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The healthcare industry also called the medical industry or health economy is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care. It includes the generation and commercialization of goods and services lending themselves to maintaining and re-establishing health. The modern healthcare industry includes three essential branches which are services, products, and finance and may be divided into many sectors and categories and depends on the interdisciplinary teams of trained professionals and paraprofessionals to meet health needs of individuals and populations. The healthcare industry is one of the world's largest and fastest-growing industries. Medicine is the science and practice of caring for a patient, managing the diagnosis, prognosis, prevention, treatment, palliation of their injury or disease, and promoting their health. Medicine encompasses a variety of health care practices evolved to maintain and restore health by the prevention and treatment of illness. Contemporary medicine applies biomedical sciences, biomedical research, genetics, and medical technology to diagnose, treat, and prevent injury and disease, typically through pharmaceuticals or surgery, but also through therapies as diverse as psychotherapy, external splints and traction, medical devices, biologics, and ionizing radiation, amongst others.
Australia and New Zealand are the only highly developed independent nations in the region, although the economy of Australia is by far the largest and most dominant economy in the region and one of the largest in the world. New Caledonia, Hawaii and French Polynesia are highly developed too but are not sovereign states. Australia's per-capita GDP is higher than that of the UK, Canada, Germany, and France in terms of purchasing power parity. New Zealand is also one of the most globalised economies and depends greatly on international trade. The majority of people living in Australia work in the health care, retail and education sectors. Australia boasts the largest amount of manufacturing in the region, producing cars, electrical equipment, machinery and clothes. Countries of Australia and New Zealand region are Australia, Papua New Guinea, New Zealand, Fiji, Solomon Islands, Micronesia, Vanuatu, Samoa, Kiribati, Tonga, Marshall Islands, Palau, Tuvalu, Nauru.