United Kingdom Hospital Market to reach USD 189.05 Billion by 2027
Increasing geriatric population
and rise in total healthcare expenditure of the United Kingdom are the major
factors driving the growth of the United Kingdom Hospital Market in the
forecast period, 2023-2027.
According to TechSci Research report, “United Kingdom Hospital Market – By Region, Forecast
& Opportunities, 2017-2027”, the United Kingdom Hospital market stood at USD 140.54 billion in 2021 and
is forecasted to reach USD189.05 billion by 2027. This can be attributed to the
growing number of elderly people in the United Kingdom.
The government has made a number of commitments in recent years to
increase financing for the long-term needs of the underfunded National Health Service
(NHS). For instance, the government stated in the Autumn Budget in November
2018 that from 2018–19 to 2023–24, the NHS budget will increase by £20.5
billion in real terms, or 3.3% annually, with capital funds designated for
investment in buildings, infrastructure, and equipment. Another key trend
attracting the United Kingdom Hospital market is the rise in the number of elderlies
because of healthy nutritional habits, finer living conditions and better healthcare facilities and
hence, prolonged life expectancies. Moreover, a decline in smoking rates and
prohibition of smoking in public locations have led to a decrease in
smoking-related diseases and therefore, mortalities. However,
unwell staff during COVID-19 outbreak and constrained funding from NHS are just
a few of the factors that hinder the growth of the United Kingdom Hospital
market.
Browse over 20 market
data Figures spread through 70 Pages and an in-depth TOC on "United Kingdom Hospital Market"
The United Kingdom
Hospital market is segmented into ownership, type, type of services, bed
capacity, region, and by company. Based on ownership, the market is bifurcated
into public and private. Public held the largest market share of around 76.16%
in 2021. This can be attributed
to the dominance of NHS or National Health Service in the United Kingdom. In the first place, NHS is capitalized by general taxation. At the
point of delivery, NHS care is free of cost, but certain fee is imposed for a
few prescription medications and dental care.
Based on type of
services, the market is divided into out-patient
services and in-patient services. The out-patient services segment dominated the
market in 2021 with a share of 51.39% and is anticipated to maintain its
dominance during the forecast period. The rise in out-patient services is mainly due to less number of beds in the hospitals of United Kingdom. Furthermore, out-of-pocket
expenses for hospital stays and additional charges for ICU treatment has led to
an increased demand of outpatients in the country. In-patient services are
preferred mainly for serious patients.
Based on regional
analysis, Scotland accounted for the largest market share in the United Kingdom
Hospital Market due to a high number
of hospitals and a large number of
patients. Moreover, Scottish hospitals recorded the highest level of COVID
patients during the pandemic.
The
leading companies operating in the United Kingdom Hospital Market are:
- Spire Healthcare Group
PLC
- Fresenius SE & Co.
KGaA
- BUPA Cromwell
- Mediclinic International
PLC
- HCA UK Services Ltd.
- Circle Health Ltd.
- Nottingham University
Hospitals Nhs Trust
- Kings College Hospital
NHS Foundation Trust
- Nuffield Health
- The London Clinic
Limited
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“A
remarkable increment in the geriatric population of the United Kingdom due to
better lifestyle and adoption of healthy habits along with a boost in
healthcare expenditure has led to the growth of the United Kingdom Hospital
market. When compared to other industrialized nations, healthcare spending in
the UK is regarded as high. Since 2020, when the public healthcare system in
the UK tackled the majority of the cost by responding to the COVID-19 pandemic,
government spending on healthcare has increased at a faster rate. Additionally,
private spending also increased throughout that time”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“United Kingdom Hospital
Market By Ownership (Public v/s Private), By Type (General, Multispecialty, Specialty),
By Type of Services (Out-Patient Services v/s In-Patient Services), By Bed
Capacity (Above 500, 100-500, up to 100), By Region, Competition, Forecast
& Opportunities, 2017-2027F”, has evaluated the future growth potential of United
Kingdom Hospital market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India pulse
oximeter market.
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