Hospital Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Ownership (Public v/s Private), By Type (General, Specialty, Multi- Specialty), By Type of Services (In-Patient Services v/s Out-Patient Services), By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds), By Region and Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHospital Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Ownership (Public v/s Private), By Type (General, Specialty, Multi- Specialty), By Type of Services (In-Patient Services v/s Out-Patient Services), By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500 beds), By Region and Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 4,522.30 Billion |
| CAGR (2023-2028) | 6.92% |
| Fastest Growing Segment | Out-Patient Services |
| Largest Market | North America |
Market Overview
Key Market Drivers
High Prevalence of Diseases
Increasing Healthcare Expenditures by Different Governments Across the Globe
Increase In the Penetration of Health Insurance Services
Increasing Awareness and Advancements Pertaining To Diagnostic Technologies
Key Market Challenges
High Cost of Surgical Procedures
Shortage of Professionals
Key Market Trends
Adoption of Digital Health Technologies
Growth of Specialized and Super-Specialized Hospitals
Segmental Insights
Ownership Insights
The market has been segmented based on hospital ownership type, specifically public and private hospitals. The hospital market structure has been influenced by the privatization of the hospital industry in the U.S. and U.K. Many retail clinics are affiliated with private hospitals. On a global scale, the hospital ownership segment reflects the revenue generated by different types of hospital institutions in each region.
The hospital market is expected to demonstrate growth, primarily driven by private and public hospitals. Public hospitals continue to hold the largest market share worldwide. These hospitals have a significant number of patient beds and provide specialized departments catering to various service areas and medical conditions. However, in the future, especially in developed regions, these hospitals are projected to experience a declining market share.
Type of Services
Based on type of services, the market is segmented into in-patient services v/s out-patient services. The outpatient services segment is anticipated to experience the fastest growth during the forecast period. Outpatient services encompass a wide range of medical procedures, tests, and services that can be provided to patients without requiring an overnight hospital stay. This convenient and efficient approach not only allows for shorter patient stays but also helps mitigate the high costs associated with inpatient services. Moreover, the increasing adoption of minimally invasive surgical procedures and the continuous advancements in surgical equipment and devices are playing a pivotal role in bolstering the growth of the outpatient services segment. The ability to provide timely and effective healthcare services while minimizing patient inconvenience and reducing healthcare expenses makes outpatient services a crucial component of the healthcare industry.
Regional Insights
In 2022, North America emerged as the dominant region in the market. This can be attributed to the rising cost of medical services and the increasing incidence of cancer, which are expected to drive market growth during the forecast period. However, it is worth noting that Asia Pacific is anticipated to witness the fastest growth over the same period. This growth can be attributed to several factors, including the continuous improvement in the quality of hospital services and the rising number of private players in countries such as China, India, and Thailand. These factors together are expected to fuel the growth of the regional market, making it a promising area to watch in the coming years.
Recent Developments
- In August 2022,Apollo Hospitals made a strategic move into the Haryana and NCR region byacquiring a hospital on the Golf Course Road in Gurugram from Nayati Healthcareand Research Center at NCR for a sum of ₹450 crore. This acquisition positionsApollo to target the local NCR market and tap into the potential of medicaltourism, while leveraging its robust digital platform, Apollo 24×7. It's worthnoting that this acquisition was internally funded by the group. Thisdevelopment is part of a series of significant acquisitions that have madewaves in the Indian healthcare industry this year.
Key Market Players
- Ramsay Health Care Limited
- Community Health Systems, Inc.
- Spire Healthcare Group plc
- Tenet Healthcare Corporation
- Universal Health Services, Inc.
- IHH Healthcare Berhad
- Apollo Hospitals Enterprise Limited
- HCA Healthcare, Inc.
- Fresenius SE & Co. KGaA
- ORPEA Group
| By Ownership | By Type | By Type of Services | By Bed Capacity | By Region | |||
|
|
|
|
|
|
| |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy