An increasingly aging population and an expanding medical insurance system are boosting demand for traditional Chinese medicine hospitals.
Los Angeles, CA (PRWEB) April 01, 2012
Traditional Chinese medicine is playing an increasing role in disease prevention and treatment. Recent healthcare reform has encouraged the development of traditional Chinese medicine (TCM) and the Chinese government has increased the fiscal allowance to TCM hospitals. As a result, the development of the Traditional Chinese Medicine Hospital industry has accelerated in recent years. In 2012, revenue for this industry is expected to reach $25.7 billion, up 14.8% from 2011 and representing annualized growth of 20.4% from 2007.
IBISWorld estimates that the top four TCM hospitals–Guangdong Hospital of Traditional Chinese Medicine, Guang'anmen Hospital, and Beijing Hospital of Traditional Chinese Medicine–hold a combined share of 3.1% of total industry revenue in 2012. Wholly foreign-owned traditional Chinese medicine institutions are forbidden in China; state-owned and collectively owned hospitals dominate this industry. With the government attaching increasing importance to traditional Chinese medicine, the number of TCM hospitals is forecast to grow, although the industry concentration level for is expected to remain low in the future.
An increasingly aging population, improving per capita incomes, and an expanding medical insurance system will contribute to steady demand growth for TCM hospital services and stable industry development over the next five years. In addition to supporting the construction of new hospitals, the Chinese Government has committed to promoting the development of qualified hospital personnel in the industry.
For more information, visit IBISWorld’s Traditional Chinese Medicine Hospitals in China industry report page.
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IBISWorld industry Report Key Topics
The Traditional Chinese Medicine Hospital industry in China comprises licensed traditional Chinese medicine general hospitals and traditional Chinese medicine specialized hospitals. Integrated traditional Chinese and Western medicine hospitals and ethnic minority hospitals are not included in this industry.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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