What’s Driving Growth in the General Medical And Surgical Hospitals Market? Insights into Key Trends and Opportunities
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What is the Forecasted Expansion Rate of the General Medical And Surgical Hospitals Market Over the 2025–2034 Period?
The market size for general medical and surgical hospitals has shown a consistent growth trend in past years. The industry is projected to increase from a value of $3960.8 billion in 2024 to about $4131.42 billion in 2025, signifying a compound annual growth rate (CAGR) of 4.3%. Factors contributing to growth during the historical period include demographic and aging population trends, advancements in medical understanding and care methods, the expansion of health insurance coverage, government policies and funding for healthcare, as well as preventive care and public health initiatives.
Expectations point towards a steady rise in the market size of general medical and surgical hospitals in the coming years. It is projected to reach $4813.66 billion in 2029, thanks to a compound annual growth rate (CAGR) of 3.9%. Factors such as the transition to value-based care models, the incorporation of telehealth and remote patient monitoring, focus on population health management, partnerships and integration with specialized services, and changes in healthcare payment and reimbursement models contribute to this projected growth. Notable trends during the forecast period include strategies for population health management, a shift toward ambulatory and outpatient services, partnerships and integration with community health, emphasis on value-based care and payment models, and investments in technological infrastructure in the healthcare sector.
What Market Dynamics Are Playing a Key Role in Accelerating the Growth of the general medical and surgical hospitals Market?
The growth of the general medical and surgical hospitals market is predicted to be fueled by the rising incidence of chronic diseases. These long-term ailments, which typically last 3 months or more, tend to progress gradually. To effectively manage the health of patients dealing with these chronic conditions and thus reduce unnecessary hospital admissions and unwanted incidents, healthcare institutions have been putting chronic disease management initiatives into place. Consequently, by reducing healthcare expenses and enhancing patient results, general medical and surgical hospitals stand to gain from these management programs. In June 2022, data from the UK-based cancer charity, Macmillan Cancer Support, indicated that the number of cancer patients reached 3 million in 2022, with forecasts suggesting nearly 3.5 million by 2025 and 4 million by 2030 in the UK. Therefore, the escalating incidence of chronic diseases is a key driver of the general medical and surgical hospital market.
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Who Are the Top Companies Contributing to the Growth of the General Medical And Surgical Hospitals Market?
Major companies operating in the general medical and surgical hospitals market include:
• Mayo Clinic Health System_x000D_
• HCA Healthcare Inc._x000D_
• Cleveland Clinic_x000D_
• Spire Healthcare Group PLC_x000D_
• Ramsay Health Care Ltd._x000D_
How Are Technological Trends Affecting the Growth and Development of the General Medical And Surgical Hospitals Market?
Trend one predominantly comprises the adoption of technological innovations in the general medical and surgical hospitals market. The primary corporations within this market are increasingly embracing technology-based creations to amplify their operational productivity and upgrade patient care in radiology, backed by AI-driven operations and the possibility of remote accessibility. For instance, Koninklijke Philips NV, a tech firm based in the Netherlands, in November 2023, unveiled the Philips HealthSuite Imaging. This cloud-based PACS intensifies the functional competence of radiologists and clinicians and improves patient management. With its provisions on Amazon Web Services (AWS), it provides added features like accelerated remote access for diagnostic reading, amalgamated reporting, and AI-supported workflow management, all securely issued through the cloud, thereby alleviating IT management stress.
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Which Segments Play a Crucial Role in the Expansion of the General Medical And Surgical Hospitals Market?
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
What Are the Key Regions Powering Growth in the General Medical And Surgical Hospitals Market?
North America was the largest region in the general medical and surgical hospitals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the general medical and surgical hospitals market report during the forecast period. The regions covered in the general medical and surgical hospitals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
How Is the General Medical And Surgical Hospitals Market Defined Across Different Regions?
General medical and surgical hospitals refer to healthcare facilities and services that provide a wide range of diagnostic and treatment services to patients who require medical care. These hospitals are used for providing inpatient and outpatient medical care to patients.
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