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What key factors are powering the surge in the physicians and other health practitioners market right now?

The market size for physicians and other health practitioners has seen considerable growth in the past few years. It is projected that the market will expand from $1775.38 billion in 2024 to $1892.24 billion in 2025, resulting in a compound annual growth rate (CAGR) of 6.6%. Factors contributing to this historical growth include advancements in medical technology, the increasing aging population, the expansion of health insurance, government healthcare programs, and healthcare regulations.

How fast Is the physicians and other health practitioners market expected to grow, and what’s its future value?

The market size for physicians and other health practitioners is anticipated to witness substantial expansion in the forthcoming years, escalating to $2390.97 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. This growth projected for the forecast period can be attributed to factors such as telemedicine and digital health, shortages in the healthcare workforce, initiatives for health equity, and prospective changes in reimbursement models. Key trends for the forecasted period encompass integration of telehealth, patient-focused care, precautionary care along with lifestyle medicine, alternative and complementary medicine, and team-based healthcare.

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What are the leading drivers of growth in the physicians and other health practitioners market?

The expansion of the physicians and other health practitioners market is facilitated by the projected steady economic growth in numerous developed and developing nations. For example, reports from the Bureau of Economic Analysis, an U.S. governmental agency, in September 2023 revealed a 2.1% annual surge in real gross domestic product (GDP) for the second quarter of 2023. The market growth is also expected to be bolstered by the rebound of commodity prices after they plummeted significantly in the historic period. It’s anticipated that developed economies will experience stable growth throughout the projection period, while emerging markets are likely to grow a bit faster than developed markets. As a result of stable economic growth, enhancements in end user markets are expected to increase, thus propelling the market in the forecast period.

What are the key segments defining the physicians and other health practitioners market?

The physicians and other health practitioners market covered in this report is segmented –

1) By Type: Specialist Doctors, Primary Care Doctors, Podiatrists, Physical Therapists, Optometrists, Chiropractors

2) By Type of Expenditure: Public, Private

3) By End User Gender: Male, Female

Subsegments:

1) By Specialist Doctors: Cardiologists, Neurologists, Dermatologists, Endocrinologists, Orthopedic Surgeons, Gastroenterologists, Obstetricians And Gynecologists

2) By Primary Care Doctors: General Practitioners (GPs), Family Medicine Physicians, Internal Medicine Physicians, Pediatricians

3) By Podiatrists: Foot and Ankle Surgeons, Podiatric Dermatologists

4) By Physical Therapists: Orthopedic Physical Therapists, Neurological Physical Therapists, Pediatric Physical Therapists, Geriatric Physical Therapists

5) By Optometrists: Ocular Disease Optometrists, Pediatric Optometrists, Contact Lens Specialists, Vision Rehabilitation Specialists

6) By Chiropractors: Sports Chiropractors, Pediatric Chiropractors, Neurologic Chiropractors, Wellness Chiropractors

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Who are the key players steering the development of the physicians and other health practitioners market?

Major companies operating in the physicians and other health practitioners market include IHH Healthcare, MEDNAX, Fresenius Medical Care AG & Co. KGaA, NHS England, US Physical Therapy, Henry Schein Inc., Healthway Medical Corp Ltd, Universal Health Services, UnitedHealth Group, CVS Health Corp., McKesson Corporation, AmerisourceBergen Corporation, Cardinal Health Inc., Elevance Health, Centene Corporation, HCA Healthcare Inc., Molina Healthcare Inc., Siemens Healthineers AG, Johnson & Johnson, Pfizer Inc., Merck & Co. Inc., Abbott Laboratories, Thermo Fisher Scientific Inc., Danaher Corporation, Boston Scientific Corporation, Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Becton Dickinson and Company, Cerner Corporation, Epic Systems Corporation, Athenahealth Inc., Allscripts Healthcare Solutions Inc., Teladoc Health Inc., Humana Inc., Anthem Inc.

What emerging trends are influencing the growth of the physicians and other health practitioners market?

Doctors and other healthcare professionals are adopting e-prescriptions more frequently to minimize mistakes and enhance the quality of their services. E-prescribing, also known as e-Rx, involves the use of computer technology to electronically generate, send, and fulfill a medical prescription. It enables a doctor, pharmacist, nurse practitioner, or physician assistant to send a new prescription or renewal authorization to a community or mail-order pharmacy electronically. E-prescribing offers benefits to doctors by diminishing mistakes associated with handwritten prescriptions. The trend towards e-prescribing opens up opportunities to enhance the service quality of doctors and other healthcare professionals.

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Which regions are most influential in expanding the physicians and other health practitioners market?

North America was the largest region in the physicians and other health practitioners market in 2023. Asia-Pacific was the second largest region in the physicians and other health practitioners market. The regions covered in the physicians and other health practitioners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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