Increasing number of self-pay patients has led to an upsurge in demand for the private hospitals in the U.K. Moreover, various private hospitals are increasingly offering fixed consultant fees and package prices, which is expected to impact growth of the U.K. private healthcare market positively. A recently published report by Persistence Market Research states that the U.K private healthcare market is expected to register 2.8% CAGR during the forecast period, 2016-2025.
With growing preference for self-payment among patients, various private hospitals are focusing on offering fixed consultant fees, and package price for particular treatments along with the after care services. Moreover, increasing support by the e-Referral system has led to an upsurge is further expected to impact growth of the U.K private healthcare market throughout the forecast period. The e-Referral system allows the end users to book an appointment for certain treatments at their convenience.
The platform enables the end user to choose the clinic or hospital at the date and time according to their convenience. This further helps the end users in making informed decisions while booking an appointment with a clinic or hospital. These factors are likely to contribute towards growth of the U.K private healthcare market during the forecast period.
On the other hand, various factors are expected to inhibit growth of the U.K private healthcare market negatively. Relatively low payouts for medical covers to the hospitals and clinics and drop in purchases of private medical insurance by individuals is expected to inhibit the U.K market growth throughout the forecast period.
Private patient care services, private acute care services, and private specialist services is expected to witness significant demand in comparison to the other private healthcare services by 2025. Private hospitals that provide services for acute care are expected to represent a revenue share of over 57% in the U.K market. NHS referrals and self-pay individuals as compared to other end users are expected to account for a major revenue share collectively. Surge in the out-of-pocket expenditure for healthcare services is further expected to fuel demand for the private healthcare services in U.K.
In terms of revenue, the others segment is expected to remain dominant in the U.K. market during the forecast period. This segment is expected to remain the most attractive segment with 2.7 attractiveness index by 2025-end. Further, the others segment is expected to represent a revenue share of 35% in the global market in 2017.
Market players operating in the U.K private healthcare market include Care UK, Hospital of St. John’s & St. Elizabeth, BMI Healthcare, CIRCLE HOLDINGS PLC, HCA Management Services, L.P., Nuffield Health, Spire Healthcare Group plc., Ramsay Health Care, Aspen Healthcare (A Sub. Of Tenet Healthcare), The London Clinic, The Huntercombe Group, Bupa Cromwell Hospital, 3fivetwo Group, KIMS Hospital, The Bournemouth Private Clinic Limited, London Welbeck Hospital, King Edward VII’s Hospital, Alliance Medical, Vein Centre Limited, and The Private Clinic. Ramsay among other market players is expected to remain a leading market player, accounting for a share of nearly 21.1% in the U.K market.
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