Hospitals & Clinics Market Definition
The hospitals and clinics market consist of sales of hospital and outpatient care services and related goods by entities (organizations, sole traders and partnerships) that provide hospital and outpatient care services. This industry includes hospitals such as general hospitals, specialty hospitals and psychiatric and substance abuse hospitals that provide treatment and diagnosis for various diseases. It also includes establishments such as clinics that provide kidney dialysis, family planning counselling and other outpatient care services.
Hospitals and outpatient centers are medical facilities that provide diagnostic and medical treatment to patients with a wide range of medical conditions. Clinics offer medical care or treatment that does not require any overnight stay in a hospital or medical facility. Outpatient care may be carried out in a medical office or at hospital.
Hospitals & Clinics Market Size
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.
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.
Hospitals & Clinics Market Drivers
The key drivers of the hospitals & clinics market include:
Increase In Lifestyle Diseases – Changes in lifestyles and increases in the number of sedentary jobs are transforming the disease profile of the world population. Non-communicable diseases such as cancer, diabetes and cardio vascular diseases are increasing in prevalence. For example, breast cancer cases in the USA are expected to rise by about 50% by 2030. Lifestyle diseases such as poor food habits, smoking and lack of exercise irrespective of age, gender and heredity lead to health problems such as breathing difficulties and low body oxygen levels. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally, by 2020. Increasing lifestyle diseases are expected to be a major driver of the hospitals and clinics market.
Hospitals & Clinics Market Restraints
The key restraints on the hospitals & clinics market include:
Low Healthcare Access – Hospitals and outpatient healthcare access during this period was relatively poor in most developing countries compared to the developed nations. For instance, in 2016, India ranked 145th among 195 countries in terms of quality and accessibility of healthcare facilities. Globally, the disease burden is significantly higher in low- and middle-income countries. Low access to healthcare services, and insufficient number of hospitals and healthcare professionals, had a negative impact on the hospitals and clinics market growth in many developing nations.
Hospitals & Clinics Market Trends
Major trends influencing the hospitals & clinics market include:
Rising Demand for Cloud Based Electronic Health Records (EHR) – There is a rising demand for greater access and portability of health information from both consumers and hospitals service providers. Cloud based EHR systems store data on remote servers which can be accessed through mobile and web applications from a range of devices. They are cost effective, accessible from remote locations, secure and offer robust privacy features. Cloud based EHRs integrate additional business and information services such as disease outbreaks, price information and other services to both patients and healthcare providers. Major cloud based EHR systems providers include CureMD, Practice Fusion, AthenaHealth, MIE WebChart EMR and Quest Diagnostics Care360 EHR.
Co-Management of Outpatient Care Facilities – Clinics are increasingly aligning with independent physicians to co-manage hospital facilities and becoming alternatives to traditional hospital-physician joint ventures. In this business model, clinics or hospitals hire physicians or a group of physicians to manage a facility, or buy a business line from physicians. For example, a hospital may acquire ambulatory surgical centers (ASC) from independent physicians and convert them into outpatient hospital departments. In this model physicians give up equity, but limit their financial risk. According to the CHRISTUS CEO on Co-Management,” From an IT standpoint and from an evidence-based standpoint. I`m also thinking about everything else that goes with it: physician alignment, co-management, and employment strategies”, indicating increasing emphasis on co-management.
Opportunities And Recommendations In The Hospitals & Clinics Market
Opportunities – 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.
Recommendations – To take advantage of these opportunities, The Business Research Company 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.
Hospitals & Clinics Market Segmentation
The hospitals & clinics market is segmented by service provider, by end-user gender, and by geography.
By Service Type-
The hospitals & clinics market is segmented by service provider into
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%.
Sub-Segment
The hospitals market is segmented by sub-segment into
- a) General Hospitals
- b) Specialized Hospitals
- c) Mental Hospitals
By End User Gender-
The hospitals & clinics market is segmented by end-user gender into
Growth has accelerated in both the segments of the global hospitals & clinics market by end-user gender.
By Geography- The hospitals & clinics market is segmented into
- o North America
- o Western Europe
- UK
- Germany
- France
- Spain
- Italy
- o Asia Pacific
- China
- Japan
- India
- Australia
- o Eastern Europe
- o South America
- o Middle East
- o Africa
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, followed by Africa and Eastern Europe.
