$9.59 T Global Healthcare Market Attracts New Entrepreneurs

Tuesday, March 10, 2015

Business opportunities are attracting entrepreneurs to the $9.59-trillion global healthcare market in both developed and developing countries, according to a new report issued recently by PwC.

The report, “Global health’s new entrants: Meeting the world’s consumer,” shows how new entrants – companies around the globe whose core businesses reside entirely outside of the health space or are expanding into new health roles – are pioneering pathways into virtual healthcare, more affordable and convenient care options, wellness and fitness, and more.

PwC says these disruptive, entrepreneurial arrivals to the health sector have the potential to capture tens of billions of dollars in revenue currently going to traditional healthcare players in countries across the world.

“New entrants are disrupting the healthcare industry globally and are helping to spur the rise of a new kind of healthcare consumer,” said Vaughn Kauffman, PwC’s Global Health New Entrants leader.

In emerging markets surveyed (Brazil, China, India, South Africa, Turkey), 54 percent of respondents expect that mHealth (mobile health) applications/services will improve the quality of healthcare they receive in the next three years.

n the US, 64 percent of respondents were open to trying new, non-traditional ways of seeking medical attention and treatment if the price was right.

Four key themes are explored in global health’s new entrants:

Source: Enterprise Innovation (link opens in a new window)

Health Care