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.
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:
Our in-depth analysis of the global micro-hospital market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising investment in the healthcare sector is the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Low infrastructure and lack of professional healthcare workers are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing investment in the health care sector.
The major players dominating the global micro-hospital market are Emerus Hospitals, SCL Health, Baylor Scott & White Saint Luke’s Health System, Dignity Health, Baylor Health Care System, and Christus Health among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by location, by area of occupation, by end-user and region.
With respect to application, the corporate segment is anticipated to hold the largest market share owing to the icreasing joint ventures between companies to open micro-hospitals.
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