2020
9
Changing Face of US Healthcare Market Report 2020
2020-12-02T03:03:57+00:00
OX987092
3695
128216
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Report
en_GB
“COVID-19 has drastically changed how adults interact with the US healthcare system, as well as what adults expect from healthcare brands. The pandemic has expedited certain trends within the healthcare…

Changing Face of US Healthcare Market Report 2020

£ 3,695 (Excl.Tax)

Description

Providing the most comprehensive and up-to-date information and analysis of the Changing Face of the U.S Healthcare market including the behaviours, preferences and habits of the consumer.

During the initial lockdown phase of COVID-19, stay-at-home measures and business closures to limit the spread of COVID-19 halted elective and non-emergency medical services. Healthcare brands and services embraced digital platforms and evolved to answer consumer needs. As COVID-19 persists, adults are adopting new expectations of trust, safety, transparency and adaptability from healthcare brands. Services able to meet shifting demands as well as establish trusting relationships with consumers will thrive as valued partners in health management.

View the US Changing Face of Healthcare report on the US Store. 

Quickly understand

  • The impact of COVID-19 on professional healthcare services and personal health management.
  • Overview of US healthcare and impact of employment rates on consumer wellbeing.
  • Using telehealth to improve communication strategies.
  • Alternative healthcare services have opportunity to improve perceptions of cost.
  • Brands must prioritize consumer standards of personal health safety.

Covered in this report

Topics discussed: Consumer trust in the US healthcare system; Consumer trust in various healthcare providers and services, Credible resources for health management; Ideal attributes of a routine health visit; Trial and interest in routine healthcare services; Attitudes toward the healthcare experience and use of technology in healthcare.

Expert analysis from a specialist in the field

Written by Andrea Wroble, a leading analyst in the Health and Wellness sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

COVID-19 has drastically changed how adults interact with the US healthcare system, as well as what adults expect from healthcare brands. The pandemic has expedited certain trends within the healthcare space, such as the use of virtual care tools for primary care, improved accessibility to mental health resources and retail health brands offering wellness services. The industry must adapt to long-term shifts in consumer behavior, including expectations of personal health safety and the need for honest/transparent communication.


Andrea Wroble
Senior Research Analyst, Health and Wellness

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Definition
    • COVID-19: market context
  2. Executive Summary

    • Top takeaways
    • Impact of COVID-19 on consumer approach to healthcare
    • Some adults are deprioritizing healthcare expenses
    • Perceptions of telehealth are improving
    • Trust in government health departments is declining
    • Adults may be more willing to share health data for the greater good
      • Figure 1: Short-, medium- and long-term impact of COVID-19 on professional healthcare services and at-home personal health management, November 2020
    • Opportunities and challenges
    • Telehealth has opportunity to add to communication strategies
      • Figure 2: Attitudes toward the healthcare experience, September 2020
    • Cost is a barrier to engaging with healthcare services
      • Figure 3: Trial and interest in routine healthcare services, by financial health, September 2020
    • Consumers want more control
      • Figure 4: Ideal routine health visit experience, September 2020
  3. Market – Key Takeaways

    • Most Americans have health insurance
    • Older adults are shifting healthcare ownership
    • Workplace wellness is a necessity
    • US healthcare market sees drastic changes in light of COVID-19
    • Honesty is the key to building trust
    • Consumers expect their safety to be prioritized
  4. Snapshot of US Healthcare

    • Majority of US adults have health insurance; Medicare’s role increasing
      • Figure 5: Health insurance source, 2019, 2018, 2017
    • Aging population shifts healthcare ownership
      • Figure 6: Projected age groups of US population, 2016-35
    • Unemployment rates are improving, necessitating workplace wellness
      • Figure 7: Unemployment rates of US adults aged 16+, seasonally adjusted, January-October 2020
    • Medicare coverage is a welcomed transition for adults aged 65+
      • Figure 8: Medicare coverage, by younger and older Baby Boomers, January 2020
    • Impact of COVID-19 on consumer approach to healthcare
    • Some adults are deprioritizing healthcare expenses
    • Perceptions of telehealth are improving
    • Trust in government health departments is declining
    • Adults may be more willing to share health data for the greater good
      • Figure 9: Short-, medium- and long-term impact of COVID-19 on professional healthcare services and at-home personal health management, November 2020
    • Lockdown
    • Re-emergence
    • Recovery
    • COVID-19: US context
    • Learnings from the last recession
    • Consumers may be relying more on OTC products
    • Chronic health consumers support medical spending during recessionary times
  5. Market Factors

    • Financial uncertainty impacts health insurance and medical services
    • Health-related misinformation amplifies consumer insecurities
  6. Market Opportunities

