Published on : May 10, 2016
ALBANY, New York, May 10, 2016: The new report focuses on the China private hospitals industry and provides a multipronged analysis of the figures posted by the industry in recent years. The development trajectory of the China private hospitals industry is thus ascertained. The report, titled ‘China Private Hospital Industry Research Report, 2015-2016,’ is available for sale on the company’s official website.
Private hospitals in China stand to profit massively from a combination of several policy changes in the regulatory framework governing the industry in China. The Chinese government has proactively tried to boost the nation’s healthcare sector in recent years in order to make healthcare more accessible to the populace; in the world’s most populous country, this requires significant government effort. The most influential recent change in healthcare policy has been the plan to bring the medical insurance and retirement benefits of private sector workers on par with government employees. This will result in a situation highly promising for the private hospitals industry in the country.
The number of private hospitals in China has increased rapidly in the last decade, with the number exhibiting a robust 16% CAGR from 2005 to 2014 to end up at 12,500. In stark contrast, the number of public hospitals in China exhibited a CAGR of just 2% in the same timeframe.
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This has also allowed the private hospitals industry to become more lucrative for investors. While most private hospitals in China are relatively mediocre in terms of funding and consequently facilities, the recent growth spurt has seen capital investment in the China private hospital industry increase significantly, allowing the industry to post strong figures.
Ophthalmology and dentistry are among the major medical disciplines to benefit from the excellent growth curve exhibited by the China private hospital industry in the past decade. In the period from 2005 to 2014, ophthalmology services exhibited an excellent 19% CAGR, with the increasing number of eye specialty clinics being a notable trend. Though general hospitals are still the majority supplier of ophthalmology services, the number of private hospitals is on the rise and is expected to post strong numbers in the coming years. The large patient pool of myopia in China, allied to the rising demand for cataract surgery, has been the major growth driver of the China private ophthalmology hospitals industry. The over ophthalmology services industry in China reached a valuation of RMB54 bn in 2014.
Aier is expected to emerge as a national industry leader in ophthalmology, with the company aiming to double its current capacity of 100 hospitals by 2017. The widespread brand recognition of Aier will be a crucial factor in achieving this objective, which will directly help the China private hospitals industry massively.
As for dentistry, the field exhibited a 16% CAGR between 2005 and 2014, reaching a valuation of RMB47.6 bn. The sector’s value is set to double before the end of the ongoing decade, thanks to the steadily rising demand for both curative and aesthetic dental procedures. Topchoice is among the dominant companies in the private dental hospitals industry and is expected to expand beyond its home province, Zhejiang, in the coming years to emerge as a national leader.
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