Hospitals & Clinics: $5.38 Billion Global Market Opportunity & Strategy Forecast, 2022 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 2, 2019--The “Hospitals And Clinics Global Market Opportunities And Strategies To 2022” report has been added to ResearchAndMarkets.com’s offering.
This report describes and evaluates the market for hospitals and clinics globally. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global hospitals and clinics market reached a value of nearly $3,693.4 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.2% since 2014. The global hospitals and clinics market is expected to grow at a CAGR of 9.9% to nearly $5,381.6 billion by 2022.
Growth in the historic period resulted from emerging markets growth, health insurance reforms, and technological advances. Factors that negatively affected growth in the historic period were low healthcare access and vaccination programs and improved sanitation. Going forward, population, aging, increased healthcare access, economic growth and increased lifestyle diseases will drive growth. Factors that could hinder the growth of this market in the future are government regulations and budget limitations.
The hospitals and clinics market in this report is segmented by type into hospitals, and clinics. The hospitals market accounted for the largest share of the hospitals and clinics market in 2018 at 84.1%. The clinics market is expected to be the fastest-growing segment going forward at a CAGR of 11.5%.
The hospitals market in this report is further segmented into general hospitals, specialized hospitals and mental hospitals. The general hospitals segment was the largest segment in the global hospitals market in 2018 at 87.7%.
North America is the largest market for the hospitals and clinics, accounting for 38.9% of the global market. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the Middle East and Asia-Pacific will be the fastest growing regions in this market, where growth will be at CAGRs of 14.51% and 14.48% respectively. These will be followed by Africa and Eastern Europe where the markets are expected to grow at CAGRs of 13.7% and 12.8% respectively.
The global hospitals and clinics market is highly fragmented, with large numbers of small players. The top ten competitors in the global hospitals and clinics market made up 6.9% of the total market in 2018. Major players in the market are the National Health Service, Kaiser Permanente, Fresenius Medical Care AG & Co. KGaA, DaVita Inc., Universal Health Services, Inc., Mayo Clinic and Cleveland Clinic Health System.
The global healthcare services market, of which the hospitals and clinics market is a segment, reached a value of nearly $6707.3 billion in 2018, having grown at a CAGR of 7.6% since 2014. It will grow at a CAGR of 9.3% to nearly $9581 billion by 2022. The hospitals and clinics market was the largest segment in the global healthcare services market in 2018, accounting for 55% of the healthcare services market. Physicians and other health practitioners was the second largest segment in the global healthcare services market in 2018, accounting for 21% of the healthcare services market, which was worth $1,429.5 billion globally and has grown at a CAGR of 7.2% during the historic period. It is expected to grow at a CAGR of 8.8% during the forecast period.
The top opportunities in the global hospitals and clinics market will arise in the hospitals segment, which will gain $1,366.4 billion of global annual sales by 2022. The hospitals and clinics market size will gain the most in China at $406.7 billion. Hospitals and clinics market-trend-based strategies include the deployment of cloud-based EHRs (Electronic Health Records), adoption of big data analytics solutions, and adoption of mobile and IoT technologies. Player-adopted strategies in the hospitals and clinics industry include improvement of treatment procedures, and construction of new medical centers.
To take advantage of these opportunities, the author among a number of other strategies recommends the hospital and clinics companies to consider adopting cloud-based electronic health records, focusing on personalized medicine, and collaborating for value-based healthcare.
The report covers the following chapters:
For more information about this report visit https://www.researchandmarkets.com/r/gsbs5b
View source version on businesswire.com:https://www.businesswire.com/news/home/20190502005692/en/
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Related Topics:Hospital Management
INDUSTRY KEYWORD: HEALTH HOSPITALS
SOURCE: Research and Markets
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PUB: 05/02/2019 12:57 PM/DISC: 05/02/2019 12:57 PM