Hospital Services Market Size, Share, Growth Analysis, By Hospital Type(State-owned Hospital, Private Hospital, Public Hospital), By Service Type(Outpatient Services. Inpatient Service), By Service Areas(Acute Care, Cardiovascular, Cancer Care, Neurorehabilitation & Psychiatry Services), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35D2011 | Region: Global | Published Date: July, 2001
Pages: 165 |Tables: 90 |Figures: 74

Hospital Services Market Insights

Global Hospital Services Market size was valued at USD 10.44 trillion in 2019 and is poised to grow from USD 11.1 trillion in 2023 to USD 19.61trillion by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).

The global hospital services market is primarily driven by the rise in chronic illness prevalence, ageing populations, rising disposable income, particularly in developing nations, and the increased penetration of health insurance services. The main forces driving this industry are the sales earnings earned by numerous cutting-edge medical institutions. Over the projection period, the availability of next-generation stents, rising knee replacement surgery rates around the world, and rising cancer incidence are expected to have a significant impact on the hospital services market. The market expansion will be afterwards constrained by the high cost of surgical treatments as well as the absence of insurance coverage.

In recent years, the cost of medical facilities has increased. Advanced diagnostic technologies have paved the road for earlier and better disease detection as well as funded research into treatments for terminal diseases like cancer. The demand for medical services is predicted to expand due to rising affordability and public knowledge, which is currently happening in many nations where it is contributing considerably to GDP growth (GDP). As knowledge and cost-effectiveness rise, the demand for medical services is anticipated to rise. This is currently the case in many developed nations, where healthcare services have a large positive impact on the expansion of the hospital services market.

US Hospital Services Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 10.44 trillion

Largest Segment

Private Hospital

Fastest Growth

Private Hospital

Growth Rate

8.7% CAGR

Global Hospital Services Market ($ Tn)
Country Share for North America Region (%)

To get more reports on the above market click here to Buy The Report

Hospital Services Market Segmental Analysis

The global hospital services market is segmented based on hospital type, service type, services areas and region. Based on hospital type the Hospital Services Market is segmented into state-owned hospital, private hospital, and public hospital. Based on service areas the Hospital Services Market 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 the Hospital Services Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Hospital Services Market Analysis by Service Type

The market is divided into inpatient and outpatient services based on the type of service provided. Hospitals generally view inpatient treatment, particularly hospitalisation procedures that call for a patient stay, as their main source of income. The patient stay length has, however, fallen dramatically in recent years due to better wound healing equipment quality and quicker recovery from procedures, which has led to the continuing reduction of the inpatient sector. Additionally, lengthier hospital stays increase the expense to hospitals since they limit their ability to take on new patients.

The expansion of telemedicine and remote consultation procedures, on the other hand, opened the door for the outpatient market, which is anticipated to expand in the future as a result of advancements in communication technology. Outpatient services are now a more attractive market for hospital service providers due to shorter patient stays and greater medical costs for inpatients.

Hospital Services Market Analysis by Hospital Type

According to the ownership type of the hospitals, the market has been divided into private, state-owned, and community/public hospitals. The privatisation of the hospital sector in the United States and the United Kingdom had an impact on the hospital market structure. The network of private hospitals includes a large number of retail clinics. The expansion of the hospital services sector is anticipated, with private and community hospitals playing a significant role. Globally, community/public hospitals continue to dominate. The majority of patient beds are found in community hospitals, which also provide care for a wide range of service areas and medical disorders thanks to their specialised departments. They are typically supported by businesses, crowdfunded communities, and local charitable groups. However, according to a study of the hospital sector, private hospitals are increasingly being seen to increase their specialisation capabilities and cater to patients who need urgent medical attention, such as cancer and cardiovascular treatment. In contrast, state-owned hospitals prioritise treating patients who require immediate attention, such as infection control and accident/trauma treatments. Therefore, especially in industrialised regions of the world, it is anticipated that these hospitals would have a falling market share in the future.

Global Hospital Services Market By Hospital Type

To get detailed analysis on other segments, Request For Free Sample Report

Hospital Services Market Regional Insights

In 2021, North America dominated the global market and accounted for over 49.0 percent of total sales. During the forecast period, the rising cost of healthcare services and the rising prevalence of cancer in North America are anticipated to drive market expansion. The region's market is anticipated to develop as a result of the rising prevalence of cancer and rising costs of healthcare in the area. In addition, the region's established medical facilities and healthcare infrastructure are expected to help it continue its leadership during the predicted period. Due to significant potential government investments for enhancing their healthcare infrastructure, emerging nations in the Middle East, Africa, Latin America, and Asia Pacific are anticipated to drive the regional market growth over the forecast period.

Global Hospital Services Market By Region
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Hospital Services Market Dynamics

Hospital Services Market Driver

  • Over the projection period, the availability of next-generation stents, rising knee replacement surgery rates around the world, and rising cancer incidence are expected to have a significant impact on the hospital services market.
  • Advanced diagnostic technologies have paved the road for earlier and better disease detection as well as funded research into treatments for terminal diseases like cancer. The market for medical services is anticipated to grow as a result of rising accessibility and public awareness.

Hospital Services Market Restraint 

  • In recent years, the cost of medical facilities has increased. As a result, the market expansion will be constrained by the high cost of surgical operations as well as a lack of insurance coverage.
  • Many federal and state governments provide their citizens with either subsidised or free healthcare services. Since most governments offer high-quality healthcare services for free or at reduced costs, patients frequently choose these options, which reduces the market for private healthcare service providers.

