Market Navigator: US Healthcare—Evolving To Become More Personalized and Consumer-Focused

Published – April 2024

Each Market Navigator report offers an in-depth, data-rich view of a retail, consumer or technology sector and is packed with data on sectors, segments, companies and consumers. Our analysts discuss at greater length the sector themes they are observing and the insights they are forming on their markets. We intend these definitive guides to serve as points of reference to those in the retail ecosystem, guiding readers’ strategic decision-making and assisting them in tapping opportunities and navigating disruption in retail and adjacent industries.

In this Market Navigator, Coresight Research explores the US healthcare market. Dive in today to gain insights into emerging ideas and opportunities, understand the growth trajectory of the market and explore the competitive landscape. You will discover key insights about market factors, consumer behavior and preferences—based on proprietary survey findings—the US macro context and more. We also discuss the themes we are watching in the market, aligning with our RESET framework. Key topics covered in this report include consumer-focused healthcare, emerging healthcare-related technologies, sustainability, weight-loss drugs, and the use of AI (artificial intelligence) in healthcare.

Included with this Market Navigator: 

• Grab quick access to charts, data points and conclusions in the presentation download
• Access the data behind key charts and tables in the Excel download

Data in this research report include:

• Market size and year-over-year growth rates, 2018–2028E
• Healthcare spending as a share of total US spending, 2012–2022
• Segment breakdowns by category and funding source, 2022
• US Consumer Price Index (CPI) for medical care commodities and medical care services, February 2023–February 2024
• Revenues and operating margins of leading companies from across the US healthcare market
• Proprietary survey data on where US consumers are shopping and what they are buying, as well as how they are changing their shopping habits in response to inflation

Introduction

What We Think

• Consumer-Centricity in the US Healthcare Market
• Increased Personalization in Healthcare
• Emerging Technology in Healthcare

Blue-Sky Thinking

• Future Pandemics
• Significant Advancements in Emerging Healthcare Technologies
• Continued Aging of the US Population

The US Healthcare Market

• Market Scale and Opportunity
• Segment Breakdown
• Market Factors

The Companies

• Competitive Landscape: Retailers
• Competitive Landscape: Brand Owners

Survey Analysis: Which Stores US Consumers Are Shopping From and What Are They Buying

Themes We Are Watching

• Responsive
• Engaging
• Socially Responsible
• Expansive
• Tech-Enabled

Global Observations and Learnings

• Global Observations
• Learnings from Our Global Observations

Technologies with Potential

• AI
• Technology Use Cases

Retail Innovators

• Vori Health
• Maven Clinic
• K Health

Macro Context

• Unemployment and Wages
• Real Disposable Income Per Capita
• Savings Rate
• Interest Rates and the Housing Market
• Gasoline Prices
• Consumer Spending

Notes and Methodology

Appendix: About the Coresight Research RESET Framework

43-page PDF report

Alibaba, Amazon, Best Buy, Cardinal Health, Cencora, Centene Corporation, Cigna Group, CVS Health, Elevance Health, Humana, McKesson Corporation, JD.com, Johnson & Johnson, Kroger, Rite Aid, Target, UnitedHealth Group, Walgreens Boots Alliance, Walmart

1. US Healthcare Market: Personal Healthcare Spending (Left Axis; USD Bil.) and YoY % Change (Right Axis)
2. US: Personal Healthcare Expenditure in Five-Year Intervals (Left Axis; USD Bil.) and Five-Year % Change (Right Axis)
3. US: Major Categories’ Share of Total US Spending (%)
4. US: Healthcare Categories’ Share of Personal Healthcare Spending (2022)
5. US: Healthcare Spending by Category (USD Bil.) and YoY % Change
6. US: Funding Sources’ Share of US Healthcare Spending (2022)
7. US: Healthcare Spending by Funding Source (USD Bil.) and YoY % Change
8. US CPI: All Items, Medical Care Commodities and Medical Care Services (%)
9. US Major Health-Sector Retailers: Healthcare Segment Revenues (USD Bil.; Ranked by 2023 Revenue)
10. US Major Health-Sector Retailers: Operating Margins (%)
11. US Major Health-Sector Brand Owners: Global Revenues (USD Bil.; Ranked by 2023 Revenue)
12. US Major Health-Sector Brand Owners: Operating Margins (%)
13. Respondents Who Purchased from a Drugstore or Pharmacy in the Three Months Prior to Our February 2024 Survey: Retailers Purchased From (% of Respondents)
14. Respondents Who Purchased from a Drugstore or Pharmacy in the Three Months Prior to Our February 2024 Survey: Categories Purchased (% of Respondents)
15. Projected Number of Children and Older Adults in the US, Total Number (Mil. of People) and Percentage of the US Population (%)
16. AI Technologies with Healthcare Potential
17. US Unemployment Rate (Left Axis; %) and US Average Hourly Wages (Right Axis; %)
18. US Real Disposable Income Per Capita: YoY Change
19. Personal Saving Rate (Left Axis; %) and YoY Change (Right Axis; PPTs)
20. New Housing Starts (Left Axis) and Case-Shiller Home Price Index (Right Axis)
21. US Regular All Formulations Gas Price (USD per Gallon; Left Axis)* and University of Michigan Consumer Sentiment Index (Right Axis)
22. US Real and Nominal Consumer Spending Growth (YoY % Change)