United States Hospital Market to Grow with an Impressive CAGR until 2026
Advancing healthcare infrastructure is
driving the growth of United States Hospital Market, in the forecast period.
According to TechSci report on, “United States Hospital Market By Ownership
(Public v/s Private) By Type (General, Specialty, Multi- Specialty) By Type of
Services (In-Patient Services v/s Out-Patient Services) By Bed Capacity (Up to
100 beds, 100-500 beds, Above 500 beds) By Region, Competition Forecast &
Opportunities, 2026”, United States hospital market has shown promising growth in historical years
until 2019 and is expected to continue its growth in upcoming forecast years
2021 to 2026. United States hospital market owes its growth to the factors like
increasing geriatric population of the country. Geriatric population is the
largest group that generates the demand of the availability of the well-equipped
hospitals and the healthcare services due to their deteriorating health
condition.
Moreover,
the factors like private funding and government funding for the hospitals and
the increased construction is anticipated to further the growth of the United
States hospital market in the upcoming five years. The recent outbreak of the
coronavirus has alarmed the government toward the requirement of the better
health facility along with the advanced medical devices and equipment. These
factors are actively supporting the growth of the United States hospital market
in the next five years.
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The
United States hospital market is segmented on the basis of ownership, type,
type of service, bed capacity, competitional landscapes, and regional
distribution. Based on type, the market is further segmented into general,
specialty, and multi-specialty hospitals. General hospitals are anticipated to
hold the largest shares of the market on the grounds of requirements of the
population. General hospitals are academic, or community-based health care
facility that admits patients without the specific concern but on a general
requirement.
The
patients if require special care they are often sent to specialty hospitals or
multi-specialty hospitals. Any patient with unknown diagnosis, or complicated
symptoms are often admitted in the general hospitals and are later transferred
to the specialty hospital based on their requirement. Multi-specialty hospitals
are anticipated to hold the significant shares of the market
on the account of increasing cases of complicated diseases and the patients
suffering from chronic conditions like cancer, cardiovascular diseases, and
various neuropathic disorders.
Based
on ownership, the market is further divided between private and public
hospitals. Private funding, and privatization process pf the hospitals is
rapidly increasing in the country. Therefore, public hospitals are anticipated
to hold the larger revenue shares of the market. The asserted dominance is
expected to continue for the next five years due to advantages like better
patient care facilities and personalized treatment. Public hospitals are also
expected to hold significant shares of the market due to increased governmental
efforts to strengthen the health care industry for the general population.
Private
hospitals often provide expensive and unaffordable to poor population, health
care facility. Public hospitals are often run with the government funding and
are obligated to provide minimum or no-cost health services to the poor
population of the country. Although unavailability of the expensive and modern
technology medical devices is scarce in the public hospitals, the government is
planning on expanding the scopes for the public hospitals thereby supporting
the growth of the United States hospital market in the upcoming five years.
A
partial list of market player in the United States hospital market includes,
HCA Healthcare, Inc., Ascension Health, Tenet Healthcare Corporation, Community
Health Systems Inc., Catholic Health Initiatives, Hospital Corporation of
America, LifePoint Health, Prime Healthcare Services, Universal Health
Services, Inc., National Surgical Hospitals, Inc., among others. These market
players hold larger shares of the market than the new market players.
With
the advancement of the technology, it is appropriate to say that the effective
research and development of the technologically advanced medical devices would
support the market growth along with the better healthcare services and benefit
the market players as well as the consumers. New market players may focus on
the research and development to provide better services that satisfies the
consumer demand as well as benefits the market players in building their brand
value. Other competitive strategies may include mergers & acquisitions and
new product developments.
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“Due
to recent outbreak of COVID-19 virus, the surge in the demand of better
healthcare was experienced in the country. The United States sustains the
largest and one of the best healthcare industries when compared globally.
Still, the pandemic situation caused an uproar and pushed the population under
a complete lockdown situation. To combat the situation in future, government is
working exceptionally for the fulfillment of the demand of hospitals, clinics,
and other healthcare facilities. New market players may focus over the
provision of smart technologies and availability of the multiple specialty
infrastructure as well as treatment processes for the satisfaction of the
patients. The government support would aid the hospital industry to facilitate
better patient care in the future five years,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“United
States Hospital Market By Ownership (Public v/s Private) By Type (General,
Specialty, Multi- Specialty) By Type of Services (In-Patient Services v/s
Out-Patient Services) By Bed Capacity (Up to 100 beds, 100-500 beds, Above 500
beds) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of United
States Hospital market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in United States Hospital
market.
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