US spending on medical services will increase nearly 10% in 2022

COVID case, inflation supports face value gains

CLEVELAND , September 29, 2022 /PRNewswire/ — Spending on medical services in the United States is expected to grow 7.2% annually in nominal dollars through 2026, according to Medical services: United States, a report recently published by Freedonia Focus Reports. Medical service providers stand to benefit from continued growth in consumer incomes and an expected increase in the number of chronic diseases driven by the aging US population. In addition, inflation is expected to be an important component of nominal health spending growth. Faster gains in nominal terms will be limited by efforts to limit health care spending growth by public and private health insurance plans, state and federal government agencies, and employers who purchase health insurance.

In 2022, spending on medical services is expected to increase by 9.9% thanks to strong capacity utilization at the start of the year due to the Omicron wave of COVID-19. Additionally, as cases declined in the spring of 2022, many people returned to regular routine medical care based in doctors’ offices and outpatient clinics which may have been postponed due to the high spread of COVID-19 more early in the year as well as in previous years. High inflation across the economy and labor shortages facing medical service providers will contribute to large increases in spending in 2022.

This and other key information is presented in Medical services: United States. This report forecasts through 2022 and 2026 U.S. medical services spending in nominal U.S. dollars and patient activity volumes. Total spend is segmented by supplier in terms of:

  • hospital
  • doctor and clinic
  • dental
  • other professional providers (e.g. chiropractors, speech therapists)
  • nursing and continuing care facilities for retirees
  • home care
  • other providers such as assisted living facilities, community centers and residential facilities for people with intellectual and developmental disabilities

Patient activity volumes are provided as follows:

  • doctor’s office visits
  • dental office visits
  • hospital outpatient facility visits
  • emergency hospital visits
  • Hospital admission
  • outpatient surgeries
  • hospital-based surgeries

To illustrate historical trends, total expenditures, various expenditure segments and various measures of patient activity are provided in annual series from 2011 to 2021.

More information on the report is available at:
https://www.freedoniafocusreports.com/Medical-Services-United-States-FF95014/?progid=91541

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus reports, providing up-to-date, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, the Focus report’s coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Healthcare and Biotechnology reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

The analysis is intended to guide the busy reader through relevant topics in quick succession, including:

  • total historical market size and industry production
  • segmentation by products and markets
  • identification of market drivers, restraints and key indicators
  • outlook segment by segment in 5-year forecasts
  • supply base survey
  • suggested resources for further study

Press contacts:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group