The healthcare sector represents a significant and complex portion of the U.S. economy, comprising industries that provide medical services, manufacture medical equipment and drugs, or offer insurance. Accounting for 18% of the GDP in 2020, this sector is driven by strong demand due to medical research, development, and an aging population. Understanding its structure and economic influences, including government intervention and inelastic demand, is crucial for navigating potential economic issues and reform uncertainties.

Who We Serve (NAICS)

• 62: Health Care and Social Assistance 

• 621: Ambulatory Health Care Services: 

  • 6211: Offices of Physicians 

  • 6212: Offices of Dentists 

  • 6213: Offices of Other Health Practitioners 

  • 6214: Outpatient Care Centers 

  • 6215: Medical and Diagnostic Laboratories 

  • 6216: Home Health Care Services 

  • 6219: Other Ambulatory Health Care Services 

Practitioners/Professionals:

·       Physicians

·       Nurse practitioners

·       Registered nurses

·       Therapists

·       Pharmacists

·       Dentists

·       Specialists (e.g., cardiologists, dermatologists)

·       Other allied healthcare professionals

The global beauty and personal care products —defined as skincare, fragrance, makeup, and haircare—generated market size was worth around USD 601.39 Billion in 2024 and is predicted to grow to around USD 1232.57 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 7.44% between 2025 and 2034.

The US beauty market is expected to reach US$104.74bn in 2025, with 2.90% annual growth, and 56.9% online sales. Personal care is the largest segment.

Today, beauty is on an upward trajectory across all categories. It has proven to be resilient amid global economic crises and in a turbulent macroeconomic environment. It is expected to reach approximately $580 billion by 2027, growing by a projected 6 percent a year.

Who We Serve (NAICS)

SERVICES: (NAICS 8121)

• 8121: Personal Care Services (The overall category)

• 81211: Hair, Nail, and Skin Care Services (Includes the subcategories below)

• 812111: Barber Shops

• 812112: Beauty Salons (Hair cutting, styling, coloring, facials, makeup application)

• 812113: Nail Salons

• 81219: Other Personal Care Services (Includes services not covered in other subcategories, like day spas, hair removal, tanning, and tattooing)

RETAILING: (NAICS 456120)

• 456120: Cosmetics, Beauty Supplies, and Perfume Retailers (For businesses that primarily sell beauty products directly to consumers)

Practitioners/Professionals:

·       Aestheticians

·       Barbers

·       Hairstylists

·       Cosmetologists

·       Fitness trainers

·       Funeral service workers

·       Laser technicians

·       Manicurists & pedicurists

·       Skincare specialists