40+ Healthcare Industry Statistics As of March 2021
Healthcare industry statistics are changing rapidly, but we tried to catch up with the biggest challenges and opportunities. An overall impression would be that there is a massive increase in revenues to be expected.
Despite the fact that coronavirus has left a devastating mark on the world and the figures for certain medical admissions decreased, the future of the healthcare industry is quite positive. Read on to find out what country has the best healthcare system, how much a hospital stay costs on average, or how many Americans have healthcare insurance of some kind.
Here are some essential facts related to modern healthcare that deserve your attention.
10 Key Healthcare Industry Statistics for 2021
- 72% of the population believes that the biggest concern regarding health in the world is COVID-19.
- In 2020, 42% of physicians reported feeling burned out.
- 1 in 4 Americans avoids visiting doctors due to the high cost of medical care.
- The global digital health market will experience a 37.1% growth in 2021.
- There were 599 data breaches in the US healthcare industry in 2020.
- 43.4% of adult Americans are inadequately insured.
- Healthcare industry statistics reveal the US healthcare industry was worth $2,612 billion in 2020.
- California has the highest number of active physicians — 113,998.
- By 2025, the global medical marijuana market size will reach $59 billion.
- In 2019, 40% of Americans using CBD took it for pain treatment.
Global Healthcare Industry Overview
How much is the global healthcare market worth, how did the pandemic affect medical care, and what are the predictions for the future?
1. 72% of the population believes that the biggest concern regarding health in the world is COVID-19.
Since the beginning of the pandemic, there have been over 2.6 million deaths worldwide by the time of publishing this article, so it’s no surprise that COVID-19 is the primary concern among people today. Statistics in healthcare report that 37% of people claim that the biggest health-related issue in their country is cancer, followed by 26% of people who blame it all on mental health disorders, stress (21%), obesity (18%), and diabetes (13%).
2. Online symptom checkers are wrong 74% of the time when it comes to diagnosis.
Based on the Edith Cowan University research, which examined the data from 36 different apps and websites for symptom checking, the correct diagnosis was in the top three results in only 52% of the cases.
3. The global healthcare industry market size is expected to reach $9,725.4 billion in 2023.
(The Business Research Company)
The global healthcare market, which was worth $7,102.7 billion in 2019, witnessed a decrease in 2020, due to the pandemic, to $6,657.1 billion. Interestingly, North America is the largest healthcare market in the world.
However, it’s estimated that the market will be able to recover in 2021, reaching a CAGR growth of 7%, making it worth $9,725.4 billion in 2023.
4. The results of healthcare industry statistics for 2020 show 42% of American physicians reported feeling burned out.
(Beckers Hospital Review)
Officially recognized as a disease in 2019, burnout affects (to some level) as much as 42% of physicians during the world pandemic.
Since the start of the pandemic, 51% of female and 36% of male medical practitioners reported feeling burned out. The pandemic was also responsible for the drop in numbers of satisfied physicians. While 69% of medical practitioners reported being content in the pre-covid era, only 49% claimed the same after the virus outbreak.
6. Healthcare industry statistics reveal the global medical tourism market will reach $65.79 billion by 2025.
North America has the highest shares due to the use of advanced technologies and innovative products in medical care. Europe takes second place, with Germany and Italy as the main representatives, followed by the Asia Pacific region, Latin America, and the Middle East and Africa.
5. Medical BPO is becoming a growing trend in the healthcare industry, generating $26 billion worldwide in 2019.
(Business Wire) (Statista)
In a nutshell, healthcare facilities and hospitals are outsourcing their non-core activities for operational benefits, bigger revenues and cost reductions, and better patient satisfaction.
7. Who has the best healthcare in the world? France.
(World Population Review)
France is the second country in the world that produces the highest number of clinical trials in gene therapy and oncology. On top of that, there are over 1.2 million registered healthcare professionals in the country — 722,600 nurses and 226,900 active doctors. In other words, there are 3.4 physicians per 1,000 people.
France is also the country with the highest rates of cancer recovery (in Europe).
8. Romania is the worst European country when it comes to healthcare.
(The Borgen Project)
Many factors put Romania in the last place.
First of all, based on the healthcare industry analysis, Romania has the lowest GDP rates in Europe (4%) that go to the healthcare system. Secondly, the number of doctors and hospitals in the country is pretty low, as one-third of doctors work abroad.
