Healthcare Industry Outlook 2019
The healthcare industry is one of the fastest growing industries. It’s projected to grow 18% from 2016-2026. The growth is stemming from an aging population leading to higher demand for healthcare services.
The U.S. Bureau of Labor Statistics estimates that roughly 2,400,000 new healthcare jobs will be created before 2026. Many of these new jobs are to service the elderly population. Positions that are expected to grow are registered nurses, aides, occupational and physical therapists.
Jobs With Most Growth in Industry
Baby boomers are contributing once again to the largest growth segment in the healthcare industry. In home healthcare services which momentarily lost it’s popularity is making a comeback in a large way. Below are the top healthcare jobs with the most projected growth.
- Home health aides (47% growth rate)
- Personal care aides (39% growth rate)
- Physician assistants (37% growth rate)
- Nurse practitioners (36% growth rate)
Salary & Wages
Because there are so many jobs in the healthcare industry we’ll split this section into two groups. The median annual wage for healthcare practitioners and technical occupations (such as registered nurses, physicians and surgeons, and dental hygienists) was $64,770 in May 2017, which was higher than the median annual wage for all occupations in the economy of $37,690. However, healthcare support occupations (such as home health aides, occupational therapy assistants, and medical transcriptionists) had a median annual wage of $28,710 in May 2017, lower than the median annual wage for all occupations in the economy. The higher paying jobs within the industry require a Master’s degree. The mean annual salary of professionals with a Medical Degree was $178,856 according to glassdoor.
Is The Healthcare Industry Right For You?
In many industries there is overwhelming worry about artificial intelligence and automation taking over the workforce. If you are pursing or currently working in the healthcare industry you can rest assured knowing that automation is far away from taking over the human interaction required for the field. The industry is the fastest growing industry in the United States for a reason. No matter what type of personality you have, you can build a career in healthcare.