General Medical Practices in the UK - Industry Market Research Report
Description
General Medical Practices in the UK
Publicly funded practices, who dominate the industry, have come under pressure due to restricted funding and surging demand. Slower growth in government funding and rising demand for GP services from an expanding and ageing population have led to growing pressure on doctors. This has limited revenue and affects the recruitment and retention of GPs. According to data from the Long Term Workforce Plan, as of April 2023, the number of patients per GP was 2,292, an increase of 7.1% since 2019. The government has encouraged more private doctors to enter the industry to relieve some of the pressure on the system and introduce competition to encourage efficiency improvements but its' target of employing 6,000 GPs by 2024 will not be met. Falling disposable income, amid high inflation, has squashed some demand for private care but long NHS waiting times for appointments has caused demand for private providers to rise, with revenue expected to grow at a compound annual rate of 0.2% over the five years through 2023-24. COVID-19 took its toll on GP's performance in 2020-21, with a 41.8% decline in appointments due to social distancing measures between January 2020 and April 2020, according to NHS Digital. Revenue has bounced back in the three years through 2023-24 as demand continues to surge, increasing 2.6% to £15.7 billion. Many people are more confident to come forward for care, now the COVID-19 pandemic has been declared over by WHO.
The General Medical Practices industry is composed of general practitioners and their staff. Companies offer general medical consultations and treatment. Specialist medical treatment and paramedics are excluded from the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Publicly funded practices, who dominate the industry, have come under pressure due to restricted funding and surging demand. Slower growth in government funding and rising demand for GP services from an expanding and ageing population have led to growing pressure on doctors. This has limited revenue and affects the recruitment and retention of GPs. According to data from the Long Term Workforce Plan, as of April 2023, the number of patients per GP was 2,292, an increase of 7.1% since 2019. The government has encouraged more private doctors to enter the industry to relieve some of the pressure on the system and introduce competition to encourage efficiency improvements but its' target of employing 6,000 GPs by 2024 will not be met. Falling disposable income, amid high inflation, has squashed some demand for private care but long NHS waiting times for appointments has caused demand for private providers to rise, with revenue expected to grow at a compound annual rate of 0.2% over the five years through 2023-24. COVID-19 took its toll on GP's performance in 2020-21, with a 41.8% decline in appointments due to social distancing measures between January 2020 and April 2020, according to NHS Digital. Revenue has bounced back in the three years through 2023-24 as demand continues to surge, increasing 2.6% to £15.7 billion. Many people are more confident to come forward for care, now the COVID-19 pandemic has been declared over by WHO.
The General Medical Practices industry is composed of general practitioners and their staff. Companies offer general medical consultations and treatment. Specialist medical treatment and paramedics are excluded from the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
41 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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