Global 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
Global Hospital Market stood at USD4207.46 billion in 2020 and is expected to grow at a CAGR of 6.70% during the forecast period. This can be attributed to the growing geriatric population suffering from various chronic diseases including cancer, diabetes, cardiovascular diseases, renal disorders, among others. This in turn has increased the patient pool requiring treatment. Additionally, increasing healthcare expenditures by different governments across the globe coupled with the penetration of large hospital chains is expected to foster the market growth over the next few years. Furthermore, increasing awareness and advancements pertaining to diagnostic technologies are expected to create lucrative opportunities for the market growth through 2026.
Global hospital market has been segmented based on ownership, type, type of services, bed capacity, region, and company. Based on ownership, global hospital market is categorized into public and private. The private hospitals segment is expected to witness significant growth during the forecast period owing to the growing privatization across the hospital industry especially in the United States and United Kingdom. Also, private hospitals offer better patient care facilities and personalized treatment thereby driving the segmental growth.
The outpatient services segment is expected to witness a growth of 7.55% during the forecast period. Outpatient services include medical procedures, tests, services, among others which can be provided to the patient and does not involve an overnight hospital stay. Additionally, shorter patient stay, and high costs incurred with inpatient services are further expected to fuel the growth of outpatient services segment. Besides, growing adoption of minimally invasive surgical procedures and advancements in surgical equipment and devices are further supporting the growth of outpatient services segment.
Based on regional distribution, North America held the largest market share in 2020. This can be attributed to the large patient pool suffering from chronic diseases. Additionally, growing burden of different cancers and cardiovascular diseases in the region further supports the market growth. The region has well-developed healthcare infrastructure and the investments in the healthcare and medical sectors are also high. Additionally, rapid technological advancements and inclination of people towards newer technologies coupled with demand for effective treatment procedures, accounts for the largest share of North America.
The spread of COVID-19 has significantly increased the demand for developing hospital networks in different countries around the globe. The pandemic has illustrated that there is a dire need of building new hospital facilities with COVID-19 care services, especially in countries which are badly hit by the pandemic. Also, an increase in demand for hospital beds is observed. Hence, the new hospitals that are being developed should have the availability of a large number of hospital beds.
The leading players of the global hospital market are Ramsay Health Care Limited, Community Health Systems, Inc., Spire Healthcare Group plc, Tenet Healthcare Corporation, Universal Health Services, Inc., IHH Healthcare Berhad, Apollo Hospitals Enterprise Limited, Fresenius SE & Co., KGaA, and Netcare Limited. The inter-company competition keeps on increasing in accordance with the market which in turn leads to innovations in technology, thereby increasing the customer satisfaction on a global level.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
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