The United Kingdom
Hospital Market stood at USD 140.54 Billion in 2021 and is projected to register
a CAGR of 5.08% during the forecast period. The United
Kingdom Hospital Market is driven by a ceaseless rise in the total health
expenditure in the country, especially of the public-sector. Total healthcare
expenditure from the public sector in the United Kingdom is forecast to rise at
a CAGR of about 6.5% in the next five years. Public-sector healthcare
expenditure has been on the dominating end since the past two decades, despite
the never-ending attempts to shift some of the financial strain to
private-sector organizations, depicting the crucial essence of healthcare. An uninterrupted boost
in the population which has led to an increasing burden from the society, has
turned the healthcare budget in the United Kingdom into a widened one
throughout the period.
Real Private Consumption
Expenditure
The United Kingdom’s
private consumption expenditure witnessed an upward drift over the period of
five years before the COVID-19 outbreak, notwithstanding a remarkable slump
during the pandemic year of 2020-21. The country’s level of consumption
expenditure accomplished a uniform growth since 2013-14, before the global
outbreak of coronavirus in 2020-21. This was probably because of
re-establishment of consumer’s credence as well as an overall increase in disposable
income. Borrowing became more affordable during this time of historically low
interest rates, and consumption expanded dramatically because of unsecured
borrowing. Due to banks and other financial institutions' incentives to offer
alluring bargains and draw in new clients, consumption expenditure increased as
a result of the low interest rates. In contrast, household spending was limited
and even decreased for two straight years through 2009–10 prior to the
five-year period.
Surge in Geriatric
Population
People typically seek
healthcare more frequently as they get older since ageing is accompanied by a
natural physical decline. The elderly frequently requires more intense and
frequent medical treatment as well as nursing support since they frequently have
lesser resistance to contagious illnesses, are more prone to developing
non-communicable diseases (NCDs), such as Parkinson's disease, Alzheimer's
disease, and diabetes. As a result and
exacerbated by non-demographic reasons (such as changes in treatment processes,
social care reform, and a shortage of competent staff), the UK's aging
population is expected to grow at a notable rate.
Furthermore, longer life
expectancies and better diet, living conditions, and health care have
contributed to the expansion of age group of 65 and above in the United
Kingdom. Smoking-related
illnesses and mortality have experienced a reduction because of decreased
smoking rates and the public smoking prohibition. Additionally, the high
proportion of Baby Boomers—those born between the middle of the 1940s and the
early 1950s—who are now aging—has contributed to the rise in the number of
persons of age 65 and older. Due to the coronavirus outbreak, this rate of
increase halted in 2020–21.
Number of Births
At the commencement of
the financial crisis, the rate of rise in the number of births slowed, and it
appears that it has taken a protracted economic downturn for annual birth rates
across the United Kingdom to finally start to decline. This is because
pregnancy is generally delayed by nine months from an incident, yet people
choose to put off getting pregnant during uncertain economic times. As a result, it
is anticipated that birth rates decreased in the second half of the period as a
result of economic uncertainty related to Britain's impending exit from the
European Union. Due to the COVID-19 pandemic, there were fewer births in
2020–2021. This is because the outbreak's circumstances delayed a lot of
intended pregnancies and promoted increased use of contraception. This is due to the
fact that many people avoided using medical services while the pandemic was at
its worst and also the younger generation suffered the most financially,
consequences from the coronavirus outbreak. Lockdown restrictions were relaxed
in April 2021, encouraging more couples to make future plans and increasing
birth rates by 1.2% between 2021 and 2022. As the rates return to normal levels
in 2022–2023, fewer births are anticipated as an outcome.
Growing Trend of Medical Tourism in
United Kingdom
Academic and popular media are paying
more and more attention to the topic of people travelling abroad for medical
care, also known as "Medical
Tourism." The
availability and affordability of air travel, provider internet marketing, and
the growing demand for out-of-pocket expenses, even in universal public health
care systems such as the UK NHS, all point to the possibility that more
patients will contemplate travelling for treatment. The three kinds of medical
tourism most prevalent in UK are- cosmetic tourism, fertility tourism, and
bariatric surgery. Greece, Spain, Cyprus, and the Middle East countries are places
from where most people enter the UK for medical tourism.
The UK was placed 22nd out of 46
locations in the field of medical tourism, according to Medical Tourism Index
of 46 global destinations in 2020-21.
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Market Segmentation
The United Kingdom Hospital Market is
segmented based on ownership, type, type of services, bed
capacity, and regions. Based on ownership, the market can be divided into public
and private. Based on type, the market can be split into general, multispecialty
and specialty. Based on Type of Services, the market can be segmented into in-patient
services and out-patient services. In terms of bed capacity, the market can be
categorized into above 500, 100-500 and up to 100. Based on Region, the market
can be fragmented into Scotland, South West, South East, London, East Anglia,
Yorkshire & Humberside, and East Midlands.
Company Profiles
Spire Healthcare Group PLC, Fresenius SE & Co KGaA, Orpea SA,
Mediclinic International PLC, HCA UK Services Ltd., Circle Health Ltd.,
Nottingham University Hospitals Nhs Trust, Kings College Hospital NHS
Foundation Trust, Nuffield Health are among the major market players operating in the United Kingdom
Hospital Market.
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Attribute
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Details
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Market size value in 2021
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USD 140.54 Billion
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Revenue Forecast in 2027F
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USD 189.05
Billion
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Base Year
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2021
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Historical Years
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2017 –
2021
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Estimated Year
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2022
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Forecast Period
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2023
– 2027
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Quantitative Units
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Revenue in USD Billion, and CAGR for 2017-2021 and 2022E-2027F
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Report Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments Covered
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·
Ownership
·
Type
·
Type of Services
·
Bed Capacity
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Regional Scope
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Scotland,
South West, South East, London, East Anglia, Yorkshire & Humberside, East
Midlands
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Key Companies Profiled
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Spire Healthcare Group PLC, Fresenius SE & Co KGaA, Orpea SA,
Mediclinic International PLC, HCA UK Services Ltd., Circle Health Ltd.,
Nottingham University Hospitals Nhs Trust, Kings College Hospital NHS
Foundation Trust, Nuffield Health
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Customization Scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and Purchase Options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the
editable version of the report in PPT/pdf format on special request)
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Report Scope:
In this report, United Kingdom Hospital Market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
- United Kingdom
Hospital Market, By Ownership:
- United Kingdom
Hospital Market, By Type:
- General
- Multispecialty
- Specialty
- United Kingdom Hospital Market, By Type
of Services:
- In-Patient Services
- Out-Patient Services
- United Kingdom
Hospital Market, By Bed Capacity:
- Above 500
- 100-500
- Up to 100
- United Kingdom Hospital Market, By Region:
- Scotland
- South West
- South
East
- London
- East
Anglia
- Yorkshire
& Humberside
- East
Midlands
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in United Kingdom Hospital Market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information:
- Detailed analysis and profiling of additional market players (up to five).