Owing to the fact that the salaries are low, the hospital staff is underpaid, so bribery is common. Over 15,000 doctors have left Romania since it became a member of the European Union.
9. Brazil has the most affordable healthcare system for expats.
If we make a medical procedure cost comparison by country, Brazil offers the cheapest procedures in addition to good medical care and good quality services. When it comes to medical procedures, US citizens can save up to 20% on their medical bills.
Another country with an affordable medical system is Costa Rica, where one doctor’s visit will cost you $25–$50.
10. Australia has the highest healthcare satisfaction rate of 81%, as indicated in the global healthcare industry statistics.
Based on a survey conducted on 27 countries, Australia (81%), the Netherlands (76%), and Great Britain (74%) are the countries that reported the highest satisfaction rates regarding their healthcare system.
In sharp contrast, Poland (9%), Russia (17%), and Peru (18%) have the lowest satisfaction rates.
11. The global healthcare cybersecurity market will also change by reaching $125 billion by 2025.
(MedCityNews) (Cybercrime Magazine)
The pandemic will shape new healthcare industry trends starting with electronic communications and telehealth. This trend could cause major issues for people who are not able to use the internet.
That said, let’s not forget about cybercriminal attacks. The digitalization will also open the door to numerous ransomware attacks, which will lead to raising awareness about the dangers of virtual care.
On that note, seeing how the universal health care statistics changed since covid, it’s predicted that the worldwide healthcare cybersecurity market size will reach $125 billion by 2025.
12. The global telehealth market is worth $25.4 billion.
It’s predicted that the global telehealth market will witness a CAGR growth of 16.9% by 2025, making it worth $55.6 billion. Several factors will be responsible for this fast growth, starting with population growth, shortage of physicians and medical staff, advancements in telecommunications, etc.
13. The global digital healthcare industry growth rate is projected to experience a 37.1% growth in 2021.
The market size growth is expected to continue in the following years, reaching a whopping $508.8 billion by 2027.
Since the virus outbreak, most health services have switched to digital platforms (telemedicine, remote patient monitoring, etc.). For example, online pharmacy sales witnessed a staggering increase of 600%, while online consultations were up by 350%. On the other hand, the “Doctor near me” searches have seen a 60% decline.
14. Spain is the healthiest country in the world.
Spain might not have the best healthcare in the world like France; however, based on the Bloomberg Global Health Index, Spain is the healthiest country globally, despite them being known for drinking wine and smoking a lot of cigarettes. Furthermore, Spaniards’ life expectancy is 83.5 years, and it’s believed that by 2040 it will amount to 85.8.
The top 5 healthiest countries in the world are Italy, Iceland, Japan, and Switzerland. The US ranks 35th.
US Healthcare Industry Analysis for 2021
What can we learn from the US statistics? What’s the state of healthcare, and how much money do Americans spend on health-related issues?
15. There were 599 data breaches in the US healthcare industry in 2020.
(MedCityNews) (Healthcare Breach Report)
Healthcare software stores a lot of profitable information to hackers, including social security numbers, addresses, names, medical history, etc. Healthcare facts and statistics show that in 2020 there was a 55.1% jump in the number of data breaches compared to 2019.
67.3% of all healthcare breaches were linked to hacking and IT incidents, followed by unauthorized disclosure (21.5%) and loss or theft (8.7%).
16. California witnessed 49 healthcare data breaches, making it the state with the highest number of breaches in 2020.
(Healthcare Breach Report)
Out of 50 US states, 37 witnessed more breaches in 2020 than in 2019. If we look at the US healthcare statistics from 2019, Texas was the state with the highest number of data breaches (43). However, in 2020 California took first place with 49 breaches.
Yet, it was Michigan that has the biggest number of people affected by the breach (largely due to the infamous Trinity Health case).
17. 43.4% of adult Americans are inadequately insured.
(The Commonwealth Fund)
Almost half of the Americans between 19 and 64 were inadequately insured by the beginning of 2020.
The highest uninsured rates were noted among people of color, young adults, small-business workers, and people with low income.
18. The US healthcare industry worth in 2020 amounted to $2,612 billion.
It’s estimated that the healthcare industry’s profits in the US will experience an increase of up to 5% per year through 2024. The fastest growth is expected in healthcare IT and Medtech.
