Outpatient Clinics Market to Register US$ 39,000 Mn by 2022
Growing advancements in medical technology has led to development of treatment techniques and medications that do not require the patients to stay for long hours at the clinics or hospitals. However, imposition of strict regulations will continue to hinder the global market growth of outpatient disorders over the forecast period. Future Market Insights states that the global market of outpatient clinics is projected to reflect a CAGR of 4.3%, representing more than US$ 39,000 Mn by 2022-end.
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Factors Fuelling Global Market Growth
Growth of the global outpatient clinics market is mainly bound to various macro-economic and micro-economic factors. Prevalence of chronic diseases such as asthma, diabetes, depression and congestive heart failures lead to complex and severe health problems. With the escalating cost of treatment process in various healthcare organizations, patients prefer visiting the outpatient clinics for accessing treatment. Growing concerns regarding the increasing prevalence of cardiovascular diseases such as elevated blood pressure levels, hypertension, coronary heart diseases and cerebrovascular diseases has further led to surge in demand for the outpatient clinics globally.
Demand for quick and effective treatment of cardiovascular diseases will continue to contribute towards the global market growth of outpatient disorders. According to a recently published report by CDC, nearly 610,000 people die of heart attack in the U.S. each year, which is 1 in every 4 deaths. As cardiovascular diseases continue to remain a leading cause of mortality globally, demand for effective and quick treatment process will continue to remain high. These factors are projected to impact the global market growth of outpatient clinics throughout the forecast period.
Collaborations among the private insurance companies and outpatient clinics will continue to remain a major trend in the global market. Through collaborations the private insurance companies offer payment and services in outpatient clinics. Imposition of regulations such as Health Care and Educational Reconciliation Act and Patient Care Affordable Act provides the U.S. citizens with the public health insurance coverage and offers access to private health insurance services. Moreover, increasing employee benefits such as Employees’ health insurance by the employers is projected to contribute towards the global market growth of outpatient clinics over the forecast period.
However, the global market of outpatient clinics will continue to witness inhibiting growth attributed to various factors. Imposition of strict regulations and limited number of doctors for the treatment of various diseases will remain a key factor inhibiting demand for services offered by outpatient clinics. As the patients are not monitored for a long period of time, risk of addiction to alcohol and drugs is projected to remain high. Moreover, lack of access to counselors in comparison to the residential and inpatient facility is further projected to impede the global market growth of outpatient clinics.
Sales to Remain High Through Cardiology Specialty Areas
Prevalence of chronic and cardiovascular disorders is projected to fuel demand for the multi-specialty centers globally. In terms of revenue, the multi-specialty center type segment is projected to witness significant growth, representing more than US$ 8,400 Mn by 2022-end. Moreover, the multi-specialty center type segment is projected to reflect the fastest growth in the global market of outpatient clinics throughout the forecast period.
On the basis of specialty type, the dermatology segment is projected to reflect a significant CAGR through 2022. However, the cardiology specialty areas segment is projected to represent a robust revenue growth, recording more than US$ 3,000 Mn over the forecast period.
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Major players in the global market of outpatient clinics are Kaiser Permanente Inc., M D Anderson Cancer Center, Mayo Clinic, Memorial Sloan Kettering, University of Maryland Medical Center, DaVita Inc., Cleveland Clinic, Fresenius Medical Care and Johns Hopkins Medicine.