Dr. Jeffrey Sterling, Chairman
The healthcare industry (also called the medical industry or health economy) 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. It includes the generation and commercialization of goods and services lending themselves to maintaining and re-establishing health. The modern healthcare industry includes three essential branches which are services, products, and finance and may be divided into many sectors and categories and depends on the interdisciplinary teams of trained professionals and paraprofessionals to meet health needs of individuals and populations.
The healthcare industry is one of the world’s largest and fastest-growing industries. Consuming over 10 percent of gross domestic product (GDP) of most developed nations, health care can form an enormous part of a country’s economy.
The beauty industry is, in fact, quite broad: it includes both services (such as hairdressers, barbers, etc.) as well as products. In the United States alone, the beauty services sector employs over 670,000 people, and its job growth outlook is “faster than average” according to USA Bureau of Labor Statistics (BLS) data at a rate of 13% (2016-2026). According to a study, it was worth $532.43 billion in 2017 and is expected to reach a market value of $805.61 billion by 2023.