What is Private Healthcare?
Private healthcare or private medicine is healthcare and medicine provided by entities other than the government. The private or independent healthcare sector is made up of hospitals and clinics which runs independent of the National Health service (NHS). They are normally run by a company, although some may be run by charities or not for profit organisations. As, the world is experiencing a chronic shortage of well-trained health workers with rising frequency of chronic diseases. According to the, WHO estimates that more than 4 million health workers are needed to fill the gap. Government initiatives like e-health together with tax benefits and incentives, increasing access to insurance along with rising manpower in healthcare industry is driving the Global Private healthcare market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Apollo Hospitals Enterprise Ltd.(India), BMI Healthcare (United Kingdom), Care UK (United Kingdom), Fortis Healthcare Limited (India), Fresenius SE & Co. KGaA (Germany), HCA Healthcare (United States), IASIS Healthcare (United States) and Life Healthcare (South Africa) |
CAGR | 11.0% |
The study covers a detailed analysis segmented by key business segments i.e. , by application (Hospitals, Pharmaceutical Industries, Medical Devices, Health Insurance, Medical Devices and Equipment and Others) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Private Healthcare market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Private Healthcare market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Apollo Hospitals Enterprise Ltd.(India), BMI Healthcare (United Kingdom), Care UK (United Kingdom), Fortis Healthcare Limited (India), Fresenius SE & Co. KGaA (Germany), HCA Healthcare (United States), IASIS Healthcare (United States) and Life Healthcare (South Africa).
Market Overview:
In May 2019, Kindred Healthcare, LLC announced that it has acquired Promise Hospital of East Los Angeles from Promise Healthcare Group, LLC., In addition, Kindred has been collaborating with the hospital’s medical staff to ensure continuity of care for current and future patients who require the specialized care that Kindred provides. and In September 2018, worlds largest government funded healthcare scheme was launched i.e., Ayushman Bharat.
The Global Private Healthcare market is fragmented with top regional and international market players. Additionally, Government initiatives and emerging healthcare service with the adoption of new medical technologies are supporting the growth of the private healthcare market. For instance, The Government of India has launched Mission Indradhanush with the aim of improving coverage of immunization in the country. It aims to achieve at least 90 percent immunization coverage by December 2018 which will cover unvaccinated and partially vaccinated children in rural and urban areas of India.
Influencing Trend:
Cost Effective Alternative to Improve Healthcare Efficiency, Adoption of Internet of Things (IoT) and Geospatial Technologies and Growing Healthcare Industry due to the Government Support
Market Growth Drivers:
Growing Privatization of Industries, Owing to High-End Technologies and Trustworthy Surgical Procedures, High Incidence of Chronic Diseases and Rising Consumers Income and Healthcare Expenditure
Challenges:
High Cost of Private Healthcare Services is posing a challenge for the market
Restraints:
Acute Shortage of Healthcare Delivery Systems
Opportunities:
Increasing Public Health Insurance Companies and Rising Foreign Investment in Healthcare Sector
Key highlights of the Global Private Healthcare market Study:
CAGR of the market during the forecast period 2023-2030
In-depth information on growth factors that will accelerate the Private Healthcare market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Private Healthcare market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Private Healthcare Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Private Healthcare market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Private Healthcare market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Private Healthcare Service Providers, Healthcare Industry, Marketing firms, Industry Associations, Potential Investors, Government and Regulatory Bodies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.