The global hospital services market size is expected to be worth around US$ 15.8 trillion by 2030, according to a new report by Vision Research Reports.
The global hospital services market size was valued at US$ 8.8 trllion in 2020 and is anticipated to grow at a CAGR of 9.1% during forecast period 2021 to 2030.
|Market Size||USD 15.8 trillion by 2030|
|Growth Rate||CAGR of 9.1% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Service type, Hospital type, Service areas|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||HCA Healthcare; Mayo Clinic; Cleveland clinic; Tenet Healthcare; Spire Healthcare Group plc; Community Health Systems, Inc.; Fortis Healthcare; Ramsay Healthcare|
Growing incidence of cancer & other chronic diseases and high cost of treatment are expected to be the vital impact rendering drivers for the market.
Medical costs have increased in the last few decades. Advanced diagnostic technology has paved the way for improved & early disease detection and aided research on treatments for terminal diseases, such as cancer. Medical innovation is primarily fueled by the sales profits made by various cutting-edge medical institutions. With increasing awareness and affordability, the market for medical services is expected to grow, which is already evident among many developed nations, as healthcare services contribute significantly to the growth of their GDP.
By Service Area Analysis
Hospital service areas are segmented by medical conditions into acute care, cancer care, cardiovascular, neurorehabilitation & psychiatry services, pathology lab diagnostics & imaging, obstetrics & gynecology, and others. Each service area covers a significant condition for a demographic and observes major diseases/conditions with high prevalence.
Among these segments, cancer and cardiovascular care were observed to be the largest individual in terms of medical costs incurred. The rise in the incidence of cancer and a globally aging population are expected to promote the growth of this segment.
By Service Type Analysis
Based on type, the hospital services market has been classified into inpatient and outpatient services. Till recently, inpatient services, including hospitalization procedures that require a patient stay, were considered as a primary revenue source for hospitals.
The outpatient market, on the other hand, is expected to grow in the future as a result of development in communication technology, which paved the way for the growth of telemedicine and remote consultation procedures.
By Hospital Analysis
The market has been segmented on the basis of hospital ownership type into private, state-owned, and community/public hospitals. The hospital market structure was influenced by the privatization of the hospital industry in the U.S. and U.K.
The hospital services industry is expected to exhibit growth, majorly attributed to private and community hospitals. Community/public hospitals remain the largest segment globally. Community hospitals are observed to have the largest number of patient beds and cater to numerous service areas/medical conditions via their specialized departments.
By Regional Analysis
North America accounted the regional segment in 2020 and held around 49.0% of revenue share. The rising cost of medical services and the increasing incidence of cancer in North America are expected to fuel the market growth during the forecast period.
However, Asia Pacific is anticipated to witness the fastest growth over the forecast period. Improving the quality of hospital services and the rising number of private players in countries such as China, India, & Thailand are expected to fuel the growth of the regional market.
Spire Healthcare Group plc
Community Health Systems, Inc.
Neurorehabilitation & Psychiatry Services
Pathology Lab, Diagnostics, and Imaging
Obstetrics & Gynecology
Middle East & Africa
The Hospital Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Hospital Services market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Hospital Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hospital Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hospital Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Hospital Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Hospital Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hospital Services market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hospital Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hospital Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Hospital Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Hospital Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hospital Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hospital Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hospital Services market. These factors have benefited the growth of the global market for Hospital Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hospital Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Hospital Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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