Dublin, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The "Global Hospital Services Market By hospital type, By service type, By service area & By region-Forecast Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global Hospital Services Market was valued at USD 8.81 trillion in 2021, and it is expected to reach a value of USD 16.27 trillion by 2028, increasing at a CAGR of 7.89% from 2022 to 2028.
The aging population, increased prevalence of chronic diseases, rise in disposable money, particularly in developing nations, and increased use of health insurance are major drivers of hospital services. By 2030, people 60 and older are expected to make up 17% of the world's population, an increase from the current 12%. In addition, the WHO reports that non-communicable diseases were responsible for almost 70% of all fatalities worldwide in 2015. These elements will drive the market's demand.
Segments covered in this report
The global hospital services market is segmented based on hospital type, service type, services areas and region. Based on hospital type it is segmented into state-owned hospital, private hospital, and public hospital.
- Based on service areas it is segmented into: acute care, cardiovascular, cancer care, neurorehabilitation & psychiatry services, others.
- Based on Service type it is bifurcated into outpatient services and inpatient service.
- Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Driver
In the developing nations of Asia, the Pacific, Africa, and Latin America, the medical infrastructure is still in need of development. The ratio of hospital beds per 1,000 people in India is less than 1, which is significantly lower than the averages for both the World Health Organization (WHO) and the Organization for Economic Co-operation and Development (OECD), which are over 5.
The difference between demand and availability for hospital beds in emerging nations has caused the market for private hospitals to rise significantly (both organically and inorganically). The largest private medical services provider in India, Apollo Hospitals Enterprise Ltd., has grown from a 150-bed facility in 1983 to offering over 9,500 beds across 69 hospitals. These factors will fuel the demand for hospital services in the global market.
Restraint
Many federal and state governments offer either subsidized or free healthcare services to their residents. The market for commercial healthcare service providers shrinks as a result of the majority of governments providing high-quality healthcare services for free or at a reduced cost.
Trends
The landscape of the healthcare sector is drastically altering due to the proliferation of technology. The need for better management services from both the patient end and the healthcare institution end is anticipated to increase as the strain on the healthcare infrastructure grows. Hospital service providers place a strong emphasis on offering products and services that satisfy and cater to individuals while also proving to be cost- and healthcare-effective.
The greatest demand is projected for telephonic case management services, and suppliers are expected to make investments in this area throughout the projection period. It is anticipated that demand for field case management services will follow a similar pattern.
| Report Attribute | Details |
| No. of Pages | 127 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $8.81 Trillion |
| Forecasted Market Value (USD) by 2028 | $16.27 Trillion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Companies Mentioned
- HCA Healthcare (US)
- Mayo Clinic (US)
- Cleveland clinic (US)
- Tenet Healthcare (US)
- Spire Healthcare Group plc (UK)
- Community Health Systems, Inc. (US)
- Fortis Healthcare (India)
- Ramsay Healthcare (Australia)
For more information about this report visit https://www.researchandmarkets.com/r/aj9jnc
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