The global acute hospital care market size is expected to worth around US$ 4.58 Trillion by 2027 and expanding growth at a CAGR 6.5% over the forecast period 2021 to 2027.
The global acute hospital care market size is expected to worth around US$ 4.58 Trillion by 2027 and expanding growth at a CAGR 6.5% over the forecast period 2021 to 2027.
The rapidly surging volume of patients and hospital admissions owing to the growing prevalence of various chronic diseases and growing geriatric population across the globe is resulting in the growth of the global acute hospital care market. The global population is witnessing rising burden various non-communicable diseases such as diabetes, cancer, cardiovascular diseases, orthopedic disorders, and respiratory diseases owing to various factors, which is fueling the number of hospital admissions.
Furthermore, according to the World Health Organization, the geriatric population is projected to reach around 2 billion by 2050. The old age people are more prone to various diseases and may often require medical facilities and hospital admission. Furthermore, the increased need for reducing length of stay and improving turnaround time in hospitals, the demand for the various digital technologies across the healthcare sector has increased significantly. The rising adoption of the digital technologies in the hospitals and the growing investments in the development of smart hospitals is expected to drive the growth of the global acute hospital care market in the forthcoming years.
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Report Highlights:
- Based on the medical condition, the emergency care was the dominant segment in 2019. The rising burden of injuries and trauma, rising prevalence of chronic diseases, and frequent occurrence of road traffic accidents are the major factors that has driven the growth of the emergency care segment. Furthermore the availability of favorable reimbursement policies that covers the emergency care costs has exponential contributions in the market growth.
- On the basis of facility type, the general acute care segment dominated the global acute hospital care market in 2019. Most of the hospital admissions are short term acute care. The increased hospital admissions of the patients suffering from acute injuries, diseases, and illnesses has fueled the growth of this segment.
- Based on the service, the intensive care unit (ICU) segment held the largest revenue share in 2020. This growth is attributed to the increased number of ICU admissions in the hospitals. Over 50% of hospital admissions are estimated to be the ICU admissions, which has led to the dominance of this segment in the global acute hospital care market.
- North America was the leading acute hospital care market in 2019. There is a high prevalence of numerous chronic diseases among the population of North America. Furthermore, the presence of huge number of hospitals and the availability of acute care facilities in majority of the hospitals has fostered the growth of the North America acute hospital care market. As per the data provided by the American Hospital Association, there are approximately over 6,200 hospitals in US and about 90% of them has acute care facilities. The increased adoption of the digital technologies in the hospitals and the favorable Medicare and Medicaid policies has fostered the growth of the market significantly in the past years.
- Asia Pacific is expected to be the most profitable market during the forecast period. Asia Pacific is witnessing an increased government and corporate investments in the development of sophisticated healthcare infrastructure. The rising number of road traffic accidents and growing geriatric population in the region are among the major factors that has driven the growth of Asia Pacific acute hospital care market. According to the World Health Organization, around 93% of the road traffic accidents occur in low and middle income countries.
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Future of Acute Hospital Care Market
The hospitals are witnessing increased investments towards the adoption of the latest technologies like telehealth, smart equipment, and digital diagnostic devices. The rising investments in the development of smart hospitals for reducing the healthcare costs and offer quick care services is expected to foster the growth of the acute hospital care market in the upcoming future.
COVID-19 Impact Analysis
- The rapid spread of the COVID-19 infection among the population created a huge burden in the hospitals owing to the increased number of hospital (ICU) admissions across the globe.
- The increased demand for the acute care services has positively impacted the market growth.
- The huge demand created a significant gap between demand and supply, as a result many patients suffered owing to the lack of adequate resources in hospitals.
Key Developments in the Marketplace:
- In February 2019, HCA Healthcare completed the acquisition of Mission Health. This acquisition aimed at developing a hospital with 120 beds to serve the behavioral health inpatients.
Market Segmentation
By Facility Type
- Psychiatric Hospitals
- General Acute Care Hospitals
- Rehabilitation Hospitals
- Specialized Hospitals
- Long-term Acute Care
By Medical Condition
- Short-term Stabilization
- Emergency Care
- Acute Care Surgery
- Trauma Care
- Others
By Service
- Intensive Care Unit (ICU)
- Coronary Care Unit (CCU)
- Neonatal Intensive Care Unit (NICU)
- Others
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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