The private healthcare market is a segment of the healthcare industry that is composed of privately owned hospitals, clinics, and other healthcare facilities. These facilities are owned and operated by private companies, rather than being run by the government or non-profit organizations.
The private healthcare market is growing due to various factors, such as the increasing demand for quality healthcare services, growing aging population, increasing prevalence of chronic diseases, and rising disposable income of individuals. Private healthcare facilities offer a range of services, including diagnosis, treatment, and rehabilitation, and they typically offer more amenities and personalized care than public healthcare facilities.
Persistence Market Research forecasts the U.K. private healthcare market to grow from more than US$ 11,600 Mn in 2016 to over US$ 14,000 Mn by 2025 end. This represents a CAGR of 2.8% over the forecast period.
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One of the main drivers of growth in the U.K.’s private healthcare market is the country’s aging population. As people live longer, they are more likely to need healthcare services, and many of them prefer to receive those services in a private setting. Additionally, the National Health Service (NHS) has faced funding constraints in recent years, which has led to longer wait times for some services. As a result, more people are turning to the private healthcare market to access the care they need in a timely manner.
Another factor contributing to the growth of the private healthcare market in the U.K. is the increasing availability of private medical insurance. More employers are offering private medical insurance as a benefit to their employees, and more individuals are purchasing private medical insurance on their own. This has made it easier for people to access private healthcare services.
- Hospital of St. John’s & St. Elizabeth
- Care UK
- CIRCLE HOLDINGS PLC
- BMI Healthcare
- Nuffield Health
- HCA Management Services, L.P.
- Ramsay Health Care
- Spire Healthcare Group plc.
- The London Clinic
- Aspen Healthcare (A Sub. Of Tenet Healthcare)
- Bupa Cromwell Hospital
- The Huntercombe Group
- KIMS Hospital
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The increased interest of patients to self-pay for various ailments in recent times is expected to advance the private healthcare market in the U.K. Moreover, private hospitals are coming up with package price and fixed consultant fees for certain types of treatment and after care, which allows patients to choose best offerings in the market.
Private hospitals give choices to patients to take this self-pay route for non-urgent operations. Increase in self-pay elective procedures is driven by growing NHS waiting list and growth is supported by packaged pricing and marketing initiatives of private hospitals in the U.K.
U.K. Private Healthcare Market Attractiveness Analysis by Application Type
The Others segment dominated the U.K. private healthcare market by application in terms of revenue in 2017, and this trend is projected to grow throughout the forecast period. Others segment is the most attractive segment, with attractiveness index of 2.7 over the forecast period. Others segment is estimated to account for 35% market value share in 2017.
Trauma and orthopedics segment is expected to be the second most lucrative segment in the U.K. private healthcare market by application, with attractiveness index of 2.0 during the forecast period. Trauma and orthopedics segment is estimated to account for 30.7% market value share in 2017.
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