Hospitals - United Kingdom

United Kingdom

The projected revenue for the Hospitals market in the United Kingdom is expected to reach €144.90bn in 2024.
This represents a significant growth rate of 6.51% annually, resulting in a market volume of €198.60bn by 2029.
When compared to other countries worldwide, United States is forecasted to generate the highest revenue, amounting to €1,392.00bn in 2024.
In terms of per capita revenue, in the United Kingdom is expected to generate €2.13k per person in 2024.
This figure showcases the economic significance of the Hospitals market in relation to the total population of the United Kingdom.
Despite facing financial challenges, the United Kingdom's hospitals are embracing technological advancements to improve patient care and efficiency.

Key regions: United States, China, Germany, Japan, Europe

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Analyst Opinion

The healthcare industry in the United Kingdom has been growing steadily over the past few years, with the hospitals market being a significant contributor to this growth.

Customer preferences: Patients in the United Kingdom are increasingly seeking high-quality healthcare services, which has led to a rise in demand for private hospitals. Private hospitals offer patients a range of benefits, such as shorter waiting times, access to the latest medical technologies, and personalized care. Additionally, the aging population in the United Kingdom has also contributed to the growth of the hospitals market, as older individuals tend to require more medical attention.

Trends in the market: One of the key trends in the hospitals market in the United Kingdom is the increasing adoption of digital technologies. Hospitals are leveraging digital tools to improve patient care, streamline processes, and reduce costs. For example, many hospitals are now using electronic health records (EHRs) to store patient data, which allows for more efficient and accurate record-keeping. Additionally, hospitals are also using telemedicine solutions to provide remote consultations and care to patients.Another trend in the hospitals market in the United Kingdom is the growing focus on patient-centered care. Hospitals are increasingly prioritizing patient satisfaction and experience, and are implementing measures to improve these aspects of care. For example, hospitals are now offering patients more amenities, such as private rooms and high-quality food options, to make their stay more comfortable.

Local special circumstances: The National Health Service (NHS) plays a significant role in the hospitals market in the United Kingdom. The NHS provides free healthcare services to all UK residents, and is the primary healthcare provider in the country. However, the NHS has faced challenges in recent years due to funding constraints and increasing demand for services. This has led to longer waiting times for patients, which has contributed to the rising demand for private hospitals.

Underlying macroeconomic factors: The United Kingdom has a strong and stable economy, which has supported the growth of the hospitals market. Additionally, the government has implemented policies to support the healthcare industry, such as increasing funding for medical research and development. However, the uncertainty surrounding Brexit has created some challenges for the healthcare industry, as it has led to a shortage of medical professionals and increased costs for medical supplies.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.