The Business Research Company adds a report “Hospitals And Clinics Market By Service Type (Hospitals, Clinics); By End User-Gender (Female, Male); By Expenditure (Public, Private) – Global Forecast To 2022” under its healthcare services category. The report covers market characteristics, key players, market size and trends from 2014 to 2022.
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.
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The global hospitals and clinics market size reached a value of nearly $3,693 billion in 2018 and the hospitals and clinics industry growth rate was around 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 according to the hospitals and clinics market analysis.
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.
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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.
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.
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