19. Healthcare and other costs due to opioid misuse burden the US with $78.5 billion every year.
The opioid epidemic continues to add to the morbid statistics. There were nearly 50,000 deaths due to drug overdose involving prescription and synthetic opioids — such as heroin and fentanyl — as shown by the 2019 national center for health statistics.
20. The life expectancy of US citizens dropped by one year in 2020.
While Americans’ average life expectancy before the start of the pandemic (in 2019) was 78.8, the 2020 data shows us that it changed to 77.8 years. When it comes to race, the highest decrease was noted among Blacks (from 74.7 to 72.0), followed by Hispanics (from 81.8 to 79.9) and Whites (from 78.8 to 78).
21. Over 2.8 million antibiotic-resistant infections happen each year.
The estimated 2.8 million antibiotic-resistant infections per year are some of the most shocking healthcare facts in America for 2019. The US CDC lists 18 super-resistant bacteria and fungi in the Threats Report published in 2019. Contributing to healthcare expenses with an astounding $4.6 billion annually, antibiotic-resistant infections caused the death of over 35,000 patients in 2019.
22. Alcohol abuse in the US causes healthcare costs of $27 billion per year.
A well-known fact is that alcohol consumption increases the risk of developing cancerous diseases, cardiovascular diseases, and liver diseases. Also, the related costs in the treatment of such health complications are proven to be substantial. According to healthcare industry statistics, the overall cost of alcohol abuse is $249 billion per annum.
23. Trinity Health witnessed the biggest healthcare data breach in 2020 when hackers obtained over 3.3 million records.
The biggest victim of a cyber attack in 2020 was the not-for-profit Catholic health system, Trinity Health. The hackers managed to steal patient and donor information, dating from 2000–2020.
MEDNAX Services, Inc. was also attacked. The hackers used phishing emails to steal social security numbers, driver’s license numbers, and health insurance information from 1.2 million patients.
24. The US vs the UK healthcare statistics — Americans spend an average of $11,582 per person on health while Brits spend $4,477.
In 2019, the year before the pandemic, healthcare spending in the US reached $3.8 trillion. In contrast, in the same year, the British government spent $297.44 billion (£214.4 billion) on health care.
25. In March and April of 2020, hospital spending witnessed a decrease of 35.8%.
Healthcare spending statistics tell us this large drop in numbers happened due to the coronavirus crisis, which led to postponing the noncritical services (like elective surgeries) that gave the hospitals high profits. On top of that, reduced admissions were also noted among patients with acute medical conditions like stroke and heart attacks.
Hospital spending slowly started to go “back to normal” in May of 2020, even though the admission levels were still about 5% below the average.
26. As of February 2021, COVID-19 has become the leading cause of death among Americans.
(Health System Tracker)
Healthcare statistics from 2020 showed that COVID-19 was the third leading cause of death among Americans, right behind heart disease and cancer. However, the 2021 data implies that coronavirus is currently the leading cause of death in the US.
In other words, over 2,400 people per day die due to coronavirus compared to 2,000 people who die due to heart diseases and 1,600 who die from cancer.
27. US healthcare statistics show that California has the highest number of active physicians — 113,998.
The next state on the list is New York, with 91,841 recorded physicians; Texas with 65,633, Florida has 57,803 professionals, and Pennsylvania, with 52,328 physicians.
When it comes to the specialty area, emergency medicine has the highest number of physicians (57,834), followed by psychiatry (55,593) and surgery (53,673).
The Cost of Medical Treatment in the USA
How much money do Americans spend each year on health insurance and specific treatments?
28. The average American spends about $360 per year out-of-pocket on dental care.
(Money Under 30)
Americans usually spend from $15 to $50 per month on dental insurance. That said, the cost can get even higher if there’s a need for extensive services. For example, while the dental implant costs at least $1,500, the crown prices will vary from $750 to $1,200.
29. Medicare statistics from 2019 show that only 18.1% of Americans were covered by Medicare.
Medicare is health insurance that’s created for people over 65 and people with disabilities. In 2019, the Medicare program managed to generate a staggering $794.8 billion.
That said, Medicare comprises two parts — Part A includes hospital insurance, and Part B takes care of medical insurance. According to the Medicare facts, 99% of Medicare beneficiaries don’t have a Part A premium.
30. 1 in 4 Americans avoids visiting doctors due to the high cost of medical care.
In 2019, 29% of people were unable to buy prescribed medications because they were too expensive. Likewise, 19% of Americans didn’t fill the prescription, whereas 12% started cutting their prescribed medication dosage in half (or skipping it).
Why? The average cost of hospital stays without insurance is pretty high, so when it comes to paying off the medical bills, 9% of Americans have to take debt, and 18% have to borrow money to settle their medical bill.
31. Heart transplantation is the most expensive procedure in the US. It costs $1,664,800.
Approximately 3,000 heart transplantation operations are performed each year in US hospitals. These operations are very risky and complicated. Patients need to wait for at least 213 days before getting to the operation table. Let’s not forget that they also need to stay in the hospital for about 50 days.
Now, according to the health care spending statistics, heart transplantation is the most pricey procedure, costing $1,664,800, and followed by double lung transplant ($1,295,900), intestine transplant ($1,240,700), and allogeneic bone marrow transplant ($1,071,700).
32. In 2020, 39% of the total number of Medicare beneficiaries were signed up for Advantage plans, as Medicare enrollment statistics show.
In 2020 there were 61,212,247 Medicare beneficiaries in the US, out of which 24.1 million, or 4 out of 10, were enrolled in Medicare Advantage plans.
In this regard, if the predictions come true, the percentage of Medicare beneficiaries enlisted in Medicare Advantage plans might reach 51% by 2030.
The states with the best Medicare Advantage plans (based on popularity, availability, quality, and affordability) are Delaware, Connecticut, Pennsylvania, Florida, and Arizona.
33. The average cost of a hospital stay is $11,700.
(People Keep) (Healthcare Finance)
On the other hand, the cost of medical procedures without insurance can be highly expensive. For example, an uninsured hip replacement could cost you $37,857, an arm or wrist fracture will cost about $21,427, and normal pregnancy/delivery could require $14,847.
At the same time, uninsured coronavirus patients who receive hospital care will have to pay between $51,389 (if they are 21–40 years old) and $78,569 (if they are 41–60 years old).
Healthcare Industry Statistics and Cannabis
How big is the medical marijuana market, and how does it affect the healthcare industry?
34. By 2025, the global medical marijuana market size will reach $59 billion.
(Health Europa) (The Motley Fool)
So far, medical marijuana has been legalized in 47 countries worldwide and 38 US states.
Due to its health benefits, it’s expected that in the near future, even more countries will legalize medical marijuana use which will lead to a higher healthcare industry revenue and higher tax revenue.
35. The answer to the question — is CBD oil covered by insurance — is yes and no.
(Medical News Today)
While the insurance policy doesn’t cover CBD oil from reputable companies, even if a doctor has prescribed it, Medicare covers four cannabis-related medications — Epidiolex, Cesamet, Marinol, and Syndros.
Epidiolex is used to treat epilepsy, whereas Cesamet, Marinol, and Syndros are used for anorexia treatment (among other uses).
36. Health care facts confirm that, in 2020, CBD marijuana extract was still considered a Schedule 1 controlled substance.
The US Enforcement administration still considers cannabis extracts as dangerous as LSD or heroin, despite numerous studies proving that at least CBD, in a purified extract, doesn’t cause dependency or gets people “high.”
Only Epidiolex, classified as a Schedule 5 controlled substance since 2018, is legally prescribed. Sativex — an EU-approved medicine that contains 2.7 mg THC and 2.5 mg CBD — is still not approved for use in the US.
Legalization would probably reduce medical costs in the USA, but as the marijuana taxes would be reduced, the country could be losing money on that end.
37. The demand for medical cannabis in Germany keeps expanding every year.
Cannabis flowers are the most wanted cannabis product. The import of 20.77 tons of cannabis was approved in 2019. For 2020 the figure was lower (16 tons), consequently causing problems in meeting with patients’ demands.
38. Numerous types of health statistics report that the highest number of medical marijuana patients are from California.
In 2020, about 2 million medical marijuana patients were registered in California. That’s 1,920,294 million people, to be exact. What’s more, in the same year, the sales of legal cannabis reached $4.4 billion, which is a new record.
39. In 2019, 40% of Americans using CBD took it for pain treatment.
14% of Americans reported using CBD products for medical treatment, public health statistics show, which is one in 7 US citizens. The highest percentage was noted among CBD products for pain relief (40%), CBD products for anxiety (20%), and CBD products for sleeping problems (11%).
