The fast-moving, lucrative niche of healthcare is poised to become one of the fastest-growing sectors of the global economy.
Analysts expect that the sector could generate $2 trillion of annual growth by 2021, while the US could generate another $600 billion in revenue in 2021.
But analysts say the industry faces a number of challenges.
It is not yet regulated by the government, and many health care professionals still don’t fully understand how the technology works.
The industry faces intense competition from new healthcare technology companies that offer cheaper products.
The sector also faces growing competition from specialty health care providers such as hospitals, dentists and physicians.
And the industry has faced many challenges.
Some major players are not well-regarded, like Pfizer, which is now on trial in Europe.
And a few big companies, including Bristol-Myers Squibb and Pfizer and its parent company AstraZeneca, have been embroiled in scandals and regulatory investigations that have made them difficult to operate.
There are some positives to the market.
Healthcare companies have been able to tap into an emerging segment of the population with the help of the internet.
People are getting healthier and better.
There is a sense of optimism about the future.
But the market is not ready for a $5 trillion healthcare sector, according to the Wall Street Journal.