United States
Hospital Market is anticipated to witness a growth of
steady CAGR in the forecast period, 2024-2028. United States has a sizable geriatric population that
needs specialized medical treatment which is placing a burden on the healthcare
system due to the rise in average life expectancy. The Centres for Disease
Control and Prevention estimates that the average American's life expectancy at
birth was 77.0 years in 2020. Life expectancy for men was 74.2 and the life
expectancy for women was 79.9 in 2020.
The
growing prevalence of various chronic diseases such as cancer, diabetes,
cardiovascular disorders, respiratory problems, renal disorders, among others
in the country requiring effective treatment and diagnosis is expected to drive
the growth of United States Hospital Market during the forecast period. The National
Center for Chronic Disease Prevention and Health Promotion (NCCDPHP) body of
CDC collects data on chronic diseases across United States. According to
Centres for Disease and Control and Prevention, chronic disease has been
reported as the leading driver of the United States’ USD4.1 trillion in annual
healthcare cost. 6 out of 10 people of the country is suffering from chronic
disease and 4 among 10 people have more than two types of chronic diseases. The
top three reasons of death among the population of United States includes,
heart disease and stroke, cancer, and diabetes. The heart disease related death
tolls for one third of the total death among the population which cost the
health care system USD216 billion per year. The increasing disease burden has
led to an increase in the number of walk-in patients which seeks for better
care facilities.
Besides,
increasing healthcare expenditure coupled with growing awareness related to
early disease diagnosis and treatment is further expected to create lucrative
opportunities for the market growth. Furthermore, improving healthcare
infrastructure in the country is further supporting the market growth.
Download Free Sample Report
Increasing
Number of Surgeries
The
country's healthcare spending is increasing quickly as the number of patients
rises, which will benefit country’s hospital market growth overall. The number
of surgeries done in the United States has significantly increased over time. A
NCBI study estimates that around 40-50 million surgical procedures are carried
out every year in the nation. According to data released by the Centers for
Disease Control and Prevention, U.S. health care spending climbed 9.7% reached
$4.1 trillion in 2020.
Additionally,
nearly 40 million inpatient surgical procedures, followed closely by 31.5
million outpatient surgeries, were carried out in the United States, according
to the National Center for Health Statistics. The digestive,
musculoskeletal, cardiovascular, and ophthalmological were among the most
underwent procedures in the United States. Due to the availability of expert
medical staff along with presence of advanced equipment & facilities for
the diagnosis and treatment of different diseases in the hospital settings is
expected to increase the demand for hospital services, thereby driving the
market growth in the country.
Rising
Cases of Accidents
In the
first three months of 2022, 9,560 persons lost their lives in motor vehicle
traffic accidents, according to the National Highway Traffic
Safety Administration (NHTSA) in the United States. When compared to the 8,935
fatalities anticipated for the same period in 2021, this is an increase of
nearly 7%. Since 2002, there have been fewer first-quarter fatalities than
this. NHTSA reported that the mortality rate took a toll from the predicted
rate of 1.25 fatalities per 100 million vehicle miles in the first quarter of
2021 to 1.27 fatalities per 100 million vehicle miles in the first quarter of
2022.
According
to the CDC, in 2018, there were around 130 million visits to emergency rooms,
of which 35 million were attributable to injuries. The
need for instant response and the availability of treatment at nearby hospitals
is crucial during these circumstances, thus increasing the demand for hospitals to initiate quick response to help
the people with increasing their survival rate during critical conditions.
Increasing
number of Cancer Cases
According
to the Global Cancer Observatory, total number of new cancer cases reported in
2020 were around 2,281,658. Among the different types of cancer,
breast and lungs cancer are two of the prominent cancers which are prevalent
among the population. This has in turn increased the demand for hospitals where
effective diagnosis and treatment can be availed. Hospitals with advance
diagnostic technologies have paved their way for easy and early detection of
cancer and easy access to treatment so that people with financial problems can
also get access to this long-term disease which usually charge hefty amount for
treatment.
Integration
of AI in the Hospitals
The
advent of AI and machine learning has revolutionized the hospital industry in
the United States. In order to make up for the lack of medical staff in
hospitals, it helps doctors make more precise diagnoses, nurses admit patients
more promptly, and pharmacists develop medications more effectively and safely.
AI for record keeping in hospitals enhances the management of electronic health
records (EHRs). EHRs enable for the management of patient health information in
a digital format and the sharing of that data with other healthcare
professionals across various organisations, increasing physician productivity
and patient satisfaction. As they continue to enter the digital health
business, major tech companies like Google and Apple are largely responsible
for this expansion.
Moreover,
the hospital command centre at Johns Hopkins Hospital, which started operating
in 2016, leverages predictive analytics to enable a more effective operational
flow in the hospital. The hospital collaborated with GE Healthcare to build
the Judy Reitz Capacity Command Center, which integrates data from "14
separate Johns Hopkins IT systems" across 22 high-resolution,
touch-enabled computer monitors and can receive "500 messages per
minute." The system also identifies and reduces risk, "prioritise
activity for the benefit of all patients, and activate interventions to speed
patient flow.
Johns
Hopkins reported an improvement of 60% increase in its capacity to admit
patients "with complex medical issues" from the local area and the
entire country since the command centre’s establishment. The hospital is now
able to report faster ambulance dispatches, faster bed assignments in the
emergency department increased by 30%, and 21% increment in the patient
discharge before noon are some of the major improvements seen in the John
Hopkins hospital.
Market
Segmentation
United States Hospital Market is segmented into
Ownership, Type, Type of Services, Bed Capacity, and Region. Based on
Ownership, the market can be segmented into Public and Private. Based on Type,
the market is split into General, Specialty, Multi- Specialty. Based on the
Type of Services, the market is further divided between In-Patient Services and
Out-Patient Services. Based on the Bed Capacity, the market is trifurcated into
Up to 100 beds, 100-500 beds, and Above 500 beds.
Market Players
HCA Healthcare,
Inc., Ascension Health, Tenet Healthcare Corporation, Community Health Systems
Inc., Catholic Health Initiatives, Hospital Corporation of America, LifePoint
Health, are some of the leading players operating in the Brazil Diagnostic Labs
Market.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historical Years
|
2018 – 2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024 – 2028
|
|
Quantitative Units
|
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
|
|
Report Coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments Covered
|
Ownership
Type
Type of Service
Bed Capacity
|
|
Region Scope
|
South-West Region, Mid-West Region & Northeast-Region
|
|
Key Companies Profiled
|
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.
|
|
Customization Scope
|
10% free report customization with purchase. Addition or
alteration to regional & segment scope.
|
|
Pricing and Purchase Options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase
options
|
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, United States hospital market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- United States Hospital Market, By Ownership:
- United States Hospital Market, By Type:
o General
o Specialty
o Multi- Specialty
- United States Hospital Market, By Type
of Services:
o In-Patient Services
o Out-Patient Services
- United States Hospital Market, By Bed
Capacity:
- Up to 100 beds
- 100-500 beds
- Above 500 beds
- United States Hospital Market, By
Region:
- South-West
- Mid-West
- North-East
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in United States hospital market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
United States Hospital Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]