Hospital Services Market: By Company Analysis, SWOT, Market Strategy and Global Forecast 2021-2030

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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.

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Hospital Services Market (By Service Type: Inpatient Service, Outpatient Services; By Hospital Type: Private Hospital, State-owned Hospital, Public/Community Hospital; By Service Areas: Acute Care, Cardiovascular, Cancer Care, Neurorehabilitation & Psychiatry Services, Pathology Lab, Diagnostics, and Imaging, Obstetrics & Gynecology, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size USD 15.8 trillion by 2030
Growth Rate CAGR of 9.1% From 2021 to 2030
Base Year 2021
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

Growth Factors

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.

Key Players

  • HCA Healthcare
  • Mayo Clinic
  • Cleveland clinic
  • Tenet Healthcare
  • Spire Healthcare Group plc
  • Community Health Systems, Inc.
  • Fortis Healthcare
  • Ramsay Healthcare

Market Segmentation

  • Service Type
    • Inpatient Service
    • Outpatient Services
  • Hospital Type
    • Private Hospital
    • State-owned Hospital
    • Public/Community Hospital
  • Service Areas
    • Acute Care
    • Cardiovascular
    • Cancer Care
    • Neurorehabilitation & Psychiatry Services
    • Pathology Lab, Diagnostics, and Imaging
    • Obstetrics & Gynecology
    • Others
  • Regional
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Italy
      • France
      • Spain
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Columbia
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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