In the year 2019, the estimated revenue generated by German Healthcare Market was approximately USD 103 Billion. The subsidiary hospital activities generated roughly 73.4% of the revenue. This value translates to an amount of about USD 5575 per person, with a 4% increase as compared to 2017. In 2017, the German healthcare facility spent approximately USD 1.18 Billion per day, excluding charges for fitness and maintenance. By the year 2018, health care spending accounted for roughly 11.7% of the GDP. Towards the year 2018, the German Healthcare Market had roughly 357,000employees including both direct as well as indirect jobs. Global Market Database is a world’s first dynamic Market Research Platform which provides free market research tools.
The key players within this market who have been accelerating the growth of the German healthcare sector include Friedrich Bohlen, Marco Vietor, and Daniel Nathrath. Friedrich Bohlen is one of the key players propelling the growth of the German health care sector with a revenue generation of around USD 106.55 Million with roughly 462,000 employees.
Analysis based on the profiling for these companies has been obtained from health care market research reports. The across the value chain can be studied using Global Market Database (GMD). Dynamic Market Data (DMD) is used by GMD to understand the changing trends and to provide Market Research Reports For Free.
Regulations in German Healthcare
The German healthcare system is harmonized by the Federal Joint Committee which is a public health organization. This organization is authorized to make bidding regulations out of health reform bills passed by lawmakers. They also look after the routine decisions made in Germany. One of the key discussions amongst this group is to decide which treatments and therapeutics the insurances must pay by law. The decision is based on the health care solution being economic, sufficient, and appropriate in terms of the patient and well as the spending. Thus ensuring optimal utilization of the funds with the more effective solutions. Global Market Database is an effective Market Research Software that gives its users market wise quantitative inputs.
Health insurance facilities in Germany
Additionally, over the years the number of practicing doctors has increased by a factor of roughly 4.6%. In the year 2014, there were 4.11 doctors per 1000 citizens although by 2018 the value has increased to 4.31. According to the healthcare market research report released by the Euro health consumer index, Germany is said to be the most consumer-oriented and restriction-free health care system found in Europe. The service offered by the healthcare unit is extremely patient-oriented, thus the consumer satisfaction rate is very high for this market. Healthcare market research reports from the year 2017 state that the industry employed approximately USD 1.18 Million people with export in excess of USD 149.17 Billion.
The government health care system in Germany is currently keeping a record reserve of over 22 Billion which makes it one of the most lucrative and efficient health care systems found globally.
Types of health insurance in Germany
Citizens of Germany are offered two main types of health insurance as a part of the universal health insurance facility. The population is also offered three mandatory health benefits which are co-financed by the employer and the employee. The different types of services include health insurance, accident insurance, and long-term care insurance. Accident insurance is the segment that covers all health-related ailments during the commute or at the workstation. The employer covers these charges.
Long term care is an insurance facility that is of use when the individual is unable to perform his/her daily routines. This funding is partly covered by the employer and the other section of the payment is taken care of by the employee. This amount constitutes roughly 2% of the yearly salaried income or pension of the working individual. German health insurance is segmented into two parts including public and private health insurance. The statutory health insurance covers 87% of the residents within Germany. Students and civil servants can reap complementary coverage benefits from this service. Roughly 12% of the population is covered by private insurers.
