The healthcare industry has received tremendous investments from public and private sectors to address pandemic-driven challenges over the past two years. Global health innovation funding totaled a record $44 billion in 2021, up 100% year-over-year. Furthermore, global health innovation funding has increased 20 times over the past 10 years.
With a rising elderly population, an increasing prevalence of chronic diseases, and new COVID-19 variants popping up, the demand for quality medical care facilities is expected to rise over the long term. According to the Centers for Medicare and Medicaid Services, the U.S. national healthcare expenditure is estimated to reach $6.2 trillion by 2028.