Request Free Customization of this report to help us to meet your business objectives.

Hospital Services Market Competitive Landscape

The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our hospital services market reports, some of the leading quality Hospital Services manufacturers are as follows: 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)

Top Players in the Global Hospital Services Market 

  • HCA Healthcare National Health Service (NHS)
  • Ascension Health
  • Tenet Healthcare Corporation
  • Community Health Systems
  • Universal Health Services
  • Kaiser Permanente Catholic Health Initiatives
  • Mayo Clinic
  • Johns Hopkins Medicine
  • Cleveland Clinic
  • University of Texas MD Anderson Cancer Center
  • NYU Langone Health
  • Cedars-Sinai Health System
  • Providence Health & Services
  • AdventHealth
  • Banner Health
  • Massachusetts General Hospital
  • Stanford Health Care
  • Northwestern Memorial Healthcare

Hospital Services Market Recent Developments

  • In July 2022, according to U.S. News & World Report's rankings of the nation's best hospitals for 2022–203, Cleveland Clinic is still the top heart hospital in the country.
  • In July 2022, the American College of Surgeons Committee on Trauma has re-verified the University of Alabama at Birmingham Hospital as a Level I Trauma Center. The only Level I adult trauma centre in Alabama with ACS verification is UAB Hospital.
  • In July 2022, Akron Children's Hospital (Akron Children's), a premier paediatric health system in northeast Ohio with two hospitals and 54 urgent, primary, and specialty care locations, has entered into a broad, multi-year strategic partnership with Health Catalyst, Inc. ("Health Catalyst,"Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organisations.

Hospital Services Key Market Trends

  • Many affluent countries have created health insurance programmes in response to the rising expense of healthcare facilities. The most significant and fundamental part of the healthcare industry in North America is healthcare insurance. The public's and consumers' growing reliance on it is anticipated to increase demand in the ensuing years.

Hospital Services Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, by hospital type, the largest portion of hospitals worldwide is still community/public hospitals. Community hospitals are found to have the most patient beds and, through their specialised departments, to care for a variety of service areas/medical issues. Region-wise, the North America dominated the global market by more than 49%, followed by Asia Pacific.

Report Metric Details
Market size value in 2023 USD 10.44 trillion
Market size value in 2031 USD 19.61trillion
Growth Rate 8.7%
Forecast period 2024-2031
Forecast Unit (Value) USD
Segments covered
  • Hospital Type
    • State-owned Hospital, Private Hospital, Public Hospital
  • Service Type
    • Outpatient Services. Inpatient Service
  • Service Areas
    • Acute Care, Cardiovascular, Cancer Care, Neurorehabilitation & Psychiatry Services, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • HCA Healthcare National Health Service (NHS)
  • Ascension Health
  • Tenet Healthcare Corporation
  • Community Health Systems
  • Universal Health Services
  • Kaiser Permanente Catholic Health Initiatives
  • Mayo Clinic
  • Johns Hopkins Medicine
  • Cleveland Clinic
  • University of Texas MD Anderson Cancer Center
  • NYU Langone Health
  • Cedars-Sinai Health System
  • Providence Health & Services
  • AdventHealth
  • Banner Health
  • Massachusetts General Hospital
  • Stanford Health Care
  • Northwestern Memorial Healthcare
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Hospital Services Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Hospital Services Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Hospital Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hospital Services Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hospital Services Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Hospital Services Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW

REQUEST FOR SAMPLE

Want to customize this report?
REQUEST FREE CUSTOMIZATION

FAQs

Hospital Services Market size was valued at USD 10.44 trillion in 2019 and is poised to grow from USD 11.1 trillion in 2023 to USD 19.61trillion by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).

The existence of several international players defines the market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our hospital services market reports, some of the leading quality Hospital Services manufacturers are as follows: 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) 'HCA Healthcare National Health Service (NHS)', 'Ascension Health ', 'Tenet Healthcare Corporation ', 'Community Health Systems', 'Universal Health Services ', 'Kaiser Permanente Catholic Health Initiatives', 'Mayo Clinic', 'Johns Hopkins Medicine', 'Cleveland Clinic', 'University of Texas MD Anderson Cancer Center', 'NYU Langone Health', 'Cedars-Sinai Health System', 'Providence Health & Services', 'AdventHealth', 'Banner Health', 'Massachusetts General Hospital', 'Stanford Health Care', 'Northwestern Memorial Healthcare'

Over the projection period, the availability of next-generation stents, rising knee replacement surgery rates around the world, and rising cancer incidence are expected to have a significant impact on the hospital services market.

Many affluent countries have created health insurance programmes in response to the rising expense of healthcare facilities. The most significant and fundamental part of the healthcare industry in North America is healthcare insurance. The public's and consumers' growing reliance on it is anticipated to increase demand in the ensuing years.

In 2021, North America dominated the market and accounted for over 49.0 percent of total sales. During the forecast period, the rising cost of healthcare services and the rising prevalence of cancer in North America are anticipated to drive market expansion. The region's market is anticipated to develop as a result of the rising prevalence of cancer and rising costs of healthcare in the area. In addition, the region's established medical facilities and healthcare infrastructure are expected to help it continue its leadership during the predicted period. Due to significant potential government investments for enhancing their healthcare infrastructure, emerging nations in the Middle East, Africa, Latin America, and Asia Pacific are anticipated to drive the regional market growth over the forecast period.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Hospital Services Market

Report ID: SQMIG35D2011

sales@skyquestt.com
USA +1 351-333-4748

BUY NOW GET FREE SAMPLE