Insurance Technology Industry News

TMCNet:  Research and Markets: Private Healthcare Market Report 2013

[January 30, 2013]

Research and Markets: Private Healthcare Market Report 2013

DUBLIN --(Business Wire)--

Research and Markets (http://www.researchandmarkets.com/research/pwb8p2/private) has announced the addition of the "Private Healthcare Market Report 2013" report to their offering.

This Key Note Market Update examines the private healthcare market in the UK, which is based on sector definitions outlined by Laing & Buisson. It covers long-term care (for the elderly and physically disabled); acute care; psychiatric care; private medical insurance (PMI); and primary care.

The UK private healthcare market grew by 3.2% in 2011. The market is dominated by the long-term care sector, for the elderly and disabled patients, which increased its market value by 4.2% in 2011, while the sector for acute care grew by 2%. Psychiatric care rose by 4.7% in 2011, while private medical insurance rose by a more modest 1.9% and the primary care sector rose by 3.2%.

Between 2007 and 2011, the market for long-term care for elderly and physically disabledpeople in the UK rose by 15% in value terms. Public sector spending on long-term care has contracted by 9.4% since 2007, but the fall in spending by public sector has been offset by rise in private sector, which rose by 20.5% over the period.

In the acute care sector, growth was witnessed consistently throughout the recession. However, annual growth rates slowed from 8.2% in 2008, to an estimated 2% in 2011. The majority of the sector's revenue is generated by independent hospitals, which accounts for over two-thirds of the total value in this sector. The private medical insurance market was the worst hit sector within the overall private healthcare market and according to Laing & Buisson, its value contracted by 1.2% and 2.9% in real-terms in 2009 and 2010, respectively.

The recent reforms to the National Health Service (NHS) have resulted in longer waiting times in NHS hospitals and for certain treatments and procedures, such as cataract removals and hernia operations, and has led to these procedures being rationed, making it more difficult for patients to access the treatments via the NHS. This has led to a growing interest in self-pay healthcare. Meanwhile, the UK's ageing population and significant public funding pressures on the NHS have led to a greater involvement from private sector to deliver healthcare services.

The outlook of the private healthcare market over the next 5 years appears to be positive. Key Note anticipates that, between 2012 and 2016, the total UK private healthcare market will grow at an average annual rate of above 5%. The long-term care market is expected to remain the largest private healthcare sector and is forecast to account for 48.7% of the total private healthcare market by 2016.

Companies Mentioned

- Axa Ppp Healthcare Ltd

- Bupa Care Homes (Cfg) Plc

- Bupa Insurance Ltd

- Capita Health And Wellbeing Ltd

- Care Uk Ltd

- Nuffield Health

- Ramsay Health Care Uk Operations Ltd

For more information visit http://www.researchandmarkets.com/research/pwb8p2/private


[ Back To Insurance Technology Homepage's Homepage ]

FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!