Scope of the Study
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.
The market study is being classified, by Application (Hospitals, Pharmaceutical Industries, Medical Devices, Health Insurance, Medical Devices and Equipment and Others) and major geographies with country level break-up. According to AMA, the Global Private Healthcare market is expected to see growth rate of 11.0%
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) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Spire Healthcare Group Plc (United Kingdom), Nuffield Health (United Kingdom), Ramsay Health Care (Australia) and Kindred Healthcare, LLC (United States).
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.
AdvanceMarketAnalytics has segmented the market of Global Private Healthcare market by Type, Application and Region.
On the basis of geography, the market of Private Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Curative will boost the Private Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Privatization of Industries
- Owing to High-End Technologies and Trustworthy Surgical Procedures
- High Incidence of Chronic Diseases
- Rising Consumers Income and Healthcare Expenditure
- Cost Effective Alternative to Improve Healthcare Efficiency
- Adoption of Internet of Things (IoT) and Geospatial Technologies
- Growing Healthcare Industry due to the Government Support
- Acute Shortage of Healthcare Delivery Systems
- Increasing Public Health Insurance Companies
- Rising Foreign Investment in Healthcare Sector
- High Cost of Private Healthcare Services is posing a challenge for the market
Market Leaders and their expansionary development strategies
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 hospitalís 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.
Key Target AudiencePrivate Healthcare Service Providers, Healthcare Industry, Marketing firms, Industry Associations, Potential Investors, Government and Regulatory Bodies and Others
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