities and towns. This campaign provides a broad array of healthcare services such as nursing care and physiotherapy, formed via collaborations with providers like Care24 and Portea. These services can be availed either through a toll-free number or the Star Health mobile app. It covers a variety of conditions including fever, acute gastroenteritis, urinary tract infections, and acute gastritis, providing costs for a five-day treatment package. The main goal of this initiative is to improve patient comfort and accessibility, symbolizing the rising inclination towards home-based health care solutions.
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Which Regions Are Making a Mark in the Medical-Social Working Services Market Growth?
North America was the largest region in the medical-social working services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical-social working services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Medical-Social Working Services Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the medical-social working services market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Medical-Social Working Services Market Include
1. Medical-Social Working Services Market Executive Summary
2. Medical-Social Working Services Market Segments
3. Medical-Social Working Services Market Size And Template Market Growth Rate
4. Key Medical-Social Working Services Market Trends
5. Major Medical-Social Working Services Market Drivers
……
25. Key Mergers And Acquisitions In The Medical-Social Working Services Market
26. Top Medical-Social Working Services Companies
27. Medical-Social Working Services Market Opportunities And Strategies
28. Medical-Social Working Services Market, Conclusions And Recommendations
29. Appendix
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