Medical-Social Working Services Market Report 2024

This Medical-Social Working Services market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The medical-social working services market size has grown strongly in recent years. It will grow from $6.98 billion in 2023 to $7.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth during the historic period can be attributed to several factors such as increased recognition of mental health issues, a growing adoption of integrated care models, the development of the Person in the Environment (PIE) assessment system, rising demand for medical-social care, and an increase in cases of autism.

The medical-social working services market size is expected to see strong growth in the next few years. It will grow to $10.43 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth during the forecast period can be attributed to several factors such as changes in healthcare policy and reform, increased awareness of mental health, the rise of telehealth, the expansion of health insurance coverage, and a focus on preventive and proactive care. Major trends for the forecast period include technological advancements, mobile health applications (mHealth), the development of digital therapeutic solutions, blockchain technology, and the integration of environmental and social determinants.

The growing volume of patients is anticipated to drive the expansion of the medical-social working services market. This increase in patient volume is attributed to factors such as the aging population, rising prevalence of chronic diseases, and advancements in medical technology that enhance diagnosis and treatment, leading to greater awareness and access to healthcare services. Medical-social working services contribute to patient well-being by integrating medical care with social support, facilitating access to resources, and addressing both healthcare and social needs. For example, a report from the Australia Institute of Health and Welfare, published in August 2023, indicates that hospitalizations increased to 12.1 million from 2022 to 2023, marking a 4.6% rise compared to the 11.6 million recorded in the previous year, 2021 to 2022. Thus, the growing volume of patients is fueling the growth of the medical-social working services market.

Leading companies in the medical-social working services market are focusing on expanding their offerings by introducing innovative solutions, such as home healthcare initiatives, to provide comprehensive care management that integrates medical and social services. Home healthcare services include a range of medical and supportive care delivered at home, such as skilled nursing, therapy, personal care, and remote monitoring, aimed at improving patient health and independence. For instance, in July 2024, Star Health and Allied Insurance, an India-based health insurance company, launched a Home Healthcare Initiative to offer medical services directly to patients' homes across 50 cities and towns in India. This initiative includes nursing care and physiotherapy through partnerships with providers such as Care24 and Portea. Services are accessible via a toll-free number or the Star Health mobile app, covering conditions such as fever, acute gastroenteritis, urinary tract infections, and acute gastritis, with a cost structure for a five-day treatment package. This initiative aims to improve patient convenience and accessibility, reflecting the trend towards home-based healthcare solutions.

In December 2023, Max Healthcare, an India-based healthcare company, acquired Starlit Medical Centre Pvt. Ltd. for $112 million. This acquisition allows Max Healthcare to expand its presence in Tier I and II cities, especially in regions with developed healthcare ecosystems, and includes plans to upgrade facilities and introduce advanced medical technologies. This move is intended to enhance patient care and contribute to regional economic growth. Starlit Medical Centre Pvt. Ltd. is an operator of a medical center providing healthcare and medical-social working services in India.

Major companies operating in the medical-social working services market are UnitedHealth Group Incorporated, Cigna Corporation, Kaiser Foundation Health Plan Inc., Providence Health & Services Inc., Trinity Health Corporation, Fresenius Medical Care AG, Mayo Clinic Health System, Sutter Health, Universal Health Services Inc., Cleveland Clinic Foundation, DaVita Inc., Johns Hopkins University, Kindred Healthcare LLC, Memorial Sloan Kettering Cancer Center, Genesis HealthCare LLC, BrightStar Care Inc., VITAS Healthcare Corporation, LHC Group Inc., Amedisys Inc., Magellan Health Inc., CareMore Health.

North America was the largest region in the medical-social working services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical-social working services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the medical-social working services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medical-social working services encompass a field that integrates elements of healthcare and social services to support individuals facing various health and social challenges. These services employ a holistic approach to address both medical and social needs, ensuring comprehensive care and support.

The primary types of services in medical-social working include patient intake screening, patient counseling and education, discharge planning, patient advocacy, and other related services. Patient intake screening involves assessing and gathering essential information from patients upon their initial entry into a healthcare facility. The expenditure for these services can be divided between the public and private sectors and applies to various settings, including hospitals, nursing homes, assisted care facilities, residential treatment centers, and others. The end users of these services include females, males, and others.

The medical-social working services market research report is one of a series of new reports that provides medical-social working services market statistics, including medical-social working services industry global market size, regional shares, competitors with a medical-social working services market share, detailed medical-social working services market segments, market trends and opportunities, and any further data you may need to thrive in the medical-social working services industry. This medical-social working services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The medical-social working services market includes revenues earned by entities by providing services such as case management, resource navigation, crisis intervention, care coordination, and support groups. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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