Medicare and Medicaid Market Set to Witness Explosive Growth by 2030

According to the Market Statsville Group (MSG), the global medicare and medicaid market is estimated to grow at a CAGR of 11.9% from 2022 to 2030. Medicare is a federal program or service that offers health coverage to people aged 65 and above and those under 65 with a disability, regardless of their income. Medicaid is a federal or state program that provides health coverage if you have a very low income. The growing prevalence of chronic diseases, rising population, and others drive the markets’ growth. Advancing technologies to enhance the documentation process and improve operations will create lucrative opportunities for the market’s growth in forthcoming years across the globe.

COVID–19 Impact on the Global Medicare and Medicaid Market
COVID-19 positively impacted the market’s growth as people opted more for medicare or medicaid services to ensure their well-being and enhance their quality of life. It also managed the treatment of low-income people during the pandemic and covered COVID-19 treatment. Further, it is being implemented in many emerging economies to provide ease of treatment to low-income people.

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Scope of the Global Medicare and Medicaid Market

The study categorizes the medicare and medicaid market based on type, disease, and end-users at the regional and global levels.

By Type Outlook (Sales, USD Million, 2017–2030)
Medicare
Medicaid
By Disease Outlook (Sales, USD Million, 2017–2030)
Chronic
Disability
Accident
Other
By End-users Outlook (Sales, USD Million, 2017–2030)
People above 65 of age
People below 65 with disability
Low-income class
Others
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By Region Outlook (Sales, USD Million, 2017–2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic