The global acute hospital care market size was valued at USD 2.77 Trillion in 2019 and expected to reach USD 4.58 Trillion by 2027 and poised to grow at a compound annual growth rate (CAGR) 6.5% during the forecast period 2020 to 2027.
Rising prevalence of chronic diseases, increasing inpatient volume, and favorable reimbursement policies available for the services through Medicaid and Medicare are the key factors that drive the overall market growth. Increasing incidence of trauma, increasing geriatric patient volume, increasing demand for acute care hospitals, and unmet medical needs in developing countries projected to boost the market growth. An increase in the inpatient volumes because of prevalence of chronic diseases across the globe is stimulating hospitals to work actively towards reducing the Turnaround Time (TOT) and Length of Stay (LOS).
As emergency rooms at hospitals have become increasingly crowded with an average of 55 minutes wait time because of this more patients are showing interest in high-deductible health plans, requirement for acute hospitals has increased specifically for patients with severe medical conditions.
The American Academy of Orthopedic Surgeon reported that bone fracture is a common injury and nearly 6 million people suffer from it every year in the United States.Out of these, only 300,000 patients receive acute hospital care. Acute hospital care aims to help patients attain stable &healthy medical condition as well as discharging the patient in minimum possible time. As per World Health Organization (WHO), nearly 80% of total deaths because of cardiovascular diseases occur in emerging countries. The aforementioned factors anticipated o propel the overall market growth for acute hospital care in the coming years.
Medical Condition Insights
Emergency care segment exhibits its dominance in terms of revenue for the year 2019 and expected to have considerable growth during the forthcoming years. Rising prevalence of communicable diseases, increasing cases of burn & trauma injuries, and increase in the number of patients suffering from cardiovascular disease are the key factors that contribute prominently towards the growth of the segment.
Moreover, wide range of services offered in the emergency treatment to the patient’s suffering from life threatening condition expected to foster the market growth. Life-threatening conditions include Cerebrovascular Accident (CVA) or stroke, acute myocardial infarction or heart attack, severe bleeding, extreme difficulty in breathing, burns & lacerations, poisoning, acute abdominal pain, severe allergic reactions, broken bones, and trauma cases such as Traumatic Brain Injury (TBI).
However, short-term stabilization expected to forecast the highest growth in the coming years. This is mainly because of numerous market players focusing on reducing the time of hospital stays that consequently reduces the cost to patient along with wait time, thereby improving the service offered.
North America dominated the global acute hospital care market due to increasing patient population, well-developed technology, increasing government support for Research & Development (R&D), and high spending on health care expenditure. Furthermore, increased R&D activities along with the concentration of major market players have fuelled the market growth in this region.
Europe occupied the second position in terms of market value share owing to the government support for R&D and availability of funds for research. The above mentioned factor anticipated to drive the European market over the analysis period. For instance, developed countries such as France and Germany are investing significantly in the healthcare domain and are primarily focusing on the development of hospital infrastructure.
Apart from all above, the Asia Pacific executes the fastest growth rate during the analysis period because of rapid development in healthcare technologies, high healthcare expenditure, and huge patient population. Moreover, rising demand for acute hospital care in countries such as India, China, and South Korea are likely to boost the overall market growth. Increased demand for quality equipment in healthcare industry to early diagnose the problem and cure them propels the need for acute hospital care.
On the other hand, the Middle East & Africa estimated to have prominent growth over the forthcoming years owing to limited medical facilities coupled with deprived political conditions in Africa.
Key Companies & Market Share Insights
The global acute hospital care market players are mainly focused on merger & acquisition, partnership, collaboration, joint venture and other inorganic growth strategies that in turn boost the overall market revenue. For instance, in February 2019, HCA Healthcare Inc. acquired Mission Health, with a plan to build hospital with 120 beds for inpatient behavioral health in Asheville. In addition, it also invested USD 232 million for mission health facilities and planned to build new hospital Franklin, N.C. for Angel Medical Center.
Certain of the prominent players in the acute hospital care market are as follows:
Report Scope of the Acute Hospital Care Market
|Market Size||USD 4.58 Trillion by 2027|
|Growth Rate||CAGR of 6.5% from 2021 to 2027|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2027|
|Segments Covered||Vehicle Class, Architecture, Region|
|Companies Mentioned||Universal Health Services, Inc., Tenet Healthcare Corporation, Community Health System, Tenet Healthcare Corporation, Legacy Lifepoint Health, Inc., Hca Healthcare, Inc., Ardent Health Services, Adeptus Health Inc., Ascension Health, and Emerus|
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of facility type, medical condition, service, and region:
By Facility Type
By Medical Condition
By Regional Outlook
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