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Industry Landscape
The U.S. public health and human services sector is currently undergoing significant transformation, driven by a focus on fiscal responsibility, deregulation, and a consumer-centric approach. Key trends include efforts to control healthcare costs, particularly drug pricing, and a shift towards preventative health and transparency. There's also a strong emphasis on protecting vulnerable populations and leveraging scientific advancements for public benefit, alongside a push for administrative restructuring and efficiency.
Total Assets Under Management (AUM)
Total Healthcare Expenditure in United States
~Approximately $4.5 trillion (2022 est.)
(Not provided CAGR)
- US healthcare spending reached $4.5 trillion in 2022.
- Projected to grow at an average annual rate of 5.4% through 2031.
- Expected to reach nearly $7.2 trillion by 2031.
Total Addressable Market
7.2 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Diagnostics & Personalized Medicine
Artificial intelligence and machine learning are enabling more accurate and early disease diagnosis, and tailoring medical treatments to individual patient profiles based on genetic, environmental, and lifestyle factors.
Telehealth & Remote Patient Monitoring
Advances in digital communication and wearable sensors facilitate virtual consultations and continuous health data collection from patients' homes, expanding access to care and enabling proactive health management.
CRISPR Gene Editing
CRISPR technology allows for precise modification of DNA, offering unprecedented potential for treating genetic diseases, developing new therapies, and advancing understanding of biological processes.
Impactful Policy Frameworks
Efforts to control healthcare costs, particularly drug pricing (Ongoing)
HHS is actively working on initiatives such as 'most-favored-nation' pricing and ensuring affordability in ACA Marketplace plans to reduce the financial burden of healthcare on Americans.
This directly impacts pharmaceutical companies and insurance providers by putting downward pressure on prices and potentially affecting profit margins, while benefiting consumers through lower out-of-pocket costs.
Overhaul of FDA's 'Generally Recognized as Safe' (GRAS) designation for food ingredients (Ongoing)
HHS is reviewing and updating the FDA's GRAS designation process for food ingredients, aiming to enhance food safety and public trust.
This impacts food manufacturers by requiring re-evaluation and potential reformulation of products, and consumers through potentially safer food options.
Emphasis on 'Radical Transparency' regarding potential conflicts of interest and chemical contaminants (Ongoing)
HHS is implementing a policy of 'Radical Transparency' to provide public access to information about potential conflicts of interest within its agencies and data on chemical contaminants.
This impacts regulated industries by increasing scrutiny and accountability, and consumers by providing them with more information to make informed decisions about their health and safety.
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