to which sector does health care belong?

The health industry (also called the medical industry or health economics) is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative and palliative care. This sector is further composed of many actors, including over-the-counter medicines and pharmacies, prescription medicines, biopharmaceuticals, generic medicines, pharmaceutical packaging and labelling services, dietary fibre supplement manufacturing, vitamin and supplement manufacturing, cough and cold medicine manufacturing, health shops and eyeglass and contact lens shops, etc. Consequently, health professionals are expected to act as principals on behalf of the agent (the general population without specialised knowledge). The health and public health sector relies heavily on other sectors for business continuity and service delivery, such as communications, emergency services, energy, food and agriculture, information technology, transport systems, and water and wastewater systems.

All industries in the sector have this process in common, i.e. the provision of a workforce of health professionals or social workers with the necessary skills. It is not surprising that developments in the health field are often used to draw the line between a developing and a developed country. The health and social care sector is part of the education and health services supersector.

The health care and public health sector protects all sectors of the economy from hazards such as terrorism, infectious disease outbreaks and natural disasters. Even with the inherent risks involved, the healthcare sector can be a safe haven and growth opportunity for investors. These industries manufacture and market licensed medicines that are effective in improving healthcare facilities. In addition, healthcare is a highly specialised field that only professionals in the sector have in-depth knowledge of.

Many of the industries within the sector are defined by the level of education of the professionals within them. The healthcare sector contains a wide variety of industries, with activities ranging from research to manufacturing to facility management. The healthcare sector benefits from a strong medical research and development system, in cooperation with the higher education system and the technology industry. Hospitals and health systems continuously change their service offerings and respond to various internal and external forces, such as reimbursement issues, technological advances and changes in the population they serve.

This segment deals with actors that provide health insurance or different types of services to patients or other actors in the medical sector. Companies that provide health insurance and other types of services to patients or other medical sectors fall into this segment.

Samuel Krejsa
Samuel Krejsa

Freelance zombie maven. Subtly charming internet advocate. Friendly internet specialist. Amateur entrepreneur. Friendly social media aficionado.