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Global Hospital Market Size, Share, Trends, Research, Report: By Ownership: Public, Private, Semi - Government Hospital, Voluntary Agency Hospital; By Type: General, Multi- Specialty, Specialty, Teaching Cum Research Hospital; By Type of Care; By Bed Capacity; By Type of Services; Regional Analysis; Supplier Landscape; 2024-2032
Global Hospital Market Outlook
The global hospital market size was valued at USD 5,499.54 billion in 2023, driven by increasing demand for access to healthcare and chronic diseases across the globe. The market size is anticipated to grow at a CAGR of 7.6% during the forecast period of 2024-2032 to achieve a value of USD 10,632.54 billion by 2032.
Global Hospital Market Overview
The growth of the market is primarily being driven by the rising healthcare infrastructure across the globe. Other key drivers bolstering the growth of the market include the rising population of healthcare professionals including doctors and nurses, increasing prevalence of diseases and accidents. Rapid technological advancements are also providing significant impetus to the development of the market. Increasing support and funding from governments and other organisations have also been aiding hospital market growth.
The global market for hospitals has been witnessing robust growth over the past few years owing to the rising demand for more facilities. The rising demand for effective treatment and emergency care is also pushing the demand for hospitals. Governments and private organisations across the globe are increasingly investing in developed healthcare facilities.
Rising Prevalence of Different Diseases
The hospital market demand is driven by the increasing prevalence of chronic diseases such as cardiovascular diseases, diabetes, kidney diseases, lung diseases, and neurological diseases, among others. The urgency to address this crucial gap is necessary. It is estimated by the World Health Organization that cardiovascular diseases (CVDs) are the leading cause of death globally, claiming an estimated 17.9 million lives each year.
CVDs are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, and rheumatic heart disease, among other conditions. More than four out of five CVD deaths are due to heart attacks and strokes, and one-third of these deaths occur prematurely in people under 70 years of age. The most important behavioural risk factors of heart disease and stroke are unhealthy diet, physical inactivity, tobacco use, and harmful use of alcohol.
Rising Incidence of Road Accidents
The increasing number of road accidents that require emergency care, unforeseen injuries, and workplace accidents also contribute to the global hospital market share. In October 2023, the Ministry of Road Transport and Highways’ annual report on road accidents concluded that an estimated 461,312 incidents took place in 2022 causing injuries to 443,366 people. The year marked an increase of 11.9% in accidents, 9.4% in fatalities, and 15.3% in injuries compared to 2021. The mentioned numbers create a huge sense of urgency for the government to provide the necessary care for the individuals who suffered these incidents and are expected to suffer in the forecast period by providing accessible healthcare.
Increased Footfall followed by the Development of Advanced Technologies
In November 2023, the clinical launch of the OmniTom Elite Photon Counting mobile CT scanner, a single-source photon counting computed tomography scanner utilizing NeuroLogica’s proprietary detector technology (PCD), was announced to be featured at the yearly meeting.
The OmniTom Elite Photon Counting mobile CT scanner enhances patient care by enabling bedside CT scans for critically ill individuals. This real-time imaging capability improves diagnostic options, enhances patient experience, and is likely to drive increased demand, positively impacting global hospital market growth.
Strategic Collaborations to Aid the Development
In September 2023, BT launched new AI and digital services in diagnostics to support the NHS in tackling wait times and speeding up diagnosis for patients. At the same time, it is building on its ability to become a digital aggregator for an overstretched health service faced with a flood of new AI tools. The company is currently collaborating with two specialist health technology companies deepc, which designs operating systems for AI radiology solutions, and AXON Diagnostics, which provides workflow systems for radiology and pathology reporting to reduce healthcare professionals' time by connecting them with new AI tools and opening the benefits of digital diagnosis to more hospitals safely and responsibly.
BT's collaboration with deepc and AXON Diagnostics to provide AI-powered diagnostic services for the NHS could positively contribute to the hospital market share. By improving efficiency, reducing wait times, and enhancing diagnostics, it sets a precedent for AI-driven solutions, potentially influencing global healthcare practices.
Increasing Innovation to Provide Significant Impetus
The global hospital market demand can also be attributed to the increasing integration of artificial intelligence AI to assist healthcare professionals and perform major operations while saving time. The use of algorithms and machine learning in detecting, diagnosing, and treating disease has become a significant area of life sciences.
Additionally, machine learning has also played a vital role in the advancement of healthcare facilities as they can be used to predict the severity of the disease at an early stage and with the help of the patient's medical history which can further enable timely treatment.
Widespread adoption of mHealth in hospitals globally enhances efficiency, patient engagement, and remote care, fostering technological advancement. This positively impacts the market growth by improving healthcare delivery and accessibility.
