The Market
73.5%
Potential Marketshare for the Illawarra
652
out of a total of 665 beds
55,000+
At least 55,000 new homes in the area.
There are substantial outflows from the Illawarra region to metropolitan Sydney private hospitals because there is inadequate local private hospital supply. As of the 30th of June 2012 the Illawarra was 665 Beds in arrears.
The local market comprises by number of people:
- Wollongong
- increasing 32,000 to 234,000 by 2030
- Kiama
- increasing by 8,500 to 23,900
- Shellharbour
- increasing by 23,000 to 89,000
- Shoalhaven
- increasing to 100,400
- Kiama
- will increase by 1.7% annually
- Shellharbour
- will increase by 1.5% annually
Most of the growth will come from:
- Young families, with high fertility rates, resulting in demand for obstetrics, paediatrics and general practice
- Retirees with ageing population profile and increased health needs, especially chronic disease management
- Immigration
- Institutional Medical Care (A Gaol is being developed in West Dapto)
Each group requires a higher proportion of medical services than does the rest of the population in what is effectively a recession-proof industry.