Global Micro-Hospitals Market Highlights 2020-2029
The global micro-hospital market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. These micro-hospitals are targeting service gaps in ambulatory centers and free-standing emergency rooms. 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.
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 segment is holding the highest share with an increase in various joint ventures between companies to open micro-hospitals.
Global Micro-Hospitals Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period 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, owing to the rising number of adoptions 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. For instance, 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 global micro-hospital market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global micro-hospital market includes the following segments:
By Location
- Tier-1 Cities
- Tier-2 Cities
- Tier-3 Cities
By Area of Occupation
- 15,000–40,000 Sq. Feet
- More than 40,000 Sq. Feet
By End-User
- Individuals
- Corporate
Growth Drivers
- Requires Less Construction Time
- Low Investment
Challenges
- Lack of Proper Infrastructure
- Lack of Professional Healthcare Workers
Top Featured Companies Dominating the Market
- Emerus Hospital
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- SCL Health
- Baylor Scott & White Saint Luke’s Health System
- Dignity Health
- Baylor Health Care System
- Christus Health
