The need for fast and reliable healthcare services in driving the outpatient market. Private office-based clinics address this need. These private office-based clinics offer quick diagnosis and treatment to patients such that the patient does not require to stay at the healthcare facility for over a few hours. Use of advance technology and minimally invasive procedures allows private office-based clinics diagnose and treat their patients quickly. Collaborations with private health insurance companies is expected to boost the growth of the private office-based clinics. Moreover, rise in employee benefits such as Employees’ health insurance is projected to contribute towards the growth of the global private office-based clinics market over the forecast period. However, factors such as stringent regulations, dearth of healthcare practitioners, and rising healthcare cost will continue to hinder the growth of the market throughout the forecast period.
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Rise in cardiovascular disorders is expected to fuel the growth of the multi-specialty centers segment that is projected to grow at a significant rate throughout the forecast period. Increase in chronic cardiology conditions and rise in minimally invasive procedures is expected to support the growth of the cardiology segment of the private office-based clinics market, by application. Another rising application is that of dermatology segment. Increasing ageing population and increase in aesthetic procedures globally is expected to drive the growth of the dermatology segment of the private office-based clinics market, by application.
Significant reduction in in-patient visits is a trend that most hospitals are witnessing due to the increase in outpatient visits. Rise in outpatient visits across the globe is expected to be one of the dominating trends that drive the growth of private office-based clinics market.
Private office-based clinics Market: Drivers and Restraints
Rise in ageing population, increasing prevalence of chronic diseases, rise in healthcare expenditure, are some of the factors that support the growth of the private office-based clinics market through the forecast period. Other factors such as government support and regulations is expected to boost the growth of the private office-based clinics market in the near future. However, factors such as limited reimbursement in private office-based clinics is expected to hinder the growth of the private office-based clinics market. Other factors such as need for capital investment for the establishment of new private office-based clinics along with need for equipped and trained staff and professionals may affect the growth of the private office-based clinics marketed slightly.
Private office-based clinics Market: Segmentation
The global Private office-based clinics market is segmented by type of clinic, application and region:
Based on the type of clinic, the global Private office-based clinics market is segmented into:
- Single Specialty Centers
- Multi-Specialty Centers
- Surgical Centers
- Diagnostics Centers
Others Based on the application, the global Private office-based clinics market is segmented into:
Private office-based clinics Market: Overview
Private office-based clinics market is segmented into type of clinics, application and regions. Private office-based clinics service provides have a number of services that may be bundled or singular services. The services offered by the private office-based clinics can be broadly categorized based on application as cardiology, dental, pulmonology, orthopedic, ophthalmology and others. Based on type of clinic, the private office-based clinics can be classified as single specialty centers, multi-specialty centers, surgical centers and diagnostic centers.
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Private office-based clinics Market: Regional Outlook
North America takes the maximum share of the private office-based clinics market. This is due to increased healthcare budget, rise in awareness, advancement in technology, and increasing number of minimally invasive procedures in the regions. However in regions such as China and India, the growing demand for minimally invasive procedures, ageing population and limited number of healthcare professionals has created an opportunity for the growth of the Private office-based clinics market in such regions. Thus, the Private office-based clinics market is expected to grow with a significant CAGR in the APAC region.