    • Seamless communication can improve engagement
      • Figure 10: Attitudes toward the healthcare experience, September 2020
    • Utilize informal resources to reach younger age groups
      • Figure 11: Credible resources for health management, by age, September 2020
      • Figure 12: Lululemon online book club, August 2020
    • COVID-19 emphasizes the importance of adaptation
      • Figure 13: Ideal routine health visit experience, September 2020
    • Adults working at home want healthcare close to home
  7. Companies and Brands – Key Takeaways

    • Membership programs offer high engagement with consumers
    • Virtual healthcare gains momentum for mental health and Medicare
    • Retail health brands take ownership over wellness
  8. Competitive Strategies

    • Membership services merge physical and digital health approaches
      • Figure 14: Forward health digital app, March 2020
    • Virtual healthcare services make mental health care more accessible
      • Figure 15: Real mental health care, March 2020
      • Figure 16: Better help mental health app, August 2020
    • Expanded Medicare services broadens telehealth reach with Boomers
    • CVS builds influence as a partner in wellness
      • Figure 17: CVS Pharmacy Live Better campaign, October 2020
  9. The Consumer – Key Takeaways

    • There is trust in the US healthcare system to build on
    • Digital health management has gained momentum with consumers
    • Tailored interactions are viewed as the most credible
    • Healthcare brands must adapt to shifting consumer needs
    • Alternative healthcare facilities can own wellness
    • Virtual care has a place in medical communication strategy
  10. Trust in the US Healthcare System

    • Americans are cautiously trusting of the US healthcare system
      • Figure 18: Trust in the US healthcare system, September 2020
    • Combat mistrust by emphasizing respect and empathy with Black adults
      • Figure 19: Trust in the US healthcare system, by race and Hispanic origin, September 2020
    • Employment impacts perception of healthcare system
      • Figure 20: Trust in the US healthcare system, by employment status, September 2020
  11. Trust in Healthcare Providers and Services

    • Digital health management methods grow legitimacy
      • Figure 21: Trust in healthcare providers and services, September 2020
    • Parents hold positive perceptions of key healthcare providers and services
      • Figure 22: Trust in select healthcare providers and services, by parental status, September 2020
  12. Attributes of a Trustworthy Healthcare Brand

    • Gaining consumer trust requires a multi-pronged approach
      • Figure 23: Important attributes to consider a healthcare brand trustworthy, September 2020
    • Multicultural consumers view respect as a pillar of trust
      • Figure 24: Important attributes to consider a healthcare brand trustworthy, by race and Hispanic origin, September 2020
  13. Credible Resources for Health Management

    • Medical care perceived as tailored gains stamp of credibility
      • Figure 25: Credible resources for health management, September 2020
    • Representation and community are influential for LGBTQ+ consumers
      • Figure 26: Credible resources for health management, by LGBTQ+ and non LGBTQ+, September 2020
      • Figure 27: hims Instagram campaign
    • Young adults find credibility in convenience
      • Figure 28: Credible resources for health management, by age, September 2020
  14. Ideal Routine Health Visit Experience

    • Growing importance of safety is a reminder to stay current with trends
      • Figure 29: Ideal routine health visit experience, September 2020
    • Virtual health can win consumers through a targeted approach
      • Figure 30: Interest in virtual health consultations/telehealth, by important attributes of routine health visit experience, September 2020
  15. Trial and Interest in Routine Healthcare Services

    • When managing health, consumers stick with what they know
      • Figure 31: Trial and interest in routine healthcare services, September 2020
      • Figure 32: CVS Pharmacy Live Better campaign, October 2020
      • Figure 33: CVS Pharmacy Takeover Tuesday Stories, November 2020
    • Position concierge services as medical lifestyle brands
      • Figure 34: Trial and interest in concierge medical practices, by age, September 2020
      • Figure 35: One Medical primary care membership program, January 2019
    • Healthcare services must shift perceptions of cost
      • Figure 36: Trial and interest in routine healthcare services, by financial health, September 2020
  16. Attitudes toward the Healthcare Experience

    • Healthcare providers must emphasize streamlined access to care
      • Figure 37: Attitudes toward the healthcare experience, September 2020
    • Reliance on technology improves health tech landscape
      • Figure 38: Attitudes toward the healthcare experience, September 2020 vs September 2016
    • Target female lifestages and men’s health through virtual consults
      • Figure 39: Attitudes toward virtual healthcare experiences, by gender and age, September 2020
  17. Appendix – Data Sources and Abbreviations

    • Data sources
    • Consumer survey data
    • Abbreviations and terms
    • Abbreviations

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

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*databooks not available with UK B2B Industry reports.

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