The healthcare sector provides medical services, manufacture medical equipment or drugs, provide medical insurance, or otherwise facilitate the provision of healthcare to patients.

The healthcare industry is composed of establishments devoted to the prevention, diagnosis, treatment, and rehabilitation of medical conditions. Such treatment may be through providing products or services and may be provided privately or publicly. The modern health care sector is divided into many sub-sectors and depends on interdisciplinary teams of trained professionals and paraprofessionals to meet the health needs of individuals and populations. The health care industry includes establishments ranging from small-town private practices of physicians who employ only one medical assistant to busy inner-city hospitals that provide thousands of diverse jobs.

The Healthcare industry is littered with risks and challenges as it is an industry that requires constant innovation under increased regulations.

There will be a huge demand for medical technology products for years to come.

The Global Industry Classification Standard and the Industry Classification Benchmark further distinguish the industry as two main groups:

  • Health care equipment and services.
  • Pharmaceuticals, biotechnology and related life sciences.