When it comes to gender, women were more likely to use CBD for anxiety management than men, who most of the time used CBD for pain relief.
40. There are currently 53 active clinical studies involving cannabidiol in the US.
(Clinical Trials) (CREU) (Clinical Leader)
The United States healthcare system supports numerous clinical studies on cannabidiol. Healthcare industry statistics confirm many of them are looking for participants, so that is your chance to get hold of free cannabis products.
A lot of the research in the US is done by private parties in contrast with other countries such as Israel, for example, so in 2017 the government invested $2.13 million in clinical research studies that explore the effects of cannabis extracts.
Healthcare statistics and facts show us that this is the most important aspect of safety and stability in our lives as citizens. We can only manage to avoid trouble and cope with the ever-present changes in healthcare by understanding the information we have, and by using it intelligently.
Soon enough, we could be looking forward to CBD getting a bigger role in them as well, as the legalization is going very well.
Why are statistics important in the healthcare field?
Statistics are important because they give us the data (represented in numbers) about a specific disease, treatment, and treatment effectiveness. They also show us the number of births and deaths (aka vital statistics), the effectiveness of the health care system, the number of people who use health care, and its cost.
The data is usually collected by researchers from non-profit organizations, private agencies, or the government. The statistics are used to give us knowledge about public health and health care.
Why is it important to have health care?
The most important reason why you should have health insurance is the high cost of medical care. In other words, the health insurance policy will take care of the medical bill, whether it’s the doctor’s bill, the consultation fees, hospitalization, ambulance charges, or medical tests.
For example, people over 65 can apply for Medicare, while people with lower income can apply for Medicaid.
How much does the average person spend on medical care?
An average American spends around $11,582 on healthcare, whereas the average cost of hospital stay is $11,700. Though, do keep in mind that medical costs change all the time, following a faster or slower upward pace.
Many factors can influence the final medical bill, such as the state you live in, the type of medical insurance, the choice of the facility (hospitals are the most expensive facilities, compared to physician’s offices and urgent care that are far cheaper), your negotiation skills, etc.
How big of an industry is healthcare?
The global healthcare market is worth $6,657.1 billion at the moment and is expected to rise to $9,725.4 billion in 2023.
The healthcare industry is one of the biggest industries in the world that will, despite the pandemic, continue to grow in the future. Industries in the healthcare sector include:
- Drug manufacturers (biotechnology firms, major pharmaceuticals firms).
- Medical equipment makers.
- Managed healthcare companies (insurance companies).
- Healthcare facilities (hospitals, labs).
When it comes to spending money on healthcare, the US spends the most, aka $11,072 per capita, followed by Switzerland ($8,000 per capita). Germany and Norway spend $6,600 per capita each.
How much is the healthcare industry worth in 2020?
In 2020, the healthcare market was worth $6,657.1 billion, which was lower than the last year ($7,102.7 billion).
The pandemic was the main culprit for the decline in numbers, given that all of the essential healthcare services were directed towards the prevention and management of COVID-19 and people avoided going to hospitals. The non-essential services (like routine checkups) were postponed or shut down.
It’s believed that the market will recover in 2021 and that by 2023 it will be worth $9,725.4 billion.
Is healthcare the largest industry in the US?
No, healthcare isn’t the largest industry by revenue in the US. It is second on the list, while the biggest US industry is retirement and pension plans. They are estimated to generate $1,257.9 billion in 2021. Healthcare and medical insurance are second with $1,165.8 billion. Drug, cosmetic, and toiletry wholesale ranks third.
Is the healthcare industry growing?
Yes, the healthcare industry is increasing. The US healthcare industry has been growing in the past decades and will continue to grow in the future. A few factors are responsible for this growth.
First of all, the overall life expectancy is higher than before. Secondly, ACA (Affordable Care Act, or Obamacare) made healthcare affordable for many Americans.
And lastly, one of the largest generations in the US (until recently when it was replaced by Millenials) was the baby boomer generation. About 71.6 million baby boomers in the US are over 65 years old, which means they are more likely to have health problems.
Healthcare industry statistics also imply that some healthcare job positions will be in high demand in the future, such as registered nurses, surgeons, therapists, physicians, health techs, etc.