PeoplePay’s Philip Hines-Keeler on the boom in private healthcare.
The UK’s private healthcare sector is thriving – and showing no signs of slowing down – even against the backdrop of a cost-of-living crisis. From small start-ups to multinational corporations, providers across the industry are reporting rising revenues and growing demand for their services.
For entrepreneurs and investors, healthcare is proving to be a sector with resilience and long-term potential. An ageing British population means demand for medical services, care facilities and specialist treatments is only expected to increase in the years ahead. Unlike other industries, healthcare is less exposed to downturns in consumer spending because it fulfils such a vital role.
The scale of the growth is striking. The private healthcare market is now worth a record £12.4 billion, covering around 16.4 million people across the UK. More individuals and families are choosing private options – whether for speed of access, specialist services or simply greater flexibility – and that trend is fuelling further expansion.
Investors are taking notice. More than 90% plan to increase their allocations into healthcare, with particular interest in specialist care homes, which are seen as stable, long-term investments. These facilities not only meet an urgent social need but also offer steady returns, making them attractive in uncertain economic times.
It isn’t just traditional healthcare that’s booming. The life sciences sector is also surging, currently valued at around £100 billion and employing some 300,000 people nationwide. Recent government announcements have added further momentum, with £520 million earmarked for innovation and manufacturing, alongside £600 million for a new national health data service. This level of support is helping position the UK as a global leader in medical research and biotechnology.
For those considering launching a business in this growing sector – whether in care, clinical services, technology or life sciences – the opportunities are substantial. But while the potential is exciting, the practical challenges of running a healthcare business, from compliance to managing payroll, can be complex.
That’s where we at PeoplePay Global can help. Whether you’re taking your first steps in healthcare or scaling up an existing operation, our team can guide you through payroll management and support your growth, no matter how many staff you employ.
If you’re ready to explore opportunities in this thriving sector, Contact us to find out how we can support your new or expanding business.