Hospitals & Clinics Competitive Landscape
Major Competitors are:
- • National Health Service
- • Kaiser Permanente
- • Fresenius Medical Care AG & Co. KGaA
- • DaVita Inc.
- • Universal Health Services, Inc.
Other Competitors Include:
- • Mayo Clinic
- • Cleveland Clinic Health System
- • The Johns Hopkins Health System Corporation
- • University Of Maryland Medical Center
- • MD Anderson Cancer Center
- • Abc Clinica, Abmed Convenio Medico Hospitalar
- • Abreu Souza, Hospital Alemán
- • AIC Kapsowar Hospital
- • Aier Eye Hospital Group
- • All India Institute of Medical Sciences (AIIMS)
- • Apollo Specialty Hospital
- • Arab Contractors Medical Center
- • Asan Medical Centre
- • Asklepios Klinikum Bad Abbach
- • Assistance Publique Hôpitaux de Paris
- • Auburn Hospital
- • Bakoulev Center for Cardiovascular Surgery
- • Baskent Universitesi Adana Hastanesi
- • Benq Hospital
- • Beppu National Rehabilitation Center for Persons with Severe Disabilities
- • Birmingham Children’s Hospital
- • Bumrungrad International Hospital
- • Cedars-Sinai Medical Center
- • Center of Neurology Moscow
- • Centre Hospitalier Mohammed VI Marrakech
- • Centrum Zdrowia Dziecka
- • Chindex International Inc
- • Christian Medical College
- • Clalit Health Services
- • Clínica Alemana
- • Clínica las Américas
- • Diani Beach Hospital
- • Erasmus Medisch Centrum (Universitait Medisch Centrum Rotterdam)
- • Fortis Hospital
- • Freeman Hospital
- • Gambro Healthcare
- • Ganzouri Specialized Hospital
- • General Hospital of Mexico
- • Gleneagles Hospital
- • Grace Hospital, Chaleur Regional Hospital
- • Hadassah Medical Organization
- • Hong Kong Sanatorium and Hospital
- • Hospital Alemán
- • Hospital Angeles
- • Hospital Británico
- • Hospital Clínico Universidad de Chile
- • Hospital Español
- • Hospital Israelita Albert Einstein
- • Hospital Italiano de Buenos Aires
- • Hospital Santiago Oriente Dr.Luis Tisné Brousse
- • Hospital Universitario de San Vicente Fundación
- • Institut Pasteur de Madagascar
- • Instituto Nacional de Câncer (INCA)
- • Instytut Psychiatrii i Neurologii
- • King Faisal Specialist Hospital & Research Centre
- • Leiden University Medical Center / Leids Universitair Medisch Centrum
- • Life healthcare Hospital Group
- • Lovelace Medical Group
- • Massachusetts General Hospital
- • Mayo Clinic
- • Medical Center Medlife
- • National Cancer Center Hospital
- • National Hospital Organisation Medical Centre
- • Netcare Group
- • Neuropsychiatric Hospital Aro Abeokuta
- • Pablo Tobón Uribe
- • Pediatricka Klinika 2 Lekarske Fakulty
- • Perth And Smiths Falls District Hospital
- • Phoenix Healthcare Group
- • Postgraduate Institute of Medical Education & Research (PGIMER)
- • Princess Margaret Cancer Centre
- • Riyadh Military Hospital
- • Royal Brisbane and Women’s Hospital
- • Royal Children’s Hospital
- • Royal Melbourne Hospital
- • Russian Academy of Medical Sciences
- • Russian Children’s Hospital Moscow
- • Sanatorio Otamendi
- • Sino care Group
- • Sir Charles Gairdner Hospital
- • Sociedad Española de Beneficencia Hospital Español
- • St Thomas Hospital
- • St. Joseph’s Health Care
- • Sturgeon Community Hospital Foundation
- • Tata Memorial Hospital
- • Tel Aviv Sourasky Medical Center
- • The Ottawa Hospital
- • UCLA Medical Center
- • UCSF Medical Center
- • University Clinic Heidelberg (Universittsklinikum Heidelberg)
- • University of Michigan Hospital
- • Upper River Valley Hospital
- • Victoria General Hospital
- • Wooridul Spine Hospital