Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 5.7 % over the past five years, to reach an estimated $89.1bn in 2024.
Trends and Insights
The number of outpatients maintains overall growth
- As people's needs for medical and health services have been better met and guaranteed, the number of outpatients have been increasing on the whole. In the five years to 2024, the number of outpatients to TCM hospitals is estimated to increase at a CAGR of 1.1%, including the outpatient decrease in 2020.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The growing ageing population drive huge demand for medical service
- The birth rate has been decreasing from the highest record of 14.57‰ in 2012 to 6.4‰ in 2023. Despite the implementation of the two-child policy and the third-child policy, the birth rate is expected to continue the decreasing trend in the future.
Biggest companies in the Traditional Chinese Medicine Hospitals in China
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Guangdong Hospital of Traditional Chinese Medicine | 1,161.9 | |
Jiangsu Province Hospital of Traditional Chinese Medicine | 979.4 | |
Shandong Hospital of Traditional Chinese Medicine | 617.6 |
To view the market share and analysis for all 10 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Outpatient services, Inpatient services and Medicine sales. Outpatient services is the largest segment of the Traditional Chinese Medicine Hospitals in China.
Trends and Insights
Medicine sales are the largest source of revenue for TCM hospitals
- Medicine sales are the greatest source of revenue for TCM hospitals, contributing an estimated share of 45.6% in 2024.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
The Traditional Chinese Medicine Hospitals industry in China comprises licensed traditional Chinese medicine general hospitals and traditional Chinese medicine specialized hospitals. Integrated traditional Chinese and Western medicine hospitals and ethnic minority hospitals are not included in this industry.
What's included in this industry?
Diagnostics and examination servicesMedicine boiling servicesAcupuncture and moxibustion servicesManipulation services Scrape therapy servicesOther hospital servicesCompanies
Guangdong Hospital of Traditional Chinese MedicineJiangsu Province Hospital of Traditional Chinese MedicineShandong Hospital of Traditional Chinese MedicinePurchase this report to view all 10 major companies in this industry.
Related Terms
OUTPATIENTINPATIENTPREVENTION TREATMENT OF DISEASEMOXIBUSTIONACUPUNCTUREPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The ageing population generate higher demand for medical service. The increasing number of aging population are expected to drive continual demand for TCM hospitals.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Medicine sales contribute the largest revenue. Medicine sales account for an even higher proportion for TCM hospitals compared with other hospitals.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Distribution of general hospitals is closely related to economy development and population number. The well-developed and populous regions have more TCM hospitals.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
This industry has low concentration level. The TCM hospital market is very scattered, and the top four industry participants are estimated to account for 3.8% of revenue in 2...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Top enterprises have small market share. This industry is very scattered, even if the top enterprises, the market share is small.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Guangdong Hospital of Traditional Chinese Medicine's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Jiangsu Province Hospital of Traditional Chinese Medicine's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Shandong Hospital of Traditional Chinese Medicine's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 7 additional companies
Detailed analysis
- Description and key data for Guangdong Hospital of Traditional Chinese Medicine, and factors influencing its performance in the industry
- Description and key data for Jiangsu Province Hospital of Traditional Chinese Medicine, and factors influencing its performance in the industry
- Description and key data for Shandong Hospital of Traditional Chinese Medicine, and factors influencing its performance in the industry
- Description, key data and performance trends for 7 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
This industry has a medium level of capital intensity. Construction and operation of TCM hospital require large amount of capital, both traditional medicine devices and some ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profitability of this industry has decreased. The decreases of profitability was mainly caused by the rising purchase costs and decreasing share of subsidy from government.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Traditional Chinese Medicine Hospitals industry in China in 2024?
The market size of the Traditional Chinese Medicine Hospitals industry in China is $89.1bn in 2024.
How many businesses are there in the Traditional Chinese Medicine Hospitals in China industry in 2024?
There are 5,143 businesses in the Traditional Chinese Medicine Hospitals industry in China, which has grown at a CAGR of 4.0 % between 2019 and 2024.
Has the Traditional Chinese Medicine Hospitals industry in China grown or declined over the past 5 years?
The market size of the Traditional Chinese Medicine Hospitals industry in China has been growing at a CAGR of 5.7 % between 2019 and 2024.
What is the forecast growth of the Traditional Chinese Medicine Hospitals industry in China over the next 5 years?
Over the next five years, the Traditional Chinese Medicine Hospitals industry in China is expected to grow.
What are the biggest companies in the Traditional Chinese Medicine Hospitals market in China?
The biggest companies operating in the Traditional Chinese Medicine Hospitals market in China are Guangdong Hospital of Traditional Chinese Medicine, Jiangsu Province Hospital of Traditional Chinese Medicine and Shandong Hospital of Traditional Chinese Medicine
What does the Traditional Chinese Medicine Hospitals in China include?
Diagnostics and examination services and Medicine boiling services are part of the Traditional Chinese Medicine Hospitals industry.
Which companies have the highest market share in the Traditional Chinese Medicine Hospitals in China?
The company holding the most market share in China is Guangdong Hospital of Traditional Chinese Medicine.
How competitive is the Traditional Chinese Medicine Hospitals industry in China?
The level of competition is high and increasing in the Traditional Chinese Medicine Hospitals industry in China.
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Methodology
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IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in China include:
- National Bureau of Statistics China
- General Administration of Customs
- People’s Bank of China
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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