Ophthalmology Emerges as Major Industry Segment
China’s ophthalmology services sector has traditionally been concentrated in general hospitals. While this is still the case, the number of private hospitals specializing in ophthalmology services is increasing. Ophthalmology services were worth RMB54 bn in 2014, after exhibiting a stunning 19% CAGR from 2005 to 2014. The increasing demand for cataract surgeries has been a major driver boosting the demand for eye specialty private hospitals. More than that, though, it is China’s massive patient pool of myopia that’s expected to be the major determinant factor in the China private hospitals industry’s growth in the coming years.
Dentistry has also benefitted significantly from the expansion of China’s private hospitals industry. Thanks to the increasing awareness about dental and oral diseases among China’s growing urban population, the China dentistry specialty private hospitals industry is expected to exhibit a steady growth rate in the coming years. The dentistry industry exhibited a robust 16% CAGR from 2005 to 2014.
Major Players Aim for Expansion
The top players in the field of both ophthalmology and dentistry are aiming to achieve significant expansion in the coming years, with ophthalmology giant Aier committed to reach 200 hospitals by 2017, which would represent a 100% growth over its current number of 100, and dentistry giant Topchoice aiming to go beyond its dominance in the regional Zhejiang market and dominate the national market in the ongoing decade.