Dublin, Sept. 09, 2024 (GLOBE NEWSWIRE) -- The "General Hospitals in China - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Industry revenue is expected to increase at a CAGR of 5.3% over the five years through 2023, to total $506.1 billion. Revenue is anticipated to rise by 5.7% in the current year. Industry revenue is forecast to grow at a CAGR of 4.3% over the five years through 2028, to total $625.3 billion. This steady growth will mainly come from further reforms to the medical system.
The General Hospitals industry in China has developed at a stable rate in recent years due to China's large population base, and the increasingly affluent urban and rural residents benefiting from China's rapid GDP growth. Industry revenue volatility is low due to the relatively steady number of annual hospital patients.
General hospitals generated 71.2% of the total hospital revenue in China in 2021, and 53.1% of the total revenue in China's healthcare sector. Industry profitability is low as most general hospitals are under government control and generally do not operate to maximize profits. Industry profit is estimated to account for 4.0% of industry revenue in 2023. Although barriers to entry in the industry are high, increased private capital is entering the industry through medical mechanism reforms.
This trend is also expected to improve hospital productivity, efficiency and profit in future years. Due to the COVID-19 pandemic, the number of patients visiting hospitals decreased.
Driven by the COVID-19 pandemic, internet diagnosis and treatment and internet hospitals have ushered in a new stage of development, and the demand for online medical consultation has shown an unprecedented growth trend. In addition, during the COVID-19 pandemic period, telemedicine, online precise appointments and big data analysis have played an irreplaceable role in improving treatment plans, reducing crowd contact, and supporting pandemic prevention decision making. Information construction investment is expected to increase and smart hospitals will be an important development trend.
The number of outpatients and inpatients maintains overall growth
As people's needs for medical and health services have been better met and guaranteed, the number of outpatients and inpatients have been increasing on the whole. In the five years to 2023, the number of outpatients and inpatients is estimated to increase at a CAGR of 1.4% and 1.8%, respectively.
Trends and Insights
- The ageing population generate higher demand for medical service.
- This is expected to drive continual demand for general hospitals. Inpatient services contribute the largest revenue.
- The share has decreased due to medical care improvement and shorter hospital stays. Distribution of general hospitals is closely related to economy development and population number.
- The well-developed and populous regions have more general hospitals. There exists intense competition between hospitals.
- The general hospitals mainly compete on hospital grades, eligibility for social insurance units, resources & facilities, geographic accessibility and price.
- The growing ageing population drive huge demand for medical service
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
- West China Hospital, Sichuan University
- Union Hospital, Tongji Medical College, HUST
- The First Affiliated Hospital of Zhengzhou University
- Tongji Hospital affiliated to Tongji Medical College of HUST
- The First Affiliated Hospital, Zhejiang University School of Medicine
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON
For more information about this report visit https://www.researchandmarkets.com/r/gjs480
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