Industry Analysis & Industry Trends
The General Hospitals industry is growing strongly. Public hospitals receive most of their funding from state and federal governments. Private hospitals primarily generate revenue from private health benefit payments and out-of-pocket patient fees. Demand for general hospitals has surged over the past five years, due to Australia's ageing population and the rising incidence of chronic illness among adults. Private hospitals have received a further boost from increased private health insurance membership. Industry revenue is expected to increase by an annualised 3.4% over the five years through 2016-17, to be worth $63.3 billion.
In line with industry trends over the past five years, industry revenue is projected to rise by 3.3% in the current year... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The General Hospitals industry is in a growth phase of its life cycle as demand for hospital services rises to meet the demands of Australia's ageing population. The number of patients treated has grown strongly over the five years through 2016-17. Healthcare policy is currently focused on addressing the needs of the ageing population and the growing prevalence of chronic illnesses, such as diabetes and heart disease.
Industry value added (IVA) measures the industry's contribution to the overall economy. IVA is forecast to climb by an annualised 4.3% over the 10 years through 2021-22. This exceeds projected growth in Australia's real GDP at a compound annual rate of 2.5% over the same period, indicating that the industry's contribution to the overall economy is expanding... purchase to read more