How much is the elective healthcare services market worth, and how is it expected to expand?
The elective healthcare services market size has grown strongly in recent years. It will grow from $1419.76 $ billion in 2024 to $1552.73 $ billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to rising aging population, growing awareness of health and wellness, improved healthcare infrastructure, a rise in medical tourism, increasing accessibility to elective procedures.
The elective healthcare services market size is expected to see strong growth in the next few years. It will grow to $2191.57 $ billion in 2029 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to rising demand for minimally invasive procedures, the expansion of healthcare facilities, a growing middle-class population, enhanced insurance coverage for elective procedures, and an increased focus on personalized medicine. Major trends in the forecast period include growth in virtual healthcare services, increasing popularity of non-surgical aesthetic procedures, expansion of home healthcare services, development of smart medical devices, and advances in telemedicine.
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Which industry factors have accelerated the elective healthcare services market’s expansion?
The rising adoption of virtual care alternatives is expected to propel the growth of the elective healthcare services market going forward. Virtual care alternatives encompass a range of healthcare services delivered remotely through digital communication tools, such as telemedicine, mobile health apps, and online patient portals, allowing patients to consult with healthcare providers without physical visits. The increase in virtual care alternatives is driven by advancements in technology and the growing demand for accessible, convenient healthcare solutions, especially during the COVID-19 pandemic. Elective healthcare services require virtual care alternatives to increase accessibility, convenience, and efficiency for patients seeking non-urgent medical treatments. For instance, in October 2022, according to a report published by the Centers for Disease Control and Prevention, a US-based government agency, 37.0% of adults reported using telemedicine services within the past 12 months in 2021. Women were more likely to use telemedicine, with 42.0% having utilized these services compared to 31.7% of men. Additionally, telemedicine usage positively correlated with age, increasing from 29.4% among adults aged 18-29 to 43.3% among those aged 65 and above. Therefore, the rising adoption of virtual care alternatives is driving the growth of the elective healthcare services market.
What are the primary segments of the elective healthcare services market?
The elective healthcare servicesmarket covered in this report is segmented –
1) By Type: Aesthetic Services, Apnea, Gastrointestinal Disorder, Allergies, Pain Management, Weight Loss, Other Types
2) By Application: Medical Centers, Hospitals, Clinics, Ambulatory Centers
3) By End User Gender: Male, Female
Subsegments:
1) By Aesthetic Services: Cosmetic Surgery, Non-Surgical Aesthetic Treatments, Skin Rejuvenation
2) By Apnea: Sleep Apnea Treatments, Home Sleep Apnea Testing, Weight Management Programs For Apnea, Lifestyle Counseling And Behavioral Therapy
3) By Gastrointestinal Disorders: Diagnostic Procedures, Surgical Procedures, Medical Treatment
4) By Allergies: Allergy Testing, Allergy Immunotherapy, Medication Management, Respiratory Allergy Management
5) By Pain Management: Interventional Procedures, Physical Therapy And Rehabilitation, Pharmacologic Management, Alternative Treatments
6) By Weight Loss: Surgical Weight Loss, Non-Surgical Weight Loss, Physical Activity Programs
7) By Other Types: Orthopedic Procedures, Cardiovascular Procedures, Fertility Services, Dental Procedures, Vision Correction
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Which firms are leading the elective healthcare services market?
Major companies operating in the elective healthcare services market are HCA Healthcare Inc., Tenet Healthcare Corp., Mayo Clinic, Sutter Health, LifePoint Health Inc., Universal Health Services Inc., Cleveland Clinic, Johns Hopkins Medicine, Integrated Healthcare Holdings (IHH) Bhd, UMass Memorial Health Care Inc., Healthscope Pty Ltd., Surgical Care Affiliates (SCA), Geisinger Medical Center, Catholic Health Initiatives (CHI), Tufts Medical Center Parent Inc., Pristyn Care, Fortis Healthcare Ltd., Mykare Health, Moorfields Eye Hospital NHS Foundation Trust, Glamyo Health, Medfin India Pvt. Ltd.
Which market trends are set to define the future of the elective healthcare services market?
Major companies operating in the elective healthcare services market are developing AI-powered diagnostics and treatment planning, such as AI assistants, to enhance efficiency, provide personalized support, and facilitate access to medical information and services through automated, data-driven interactions. AI assistants are intelligent software applications designed to perform tasks, provide information, and assist users through natural language processing and machine learning. For instance, in March 2024, Salesforce Inc., a US-based software company, launched Einstein Copilot, a healthcare AI assistant. Einstein Copilot is a conversational AI assistant designed to leverage a healthcare organization’s private data to streamline operations. It enables providers and care teams to capture and summarize information from various clinical and nonclinical sources, update patient and member details, and automate manual tasks. With Einstein Copilot, providers can generate comprehensive patient summaries that include medications, diagnoses, social determinants, assessments, and care gaps. Additionally, care managers can utilize the AI to locate in-network providers based on location, specialty, and plan coverage and automatically complete electronic referral forms using natural language prompts integrated into their workflow.
Which geographic trends are shaping the elective healthcare services market, and which region has the highest market share?
North America was the largest region in the elective healthcare services market in 2024. The regions covered in the elective healthcare services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Elective Healthcare Services Market Report 2025 Offer?
The elective healthcare services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Elective healthcare services refer to medical procedures and treatments that are not urgent or immediately necessary to maintain life or health but are chosen by the patient. These services can often be scheduled in advance, allowing patients to plan their personal and professional lives. Elective procedures are typically performed to enhance quality of life, improve appearance, or address non-life-threatening medical issues.
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