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2024 Global health care sector outlook
Navigating transformation
The global health care sector once again faces a year of unprecedented transformation and challenges. Providers worldwide continue to confront the lingering effects of the COVID-19 pandemic, which has led to widespread labour shortages and rising costs. At the same time, health inequities persist that could further add to the challenges and costs the sector faces in 2024.
The integration of artificial intelligence (AI) and machine learning technologies can play a key role in addressing these issues and inequities, if providers work to earn patients’ trust and ensure that they take steps to mitigate bias within the technology.
Key highlights
In this 2024 outlook, we examine how the future of global health care is likely to be shaped by the following five trends:
Transforming health care with AI
AI has the potential to transform health care by streamlining administrative functions and expanding care delivery, and bringing financial and non-financial benefits for the global health system. However, companies must take steps to ensure AI is deployed responsibly and that its use and processes are transparent, auditable, and trustworthy.
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Addressing cost and affordability
The cost of health care continues to define the quality, access, and affordability of health services, and traditional cost-cutting may no longer be enough. Instead, providers should consider more affordable and efficient models for access, some of which are being delivered through technology and other innovations.
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Responding to the looming global shortfall in health care workers
The labour shortage challenge is profound – and global. Even with labour-saving technology such as AI, demand for health workers is expected to surge by 29% in the decade between 2020 and 2030. Meeting this demand requires the industry to transform care models, redesign jobs, and rethink employer-employee interaction.
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The role of social care
To address rising costs, health care providers, governments, and stakeholders are shifting from a traditional focus on treating illnesses through medical specialists and health centres post hoc, to models that integrate health and social care services with the private and non-profit sectors to achieve a prevention focused, “whole health” model.
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A sustainable future
The health care sector is susceptible to many of the effects of climate change—for the patients who receive care, as well as the organisations that deliver it. Health care systems around the globe are building more sustainable operations by prioritising energy efficiency within their clinical care systems, accelerating their decarbonisation efforts, and encouraging the development of sustainable supply chains.
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