The number of hospitals in China has shown a consistent increase from 2013 to 2023, growing from 24.71 thousand to 38.84 thousand, reflecting a sustained year-on-year growth rate. Particularly noticeable is the high growth period between 2013 and 2017, where the year-on-year growth rates ranged between 4.66% and 6.64%, resulting in a Compound Annual Growth Rate (CAGR) of about 5%-6%. From 2018 onwards, the growth rate began to decelerate gradually, with the CAGR dropping to 3.31% by 2023.
Forecasts from 2024 to 2028 indicate a continued, albeit slower, growth trend, with the number of hospitals projected to reach over 44 thousand by 2028. The five-year forecast CAGR is estimated at 2.02% with an overall growth rate of 10.5% during this period.
Future trends to watch for include:
- Continued urbanization and its impact on healthcare infrastructure demand.
- Government policies aimed at increasing healthcare accessibility and improving the quality of hospital services.
- Technological advancements and their integration into hospital operations, potentially affecting the rate of hospital expansion.