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Increased voluntary contributions are expected to drive the demand for the voluntary health organizations market. Voluntary health organizations generate their revenue primarily from voluntary contributions from the general public, which are to be used for general or specific purposes that are connected with health, welfare, or community services. For instance, the total voluntary contributions to the WHO (World Health Organization) in 2018 amounted to $2.2 billion. Additionally, WHO received $615 million in 2018 for the outbreak and crisis response. Therefore, a growing number of voluntary contributions from the general public are predicted to fuel the demand for the voluntary health organizations market. This is in part due to the introduction to online fundraising in the industry.
The voluntary health and charitable organizations market consists of sales of voluntary health services by entities (organizations, sole traders and partnerships) that are engaged in raising funds for health-related research such as disease prevention (heart disease, cancer, diabetes, and others), health education, and patient services. Only goods and services traded between entities or sold to end consumers are included.
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The global voluntary health organizations market is expected to grow from $46.28 billion in 2020 to $47.61 billion in 2021 at a compound annual growth rate (CAGR) of 2.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $63.5 billion in 2025 at a CAGR of 7.5%.
The major players covered in the voluntary health and welfare organizations market are Mercy Ships, American Heart Association, Angelwood, Valley Aids Council, March of Dimes, Amyotrophic Lateral Sclerosis Association, American Lung Association, Muscular Dystrophy Association, Center Industries, AccessCNY, American College Of Cardiology Foundation, American Diabetes Association, Arizona Partnership For Immunization, Arc Of Nepa, Acadiana Concern For Aids Relief, Mains'l California, Maui Family YMCA, Parkview Huntington Family Young Men's Christian Association.
The global voluntary health organizations market is segmented by mode of donation into online donation, offline donation and by organization type into multilateral organizations, bilateral single government agency, non-governmental.
Voluntary Health Organizations Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides voluntary health organizations market overview, forecast voluntary health organizations market size and growth for the whole market, voluntary health organizations market segments, and geographies, voluntary health organizations market trends, voluntary health organizations market drivers, restraints, leading competitors' revenues, profiles, and market shares.
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