Global Hospital Market Segmentations
Market Breakup by Ownership
- Public
- Private
- Semi - Government Hospital
- Voluntary Agency Hospital
Market Breakup by Type
- General
- Multi-Specialty
- Specialty
- Teaching Cum Research Hospital
Market Breakup by Type of Care
- Primary Care
- Secondary Care
- Tertiary Care
Market Breakup by Bed Capacity
- Small Hospital (Up to 100 Beds)
- Medium Hospital (101-300 Beds)
- Large Hospital (More than 300 Beds)
Market by Type of Services
- In-patient Services
- Outpatient Services
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Hospital Market Regional Analysis
North America has been leading the global market for hospitals owing to the rising facilities and policies from the government. The significant development in the healthcare sector is also propelling the growth of the market.
For instance, In June 2023, Swift Medical, a digital health technology company focused on improving clinical and economic outcomes in wound care, announced a strategic partnership with Corstrata, a leader in virtual wound care delivery, to enhance and expand access to high-quality wound care.
Joint customers will now be able to leverage Corstrata’s team of certified Wound, Ostomy, and Continence (WOC) nurses as well as Swift’s leading, AI-powered wound care platform, which offers superior wound imaging, documentation, collaboration, and decision support tools.
This collaboration will bring AI-powered wound care and virtual access to certified specialists, enhancing efficiency and reducing costs for global hospitals. With improved clinical outcomes and resource savings, this collaboration contributes to overall hospital market share by advancing quality patient care and optimizing healthcare resources.
Asia Pacific, on the other hand, is anticipated to witness the fastest growth over the coming years. This can be attributed to the rapidly growing healthcare infrastructure in the region and the rising geriatric population. The rapidly rising technological advancements in the region are also contributing to the growth of the market. Market players trying to expand their services and infrastructure in Indian market is a major factor fostering the market growth in the region.
For instance, in June 2023, Cancer care provider HealthCare Global Enterprises (HCG) announced that they are exploring a mix of organic and inorganic opportunities for growth and expansion in India over the next 3-5 years. They mentioned their focus on improving medical infrastructure and expanding the capacity of their existing centres in India. BCG has seen significant growth in patient volumes in key markets such as Jaipur and Mumbai.
HCG's strategic focus on expanding cancer care services and improving infrastructure in India is likely to contribute positively to the global hospital market growth. Increased patient volumes and enhanced profitability efforts are expected to strengthen HCG's position in the market, potentially influencing the broader healthcare sector's expansion worldwide.
Global Hospital Market: Competitor Landscape
In October 2023, Genesis HealthCare announced that four of its affiliated skilled nursing facilities have been recognized by Newsweek as one of America’s Best Nursing Homes for 2024. This prestigious award is presented by Newsweek and Statista Inc., the world-leading statistics portal and industry ranking provider.
The key features of the hospital market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- 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
- Netcare Limited
- Aster DM Healthcare Limited
- Quest Diagnostics Incorporated
- Universal Health Services, Inc.
- Genesis Healthcare
Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Ownership |
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| Breakup by Type |
|
| Breakup by Type of Care |
|
| Breakup by Bed Capacity |
|
| Breakup by Type of Services |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Hospital Market (2017-2032) Overview
3.1 Global Hospital Market (2017-2032) Historical Value (2017-2023)
3.2 Global Hospital Market (2017-2032) Forecast Value (2024-2032)
4 Global Hospital Market (2017-2032) Landscape*
4.1 Global Hospital Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Hospital Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Type of Services
5 Global Hospital Market (2017-2032) Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.2.1 Strengths
5.2.2 Weaknesses
5.2.3 Opportunities
5.2.4 Threats
5.3 Porter’s Five Forces Model
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Degree of Rivalry
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Hospital Market (2017-2032) Segmentation
6.1 Global Hospital Market (2017-2032) by Ownership
6.1.1 Market Overview
6.1.2 Public
6.1.3 Private
6.1.4 Semi - Government Hospital
6.1.5 Voluntary Agency Hospital
6.2 Global Hospital Market (2017-2032) by Type
6.2.1 Market Overview
6.2.2 General
6.2.3 Multi- Specialty
6.2.4 Specialty
6.2.5 Teaching Cum Research Hospital
6.3 Global Hospital Market (2017-2032) by Type of Care
6.3.1 Market Overview
6.3.2 Primary Care
6.3.3 Secondary Care
6.3.4 Tertiary Care
6.4 Global Hospital Market (2017-2032) by Bed Capacity
6.4.1 Market Overview
6.4.2 Small Hospital (Up to 100 Beds)
6.4.3 Medium Hospital (101-300 Beds)
6.4.4 Large Hospital (More than 300 Beds)
6.5 Global Hospital Market (2017-2032) by Type of Services
6.5.1 Market Overview
6.5.2 In-patient Services
6.5.3 Outpatient Services
6.6 Global Hospital Market (2017-2032) by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Hospital Market (2017-2032)
