Research Nester released a report titled “Global Micro-Hospitals Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global micro-hospitals market in terms of market segmentation by location, by area of occupation, by end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global micro-hospitals market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 as it requires less time for construction and low investment, which is also acting as a major advantage for the growth of the market. In addition, due to the large influx of patients, some large-scale hospitals may not be able to provide high-quality facilities, which are expected to fuel the growth of the global micro-hospitals market. Moreover, micro-hospitals require similar licensing and have to follow the same rules and regulations, which make them eligible for medical reimbursement. The report of the Centers for Disease Control and Prevention (CDC), 2017 stated that around 90% of people in the U.S. have insurance coverage and thus, are potential users of micro-hospitals, and the source also stated that around 19 states in the U.S. have micro-hospitals. Thus, further expansion in others states is expected to propel the growth of the micro-hospitals market.
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On the basis of location, the market is segmented into tier 1 cities, tier 2 cities, and tier 3 cities. Tier 1 cities and tier 2 cities hold the highest share in the market because these regions are densely populated, and large hospitals may not be able to provide high-quality treatment due to the influx of a large number of patients. However, micro-hospitals are also expanding their revenue in tier 3 cities so that every region can get high health care facilities.
On the basis of area occupation market is segmented into 15,000-40,000 sq. feet and More than 40,000 sq. feet. Out of which, 15,000-40,000 sq. feet area holds the highest share in the market because it will require less construction time and low investment. However, with initiatives of the government and non-government organizations, more than 40,000sq feet area is also increasing its revenue in the market.
On the basis of the end-user market is segmented into individuals and corporate. Corporate is holding the highest share with an increase in various joint ventures between companies to open micro-hospitals.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is predicted to grow at the highest CAGR, owing to the increasing population and increasing investments in healthcare facilities. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue due increase in per capita expenditure on healthcare and increasing investments of the government and non-government organization in the field of healthcare sector. Europe holds second place in the market due to the presence of good healthcare facilities.
Increasing investments in healthcare sector to Drive Market Growth
In December 2017, Allegheny Health Network announced plans to build four micro-hospitals in Pittsburgh, U.S., through a partnership with Emerus (largest micro-hospital operator in the U.S.) by the end of 2019.
The rising number of adoption of micro-hospitals by large hospitals and increasing joint ventures between companies to open micro-hospitals. Moreover, increasing per capita expenditure on healthcare is expected to fuel the market growth. However, lack of proper infrastructure and lack of skilled healthcare workers are some of the factors that are estimated to restrain market growth in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global micro-hospitals market which includes company profiling of Emerus Hospitals, SCL Health, Baylor Scott & White Saint Luke’s Health System, Dignity Health, Baylor Health Care System, and Christus Health. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global micro-hospitals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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