Pharmaceutical Drug Manufacturers

July 12, 2010- US healthcare industry is now a magnanimous industry and the largest in world's healthcare sector. In year 2007 the US healthcare industry stood at US$ 2.24 Trillion and since then there has been seen a growth in the expenses of hospital care, use of patent drugs and high administrative cost. The overall cost of hospital and nursing expenses in US has given a sideway to the low cost home care sector. US healthcare sector has numerous potential and still untapped.

Further according to the "US Healthcare Sector Forecast to 2012" report, it is expected that the US healthcare industry is spending and growing at 4% rate during 2007-2012. in case of the healthcare sector US spend more money person than any other country. Although all the population in US is not covered under the health insurance as 15.3% of population is completely uninsured and 35% is underinsured yet US is the third highest in highest public healthcare expenditure per capita.

Healthcare industry in US is largely private and out of which health insurance has the major part. According to the CIA World Factbook, US has been ranked at 41 position in terms of infant mortality rate and 46th for the total life expectancy. The cost of US healthcare industry is about $2 trillion per year. Out of this $600 billion that is 31% of the total goes into administration. This figure is $280 billion more than the amount that is spend by twenty one countries that have life expectancy more than US. $0 million people in America are without health insurance because of unemployment, low income and other reasons. So there is a huge scope for improvement in US healthcare industry.

US Healthcare Industry and Market

Most the US healthcare industry is made by health agencies, home care aid organizations and hospitals. There are close to 20,000 such organizations across the nation that are providing healthcare services to 8 million persons. This include persons suffering from acute illness, permanent or terminal illness and need long term medical care.

During the period of 1967 to 1985 the Medicare and Medicaid programs were the biggest source of paying these home healthcare agencies. The number of such agencies decreased during 1985 to 1990. But with a lawsuit favoring the National Association for Home Care, the number of Medicare increased from 5,793 in 1990 to 9,886 in 1996.

Major Segments of US Healthcare Industry

Healthcare industry in US is one of the major provider of job and wages. In 2008 it provided jobs to 14.3 million people. This sector is also one of the fastest growing sector so it is expected that it will generate more jobs in future. Although this industry is very vast but it can be divided into following major segments:

• Medical Equipment and Supplies
• Pharmaceutical Industry
• Healthcare Services Industry
• Biotechnology Industry
• Alternative Medication Industry
• Dietary Supplements Industry
• Hospital Furniture Industry
• Medical Instruments Industry
• Medicated Personal Care Product Industry
• Cleanrooms Industry
• Waste Management Plants and Equipment Industry
• Medical Clothing Industry
• Pharmaceutical Raw Materials Industry

Government Role in US Healthcare Industry

Government plays an important role in US healthcare industry by providing help to the elderly people, military service families, veterans and disabled. Federal laws in US ensures that every person has an access to the public emergency services whether they can pay or not.