7.1 North America Hospital Market (2017-2032) by Ownership
7.1.1 Market Overview
7.1.2 Public
7.1.3 Private
7.1.4 Semi - Government Hospital
7.1.5 Voluntary Agency Hospital
7.2 North America Hospital Market (2017-2032) by Type
7.2.1 Market Overview
7.2.2 General
7.2.3 Multi- Specialty
7.2.4 Specialty
7.2.5 Teaching Cum Research Hospital
7.3 North America Hospital Market (2017-2032) by Country
7.3.1 United States of America
7.3.2 Canada
8 Europe Hospital Market (2017-2032)
8.1 Europe Hospital Market (2017-2032) by Ownership
8.1.1 Market Overview
8.1.2 Public
8.1.3 Private
8.1.4 Semi - Government Hospital
8.1.5 Voluntary Agency Hospital
8.2 Europe Hospital Market (2017-2032) by Type
8.2.1 Market Overview
8.2.2 General
8.2.3 Multi- Specialty
8.2.4 Specialty
8.2.5 Teaching Cum Research Hospital
8.3 Europe Hospital Market (2017-2032) by Country
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Others
9 Asia Pacific Hospital Market (2017-2032)
9.1 Asia Pacific Hospital Market (2017-2032) by Ownership
9.1.1 Market Overview
9.1.2 Public
9.1.3 Private
9.1.4 Semi - Government Hospital
9.1.5 Voluntary Agency Hospital
9.2 Asia Pacific Hospital Market (2017-2032) by Type
9.2.1 Market Overview
9.2.2 General
9.2.3 Multi- Specialty
9.2.4 Specialty
9.2.5 Teaching Cum Research Hospital
9.3 Asia Pacific Hospital Market (2017-2032) by Country
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 Australia
9.3.5 ASEAN
9.3.6 Others
10 Latin America Hospital Market (2017-2032)
10.1 Latin America Hospital Market (2017-2032) by Ownership
10.1.1 Market Overview
10.1.2 Public
10.1.3 Private
10.1.4 Semi - Government Hospital
10.1.5 Voluntary Agency Hospital
10.2 Latin America Hospital Market (2017-2032) by Type
10.2.1 Market Overview
10.2.2 General
10.2.3 Multi- Specialty
10.2.4 Specialty
10.2.5 Teaching Cum Research Hospital
10.3 Latin America Hospital Market (2017-2032) by Country
10.3.1 Brazil
10.3.2 Argentina
10.3.3 Mexico
10.3.4 Others
11 Middle East and Africa Hospital Market (2017-2032)
11.1 Middle East and Africa Hospital Market (2017-2032) by Ownership
11.1.1 Market Overview
11.1.2 Public
11.1.3 Private
11.1.4 Semi - Government Hospital
11.1.5 Voluntary Agency Hospital
11.2 Middle East and Africa Hospital Market (2017-2032) by Type
11.2.1 Market Overview
11.2.2 General
11.2.3 Multi- Specialty
11.2.4 Specialty
11.2.5 Teaching Cum Research Hospital
11.3 Middle East and Africa Hospital Market (2017-2032) by Country
11.3.1 Saudi Arabia
11.3.2 United Arab Emirates
11.3.3 Nigeria
11.3.4 South Africa
11.3.5 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Ramsay Health Care Limited
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Community Health Systems, Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Spire Healthcare Group plc
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Tenet Healthcare Corporation
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Universal Health Services, Inc.
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 IHH Healthcare Berhad
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Apollo Hospitals Enterprise Limited
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 HCA Healthcare, Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Fresenius SE & Co. KGaA
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 ORPEA Group
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Netcare Limited
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Aster DM Healthcare Limited
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Quest Diagnostics Incorporated
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Universal Health Services, Inc.
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 Genesis Healthcare
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
List not exhaustive
18 Global Hospital Market (2017-2032) - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
Key Questions Answered in the Report
The market attained a value of about USD 5,499.54 billion in 2023, driven by increasing prevalence of chronic diseases.
The market is anticipated to grow at a CAGR of 7.6% during the forecast period of 2024-2032 and is likely to reach a market value of USD 10,632.54 billion by 2032.
The factors aiding the market demand include the increasing number of road accidents, increasing prevalence of cardiovascular diseases, diabetes, kidney diseases, lung diseases, and neurological diseases, among others. The increasing technological advancements in hospital technologies and new equipment launches, rising recognition in the market of key players’ services.
The increasing collaborations and partnerships between market players is a major trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
Based on ownership, hospitals can be categorized into public, private, semi-government hospitals, and voluntary agency hospitals.
There are general hospitals, multi-specialty hospitals, specialty hospitals, and teaching cum research hospitals.
Hospitals provide primary care, secondary care, and tertiary care.
Hospitals have different capacities depending on their sizes such as small hospitals (up to 100 beds), medium hospitals (101-300 beds), and large hospitals (more than 300 beds).
Hospitals provide in-patient and outpatient services.
Key players involved in the market are 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, Netcare Limited, Aster DM Healthcare Limited, Quest Diagnostics Incorporated, Universal Health Services, Inc., and Genesis Healthcare.
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