Micro-Hospitals Market grow with a moderate CAGR during the forecast period i.e. 2019-2027 | Coherent Market Insights
Micro-Hospitals Market report includes historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the related industry. Micro-Hospitals Market offers complete, proficient report delivering market research data that is relevant for new market entrants or set up players. Key strategies of the companies operating in the market and their impact analysis have been included in the report.
Global Micro-Hospitals Market Analysis
Micro-hospitals are tiny inpatient institutions with eight to fifteen beds and an average space footage of 15,000 to 60,000 square feet. Micro-hospitals are located within a 20–25-mile radius of large-scale hospitals in urban areas. In comparison to ambulatory centers and emergency care centers, they have a larger conducting body and type of production. Emergency services, pathology lab services, medication management, and ultrasound scans are all available at the micro-hospital. Some of them also offer primary care, as well as nutritional and surgical treatments.
The global micro-hospitals market is growing due to low investment costs and easy availability of healthcare resources. Micro-hospitals are gaining popularity since they fill gaps in ambulatory centers and free-standing community clinics, such as the incapacity to supply short-term inpatient care. Micro-hospitals have a competitive advantage over large-scale hospitals in a number of areas, including minimal capital investment and building time, which is accelerating growth of the global micro-hospitals market. Owing to the number of patients in micro-hospitals is minimal, they provide patient-centered care, accessibility (in terms of the number of services they provide), and quick access to resources.
Due to a high number of patient intakes, certain large-scale hospitals may not be capable to provide the same level of care or amenities, resulting in the rise of the global micro-hospitals market. Micro-hospitals are subject to the same licensing and standards as large-scale hospitals, making them suitable for financial compensation.
Micro-hospitals, on the other hand, lack modern facilities that are necessary for some difficult procedures or emergencies, which is a key impediment to the global micro-hospitals market’s growth. The micro-hospital idea is still in its development, and business strategy is being slowed by the delayed penetration of micro-hospitals as a result of the slower acceptance rate.
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• Current and future of global Lab-on-a-chip Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
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Over the forecast period, the United States is expected to hold a significant share of the global micro-hospitals market due to a rise in strategic partnerships among organizations to access micro-hospitals in the economy as a result of large-scale hospital brands’ wide penetration of micro-hospitals. Allegheny Health Network stated in December 2017 that it would join with Emerus (the leading micro-hospital provider in the U. S.) to develop four micro-hospitals in Pittsburgh by the end of 2019.
Furthermore, rising per capita healthcare spending is projected to be another factor driving market expansion in the nation. According to the Centers for Disease Control and Prevention, almost 90 percent of individuals in the United States have health insurance, making micro-hospitals a viable option. There are micro-hospitals in 19 states in the United States, thus future expansion in other states is estimated to drive growth in the global micro-hospitals market throughout the forecast period.
To increase its revenue base, major companies are focusing on opening new micro-hospitals in diverse locations. In order to grow their market share, they are also focused on strategic partnerships and collaboration tactics. Mercy Health, Franciscan Health, Dignity Health, and Christus Health have announced intentions to establish additional micro hospitals around the U.S. in 2017.
Major companies contributing in the global micro-hospitals market are Baylor Scott & White Saint Luke’s Health System, SCL Health, Emerus Hospitals, Christus Health, Baylor Health Care System, and Dignity Health.
Micro-hospitals Market Taxonomy:
On the basis of location, the micro-hospitals market is segment into:
- Tier 1 cities
- Tier 2 cities
- Tier 3 cities
On the basis of area of occupation, the micro-hospitals market is segment into:
- 15,000–40,000 Sq. Feet
- More than 40,000 Sq. Feet
On the basis of end user, the micro-hospitals market is segment into:
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