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Acute Hospital Care Market Worth $4.0 Trillion by 2026 | CAGR: 6.7%: Grand View Research, Inc.
SAN FRANCISCO, Sept. 4, 2019 /PRNewswire/ -- The global acute hospital care market is expected to reach USD 4.0 trillion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.7% over the forecast period. Market growth can be attributed to a significant increase in number of patients suffering from chronic diseases such as cancer, diabetes, heart disease, and stroke. Increase in incidence of trauma, demand for acute hospitals; patient volume, including, geriatric demographic; and unmet medical needs is expected to boost growth. In addition, technological advancements for improving quality of treatment to reduce Length of Stay (LOS) and achieve a faster Turnaround Time (TOT) are expected to aid growth.
Key suggestions from the report:
- Based on medical conditions, emergency care dominated the market in 2018, due to increase in number of patients at hospitals seeking admission for shorter durations. This includes cases of trauma, injury, respiratory disorders, or cardiac problems such as acute myocardial infarction.
- Furthermore, availability of higher reimbursement for treatment, when compared with other facilities, supports segment growth
- Based on facilities, general acute care facilities held the largest share in 2018, due to majority of admission cases requiring short-term emergency medical attention.
- Patients suffering from acute illnesses, diseases, or injuries are first admitted to these facilities
- Psychiatric hospitals offering acute psychiatric treatment to patients are expected to grow at the fastest rate over the forecast period. This can be attributed to the increase in prevalence of stroke due to risk factors such as increase in smoking & alcohol consumption and poor lifestyle choices
- ICUs dominated the service segment in 2018, owing to increase in number of patients seeking intensive monitoring and round-the-clock nursing.
- Hospitals are investing in specialized ICUs for specific issues pertaining to cardiology and surgical & medical needs. NICU is expected to be one of the fastest growing segments over the forecast period
- The acute hospital care market has recently experienced expansion of facilities through mergers & acquisitions by key players, which, combined various services, increased overall market revenue
- Some key players are Tenet Healthcare Corporation; Fresenius Medical Care; Ramsay Healthcare; Asklepios Kliniken GmbH; Universal Health Services, Inc.; HCA Healthcare, Inc.; Community Health Systems, Inc.; Ascension Health; IHH Healthcare; Mediclinic International; Legacy Lifepoint Health, Inc.; and Ardent Health Services.
Read 142 page research report with TOC on "Acute Hospital Care Market Size, Share & Trends Analysis Report By Medical Condition (Emergency Care), By Facility Type (General Acute Care Hospitals), By Service (ICU), By Region, Competitive Insights, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/acute-hospital-care-market
Rise in demand for such hospitals is likely to create opportunities for players. Large hospitals are further addressing the increase in demand by building more facilities. These include HCA Healthcare, Inc.; Tenet Healthcare Corporation; & Community Health Systems, Inc. in the U.S. and Fresenius Medical Care & Ramsay Healthcare in Europe.
Grand View Research has segmented the global acute hospital care market based on medical condition, facility type and region:
- Acute Hospital Care Medical Condition Outlook (Revenue, USD Billion, 2015 - 2026)
- Emergency Care
- Short-term Stabilization
- Trauma Care
- Acute Care Surgery
- Acute Hospital Care Facility Type Outlook (Revenue, USD Billion, 2015 - 2026)
- General Acute Care Hospitals
- Psychiatric Hospitals
- Specialized Hospitals
- Rehabilitation Hospitals
- Long-term Acute Care (LTAC)
- Acute Hospital Care Region Outlook (Revenue, USD Billion, 2015 - 2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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