Statistics That You Must Know About The USA Health Care Industry In 2020

Some of the statistics that must know about the USA Health Care Industry in 2020:

• The global health industry was worth $8.45 trillion in 2018.
• Global healthcare spending could reach over $10 trillion by 2022.
• The US has the greatest healthcare spending, sitting at $10,224 per capita.
• The US spends twice what other countries do on healthcare.
• There are 784,626 companies in the US healthcare sector.
• McKesson is the biggest US healthcare company with annual revenue of $208.3     billion.
• The internet of things (IoT) can lower the costs of operational and clinical inefficiencies by $100 billion per year.
• 64% of physicians believe the IoT can help reduce the burden on nurses and doctors.
• The reason for the loss of manufacturing and the loss of wealth because the overall United States trade deficit shrank last year for the first time in six years as the American economy cooled, domestic oil production soared and President Trump waged an aggressive global trade war to rewrite America’s trading terms.
• Both imports and exports fell as American factory activity slowed and businesses and consumers felt the impact of tariffs imposed on China, the European Union, Canada, Mexico, and other nations. Total American exports dropped $1.5 billion to roughly $2.5 trillion, while imports fell from $12.5 billion to $3.1 trillion.
• Soaring domestic oil production was a major factor in the shrinking trade deficit, cutting into imports of foreign crude oil by $30.3 billion last year. Exports of civilian aircraft also fell $12.6 billion last year, reflecting the fallout from the deadly crashes of Boeing’s 737 Max airplanes.
• Manufacturing productivity in the U.S. is rated very high, but it is a false indication of the manufacturing industry. The increase in productivity has been attributed to the use of new automated manufacturing methods, but in reality, it may be caused by the removal of marginal profitable manufacturing goods, being produced in other countries, from the equation. The country has moved into producing larger costly products like planes, trains, trucks, cars, etc., but the majority of consumer goods come from other countries.