Hospital Services Market Size to Hit USD 15.45 Trillion by 2027

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The global hospital services market size is anticipated to hit around USD 15.45 Trillion by 2027 from USD 8.22 Trillion in 2019 and poised to grow at a compound annual growth rate (CAGR) 8.2% during the forecast period 2020 to 2027.

The main objective of this report is to define, describe, and forecast the global market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in market.

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Report Highlights

  • In 2019, North America emerged as a global leader accounting for a revenue share of nearly 50% in the global market due to rising cancer cases and cost of medical services
  • The Asia Pacific exhibits attractive growth over the forecast period. Increasing investment for the developed of hospitals and rising number of private market players
  • By service area, cancer and cardiovascular care were observed as the prominent revenue shareholder owing to aging population and cancer cases across the world
  • Based on service type, inpatient service was the prominent segment in the global market because of hospitalization procedures that require long hospital stay
  • Development in the communication technology anticipated to spur the growth of outpatient service over the analysis period
  • In 2019, community hospitals were the largest revenue contributor and observed to grow at a steady pace during the coming years.
  • Private hospitals seek lucrative growth over the forecast period due to the expansion of specialist capabilities and specifically cater to the critical patients

COVID-19 Impact

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the hospital services market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

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Major highlights of Report:

  • Figures related to sales volume, market remuneration, and segmental shares
  • Featuring market dynamics
  • Growth prospects and expansion graph
  • PROCON study of direct & indirect sales channels
  • Profiles of prominent traders, dealer, and distributors in the industry

Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa

  • Industry forecasts based on region and at country level
  • Data about sales volume recorded, industry share held, and profit margins amassed
  • Overall remuneration and estimated growth rate for each regional market

Major Key Points Covered in Report:

Executive Summary: It includes key trends of the hospital services market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the hospital services market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Hospital services market.

Market Segments: This part of the report discusses about product, application and other segments of the hospital services market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Certain of the leading players in the hospital services sector are as below:

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

Market Segmentation

By Hospital Type

  • State-owned Hospital
  • Private Hospital
  • Public/ Community Hospital

By Service Type

  • Outpatient Services
  • Inpatient Service

By Service Areas

  • Cardiovascular
  • Acute Care
  • Cancer Care
  • Diagnostics, and Imaging
  • Neurorehabilitation & Psychiatry Services
  • Gynecology
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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