Rising Prevalence of Cardiovascular Diseases Propelling Acute Care Market Growth: Fact MR Study
Fact MR: The global acute care market is expected to grow at high CAGR in the assessment period, from 2021 to 2031 due to rising demand for treatment of cardio vascular diseases. As per Fact.MR, the acute care market revenues will nearly double in forecast period of 2021-2031.
According to Centers for Disease Control (CDC), 18.2 million people aged 20 years and more were diagnosed with coronary artery disease which account almost 6.7% of U.S. population. This shows that a large number of people in the U.S. require acute care. This also has resulted in rising demand for acute care treatment in the country.
According to Rural Health Information Hub, there are 46 million geriatric population living in the U.S. aged 65 and more and this demographic is highly vulnerable to diseases that need acute care. Rising geriatric population will therefore remain a chief growth driver.
The COVID-19 pandemic has had a significant impact on the global acute care market. Countries with a high geriatric population, such as Italy, exhibited high demand for acute care. Cases of cardiovascular diseases are increasing in the U.K. as well.
As a consequence of the sudden outbreak, many European countries shifted focus on catering to COVID-19 induced medical emergency. While priority shifted for a while, rising health expenditure and infrastructure expansion will fuel demand in the acute care market in the coming years.
"The prevalence of cardiovascular diseases is increasing due to rapidly changing lifestyle. Adopting a sedentary lifestyle including unhealthy eating habits and lack of exercise are factors contributing to rise in prevalence of cardiovascular diseases. Rising cases of cardiovascular diseases will result in high demand for acute care in the coming years, "said a Fact MR analyst.
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- The U.S. is dominating the acute care market due to high awareness of healthcare facilities and favorable reimbursement scenarios in the country.
- The U.K. will emerge as a highly lucrative market acute care market due to increasing health expenditure.
- Asia Pacific is estimated to project significant growth on the back of presence of a large geriatric population.
- India is expected to acquire exhibit increasing demand due to the high prevalence of vascular diseases in the country.
- Government support for better healthcare facilities and the demand for technologically advanced healthcare solutions will boost acute care market.
- Rise in healthcare expenditure in developed countries, as well as developing countries will accelerate demand for acute care to a great extent.
- Increasing trauma cases requiring immediate acute care is a major factor contributing to rise in demand.
- Lack of skilled professionals for advance care is negatively affecting the growth of the market.
- Prime care is not positioned in acute care hampering market growth.
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Key players in the market are focusing on acquisitions and mergers. For instance:
- HCA Holdings, Inc. announced the acquisition of Valify in January 2020. The acquisition was to use Valify’s services to provide healthcare systems with in depth analysis and detailed insights.
Some of the leading service providers of acute care include HCA Healthcare, Tenet Healthcare Corporation, Ramsay Healthcare, Legacy LifePoint Health Inc., Community Health Systems Inc., Universal Health Services Inc., IHH Healthcare, Fresenius Medical Care, and Zander scientific Inc.
More Insights into the Acute Care Market
Fact.MR offers unbiased analysis of the acute care market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product service type (emergency care, short term stabilization-hospital care, critical care, trauma care, urgent care, and acute care surgery), on the basis of region (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa)
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