Dublin, Aug. 27, 2024 (GLOBE NEWSWIRE) -- The "Cardiologists in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
industry revenue is projected to grow at a CAGR of 1.3%, reaching $59.6 billion in 2024, with a slight gain of 0.1% in 2024 alone and profit anticipated to be 14.8% of revenue.
The growing burden of heart disease has increased demand for cardiologists as it remains the leading cause of death in the US. The aging population has led to a rise in cardiovascular disease prevalence, as older adults are more prone to heart-related conditions. Rising obesity rates among adults and children have exacerbated heart conditions. Additional trends and insights available with purchase
Economic factors quickly supported funding for pent-up demand for cardiologist services, which the pandemic temporarily suppressed. Rising per capita disposable income, increased government funding for Medicare and Medicaid and modest growth in the number of individuals with private health insurance bolstered reimbursements and payments to cardiologists. Also, the aging population and new demand from long COVID cases positively influenced the need for services. With public health campaigns (CDC) focused on heart health during the pandemic and after spurring awareness and advocating preventative measures,
Trends and Insights
- Consumers are flocking to cardiologists due to several key factors.
- An aging population, increasing obesity rates, lingering pandemic-related healthcare needs and the cardiovascular effects of long COVID have all significantly boosted demand for these services.
- Nearly 90% of adults, regardless of gender, seeking cardiologist services are 60 or older, highlighting this age group's critical focus on heart health.
- Cardiologists favor densely populated areas with robust healthcare services.
- Hospitals, healthcare institutions and universities provide larger client pools, referrals and vibrant research opportunities with expanded funding options.
- The importance of a skilled workforce spurs concentration and competition.
- Cardiologists cluster around clients, hospitals and universities, increasing competition for workers and referrals in these saturated markets.
- Economic factors are the underlying cause of revenue growth and fluctuations in stability
- Cardiologist industry revenue is expected to follow a positive growth trend. Volatility in unemployment rates influencing insurance coverage will change the financial burden on patients seeking specialized care, but other positive economic factors will ensure overall revenue growth.
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/vl7hnx
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