General Medical And Surgical Hospitals Market Growth and Trends: Key Insights into Market Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Are the Primary Drivers Supporting the Market Growth of theGeneral Medical And Surgical Hospitals Market?
The growth of the general medical and surgical hospitals market is predicted to be driven by the growing occurrence of chronic diseases. These slowly progressing illness usually last for 3 months or more. Many healthcare organizations are implementing programs for managing chronic diseases to reduce unnecessary hospitalizations and mitigate adverse events. Consequently, general medical and surgical hospitals can lower healthcare costs and enhance patient outcomes through these programs. For example, in June 2022, as per information released by Macmillan Cancer Support, a cancer charity in the UK, the number of cancer patients touched 3 million in 2022 and is expected to surge to nearly 3.5 million by 2025 and 4 million by 2030. Thus, the increasing incidence of chronic conditions is bolstering the growth of the general medical and surgical hospital market.
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#What is the Anticipated CAGR of theGeneral Medical And Surgical Hospitals Market, and What Factors Will Drive It?
The consistent expansion of the general medical and surgical hospitals market in the past few years is noteworthy. It is projected that this market will increase from $3960.8 billion in 2024 to $4131.42 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.3%. Factors influencing this growth during the historical period include demographic shifts and an aging population, progression in medical understanding and therapies, broadened health insurance coverage, governmental healthcare laws and finance, as well as preventive care and public health campaigns.
The market size for general medical and surgical hospitals is anticipated to witness consistent expansion in the coming years, growing to a value of $4813.66 billion by 2029, with a compound annual growth rate (CAGR) of 3.9%. Factors contributing to this growth during the forecast period include a transition towards value-focused care models, incorporation of telehealth and remote patient monitoring, a concentration on managing population health, amalgamation and alliance with specialized services, and transformation in healthcare payment and reimbursement models. The upcoming period is expected to be informed by trends like strategies for managing population health, a shift towards ambulatory and outpatient services, Integration and partnerships with community health, an emphasis on value-based healthcare and payment models, and an influx of investments into healthcare technology infrastructure.
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What Are the Latest Innovations Influencing theGeneral Medical And Surgical Hospitals Market?
The rise of technological progress is a predominant trend observed in the general medical and surgical hospitals industry. Major firms in this field are propelling innovative technology-based goods to augment operational competence and improve patient care in radiology, utilizing AI-driven workflows and remote access potentialities in the marketplace. For example, Koninklijke Philips NV, a technology company based in the Netherlands, unveiled Philips HealthSuite Imaging in November 2023. This software, specifically designed for radiologists and clinicians, enhances patient care by amplifying operational efficiency with its cloud-based PACS. By leveraging Amazon Web Services (AWS), HealthSuite Imaging presents features like high-speed remote access for diagnostic interpretation, consolidated reporting, and AI-powered workflow management, which are all offered securely through the cloud to alleviate the strain on IT management.
Who Are the Major Industry Players Accelerating Growth in theGeneral Medical And Surgical Hospitals Market?
Major companies operating in the general medical and surgical hospitals market include Mayo Clinic Health System, HCA Healthcare Inc., Cleveland Clinic, Spire Healthcare Group PLC, Ramsay Health Care Ltd., Ascension, Community Health Systems Inc., Tenet Healthcare Corporation, Fortis Healthcare Ltd., Apollo Hospitals Enterprise Ltd., The Johns Hopkins Health System Corporation, Fresenius Medical Care AG & Co. KGaA, China Resource Phoenix Healthcare Holdings Company Limited, IHH Healthcare Berhad, The University of California San Francisco Medical Center, Massachusetts General Hospital, Cedars-Sinai Medical Center, NewYork-Presbyterian Hospital, UCLA Medical Center, Brigham and Women’s Hospital, Stanford Health Care, Hospital of the University of Pennsylvania, Houston Methodist Hospital, Barnes-Jewish Hospital, Mount Sinai Hospital, Cincinnati Children’s Hospital Medical Center, Emory University Hospital, Northwestern Memorial Hospital, NYU Langone Hospitals, UPMC Presbyterian Shadyside, Vanderbilt University Medical Center, University of Michigan Hospitals-Michigan Medicine, Wake Forest Baptist Medical Center, Indiana University Health Medical Center, Oregon Health & Science University Hospital, University of Chicago Medical Center, Duke University Hospital, Thomas Jefferson University Hospitals, Yale New Haven Hospital, UC San Diego Health
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Which Primary Segments of the General Medical And Surgical Hospitals Market Are Driving Growth and Industry Transformations?
The general medical and surgical hospitals market covered in this report is segmented –
1) By Service Type: Inpatient Service, Outpatient Services
2) By Hospital Type: Private Hospital, State-Owned Hospital, Public And Community Hospital
3) By Service Areas: Acute Care, Cardiovascular, Cancer Care, Neurorehabilitation And Psychiatry Services, Pathology Lab, Diagnostics, And Imaging, Obstetrics And Gynecology, Other Services
Subsegments:
1) By Inpatient Service: Emergency Services, Surgical Services, Maternity Services, Intensive Care Services, Rehabilitation Services
2) By Outpatient Services: Diagnostic Services, Surgical Procedures, Preventive Care, Rehabilitation Services, Telemedicine Services
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