U.S Out-of-pocket Healthcare Expenditure Report Description:
U.S. Out-of-pocket healthcare expenditure report gives a comprehensive outlook on private healthcare services in U.S. The report on U.S Out-of-pocket healthcare expenditure gives historical, current, and future market sizes (US$ Mn) on the basis of service type, expenditure type, and end users. This report studies U.S Out-of-pocket healthcare expenditure dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, U.S Out-of-pocket healthcare expenditure report includes regulatory scenario and competition analysis with vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed U.S Out-of-pocket healthcare expenditure to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Service Opportunities). Key stakeholders of the U.S Out-of-pocket healthcare expenditure report include policymakers, and healthcare service providers engaged in healthcare services offering.
U.S Out-of-pocket Healthcare Expenditure:
U.S Out-of-pocket healthcare expenditure estimated to be valued US$ XX Mn in 2017 and poised to grow at CAGR of XX% over 2017-2023. The market for U.S private healthcare projected to reach US$ XX Mn by 2023 owing to the expansion of health insurance coverage.
Growing out-of-pocket healthcare expenditure
The increasing out-of-pocket healthcare expenditure has created the ample growth opportunities for healthcare service providers in the country. For instance, in 2015, Out-of-pocket spending grew 2.6% to $338.1 Bn, slightly faster than the growth of 1.4% in 2014. Consumers with better healthcare plans and higher premiums continue to receive quality healthcare services and people with less comprehensive plans do not receive the same. Consumers often pay healthcare expenses through cash or check, credit cards, flexible spending accounts, health savings accounts, healthcare financing programs, loans and lines of credit. Moreover, cash or check, credit cards are common means of paying healthcare expenditure in U.S.
Consumers are spending majorly on pharmaceuticals and dental services
Healthcare consumers in U.S are spending their major chunk of out-of-pocket healthcare expenditure on pharmaceutical as co-pays and dental services as physician fees and elective surgeries. For instance in 2015, according to U.S. Centers for Medicare & Medicaid Services, Out-of-pocket spending for dental services (which accounted for 40 percent of dental spending) increased 1.8 percent in 2015 after increasing 0.8 percent in 2014. The spending on prescription drugs is mainly attributed to increase in spending on new medicines & generics, growth in prices of existing brands.
Key Findings of the Report:
- U.S. Out-of-pocket healthcare expenditure expanding at XX% CAGR over 2017 to 2023 to reach market value of US$ XX Mn by 2023
- Based on service type, prescription drugs segment accounted for larger revenue share in 2016 owing to increase in spending on new medicines and generics
- Premium fees segment expected to hold larger revenue share in U.S. Out-of-pocket healthcare expenditure over the forecast period owing growing healthcare insurance subscription
- Majority of consumers are paying out-of-pocket healthcare expenditure through cash and credit cards
Key Features of the Report:
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Service Type
- Elective Surgeries
- Prescription Drugs
- Office-Based Procedures
- Hospital Stays
By Expenditure Type
- Direct Payments
- Premium Fees
By End Users
- Disabled Persons
- Medicaid recipients
- Obese Persons
- Senior Citizens
- The Mentally Ill
- Uninsured or Underinsured